1inch launches on Solana, plans cross-chain swaps to boost liquidity

Decentralized exchange (DEX) aggregator 1inch has launched on Solana, marking a significant step toward its vision of a “unified multichain” decentralized finance (DeFi) ecosystem.

According to a press release shared with Cointelegraph, the integration enables users to trade over 1 million Solana-based tokens directly through the 1inch decentralized application (DApp), benefiting from maximal extractable value-protected swaps, optimized rates and open-source smart contract infrastructure.

The move brings 1inch’s Fusion protocol to Solana for the first time. Fusion enables users to define their ideal swap parameters, which are then executed by competing professional market makers, or “resolvers,” using Dutch auction mechanics.

Combined with Solana’s ultra-fast block times, the setup promises more efficient and seamless trading execution than other networks.

A 1inch representative told Cointelegraph that users could expect “minimal fees” when executing swaps on Solana. “Users may expect costs of less than one cent,” they said.

1inch to launch crosschain swaps for Solana

In addition to enabling Solana-based swaps, 1inch revealed plans to roll out crosschain functionality in the coming months, aiming to allow swaps between Solana and more than 10 other blockchains already supported by 1inch.

“At this stage, there is no fixed launch date,” the 1inch representative said. “However, development is progressing well, and we expect the feature to go live in the coming months.”

Ethereum cofounder Vitalik Buterin has shared the twin goals of the Ethereum Foundation (EF): maximizing usage and ensuring the network's resilience and decentralization.

The first goal revolves around ensuring that users benefit from Ethereum's underlying properties. 

Some examples of "meaningful usage" include using Ethereum-based tokenized assets and decentralized finance for savings, wealth building, as well as payments. This could solve issues related to unreliable fiat infrastructure. 

Ethereum could also be used for decentralized social media networks, decentralized autonomous organizations (DAOs) and decentralized artificial intelligence.

The post, which was co-written with Ethereum Foundation President Aya Miyaguchi, has also outlined the goals of maximizing Ethereum's resilience. This would involve ensuring ecosystem autonomy, value alignment, team diversity and network robustness. Of course, decentralization remains a key component since it would eliminate single points of control or failure. 

"The EF must change with the ecosystem, adapting to the community’s needs while maintaining our core principles," the organization said. 

Ethereum continues to struggle with its image after its disastrous performance in 2025. However, as reported by U.Today, quantitative trading firm Presto believes that ETH will eventually be able to substantially outperform BTC this year.

Australian financial intelligence agency AUSTRAC has called on digital currency exchanges (DCEs) that are no longer operating to voluntarily withdraw their registrations, warning that failure to do so could result in cancellation.

AUSTRAC Cracks Down on Dormant Crypto Exchanges

DCEs, including those operating cryptocurrency ATMs, must be registered with AUSTRAC to legally offer services exchanging cash for cryptocurrency and vice versa. Currently, 427 DCEs are registered, but the agency has expressed concern that a significant number appear inactive. AUSTRAC has begun contacting businesses it believes are no longer trading.Brendan Thomas, the CEO of AUSTRAC

Brendan Thomas, AUSTRAC’s chief executive, said inactive registrations could be exploited by criminals seeking to use dormant businesses for illicit activities. “Businesses registered with AUSTRAC are required to keep their details up to date; this includes details about services that are no longer provided,” Thomas said.

He added that maintaining an accurate register is essential for protecting consumer confidence and ensuring that only legitimate businesses operate in the sector.

“Our intelligence shows cryptocurrency can be exploited by criminals for money laundering, scams and money mule activities, and we’re seeing far too many people falling victim to scams involving digital currency,” Thomas stated.

Use It or Lose It

AUSTRAC has the authority to cancel a registration if it determines a business is no longer providing DCE services. Cancellations are published on the agency’s website. Thomas noted that if a business intends to resume operations, it may reapply for registration at any time.

Following its review, AUSTRAC plans to launch a publicly searchable register, allowing consumers to verify whether a digital currency exchange is registered and under regulatory oversight. “

We want to make sure the public isn’t misled about the services a business is legally allowed to provide,” Thomas said. “Members of the public should feel confident that they can identify legitimate cryptocurrency providers that are registered and subject to regulatory oversight and that we are driving criminals out of this industry.”

Crypto Focus

In February, AUSTRAC announced that it had taken action against 13 remittance and digital currency exchange providers and was investigating more than 50 additional firms.

The regulator, which is tasked with detecting, preventing, and disrupting criminal activity within the financial system, intervened after these platforms failed to adequately report suspicious transactions.

The current enforcement efforts reflect decisions made late last year, when AUSTRAC prioritized cracking down on cryptocurrency ATMs for 2024. The agency had flagged cryptocurrencies as posing increased risks for money laundering, scams, and money mule operations.

The concept of a Russian ruble stablecoin received special attention at a major local crypto event, the Blockchain Forum in Moscow, with key industry executives reflecting on some of the core features a ruble-backed stablecoin might require.

Sergey Mendeleev, founder of the digital settlement exchange Exved and inactive founder of the sanctioned Garantex exchange, put forward seven key criteria for a potential “replica of Tether” in a keynote at the Blockchain Forum on April 23.

Mendeleev said a potential ruble stablecoin must have untraceable transactions and allow transfers without Know Your Customer (KYC) checks.

However, because one of the criteria also requires the stablecoin to comply with Russian regulations, he expressed skepticism that such a product could emerge soon.

The DAI model praised

Mendeleev proposed that a potential Russian “Tether replica” must be overcollateralized similarly to the Dai stablecoin model, a decentralized algorithmic stablecoin that maintains its one-to-one peg with the US dollar using smart contracts.

“So, any person who buys it will understand that the contract is based on the assets that super-securitize it, not somewhere on some unknown accounts, but free to be checked by simple crypto methods,” he said.

Another must-have feature should be excess liquidity on both centralized and decentralized exchanges, Mendeleev said, adding that users must be able to exchange the stablecoin at any time they need.

According to Mendeleev, a viable ruble-pegged stablecoin also needs to offer non-KYC transactions, so users are not required to pass their data to start using it.

“The Russian ruble stablecoin should have the opportunity where people use it without disclosing their data,” he stated.

In the meantime, users should be able to earn interest on holding the stablecoin, Mendelev continued, adding that offering this feature is available via smart contracts.

Russia opts for centralization

Mendeleev also suggested that a potential Russian version of Tether’s USDt (USDT) would need to feature untraceable and cheap transactions, while its smart contracts should not enable blocks or freezes.

The final criterion is that a potential ruble stablecoin would have to be regulated in accordance with the Russian legislation, which currently doesn’t look promising, according to Mendeleev.

The overall demand and interest for the spot Bitcoin ETFs in the US has returned in full force as the products have recorded an impressive streak of seven consecutive days of net inflows.

On April 28, though, many showed signs of weakness, while BlackRock’s IBIT stole the show with a multi-month record.IBIT Sees Almost $1B in Inflows

Data from Farside Investors shows that IBIT attracted a mindblowing $970.9 million in net inflows yesterday. This became the highest figure achieved since just after the US elections (November 7) when investors allocated over $1.1 billion into the product, and the second-biggest ever.

In contrast, most other ETFs were in the red, including Fidelity’s FBTC, Bitwise’s BITB, Ark Invest’s ARKB, and Grayscale’s GBTC. ARKB’s losses were the most substantial, with $226.3 million leaving the fund. The day was positive, with $591.2 million in net inflows, but that’s all due to BlackRock’s IBIT.

Consequently, the world’s largest Bitcoin ETF’s AUM has skyrocketed to just over $42 billion. On average, the fund has attracted $130.2 million per day ever since its establishment in January last year.

The ETFs continue their streak that started on April 17. After weeks and weeks of bleeding out amid Trump’s escalating Trade War against almost every country, which was later reduced to just China, theBTC-tracking financial vehicleshaveregisteredseven consecutive days of net inflows now. Within this timeframe, they have attracted over $3.7 billion.

Bloomberg’s ETF expert, Eric Balchunas, commented on the substantial inflows toward IBIT, saying this was a “two steps forward mode after taking one step back.”

Damn. ETFs are in two steps fwd mode after taking one step back, which is the pattern we predicted from the get-go. https://t.co/bNRorN3qMf

— Eric Balchunas (@EricBalchunas) April 29, 2025

ETH ETFs to Reverse the Trend?

Thespot Ethereum ETFsalso felt the consequences of the global economic uncertainty prompted by the tariffs imposed by Trump. However, similar to their BTC ETF counterparts, they have shown some signs of a trend reversal, albeit not in the same impressive manner.

In the past three trading days (April 24, 25, and 28), they have registered net inflows worth $231.7 million. BlackRock’s ETHA leads the pack once again, with $40 million on April 24, $54.4 million on April 25, and $67.5 million on April 28.

In fact, the figure from yesterday was the highest since February 4, when the fund attracted a whopping $276.2 million.

A trio of major Abu Dhabi institutions, including the Emirate’s sovereign wealth fund, have teamed up to launch a new dirham-pegged stablecoin.

Abu Dhabi’s sovereign wealth fund ADQ, the United Arab Emirates' largest bank, First Abu Dhabi Bank (FAB), and the massive conglomerate the International Holding Company, have partnered to launch the stablecoin, pending regulatory approval, three companies said on April 28.

The trio said the stablecoin would be regulated by the UAE’s central bank and backed by the country’s currency, the dirham. It will also support use cases such as machine-to-machine and artificial intelligence.