Canary Capital has filed with the SEC to launch a U.S. Tron (TRX) ETF that would include staking benefits, allowing investors to earn extra yield. 

The S&P 500 futures fall 1.5% amid US-China trade concerns and Fed warning; over 100 companies will report earnings this week. Gold hit a record ~$3,375, up 1.43%, on safe-haven demand amid tariff and geopolitical worries. Fed hawkishness may cap gains. CoinDesk Indices, which tracks the broader crypto market, rose 1.80% in the past 24 hours, while Bitcoin and Ether gained 2.70% and 3.41%, respectively. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is STX, up 9.4%, following the announcement of Stacks gaining institutional support with major exchange listings and custodian backing.

Stacks (STX), founded in 2013, is a cryptocurrency project that enhances the Bitcoin blockchain by enabling decentralized apps (DApps) and smart contracts without altering Bitcoin's features. It operates as a Bitcoin Layer 2 (L2) blockchain, ensuring security through Bitcoin while allowing developers to build modular applications on top of the network. 

 with its listing on top 15 exchanges, the launch of the Grayscale STX Trust, and support from top-tier custodians like BitGo, Copper, and Figment.

Check out the latest prices, charts, and data of 

Canary Capital has filed with the SEC to launch a U.S. Tron (TRX) ETF that would include staking benefits, allowing investors to earn extra yield. This proposal is part of a broader trend, with Canary also seeking approval for ETFs based on assets like XRP, Solana, and Sui. The fund would aim to provide exposure to Tron’s price, but the SEC has yet to approve staking in crypto ETFs. This move follows the success of Bitcoin and Ethereum ETFs, which have attracted significant institutional interest.

During the week of April 14–18, 2025, U.S. Bitcoin spot ETFs recorded a modest net inflow of $13.7 million, entirely from non-GBTC products, as GBTC saw no activity. Since inception, total net inflows have reached $35.5 billion, with non-GBTC ETFs contributing $58.3 billion and GBTC experiencing $22.8 billion in outflows.

Orochi Network airdrop participants can now 

 their earned $ON tokens on the Monad Testnet to increase their Bonus Level and earn rewards faster. A minimum of 50 ON is required for the first claim, and subsequent claims have no minimum. New users can still join by signing up and starting the Prover. Daily check-ins open at 6 AM UTC and fill up quickly.

Beginner

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Canary Capital files for SEC approval of Tron ETF with staking benefits

There are a total of five ways you can buy USDC on Bybit: via Bybit P2P, Bybit One-Click Buy, Auto-Invest, Bybit Card and Bybit Convert. Learn more here.

 that maintains a 1:1 value with the US dollar through full reserves held in regulated financial institutions. This stability makes USDC an attractive option for traders looking to participate in the crypto market with reduced price volatility.

In this guide, we’ll explore the multiple ways to buy USDC on Bybit, detailing five distinct purchasing methods tailored to different preferences. You'll also discover practical applications for your USDC holdings, from trading opportunities to payment solutions and investment strategies.

Whether you prefer trading directly with other users or making quick purchases with a credit card, there's an option for you. Let's examine each method in detail.

 allows individuals and businesses to buy and sell USDC via peer-to-peer mode without intermediaries. You simply transact with another trader to purchase or sell your crypto with zero fees.

There are two main parties on the P2P platform — makers and takers. Makers place ads for buying or selling cryptocurrency, while takers are the users who place orders through the existing ads created by makers. Neither makers nor takers pay any fees on completed orders.

If you decide to go the P2P route to buy your USDC, you can either place a buy ad as a maker, or select an existing offer as a taker. Placing ads is completely free, although specific trading activity requirements exist. If you're a beginning trader on the platform, and want the easiest way to purchase USDC, selecting an offer from an existing ad as a taker is probably the preferred route.

If you need to trade USDC in large volumes (typically tens or hundreds of thousands of USDC per transaction), you may also choose to consider 

, which offers high order limits — up to $200,000 per order — as well as expedited transaction processing.

 feature to complete your USDC order efficiently. HotSwap combines offers from P2P traders with liquidity options from third parties, potentially delivering more choices and options.

Steps for buying USDC via the standard P2P option

2. How to buy USDC via Bybit One-Click Buy

The One-Click Buy service lets you quickly purchase crypto using several supported payment modes: P2P, bank card payments, third-party payments and your account's fiat balance. You can use a credit or debit card (including the Mastercard-powered 

), bank transfers, Apple Pay, Google Pay and other payment methods.

 is another way to purchase USDC on Bybit. The Auto-Invest option allows you to automatically buy crypto at regular intervals using the popular 

Bybit Card is a Mastercard crypto debit card that allows you to make online payments. The card is available to users in specific regions — EEA and CH, AIFC, Australia, Brazil and Argentina — with more locations to be added in the future. It's accepted by more than 90 million merchants within the Mastercard network. Upon successfully applying for your Bybit Card, you may proceed to 

 while you order and wait for your physical card to arrive. 

It's easy to buy USDC using the Bybit Card, as you enjoy reward features like loyalty points and cashback for USDC transactions. The steps for buying USDC using the Bybit Card are nearly the same as shown above in the One-Click Buy section, the only difference being that you'll need to specify your Bybit Card as the preferred payment method.

 lets you easily swap crypto assets without directly trading through the P2P route or other channels. Using Bybit's order books, the platform matches your order with current suitable orders and executes the requested swap. By leveraging Bybit's vast trading volumes and activity, Bybit Convert enables swift and efficient swaps.

If you have non-USDC crypto funds in your account, you can take advantage of the 

 function to buy the stablecoin as follows:

Steps to for buying USDC via Bybit Convert

USDC is more than just a stablecoin for trading; it offers various applications within and beyond the Bybit ecosystem.

USDC serves as a reliable base currency for trading various cryptocurrencies on Bybit.

Trading with USDC helps mitigate volatility risks between trades, as its value remains stable at approximately $1, allowing traders to preserve capital during market downturns.

USDC has emerged as a popular payment method due to its stability and wide acceptance.

Platforms on which users can make USDC payments include Travala for travel bookings, Newegg for electronics, and various crypto-friendly merchants via payment processors, such as BitPay and Coinbase Commerce.

USDC offers various investment opportunities on Bybit and beyond.

The benefit of investing with USDC is that your principal amount remains stable while generating returns, which is particularly attractive in volatile market conditions.

USDC combines dollar stability with digital efficiency on the Bybit platform. This guide has detailed five ways to purchase USDC, and explored its versatile applications for trading, payments and investing. Armed with this knowledge, you can confidently navigate Bybit's ecosystem and make the most of what USDC has to offer.

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A complete guide on how to buy USDC on Bybit

Apr 21, 2025: Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

 explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

Weekly highlight — Trump wants to fire Powell? 

US president Donald Trump is actively considering firing Federal Reserve Chairman Jerome Powell, following Trump's public criticism of Powell for not moving quickly enough to reduce interest rates. National Economic Council Director Kevin Hassett confirmed that the administration is examining this option, suggesting that Powell's actions have politically favored Democrats. Hassett argued that the Federal Reserve's decision to raise interest rates shortly after Trump took office was intended to undermine the economic impact of the tax cuts implemented during his administration, which were deemed inflationary. He further criticized the Fed for not addressing inflation concerns stemming from federal spending under President Biden, implying a lack of accountability.

During a recent press conference, Trump conveyed his dissatisfaction with Powell, asserting that if he wanted to remove him, it could happen "real fast." While he did not explicitly state his intention to dismiss Powell, his remarks highlighted the growing tensions between the White House and the Federal Reserve regarding monetary policy. Hassett defended Trump's frustrations, advocating for a focus on economic policy rather than interpersonal conflicts. This situation underscores the complex dynamics between the executive branch and the central bank, as Trump navigates economic challenges leading up to the next election.

Weekly crypto highlight — XRP ETF coming

HashKey Capital has officially launched the HashKey XRP Tracker Fund, marking the first investment fund in Asia designed specifically to track the performance of XRP, the digital asset integral to Ripple's global payment ecosystem. This fund is aimed at professional investors and offers a unique opportunity to gain exposure to XRP without the complexities of direct asset management. Investors can subscribe through cash and in-kind options, with the fund providing monthly liquidity.

Ripple, as an early backer of the fund, is looking to enhance its strategic partnership with HashKey Capital, which already manages Hong Kong–listed spot ETFs for Bitcoin and Ethereum. This collaboration not only solidifies Ripple's presence in the Asian market, but also opens avenues for future financial products, such as the potential tokenization of a money market fund on the XRP Ledger. Fiona Murray, Ripple's Managing Director for the Asia-Pacific region, highlighted that this partnership is part of a broader strategy to introduce more regulated cryptocurrency products for institutional investors in the region, aiming to foster a more robust crypto landscape in Asia.

Advanced

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Weekly Institutional Insights: Trump’s desire to fire Powell might induce volatility; XRP ETF coming

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards.

Daily top performer — Pyth Network (PYTH)

The S&P 500 dropped 1.5% to 5,282.70 this week, down 5.9% in April and 10% year-to-date, led by tech losses. Real estate and energy outperformed, while political pressure on Fed Chair Powell and inflation concerns weighed on sentiment. Gold dipped 0.6% to $3,319 after a record high, as Powell’s stagflation warning tempered its rally. Despite the pullback, the uptrend remains intact. The Coindesk Indices, which tracks the broader crypto market, are up by 0.77%, with Bitcoin and Ether rising 0.64% and 0.72%, respectively, over the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is PYTH, up 10.1%, following the launch of Pyth Entropy for secure on-chain random number generation by Soneium.

Pyth Network (PYTH),  is a blockchain oracle system that delivers real-time crypto price data to blockchains, enabling smart contracts to react to market changes. Soneium 

 Pyth Entropy, a tool for securely generating random numbers on-chain. Two apps, HandsNFT AI and 2p2e, are already utilizing Pyth Entropy to create unpredictable and engaging experiences.

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards. This approval follows recent changes to local laws, with China Asset Management (ChinaAMC) partnering with OSL Digital Securities to launch the ETF by May 15. The ETF will offer exposure to Ethereum staking, transforming it from a passive investment into an active participant in the Ethereum network. The staking process is powered by Kiln, with OSL providing custody and insurance services. The rewards will contribute to the ETF's net asset value, benefiting shareholders.

Yesterday, Bitcoin spot ETFs saw $25.9M in inflows, all from non-GBTC funds, while GBTC recorded no flow.

" and a points campaign called Drops, where users can earn points—potentially leading to an airdrop—by engaging with Linera content on X. To join, sign up on 

, complete tasks like joining Discord and interacting on X, then enter the campaign. Keep engaging to earn more points, but avoid spamming.

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Hong Kong approves Ethereum ETF with staking rewards, boosting institutional participation

Bybit Learn

Crypto

A bank run occurs when large numbers of depositors withdraw their money simultaneously from a bank. Find out how such a run can affect a crypto exchange.

When it comes to investments, it’s easy to become emotional or 

. When bad news or rumors begin to circulate, it can easily lead to a financial crisis. Bank runs, in which depositors withdraw large amounts of cash very quickly, still occur today. For cryptocurrency exchanges with no 

 or proper support, this can be a big problem that leads to people losing their investments.

There are several ways to prevent bank runs and 

. Even if you aren’t concerned about a crypto exchange you’re using or an asset you’re invested in, use this guide to learn more about how bank runs affect the financial system and everyone involved.

A bank run occurs when large numbers of depositors withdraw their money simultaneously from a bank, typically due to fear that the bank will run out of money.

, large numbers of users withdrawing the same asset within a short period led to significant price drops in the asset’s values.

When a large number of depositors withdraw funds within the same short period of time, financial institutions can run out of the funds they have on hand. During a bank run, the problem usually arises from the unexpected amount of withdrawals. The financial institution doesn’t necessarily lack the funds to fulfill their obligations; they just don’t have them 

Unfortunately, whether the bank run occurs at commercial banks or popular cryptocurrency exchanges, the answer isn’t as easy as collecting the funds from another location. For physical banks, the U.S. 

 sets cash limits on how much money can be stored at each location. This amount is based on typical demand, and is put in place to limit risks.

Banks also lend customer deposits to other customers, or use them to make investments. To help protect consumers, a 

 was introduced which allows banks to lend or invest a large portion of deposits, but they must keep some funds on hand to cover any withdrawals.

During a bank run, banks need to quickly increase the amount of cash they have on hand to cover all of the withdrawals taking place. This can lead to the bank quickly selling off assets to avoid insolvency. While central banks can lend money to commercial banks as a last resort, it isn’t always enough to keep the commercial bank afloat.

For cryptocurrency exchanges, bank runs can be devastating to investors. Some exchanges handle billions of dollars in transactions. While the 

 that separates broker and customer assets, many brokers use custodians to handle transactions. Some assets may not have the same requirements, depending on how those assets are transferred and used. This can lead to more potential issues when investors attempt to withdraw all their funds within a short period of time.

There are several reasons why a bank run could start. Historically, bank runs didn’t occur just because a few people thought an investment was too risky, and decided to pull their funds all at once. In many cases, bank runs were responses to external political or economic factors. For example, the 

 caused a great deal of panic, prompting many Americans to want to hold physical cash. Rumors of banks running out of cash reserves spurred some of the first bank runs.

Today, the majority of bank runs are silent. People don’t form long lines outside of the local bank to withdraw funds; they do it digitally. If the bank is in danger of failing, there are strict procedures in place to prevent it from doing so, such as receiving money from central banks, or allowing another bank to promptly and silently take over.

Bank runs, whether they’re silent or not, tend to be very swift and unexpected. Runs on crypto exchanges, on the other hand, often have a few warning signs that signify the exchange is in trouble.

A little publicity can go a long way, especially with cryptocurrency. Because a lot of cryptocurrency assets are speculative investments, it doesn’t take much effort to cause fear and shake a community. A few bad tweets can cause large investors to reconsider where they hold their assets, which in turn can cause significant decreases in asset prices if there’s a lack of buyers.

 is crucial for cryptocurrency exchanges. Verification will always be done by a third party, and could reveal if funds are being mismanaged. Even if an exchange is practicing fractional reserve banking activities, they should be able to easily track and access assets. Because regulations are different for cryptocurrency exchanges, there are several different factors that could lead to accounting errors or the mismanagement of funds.

There are several short- and long-term effects of a bank run. In addition to affecting financial institutions and customers, bank runs can also spark changes in Federal Reserve policies. Here are just some of the ways bank runs make an impact.

Effects on Companies and Crypto Exchanges

If a bank run occurs and a company or crypto exchange doesn’t have enough cash on hand to properly handle it, it can lead to distrust in the brand. Even if another institution or central banks bail out the company or exchange, holding customer funds — even for a short period — may result in fewer customers.

In addition to public relations issues, banks and cryptocurrency exchanges can suffer from “liquidity crunches.” These occur when a bank can’t find a bailout, and must quickly liquidate assets — often at a loss — to generate cash in order to avoid collapsing. If the amount the bank owes is greater than the amount of cash the bank generates, this can lead to its failure.

Depending on the speed of the bank run, customers may not have a lot of time to react. On a cryptocurrency exchange, panic can spread very quickly, especially if the exchange’s native token starts plummeting in value. This can create a snowball effect, causing the platform or its asset to become worthless in a matter of hours or days. Should the exchange shut down or an asset become virtually worthless, customers can lose their entire investment.

The biggest difference between a run at a commercial bank and a run on a crypto exchange is in the 

 regulations and deposit insurance. These factors help to prevent financial system collapses and bank failures, but they’re typically nonexistent for exchanges.

The government has taken several measures to prevent bank runs. In 1933, the FDIC was founded to maintain stability and regulate the industry. Bank runs can be slowed down or prevented in several ways. 

Bank runs are typically driven by panic and fear, rather than actual issues with financial institutions misusing funds. Slowing the process down doesn’t just help to protect the bank or exchange’s assets — it provides a cooldown period. If faced with the threat of a run, a commercial bank or exchange may shut down for a short period of time. Inspectors may also actively work to gather proof of reserves to give the public peace of mind.

After slowing down the run as much as possible, banks and exchanges need to raise funds to cover all of the withdrawals. For commercial banks, this typically means borrowing from other institutions or central banks to cover large loans and boost their cash reserves.

Some cryptocurrency exchanges may offer an industry recovery fund. For example, 

 following FTX’s collapse to help the crypto industry recover.

Deposit insurance guarantees that investors and consumers will get their money back, should there be a bank or exchange failure, or another issue with the financial system. Part of the reason why runs are devastating in the crypto community is that the FDIC doesn’t insure investors’ assets as it would for central banks. Should a bank collapse, the FDIC allows other banks to purchase the bank having issues, and customers can typically access their funds with little to no interruption.

One prevention method is to actively encourage investors to leave their assets on an exchange or in a bank. This is typically done by offering a percentage of interest. Sometimes, deposits are arranged for a set period. The user makes the deposit, and at the end of the predetermined term, they can make the withdrawal.

How to Protect Yourself During a Bank Run

Investors are becoming more cautious after seeing the impact a run can have on crypto exchanges. Observing crypto exchanges’ actions during previous runs can give an idea of what to expect should history repeat itself. Following the November 2022 FTX collapse, some exchanges 

 institutional traders’ access to liquidity. This move not only demonstrates Bybit’s willingness to support traders during a difficult time, but it helps to show the exchange’s reliability.

Only Use Reputable Cryptocurrency Exchanges

While there are several steps financial systems can take to prevent runs, one of the biggest things you can do to protect yourself is to conduct extensive due diligence before using an exchange. While runs can happen on any crypto exchange, working with a trustworthy platform that’s been successfully operating for several years can decrease the odds of being affected by a run.

Ensure Your Crypto Exchange Has Proof of Reserves

Carefully research any exchange platform you plan to use. It should have publicly shown proof of reserves. Since the FDIC doesn’t offer deposit insurance on crypto exchanges, you need to be cautious when choosing whom to trust with your money. Some exchanges may practice fractional reserve banking, a system where they only keep a percentage of funds on hand.

Rather than offering deposit insurance, a reliable exchange will be able to show proof of reserves. This independent audit shows what assets the exchange has, confirms that the exchange is financially stable, and indicates if any fractional reserve banking practices are being implemented. Proof of reserves should show that the exchange has more assets available than the balance of their users’ accounts, much like the reserves at traditional commercial banks.

Even if you’ve selected a reliable exchange like Bybit to handle your crypto transactions, you need to ensure you always have access to your funds. Never leave your assets on a third-party exchange. This helps to protect you in the event of a run, or any other issues an exchange may run into, such as downtime. Investing in a 

 for your assets will also add an additional layer of protection against hackers and scammers.

It’s tempting to specialize in one or two cryptocurrencies, especially if you have a lot of faith that a particular asset will increase in value. Unfortunately, various events can affect the value of an asset. One of the easiest ways to avoid a financial crisis is to diversify your portfolio with multiple investments. Some investors also work with multiple exchanges so that they’re always ready to trade if necessary.

It’s no secret that the world of cryptocurrency moves quickly. Following multiple news sites who report on the assets you’re investing in, as well as the platforms you’re using, can save you some heartache later on. Whether there’s a run or another financial crisis, being one of the first people to know gives you an advantage. For example, during the collapse of FTX, depositors who withdrew their funds early were able to recover some of their investments. Those who waited to withdraw may not have been able to recover any of theirs.

Bank runs can cause a financial crisis at any time. While the U.S. financial system doesn’t have as many federal reserve regulations for cryptocurrency exchanges, there are still several ways you can protect your digital investments. By understanding the causes of a run and taking precautions, you can protect your assets during an unforeseen financial crisis.

What Is a Bank Run & How Does It Impact Crypto Exchanges?

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