
The Synthetix protocol’s stablecoin, sUSD, has seen a significant drop this week, hitting a low of $0.66 and fueling concerns over its viability. This significant decline marks over a 30%
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Toronto to Host the Biggest Week in Canadian Web3 History: Canada Crypto Week Set for May 11–17, 2025

With Consensus in Toronto and Blockchain Futurist Conference returning for its 7th year, Canada Crypto Week is set to make the city a global destination for Web3 this May. Toronto, ON | APRIL 16, 2025 11:00 AM – Canada Crypto Week returns for its fifth year, running May 11–17, 2025, bringing international attention to the city. Anchored by two global conferences: Consensus & Blockchain Futurist Conference, this week-long celebration will transform Toronto into a global hub for crypto, AI, and Web3. Over 100 satellite events will take place across the country offering countless educational and networking opportunities. Many events are free and accessible, reflecting the community-first ethos that defines Web3 and Canada Crypto Week. For those planning their week, it’s worth noting that Blockchain Futurist Conference on May 13 th at the Design Exchange (Old Toronto Stock Exchange) hosts multiple side events all at the same venue making it easy for attendees to experience multiple events without the commute. Side events at Futurist Conference include: Privacy 2.0: The AI Revolution by Secret Network | Register here ETHWomen | 11:30 AM – 2:00 PM | Register here ETHToronto | 3:00 PM – 5:00 PM | Register here Blockchain4Her Happy Hour at ETHWomen | 12:00 PM – 2:00 PM | Register here Bitget Wallet Mixer Night | 7:00 PM – 10:00 PM | Register here Use Case Magazine | 5:00 PM – 7:00 PM | Register Here Other Notable CanadaCryptoWeek events you don’t want to miss out on are: Consensus | May 14 – 16, 2025 at the Metro Toronto Convention Centre BVI Finance (British Virgin Islands) Cocktail Mixer | Wednesday May 14 ICP & Nolcha: Crypto, Capital, Art & Cocktails | Thursday May 15 at 5:00 PM Hands-On Workshop: How to Build Algos by Ocean Protocol | Friday May 16 Wonder to the Future Hackathon by WonderFi Labs | Beginning May 13 Canada Crypto Week could not be possible without the support of many sponsors. Notable Platinum, Gold and Silver sponsors include: Coinbase, Secret, Bitget Wallet, Unicoin, ZDKL, Nexa, Payper, BVI Finance, Polymath, ICP Hub Canada, Coinbound, LTD Token, EukaPay, CCW, Genzio, Hedgie, Blockchain North, IBN, Localcoin, Truflation, Injective, EZO, Snaplii, Convoy Finance, FP Block, Boundless, Onchain, WonderFi, Shiro Neko, IHoldLife, CryptoSeedBank, Wonder by WonderFi Labs, Cryptoshopi, Ilunafriq, MarketAcross, Sleap, Orion Digital, Pledge Protocol, and Goat Gallery. For the full list of events visit www.canadacryptoweek.com Official LuMa calendar: https://lu.ma/canadacryptoweek For media inquiries: laura@untraceableinc.com CoinOtag

State of Oregon Prepares Lawsuit Against Coinbase After Withdrawal of Federal SEC Case
This comes after the Securities and Exchange Commission (SEC) withdrew its federal lawsuit against the exchange. Coinbase general counsel Paul Grewal stated that the pending lawsuit is an exact ”copy” of the SEC`s 2023 lawsuit against the exchange, which the federal agency agreed to withdraw in February. ”In case you think I’m jumping to conclusions, the AG’s office made it clear to us that they are literally picking up where the Gary Gensler SEC left off. Seriously. This is exactly the opposite of what Americans should be focused on right now. We’ve never been closer to bipartisan legislation for digital assets and this backward lawsuit does nothing to protect consumers or solidify American leadership.” Grewal added. The lawsuit shows that the crypto industry still faces regulatory hurdles at the state level, despite several legal victories at the federal level. Opposition from state regulators could fragment cryptocurrency regulation in the U.S. and make it difficult to form a unified national policy. Several US states have withdrawn lawsuits against Coinbase following the SEC`s action The SEC has changed its stance on cryptocurrencies following the resignation of former Chairman Gensler in January. His departure sparked a wave of withdrawn lawsuits, enforcement actions and investigations against cryptocurrency companies including Coinbase, Uniswap and Kraken. Several U.S. states followed the SEC`s lead and also withdrew their lawsuits against Coinbase in the first quarter of this year. Vermont, one of 10 U.S. states that filed lawsuits against the exchange, withdrew its lawsuit on March 13. The legal ruling specifically cited the SEC`s change in regulatory approach and the agency`s creation of a cryptocurrency task force as reasons for withdrawing the suit. South Carolina rejected its lawsuit against Coinbase two weeks after Vermont withdrew its lawsuit against the exchange. The Kentucky Department of Financial Institutions became the third state-level regulator to dismiss a lawsuit against Coinbase, dismissing the litigation on March 26. Despite the legal victory, Grewal called for the federal government to end its state-by-state approach to regulating cryptocurrencies and focus on adopting clear market structure policies at the federal level. CoinOtag