GM!
Today’s top news:
Crypto majors grind higher alongside oil; BTC +1% at $70,600 HYPE / BTC ratio finds new ATH as HYPE soars to $37.60 Ripple buys back $750M of its equity at $50B valuation Across Protocol proposes new token-to-equity model (ACX +50%) Myriad announces Season 3, exclusively settling with USD1 on BNB Ripple Is Buying Back Shares at a $50B ValuationThe offer runs through April, and employees and investors who want liquidity can sell shares back directly to Ripple.
This is a notable move given the broader IPO conversation that has followed Ripple for years. But it looks like CEO Brad Garlinghouse has his sights set much higher.
Key Details
Ripple is buying back up to $750M in shares Transaction priced at a $50B company valuation Gives employees and early investors liquidity without requiring an IPOExchanging tokens for company equity - the crypto holy grail.
The proposal would create an operating entity called AcrossCo. ACX holders would get two options over a six-month window.
First, swap ACX for equity in AcrossCo at a 1:1 ratio Second, redeem tokens for USDC at a 25% premium over the past month’s average priceIf the temperature check gets positive feedback, co-founder Hart Lambur said the team will initiate a formal governance vote within two weeks.
The market reacted immediately. ACX was up roughly 85% on the day, trading near $0.06, with derivatives volume jumping over 7,700%. The token was still down about 84% over the past year heading into the announcement.
Key Details
Across Protocol exploring a DAO-to-C-corp transition via a new entity called AcrossCo ACX holders get two choices: swap tokens 1:1 for equity, or redeem for USDC at a ~25% premium (~$0.04375/token) ACX jumped ~85% on the news; $51M in daily spot volume, $138M in derivativesThe participant list includes Binance, Circle, Ripple, PayPal, Gemini, Paxos, Bybit, Crypto.com, BitGo, MoonPay, Anchorage Digital, and the core teams behind Solana, Avalanche, Aptos, and Polygon.
These companies will work alongside Mastercard teams on the design of future products, with specific focus on cross-border payments, B2B transfers, and global payouts.
The stated goal: connect on-chain programmability and settlement speed to Mastercard’s existing network of 150+ million merchant locations worldwide.
Key Details
85+ companies enrolled including Binance, Circle, Ripple, PayPal, Gemini, Paxos, and major L1/L2 networks Partners will co-develop products bridging on-chain assets to Mastercard’s global card rails Focus areas: cross-border transfers, B2B payments, global payoutsThe report says DOJ officials have contacted people with knowledge of more than $1B in transactions allegedly routed through the exchange to networks linked to Iran-backed groups, including Yemen’s Houthi militants.
Binance US announced a new CEO, Stephen Gregory, on the same day as a potential compliance-focused hire.
Key Details
WSJ reports DOJ is investigating whether Iran routed $1B+ through Binance to evade U.S. sanctions Binance says it is unaware of any investigation and denies facilitating sanctioned transactions Binance US announced a new CEO, Stephen Gregory, on the same dayThe USD1 integration launches with Myriad’s Candles product - a new market format built around short timeframes, continuous liquidity, and automated resolution.
The BNB Chain migration introduces a central limit order book to replace the existing AMM structure, adding slippage controls, limit orders, dynamic fees, and richer market data.
A new Myriad Wallet integrated with MoonPay rolls out alongside the transition.
The effect is a product that looks more like a professional trading environment than a casual prediction app. Myriad co-founder Farokh Sarmad called the USD1 partnership a “full-circle moment,” noting that he interviewed Trump in September 2024 and saw WLFI coming.
The platform has now crossed $167M in cumulative trading volume.
Key Details
Myriad migrating all BNB Chain markets to USD1 as the exclusive settlement asset Season 3 introduces a central limit order book replacing the AMM model, with limit orders, slippage controls, and dynamic fees New Myriad Wallet with MoonPay integration launching alongside the migration
