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NymVPN launches fully decentralized VPN amid privacy crackdown

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Privacy protocol Nym has launched NymVPN, which it describes as the “world’s most secure VPN” and says will help protect users from government, corporate and AI surveillance.

The release comes amid an increasingly hostile global environment for privacy-focused products — one that is seeing governments crack down on privacy projects and demand backdoors to encryption.

The decentralized VPN, which launched on March 13, uses the Nym protocol’s “mixnet” to keep users fully anonymous and ensure no metadata can be linked to any specific user, according to a press release shared with Cointelegraph.

Halpin and Nym security adviser Chelsea Manning sat down with Jonathan DeYoung, co-host of Cointelegraph’s The Agenda podcast, to discuss the release, the importance of privacy and how Nym plans to navigate what seems to be an increasingly precarious privacy space.

How NymVPN’s mixnet works

Halpin and Manning appeared on The Agenda podcast back in December 2023 to discuss what was then their upcoming VPN project. Halpin explained that mixnets work by sending encrypted data across multiple servers while also adding “a bit of fake data” to throw off whoever may be attempting to surveil the traffic, such as an advanced AI algorithm.

“Each packet is like a card, and it like shuffles the pack of cards and then sends it to the next server and sends it to the next server,” Halpin explained.

This is in contrast with traditional centralized VPNs, where everything a user does is routed through the VPN provider’s servers and where customers must put their trust in a specific company. Halpin said:

“If you send your VPN data to ExpressVPN, NordVPN and Mullvad VPN, they know everything about you. They know your IP address. They connect to your billing information. They know what websites you’re going to. It’s actually kind of scary.”

Developing privacy software amid global crackdowns

A few months after their Agenda podcast appearance, Alexey Pertsev, a developer for crypto mixer Tornado Cash, was convicted of money laundering charges and sentenced for his role in developing the privacy protocol — a move that sent shockwaves through the industry.

According to Halpin, Nym is less likely to face the same sort of legal trouble because it’s not financial infrastructure. “In all countries except a few repressive ones, VPNs are legal, at least for now,” he said. “They fall under what’s called third-party intermediary lack of liability. […] We are not liable, at least under US law, for shipping bits from point A to point B.”

Related: AI makes it even easier for governments to surveil you — Nym CEO

The nature of operating a fully decentralized VPN that can be used entirely anonymously means there is no way to prevent anyone from using it for whatever reasons they want to. Manning said it is not Nym’s role to be “the arbiter or the determiner of what is and is not nefarious.” She added:

“It’s not possible in a fully decentralized environment to stop them [bad actors]. Like we don’t have a way to. If we did, I mean, we would be centralized.”

More recently, various governments have pushed developers to implement backdoors in their encrypted products. Apple withdrew its end-to-end-encrypted iCloud service from the UK market after the government demanded a backdoor, while the US Federal Bureau of Investigation recently told Forbes it wants “responsibly managed encryption,” where “U.S. tech companies can provide readable content in response to a lawful court order.”

Halpin and Manning said that if a government were to ever attempt to shut NymVPN down or arrest its developers, the Nym network is decentralized, so it should be able to continue running as usual. “In theory, we should be able to get run over with a car, and the network would keep operating,” Halpin said.

Who will use NymVPN?

The Nym team was in Ukraine in 2024 to demo the VPN and present it to the Ukrainian government, and a representative from the humanitarian NGO Doctors Without Borders spoke at the March 13 launch event. Halpin also shared that the team has had conversations with people in Syria.

The Nym team demos NymVPN in Ukraine. Source: Nym

However, an anonymous and decentralized VPN is just that — anonymous and decentralized. This means the team behind it has no way of knowing who is actually using it and what they are using it for, only that it is being used.

As Manning put it, “One of the problems with that question is that if people are using the technology, if they don’t tell us that they’re using the technology, we won’t know.”

Magazine: Cypherpunk AI — Guide to uncensored, unbiased, anonymous AI in 2025

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Blockchain Association CEO will move to Solana advocacy group

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Kristin Smith, CEO of the US-based Blockchain Association, will be leaving the cryptocurrency advocacy group for the recently launched Solana Policy Institute.

In an April 1 notice, the Blockchain Association (BA) said Smith would be stepping down from her role as CEO on May 16. According to the association, the soon-to-be former CEO will become president of the Solana Policy Institute on May 19.

The association’s notice did not provide an apparent reason for the move to the Solana advocacy organization nor say who would lead the group after Smith’s departure. Cointelegraph reached out to the Blockchain Association for comment but did not receive a response at the time of publication.

Blockchain Association CEO Kristin Smith’s April 1 announcement. Source: LinkedIn

Smith, who has worked at the BA since 2018 and was deputy chief of staff for former Montana Representative Denny Rehberg, will follow DeFi Education Fund CEO Miller Whitehouse-Levine, leaving his position to join the Solana Policy Institute as CEO. According to Whitehouse-Levine, the organization plans to educate US policymakers on Solana.

This is a developing story, and further information will be added as it becomes available.

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APX Lending gains exemptive relief from Canadian Securities Administration

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APX Lending, a crypto-backed loan company, has gained exemptive relief from the Canadian Securities Administration (CSA) to offer crypto-backed loans without requiring traditional dealer registration or prospectus filings.

“Over the last 2 years, APX developed a […] regulatory framework in collaboration with the Ontario Securities Commission (OSC) to facilitate this, as no such framework previously existed in Canada,” a spokesperson for APX told Cointelegraph. “This exemption is specific to APX and does not establish a precedent for other companies.”

The platform currently supports Bitcoin (BTC) and Ether (ETH) as backing collateral for loans in Canadian or US dollars. APX plans to add more digital assets and fiat currencies options in the near future.

The company claims to be expanding its reach to the United States, with future expansions planned for Australia and New Zealand pending regulatory approval. Andrei Poliakov, founder and CEO of APX Lending, said in a statement:

“By engaging with Canadian regulators and leading the way in Canada, we are setting a new benchmark for compliance and security in crypto-backed lending, helping retail and institutional borrowers unlock liquidity while maintaining ownership of their digital assets.”

APX loans range from 20%-60% loan-to-value (LTV), with an automated liquidation mechanism triggered at 90% if no corrective action is taken by the borrower to top up collateral or partially repay the loan when LTV reaches the 80% warning level and they are notified of the potential liquidation.

Loan terms range from three months to five years, reflecting the comparatively flexible structure of crypto-backed lending versus the more rigid and often less accessible options found in traditional financial systems.

APX Lending is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Its key competitors in the local market include Ledn, Nexo, and YouHodler, among others.

APX Lending founder and CEO Andrei Poliakov onstage at the Blockchain Futurist Conference in 2024. Source: Blockchain Futurist Conference

Related: What Canada’s new Liberal PM Mark Carney means for crypto

Canada’s shifting political landscape could spell trouble for crypto regulations

Recently elected Canadian Prime Minister Mark Carney is a former central banker who once criticized Bitcoin for being supply-capped, calling the 21 million maximum supply a “serious deficiency.”

In a speech to the Scottish Economics Conference at Edinburgh University in March 2018, Carney said: “Recreating a virtual global gold standard would be a criminal act of monetary amnesia.”

Carney’s critical view of Bitcoin and cryptocurrencies may influence the direction of regulation in Canada and raise uncertainty about the future of the country’s crypto industry.

However, Carney’s 2025 platform outlined goals to make Canada a global leader in emerging technologies such as artificial intelligence and “digital industries” amid increasing geopolitical competition and trade tensions with the United States.

Magazine: Home loans using crypto as collateral: Do the risks outweigh the reward?

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GoMining launches $100M Bitcoin mining fund for institutional investors

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GoMining, a platform that allows users to mine Bitcoin (BTC) through data centers, is launching a $100 million Bitcoin mining fund for institutional investors. Custodied by Bitgo, the fund promises annual distributions from mining yield and a strategy that focuses on Bitcoin rewards and reinvestment.

GoMining’s Alpha Blocks Fund comes as more companies have added Bitcoin to their balance sheets, capturing enthusiasm surrounding the resurgence of the world’s top cryptocurrency by market capitalization. Companies that have done so, including Japan’s Metaplanet and medical technology company Semler Scientific, have seen their stock prices increase.

“Unlike passive equity investments, the Alpha Blocks Fund offers direct exposure to mined Bitcoin via a fully managed, compounding hashrate strategy,” a GoMining spokesperson told Cointelegraph.

“BTC rewards are reinvested to increase the fund’s hashrate and improve miner efficiency — creating real, yield-driven outcomes. Our model is built for performance, not market sentiment, and integrates utility-based advantages that listed mining companies typically don’t offer.”

According to a press release shared with Cointelegraph, GoMining Institutional operates with 7.3 Exahash of active hash power.

Related: Is cryptocurrency mining still profitable in 2025?

“This framework ensures compliance with relevant regulatory requirements and supports our focus on delivering institutional-grade exposure to Bitcoin mining yield strategies,” said the spokesperson, adding that retail users can access a separate digital mining product.

The fund will charge a 2% flat annual management fee, with no performance fees applied.

While GoMining’s Bitcoin fund caters to institutional investors, its flagship product is geared toward retail miners who may lack the funds to create a heavy-duty mining rig. In 2024, it revealed an attempt to gamify Bitcoin mining through the use of non-fungible tokens.

Institutional investment in Bitcoin and other cryptocurrencies like Ether (ETH) has been on the rise since 2024, when the first cryptocurrency exchange-traded funds were launched in the United States.

Regulatory clarity from Europe’s MiCA and the enthusiasm for digital assets in the United States might be changing institutional investors’ skepticism about cryptocurrencies. In March 2025, a report by Coinbase revealed that 83% of institutions are planning a crypto allocation.

Magazine: AI may already use more power than Bitcoin — and it threatens Bitcoin mining

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