Here’s what happened in crypto today

Today in crypto, a new report from the Bank for International Settlements (BIS) warns that crypto and stablecoins may destabilize finance and widen inequality, Lyn Alden shared her current outlook on Bitcoin, and US federal prosecutors continue their case against SafeMoon’s CEO.Crypto, DeFi may widen wealth gap, destabilize finance: BIS reportThe growing adoption of cryptocurrencies may pose risks to the traditional financial system and exacerbate wealth inequality, according to the Bank for International Settlements (BIS).In an April 15 report, the BIS warned that the number of investors and amount of capital in crypto and decentralized finance (DeFi) have “reached a critical mass,” with investor protection becoming a “significant concern for regulators.”The size of the crypto market signals that authorities should be worried about the “stability of crypto over and above the role it may have for TradFi and the real economy,” the report states, highlighting the role of stablecoins, which the BIS said have “become the means through which participants transfer value within crypto.”The report calls for targeted stablecoin regulation on stability and reserve asset requirements that will guarantee the redemption of stablecoins for US dollars during “stressed market conditions.”Lyn Alden lowers Bitcoin forecast after “tariff kerfuffle,” eyes liquidityMacroeconomist Lyn Alden expects Bitcoin to finish 2025 higher than its current price of around $85,000, though she says it would have been much higher if not for US President Donald Trump’s tariff announcement in February.“Before all this tariff kerfuffle, I would have had a higher price target,” Alden told Natalie Brunell on the April 17 episode of Coin Stories. “My guess is that we end up higher at the end of the year than we are now, at least,” she added.However, she said that a “massive liquidity unlock” could be the catalyst needed for Bitcoin to reach more optimistic targets, similar to those before the tariffs were introduced.For example, if the US bond market “broke” and the US Federal Reserve had to step in with measures like yield curve control or heavy quantitative easing (QE), Alden explained.US prosecutors to pursue ex-SafeMoon CEO case despite DOJ memoFederal prosecutors said they will continue pursuing their case against Braden John Karony, the former CEO of crypto firm SafeMoon, despite the US Justice Department issuing a memo suggesting a policy of abandoning “regulation by prosecution” related to digital assets.In an April 18 filing in the US District Court for the Eastern District of New York, US Attorney for EDNY John Durham said his office had reviewed the April 7 DOJ memo issued by Deputy Attorney General Todd Blanche and intended to proceed with a trial against Karony.The former SafeMoon CEO faces securities fraud conspiracy, wire fraud conspiracy, and money laundering conspiracy charges for allegedly “divert[ing] and misappropriat[ing] millions of dollars’ worth” of the platform’s SFM token between 2021 and 2022.