As gold reached new highs above $3,500, Peter Schiff — a prominent gold advocate and Bitcoin critic — argued that the precious metal is money, fueling backlash from the crypto community.

“Gold is not just any commodity, it’s money,” Schiff wrote in an X post on April 22 after gold prices briefly broke above $3,500.

While praising gold, Schiff sounded the alarm about the state of the economy, emphasizing that gold’s abnormal rally in the past few weeks holds negative implications for the US dollar.

Source: Peter Schiff

“This is the end of the US dollar’s dominance. Life in America is about to change in ways few can imagine,” he stated.

Gold is up 31% YTD, USD is down 9%

Schiff’s comments came amid gold futures surging to a record-breaking $3,500 on April 22, while spot gold has yet to touch the milestone after reaching $3,498 on Tuesday, according to TradingView.

Since the beginning of 2025, spot gold has gained as much as 31.6% of value, while its one-year price is up more than 44%.

Spot gold (XAU) price chart since Jan. 1, 2025. Source: TradingView

The US dollar has seen a notable decline year-to-date, with the US Dollar Index (DXY) tumbling more than 9% in 2025, based on TradingView data.

Community questions gold as “money”

Schiff’s observations on the state of the US dollar in the context of gold’s rally have received some traction on social media, but many commentators have questioned whether the term “money” corresponds to gold.

Some crypto community members specifically highlighted that gold fails to serve as a viable payment method, one of the four foundational functions of money.

“I shaved a bit off my gold bar at Starbucks this morning. They accepted it as payment. First time in a while,” cryptocurrency advocate Mike Alfred responded in Schiff’s X thread, referring to gold being rarely used as a method of payment.

Related: Jack Dorsey pushes Signal to adopt Bitcoin payments

Unlike gold, cryptocurrencies like Bitcoin (BTC) are able to serve the payment use case, many posters stressed.

“I paid for my haircut last week in Bitcoin,” one commentator said, adding:

“Merchants won’t accept gold because how do they test if it’s real?”

Amid the ongoing gold rally, the narrative of gold versus “digital gold” Bitcoin has been on the rise. According to Cathie Wood, a major Bitcoin bull and ARK Invest founder, Bitcoin is a “much bigger idea than gold,” and has a potential to gain from gold’s $23 trillion market.

Others believe that gold and Bitcoin should not be seen as competitors because the assets are different in their nature and have different missions.

Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

Update April 22, 2:17 pm UTC: This article has been updated to include comments from Cato Institute analyst Nicholas Anthony.

The European Central Bank (ECB) raised an alarm over potential fallout from aggressive US support for the crypto industry, warning that a surge in dollar-backed stablecoins could destabilize Europe’s financial system.

According to a policy paper seen by Politico, the ECB has asked for a revision of the Markets in Crypto-Assets Regulation (MiCA) framework for cryptocurrencies just months after it came into effect.

The concern is that US reforms backed by President Donald Trump could flood European markets with dollar-denominated stablecoins.

The ECB fears this could trigger a flight of European capital into US assets, undermining EU financial sovereignty and exposing banks to liquidity risks.

“I do not believe the United States’ embracing cryptocurrency poses a threat to Europe,” Nicholas Anthony, a policy analyst at the Cato Institute’s Center for Monetary and Financial Alternatives, told Cointelegraph. “The ECB is desperately clinging to any justification it can to create the digital euro, but it has repeatedly failed to truly justify it.”

ECB and European Commission clash over MiCA rules

While the ECB called for tighter controls, the European Commission dismissed the warnings as exaggerated, per the report.

The report, citing two diplomats and one EU official, said that the existing MiCA framework is robust enough to manage stablecoin risks despite potential US policies like the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) and the Guiding and Establishing National Innovation for US Stablecoins (GENIUS), two bills aimed at expanding America’s crypto footprint.

“The Commission was quite clear that they had different views on this topic,” and “not very many (countries) supported the idea that we should now jump the gun and start making quick changes in (the rules) based on this alone,” one of the diplomats reportedly told Politico.

The stablecoin sector now commands a valuation of $234 billion, according to data from CoinMarketCap.

The ECB warned that European issuers could face redemption pressures from EU and foreign holders without stricter limits, potentially sparking a financial “run” and harming exposed institutions.

“The worry is warranted,” Mikko Ohtamaa, co-founder and CEO at Trading Strategy, said in a post on X. “However, the EU had the first mover advantage with the regulation and they screwed it up.”

Ohtamaa said no EU stablecoin is globally competitive due to MiCA’s restrictive rules, which are influenced by bank and legacy finance lobbying.

Source: Mikko Ohtamaa

“Rapid legislative changes risk creating more uncertainty in a time where people need to know the rules of the road,” Anthony said, adding:

“Considering this call came amid the United States embracing cryptocurrency, it’s likely the ECB will seek to make it harder for financial innovation in Europe to take place. Once again, the ECB is moving in the wrong direction.”

Related: US regulator,s FDIC and CFTC, ease crypto restrictions for banks, derivatives

Tether remains a major critic of MiCA

​Tether, the issuer of the world’s largest stablecoin, USDt (USDT), has long been a critic of the EU’s MiCA regulation.

Last year, Tether CEO Paolo Ardoino argued that MiCA’s requirements, particularly the mandate for stablecoin issuers to hold at least 60% of reserves in EU bank accounts, could introduce systemic risks to both stablecoins and the broader banking system.

Due to noncompliance with MiCA, USDT has faced delistings from major European exchanges, including Coinbase, Crypto.com and Kraken.

Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest

Polygon-based non-fungible tokens (NFTs) took the top spot in digital collectible sales after surging 20% in the last seven days. 

On April 22, NFT data tracker CryptoSlam showed that Polygon NFTs overtook Ethereum, reaching a $22.3 million volume in the past week. This represented 24% of last week’s overall NFT sales volume, which reached $92.9 million. 

The network also had over 39,000 NFT buyers for the week, an 81% increase over the previous week. 

Ethereum remained second in sales, with a $19.2 million NFT sales volume for the week. Mythos Chain followed with $14.3 million, while Bitcoin-based collections ranked fourth with $14.1 million for the week. 

Top blockchains by seven-day NFT sales volume. Source: CryptoSlamRWA NFT collection drives Polygon surge

The Polygon NFT surge was driven by a single real-world asset (RWA) NFT collection, highlighting that the RWA narrative has reached the NFT space.

RWA tokenization refers to tangible assets minted on the blockchain to increase accessibility and trading opportunities for the assets. Simply put, it’s transforming real-world assets like art, property or even stocks into digital tokens on a blockchain that can be bought, held or traded.

CryptoSlam data shows that increased sales from Courtyard NFTs caused the Polygon NFT surge. The collection reached a sales volume of $20.7 million, eclipsing the performances of other popular NFT projects for the week. 

Courtyard NFT collection tops digital collectible sales volume list. Source: CryptoSlam

Related: Bybit shuts down four more Web3 services after axing NFT marketplace

Courtyard is an RWA marketplace for graded physical card collections. This includes the Pokémon, basketball and baseball cards that are popular among collectors. 

The platform operates by storing and insuring tokenized cards in a vault operated by a security company. This means that NFTs are physically backed. After purchasing NFTs, users can opt to redeem the physical card. When this happens, the NFT is burned and will no longer be traded in the marketplace. 

Onchain RWAs have been a strong narrative in the first quarter of 2025. Data from RWA.xyz shows that tokenized assets have reached $21.2 billion, with total asset holders of more than 97,000. This excludes the value of stablecoins, which is already at $227 billion. 

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Bitcoin is decoupling from the US stock market and starting to trade more like precious metals, in another signal of Bitcoin’s growing role as a safe-haven asset against global economic disruption.

Bitcoin’s (BTC) price is showcasing its growing maturity as a global asset, becoming “less Nasdaq — more gold” over the past two weeks, according to Alex Svanevik, co-founder and CEO of the Nansen crypto intelligence platform.

Bitcoin staged a 12% recovery in the two weeks leading up to April 22, despite ongoing tariff escalation between the world’s largest trading nations. The US increased reciprocal tariffs on China to 125% as of April 9, while China raised import tariffs from 84% to 125% effective April 12.

Source: Alex Svanevik

Bitcoin was “surprisingly resilient” amid the trade war compared to altcoins and indexes like the S&P 500, but remains vulnerable to economic recession concerns, Svanevik told Cointelegraph, adding:

“We expect gold to be more resilient, although gold holdings could be net sold in case investors panic and want to cover margin call. This was seen one to two days at the worst of the trade war earlier this month.”

Still, Bitcoin will continue benefiting from regulatory development and the US Bitcoin Reserve-related news, particularly with more developments on how the “Treasury is looking for ways to swap reserves into BTC,” added Svanevik.

Related: Bitcoin rally above $100K may follow US Treasury buybacks — Arthur Hayes

While the US Bitcoin reserve will initially hold BTC forfeited in government criminal cases, President Donald Trump’s executive order instructed the government to develop “budget-neutral strategies” to buy more Bitcoin.

🇺🇸 LATEST: Executive Director of Digital Assets Bo Hines said the US government may buy Bitcoin using tariff revenue. pic.twitter.com/Gfc2HiEJoL

— Cointelegraph (@Cointelegraph) April 15, 2025

The US is looking at “many creative ways” to fund its Bitcoin investments, including from tariff revenue and by reevaluating the Treasury’s gold certificates, creating a paper surplus to fund the BTC reserve without selling gold, Bo Hines of the Presidential Council of Advisers for Digital Assets said in an interview on April 14.

Related: Bitcoin up 33% since 2024 halving as institutions disrupt cycle

US recession odds rise to 60%, says JPMorgan

Despite Bitcoin’s resilience against tariff concerns, a potential US recession may slash investor demand for risk assets.

The probability of a US recession in 2025 has risen from 40% to 60%, according to an April 15 research report from JPMorgan, which wrote: 

“The latest unwinding of the Liberation Day tariffs reduces the shock to the global trading order, but the remaining universal 10% tariff is still a material threat to growth and the 145% tariff on China keeps the probability of a recession at 60%.”Global Recession Outlook. Source: JPMorgan Global Economics

JPMorgan expects the Fed to “start easing in September, with further cuts at every meeting thereafter through January 2026 — reaching a 3% policy rate by June 2026,” added the report. 

Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

Bitcoin is decoupling from the US stock market and starting to trade more like precious metals, in another signal of Bitcoin’s growing role as a safe-haven asset against global economic disruption.

Bitcoin’s (BTC) price is showcasing its growing maturity as a global asset, becoming “less Nasdaq — more gold” over the past two weeks, according to Alex Svanevik, co-founder and CEO of the Nansen crypto intelligence platform.

Bitcoin staged a 12% recovery in the two weeks leading up to April 22, despite ongoing tariff escalation between the world’s largest trading nations. The US increased reciprocal tariffs on China to 125% as of April 9, while China raised import tariffs from 84% to 125% effective April 12.

Source: Alex Svanevik

Bitcoin was “surprisingly resilient” amid the trade war compared to altcoins and indexes like the S&P 500, but remains vulnerable to economic recession concerns, Svanevik told Cointelegraph, adding:

“We expect gold to be more resilient, although gold holdings could be net sold in case investors panic and want to cover margin call. This was seen one to two days at the worst of the trade war earlier this month.”

Still, Bitcoin will continue benefiting from regulatory development and the US Bitcoin Reserve-related news, particularly with more developments on how the “Treasury is looking for ways to swap reserves into BTC,” added Svanevik.

Related: Bitcoin rally above $100K may follow US Treasury buybacks — Arthur Hayes

While the US Bitcoin reserve will initially hold BTC forfeited in government criminal cases, President Donald Trump’s executive order instructed the government to develop “budget-neutral strategies” to buy more Bitcoin.

🇺🇸 LATEST: Executive Director of Digital Assets Bo Hines said the US government may buy Bitcoin using tariff revenue. pic.twitter.com/Gfc2HiEJoL

— Cointelegraph (@Cointelegraph) April 15, 2025

The US is looking at “many creative ways” to fund its Bitcoin investments, including from tariff revenue and by reevaluating the Treasury’s gold certificates, creating a paper surplus to fund the BTC reserve without selling gold, Bo Hines of the Presidential Council of Advisers for Digital Assets said in an interview on April 14.

Related: Bitcoin up 33% since 2024 halving as institutions disrupt cycle

US recession odds rise to 60%, says JPMorgan

Despite Bitcoin’s resilience against tariff concerns, a potential US recession may slash investor demand for risk assets.

The probability of a US recession in 2025 has risen from 40% to 60%, according to an April 15 research report from JPMorgan, which wrote: 

“The latest unwinding of the Liberation Day tariffs reduces the shock to the global trading order, but the remaining universal 10% tariff is still a material threat to growth and the 145% tariff on China keeps the probability of a recession at 60%.”Global Recession Outlook. Source: JPMorgan Global Economics

JPMorgan expects the Fed to “start easing in September, with further cuts at every meeting thereafter through January 2026 — reaching a 3% policy rate by June 2026,” added the report. 

Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

Bitcoin (BTC) traders see a BTC price reversal beginning as classic resistance stops bulls in their tracks.BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

200-day moving average keeps BTC price pinned

Data from Cointelegraph Markets Pro and TradingView shows BTC/USD cooling after hitting new April highs of $88,874.

Having found strength at the start of the week, Bitcoin raised hopes of a gold copycat move as the latter set multiple all-time highs.

Those highs continued on April 22, while BTC price action conversely saw rejection at the key 200-day simple moving average (SMA).

“Interesting spot. Broke above the Daily 200EMA (Blue) and diagonal resistance. So far, saw a sharp rejection from the Daily 200MA (Purple),” trader Daan Crypto Trades said in a post on X alongside an explanatory chart. 

“Fun won’t start until we get some daily closes back above the previous range low at ~$90K. Important to hold ~$85K below I’d say.”BTC/USD 1-day chart. Source: Daan Crypto Trades/X

The 200-day SMA traditionally forms support during Bitcoin bull markets, but was lost in March as crypto faced sell-side pressure when the US trade war began.

Since then, BTC/USD has seen five-month lows under $75,000, and despite a healthy rebound, some market participants are keen to call time on the latest episode of price upside.

Among them is fellow trader Roman, who referenced stochastic relative strength index (RSI) values in “overbought” territory.

“As we approach horizontal resistance, I wanted to show that the last 4 times stoch RSI has been overbought, we’ve seen a 10-15% correction,” he noted, adding that such a move “would make perfect sense” given downward momentum on the S&P 500.

Daily stochastic RSI was at the top of its 0-100 scale on April 22.

BTC/USD 1-day chart with 200 SMA, stoch RSI data. Source: Cointelegraph/TradingViewBitcoin “reversal has started,” says trader

As Cointelegraph continues to report, other bullish market commentary focuses on the confluence of macroeconomic factors that traditionally fuel BTC price gains.

Related: US dollar goes ‘no-bid’ — 5 things to know in Bitcoin this week

These include rapidly weakening US dollar strength, all-time highs in the global M2 money supply and a delayed reaction to gold’s breakout.

“In the past few weeks, I’m looking at different onchain data and global events, which makes me believe that BTC reversal has started,” trader Cas Abbe concluded in a dedicated X thread on the topic.

Abbe rejected the idea that the current BTC rebound will end up as a “bull trap,” pointing to whale accumulation and the reemerging Coinbase premium in addition to macroeconomic factors.

“I believe that $74K-$75K zone was the bottom for $BTC. Most alts have also bottomed out and we could see a sustained rally,” he added.

BTC/USD vs. XAU/USD chart. Source: Cas Abbe/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

A US judge has granted Binance’s motion to transfer a case involving allegations it facilitated money laundering to the Southern District of Florida due to a similar case that had already been before the courts there.

The case, filed in August 2024 in Washington, focused on the same core issue as a suit filed in June 2023 in Florida, accusing Binance of allowing cybercriminals to use the platform for money laundering, US District Judge Barbara Rothstein said in an April 21 order. 

“Although the two complaints describe the proposed classes in slightly different terms, both encompass the same proposed class of individuals whose cryptocurrency was stolen and transferred to a Binance.com account during the relevant period,” Judge Rothstein said.

“Therefore, this Court concludes that the classes of plaintiffs are sufficiently similar to warrant application of the first-to-file rule.”

US District Judge Barbara Rothstein said transferring the Washington lawsuit to Florida was appropriate given the similarity to a case already being heard there. Source: Law360

The first-to-file rule allows a court to decline a ruling on a matter when a complaint involving the same parties and issues has already been filed in another district. Generally, the court that first hears the case usually retains jurisdiction, according to legal resource LSD Law.

Plaintiffs say the lawsuits differ in key areas 

Lawyers acting for the plaintiffs in the Washington case argued that it differed from the Florida suit because it added other accusations not present in the Florida lawsuit and named former CEO Changpeng “CZ” Zhao as a defendant. 

They also argued that transferring the case could postpone both court actions to the “detriment of all plaintiffs.”

Jude Rothstein said in her ruling that it’s not apparent transferring the suit would delay resolution in either case, and would promote efficiency by “avoiding duplicative litigation,” which is one of the “first-to-file rule’s purposes.”

“To allow two parallel class actions to proceed in separate districts would be duplicative and inefficient,” she said. 

Related: Binance to face class action after US Supreme Court denies petition for review

Three crypto investors launched a suit in August 2024 against Binance and CZ in Washington, alleging their crypto was stolen and the funds were sent to Binance by the thieves to launder the funds.

A year before, Michael Osterer filed his lawsuit in Florida in June 2023, alleging Binance aided the conversion of stolen crypto. A Florida court ordered the case to arbitration in July 2024.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

US-based Bitcoin exchange-traded funds (ETFs) had their largest day of net inflows since late January, as crypto markets remained buoyant over the Easter weekend.

The 11 Bitcoin (BTC)-tracking funds saw a joint net inflow of $381.3 million on April 21, largely carried by a $116.1 million inflow into the ARK 21Shares Bitcoin ETF (ARKB), according to CoinGlass data.

It’s the largest inflow day for the ETFs since the funds had a $588.1 million joint net inflow on Jan. 30, days after Bitcoin hit a peak and was trading with a six-figure price tag.

Total Bitcoin ETF flows since their launch in January 2024. Source: CoinGlass

The ETFs have struggled to maintain inflows over the past few weeks amid US President Donald Trump’s trade war threats. CoinGecko shows Bitcoin fell below $100,000 in early February and hit a 2025 low of $74,773 on April 7, days after Trump placed tariffs on every country, which also caused a stock market slump.

The Fidelity Wise Origin Bitcoin Fund (FBTC) saw the second-largest inflow for April 21, with $87.6 million, while the Grayscale Bitcoin Trust (GBTC) and the company’s Bitcoin Mini Trust ETF (BTC) saw joint net inflows of $69.1 million.

The Invesco Galaxy Bitcoin ETF (BTCO) and the WisdomTree Bitcoin Fund (BTCW) saw no inflows or outflows on April 21. Source: CoinGlass

BlackRock’s iShares Bitcoin Trust ETF (IBIT), the largest of the group by assets under management, saw net inflows reach $41.6 million, about half of the inflows it saw before the weekend trading break on April 17.

Crypto stays afloat over long weekend

US markets had shut down on April 18 in observance of Good Friday, and trading on Monday, April 21, saw them close in the red, with the S&P 500 down 2.4%, while the Nasdaq and the Dow Jones each dropped 2.5%.

Related: Bitcoin rally above $100K may follow US Treasury buybacks — Arthur Hayes

The crypto markets, meanwhile, were able to hold onto gains made over the long weekend, with the total crypto market capitalization climbing by $800 billion over the three-day break to hold at $2.84 trillion.

Bitcoin has boosted that total, having climbed above a market value of $1.75 trillion for the first time since March 22 as its price struck above $88,500, a four-week high.

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

A planned settlement between the US Commodity Futures Trading Commission and crypto exchange KuCoin will likely be delayed after a policy shift at the CFTC to deprioritize cases against crypto companies under the Trump administration.

CFTC attorney John Murphy submitted a letter on April 21 to District Judge Valerie Caproni, asking for more time to secure approval for a deal negotiated under the Biden administration, reported Law360.

“It appears unlikely that such authorization will be granted in the near term,” he said, referencing a recent statement by acting CFTC Chair Caroline Pham that the agency’s enforcement division was to deprioritize cases against crypto companies.

The CFTC charged KuCoin with “multiple violations of the Commodity Exchange Act (CEA) and CFTC regulations” in March 2024.

According to the Justice Department, which also filed charges against KuCoin and two founders for violating Anti-Money Laundering laws, the exchange received more than $5 billion and sent more than $4 billion in “suspicious and criminal funds.” 

KuCoin, trading under Mek Global Limited, reached a $297 million settlement with the Department of Justice in January and agreed to exit the US market for at least two years. 

In December, the CFTC and KuCoin informed the court that they reached an agreement in principle to settle the case, however terms and details of the proposed deal were not disclosed. 

In March, KuCoin asked the judge for a 14-day stay to address further negotiations in line with President Trump’s executive order curtailing enforcement actions against the digital asset industry. However, this request was denied, with the judge pressing for negotiation status updates. 

No majority at CFTC

When Pham announced in February that the Commission would wind down its practice of regulation by enforcement, she also noted that terminating active cases would be more difficult to deal with.

The CFTC needs a majority to dismiss a case or authorize its settlement, and there is currently no majority, with two members from each party sitting on its governing body.

This could change if the Senate confirms the appointment of Trump nominee Brian Quintenz to lead the financial regulator.

Both parties have requested an additional 60 days or until the Commission provides “definitive direction” on the matter. 

Related: US regulators FDIC and CFTC ease crypto restrictions for banks, derivatives

On April 21, the CFTC’s Divisions of Market Oversight issued a request for comment to better inform them on the potential uses, benefits, and risks of perpetual contracts in derivatives markets.

“Innovation and new technology have created a renaissance in markets that presents new opportunities that are accessible to more people, as well as risks,” said Pham. 

Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest

Crypto law firm Burwick Law has called out Solana-based non-fungible token platform Metaplex’s plan to sweep unclaimed Solana (SOL) into its treasury instead of returning it to investors, suggesting it could be at risk of litigation if it follows through with the plan.

Last year, Metaplex, an NFT protocol, discovered a way to reduce the amount of onchain storage required for certain NFTs. By resizing the NFTs, Solana NFT holders can claim a small amount of SOL.

In October, Metaplex said that Metaplex Token Metadata (TM) NFT holders will be able to execute a “resize optimization” for all TM accounts with a deadline of April 25.

Those who didn’t do it voluntarily by the deadline would have their excess SOL transferred to the Metaplex DAO automatically, with how they’re to be used yet to be determined.

However, Burwick criticized the firm’s plan to sweep unclaimed funds to its DAO treasury instead of returning them to NFT holders.

“Many minters never received clear notice that these lamports could be swept, let alone diverted to a treasury they do not control,” Burwick said in an April 22 open letter to Metaplex and the broader Solana community.

Burwick said over 54,000 SOL tokens are at risk, and according to Metaplex’s website, only 7,043 SOL have been claimed. At current market prices, more than $6.5 million remains unclaimed.

Burwick said many of the NFT collectors it represents have shared “deep concerns” about the plan.

Burwick added that Metaplex’s plan “erodes trust” and “violates the spirit of crypto.”

“‘Code is law’ only works when the rules are clear and immutable. If a protocol can rewrite yesterday’s deal tomorrow, the promise of decentralised permanence rings hollow.”Source: Burwick Law

Burwick said such a move could entitle victims to restitution should a court find the sweep constituted unjust enrichment or violates consumer protection laws.

Metaplex hasn’t responded to Burwick’s X post. Cointelegraph reached out to Metaplex but didn’t receive an immediate response.

Metaplex said the unclaimed SOL may be used for the DAO to vote on airdrops, distribute grants to ecosystem builders, or other initiatives.

Source: MetaplexBurwick pitches what Metaplex should do instead

The crypto lawyers advised Metaplex to pause the plan and refund rent directly to current NFT holders while retaining a “modest” network-maintenance bounty of 10%.

“A 90 / 10 split protects users, preserves DAO funding, and proves that the Solana ecosystem can self‑regulate—without a courtroom.”

Related: Coinbase distances Base from highly criticized memecoin that dumped $15M

Burwick noted that other DeFi protocols have resolved similar issues this way.

The lawyers said there is still plenty of time for Metaplex to execute such a strategy and avoid litigation where funds could be frozen.

“The ball is in the DAO’s court. Let’s show the world that Web3 corrects its own course and lives up to its founding principles of transparency, immutability, and fair dealing.”

Magazine: Meet lawyer Max Burwick — ‘The ambulance chaser of crypto’