Hi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
On the 2nd (local time), traders on the decentralized prediction market platform Polymarket predicted a 79% chance that an XRP Exchange Traded Fund (ETF) will be approved by the end of the year.
Seth Wilks, Director of the Virtual Asset (Cryptocurrency) Initiative at the U.S. Internal Revenue Service (IRS), and Raj Mukherjee have reportedly accepted a voluntary resignation proposal from the Department of Government Efficiency (D.O.G.E). According to cryptocurrency-focused media outlet CoinDesk on the 2nd (local time), Seth Wilks is a former VP of Government Relations at TaxBit, and Raj Mukherjee is a former executive at Binance US. They joined the IRS Digital Asset Initiative in February last year, working on building virtual asset reporting, compliance, and enforcement programs. Notably, they were known to have worked on an upgraded version of Form 1099-DA, a form for brokers to report clients' virtual asset transaction information.
Jurrien Timmer, head of global macro at the major US asset management firm Fidelity, stated on the 2nd (local time) via X (formerly Twitter) that "there is a possibility that gold will yield dominance to Bitcoin (BTC) in the near future." Timmer explained, "Ironically, gold and Bitcoin are showing a negative correlation," adding, "In recent years, both assets have alternately led the upward trend based on the Sharpe Ratio." He continued, "Currently, Bitcoin's Sharpe Ratio is -0.40, while gold is at 1.33," and added, "Considering past trends, there is a possibility that Bitcoin will regain dominance soon. It might be time to switch from gold to Bitcoin."
The three major indices of the U.S. stock market closed with gains. The Nasdaq Composite Index rose 1.51% from the previous day to 17,977.73 points. The Dow Jones Index rose 1.39% to 41,317.43 points, and the S&P 500 Index closed at 5,684.13 points, up 1.43%.
According to The Block, a cryptocurrency-focused media outlet, on the 2nd (local time), it was reported that earlier this week, a specific address (starting with bc1qcr) was hacked for 3,520 Bitcoins (BTC, $330.7 million), and with the support of the Binance security team, approximately $7 million of the stolen funds were frozen. At that time, the hacker laundered the stolen funds into Monero (XMR), causing the XMR price to surge.
Robinhood's cryptocurrency trading volume in the first quarter recorded $46 billion, down from the previous quarter's $70 billion, but global securities firm Mizuho Securities assessed that there is "no need to worry." According to cryptocurrency-focused media The Block on the 2nd (local time), Mizuho Securities stated in a report, "Robinhood's monthly trading volume in April exceeded historical levels," and added, "Even when Bitcoin (BTC) prices were rising in the past, the trading volume per Robinhood account did not stagnate." Furthermore, "Bitcoin prices rose by 10% in April," and "as Bitcoin prices rise, take rates (transaction fees) are increasing, and interest continues. This trend is expected to continue," they explained. Additionally, "Coinbase's retail fees are almost three times higher than Robinhood's. Robinhood has ample potential to raise fees," they added. However, Mizuho lowered the target price for HOOD from $80 to $65. The investment opinion was maintained as outperform (a buy or strong buy recommendation).
On the 2nd (local time), according to the cryptocurrency media WuBlockchain, Brown University, a prestigious Ivy League university in the United States, revealed through its recently submitted securities holding report (13F) that as of March 31, it holds 105,000 shares of BlackRock's Bitcoin (BTC) spot exchange-traded fund (ETF). This amounts to approximately $4.9 million and is a newly added asset to Brown University's portfolio in the first quarter of this year. According to the report, Brown University holds a total of 14 stocks, with the total asset value amounting to approximately $216 million.
According to Decrypt, a media outlet specializing in virtual assets (cryptocurrency), Apple has recently eased some regulations related to non-fungible tokens (NFTs) and virtual assets within iOS apps following an antitrust ruling in the United States. This action was taken after Apple lost a lawsuit against Epic Games, leading to a revision of the U.S. App Store guidelines to allow users to choose external payment methods, and enabling NFT purchases through secondary markets. Apple notified iOS developers via email that "in-app purchase policies no longer apply to the U.S. App Store." Developers view this move as a positive turning point for the mobile app ecosystem based on virtual assets. However, Apple still prohibits token rewards, ICOs (Initial Coin Offerings), and virtual asset mining features through apps, leading to evaluations that the easing is limited.
David Marcus, former CEO of PayPal and current CEO of LightSpark, stated in an interview with CNBC on the 2nd (local time) that "Bitcoin (BTC) is not just a store of value and will play an important role in everyday transactions in the future." He said, "In the future, people will commonly use national currencies for daily expenses and hold and use Bitcoin acquired through rewards or microtransactions," predicting that "over time, the balance of Bitcoin held in consumer-managed wallets will gradually increase and will eventually be used like cash." He continued, "A transition to a hybrid system where existing systems and digital assets coexist will occur," analyzing that "the current financial system, which has accumulated over decades and moves trillions of dollars annually, is gradually being dismantled." He also pointed out that "the global economy still relies on slow payment systems and outdated infrastructure that do not match the digitized reality," and that "traditional systems like SWIFT cannot respond to future changes."
According to the cryptocurrency media Watcher Guru on the 2nd (local time), cryptocurrency-friendly U.S. Senator Cynthia Lummis stated that "passing the Bitcoin (BTC) Act is the only way to solve the national debt of 36 trillion dollars."
According to SolidIntel on the 2nd (local time), the virtual asset (cryptocurrency) trading support mobile investment app eToro is reportedly considering a US initial public offering (IPO) early next week. Previously, eToro announced that it would relaunch its IPO for a Nasdaq listing.
Recently, Strategy (formerly MicroStrategy) announced its 42/42 plan to raise $84 billion over the next two years to purchase Bitcoin (BTC), alongside its Q1 earnings. In response, many analysts have raised their target price for MSTR. According to CoinDesk, a cryptocurrency-focused media outlet, Mark Palmer, an analyst at Benchmark, stated, "Strategy has proven its advantage as a leader in Bitcoin acquisition," and expressed confidence in the company's ability to accelerate additional purchases. He further explained, "We have raised the target price for MSTR to $650." Additionally, Lance Vitanza, an analyst at TD Cowen, noted, "Strategy's market value and strong trading liquidity enhance the credibility of the new fundraising plan," and raised the target price to $550.
The three major indices of the U.S. stock market are showing an upward trend. The Nasdaq Composite Index is trading at 17,954.84 points, up 1.38% from the previous day as of 00:22 on the 3rd. The Dow Jones Index is up 0.99% at 41,154.45 points, and the S&P 500 Index is up 1.24% at 5,673.72 points.
According to the virtual asset (cryptocurrency) specialized media Watcher Guru X (formerly Twitter) account on the 1st (local time), the North Carolina Senate has passed the strategic Bitcoin (BTC) reserve bill.
The three major indices of the U.S. stock market closed with gains. The Nasdaq Composite Index recorded a 1.52% increase from the previous day, closing at 17,710.74 points. The Dow Jones Index rose 0.21% to 40,752.78 points, and the S&P 500 Index ended the session up 0.62% at 5,603.42 points.
Global cryptocurrency exchange Kraken reported that its Q1 revenue reached $407 million, a 19% increase from last year. According to Bloomberg on the 1st (local time), the exchange's adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Q1 increased by 17% to $108 million. Trading volume increased by 29%. The average monthly revenue per user decreased by 11% compared to the previous year and by 17% compared to the previous quarter, which the exchange explained was due to the influx of new users.
Paolo Ardoino, the CEO of Tether(USDT), stated in an interview with Cointelegraph on the 1st (local time) that "the reason Tether has not registered as a business in Europe is because the local cryptocurrency regulation law, MiCA, poses potential risks to stablecoins." He pointed out that "cryptocurrency companies must comply with regulations in each country, but in Europe, there are concerns that compliance itself could become a risk," adding that "MiCA could impose significant burdens not only on stablecoins but also on small and medium-sized banks." Ardoino warned that "MiCA requires 60% of stablecoin reserves to be deposited in cash at European banks, which could cause severe liquidity pressure on some banks, potentially leading to bankruptcy within a few years." Meanwhile, it is analyzed that small and medium-sized banks, due to the structure of having to stably manage stablecoin reserves that can be massively redeemed, have limited asset management flexibility and could be exposed to bank run risks in the event of large-scale redemptions.
According to The Block, a cryptocurrency-focused media outlet, on the 1st (local time), the global cryptocurrency exchange Kraken recently announced that it had detected an attempt by North Korean hackers to infiltrate its internal systems by disguising themselves as applicants for engineering positions. Kraken explained, "Instead of immediately reporting or canceling the application of the individual, we continued the hiring process to understand their strategies." They continued, "We requested location information, government-issued IDs, and even asked for recommendations for famous restaurants in the city they claimed to reside in," adding, "As a result, we confirmed that the applicant had repeatedly applied to the cryptocurrency industry and related fields by creating multiple fake identities." Additionally, they noted, "Many of them had previously been employed by real companies, and some were individuals on the U.S. sanctions blacklist."
Michael Ellis, Deputy Director of the US Central Intelligence Agency (CIA), emphasized that "Bitcoin (BTC) is another strategic area where the US must gain an advantage in the technological competition with China." According to Decrypt, a cryptocurrency media outlet, Deputy Director Ellis stated in a podcast interview with the founder of Pomp Investments that "Bitcoin is both a means of competition and a target," and "we can prevent adversaries from utilizing certain technologies, while also collecting information through those technologies." He added, "Bitcoin and cryptocurrencies will exist forever, and more and more institutions are adopting them," and "personally, I think this trend is very positive."
According to Crypto Briefing, a media outlet specializing in virtual assets (cryptocurrency), The Blockchain Group, a French company that has been accumulating Bitcoin (BTC) since last year by benchmarking strategies, announced through a disclosure that it plans to purchase at least 170,000 BTC and up to 260,000 BTC by 2034. This figure corresponds to about 1% of the Bitcoin supply. The company plans to increase its Bitcoin holdings to 1,000-3,000 this year. The current holdings are 620 BTC.
Vlad Tenev, co-founder and CEO of Robinhood, stated during a conference call that "cryptocurrency trading volumes will continue to fluctuate," and that they plan to diversify their business to reduce reliance on this sector. According to DL News, a cryptocurrency-focused media outlet, Robinhood announced its Q1 2025 earnings, reporting that cryptocurrency trading volume decreased significantly to $46 billion from $71 billion in the previous quarter. Meanwhile, revenue based on cryptocurrency trading during the same period was reported to be $252 million.
On the 1st (local time), the global virtual asset (cryptocurrency) exchange Coinbase announced via its official X (formerly Twitter) that it will suspend trading support for Movement (MOVE) at 14:00 (local time) on May 15. The exchange explained that it regularly monitors assets to ensure they meet listing standards.
According to cryptocurrency-focused media outlet CoinDesk on the 1st (local time), Lance Gooden, a Congressman from Texas, proposed to the Administrator of the General Services Administration (GSA) to install cryptocurrency ATMs in all government buildings. In a letter, he stated, "This aligns with President Donald Trump's vision to make the United States a global leader in cryptocurrency and blockchain technology," emphasizing, "GSA has installed cryptocurrency ATMs in some buildings, and I hope they consider expanding this across the United States."
According to Decrypt, a cryptocurrency-focused media outlet, Nexpace announced that it will officially launch the web3 game 'MapleStoryN' on the Avalanche (AVAX) blockchain on May 15. MapleStoryN features the ability for players to own and freely trade in-game assets directly on-chain using the Avalanche blockchain. Nexpace stated, "Approximately 1 million wallets were registered during the MapleStoryN test period."
Bitcoin (BTC) briefly recovered to the $97,000 level. Meanwhile, BTC is trading at $97,387.62, up 3.64% from the previous day, as of 00:15 on the 2nd, based on the Binance Tether (USDT) market.
The three major indices of the U.S. stock market are showing an upward trend. The Nasdaq Composite Index is trading at 17,892.36 points, up 2.56% from the previous day as of 00:12 on the 2nd. The Dow Jones Index is up 0.95% at 41,053.80 points, and the S&P 500 Index is up 1.56% at 5,652.71 points.
On the 30th (local time), the global virtual asset (cryptocurrency) exchange Coinbase announced that it plans to list Worldcoin (WLD). Trading will begin later that day if liquidity conditions are met. Previously, Coinbase had announced that it would add WLD to its listing roadmap.
The three major U.S. stock indices closed mixed. The Nasdaq Composite Index fell by 0.09% to close at 17,446.34 points. The Dow Jones Industrial Average rose by 0.35% to 40,669.36 points, while the S&P 500 Index fell by 0.01% to 5,560.16 points.
Kirill Kretov, an automation expert at CoinPanel, stated in an interview with The Block on the 30th (local time) that "a weaker dollar, increased liquidity due to easing monetary policy, and declining US Treasury yields provide a favorable macro environment for Bitcoin (BTC) and virtual assets (cryptocurrencies)." On this day, the US Department of Commerce's Bureau of Economic Analysis (BEA) announced that the core Personal Consumption Expenditures (PCE) price index in March rose by 0% compared to the previous month. This figure is below the expert forecast of 0.1%. Kirill Kretov explained that "the possibility of the Fed shifting to a dovish stance has increased," and "the virtual asset industry is a market with high potential for growth, but it is also very sensitive to macroeconomic changes."
On the 30th (local time), according to the cryptocurrency-focused media The Block, global payment company Visa and stablecoin payment startup Bridge have partnered to launch a stablecoin-based Visa card. Through the card being launched, users will be able to directly pay for goods and services at Visa card merchants using their stablecoin balance. Bridge will provide the backend infrastructure for users to withdraw their stablecoin balance and convert it to fiat currency. The product is planned to be launched sequentially starting with Latin American countries such as Argentina, Colombia, Ecuador, Mexico, Peru, and Chile. Meanwhile, Bridge is a company founded by former executives of Coinbase and was acquired by global online payment company Stripe last October.