Coinbase is set to introduce the Coinbase Bitcoin Yield Fund (CBYF) on May 1, targeting institutional investors outside the United States. The fund aims to provide annual net returns between 4% and 8% on Bitcoin (BTC) holdings.​

Utilizing a cash-and-carry strategy, the fund seeks to generate yield by capitalizing on the price differences between spot Bitcoin and its derivatives. This approach offers a passive income opportunity for Bitcoin holders, addressing the asset’s limitation of not supporting staking mechanisms like those available for Ether (ETH) and Solana (SOL).​

Aspen Digital, a digital asset manager based in Abu Dhabi and regulated by the Financial Services Regulatory Authority, is among the initial backers of the fund. Coinbase emphasizes that CBYF is designed to mitigate the investment and operational risks typically associated with Bitcoin yield products, aligning with the risk appetites of institutional investors.​

The launch coincides with a notable uptick in Bitcoin’s market performance, which saw a 9% increase in the week leading up to April 28. This surge is attributed to significant exchange-traded fund (ETF) inflows, marking the second-highest weekly inflow at over $3 billion. Analysts suggest that if Bitcoin surpasses the $100,000 threshold, retail investor interest may experience a substantial boost.​

Coinbase’s introduction of CBYF reflects the growing institutional demand for structured Bitcoin investment products that offer yield, potentially setting a precedent for similar offerings in the digital asset space.

Coinbase is calling on the U.S. Securities and Exchange Commission (SEC) to lift its prohibition on employees owning cryptocurrencies, arguing that the restriction hampers the agency’s ability to effectively regulate the digital asset industry.​

In letters addressed to SEC Chair Paul Atkins and Office of Government Ethics Acting Director Jamieson Greer, Coinbase Chief Legal Officer Paul Grewal contends that allowing SEC staff to hold cryptocurrencies would enhance their understanding of the technology and market dynamics, thereby improving regulatory oversight.​

Grewal emphasized that firsthand experience with digital assets is crucial for regulators tasked with overseeing a rapidly evolving sector. He noted that the current ban may impede the SEC’s Crypto Task Force from fully grasping the nuances of the industry, potentially leading to less informed policy decisions.​

The appeal comes amid ongoing tensions between Coinbase and the SEC over the regulatory framework governing cryptocurrencies. Coinbase has previously challenged the SEC’s approach, advocating for clearer guidelines and more tailored regulations to accommodate the unique aspects of digital assets.​

As the debate over crypto regulation continues, Coinbase’s latest request highlights the broader conversation about how regulators can effectively engage with emerging technologies while maintaining ethical standards and avoiding conflicts of interest.

Cryptocurrency exchange Bitget is initiating legal proceedings against eight account holders accused of manipulating the price of VOXEL/USDT perpetual futures contracts. The alleged incident occurred on April 20, 2025, resulting in approximately $20 million in illicit gains.​
Xie Jiayin, Bitget’s head of Chinese operations, announced on April 27 that legal letters would be dispatched to the implicated accounts. She clarified that other users involved in VOXEL trading on the specified date, who have since withdrawn funds, are not subject to further action, and their accounts have been restored to normal operations.​

The exchange detected abnormal trading activity on April 20, leading to a temporary suspension of the affected accounts. The VOXEL/USDT trading pair experienced an unprecedented volume of over $12 billion, significantly surpassing activity on other platforms. Bitget subsequently reversed the irregular trades to recover the unauthorized profits.
​
Bitget CEO Gracy Chen emphasized that the manipulative trades were conducted by individual market participants and not the platform itself. She assured users that the incident did not compromise the overall safety of user funds.​

The exchange plans to redistribute 100% of the recovered funds to affected users through airdrops. An internal investigation is ongoing to determine the root cause of the manipulation. Preliminary reports suggest a potential bug in a market maker bot may have been exploited by traders using high-leverage strategies.​

VOXEL is the native utility token of Voxies, a 3D turn-based tactical RPG game built on the Ethereum blockchain.