Former Coinbase Employee Seeks to Limit Jail Term to 10 Months in Insider Trading Case

Ishan Wahi faces a sentencing hearing on May 9 after admitting he’d revealed details of forthcoming crypto listings to his brotherSource

zkSync-Based DEX Merlin Drained of $1M During Public Token Sale Despite ‘Audit’

The project garnered hype among Crypto Twitter users for its attractive yield offered on deposits.Source

First Mover Asia: Bitcoin Breaks Its Losing Streak in Late Tuesday Rally

ALSO: CoinDesk’s Pete Pachal and Daniel Kuhn outline important themes at Consensus 2023 conference, which opens Wednesday in Austin, Texas.Source

NY Fed Policy Change Could Squash Stablecoin Issuer Circle’s Hope for Fed Access

Funds structured as stablecoin issuer Circle’s Blackrock-managed USDC reserve fund “generally will be deemed ineligible” for the New York Federal Reserve’s reverse repurchase program under the new rules.Source

Bitcoin Regains $28K Amid Mildly Encouraging Tech Earnings, Liquidation of Short Positions

BTC climbed Tuesday afternoon as Google and Microsoft’s first-quarter earnings surpassed expectations. Both equities and Treasury yields were down on Tuesday, however.Source

FTX’s LedgerX Derivatives Exchange Sold to Miami International Holdings in Bankruptcy Auction

FTX.US last purchased Ledger Holdings, the parent company of LedgerX, for $298 million in October 2021, according to audited financial documents viewed by CoinDesk.Source

Former Signature Bank Crypto Payments Chief, 4 of His Team Join Fortress Trust

Joseph Seibert, formerly head of its digital assets at Signature Bank, has brought over part of his risk and compliance team and a blockchain payments specialist.Source

Alejandro Navia: Building the Future of Tokenized Media

The co-founder and president of news site nft now, a speaker at this year’s Consensus, discusses why Web3 has a mental health problem and the future of tokenized media.Source

Pepe Coin’s Top Bull Also Has Millions in Shiba Inu, but Holdings Suggest Risk for Traders

Millions worth of pepe tokens are held by a small number of wallets, with one such wallet seemingly a memecoin bull.Source

Gibraltar Court Orders Crypto Wallet Freezes as Investigators Probe Failed Trader Globix: FT

A Gibraltar court has ordered Binance, Crypto.com, Bitstamp and Kraken to freeze wallets or identify owners linked to the collapsed crypto trader.Source