Senator David McCormick, a member of the Senate Subcommittee on Digital Assets, has purchased up to $250,000 worth of shares in Bitwise's spot Bitcoin ETF (ticker: BITB). McCormick, the newly elected Senator from Pennsylvania and former CEO of a major hedge fund, has also acquired approximately $1.1 million in Bitwise Bitcoin ETF shares year-to-date. His recent investments highlight his active involvement in crypto-related assets while serving on the Senate committee overseeing digital assets. 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
The high demand for SOL, combined with the liquidity pockets up above, meant a a move to $160 and $168 was likely.
Hey crypto enthusiasts! Big news just dropped concerning the world’s largest stablecoin. It looks like Tether (USDT) has been busy putting a freeze on significant amounts of its token circulating on two major blockchains. This isn’t the first time Tether has taken such action, but the scale and the networks involved make it particularly noteworthy. What’s Happening with Tether USDT Freezing? According to data shared by the blockchain analytics firm MistTrack on X (formerly Twitter), Tether recently froze a substantial amount of Tether USDT . The total value frozen is approximately $28.7 million. Here’s a quick breakdown: Tron (TRX) Network: Around $28.67 million in USDT was frozen across 12 different addresses on the Tron blockchain . Ethereum (ETH) Network: Approximately $99,630 in USDT was frozen on a single address on the Ethereum blockchain . This action highlights a critical aspect of centralized stablecoins like USDT: the issuer’s ability to control assets under certain circumstances. Why Does Tether Perform a Crypto Freeze? You might be wondering why a stablecoin issuer would freeze user funds. Tether has consistently stated that such actions are taken primarily in response to requests from law enforcement agencies and regulatory bodies around the world. These requests are typically linked to investigations involving illicit activities, such as fraud, money laundering, or terrorism financing. Think of it as a digital equivalent of freezing bank accounts suspected of criminal involvement. While blockchain technology offers transparency, it can also be exploited. Stablecoin issuers, operating within traditional financial systems and regulations, are often compelled to cooperate with authorities to combat financial crime. Understanding the Impact of USDT Freezing The ability of Tether to perform a USDT freezing operation has significant implications for users and the broader crypto ecosystem. Here are some key points: Centralization Risk: Despite operating on decentralized blockchains like Tron and Ethereum, Tether itself is a centralized entity. This means it retains control over the issued tokens, unlike truly decentralized cryptocurrencies like Bitcoin. Regulatory Compliance: These freezes demonstrate Tether’s commitment (or obligation) to comply with global financial regulations and law enforcement demands. User Awareness: For users holding large amounts of USDT, especially on networks like the Tron blockchain known for fast and cheap transactions, this serves as a reminder that their funds are not entirely immune to external control. Impact on Networks: While the freeze occurs at the token level, not the network level, it affects activity on the specific addresses on both the Ethereum blockchain and Tron where the funds were held. This power to freeze assets is a double-edged sword. On one hand, it’s a tool to combat illicit finance and potentially make stablecoins more palatable to regulators. On the other hand, it introduces a point of censorship and control that goes against the core principles of decentralization often championed in the crypto space. How Does This Crypto Freeze Compare to Past Incidents? This isn’t the first time Tether has frozen USDT. Over the years, Tether has frozen hundreds of millions of dollars in USDT across various blockchains, including Ethereum, Tron, and Omni. Each instance typically involves addresses flagged by law enforcement or internal security protocols as being associated with suspicious activity. The amount frozen this time, over $28.7 million, is substantial and adds to the growing total of USDT under restriction. The fact that a large portion is on the Tron blockchain is notable, given Tron’s popularity for USDT transfers. What Does This Mean for USDT Users? For the average user holding USDT for trading or everyday transactions, a freeze like this is unlikely to directly impact them unless their specific address is linked to illegal activities. However, it’s a crucial reminder to understand the nature of the assets you hold. Actionable Insight: If you prioritize absolute censorship resistance, you might consider holding truly decentralized cryptocurrencies. If you use stablecoins like USDT, be aware that they operate under a different model where the issuer retains certain controls for compliance purposes. Conclusion: The Balancing Act of Centralized Stablecoins The recent crypto freeze by Tether on the Tron and Ethereum blockchains underscores the inherent tension in centralized stablecoins. They offer stability and ease of use, bridging the gap between traditional finance and the crypto world, but they do so by maintaining a level of control that decentralized assets eschew. The $28.7 million frozen is a significant sum, illustrating the scale at which Tether exercises its ability to comply with external demands, primarily from law enforcement investigating illicit use of funds on networks like the Tron blockchain and Ethereum blockchain . While necessary for combating financial crime and potentially aiding mainstream adoption by appeasing regulators, this control is a stark reminder that not all crypto assets are created equal in terms of decentralization and censorship resistance. Users must weigh these factors based on their own needs and risk tolerance. To learn more about the latest crypto market trends, explore our article on key developments shaping Tether USDT institutional adoption.
Exciting news is buzzing in the crypto world! A significant investment is set to pour into the burgeoning Solana ecosystem , specifically targeting early-stage projects. Crypto venture capital firm RockawayX has announced a substantial $125 million fund dedicated to supporting Solana startups . This move highlights the continued confidence institutional investors have in the potential of the Solana blockchain and its potential for innovation. Understanding the RockawayX Fund’s Focus The newly announced $125 million fund from RockawayX is specifically earmarked for early-stage companies building on the Solana network. This isn’t RockawayX’s first foray into the Solana space; the Prague-based firm was an early backer of Solana itself back in 2018. With around $2 billion in assets under management, RockawayX is a notable player in the digital asset investment landscape, and their targeted approach signals a strategic belief in Solana’s future. What does ‘early-stage’ typically mean in the venture capital world? It usually refers to companies that are past the initial idea phase but might still be developing their core product, finding product-market fit, and beginning to scale. Funding at this stage is crucial for: Hiring talent to build out the team. Developing and refining the technology. Marketing and user acquisition. Covering operational costs as they grow. For Solana startups , securing this kind of capital can be a game-changer, providing the runway needed to innovate and compete in a fast-moving industry. Why the Solana Ecosystem? RockawayX’s decision to focus a dedicated fund on Solana isn’t arbitrary. The Solana ecosystem has grown rapidly, positioning itself as a key competitor in the layer-1 blockchain space. Several factors likely contribute to its appeal for venture capitalists: Key Features of Solana: Feature Benefit for Startups High Transaction Throughput Enables scalable applications with many users. Low Transaction Costs Makes applications more affordable for users. Fast Block Finality Quicker confirmation of transactions. Growing Developer Community Access to talent and resources. Diverse dApp Landscape Opportunities in DeFi, NFTs, Gaming, DePIN, etc. While Solana has faced technical challenges in the past, its resilience and continued development, coupled with a vibrant community, make it an attractive platform for building next-generation decentralized applications. Investors like RockawayX are betting on the ecosystem’s ability to overcome hurdles and deliver on its promise of a scalable, high-performance blockchain. The Broader Impact of Crypto Funding and Web3 Venture Capital This $125 million fund is more than just a cash injection for a few companies; it’s a signal about the health and future direction of web3 funding . Despite market volatility, significant capital is still being deployed into promising blockchain technologies and applications. Venture capital plays a critical role in the crypto space, much like it does in traditional tech: Fueling Innovation: Provides the necessary resources for ambitious projects to get off the ground. Validating the Market: Large funds signal institutional confidence, attracting more talent and capital. Driving Adoption: Funded projects can build better products, leading to increased user adoption of web3 technologies. Building Infrastructure: Supports the development of tools and services needed for the ecosystem to thrive. For crypto venture capital firms like RockawayX, identifying and nurturing early-stage winners is key to generating returns. Their focus on a specific ecosystem like Solana allows them to develop deep expertise and networks within that community, potentially giving them an edge in finding the most promising opportunities. RockawayX’s History and What it Means for Solana RockawayX isn’t new to the Solana story. Their investment in Solana back in 2018 shows foresight and a long-term perspective on the technology’s potential. This history means they likely have a deep understanding of the network’s strengths, weaknesses, and the key players involved. This established relationship can be a significant advantage for the startups they back, offering not just capital but potentially strategic guidance and network connections within the Solana ecosystem . Their $2 billion AUM also suggests they have the capacity for significant follow-on investments if their portfolio companies perform well. This provides a potential pathway for startups to secure further funding rounds as they grow, offering a level of stability and future potential that smaller funds might not provide. Opportunities and Challenges for Solana Startups While the RockawayX fund presents a fantastic opportunity, Solana startups receiving funding will still face significant challenges. The web3 space is highly competitive, and building a successful product requires more than just capital. Key considerations include: Execution Risk: Can the team build the product and attract users? Market Volatility: Crypto markets are notoriously volatile, which can impact user sentiment and business models. Regulatory Uncertainty: The regulatory landscape for crypto and web3 is still evolving globally. Competition: Many projects are vying for attention and users within the Solana ecosystem and the broader web3 space. However, with strategic investment from experienced firms like RockawayX, startups gain crucial support to navigate these complexities. The benefits of the funding extend beyond just money; access to expertise, networks, and validation can significantly increase a startup’s chances of success. A Compelling Future for Solana? The RockawayX $125 million fund is a strong vote of confidence in the future of the Solana network and the innovators building on it. It signals that despite market cycles, serious capital is committed to developing the infrastructure and applications that will define the next era of the internet. For developers and entrepreneurs, this means increased opportunities to secure the funding needed to turn their visions into reality within the vibrant Solana ecosystem . This investment could catalyze further development, attracting more talent and projects to Solana, potentially leading to a positive feedback loop of growth and innovation. Keep an eye on the projects emerging from this fund – they might just be the ones shaping the future of decentralized technology. To learn more about the latest Solana ecosystem trends, explore our articles on key developments shaping Solana innovation .
In a move signaling growing corporate confidence in digital assets, publicly traded HK Asia Holdings Limited has announced plans to significantly expand its Bitcoin holdings . The company intends to raise HK$65,498,320, which translates to approximately $8.4 million USD, specifically earmarked for increasing its stake in the leading cryptocurrency, Bitcoin (BTC). This development, reported by Solid Intel on X, places HK Asia Holdings among a growing list of traditional companies exploring or actively engaging in corporate Bitcoin strategies. It highlights a broader trend where firms are looking beyond traditional assets for treasury management and potential growth opportunities. Why Are Companies Pursuing Corporate Bitcoin Strategies? The decision by a publicly traded entity like HK Asia Holdings to allocate capital towards BTC investment isn’t made lightly. It reflects a strategic evaluation of the current financial landscape and the potential role of digital assets within it. Several factors typically drive companies to consider adding Bitcoin to their balance sheets: Inflation Hedge: With global economic uncertainties and inflationary pressures, Bitcoin is increasingly viewed by some as a potential hedge against the devaluation of fiat currencies due to its perceived scarcity (capped supply of 21 million BTC). Store of Value: Proponents argue that Bitcoin serves as a digital store of value, akin to digital gold, capable of preserving purchasing power over the long term. Potential Appreciation: Despite its volatility, Bitcoin has shown significant long-term growth potential, attracting companies seeking to grow their treasury reserves beyond minimal interest rates offered by traditional instruments. Diversification: Adding a non-correlated asset like Bitcoin can potentially help diversify a corporate treasury portfolio, reducing overall risk (though introducing crypto-specific risks). Market Signal: For some companies, holding Bitcoin can also be a signal to investors and customers, demonstrating forward-thinking and an understanding of emerging technologies. What Does This Institutional Investment Mean for HK Asia Holdings? The planned raise of over HK$65 million specifically for increasing Bitcoin holdings indicates a deliberate strategic pivot or reinforcement of an existing digital asset strategy by HK Asia Holdings . The exact method of fundraising (e.g., equity issuance, debt) wasn’t detailed in the initial report, but the clear allocation of funds towards BTC is the key takeaway. For HK Asia Holdings , this move could: Position the company to potentially benefit from future increases in Bitcoin’s price. Align the company with the growing digital economy trend. Potentially attract investors interested in companies with exposure to digital assets. However, it also introduces the company to the inherent volatility of the cryptocurrency market, which could impact its balance sheet and earnings reporting. Is This Part of a Larger Institutional Investment Trend? Absolutely. While HK Asia Holdings ‘ specific move is notable, it occurs within a broader context of increasing institutional investment interest in Bitcoin and other digital assets. Companies like MicroStrategy have famously adopted significant Bitcoin treasury strategies, holding substantial amounts of BTC on their balance sheets. Other examples of corporate or institutional engagement include: Investment firms launching Bitcoin funds or ETFs. Payment processors integrating crypto services. Technology companies exploring blockchain applications. The move by a Hong Kong-based publicly traded company also resonates with the region’s evolving stance on digital assets, which has seen efforts to position itself as a crypto hub. What Are the Potential Benefits and Challenges of Expanding Bitcoin Holdings? Expanding Bitcoin holdings offers potential rewards but also significant risks that companies must carefully navigate. Potential Benefits: Exposure to a potentially high-growth asset class. Potential hedge against inflation and currency devaluation. Enhanced treasury yield compared to traditional low-interest options. Increased visibility and market interest from crypto-aware investors. Potential Challenges: Volatility: Bitcoin’s price can experience rapid and significant swings, impacting the balance sheet value. Regulatory Uncertainty: The regulatory landscape for cryptocurrencies is still evolving globally and locally. Accounting Treatment: Accounting for cryptocurrency holdings can be complex (often treated as intangible assets subject to impairment). Security Risks: Holding significant amounts of crypto requires robust security measures to prevent theft or loss. Public Perception: While growing, corporate crypto adoption can still be viewed with skepticism by some stakeholders. Companies like HK Asia Holdings must weigh these factors carefully as they implement their corporate Bitcoin strategy. What Does This Mean for the Future of Corporate Treasury Management? The action taken by HK Asia Holdings , alongside other similar moves globally, suggests a potential shift in how companies think about treasury management. While traditional approaches focused primarily on capital preservation and liquidity through low-risk, low-yield assets, a growing number are exploring alternatives that offer potential for higher returns, albeit with increased risk. The integration of Bitcoin holdings into a corporate treasury framework requires: A clear investment thesis and risk tolerance. Robust security protocols for asset custody. Expertise in navigating the crypto market and its infrastructure. Transparent communication with shareholders about the strategy and its performance. This trend towards institutional investment in crypto assets is likely to continue as the digital asset class matures and becomes more accessible through regulated products and services. Conclusion: A Strategic Step in Corporate Digital Asset Adoption HK Asia Holdings’ plan to raise over HK$65 million to boost its Bitcoin holdings is a significant development, underscoring the increasing confidence among some publicly traded companies in Bitcoin as a strategic asset. This move aligns with a broader global trend of institutional investment exploring digital assets for diversification, potential growth, and as a hedge against economic uncertainties. While challenges related to volatility and regulation persist, the decision by HK Asia Holdings highlights the evolving landscape of corporate treasury management and the growing integration of cryptocurrencies into traditional finance. To learn more about the latest Bitcoin holdings trends and institutional investment in digital assets, explore our article on key developments shaping corporate Bitcoin strategies and the future of BTC investment .
Emily Nicolle examines how memecoins are being used to place bets on who will succeed Pope Francis.
Ethereum’s evolving layer-2 ecosystem presents a compelling narrative, emphasizing its unique scaling approach and potential impact on the crypto landscape. A recent analysis by Anurag Arjun, co-founder of Avail, underscores
In the rapidly evolving world of technology, where cryptocurrency and blockchain innovations often intersect with advancements in artificial intelligence, a critical question is emerging: what is the environmental cost? Specifically, how much electricity does your seemingly simple message to a chatbot actually consume? As interest in AI grows alongside digital assets, understanding the infrastructure and resources required becomes paramount. This is where a new, insightful tool steps in, shedding light on the often-hidden AI energy consumption behind your digital interactions. Estimating Your Chatbot Energy Ever paused to think about the power draw when you type a prompt into a large language model or receive a generated response? Hugging Face engineer Julien Delavande did, leading him to build a tool aimed at quantifying this. Running AI models requires significant computational power, relying on energy-intensive GPUs and specialized chips. While pinning down exact figures is complex, the widespread adoption and increasing sophistication of AI technologies are widely anticipated to escalate global electricity demands substantially in the coming years. This growing demand for power has even prompted some companies to explore environmentally controversial energy sources. Why Track Chatbot Energy? Tools like Delavande’s serve a vital purpose: raising awareness about the environmental implications of AI usage. By making consumption visible, they might encourage users and developers to consider efficiency. As Delavande and his collaborators highlighted, “Even small energy savings can scale up across millions of queries — model choice or output length can lead to major environmental impact.” This perspective is crucial as we integrate AI deeper into daily life and business operations, including those within the crypto space where efficiency is often a key focus. The conversation around chatbot energy consumption is gaining traction. Delavande shared a visual on social media, stating, “Ever wondered how much energy is used every time you send a message to ChatGPT? We just built a version of Chat UI that shows how much energy your message consumes — in real time. Should all chatbots display this?” This tweet sparked discussion about the potential for greater transparency directly within AI interfaces. How the Tool Works and What It Reveals The tool is designed to integrate with Chat UI, an open-source front-end compatible with various models like Meta’s Llama 3.3 70B and Google’s Gemma 3. It provides real-time estimates of the energy consumed by messages sent to and from a model, reporting figures in Watt-hours or Joules. To make these numbers relatable, the tool offers comparisons to common household appliance usage. For instance, according to the tool’s estimates, asking the Llama 3.3 70B model to draft a typical email uses approximately 0.1841 Watt-hours. To put this into perspective, this is roughly equivalent to running a microwave for just 0.12 seconds or using a toaster for a mere 0.02 seconds. While these specific instances seem minimal, the cumulative effect across billions of daily AI interactions highlights the scale of potential energy use. It’s important to remember these are estimates, not precise measurements, but they effectively illustrate the principle that every interaction has an energy cost. Addressing the AI Carbon Footprint The development of this tool is part of a larger movement towards addressing the environmental impact of artificial intelligence. The concept of an AI carbon footprint is becoming increasingly relevant as large language models and generative AI applications proliferate. The energy required for training massive models and running inferences at scale contributes significantly to carbon emissions, particularly if powered by fossil fuels. The creators emphasize the importance of transparency, especially within the open source AI community. By making energy usage visible, developers and users can make more informed decisions about model selection, efficiency optimization, and overall usage patterns. They envision a future where energy consumption data is as readily available for AI models as nutrition labels are for food products. Transparency in Open Source AI The initiative highlights a growing trend towards greater accountability and sustainability within the tech sector. For the open-source community, which thrives on collaboration and shared knowledge, developing tools like this energy estimator aligns with principles of transparency and collective responsibility. Promoting awareness about open source AI ‘s energy requirements encourages the development of more efficient models and infrastructure. While the estimates provided by the tool are not claimed to be perfectly precise, they serve as a powerful reminder that computational processes, including those powering our favorite chatbots, are not without their environmental cost. As AI continues its rapid advancement and integration into various aspects of life, including potentially influencing cryptocurrency markets and applications, understanding and mitigating its energy footprint will be crucial for sustainable technological progress. To learn more about the latest AI market trends, explore our article on key developments shaping AI features.
Ethereum's focus on scaling through many layer-2 networks, each with its own transaction processing speed and parameters, potentially gives the network an unlimited number of unique high-throughput chains, according to Anurag Arjun, co-founder of Avail, a unified chain abstraction solution. In an interview with Cointelegraph, Arjun acknowledged that Ethereum and high-throughput competitors with monolithic architecture are fundamentally different products. However, Ethereum's choice to scale through a plethora of L2 solutions gives it an overlooked quality: "The under-appreciated beauty of this rollup-centric roadmap architecture is that it allows multiple teams to experiment with different execution environments and different block times." This allows a diverse set of high-throughput sidechains to appear rather than just one singular architecture on any monolithic layer-1s, the executive added. However, without true interoperability, switching between L2s will remain as complex as bridging assets between different blockchain ecosystems altogether, Arjun warned. An overview of Ethereum’s layer-2 ecosystem. Source: L2Beat The Avail co-founder's perspective runs contrary to the many critics of Ethereum's L2-focused approach, who say that the network's scaling solutions silo liquidity and are ultimately corrosive to the base layer. Ethereum's critics argue that L2s are one of the primary causes of Ether's ( ETH ) poor price performance in the last year. Related: Vitalik Buterin proposes swapping EVM language for RISC-V Ethereum fees drop to five-year lows Fees on the Ethereum layer-1 network dropped to five-year lows in April 2025, with the average transaction fee sitting at around $0.16. According to Brian Quinlivan, the marketing director for the Santiment onchain analytics firm, the reduction in fees signals decreased demand for the base layer and waning investor interest in Ethereum. Ethereum network daily transaction fees dropped significantly in Q1 2025. Source: Token Terminal "This large reduction in fees coincides with fewer people sending ETH and interacting with smart contracts," Quinlivan wrote in an April 16 blog post. These smart contract interactions include transactions across decentralized finance, digital collectibles like non-fungible tokens (NFTs), and other digital asset sectors, the Santiment executive added. Ether's declining base layer transaction fees and reduced retail interest also caused many institutional investors to slash their Ether allocations and issue revised price outlooks for the second-largest digital asset by market capitalization. Magazine: Make Ethereum feel like Ethereum again: Based rollups explained
Japanese investment firm Metaplanet has reached a major milestone in its Bitcoin accumulation strategy, hitting the halfway mark in its goal to hold 10,000 coins by the end of 2025. Metaplanet Crosses 5K Mark After Latest Buy The Tokyo-listed firm now holds 5,000 BTC, worth approximately $460 million at current market prices. “We have reached 50% of our initial goal of 10,000 BTC by the end of 2025,” Metaplanet CEO Simon Gerovich posted on the X platform. “This is a big step forward in our aim to become one of the world’s leading bitcoin holding companies. We will lead the global bitcoin race from Japan.” Metaplanet announced on April 24 that it had acquired an additional 145 BTC for roughly $13.6 million, at an average price of $93,327 per coin. The company’s Bitcoin Yield, its key indicator for assessing the performance of its Bitcoin acquisition concept, surpassed 121.1% year-to-date following its latest investment. This move is part of Metaplanet’s broader strategy for Bitcoin treasury operations, launched in 2024, which aims to use digital assets to enhance shareholder value. Metaplanet’s 5,000 BTC stash, purchased for a total cost of $428 million, makes it Asia’s largest and the world’s 10th-largest corporate Bitcoin holder, Bitcoin Treasuries data shows. Beyond the investment firm’s goal of accumulating 10,000 BTC this year, it aims to reach 21,000 BTC by the end of 2026. Metaplanet’s aggressive shopping spree has been fueled by a $745 million capital raise dubbed “Asia’s largest-ever,” designed around zero-discount moving strike warrants. The company’s “21 Million Plan” aims to give Metaplanet the flexibility to acquire BTC in tranches, allowing the company to optimize entry points and avoid unnecessary dilution. More Companies Imitating Strategy’s Bitcoin Hoarding Plan Michael Saylor and Strategy — formerly known as MicroStrategy — popularized the corporate Bitcoin treasury strategy now adopted by an increasing list of companies, including Metaplanet, MARA , and Semler Scientific . Most recently, it was revealed that Wall Street’s Cantor Fitzgerald had partnered with SoftBank, Bitfinex, and Tether to create a $3 billion crypto acquisition company, 21 Capital. With 21 Capital, the consortium can capitalize on the market under crypto-friendly US President Donald Trump, and mirror Saylor’s Strategy, which currently holds a staggering 538,200 BTC hoard. Cantor’s new venture is set to start operations with over 42,000 BTC. With Bitcoin trading at around $92,347 at publication time, that amount would be valued at around $3.8 billion.