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.

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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

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Investing

Take advantage of crypto tax-loss harvesting during this bear market to offset capital gains from other investments and reduce your total tax liability.

In recent months, the Federal Reserve has created stricter policies while also increasing interest rates by a considerable amount in an attempt to curb high inflation. As is the case with nearly all financial markets, the crypto market has been hurt by the rising interest rates as well as the worsening economic conditions.

When you perform crypto tax-loss harvesting, you can reduce the amount of taxes you owe by selling assets at a price that's lower than what you paid for them, which can be helpful if you have any capital gains for the year. Keep in mind that realized gains can be taxed. Selling assets at a loss lets you accrue capital losses, which will directly offset your capital gains.

It's common for crypto investors to use this tax strategy toward the end of a given tax year or when the broader market has dipped by a considerable amount. If you use the right tool or piece of software, you can lower your taxes with crypto tax-loss harvesting.

If you're worrying about the possibility of crypto tax-loss harvesting being illegal, the truth is that this strategy is completely legal and isn't considered tax evasion. However, you'll need to adhere to specific 

 if you want to properly use crypto tax-loss harvesting to reduce your income taxes for the year. These rules can differ from country to country.

Is There a Limit to Crypto Tax-Loss Harvesting?

When looking at the tax laws in the U.S., U.K., Canada and Australia, there are different capital loss limits that apply in each of these countries.

The U.S. doesn't place a limit on the amount of capital losses that can be used to effectively offset capital gains. On the other hand, some special rules apply if the total capital losses you accrue are higher than your capital gains. In this situation, you'll only be allowed to use $3,000 of capital losses to offset capital gains. Any remaining losses can be carried forward into future tax years.

In the U.K., a capital gains tax allowance that amounts to £12,300 is available for every individual. If the amount of capital gains you earn is higher than the tax allowance amount, you can use your capital losses to reduce your capital gains until they’re under the allowance. At the moment, there isn't a limit on the amount of capital losses you can use for crypto tax-loss harvesting.

Capital losses can be used to offset your capital gains if you live in Australia. There isn't a limit to this option. However, your capital losses must be used up before you can carry them forward into future tax years. What this means is that you're unable to carry capital losses forward if capital gains still remain.

The capital loss rules for Canada are somewhat unique in that it's only possible to offset half of your total capital losses. However, there isn't a maximum amount that can be offset against capital gains. If your losses exceed your gains for a financial year, these losses can be carried forward indefinitely.

How Does Crypto Tax-Loss Harvesting Work?

Cryptocurrencies are considered to be a capital asset, which means that they function like stocks or real estate. Crypto gains or losses can only be realized after the currency is traded, sold or spent. Let's say that you currently hold a cryptocurrency that’s lost 50% of its value since you purchased it. This isn't realized as a crypto loss until you trade or sell your holdings.

Crypto tax-loss harvesting is a useful strategy that can help you offset your capital gains and reduce the amount of taxes you owe on your annual tax return. Keep in mind that harvesting is still possible even if you don't have any capital gains for the year. Harvesting for additional losses can also help you reduce your taxable income, or potentially offset the gains you've accrued from stocks or other asset types.

For example, let's say that you have $8,000 in capital gains this year, with a certain amount of ETH that's currently valued at $3,000 less than the amount you originally paid for it. In the event that you decide to hold the amount of ETH you currently have, you’ll be tasked with paying taxes on $8,000 of your capital gains.

You can, however, choose to use the crypto tax-loss harvesting strategy to harvest the ETH losses you've accrued. With this strategy, you would sell your current ETH holdings, which will allow you to obtain $3,000 in capital losses. As such, your capital gains would drop to $5,000, which should significantly reduce the amount of taxes you owe.

Benefits and Risks of Crypto Tax-Loss Harvesting

As with any tax strategy, there are benefits and potential risks that you should be aware of before you perform crypto tax-loss harvesting.

The main benefit of the crypto tax loss harvesting strategy is that you'll be able to lower your capital gains taxes. However, additional perks are available, depending on your country. 

For instance, it's possible for you to offset some of your capital losses against your income, which may place you in a lower tax bracket. By dropping to a lower tax bracket, the taxes you owe would be reduced by a considerable amount.

Keep in mind, however, that crypto tax-loss harvesting doesn't necessarily allow you to avoid paying capital gains taxes indefinitely. The purpose of this strategy is to defer these taxes. By deferring your capital gains taxes, you'll have more money every year to use for crypto investing purposes.

While this tax strategy can be highly beneficial, there are also several potential risks. As long as you adhere to the necessary 

, you won't receive a visit from tax officials.

However, performing numerous purchases and sales of crypto means that your transaction fees will build up. Depending on the exchange you're using, these fees can be as high as 4% for every transaction. If you want to make sure that you're actually saving money, it's essential that you take these fees into account when calculating how much crypto tax-loss harvesting will reduce your tax bill.

As touched upon previously, crypto tax-loss harvesting doesn't eliminate your capital gains. You'll still be required to pay taxes on these gains at a later date. When you eventually sell crypto assets that you bought back, you'll need to pay taxes on your capital gains.

In the event that you buy crypto at a much lower price because of the recent dip, your capital gains may eventually be much larger than anticipated. Depending on how large these gains are, they may effectively cancel out your original tax savings from this strategy.

In order to take full advantage of the crypto tax-loss harvesting strategy, you'll need to adhere to a crypto wash sale rule, which can differ from country to country. This rule states that when a taxpayer ends up harvesting losses on a security or stock but decides to buy the same asset within 30 days of the sale, the IRS won't allow these losses to be deducted.

This rule was directly put in place to discourage taxpayers from selling assets solely to obtain the tax benefits of doing so. Let's say that you have a high amount of capital gains for the year. If so, you may look at your holdings and find that you also have an ample amount of unrealized losses.

In this situation, these cryptocurrencies could be sold to obtain a realized loss. You could then buy all of these currencies back at the reduced price before the crypto increases in value. By taking advantage of a wash sale, the capital losses you've gained aren't actually losses, since you've invested your proceeds from the sale into the exact same asset. These losses would be artificial losses, but could still be used to lower your tax bill.

Tax offices understand how easy it is to exploit crypto tax-loss harvesting, which is why many have implemented wash sale rules. These rules can stop an investor from taking advantage of a wash sale. 

Let’s say that earlier in the year, you purchased $15,000 of Bitcoin. Eight months later, your holdings may only be worth $8,000 — thanks to the bear market, which means that you have the ability to use crypto tax-loss harvesting on $7,000 in unrealized losses. The price that you purchased Bitcoin at would be considered the cost basis. The current price is known as the 

. Any difference between these two prices is known as 

If you want to harvest your losses, you'll need to sell your Bitcoin before the current tax year has ended. In the U.S., the tax year ends on December 31. In Australia, the tax year ends on June 30. Some of the many tools that can make it easier for you to take advantage of crypto tax-loss harvesting include Koinly, ZenLedger, Taxbit, TokenTax and CoinTracker.

, create a free account, after which you can sync your crypto wallets with the platform. Once your wallets and any exchanges you use have been added, your short-term and long-term capital gains will be calculated. The same is true of your crypto income, capital losses and expenses. All of these details will be displayed on the tax report page.

You can also use the Koinly tool to track any unrealized losses and gains you have with your crypto holdings. Koinly will implement the specific cost basis method that applies to your location. If you live in the U.K., Koinly uses the Share Pooling technique. 

Keep in mind that you can change the method that the tool uses by navigating to 

. Once it comes time to file your taxes, you'll be able to download your tax report from the tax report page. For U.S. taxpayers, this report will include Form 8949 and Schedule D.

 is another popular tool that assists investors in taking advantage of the crypto tax-loss harvesting strategy. It allows users to identify how much unrealized capital loss they have with every token they hold. You can use these details to determine if you’d like to realize this loss. This process can be completed in three easy steps. 

First, launch the tool, which you can do by selecting the tax-loss harvesting area on your ZenLedger dashboard.

Then, read the results in the harvesting report (via a Google spreadsheet). Every tab in this spreadsheet shows your capital losses and gains with your preferred accounting method.

The third step in this process involves deciding what action you'd like to take after viewing the report. For instance, you could choose to show this data to your current tax professional to explore all of your options. You could also begin by selling your current crypto holdings. Keep in mind that ZenLedger doesn't tell you what wallet or exchange to use when selling your assets.

 makes it easy for investors to use the crypto tax-loss harvesting strategy with its 

, which allows you to identify when the value of an asset drops below the purchase price. You can also set your preferred accounting method. When you use the Tax Optimizer tool, you can view your short-term and long-term capital gains, understand what tax-loss harvesting options you have, and see all of your unrealized losses and gains.

 makes it relatively simple for users to perform crypto tax-loss harvesting. You can sync your profile to the CoinTracker dashboard to view your holdings at a glance. This allows you to easily identify current crypto holdings that can be harvested for a loss. You can then sell unrealized losses for a stablecoin, crypto or fiat currency, and buy back the same asset at the same amount. Once you’re done, you can send the assets back to your wallet.

While crypto tax-loss harvesting shouldn't be exploited constantly, the best time to use this tax strategy is when market conditions are in a downturn. This strategy is an effective way to use your unrealized losses to make sure that your capital gains aren't immediately taxed. When the market is poor, this strategy can help you maintain your assets.

As crypto sales in the U.S. aren't subject to the wash sale guidelines, there aren't many problems with implementing this strategy. When you do intend to apply this approach, make sure to use some of the tools mentioned previously to help you avoid making costly mistakes.

Crypto tax-loss harvesting is a highly beneficial tax strategy that allows you to defer capital gains taxes to a later date. If you want to make sure that you get through the crypto bear market without losing too many of your assets, there's no reason you shouldn't take advantage of the tax strategies at your disposal.

Crypto Tax-Loss Harvesting: Surviving Through the Bear Market

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