TokenInsight

Trump earned $57.35 million in 2024 through the crypto assets project World Liberty Financial, while serving as the project's "Chief Encryption Advocate." In addition, Truth Social applied for Bitcoin and Ethereum ETFs, and Strategy purchased an additional 10,100 Bitcoins, bringing the total holdings to 592,100 coins.

\\The Block reports: \\Circle's institutional-grade stablecoin creation platform Circle Mint and developer-oriented Circle API now support the issuance and use of USDC on the XRP Ledger (XRPL), further enhancing the liquidity of USDC on the network.
This update comes a week after Circle went public, indicating that the world's second-largest stablecoin USDC (by market capitalization) is accelerating its adoption in mainstream public chains.
According to a press release from Circle on Thursday, the support for Circle Mint and Circle API means that institutions and developers can now create and integrate USDC on XRPL, further advancing the network's development in the stablecoin space.
XRP Ledger (XRP

The Block reports: According to The Information, the core institution of global financial market infrastructure—the Depository Trust & Clearing Corporation (DTCC)—is developing a stablecoin, marking the institution's growing interest in the digital asset space.
DTCC recently pointed out in a blog that the use cases of stablecoins are increasingly expanding, covering key uses such as corporate cross-border fund management and payment systems.
Although DTCC has not publicly responded to the news of developing stablecoins, it clearly mentioned in its blog: "Stablecoins are gradually becoming an alternative settlement mechanism, demonstrating clear blockchain application value in improving payment efficiency."
"With the continuous update of payment infrastructure, stablecoins have now become one of the payment options, applicable to various ecological sub-sectors from retail cross-border transactions to securities settlement." — DTCC

The U.S. Senate passed the procedural vote on the GENIUS bill, which has drawn significant attention from the encryption industry and senators. The bill aims to promote the dominance of the dollar, requiring stablecoins to be 100% backed by the dollar, and emphasizes auditing. It needs 60 votes to pass, with 16 Democratic senators in support. The encryption industry has also reacted strongly. Despite Warren's opposition, supporters of the bill are actively calling for it.

Contributors of Synthetix proposed to acquire Derive through the exchange of SNX for DRV tokens, valuing it at $27 million, with an exchange rate of 27 DRV for 1 SNX. The acquisition will strengthen Synthetix's protocol capabilities on the Ethereum Mainnet, and DRV holders will receive SNX according to the vesting terms, locked up for 3 months, with a linear release over 9 months. To this end, 29.3 million SNX tokens will be issued. This acquisition is part of Synthetix's broader ecosystem integration strategy and may drive the launch of a derivatives trading exchange.

The Oracle Machine of the Ethereum staking protocol Lido has been attacked, resulting in a loss of 1.5 ETH. Chorus One stated that this is an isolated incident, and Lido is not under threat. The attacker extracted 1.46 ETH, and an investigation is underway. Lido's operations are not under threat, but in the worst-case scenario, it may affect stETH holders. The Lido DAO voted to rotate the Address, but the quorum was not reached. The Oracle Machine plays an important role in Decentralized Finance, and Lido has taken multiple measures to ensure security.

Encryption investment products achieved a total net inflow of 882 million dollars for the fourth consecutive week, mainly driven by U.S. ETFs, with Bitcoin funds leading the way. The Sui fund performed excellently, with a net inflow of 11.7 million dollars, surpassing Solana. The total assets under management of global encryption investment products reached 169.3 billion dollars, close to historical highs. The overall market is driven by factors such as M2 money supply and U.S. stagflation risks, leading to rapid growth in investment scale.

Riot Platforms sold a large amount of 475 BTC in April, with a net income of approximately $38.8 million. The company reported total revenue of $161.4 million for the first quarter, but a net loss of $296.4 million. As of May 5, Riot holds 19,211 BTC, making it one of the largest corporate Bitcoin holders. The company stated that it will continue to monitor the market and maintain its long-term Bitcoin strategy. Due to increased mining costs, the company’s stock price fell by 4% at the time the news was released.

Ark Invest uses a new experimental approach to predict that by 2030, the price of Bitcoin in a bull run could reach $2.4 million, which is much higher than the previous prediction of $1.5 million. The report also mentions price forecasts under different market scenarios, as well as modeling of the rise rate and market models. Analysts point out that Bitcoin plays different roles as digital gold under various market conditions, and the use of Bitcoin in emerging markets is also an important factor. The study highlights the importance of Bitcoin's scarcity and the significance of lost supply in valuation models.