Arizona will not be using public funds to invest in Bitcoin and other cryptocurrencies — at least not during the tenure of Governor Katie Hobbs (D). Arizona has now lost ground in what’s been a race among U.S. states to see which may become the first to establish a crypto reserve as a formal part of their fiscal strategy. Arizona Governor Nixes Bitcoin Reserve Bill The Arizona Strategic Bitcoin Reserve Act, which would have allowed the state to invest up to 10% of public money in digital assets like Bitcoin, was formally rejected on Friday. “Today, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments,” Hobbs said in an official statement to Warren Petersen, the President of the Arizona Senate. Had the legislation become law, Arizona would have been the first state in the United States to require public funds to invest in Bitcoin, even outpacing the Treasury Department’s push to get it done, which is still faiting for a full accounting of the nation’s stash before federal officials can move to create the reserve that President Donald Trump has called for. In her veto message, Hobbs explained that Arizona’s retirement system is robust because it sticks to proven investment products. She believes it’s unacceptable to expose the state’s retirement funds to untested investments like digital currencies. While the veto marks a setback for crypto proponents, it’s not unexpected given the governor recent took a recent stand to veto any legislation until a separate funding matter on constituents with disabilities was resolved. Notably, Arizona joins other US states where similar initiatives have failed to advance , including Oklahoma, Montana, South Dakota, and Wyoming. Conversely, North Carolina’s House passed the Digital Assets Investment Act on April 30, authorizing the state treasurer to invest up to 5% of certain funds in approved cryptocurrencies. The legislation was moved to the state Senate for further debate.
Venture capital investment in the crypto industry soared to $4.9 billion in the first quarter of 2025, marking the sector’s most active fundraising period since late 2022, according to a May 1 report from Galaxy. The surge represents a 40% increase from the previous quarter, with 446 deals closed — a 7% uptick in deal volume, according to a May 1 report by Galaxy. While the topline figure signals renewed investor confidence in digital assets, a single transaction played an outsized role: MGX’s $2 billion investment into Binance accounted for over 40% of all capital raised during the quarter. Binance Transaction Reshapes Funding Landscape Without that deal, total funding would have been $2.8 billion, revealing a 20% decline compared to Q4 2024. Nevertheless, the Binance transaction reshaped the funding landscape. It propelled the Trading, Exchange, Lending, and Investing category to the top of the sector rankings, with $2.55 billion in total raised — a 47.9% jump. Excluding Binance, DeFi would have led the quarter with $763 million in funding. Web3 startups dominated in deal count, representing the most active category with 73 deals, or 16% of the total. These included gaming platforms, NFTs, DAOs, and metaverse ventures. Trading-related firms followed with 62 deals. For the first time since early 2021, the majority of capital flowed into later-stage companies, with 65% of total funding going to Series A rounds and beyond. Top 5 Crypto Fundraising Rounds this week @campnetworkxyz – $25M at a $400M valuation > Purpose-built L1 blockchain for powering AI agents trained on user-owned IP > @1kxnetwork , @blockchaincap , & @OKX_Ventures @0xMiden – $25M > ZK-enabled L1 spun out from @0xPolygon , which… pic.twitter.com/BTCW0VMA2N — Jake (@immutablejacob) May 2, 2025 Pre-seed and early-stage activity remained strong but showed a slight decline, reflecting a more cautious but focused investment approach. Startups based in the United States captured 38.6% of the total deals, reinforcing the country’s lead in the global crypto market. The United Kingdom (8.6%), Singapore (6.4%), and the United Arab Emirates (4.4%) followed. Galaxy’s report also pointed to a renewed correlation between Bitcoin’s price and venture funding trends — a pattern that had weakened in recent years but now appears to be strengthening on a multi-year timeline. Crypto Fundraising Remains Challenging Still, fundraising remains challenging. Galaxy noted persistent headwinds from the 2022–2023 downturn and a shift in investor interest toward artificial intelligence. The AI sector now commands the kind of attention and capital flows that crypto did during its last bull cycle. As a result, crypto-focused venture funds raised just $1.9 billion in Q1 2025. Despite these hurdles, Galaxy expects 2025 to outperform the previous year in total capital raised. As reported, Kaito AI has ranked Paradigm as the top-performing crypto VC firm over the past 12 months, posting an 11.80% performance metric. The firm leads ahead of Alliance (10.64%), Dragonfly (8.32%), a16z (6.94%), and Multicoin Capital (5.86%), which round out the top five. Dragonfly, which ranks third, has invested in major projects like Avalanche (AVAX) and NEAR Protocol (NEAR), both of which have gained strong traction in the crypto space. Meanwhile, Alliance, a crypto accelerator for early-stage Web3 startups, has made notable investments in Story Protocol (IP), Manta Network, and Pump.fun, a Solana-based meme coin launchpad. Andreessen Horowitz (a16z) secured the fourth spot , with investments in Coinbase, Uniswap, Celo (CELO), Compound, and Dapper Labs, the company behind CryptoKitties. The post Crypto Venture Funding Surges to $4.9B in Q1 2025, Highest Since 2022 appeared first on Cryptonews .
Vitalik Buterin has called on the Ethereum community to simplify the network’s design by adopting a Bitcoin-style approach. Buterin believes Ethereum’s current complexity raises costs, centralizes control, and creates barriers
Crypto pundit All Things XRP (@XRP_investing) has raised questions about Eric Trump’s consistent public praise for Bitcoin and Ethereum while remaining silent on XRP. Despite XRP’s numerous advantages over its competitors and growing adoption, neither Eric Trump nor his family-backed venture, World Liberty Finance, has acknowledged it in any capacity. All Things XRP drew attention to Eric Trump’s comments from early 2025, where he publicly praised Ethereum, saying it was a great time to buy the asset, and sharing his optimism during a time when the broader market showed signs of strength. Days later, he also voiced bullish views on Bitcoin. However, despite XRP’s established utility and relevance in the digital asset ecosystem, no similar comments have ever been made. World Liberty Finance’s Portfolio Leaves XRP Behind World Liberty Finance has followed Eric Trump’s lead. The project’s portfolio includes Ethereum, Bitcoin, and stablecoins. According to All Things XRP, the company invested approximately $48 million in Ethereum this year alone. XRP, on the other hand, is excluded . We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 This has drawn attention given that the digital asset was once included in early discussions about forming a U.S. crypto reserve under the Trump administration, and mentioned specifically by the president when he made the announcement . Eventually, only Bitcoin remained in that plan, leaving XRP out without explanation. Reasons Why the Trumps are Ignoring XRP One factor that may explain the distance from XRP is its complicated legal history. All Things XRP pointed to the prolonged legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Although the SEC has agreed to withdraw its appeal , the XRP community waits for the official announcement. This has created panic and uncertainty among market participants. Another explanation offered by the pundit is the strategic focus of World Liberty Finance. The project appears to be centered around Decentralized Finance (DeFi). Ethereum and Bitcoin are notable players in this space, but XRP’s primary use case revolves around cross-border payments, which do not align with DeFi objectives. This divergence might explain why Trump’s crypto venture has not adopted the digital asset. Optics and Timing Could Be Key The Trump brand has a reputation for aligning itself with dominant narratives and avoiding controversy. Engaging with XRP could invite criticism or unwanted political attention, especially in a campaign environment. Additionally, All Things XRP suggested that the silence may not be a dismissal, but a calculated delay. If regulatory clarity around the digital asset strengthens further, World Liberty Finance might revisit its stance. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Pundit Explains Why Eric Trump Is Silent On XRP, But Extols Bitcoin and Ethereum appeared first on Times Tabloid .
The U.S. Department of the Treasury this past week released a new report exploring the rapid growth of stablecoins and their potential impact on traditional banking. Titled “Digital Money,” the April 30 report noted that the stablecoin sector currently boasts a total market capitalization of around $240 billion — a 2% increase in April alone — with projections suggesting it could surge to $2 trillion by 2028. The report addresses the effects of yield-bearing stablecoins in particular, and how they could impact traditional U.S. financial institutions, from the perspective of Treasury demand and U.S. dollar hegemony. The report also considers the impact of tokenized money market funds (MMFs). To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
A Wells Fargo customer says he’s fighting for reimbursement after someone drained $310,000 from his account. The customer, whose first name is Steve, says his wife sent a $310,000 check to the IRS in January of last year, reports Fortune. The couple thought nothing of the business-related payment, which they had sent through a secure mailbox at a Seattle-based post office. Eleven-months later, Steve says his accountant told him the check was never received. Steve obtained a copy of the check, and says it had been chemically washed to replace “IRS” with someone he’s never heard of – Ezavier Josiah Staples. Wells Fargo then rejected his claim for reimbursement, stating he had taken too long to report the fraud. The bank says the money was deposited into an account at JPMorgan Chase, and it’s trying to recoup the cash. Steve says he’s stunned at the outcome. “I’m just shocked that [banks] don’t have insurance for this kind of thing, or with all the fraud stuff they’re doing, that they don’t care about protecting the consumer.” It’s just a principle of the thing for me. I just can’t believe that in this day and age, someone could steal $310,000 and both Chase and Wells Fargo just say, ‘Tough luck.’ They have no checks and balances, or nothing in place to protect us.” A spokesperson at Chase says the bank is looking into the matter and has not received a claim from Wells Fargo at time of publishing. 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 $310,000 Drained From Wells Fargo Account – Bank Says Reimbursement Not Happening, Claims Funds at JPMorgan Chase appeared first on The Daily Hodl .
Solana is still facing a lot of resistance and it seems that the $200 target is getting harder to reach. This has been made harder by the bearish market winds, as well as declining participation from investors in online activities. As such, the Solana price is still struggling to stay above $150. However, given that there is starting to be a turn in the market sentiment toward the positive, the Solana price could be headed for a quick rebound. This is echoed by crypto analysts who have predicted that the altcoin still has room to run and one in particular suggests that new all-time highs are even possible. Why The Solana Price Is Turning Bullish Crypto analyst TradingShot has explained why the Solana price has been turning bullish recently. In a recent analysis, they explain that the rebound at the beginning of April has shown strength in the digital asset. This came as Solana bounced off the 1-Week MA200 at the start of last month, and this bullish start carried on to the end of the month. Related Reading: Last Chance For Polygon As Crypto Analyst Predicts MATIC Price Will Surge Above $1 Again With the momentum built up, the altcoin saw multiple weekly closes, and eventually closed out the month of April with another green weekly candle. This has set it on a path toward the next critical level, which lies at the 1-Week MA50 and follows the blue trend line at around $170, as shown in the chart below. This level is now the major point to break if Solana is to continue its bullish run in the month of May. The interesting thing about this level, as the crypto analyst explains, is that if the SOL price is able to surmount it, then it is expected to turn into support for the altcoin. Support at $170 would be quite bullish for the Solana price, serving as a possible bounce off point toward $200 once again. Targets From Here As stated above, the first thing is for the Solana price to actually test and break the blue trend line at $170. If this is successful and the bottom is in, then the next big target from here is the $350 level. The crypto analyst explains that this $350 target is the higher high of the wedge. Related Reading: XRP Price To Break Out Of Consolidation: The Next Moonshot That Will Lead To $3 Next, a clean break above $350 sets it on a clear path toward $900 as it sets higher highs. “Given that the recent 3-month correction was -67.23%, identical to the last correction (May 2021) of the previous Cycle, we expect one final rally to the 2.0 Fibonacci extension at $900, if the Higher Highs trend-line breaks,” TradingShot said. Featured image from Dall.E, chart from TradingView.com
President Donald Trump and his family are generating billions from cryptocurrency, according to a new report from State Democracy Defenders Action. The nonprofit organization, which claims to be “fighting autocracy,” estimates that nearly 40% of Trump’s net worth now comes from digital assets, totaling around $2.9 billion. That crypto windfall stems from Trump’s personal memecoins, Official Trump ( TRUMP ) and Melania ( MELANIA ), and a sizable stake in World Liberty Financial (WLFI), a Trump-affiliated crypto exchange launched in 2024. You might also like: TRUMP coin soars 73% on dinner hype — but July’s unlocks could tell a very different story While the group behind the study describes itself as nonpartisan, it’s led by longtime critics of the president. Still, the numbers are eye-popping. Trump’s crypto portfolio could soon swell even more. World Liberty Financial announced this week that MGX, a firm backed by Abu Dhabi, plans to invest $2 billion into the Trump-linked exchange by purchasing its new stablecoin, USD1. At Token2049 on May 1, World Liberty Financial co-founder Zach Witkoff confirmed that USD1 has been selected as the official stablecoin for MGX’s investment into Binance. Proximity to Trump matters World Liberty’s website reveals just how close the Trumps are to the operation: a family-affiliated entity owns a 60% stake and holds 22.5 billion $WLF tokens. But it’s not solely a family matter. Trump’s White House Crypto Czar, David Sacks, is poised to profit from the USD1 stablecoin’s custodial deal with BitGo — a company in which he still holds a stake. Sacks, per the State Democracy Defenders Action, was allowed to keep his BitGo ownership thanks to a March 5 conflict-of-interest waiver from the White House Counsel. He’s not alone: Trump’s Middle East Envoy, Steven Witkoff, is also listed as a co-founder of WLFI, alongside the president’s two sons, though the details of their financial involvement remain unclear. Also in the mix is Justin Sun, one of the top entrepreneurs in the crypto sector, who first purchased $30 million in $WLFI just weeks after Trump won the 2024 presidential election. That purchase allowed a Trump-affiliated holding company called DT Marks DEFI LLC to receive “75% of the net protocol revenues. ” It’s unclear how much of the MGX deal will benefit Trump, though “a lot” feels like a safe bet. As Trump’s crypto empire expands, so does concern over conflicts of interest. His administration has gradually loosened oversight of the digital asset industry — raising questions about whether crypto cronyism is running rampant. So far, the Trump administration’s U.S. Securities and Exchange Commission has dropped numerous lawsuits and investigations against crypto and blockchain companies, including Dragonchain , Coinbase , Gemini , Uniswa and Ripple . Or to put it another way: the president’s crypto strategy might be less about decentralization and more about consolidation — of wealth, influence, and dinner invitations to Mar-a-Lago. Read more: Freight train to Mar-a-Lago? Logistics firm earmarks $20m for Trump memecoin
KuCoin aims to re-enter South Korea after being blocked for non-compliance. CEO BC Wong prioritizes global regulatory compliance before reentry. A $2B Trust Project will focus on transparency, compliance, and user protection. Global crypto exchange KuCoin signaled its intention to re-enter the South Korean market following a recent regulatory block of its platform there. Announced at the TOKEN2049 event in Dubai on April 30th, the exchange is shifting focus towards regulatory compliance in major global jurisdictions and simultaneously launching a $2 billion “ Trust Project ” aimed at improving platform transparency and security. South Korea Regulatory Block On March 21, South Korea’s Financial Services Commission (FSC) directed Google Play and Apple’s App Store to block crypto exchanges operating without proper registration. Apple complied with the directive regarding KuCoin on April 11th, making the platform unavailable to South Korean users via the App Store. Google Play also reportedly took a similar action. Related: KuCoin CEO BC Wong Joins Industry Leaders at TOKEN2049 – Highlights Path Toward a Safer, Smarter Crypto Future Despite the r… The post KuCoin Eyes Return to South Korea, Launches $2B Trust Initiative appeared first on Coin Edition .