In the US state of Arizona, a bill that would have a portion of public assets invested in Bitcoin was vetoed by Governor Katie Hobbs. The regulation, known as “Senate Bill 1025” (SB 1025), was passed by the state assembly with a vote of 31 to 25, but was blocked by the governor. The bill aimed to create a digital asset reserve by investing the seized funds in Bitcoin and to manage this reserve by the state. However, Governor Hobbs stated that cryptocurrencies are in the category of “untested investments” and that these assets should not find a place in public resources. Related News: Ripple's Chief Legal Officer Explains Why the SEC Withdrew Its Appeal in the Case “The Arizona State Retirement System is one of the strongest in the nation because it makes sound, informed investments. Arizonans’ retirement funds cannot be tested with untested investments like virtual money,” Hobbs said in a statement. The veto ended Arizona’s attempt to become the first state in the U.S. to establish a cryptocurrency reserve. If the bill were to go through, it would have been possible for the state to surpass even the U.S. Treasury Department and set a precedent. *This is not investment advice. Continue Reading: Bad News for Bitcoin (BTC) from Arizona: It Would Have Been a First in History
Tokenization of real-world assets (RWAs) is evolving from an abstract concept to a practical financial tool as institutional players increasingly test and deploy blockchain-based infrastructure at scale. This past week alone saw a flurry of announcements from both traditional financial institutions and blockchain-native firms advancing their RWA initiatives. On April 30, BlackRock filed to create a digital ledger technology shares class for its $150 billion Treasury Trust fund. It will leverage blockchain technology to maintain a mirror record of share ownership for investors. The DLT shares will track BlackRock’s BLF Treasury Trust Fund (TTTXX), which may only be purchased from BlackRock Advisors and The Bank of New York Mellon (BNY). On the same day, Libre announced plans to tokenize $500 million in Telegram debt through its new Telegram Bond Fund (TBF). The fund will be available to accredited investors and usable as collateral for onchain borrowing. The week’s biggest headline came from Dubai, where MultiBank Group signed a $3 billion RWA tokenization deal with United Arab Emirates-based real estate firm MAG and blockchain infrastructure provider Mavryk. The deal is touted as the largest RWA tokenization initiative to date. Source: MultiBank “The recent surge isn’t arbitrary. It’s happening because everything’s lining up,” Eric Piscini, CEO of Hashgraph, told Cointelegraph: “Rules are getting clearer in major markets. The tech is stronger, faster, and ready to scale. And big players are actually doing it — BlackRock is tokenizing funds, Citi is exploring digital asset custody, and Franklin Templeton has tokenized money market funds on public blockchains.” Related: Real-world asset tokenization: Unlocking a new era of finance Tokenization has moved beyond theory Marcin Kazmierczak, co-founder of RedStone, said the recent announcements “demonstrate that tokenization has moved beyond theoretical discussions into practical application by market leaders.” He added that the growing adoption by big institutions gives the space more credibility, making others feel more confident to join in and help boost new ideas and investments. Kazmierczak stated that the renewed interest in RWA tokenization is primarily driven by US President Donald Trump’s pro-crypto administration and growing regulatory clarity. Trump, who has pledged to “make the US the crypto capital of the world,” has taken a different approach to crypto compared to the Biden administration. That era saw an aggressive crackdown from the US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ), prompting many firms to withdraw from US operations. However, the narrative appears to be shifting. Since Trump’s election victory, the SEC has dropped or paused over a dozen enforcement cases against crypto companies. Additionally, the DOJ recently announced the dissolution of its cryptocurrency enforcement unit , signaling a softer approach to the sector. Source: ALX Aside from regulatory clarity, advancements in technological capabilities, especially in wallets, have also played a key role in driving tokenization adoption, Felipe D’Onofrio, chief technology officer at Brickken, said. “In parallel, macroeconomic pressures are pushing institutions to search for efficiency and liquidity in traditionally illiquid markets,” he added. Related: New era in mining: How tokenization can transform the salt industry Ethereum remains main hub for tokenization Ethereum continues to serve as the primary hub for RWA tokenization , thanks to its mature ecosystem, broad developer support and robust infrastructure. “Ethereum remains by far the most suitable blockchain for large-scale RWA issuance due to its unparalleled security, developer ecosystem, and institutional adoption,” Kazmierczak said. However, he noted that dedicated RWA-specialized ecosystems like Canton Network, Plume, and Ondo Chain are building compelling alternatives with features designed explicitly for compliant asset tokenization. According to data from RWA.xyz, the market value of tokenized US Treasurys currently stands at $6.5 billion. Ethereum accounts for the lion’s share of the market, hosting over $4.9 billion in tokenized Treasurys. Source: RWA.xyz Herwig Koningson, CEO of Security Token Market, said companies like BlackRock have shown that it’s possible to build large-scale tokenized products, worth billions of dollars, using more than one blockchain at the same time. He said this shows that the success of tokenizing assets doesn’t depend so much on which blockchain is used, but rather on what the company needs the system to do. “This is why you will see many banks and traditional firms use permissioned blockchains or even private DLT systems,” Koningson said. Related: $21B tokenized RWA market doubtful, institutions uninterested — Plume CEO Challenges remain, but growth potential is huge Yet hurdles remain. Regulation continues to be a significant barrier, especially for risk-averse institutions requiring guarantees around compliance and privacy. Technical limitations also persist, chiefly the lack of interoperability between blockchain platforms, according to Piscini. However, he said hybrid models are gaining traction by offering the privacy of permissioned systems with optional future interoperability with public chains. Looking ahead, Piscini estimated that more than 10% of global financial assets could be tokenized by the end of the decade. D’Onofrio also made a modest projection, estimating that between 5% and 10% of global financial assets could be tokenized by 2030. On the other hand, RedStone’s Kazmierczak predicted that approximately 30% of the global financial system will be tokenized by the end of this decade. In terms of numbers, STM.co predicted that the world’s RWA market will be anywhere between $30 and $50 trillion by the end of 2030. Most firms predict that the RWA sector will reach a market size of between $4 trillion and $30 trillion by 2030. If the sector were to achieve the median prediction of about $10 trillion, it would represent more than 50 times the growth from its current value of around $185 billion, including the stablecoin market, according to a Tren Finance research report . Magazine: Tokenizing music royalties as NFTs could help the next Taylor Swift
Biggest meme coin on Ethereum extends losses despite rare bull pattern golden cross
On May 4th, data from TradingView revealed that Bitcoin Dominance (BTC.D) has surged to 64.85%, reflecting a consistent upward trajectory for the past nine weeks. This noteworthy increase indicates Bitcoin’s
Ripple CTO and XRP Ledger architect David Schwartz clears air on 10,000 XRP wallet glitch
Ripple’s potential acquisition of Circle signals a pivotal moment in the ever-evolving stablecoin landscape. As Ripple strengthens its foothold, the implications for the broader cryptocurrency market could be profound. According
As the second quarter of 2025 unfolds, investors are zeroing in on altcoins showing both technical strength and forward-looking fundamentals. Ethereum (ETH) , XRP , Solana (SOL) , and Arbitrum (ARB) are standing out with strong signals. But for those scouting early-stage potential, MAGACOINFINANCE is quickly becoming one of the cycle’s most talked-about names. MAGACOINFINANCE – Quietly Emerging as a Strategic Standout In contrast to headline-driven tokens, MAGACOINFINANCE is growing with intent. Its appeal stems from a focused brand, committed community, and structured rollout strategy. More than $7.8 million has already been raised, and investor sentiment continues to trend higher. What’s different here is the timing. With a capped supply, message-driven momentum, and real presence across Telegram and X, MAGACOINFINANCE offers rare early exposure ahead of broader listings. The 50% bonus (code: MAGA50X ) is still active, but not for long. Ethereum and XRP Remain Core Anchors for Long-Term Confidence Ethereum (ETH) is trading near $1,736 , buoyed by whale accumulation and increased utility in AI-driven ecosystems. Analysts point to a near-term move toward $2,700 , supported by rising transaction volume and renewed institutional interest. Its Layer-1 dominance remains undisputed as May’s momentum builds. XRP , currently around $2.15 , continues to attract attention thanks to the launch of ProShares’ XRP futures ETF. Technicals suggest a potential breakout past $2.45 , with institutional inflows expected to follow. Regulatory clarity and infrastructure adoption are reinforcing XRP’s leadership role. Solana and Arbitrum Offer Strong Technical Setups Solana (SOL) is trading in the $145–$150 range and riding a wave of renewed optimism after its Canadian ETF approval. With growing institutional interest and healthy on-chain activity, traders are watching for a breakout past $180 , which could trigger a path toward $220+ this quarter. Arbitrum (ARB) remains stable near $0.35 after recent volatility. While it exited Nvidia’s accelerator program, its Layer-2 credentials on Ethereum remain intact. If ETH rallies further, ARB could retest the upper $0.40s , especially with L2 scaling back in the spotlight. Final Thoughts With Ethereum , XRP , Solana , and Arbitrum delivering strong foundations and momentum, portfolios are being built with confidence. But it’s MAGACOINFINANCE that may provide the real asymmetric upside this cycle. As the broader market chases familiar names, early movers are positioning for what could be one of 2025’s biggest surprises. To learn more about MAGACOINFINANCE, please visit: Website: https://magacoinfinance.com Twitter/X: https://x.com/magacoinfinance Continue Reading: Want to 10x $2,440? Ethereum, XRP, Solana, and Arbitrum Could Be Strong Picks for 2025
Actor and crypto critic Ben McKenzie is targeting the crypto industry with a new “Everybody Is Lying to You for Money” documentary. According to reports, the actor will make his directorial debut at SXSW London when the documentary premieres in June. The documentary was written, directed, and produced by McKenzie, with input from Giorgio Angelini. It was also filmed over three years in locations across New York, London, El Salvador, Miami, and Austin. The documentary follows McKenzie, who is best known for his roles on “Gotham” and “The O.C.,” as he investigates the cryptocurrency industry and interviews key figures in the industry. Notably, he made a trip to El Salvador to examine the regime of President Nayib Bukele, which made Bitcoin legal tender in 2021. Ben McKenzie targets the industry with a new documentary The documentary features an interview with disgraced FTX founder Sam Bankman-Fried , with the filming done months before he was indicted on multiple charges of fraud and conspiracy. Sam Bankman-Fried was eventually sentenced to 25 years in prison in addition to three years of supervised release. The court also ordered him to pay about $11 billion in forfeitures for carrying out multiple fraudulent schemes. The documentary also featured Alex Mashinsky, the founder and former CEO of Celsius Network. Late last year, Mashinsky pleaded guilty to multi-billion-dollar fraud and market manipulation. He was accused of luring retail crypto investors into investing billions on his platform under false promises that their investments were low risk. The court said instead of keeping users’ funds safe, he put them in riskier bets, secretly using their funds to prop up the price of the CEL token. In addition to these personalities, the documentary highlights El Salvador’s President Nayib Bukele and his fondness for the crypto industry. Nayib Bukele has been a strong supporter of the industry, especially Bitcoin. Bukele has continued to purchase Bitcoin, although at a slowed pace due to what many believe are restrictions from the country’s arrangement with the IMF. In addition, the country has removed the mandatory clause on the acceptance of Bitcoin as legal tender. McKenzie highlights the ills of the crypto industry In his interview with Deadline , McKenzie mentioned how he got little attention after warning people in 2021. “When I started warning people about crypto fraud in the fall of 2021, I caught a bunch of flak from the bros online,” he said. He added that almost all the guys are now in jail, and many investors have lost a lot of money to these conmen. In his documentary, McKenzie featured other celebrities, a pseudonymous whistleblower, and several victims. The highlight of the documentary features McKenzie, who had been exploring the crypto industry in 2021, while the world was being torn from the effects of the coronavirus pandemic (COVID-19). Since then, he has been a vocal critic of the industry, even going as far as testifying before the United States Senate Banking Committee on the collapse of FTX. During his testimony, he calls crypto “the largest Ponzi scheme in history.” The documentary also features his home life, showing snapshots of the life he shares with his family and how boredom led him to research crypto. He had previously released a book in 2023 titled “Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud,” with journalist Ben Silverman. The book explored many of the themes that the documentary will touch on. “Why is the false story of crypto still spreading? That’s the question I set out to answer with this film,” McKenzie said. He also added that he is excited about the documentary, noting that “I cannot wait for audiences to see ‘Everyone Is Lying to You for Money,’ a comedy that treats crypto and the creeps shilling it with the respect they deserve: zero.” Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Ripple’s interest in Circle highlights its long-term strategy in the stablecoin market.
A public debate between cryptocurrency exchange OKX and TRON founder Justin Sun has surfaced over alleged communication issues regarding a freeze notice for stolen funds. OKX CEO Star Xu has challenged Sun’s claims that the exchange failed to respond to law enforcement requests. The controversy began after Sun publicly stated that a “relevant law enforcement agency” had sent a freeze notice regarding stolen funds to OKX’s official email address. However, the police had received no response. Sun claimed he had “no other means of contacting OKX’s compliance team.” You might also like: A look into XRP stability and cloud mining potential OKX CEO claps back at Justin Sun According to Star, the exchange’s LE cooperation team checked the email, including the spam box, and mentioned that they hadn’t received any requests related to this case. He explained via X: “Dear Mr H.E. Justin Sun, our LE cooperation team just checked the email including spam box, we haven’t received any request related with this case. Can you give us the screenshot to show when the enforcement agency send the request to us?” Dear Mr H.E. Justin Sun, our LE cooperation team just checked the email including spam box, we haven’t received any request related with this case. Can you give us the screenshot to show when the enforcement agency send the request to us? @justinsuntron https://t.co/QIPFUbOqbi pic.twitter.com/lkHZWvk6fm — Star (@star_okx) May 3, 2025 Star further clarified OKX’s procedures for law enforcement cooperation and directed Sun to the exchange’s public policy. “OKX has public LE cooperation policy. You can offer some preliminary evidence of the incident through the public reporting channels…we will do a temporary urgent freeze according to the evidence. Then you should work with LE agents to offer us legal documents to continue the freeze,” he added. The OKX CEO also resisted Sun’s public demands. He mentioned that OKX has a consumer protection policy according to law. He insists that they can’t freeze a customer’s funds according to Sun’s personal X post or oral communication. Sun deleted his original tweet, though other users had captured it in screenshots. The deleted post claimed that OKX was not responding to official freeze notices from law enforcement regarding stolen funds. Read more: NFT sales jump 22% to $107m, Pudgy Penguins recover