Odaily News Baanx has partnered with Visa to launch a stablecoin payment card tied to a self-hosted wallet, and will initially support USDC issued by Circle. The card enables cardholders to spend USDC directly from their crypto wallets, and uses smart contracts to transfer USDC balances to Baanx in real time upon authorization, which will then be converted into fiat currency to complete the payment. Baanx is also working with Mastercard to develop a wallet card tied to MetaMask. Baanx said: We are giving people the ability to hold and spend USD stablecoins in a self-hosted, real-time manner - this is the future of finance.

Odaily News Solana Policy Institute, Superstate Inc., Lowenstein Sandler LLP and Orca Creative submitted a new framework to the U.S. Securities and Exchange Commission (SEC) Crypto Task Force on Wednesday to bring equity securities such as stocks to the blockchain. The pilot project is called Project Open. Solana Policy Institute said that Project Open is a manifestation of the progress of financial innovation in the United States and can improve the transparency of the U.S. financial market, achieve instant settlement and reduce costs. BlackRock CEO Larry Fink also pointed out: Every stock, every bond, every fund - every asset - can be tokenized.

Odaily News Tether CEO Paul Ardoino said in an interview with CNBC on April 30 that Tether plans to launch a stablecoin product in the United States as early as this year, and the specific timing depends on the progress of US lawmakers on stablecoin legislation. He called Tethers USDT the best product the United States has ever produced - the largest exporter of the US dollar, with a current market value of nearly $150 billion and a market share of about 66% of the stablecoin market. Ardoino emphasized that Tether is actively working with law enforcement agencies to demonstrate the benefits of USDT to the US economy.

Odaily News Robinhood released its first quarter 2025 financial report, with quarterly cryptocurrency trading revenue reaching $252 million, a year-on-year increase of 100%, but down from $358 million in the fourth quarter of 2024. Crypto trading volume in the same period was $46 billion, down from $70 billion in the previous quarter. The total volume of crypto trading in 2024 was $141 billion, mainly driven by a surge in the fourth quarter. The companys revenue increased 50% year-on-year to $927 million, and diluted earnings per share were $0.37, a year-on-year increase of 10%.

The crypto industry has seen a significant shift toward regulatory compliance since its early days, according to James Smith, co-founder of Elliptic, a crypto compliance firm established in 2013. “In the early days, only a few companies approached compliance in a serious way,” Smith told Cointelegraph at the Token2049 event. “Coinbase was our first customer — they knew from the start that they wanted to build their business that way. But for most others, it just wasn’t a major priority.”Elliptic co-founder James Smith at Token2049. Source: Cointelegraph That began to shift as regulators, including those in New York State, took a more active interest in the crypto industry. The involvement of traditional financial institutions like Fidelity and DBS Bank also contributed, as they entered the space with established compliance expectations from traditional finance services. Fidelity, for instance, offered its first crypto service for customers in 2019, while the Asian giant DBS created a digital exchange for accredited and institutional investors in 2020. “We've seen a big change in the last couple of years. Exchanges on the global map all care about compliance now, because they want to be part of a global ecosystem,” Smith said. Related: DeFi security and compliance must be improved to attract institutions Compliance questions after Bybit hack Crypto exchanges and peer-to-peer protocols remain the industry’s key compliance targets. For authorities, these firms are seen as critical choke points where Anti-Money Laundering and broader financial surveillance controls take effect. At the same time, they’re frequent candidates for sophisticated hacks and laundering operations, as seen in the Lazarus Group’s tactics. The latest example comes from the Bybit hack, where the Lazarus Group engaged in a sophisticated money laundering scheme to funnel funds. The hackers quickly swapped low-liquidity tokens for Ether (ETH), then swapped them for Bitcoin (BTC) using no-KYC (Know Your Customer) decentralized exchanges. “They went through some no KYC exchanges, which probably shouldn't exist, but also through a decentralized protocol where there was lots of liquidity provision that enabled them to get it into Bitcoin,” Smith said, adding that “we’re making it too easy for them as an industry.” Smith also noted that even after firms flagged the funds as stolen, users continued to trade them through decentralized platforms. “Why was there so much liquidity available to help launder this money?” he said, arguing that those providing liquidity to such protocols should be subject to basic checks on the source and destination of funds. “Go and look at who's making money. And that's the first place to start putting some controls.” Magazine: Lazarus Group’s favorite exploit revealed — Crypto hacks analysis

Bloomberg Intelligence has boosted its estimated odds of US regulators approving a Solana exchange-traded fund (ETF) in 2025 to 90%, according to an April 30 post on the X platform. The company also set more favorable chances of approval for other altcoin ETFs, including proposed funds holding XRP (XRP) and Dogecoin (DOGE), Bloomberg analyst Eric Balchunas said in an X post. The estimates reflect an improved outlook from Bloomberg analysts. In a February analysis, Bloomberg pegged the odds of a Solana (SOL) ETF approval at only 70%. They ascribed a 65% and 75% chance of approval to funds holding XRP and DOGE, respectively. As of April 30, six asset managers — including Grayscale, VanEck and 21Shares — are awaiting clearance from the US Securities and Exchange Commission (SEC) to list ETFs holding the Solana blockchain network’s native cryptocurrency. The same number of issuers are waiting on approval for XRP ETFs, and three are seeking approval for DOGE funds, according to Bloomberg data. The SEC has until October to review and potentially approve the proposed funds. Revised altcoin ETF approval odds. Source: Bloomberg Intelligence Related: SEC acknowledges slew of crypto ETF filings as reviews, approvals accelerate Altcoin ETF mania Asset managers are seeking the SEC’s permission to list dozens of altcoin ETFs, with up to 70 crypto ETFs awaiting the agency’s review as of April. The deluge of filings reflects US President Donald Trump’s efforts to soften the SEC’s regulatory posture toward cryptocurrencies since taking office in January. In March, the Chicago Mercantile Exchange (CME), the US’s largest derivatives exchange, listed futures contracts tied to Solana. According to Chris Chung, founder of Solana-based swap platform Titan, the listing on the regulated futures exchange signals that approvals for Solana ETFs could be next. “[T]he timeline could extend into 2026 due to the SEC’s precedent of taking […] 240–260 days to review filings,” Bloomberg analyst James Seyffart also said in a previous forecast. In April, US securities exchange Nasdaq asked regulators for permission to list a 21Shares ETF holding Dogecoin, adding to the roster of DOGE funds awaiting a US public listing. Magazine: TV hit Peaky Blinders to launch crypto game, FIFA Rivals on Polkadot: Web3 Gamer

US-based cryptocurrency exchange Coinbase has filed an amicus brief in the country’s Supreme Court in support of a taxpayer fighting the Internal Revenue Service (IRS) gaining access to his data from a digital asset platform. In an April 30 filing in the Supreme Court of the United States (SCOTUS), lawyers for Coinbase argued that a First Circuit Court of Appeals decision set a “dangerous precedent” for crypto users, potentially allowing the government to “trace users’ every crypto transaction in the past and monitor every crypto transaction in the future.” The appeal to the Supreme Court stemmed from petitioner James Harper, a Coinbase user, who took legal action against the IRS after the crypto exchange was forced to turn over transaction data to the government using a sweeping “John Doe” summons in 2017. “This case directly affects Coinbase’s interest in protecting the privacy rights of its users and in the correct application of this Court’s doctrine on constitutional guarantees against warrantless government demands for third-party service providers to surrender users’ personal information,” the brief reads. “If the First Circuit’s ruling is allowed to stand, the Fourth Amendment will give no protection to millions of law-abiding Americans who routinely share intimate personal information with the third parties that ubiquitously store, transmit, or provide services based on that data,” it added. April 30 Coinbase amicus brief. Source: US Supreme Court An amicus brief is a filing in support of a plaintiff by an entity that is not directly involved. The case before the court has the potential to set significant precedents for digital privacy rights for crypto users and how the IRS will be allowed to gather data on taxpayers. Both the US District Court for the District of New Hampshire and the First Circuit have ruled against Harper’s petition, leaving the Supreme Court as his last option for an appeal. Related: IRS crypto tax reporting rules threat to industry — Coinbase legal chief “We believe in tax compliance, but this goes far beyond a narrow and tailored request and far beyond crypto,” said Coinbase chief legal officer Paul Grewal, in an April 30 X post. “This applies to banks, phone companies, ISPs, email, you name it [...] you should have the same right to privacy for your inbox or account as you have for a letter in your mailbox. “ It’s unclear whether the court will take up the case. SCOTUS typically releases its opinions to the public in June. Since first being filed in 2020, many industry advocates have filed similar amicus briefs in support of Harper, including social media company X and the DeFi Education Fund. Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set

US Dollar-pegged stablecoins are on track to reach an aggregate market capitalization of approximately $2 trillion by 2028, according to the United States Department of the Treasury’s Q1 2025 report. Stablecoins’ cumulative market cap currently stands at roughly $230 billion, but “[e]volving market dynamics [have] the potential to accelerate stablecoins’ trajectory to reach ~$2tn in market cap by 2028,” the Treasury said in the April 30 report. A stablecoin is a cryptocurrency whose value is pegged to a traditional asset like the US dollar. According to the report, such tokens are already “ubiquitously utilized as ‘cash on-chain,’ effectively serving as a new payment mechanism.” Additionally, the emergence of “tokenized [money market funds] has recently created an alternative option to stablecoins, primarily given their yield-bearing feature,” the report reads. Treasury on stablecoins’ impact. Source: US Treasury Related: Stablecoins boosting demand for US T-bills: Treasury Dept Embracing tokenization The report is the latest example of how the US government is embracing blockchain technology, especially after US President Donald Trump commenced his second term of office on Jan. 20. The Treasury previously endorsed cryptocurrency in December, noting that the technology promises to create a “new financial market infrastructure,” potentially increasing global demand for US Treasury bills. US Dollar-pegged stablecoins such as Tether (USDT) and USDC (USDC) invest fiat backing into yield-bearing instruments such as US Treasurys. “[B]ecause most stablecoin collateral reportedly consists of either Treasury bills or Treasury-backed repurchase agreement transactions, the growth in stablecoins has likely resulted in a modest increase in demand for short-dated Treasury securities,” the Treasury said in December. The current state of stablecoins. Source: US Treasury In its April report, the Treasury said that pending stablecoin legislation would “require stablecoin issuers to hold [short-dated] T-bills,” thus solidifying the link between stablecoin adoption and US Treasury bill demand. The report also noted that the proliferation of stablecoins could put pressure on retail banks to pay higher interest rates to depositors. As of April 25, Tether’s USDT is the dominant stablecoin, commanding approximately 66% of market share, according to a report by researcher Nansen. The token has a market capitalization of roughly $150 billion, according to CoinGecko. Circle’s USDC ranks second, with a market capitalization of approximately $60 billion as of April 30. Magazine: TV hit Peaky Blinders to launch crypto game, FIFA Rivals on Polkadot: Web3 Gamer

Odaily News OKX market shows that ETH has broken through 1800 USDT and is now at 1800.6 USDT, with a 24-hour increase of 0.98%. (This newsletter is generated with the assistance of AI)

Tether plans to launch a stablecoin product in the United States as soon as this year, the stablecoin issuer’s CEO, Paul Ardoino, said in an April 30 CNBC interview. Tether’s flagship stablecoin, USDT (USDT), is already the US dollar’s top “exporter,” Ardoino told CNBC. It has a market capitalization of nearly $150 billion, according to data from CoinGecko. Now, Tether is preparing to expand into the US market “by the end of this year or early next year, at the fastest,” Ardoino said, adding that the timing depends on US lawmakers’ progress on stablecoin legislation. The stablecoin issuer is working to woo US regulators by proactively collaborating with law enforcement and highlighting USDT’s benefits for the US economy. "We are just exporters of what we believe to be the best product the United States ever created — that is, the US dollar,” the CEO said. Tether's USDT has 66% of the stablecoin market share. Source: Nansen Related: Tether still dominates stablecoins despite competition — Nansen Market leader As of April 25, USDT commanded a roughly 66% market share among stablecoins, according to Nansen, a Web3 researcher. Tether is also the most profitable stablecoin issuer, logging a net income of nearly $14 billion in 2024. It earns revenue by accepting US dollars to mint USDT and then investing those dollars into highly liquid, yield-bearing instruments such as US Treasury bills. Still, USDT’s popularity is largely limited to users outside of the United States, where rival stablecoin USDC (USDC) is dominant. Tether designed USDT “for the people that live in small villages in Africa... [or] a shop owner in Istanbul,” Ardoino told CNBC, adding that Tether is developing a “different product” for the US. Adoption of USDC has accelerated in the wake of US President Donald Trump’s November election win, Nansen said in an April 25 report. Circle’s USDC has a market capitalization of more than $60 billion, CoinGecko data shows. However, USDT is still likely to maintain its leading position in the stablecoin market. “Despite the potential dispersion in stables, we inevitably believe this is a ‘winner-takes-most’ market dynamic,” the Web3 researcher added. Magazine: Bitcoin payments are being undermined by centralized stablecoins

Governments outside the US, including Singapore, are increasingly interested in stablecoins not tied to the US dollar, despite their currently limited liquidity, Fireblocks director of policy Dea Markova told Cointelegraph at Token2049. In an exclusive interview, Markova described the competition with dollar-pegged stablecoins as “all about sovereignty.” She compared the situation to earlier tensions between governments and US payment giants like Visa and Mastercard. “Now we’re seeing the same dynamic with stablecoins — on a smaller scale for now — but they’re definitely emerging as a new arena for sovereign concerns,” she said. According to Markova, dollar-pegged stablecoins operating in the European Union are already "having a massive headache," particularly from central banks. "Even though they're compliant and regulated, they're having a fixed push back.” Dea Markova at Token2049. Source: Cointelegraph The European Central Bank is increasing pressure to accelerate the development of a digital euro, citing concerns over the systemic impact of dollar-linked stablecoins within the eurozone. On April 29, the Bank of Italy released a report saying dollar-pegged stablecoins’ reliance on US Treasury bonds could increase systemic risk vulnerabilities. Stablecoins’ market capitalization is dominated by dollar-pegged coins, especially Tether’s USDT (USDT) and Circle’s USDC (USDC). According to DefiLlama, those two coins combine for $210.9 billion (or 87.2%) of the $241.8 billion total market cap for such tokens. In fact, all 10 of the top stablecoins are pegged to the dollar. Top 10 stablecoins by market cap. Source: DefiLlama For Markova, the situation is similar to previous conflicts between governments and US payment giants like Visa and Mastercard. “Now we’re seeing the same dynamic with stablecoins — on a smaller scale for now — but they’re definitely emerging as a new arena for sovereign concerns,” she said. UAE ahead on ‘regulatory thinking’ Markova added that the United Arab Emirates is “definitely ahead in its regulatory thinking” on stablecoins. She cited Abu Dhabi as an example, noting that the emirate does not require stablecoin issuers to be domiciled or licensed locally, unlike the regulatory approach in Europe. Markova explained that Abu Dhabi's approach is to conduct its due diligence on global stablecoins and decide whether local exchanges can offer them. "[...] is a far more reasonable approach to give local businesses access to global liquidity and payments.” In December 2024, USDT was approved as a recognized virtual asset in Abu Dhabi, followed by Circle receiving regulatory approval for USDC on April 29. Meanwhile, Abu Dhabi institutions are collaborating on the launch of a regulated dirham-pegged stablecoin. Related: ECB exec renews push for digital euro to counter US stablecoin growth

Odaily News US President Trump told Musk: You can stay as long as you want. Musk has helped a lot, but he has been unfairly treated and he wants to return to his car business. (Jinshi)

Odaily News Recent U.S. economic data has been mixed, including slowing GDP growth, falling consumer spending and a weak job market, sparking market expectations that the Federal Reserve may turn to a dovish stance at its May policy meeting. Analysts believe that if the Fed slows down rate hikes or considers cutting rates, it will be beneficial to the performance of risky assets such as Bitcoin. Citi Chief Economist Andre Hollenhorst said that continued weakness in the labor market could prompt the Fed to cut interest rates faster than the market expects. Currently, the market only expects a 50 basis point rate cut by mid-2026. Bitcoin prices have recently fluctuated between $93,000 and $95,000, and investors are paying attention to the impact of changes in the Feds policies on its trend. (The Block)

PANews reported on May 1 that according to the announcement of Coinbase Assets, Coinbase will support Mantle (MANTLE) tokens (ERC-20) on the Ethereum network. Transferring funds through other networks may result in loss of funds. If liquidity conditions are met, the MANTLE-USD trading pair will be launched in stages after 0:00 on May 2, Beijing time.

PANews reported on May 1 that according to the announcement of Coinbase Assets, Worldcoin (WLD) has been added to the Coinbase Assets launch roadmap, and its Optimism network contract address is announced as 0xdc6ff44d5d932cbd77b52e5612ba0529dc6226f1. The launch time of the transaction is still subject to the support of market makers and technical preparations, and the specific launch time will be notified separately.

Odaily News According to official news, Coinbase added WLD to its coin listing roadmap.

Odaily News Coinbase has now stopped trading in Maple (MPL). Funds are still available to users and you continue to be able to withdraw funds at any time. Maple (MPL) has migrated to a new version of its token (SYRUP). This migration will end at 5 pm EST on April 30, 2025. Coinbase has added support for SYRUP, but Coinbase will not migrate these assets on behalf of customers.

PANews reported on April 30 that according to the Binance Wallet announcement, due to abnormal staking issues during the 11th Token Generation Event, the platform decided to fully compensate users for the Gas fees they incurred. At present, all 95,864 compensations have been issued to the Binance spot accounts of affected users. The official said that it will continue to optimize product and user protection measures.

PANews reported on April 30 that Moonshot announced the launch of Solana’s new coin Trencher ($TRENCHER). Its current market value is approximately $8.7 million, and its 24-hour trading volume is $26.8 million.

Odaily News According to official news, Binance stated that the platform has decided to pay full compensation for the network fee losses caused by the abnormal staking of the 11th TGE. At present, 95,864 compensation fees have been paid to the Binance spot accounts of affected users.