Crypto News Terminal

Paolo Ardoino, Tether's CEO, has voiced concerns about Europe's Markets in Crypto-Assets (MiCA) law, stating it poses a significant risk to stablecoins. In a recent interview, Ardoino explained that Tether has not registered a company in Europe due to these regulatory concerns. According to Ardoino, MiCA's requirement that 60% of stablecoin reserves be held as cash in European banks could lead to bank instability and potential bankruptcies, especially for smaller institutions. He argues that man

Robinhood, the popular trading app, has disclosed that B2C2 and Wintermute are its primary cryptocurrency market makers. This information was revealed in a recent filing with the U.S. Securities and Exchange Commission (SEC). Key Players in Robinhood's Crypto Trading The filing marks the first time Robinhood has publicly identified its market makers in the crypto space. Wintermute accounted for a significant 11% of Robinhood's cryptocurrency transaction revenue in the first quarter, while B2C2 c

Kraken, a leading cryptocurrency exchange, has announced impressive first-quarter results, reporting a revenue of $471.7 million. This figure represents a substantial 19% increase compared to the same period last year, highlighting Kraken's continued growth and dominance in the competitive crypto market. The exchange also reported a 17% increase in adjusted EBITDA, reaching $187.4 million. Furthermore, trading volume saw a significant jump of 29%, demonstrating increased activity on the platform

Michael Ellis, Deputy Director of the CIA, views Bitcoin as a critical arena in the US's strategic competition with China. In a recent podcast, Ellis highlighted Bitcoin's dual nature, stating, "Bitcoin is both a tool for competition and a kind of target." He emphasized the importance of the US gaining a "high ground" in this technological race. Ellis believes the US can leverage Bitcoin both offensively and defensively. This includes preventing adversaries from exploiting the technology and uti

Tron (TRX), a leading blockchain platform, has achieved a significant milestone by surpassing 100 billion cumulative transactions. This announcement, made by CryptoQuant on X (formerly Twitter), underscores the network's robust activity and growing adoption. With an estimated average of 8.4 million transactions per day, Tron demonstrates consistent and substantial usage. This high transaction volume highlights Tron's capability as a platform for various decentralized applications (dApps) and sta

The Blockchain Group, a French firm, is making waves with its ambitious Bitcoin accumulation strategy. Since last year, they've been actively acquiring BTC, and recently announced their intention to amass between 170,000 and 260,000 BTC by 2034. Why This Matters: This target represents roughly 1% of Bitcoin's total supply, demonstrating a significant long-term commitment to the cryptocurrency. The Blockchain Group sees Bitcoin as a valuable asset for the future. Current Holdings and Future Plans

Tether, the dominant stablecoin issuer, has disclosed significant Bitcoin holdings. A recent report indicates that Tether currently possesses $7.6 billion worth of BTC as part of its reserves. This revelation offers insights into Tether's investment strategy and its commitment to diversifying its asset backing. The report further details Tether's total assets at $149.2 billion, against liabilities of $143.6 billion. This suggests a healthy margin and provides further assurance to USDT holders. T

## Robinhood CEO Signals Shift Away From Crypto Dependence Robinhood CEO Vlad Tenev announced plans to diversify the company's revenue streams, reducing its dependence on volatile cryptocurrency trading volumes. This strategic shift comes after a significant decrease in crypto trading activity. ## Declining Cryptocurrency Trading Volume Impacts Revenue During the first quarter earnings call, Robinhood revealed a drop in cryptocurrency trading volume to $46 billion, down from $71 billion in the p

U.S. Representative Lance Gooden is advocating for wider cryptocurrency adoption, urging the installation of crypto ATMs across all federal buildings. In a letter to the General Services Administration (GSA) Director, Gooden highlighted the potential benefits and alignment with previous administration goals. The proposal aims to make digital assets more accessible to the public and position the U.S. as a leader in cryptocurrency and blockchain technology. The GSA has already piloted crypto ATMs

Nexon subsidiary, Nexpace, is set to launch MapleStory N, a web3 iteration of the classic MMORPG, on the Avalanche blockchain, scheduled for May 15th (local time). This marks a significant step for Nexon into the blockchain gaming space. MapleStory N Integrates Crypto Assets MapleStory N distinguishes itself by integrating cryptocurrency assets derived from the Avalanche blockchain. Players will have true ownership of in-game items, enabling them to trade and manage their assets on-chain. This o

DeFi Development, formerly Genoil, a US-listed entity with a strategic Solana (SOL) reserve, has unveiled plans to secure $24 million through a Private Investment in Public Equity (PIPE) offering. This move follows their recent SEC filing, indicating intentions to issue up to $1 billion in securities. The raised capital is earmarked for acquiring more Solana, solidifying its position as a core asset. DeFi Development sees significant potential in the Solana ecosystem, believing it will drive fut

Tether, the leading stablecoin issuer, has announced a strong Q1 2024, exceeding $1 billion in operating profit. This performance underscores the company's stability and dominance in the stablecoin market. Strong Financial Performance & USDT Growth Tether's total assets reached $149.2 billion, while liabilities stood at $143.6 billion. This leaves Tether with substantial excess reserves of $5.6 billion, ensuring the USDT stablecoin remains fully backed. The issuance of USDT increased by $7 billi

NexusOne Consulting, a new lobbying firm specializing in cryptocurrency and artificial intelligence (AI), has been established by former officials from the Trump administration, according to CoinDesk. This move signals a growing effort to influence policy in the digital asset space. The firm intends to represent technology companies, particularly those involved in crypto, AI, and social media. NexusOne's strategy involves proactively shaping policies, anticipating a potentially favorable regulat

BounceBit (BB), a Bitcoin restaking chain, has announced support for trading tokenized shares of the "Magnificent Seven" stocks: Apple, Microsoft, Alphabet (Google), Amazon, Nvidia, Tesla, and Meta. This allows users to trade these tokenized securities directly on the BounceBit chain, eliminating the need for traditional brokerage platforms. This development expands the utility of BounceBit's platform and provides users with access to fractional ownership and trading of some of the world's large

DAO5, a prominent crypto venture capital firm, has successfully closed its second fund, securing a substantial $222 million. This new fund will be strategically deployed across 15-20 promising projects within the cryptocurrency space. The investment strategy is centered around three key areas: stablecoins, Real World Asset (RWA) tokenization, and critical cryptocurrency infrastructure. DAO5 aims to foster innovation and growth in these sectors, believing they represent significant opportunities

Aztec Network, a ZK-rollup based Ethereum Layer 2 solution focused on privacy, has officially launched its private testnet. This milestone marks a significant step towards the mainnet launch after over eight years of development. The private testnet serves as the final verification phase, rigorously testing the network's functionality and security before being deployed for public use. Aztec aims to bring scalable privacy to Ethereum, allowing users to transact and interact with DeFi applications

The U.S. stock market experienced a positive open today, with all three major indexes showing gains. This bullish start suggests renewed investor optimism after recent market volatility. The S&P 500 led the charge, climbing 0.91%. This broad-based index reflects the performance of 500 of the largest publicly traded companies in the U.S. Its positive start indicates strength across various sectors. The NASDAQ Composite, known for its heavy weighting in technology stocks, surged even higher, gaini

Sky, formerly known as MakerDAO, is proposing a significant shift: replacing its existing MKR token with a new base token, SKY. This transition aims to streamline governance and potentially enhance the protocol's future development. The proposal, if approved by the MakerDAO governance, will see MKR holders receive SKY tokens at a conversion rate of 1 MKR to 24,000 SKY. This complete transition signifies a bold move for the protocol. While the specific reasons for the rebrand and token swap haven

The latest U.S. initial jobless claims figures have been released, revealing a notable increase. For the week ending recently, initial claims totaled 241,000, surpassing economists' forecasts of 222,000. This marks a significant jump, suggesting a potential cooling in the labor market. Several factors could be contributing to this rise. Companies may be re-evaluating their staffing needs in response to broader economic uncertainties and possible interest rate hikes. While one week's data does no

Despite President Trump's historically low 43% approval rating during his second term's initial 100 days (as reported by CNBC), the US cryptocurrency industry is exhibiting surprising optimism. This positive sentiment stems from several key factors. Firstly, mentions of Bitcoin and its strategic reserves have instilled confidence. Secondly, industry insiders are encouraged by shifts in regulatory approach. The perceived withdrawal of the SEC's enforcement-heavy stance is viewed as a positive dev