The post BlackRock Met With SEC Crypto Task Force on May 9: Here Are Crucial Details appeared first on Coinpedia Fintech News BlackRock has heavily invested in RWA tokenization to connect TradeFi and DeFi seamlessly. The U.S. SEC has a huge backlog of crypto ETFs applications but has been waiting for regulatory greenlight from the Congress. BlackRock Inc. (NYSE: BLK), a top-tier fund manager with over $10 trillion in assets under management (AUM), has made significant entry into the blockchain space and the wider digital asset industry. The New York headquartered investment management firm has made clear intentions to tokenize the U.S equity securities market on major blockchains. Furthermore, BlackRock intends to scale its operations globally to all investors seeking to tap into traditional financial products through the web3. Already, BlackRock has succeeded in launching two spot crypto ETFs, including Bitcoin (BTC) and Ethereum (ETH). At the time of this writing, BlackRock’s IBIT had a cumulative net cash inflow of about $44 billion, thus currently managing about $62.91 billion in net assets. Meanwhile, BlackRock’s ETHA had recorded a net cumulative cash inflow of about $4.2 billion since inception, thus currently managing about $2.6 billion. BlackRock Seeks Further Crypto Regulatory Guidance from the U.S. SEC On Friday, May 9, BlackRock met with the U.S. SEC Crypto Task Force and sought guidance on crypto staking, RWA tokenization , ETF approval standards, and options on ETFs. Furthermore, under SEC Chair Paul Atkins , BlackRock is well-positioned to have more crypto products approved in the near term. The crypto staking feature would provide BlackRock’s investors more avenues to earn more profits. BlackRock discussed with the SEC’s Crypto Task Force the perspectives on treatment of staking, including consolidation for facilitating ETPs with staking capabilities. As for the crypto ETP approval standards, BlackRock and the SEC’s Crypto Task Force discussed specific factors and regulations that may be applied in approval of ETPs.
Ethereum just pulled off the wildest comeback it’s had in four years. This week, the second-biggest crypto jumped 25%, the largest weekly gain it’s posted since May 2021. The rally didn’t happen in isolation. The entire crypto market heated up, and Bitcoin led the charge—holding its ground well above $100,000. At press time, Bitcoin stood at $103,249, up 2% for the day, with earlier highs hitting $104,324, the strongest since late January, according to data from CoinGecko. Bitcoin closed the week more than 6% higher and logged its fourth straight winning week, the first time that’s happened since November. All this came as whales kept buying, ETFs broke records, and macro news lightened up. According to CNBC , investors started to relax after the US–UK trade mini-deal and signs of potential tariff relief with China, which helped riskier assets get a lift—including crypto. Bitcoin leads while Ether, Solana, and XRP claw back ground The market-wide rebound didn’t skip the altcoins, though they’re still far behind. Ether, after dragging for most of the year, saw a two-day rise of 29%, driven by its strong 10% gain on Thursday. Meanwhile, Solana’s token went up 6% and posted a 16% two-day jump. For the full week, Solana added 14.3%, its best weekly move since January. XRP, riding high off the conclusion of the infamous SEC-Ripple case, has surged by 5.1% in the past twenty-four hours. Part of Ether’s surge came after Ethereum’s Pectra upgrade went live. That network update cut fees, made staking easier, and introduced support for smart wallets. That gave traders a push to jump in, especially those who had been avoiding the token due to network congestion and high gas costs. Still, Ether and Solana haven’t recovered from earlier losses. Year-to-date, Ether is down 31%, and Solana is down 12%, even after the rebound. Bitcoin, on the other hand, is up 10% for the year. XRP is the only major altcoin that didn’t lose ground over that stretch. ETF flows boost Bitcoin while altcoins lack real buyers Bitcoin’s structure changed fast after spot ETFs launched in 2024. The money now comes from retirement portfolios, macro hedge funds, and even corporate bond strategies. That kind of buyer base is sticky since it doesn’t panic-sell, so it’s given Bitcoin a clear edge. Altcoins still rely on traditional crypto-native capital—money that reacts quickly to rate hikes, tech sector moves, and social media trends. Eric Chen, co-founder of Injective, said altcoins haven’t seen the same level of demand because the current interest rate setup hasn’t allowed the tech sector or speculative capital to grow meaningfully. Eric also warned that unless new demand shows up, Ether and other altcoins might go lower before going higher. He pointed to their steady supply and the absence of any structural buyer base as the main risk. Over at Wolfe Research, analyst Read Harvey agreed. “There remains one singular strategy for crypto investors: stick to BTC until risk on headwinds dissipate,” Read said in a note. He added that Bitcoin is one of just two assets in their basket that’s in the green this year. The question now, according to him, is whether Bitcoin can keep outperforming other assets like stocks—or if it’s gold, not crypto, that ends up being the safer long-term play. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
BlackRock’s ETF applications boost cryptocurrency market dynamics. Incorporating staking could make Ethereum ETFs more profitable. Continue Reading: BlackRock Drives Bitcoin and Ethereum Surge: An Unmatched Force in Cryptocurrency The post BlackRock Drives Bitcoin and Ethereum Surge: An Unmatched Force in Cryptocurrency appeared first on COINTURK NEWS .
A bill designed to overhaul stablecoin regulation in the US halted in the Senate amid partisan negotiations. Senator Bill Hagerty (R-TN) introduced the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in February. The potential legislation would require stablecoin issuers to maintain backing for their assets on a 1:1 ratio. The bill also states that stablecoin issuer reserves can be made up of US currency; funds held as demand deposits or insured shares at an insured depository institution; and Treasury bills, notes or bonds. A group of Democrats, including some lawmakers who previously supported the legislation in committee, announced over the weekend that they wanted to pass new stablecoin legislation but believed the GENIUS Act still had outstanding issues. “The bill as it currently stands still has numerous issues that must be addressed, including adding stronger provisions on anti-money laundering, foreign issuers, national security, preserving the safety and soundness of our financial system, and accountability for those who don’t meet the act’s requirements.” One of the Democrats, the pro-crypto Senator Ruben Gallego (D-AZ), said on Thursday that there had been some meaningful bipartisan discussions on the bill this week, but he argued that lawmakers needed additional time to perfect the potential legislation. “I went to the floor and asked for more time to negotiate, without delaying the bill’s timeline for final passage. Republicans refused. Without more time to at least finish the bill text, there was no true bipartisan path forward. “I will always be willing to continue to work on bipartisan stablecoin legislation. America must lead in this space and consumers deserve to be protected.” The GENIUS Act faced a cloture vote on Thursday and got shot down by a vote of 48-49. Cloture votes, which require 60 “yeas” to pass, end the debate on bills and prevent filibusters. Kristin Smith, chief executive of the Blockchain Association, urged the debate on the bill to continue. “We look forward to next steps in this process and continued bipartisan discussion.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post US Stablecoin Legislation Halts in Senate Amid Partisan Bickering appeared first on The Daily Hodl .
The founder of the collapsed crypto platform Celsius has been sentenced to 12 years behind bars. Alexander Mashinsky was initially arrested in July 2023 on charges of violating securities law by the U.S. Securities and Exchange Commission (SEC). In December 2024, he pleaded guilty to a multi-billion-dollar crypto fraud. The Department of Justice (DOJ) said Mashinsky falsely represented Celsius as a safe and secure platform and exaggerated its potential for profitability, greatly inflating its user base. After Mashinky’s lawyers asked for a lenient , one-year sentence earlier this week, the former Celsius CEO was handed a 12-year sentence by the courts yesterday, according to a US Attorney’s Office press release. Said US Attorney Jay Clayton in a statement: “ Alexander Mashinsky targeted retail investors with promises that he would keep their ‘digital assets’ safer than a bank, when in fact he used those assets to place risky bets and to line his own pockets. In the end, Mashinsky made tens of millions of dollars while his customers lost billions. America’s investors deserve better. The case for tokenization and the use of digital assets is strong but it is not a license to deceive. The rules against fraud still apply, and the SDNY (Southern District of New York) will hold those who flout them accountable for their crimes.” According to Reuters, Mashinky’s representatives have not yet commented on the ruling. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/zeber The post Founder of Crypto Lending Platform Celsius Sentenced to 12 Years in Prison for Fraud appeared first on The Daily Hodl .
Coinbase’s recent acquisition of Deribit marks a significant milestone in the crypto derivatives market, setting the stage for 24/7 trading convenience. With the introduction of round-the-clock futures trading for Bitcoin
The resurgence of Solana meme coins has captured attention, with viral tokens experiencing substantial gains amidst a broader market rebound. In recent days, Bitcoin has surpassed the $100,000 mark, while
Taiwan legislator Ko Ju-Chun has advocated for the inclusion of Bitcoin as a strategic reserve asset for the country. He emphasized Bitcoin's fixed supply, decentralization, and resistance to seizure as key attributes that make it a suitable hedge for Taiwan's export-driven economy, particularly amid rising geopolitical risks. Ko Ju-Chun suggested that Bitcoin should be held alongside traditional reserves such as gold and foreign exchange to enhance the resilience and adaptability of Taiwan's financial system. He described Bitcoin as "the gunpowder of the digital era," highlighting its potential strategic importance. This move reflects a broader trend in Asia toward preparing for digital asset integration in national financial strategies. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Steak ‘n Shake’s Bitcoin acceptance begins on May 16, marking a major fast food shift. The fast food chain tests Bitcoin’s scalability with high-volume, small-ticket transactions. Over 100 million Steak ‘n Shake customers will gain access to crypto payments. American fast food chain Steak ‘n Shake has announced that it will begin to accept Bitcoin at all locations across the United States from May 16. This makes it one of the largest restaurant chains to fully embrace the leading cryptocurrency. The initiative, acknowledged through the company’s X account on May 9, intends to provide over 100 million customers with a new means of payment, representing a crucial milestone toward crypto adoption. Steak n Shake accepting Bitcoin payments at all locations starting May 16, making the cryptocurrency available to our more than 100 million customers. The movement is just beginning…. —Steaktoshi pic.twitter.com/1SGMifDZep — Steak 'n Shake (@SteaknShake) May 9, 2025 Bitcoin Payments Set to Test Fast Food Scalability The decision to accept Bitcoin comes after months of social media hints and community engagement. In March, Steak ‘n Shake sparke… The post Steak ‘n Shake to Accept Bitcoin at All U.S. Locations Starting May 16 appeared first on Coin Edition .
The exchange on Thursday said it was buying options exchange Deribit.