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Franklin Templeton Backs Bitcoin $BTC DeFi Push, Citing ‘New Utility’ for Investors"I don’t think focusing on Bitcoin DeFi will dilute or complicate Bitcoin’s core narrative." Farrelly said.

The narrative around bitcoin $BTC is expanding beyond its traditional role as a store of value.

Franklin Templeton's Kevin Farrelly sees this as a positive step.

"A lot of interesting Bitcoin DeFi use cases can make Bitcoin assets more valuable, give users more reason to hold and use in the future," said another industry insider.

As the Dubai Token2049 conference concludes, one key takeaway is that the narrative around bitcoin (BTC) $BTC is swiftly expanding beyond its traditional role as a store of value to a potential DeFi asset competing with Ethereum and Solana.

Prominent industry players like Franklin Templeton view this development as a positive step, confident it will enhance bitcoin’s utility without diluting its core appeal as a store of value as purists or maximalists fear.

"I don’t think focusing on Bitcoin DeFi will dilute or complicate Bitcoin’s core narrative," Kevin Farrelly, managing principal of blockchain venture capital at Franklin Templeton and VP of Digital Assets, explained during his keynote speech at the Bitlayer side event this week. "Instead, it expands Bitcoin’s utility for a specific type of investor — one with enough technical sophistication to optimize for yield, security, or custom portfolio needs."

Strategy’s $84B Bitcoin $BTC Expansion Plan Backed by Wall Street Analysts

Sell-side bulls from Benchmark and TD Cowen viewed Michael Saylor and team's plan as a bold yet realistic escalation of its bitcoin-focused strategy amid rising institutional interest.

Benchmark and TD Cowen both reiterated buy ratings, calling the new capital raise strategy ambitious but credible.

Strategy now targets a 25% bitcoin yield and $15B in $BTC gains by 2025, up from previous projections.

The company has already raised $28.3B and aims to bring in another $56.7B over the next 32 months.

"While the number of companies that have sought to replicate Strategy’s bitcoin $BTC acquisition strategy has continued to grow rapidly … MSTR yesterday issued a reminder of the extent of its first-mover advantage and how its ability to accelerate its accumulation of bitcoin has continued to increase as its platform has scaled," wrote Benchmark's Mark Palmer, reiterating his buy rating and $650 price target.

Though MSTR trades at more than double the value of its bitcoin holdings, Palmer says that level is "attractive" thanks to Executive Chairman Michael Saylor and team's "demonstrated ability to create shareholder value through its treasury operations."

Alongside reporting its first quarter results Thursday evening, Strategy announced an expansion of its recent 21/21 plan — raising $42 billion via issuance of common stock and debt (or debt-like securities) — to a total of $84 billion.

Both analysts also praised Strategy’s decision to increase its bitcoin-related performance targets, including raising its 2025 BTC Yield target to 25% (from 15%) and BTC $ Gain to $15 billion (from $10 billion). Benchmark's Palmer pointed out that the company has already achieved ~90% of its original BTC Yield target in just four months.

MSTR shares are higher by 1.8% to $388 early Friday as bitcoin continues to tread water just below the $97,000 level.

Binance to List StakeStone (STO) with Airdrop Rewards for BNB Holders

Binance has revealed plans to list StakeStone (STO), a token supporting liquid staking, on its spot trading platform. This move comes after STO’s inclusion in the 17th round of Binance’s HODLer Airdrops initiative.

As detailed in the May 2 announcement, BNB holders who subscribed to Simple Earn (Flexible or Locked) or On-Chain Yield products between April 27 and April 29, 2025, will receive STO tokens via retroactive airdrop. Spot trading for STO is scheduled to launch at 16:00 UTC on May 2, with the following trading pairs: STO/USDT, STO/USDC, STO/BNB, STO/FDUSD, and STO/TRY.

Token Information and Launch Details

Token Name: StakeStone (STO)

Total Supply: 1,000,000,000 STO

Circulating at Launch: 225,333,333 STO

Airdrop Allocation: 15,000,000 STO (1.5% of total supply)

Supported Chains: BNB Smart Chain & Ethereum

BNB Smart Chain Contract: 0xdAf1695c41327b61B9b9965Ac6A5843A3198cf07

Ethereum Contract: 0x1D88713b483A8E45cfF0e5CD7c2e15E5Fab4534d

Prior to listing, STO is available on Binance’s Alpha Market. It will be removed from Alpha once spot trading begins. Users may deposit STO up to two hours before the official listing time.

Airdrop Distribution and Eligibility Criteria

Under the HODLer Airdrops program, Binance distributes airdrops to BNB holders based on balance snapshots taken multiple times per hour during the eligibility period. STO tokens will be distributed at least one hour before trading begins.

To promote fair access, Binance has implemented a cap on individual BNB holdings—no user may exceed 4% of the total eligible pool.

An additional 15 million STO tokens (1.5% of the total supply) will be set aside for future promotional activities starting three months after the listing.

Bitcoin Surges Past $97K Amid Growing Optimism Over Potential U.S.-China Trade Agreement

Market Snapshot: Bitcoin Tops $97K on Hopes for U.S.-China Trade Progress

Bitcoin $BTC Breaks $97K: The leading cryptocurrency is trading above $97,000 as market sentiment improves amid renewed hopes for U.S.-China trade discussions, though doubts remain about an imminent resolution.

$100K in Sight: Analysts believe Bitcoin could reach $100,000, fueled by strong market liquidity, increased institutional interest, and a surge in speculative activity in the altcoin space.

AI Tokens on the Rise: AI-focused cryptocurrencies continue to gain momentum. Kava Labs recently surpassed 100,000 users, reflecting growing demand for decentralized and transparent AI platforms.

Bitcoin ($BTC BTC) surged past $97,000 during Asian trading hours, buoyed by renewed optimism that the U.S. and China are engaging in trade negotiations. While hopes for progress have lifted market sentiment, skepticism remains over whether a formal agreement will materialize in the near term.

$BNB Users — Don’t Miss the $8,000,000 Velvet Airdrop on Binance!

Get ready for one of the biggest airdrop events of the season! Binance Web3 Wallet is your gateway to participating in the Velvet Airdrop, with a massive reward pool of 800,000 $VELVET tokens, valued at $8,000,000.

🚀 How to Join:

1. Install & Set Up Binance Web3 Wallet

Create or import your wallet directly via the Binance app.

2. Switch to BNB Smart Chain (BSC)

Ensure your wallet is connected to BSC to qualify.

3. Access the Velvet Airdrop Page

Visit the official Velvet airdrop link via Binance Web3.

4. Complete the Required Tasks:

Social Tasks: Follow, share, and engage with Velvet’s social platforms.

Swap Task: Perform a token swap via Binance Web3 Wallet.

Deposit Task: Make a qualifying deposit to the wallet.

5. Verify Your Tasks:

Confirm your eligibility and track your progress.

🎁 Total Rewards: 800,000 $VELVET Tokens

Don’t miss your chance to be part of the future of Web3 — with real rewards and seamless participation through Binance.

⏰ Act fast — the airdrop is live now!

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