EXOD News & Events

As bitcoin, ethereum and other cryptocurrencies see major legal, institutional, and technological developments, the financial landscape continues to adapt. Stay up on the crypto news that matters with the "Crypto Currents" weekly from The Fly. Also, join us for your essential daily recap, every day at 2 PM ET on FlyCast radio.CHARLES SCHWAB DETAILS SPOT CRYPTO TRADING LAUNCH:On Thursday, Charles Schwabannouncedoffer that will begin a phased rollout to retail clients in the coming weeks. Schwab Crypto will provide direct access to bitcoin and ethereum trading, combined with educational content and experienced professional support. At launch, Schwab Crypto will include direct trading in bitcoin and ethereum, in-depth digital assets education and resources, including insights and commentary from the Schwab Center for Financial Research and crypto-focused content through Schwab Coaching, as well as the ability to view and trade cryptocurrency and traditional investments side-by-side across Schwab.com, Schwab Mobile, and thinkorswim. It will also include access to Schwab's 24/7 support from thousands of tenured service professionals and will be priced among the lowest in the industry at 75 basis points on the dollar value of each trade. Over time, Schwab plans to add additional cryptocurrencies to the platform, as well as transfer capabilities for both deposits and withdrawals, allowing clients with existing digital asset investments to bring them to Schwab alongside their other investments."With Schwab Crypto, investors can access familiar cryptocurrencies within an all in one investing and banking experience, backed by an ecosystem of education, tools, resources, and support so they can make informed decisions about how crypto might fit into their broader investing goals," said Joe Vietri, Head of Digital Assets. "Whether you're new to crypto and looking for a firm you know and trust, or you already own digital assets, our goal is to be the destination of choice for retail investors who want to incorporate digital assets into their portfolios with confidence."ETORO ENTERS AGREEMENT TO ACQUIRE ZENGA:eToroannounced Wednesday that it has entered intoa self-custodial crypto wallet provider, in a move that deepens eToro's digital asset capabilities and accelerates its strategy of connecting traditional finance with on-chain infrastructure and the crypto native economy. The acquisition brings together eToro's global multi-asset platform and distribution with Zengo's non-custodial wallet technology, supporting Zengo's next phase of growth while expanding eToro's digital asset capabilities. The transaction strengthens eToro's ability to support evolving digital asset use cases, including tokenized assets and emerging decentralized trading models such as prediction markets and perpetuals, as these markets develop.Yoni Assia, CEO, said, "We believe the future of finance will be increasingly digital, decentralized and user-controlled, with self-custody playing an important role in that evolution. Zengo has built an innovative and secure wallet experience, and this acquisition will enable us to accelerate its growth while continuing to provide users with choice in how they access digital assets. As we often say, crypto downtimes are the time to build and this acquisition reflects that long-term approach. At the same time, we continue to demonstrate the strength of our diversified business model. We've seen strong capital market activity so far this year, with commodity trading accounting for 60% of trading commissions by asset class in Q1 2026, with commodities trading volume nearly 4x higher year over year. This growth was driven by shifting global macro dynamics, our standing as a top-tier global multi-asset platform, and our strategic expansion of 24/7 trading, including gold and oil."On Thursday, eToro announced the relaunch of Tori, its AI investing companion, introducing three upgrades: persistent memory, real-time market sentiment from X powered by Grok 4.2, and the ability to create and manage user-defined AI-driven Agent Portfolios entirely through conversation.eToro also announced Tuesday the launch of the eToro App Store, a marketplace enabling investors and developers to build, share and access trading and analytics applications directly within the eToro platform.SEC APPROVES PLAN TO REMOVE DAY TRADING LIMITS:The Securities and Exchange Commission on Tuesday approved changes to the pattern day trading rule, shifting from a fixed $25,000 threshold for small investors to risk-based margin requirements applied to all traders. Public feedback "overwhelmingly supported" the plan, which includes the "elimination of the $25,000 minimum equity requirements and definition of pattern day trader," SEC Assistant Secretary Sherry Haywood wrote in an order.Goldman Sachs noted the change and pointed out that as this likely reduces margin requirements for traders, which would allow more smaller-sized accounts to trade more actively, this could drive increased retail trading volumes in equities, which could benefit brokers under coverage, including Buy-rated Robinhoodand Interactive Brokersand Neutral-rated eToro. This could be particularly true for the former, which has smaller average account sizes and mostly U.S. exposure, whereas Interactive Brokers has larger average accounts, and eToro is predominantly non-U.S. exposed.Meanwhile, BernsteinThe firm has an Outperform rating on the name with a $130 price target. The upside will be driven by a recovery in crypto markets and "breakout" revenue growth in prediction markets, the analyst said. Bernstein believes a "weak" Q1 report is already priced into Robinhood shares. The market will be forward looking as trading volumes recover Q2 onwards, contended the firm.Additionally, Truist lowered the firm's price target on Robinhood to $100 from $120 and kept a Buy rating on the shares. The firm updated its Robinhood model to incorporate trading data from February and March ahead of Q1 earnings. While shares have been under pressure year-to-date with revenue headwinds from crypto prices and high-beta equity volatility, shares have consolidated in recent months around $70, which the firm views as an attractive entry point for a platform poised to organically grow assets 20%+ annually for the next three years, the analyst said.CRYPTO COMPANIES SEEK MYTHOS ACCESS:Major crypto exchanges and custodians including Coinbaseand Binance are racing to prepare for powerful AI models like Anthropic's Mythos, which the AI company says could be dangerously good at finding and exploiting software vulnerabilities, The Information's Yueqi Yang reported Tuesday. Coinbase has been in "close communication" with Anthropic about Mythos, "a highly restricted model not available to the public," Coinbase Chief Security Officer Philip Martin said. "Mythos, and future models like it, will enable even deeper testing of software and systems at scale. This will accelerate digital threats as well as digital defense."Meanwhile, Piper Sandler raised the firm's price target on Coinbaseon the shares. Heading into Q1 earnings, the firm expects management teams to strike a positive tone on the outlook for trading volumes, especially in futures as the Iran War continues to impact global energy and commodities markets. Piper is somewhat cautious on the tough year-over-year comparisons facing exchanges in Q2, but a continuation of the Iran War is a strong counter.NORTHERN TRUST, DIGITAL ASSET PARTNER FOR CUSTODY CAPABILITIES:Northern Trustannounced Thursday it hasto support the development of custody capabilities for tokenized financial assets. This integration will advance Northern Trust's broader digital asset strategy as the firm continues to evolve its asset servicing model in response to changing market structures. As part of this agreement, Northern Trust will integrate with Canton Network's infrastructure to develop and deploy applications that bridge digital and traditional markets, supporting institutional grade custody and asset servicing workflows for network participants. This move also creates opportunities with other regulated partners and financial services utilities that provide services for digitally issued assets. Northern Trust will utilize its digital assets platform to support custody and asset servicing for tokenized assets issued or transacted on the network."As institutional adoption of digital assets progresses, clients are looking for custody and servicing models that align with established market standards and regulatory expectations," said Guy Gibson, co‑president, Asset Servicing and head of Institutional Banking and Markets. "Connecting to the Canton Network allows us to extend our asset servicing role into new market structures while maintaining the same principles of scale, control, and risk management that clients expect from Northern Trust."OTHER CRYPTO NEWS:Benchmark startsHoldingswith a BuyBitGo, tradias expandHyperscale DatareportsStrategyacquiresprice target raised to $385 from $350 at TD CowenBitmine ImmersionannouncesCanaanreportsTeraWulfreports preliminaryStrivepurchasesEmpery DigitalsellsBGIN BlockchainannouncesDeFi Technologiesprice target loweredat MaximLM FundingminesHigh Rollerteams with Crypto.com toVisalaunchesBitdeerproducesExodus Movementexpandsfiles lawsuit to compel W3C to complete saleSolunaacquiresfor $16.5MLQR Houseto acquireCypherpunk TechnologiesincreasesMorpheus Research saysTechnology, 'short position justified'CRYPTO STOCK PLAYS:Publicly traded companies in the space include Bit Digital, Coinbase, Core Scientific, Greenidge Generation, Mara Holdings, Strategy, Riot Platformsand TeraWulf.PRICE ACTION:As of time of writing, bitcoin rose roughly 6% this week to $77,225 in U.S. dollars, according to CoinDesk.

Exodus Movement announced expanded native support for the public blockchain XRP Ledger, XRPL, inside the Exodus wallet. As part of the expansion, Exodus is rolling out tools for managing and sending XRP directly from the Exodus wallet. In collaboration with Ripple, Exodus will also provide additional in-wallet support for Ripple USD. "Expanding XRPL support means more ways to use XRP without sacrificing self-custody or the simplicity of the Exodus experience," said JP Richardson, CEO and Co-founder of Exodus. "XRP is already a top asset in our wallet, and partnering with Ripple is a natural next step in making it easier to use every day."

Wednesday's session is shaped by two converging forces: a geopolitical surprise that rewired overnight risk appetite, and an institutional landmark in digital asset access. The Trump-brokered U.S.-Iran ceasefire and the debut of the first bank-affiliated spot bitcoinETF in the U.S. arrived on the same morning, creating an unusually dense convergence of catalysts for crypto-linked equities. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.MORGAN STANLEY LAUNCHES SPOT BITCOIN ETF AT INDUSTRY-LOW 0.14% FEE:Morgan Stanley(MS)crossed an institutional threshold Wednesday, becoming the first U.S. bank-affiliated asset manager to offer a spot bitcoin ETF.According to a press release, the Morgan Stanley Bitcoin Trust, or MSBT, began trading today at a unitary fee of 0.14%, undercutting BlackRock'sIBIT at 0.25% and every other incumbent in the category. Coinbaseis named as bitcoin custodian and BNY(BK)handles cash, making both firms primary beneficiaries of AUM growth as Morgan Stanley's roughly 16,000-advisor distribution network channels client capital into the vehicle. Commentary in today's source material notes that Strategy's(MSTR)CEO projected up to $160B in potential flows through Morgan Stanley's $8T AUM network, a figure that, even partially realized, would represent a durable demand floor beneath the bitcoin price.The competitive fee dynamic carries clear equity implications: MSBT's debut intensifies pressure on existing ETF issuers' revenue per AUM dollar while expanding the addressable institutional pipeline. Strong first-session inflows could force fee compression responses from BlackRock, Fidelity, and other incumbents, with implications for Coinbase's custody revenue mix and the competitive structure of the bitcoin ETF market.CEASEFIRE DRIVES CRYPTO EQUITY SURGE AS INSIDER-TRADING FLAGS CLOUD THE RALLY:that bitcoin surged to an intraday peak of $72,738, a 4.9% gain, after President Trump announced a two-week ceasefire with Iran.Investopedia notedthat shares of Strategy, Coinbase, MARA Holdings, and Robinhoodall jumped in premarket trading alongside the move. Bitcoin opened Wednesday at $71,926, up 4.5% from Tuesday and crossing $70,000 for the first time since March 26, while etheradvanced 6.3%.The rally did not arrive without integrity questions.Bitcoin.com News reportedthat on-chain analysts flagged a cluster of newly created wallets with zero prior transaction history that turned approximately $10,000 into $154,000 or more bybetting on the ceasefire outcomeat 3–10% odds on Polymarket, with four suspected insider wallets netting a combined estimated $663,000 in profits. A separate whale on Hyperliquid placed a $60M 5x short on oil and a $16M 10x long on bitcoin hours before Trump's announcement, in tandem, earning roughly $5M in under two hours. No formal investigation has been announced and the allegations remain unconfirmed, but the short-covering cascade that followed cleared mechanical overhead: total cross-asset liquidations hit an estimated $403M to $427M in 24 hours, including a single-hour spike of $209M, leaving crypto-linked equity technicals in a more constructive posture.ETF INFLOWS ABSORB WHALE DISTRIBUTION AS BITCOIN FLOAT TIGHTENS:The ceasefire-driven advance is unfolding against a backdrop of significant large-holder supply movement. Source data indicates wallets holding 1,000 or more BTC sent approximately 42,000 BTC to exchanges in the first week of April, the highest seven-day whale exchange inflow since January 2026, concentrated in addresses that acquired bitcoin at $15,000–$35,000 in 2022–23 and are now booking multi-year gains. That distribution wave is being partially absorbed by institutional buying:Yahoo Finance reportedthat U.S. spot bitcoin ETFs recorded $471M in net inflows on April 6, their largest single-day haul since late February, with BlackRock's IBIT adding $181.9M on April 7. The net result is a tug-of-war between long-term holder profit-taking and fresh institutional demand arriving via ETF wrappers, a dynamic in which MSBT's debut opens a new absorption channel.BULLISH POSTS $60.4B IN MARCH VOLUME; MAWSON RECONSTITUTES BOARD UNDER ACTIVIST PRESSURE:Bullish(BLSH)disclosed two sets of March operating data Wednesday.According to a company press release, pure spot trading volume for March reached $52.9B, with BTC monthly average volatility at 48% and ETH at 46%. Aseparate SEC filingreported the regulatory aggregate, spot plus derivatives, at $60.4B, with BTC spot at $29.1B and ETH spot at $8.0B.In a separate governance development, Mawson Infrastructure Group(MIGI)disclosed a full governance overhaul Wednesday.According to an SEC filing, the company announced the complete reconstitution of its board of directors and the appointment of new executive leadership, including a new executive chairman, CEO, and COO, effective immediately following a cooperation agreement with the Endeavor Investor Group. The Endeavor-backed reconstitution signals an activist-driven push to sharpen capital deployment at a time when compressed mining margins are intensifying institutional pressure on operational efficiency across the sector.FORUM MARKETS PIVOTS TO NVIDIA GPU BRIDGE LOANS TOKENIZED ON ETHEREUM:Forum Markets(FRMM)filed multiple disclosures Wednesday revealing an operational pivot.According to an SEC filing, the company entered an arrangement to deploy capital into short-term NVIDIAGPU chip infrastructure bridge loans targeting annualized mid-teens returns, with a plan to tokenize a portion of each loan on Ethereum. The company also updated its at-the-market equity offering program through a Second Amended and Restated Sales Agreement with Clear Street and Texas Capital Securities,as disclosed in a separate SEC filing, with anaccompanying prospectus supplementamending its $500M ATM common stock program to reflect the updated agents.The GPU bridge loan strategy merges two dominant infrastructure themes, AI compute demand and on-chain issuance, into a single financing product. For equity investors, using Ethereum as a tokenization rail for each loan converts what would otherwise be a niche private credit strategy into a live proof-of-concept for real-world asset issuance on a public blockchain, squarely relevant to broader narratives around Coinbaseas a key Ethereum ecosystem gateway.EXODUS TREASURY REACHES 628 BTC WHILE SECURITIZE PUTS NASDAQ EQUITY ON-CHAIN:, Exodus Movement(EXOD)reported that its digital asset treasury held 628 bitcoin, 1,857 ether, and 17,541 solanaas of March 31, while monthly active users reached 1.5M despite an industry-wide decline in crypto trading volumes. The continued accumulation of BTC, ETH, and SOL during a period of market stress mirrors, at smaller scale, the approach taken by Strategy, positioning Exodus as a mid-tier multi-asset digital treasury proxy.In a separate on-chain securities development,according to a company press release, Securitize placed the ordinary shares of Currenc Grouponto a blockchain, enabling 24/7 trading, lower-cost transactions, and fractional ownership for the first time on a publicly listed equity, a working demonstration of the broader NYSE-Securitize tokenized securities platform under development. Separately,according to a company press release, Virtune AB listed the Virtune Coinbase 50 Index ETP on the Warsaw Stock Exchange, marking the first-ever crypto index ETP in Poland and extending the Coinbase brand's reach into Eastern European retail markets via a benchmark covering up to 50 crypto assets.EMPERY DIGITAL DISCLOSES $142M IN BUYBACKS, NYT NAMES BLOCKSTREAM'S ADAM BACK AS PROBABLE SATOSHI:, Empery Digital(EMPD)announced its 2026 Annual Meeting will be held on July 29, and disclosed it has repurchased 24.6M shares at an average of $5.77 under its $200M buyback program, implying approximately $142M deployed to date. The share repurchase disclosure stands in contrast to the ATM offering activity seen across much of the sector, signaling balance-sheet discipline at a firm whose core asset, bitcoin, is in the middle of a geopolitically charged repricing.On the speculative side,the New York Times published an investigative reportconcluding that Adam Back, CEO of Blockstream and the figure behind a pending Nasdaq de-SPAC vehicle called Bitcoin Standard Treasury Company, or BSTR, completing a merger with Cantor Equity Partners I, is the most probable identity behind Satoshi Nakamoto.BBC News reportedthat Back categorically denied the identification. The story carries limited near-term equity impact given the denial and the speculative nature of the claim, but sentiment around the pending BSTR public vehicle could be affected as the story circulates.PRICE ACTION:As of time of writing, bitcoin was trading at $71,121.37, while ether was trading at $2,204.10,according to price data from TipRanks.