Technology
ETF
First spot XRP ETF issued by Hashdex begins trading in Brazil
The fund gives a head start to Hashdex in a race to conquer an $8 billion market.
Regulation
Senator Lummis criticizes Fed’s crypto guidance withdrawal as ‘noise, not real progress’
Lummis highlighted Fed’s ongoing reliance on reputation risk assessments in crypto-related bank supervision, unlike OCC and FDIC.
Stablecoins
Stablecoins entering mainstream adoption, poised for trillion-dollar market cap by 2030 – Citi
Stablecoins are mirroring a ChatGPT-like moment of accelerated adoption, and can surpass $3.7 trillion market cap in its bullish scenario.
Regulation
Ondo meets with SEC Crypto Task Force to discuss tokenizing US securities
The protocol proposed a discussion on structuring approaches that would allow for the compliant issuance and distribution of tokenized securities.
Analysis
Bitcoin tests key threshold as short-term holders cash out and institutions buy in
Bitcoin recovery depends on whether institutions are able to absorb the selling pressure from short-term holders.
Adoption
Swiss crypto advocates urge central bank to add Bitcoin to national reserves
Proponents argue that having 75% of foreign currency holdings in US dollars and euros expose Switzerland to devaluation risks.
Hacks
ZKSync reclaims stolen $5 million tokens after hacker claims bounty offer
The exploiter agreed to the ZKSync's team terms, ending the case without the need of law enforcement.
Adoption
Sovereign wealth and insurance funds quietly accumulate Bitcoin in April – Coinbase exec
De-dollarization, Bitcoin’s identity relative to technology equities, and its role as an alternative inflation hedge fueled the acquisitions.
Analysis
Arthur Hayes predicts Treasury buybacks will drive Bitcoin beyond $110k, potentially reaching $200k
Hayes sees a structural setup similar to the third quarter of 2022, when Bitcoin rose nearly sixfold during the subsequent liquidity surge.
Exchanges
Alabama drops case against Coinbase as crypto policy discussions evolve
Coinbase chief legal officer Paul Grewal also renewed calls for congressional action to establish a unified legal framework for crypto staking.
Lending
DeFi lending protocols gain $2.3B in TVL, fueling token outperformance
Active loans increase $700 million in 24 hours, as lending-related tokens register 7.7% average daily gains.
Regulation
Former SEC adviser warns regulation by enforcement persists despite federal shakeup
State-level lawsuits can still hinder crypto firms' operations in the absence of federal regulation, says Justin Slaughter.