Arizona’s legislature has passed a bill establishing a strategic Bitcoin reserve, making it the first state to do so. The bill, which saw votes largely split along party lines, allows the state treasury to invest public funds in Bitcoin. The legislation is now awaiting approval from the Governor.
Fidelity Digital Assets’ Q2 outlook highlights contrasting trends for Bitcoin (BTC) and Ethereum (ETH). Despite Bitcoin’s recent decline from its all-time high, Fidelity anticipates a period of stability. Conversely, the report suggests potential growth opportunities for Ethereum. The analysis is based on market performance in the first quarter, offering insights into the future of these leading cryptocurrencies.
Custodia Bank CEO Caitlin Long alleges the US Federal Reserve is enacting policies that favor big banks in the stablecoin market, despite claims of easing crypto regulations. She criticized the Fed for rescinding some restrictive crypto policies while maintaining a rule from January 2023 that restricts banks from directly interacting with digital assets. This, according to Long, creates an uneven playing field that benefits established financial institutions over newer crypto-focused entities.
Mastercard is expanding its payment capabilities by integrating stablecoins into its network. Partnering with crypto and fintech companies like OKX and Nuvei, the company will allow consumers to spend stablecoins and merchants to receive them. This initiative aims to bridge the gap between traditional payment systems and digital currencies, creating a comprehensive framework for wallet enablement and card functionalities.
Standard Chartered predicts Bitcoin could reach $120,000 in the second quarter of 2025. The forecast, released by the bank’s head of digital assets research, Geoffrey Kendrick, suggests the increase will be driven by asset reallocations and shifts in investment flows.
Solstice Labs is set to launch USX, a Solana-native stablecoin, on April 28, 2025. Built for transparent yield, the stablecoin aims to offer users a new option within the Solana ecosystem. The announcement was made via Chainwire.
Coinbase Asset Management is launching the Coinbase Bitcoin Yield Fund (CBYF) on May 1st. The fund targets institutional investors globally and aims for annual net returns between 4% and 8% through a conservative investment strategy. This new offering provides institutional investors access to Bitcoin-based yield opportunities within a regulated framework.
Strategy, formerly MicroStrategy, has increased its Bitcoin holdings by 15,355 BTC, spending approximately $1.42 billion. The average purchase price was $92,737 per Bitcoin. This recent acquisition brings Strategy’s total Bitcoin holdings to 553,555 BTC. The move comes as the company approaches the end of its record-breaking $21 billion ATM capital raise.
Cryptocurrency investment products experienced a record $3.4 billion in inflows last week, the highest since December 2024, according to CoinShares. The surge, with $3.2B of this specifically going to Bitcoin funds, is attributed to investor concerns about a weakening US dollar and potential tariff effects on corporate earnings. This significant influx suggests a growing perception of Bitcoin as a safe-haven asset.
An Ethereum Foundation researcher, Dankrad Feist, has proposed a dramatic increase to the network’s gas limit. EIP 9698 suggests a 100x increase over four years using automated client-side adjustments. This proposal aims to substantially boost transaction capacity and improve overall network performance within the Ethereum ecosystem.