18 Jul 2025, 06:43

The SEC is exploring an innovation exemption to promote asset tokenization.

The Securities and Exchange Commission Chair, Paul Atkins, said they are considering a regulatory exception to encourage tokenization. He told reporters, “Staff is considering what other changes may be appropriate to incentivize tokenization within our regulatory framework, including an innovation exception.” His remarks came shortly after the House passed the GENIUS Act—a key stablecoin bill—on Thursday. Atkins welcomed the move, emphasizing the SEC’s commitment to offering clearer guidance for the digital asset industry. The SEC chair claimed that assets will eventually be tokenized According to Atkins, they are exploring rule alterations to allow new trading methods and more targeted exemptions to support the development of a broader tokenized securities infrastructure. Several financial institutions have already shown interest in tokenizing major US stocks, and some have even hinted at developing tokenized products of private firms. While the future remains uncertain, Atkins argued that shifting assets onto blockchain rails is clearly inevitable, adding, “So if it can be tokenized, it will be tokenized.” He also talked about the recently approved stablecoin bill, hailing it as a “historic step” toward establishing the US as the global leader in crypto. He stated that he’s looking forward to seeing the market leverage the legislation provides while maintaining robust risk standards. Other backers of the bill have claimed it could enable quicker, lower-cost payments and bring credibility to the $265 billion stablecoin industry, which Citigroup analysts estimate could balloon to $3.7 trillion by 2030. Still, some Democrats like Senator Elizabeth Warren argue the legislation doesn’t go far enough in shielding consumers. House Democrats who opposed the bill cited concerns over President Trump’s involvement with crypto assets. According to Blomberg, Trump and his family have received $620 million from their crypto ventures, including the World Liberty Financial project, the TRUMP and MELANIA meme coins, and a 20% stake in American Bitcoin. The bill, however, had over 100 democrats vote in favor of it. Emilie Choi, Coinbase’s President, even described it as a giant milestone to have massive bipartisan support to advance stablecoins and market structure. The legislation stipulates that firms will hold equivalent dollar reserves in short-term government bonds or similar assets subject to state or federal oversight. It is set to reach Trump’s desk before the end of the week, where he is expected to sign it into law. Atkins had stated he would remove some of Gensler’s policies Paul Atkins has charted a distinctly different course on crypto from his predecessor, Gary Gensler, who critics say tried to govern the sector through enforcement. Atkins has previously expressed his intention to unwind key Gensler-era policies, including the rule allowing brokers to act as digital asset custodians. In May, he said the agency will make it easier to register crypto assets by clarifying securities rules. On custody, he said registrants should have more choices for managing and storing customer assets. He signaled the commission would reexamine and define the criteria for “qualified custodians,” while also granting exemptions from current custody requirements to align with common practices in the industry. Atkins also said the framework governing special-purpose broker-dealers is due for an overhaul. He supports allowing registered firms to trade a broader mix of securities and non-securities assets on their platforms. He also emphasized that the agency should work on replacing the existing rules with ones that could last for years. Additionally, he claimed the SEC can proceed without waiting for Congress to approve laws. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

18 Jul 2025, 06:43

Surprise Altcoin Developers Announce Completion of Token Buyback Program

The dYdX Foundation announced that it has repurchased a total of 2.86 million DYDX tokens to date as part of the buyback program it launched in March, with a total value of $1.87 million. As part of the program, an additional 593,570 DYDX will be acquired in the next buyback round, and all of these tokens will be used for staking purposes. As you may recall, dYdX announced on March 24, 2025, that it would use 25% of the net transaction fees generated by the protocol to repurchase DYDX from the market each month. Related News: This Altcoin's MicroStrategy Files with the SEC to Buy an Additional $5 Billion in Coins The buyback program was initiated by Treasury SubDAO, a subsidiary of dYdX Treasury, and implemented following community vote proposals #225 and #231. DYDX tokens purchased under the program are staked to support network security. The dYdX ecosystem generated a total of $5.05 million in protocol fees, allocating 25% of this revenue to buybacks. To date, 1.25 million DYDX tokens have been staked from these buybacks, bringing the total staked DYDX across the network to 295.39 million. The program provides an estimated annualized yield (APY) of DYDX tokens of 3.08%. *This is not investment advice. Continue Reading: Surprise Altcoin Developers Announce Completion of Token Buyback Program

18 Jul 2025, 06:40

AI Startup Lovable Achieves Phenomenal Unicorn Status in Just 8 Months

BitcoinWorld AI Startup Lovable Achieves Phenomenal Unicorn Status in Just 8 Months In the fast-paced world of technology, where innovation drives market shifts and creates new investment opportunities, the story of a Swedish AI startup is capturing global attention. Just as blockchain revolutionized finance, artificial intelligence is reshaping software development at an unprecedented pace. Lovable , a burgeoning name in the AI landscape, has recently achieved a monumental milestone, reaching unicorn status in a mere eight months since its inception. This incredible trajectory highlights the immense potential and investor confidence in cutting-edge AI solutions. How Did Lovable Achieve Unicorn Status So Rapidly? The journey to becoming a unicorn—a private company valued at over $1 billion—typically takes years, if not a decade. Lovable defied these norms, hitting a staggering $1.8 billion valuation just eight months after its launch. This meteoric rise was fueled by a significant $200 million Series A funding round, led by the renowned venture capital firm Accel. This round not only validates Lovable’s unique approach but also signals a strong belief in the future of AI-powered development tools. The company’s rapid growth can be attributed to several key factors: Innovative Technology: Lovable specializes in ‘vibe coding,’ enabling users to create websites and applications using natural language. This simplifies complex coding processes, making app development accessible to a wider audience. Massive User Adoption: Despite being a relatively new player, Lovable boasts over 2.3 million active users. While a significant portion uses the platform for free, a substantial 180,000 paying users have contributed to its impressive financial performance. Exceptional Revenue Growth: CEO Anton Osika revealed that the company reached an annual recurring revenue (ARR) of $75 million within seven months. This extraordinary financial traction undoubtedly made the company an attractive prospect for investors seeking high-growth opportunities. Understanding the Power of AI Coding AI coding platforms like Lovable represent a significant leap forward in software development. By harnessing the advanced reasoning and code-generation abilities of large language models (LLMs), these platforms empower individuals and teams to build applications faster and more efficiently. Similar to Cursor and other developer-centric AI tools, Lovable democratizes the app creation process, allowing users to articulate their vision in natural language and have the AI translate it into functional code. The core benefit of such technology lies in its ability to: Accelerate Development Cycles: Reduce the time and effort required to write, test, and deploy code. Lower Entry Barriers: Enable non-programmers or those with limited coding experience to build digital products. Enhance Productivity: Assist experienced developers by automating repetitive tasks and generating code snippets, allowing them to focus on more complex problem-solving. This paradigm shift is not just about speed; it’s about making creation more intuitive and inclusive, fostering a new wave of digital innovation. The Funding Journey: From Pre-Series A to Unicorn Lovable’s journey to unicorn status was marked by impressive investor confidence across multiple rounds. The $200 million Series A funding round saw participation from existing investors, including 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club. This continuity of investment underscores the strong belief in Lovable’s vision and execution. Let’s look at the funding progression: Round Date Amount Raised Valuation Lead Investor(s) Pre-Series A February $15 million Not explicitly stated Creandum Series A Within 8 months of launch $200 million $1.8 billion Accel At the time of its pre-Series A round, Lovable had already achieved an ARR of $17 million and boasted 30,000 paying customers. The subsequent jump to $75 million ARR in just a few months is a testament to the platform’s stickiness and its ability to convert free users into paying subscribers. A Lean Team with a Colossal Impact: The Lovable AI Story Perhaps one of the most remarkable aspects of Lovable’s success is its operational efficiency. The company achieved this hockey-stick growth with a surprisingly lean team of only 45 full-time employees. This efficiency highlights the scalability and leverage provided by their advanced AI coding technology, allowing a small group to manage and grow a platform serving millions of users. The company also attracted a high-profile roster of angel investors, further validating its potential. These include industry luminaries such as: Sebastian Siemiatkowski (CEO of Klarna) Job van der Voort (CEO of Remote) Stewart Butterfield (Co-founder of Slack) Dharmesh Shah (Co-founder of Hubspot) The involvement of such influential figures speaks volumes about the perceived market opportunity and the quality of the Lovable team and product. What’s Next for This Swedish AI Startup? With a fresh injection of $200 million, Lovable is poised for even greater expansion. The funds will likely be used to scale operations, further develop its AI models, and potentially explore new markets. The challenge for Lovable, like any rapidly growing tech company, will be to maintain its innovation pace, manage user growth, and continue to convert its large free user base into paying customers amidst an increasingly competitive landscape of AI coding tools. Lovable’s journey serves as a compelling case study for the immense potential of AI in transforming traditional industries and creating unprecedented value in record time. Their ability to attract significant capital and users so quickly underscores the urgent demand for more intuitive and powerful development tools. Conclusion: A New Era for App Development The emergence of Lovable as a unicorn in less than a year is a landmark event in the tech world. It not only showcases the incredible pace of innovation in artificial intelligence but also sets a new benchmark for startup growth. By making app and website creation accessible through natural language, Lovable is not just building a product; it’s shaping the future of digital development. Their rapid ascent, backed by substantial Series A funding and an expanding user base, solidifies their position as a key player to watch in the evolving AI landscape. To learn more about the latest AI market trends, explore our article on key developments shaping AI Models and their institutional adoption . This post AI Startup Lovable Achieves Phenomenal Unicorn Status in Just 8 Months first appeared on BitcoinWorld and is written by Editorial Team

18 Jul 2025, 06:30

SharpLink Gaming’s Audacious Strategy: A $6 Billion Stock Issuance to Propel Ethereum Holdings

BitcoinWorld SharpLink Gaming’s Audacious Strategy: A $6 Billion Stock Issuance to Propel Ethereum Holdings In a move that underscores the growing convergence of traditional finance and the burgeoning world of digital assets, SharpLink Gaming , a Nasdaq-listed entity, has made headlines with its ambitious strategy to significantly increase its Ethereum (ETH) holdings. This isn’t just another company dipping its toes into crypto; SharpLink is diving deep, having recently escalated its common stock issuance limit from an already substantial $1 billion to an astounding $6 billion. The primary driver behind this monumental increase? More ETH purchases . SharpLink Gaming’s Pivotal Shift: What’s Driving This Strategy? For those unfamiliar with the company, SharpLink Gaming has been strategically positioning itself in the digital sports and gaming content sector. However, its recent actions reveal a profound belief in the long-term value and utility of Ethereum . The company currently boasts an impressive portfolio of approximately 321,000 ETH, valued at around $1.1 billion. This isn’t a small speculative bet; it’s a core component of their financial strategy. But why would a gaming company make such a significant pivot towards accumulating a cryptocurrency? Long-Term Value Proposition: SharpLink likely views Ethereum as a robust, foundational technology with immense potential for future growth, similar to how some corporations hold gold or other commodities. Diversification: Adding a digital asset like ETH can offer diversification away from traditional financial instruments and potentially hedge against inflation. Innovation Alignment: As a digital-focused company, investing in a leading blockchain platform like Ethereum aligns with a forward-thinking, tech-centric vision. Understanding the Massive Stock Issuance: Fueling Future Growth The decision to raise the common stock issuance limit from $1 billion to $6 billion is a clear signal of intent. This mechanism allows SharpLink to issue new shares to the public, thereby raising capital. This capital, as reported by The Block, is largely earmarked for further ETH purchases . It’s a strategic financial maneuver that allows the company to fund its ambitious digital asset accumulation without depleting existing operational capital. Consider the implications of such a move: Aspect Previous Limit New Limit Common Stock Issuance $1 Billion $6 Billion Primary Use of Funds General Corporate Purposes Largely for ETH Purchases Current ETH Holdings ~321,000 ETH ($1.1 Billion) Targeting Significant Increase This massive increase in potential funding capacity demonstrates SharpLink’s commitment to its Ethereum strategy, positioning itself to become one of the largest corporate holders of the cryptocurrency. Why Ethereum? The Case for ETH Purchases by a Public Company Among the thousands of cryptocurrencies, why has SharpLink Gaming chosen Ethereum for such a significant investment? Ethereum isn’t just a digital currency; it’s the backbone of a vast decentralized ecosystem. It powers decentralized applications (dApps), NFTs, DeFi protocols, and much more. Its transition to Proof-of-Stake (the Merge) has also made it more energy-efficient and scalable, enhancing its appeal to institutional investors. Key reasons for the appeal of ETH purchases : Ecosystem Dominance: Ethereum boasts the largest and most vibrant developer community and dApp ecosystem in the blockchain space. Deflationary Mechanism: With EIP-1559 and the Merge, a portion of transaction fees are burned, potentially making ETH a deflationary asset over time. Staking Yield: Post-Merge, ETH holders can stake their tokens to earn rewards, offering a passive income stream. Future Scalability: Ongoing upgrades like sharding aim to significantly increase Ethereum’s transaction processing capabilities, making it more robust for widespread adoption. SharpLink’s confidence in Ethereum suggests a belief in its enduring utility and its potential to become a cornerstone of the future digital economy. The Broader Trend: Institutional Crypto Adoption on the Rise SharpLink’s move is not an isolated incident but rather a potent indicator of a broader trend: the accelerating pace of institutional crypto adoption. What was once considered a niche, speculative asset class is now increasingly being integrated into the portfolios and strategies of major corporations, hedge funds, and traditional financial institutions. We’ve seen: Bitcoin ETFs: The approval of spot Bitcoin ETFs in the US has opened the floodgates for easier institutional access to cryptocurrency. Corporate Treasury Holdings: Companies like MicroStrategy have famously accumulated vast amounts of Bitcoin, setting a precedent for corporate treasury diversification into digital assets. Banking and Financial Services: Major banks are exploring or offering crypto-related services to their clients. Institutional crypto investment adds legitimacy and stability to the market, bringing significant capital and professional management expertise. SharpLink’s aggressive stance with ETH purchases solidifies Ethereum’s position as a preferred asset for these sophisticated players. Navigating the Waters: Benefits and Challenges of This Bold Move While SharpLink’s strategy presents exciting opportunities, it also comes with its own set of considerations. Understanding both the benefits and potential challenges is crucial for investors and market watchers alike. Potential Benefits for SharpLink Gaming: Capital Appreciation: If Ethereum’s value continues to grow, SharpLink’s substantial holdings could significantly boost its balance sheet and shareholder value. Market Leadership: Becoming a major corporate holder of ETH could position SharpLink as a leader in digital asset integration, attracting a new class of investors. Strategic Alignment: For a tech-forward company, holding a foundational blockchain asset aligns with a vision of innovation and future readiness. Inflation Hedge: In an environment of potential inflation, digital assets like ETH can serve as a hedge against the depreciation of fiat currencies. Potential Challenges and Risks: Price Volatility: Cryptocurrencies, including Ethereum, are notoriously volatile. Significant price swings could impact SharpLink’s financial statements. Regulatory Uncertainty: The regulatory landscape for cryptocurrencies is still evolving globally, posing potential risks for large institutional holders. Security Risks: Holding large amounts of digital assets requires robust security measures to prevent hacks or theft. Market Liquidity: While Ethereum is highly liquid, very large sales could still impact market prices. What Does This Mean for the Ethereum Market? The sheer scale of SharpLink Gaming’s potential ETH purchases has significant implications for the broader Ethereum market. Increased institutional demand typically leads to greater price stability and upward pressure, as large buy orders absorb supply. If more companies follow SharpLink’s lead, it could: Boost Demand: Drive up the demand for ETH, potentially influencing its price trajectory. Enhance Legitimacy: Further legitimize Ethereum as a serious investment asset for traditional finance. Reduce Volatility: Large institutional holders, with their long-term strategies, can contribute to reducing extreme short-term volatility. SharpLink’s strategy is a testament to the increasing confidence in Ethereum’s future, signaling a potential shift in how public companies view and integrate digital assets into their core financial operations. A Bold Leap into the Digital Future SharpLink Gaming’s decision to dramatically increase its stock issuance limit to fund substantial ETH purchases is more than just a financial transaction; it’s a powerful statement about the future of corporate finance and the role of digital assets. By committing such significant resources to Ethereum , SharpLink Gaming is not only making a bold investment but also contributing to the accelerating trend of institutional crypto adoption. This move highlights Ethereum’s growing importance as a foundational digital asset and sets a compelling precedent for other companies contemplating their own forays into the blockchain economy. As the lines between traditional and decentralized finance continue to blur, SharpLink Gaming stands out as a pioneer, charting a course towards a more digitally integrated financial future. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum institutional adoption. This post SharpLink Gaming’s Audacious Strategy: A $6 Billion Stock Issuance to Propel Ethereum Holdings first appeared on BitcoinWorld and is written by Editorial Team

18 Jul 2025, 05:44

Nearly 100,000 Participations Recorded! HTX’s 12th Anniversary “Mars Program” Special Event Ignites a Frenzy

Panama, July 18, 2025 – HTX, a leading global cryptocurrency exchange, is proud to announce the overwhelming success of its “Mars Program” special event, a cornerstone of its 12th-anniversary celebrations. With nearly 100,000 participation counts already, this program underscores HTX’s dedication to driving Web3 innovation and fostering a vibrant community. The excitement intensifies with the impending space journey of Justin Sun, Advisor to HTX, marking the official launch of HTX’s 12th anniversary and ushering in a new era for the crypto space. Collaborating with esteemed ecosystem partners, HTX is actively distributing a substantial prize pool of up to $300,000, inviting global users to participate in this celebratory occasion. $300,000 Up for Grabs at HTX Event Details: https://www.htx.com/microapps/en-us/double-invite-retail/round-about?activityId=175187356313785&inviter_id=11357320 A Dream of Space: HTX’s 12 Years of Innovation Since its inception in 2013, HTX has supported tens of millions of users worldwide, offering a wide range of services that include trading, asset management, and on-chain ecosystems. The platform remains steadfast in its commitment to advancing blockchain technology and fostering financial liberalization. HTX celebrates its 12th anniversary under the theme “Breaking Boundaries”. A space journey is a fitting tribute to the platform’s forward-looking vision—one that embraces technological innovation, human potential, and the ambition to reach new heights. More than a symbolic act, this cosmic voyage represents the fearless spirit of exploration that defines the Web3 era. “Mars Program” Sparks Global Participation To ensure widespread participation in the excitement of the space journey, HTX has meticulously launched the “Mars Program” special event series, offering a total prize pool of up to $300,000. Users who visit the “Mars Program” event page before July 30 and complete tasks like trading, subscribing to Earn products, inviting friends, or posting in the community can earn entries into a prize draw with rewards including TRX , Cashback Vouchers, Margin Interest Vouchers, Futures Trial Bonuses, APY Booster Coupons, and more. The event, launched on July 10, has experienced a continuous surge in popularity, attracting enthusiastic participants from across the globe. As of July 14, the event has accumulated nearly 100,000 participation counts, distributed almost 80,000 USDT in rewards, and awarded nearly 30 grand prizes of 888 TRX each. The event is still in full swing, demonstrating HTX’s strong user activity and market influence. Leading Web3 Development with Esteemed Sponsors The “Mars Program” special event is a collaborative effort between HTX and multiple TRON ecosystem projects. These pivotal partners of HTX are dedicated to driving innovation and practical applications within the Web3 ecosystem in their respective domains. Together with HTX, they are collectively striving to construct a more open, interconnected, and trustworthy blockchain future. Event sponsors include: SunPump: The TRON ecosystem’s first platform for fair launch meme coins. APENFT : The first NFT fair-launch platform in the TRON ecosystem, offering one-stop tools to empower creators, collectors, and projects. JUST Protocol : The TRON network’s first decentralized finance (DeFi) ecosystem. WINkLink: The first comprehensive oracle project in the TRON ecosystem, providing accurate and stable external digital currency price information for decentralized applications (DApps). BitTorrent : The world’s largest decentralized P2P communication protocol. Steemit: The first and foremost social platform on the Steem blockchain, launched in 2016. SunGenX: An AI-driven meme coin issuance assistant launched by SunPump, operating within the TRON ecosystem. Forward Outlook The “Mars Program” special event delivered outstanding results, setting a high note for HTX’s 12th-anniversary celebration. This landmark occasion serves not only as a reflection of HTX platform’s growth trajectory but also powerfully showcases the dynamic vitality of the Web3 ecosystem. Moving forward, HTX will reinforce its user-centric and technology-driven philosophy, actively expanding its global strategic presence, and fostering collaborative partnerships to build a more open, interconnected, and sustainable blockchain world. About HTX Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide. To learn more about HTX, please visit https://www.htx.com/ or HTX Square and follow HTX on X , Telegram , and Discord . For further inquiries, please contact [email protected]. The post Nearly 100,000 Participations Recorded! HTX’s 12th Anniversary “Mars Program” Special Event Ignites a Frenzy first appeared on HTX Square .

18 Jul 2025, 05:30

US House Passes 3 Major Crypto Bills Before August Recess

The bipartisan support for the first two bills indicates that there is growing political momentum behind establishing clearer crypto market rules. Meanwhile, President Donald Trump is expected to sign the GENIUS Act and may also issue an executive order allowing 401(k) retirement plans to invest in cryptocurrencies and other alternative assets. In addition to this, Trump recently nominated Eric Tung, a lawyer with extensive crypto industry ties, to the influential Ninth Circuit Court of Appeals. House Passes Three Crypto Bills The US House of Representatives passed three key pieces of cryptocurrency legislation after delays caused by Republican debates over central bank digital currencies (CBDCs). In a session that was held Thursday, lawmakers approved the Digital Asset Market Clarity (CLARITY) Act with a 294-134 vote, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act with a 308-122 vote, and the Anti-CBDC Surveillance State Act by a narrower margin of 219-210. Voting in the CLARITY Act (Source: US House of Representatives ) The passage of these bills is a massive legislative milestone in the US digital asset landscape. Almost 80 Democrats voted in favor of the CLARITY Act, while more than 100 supported the GENIUS Act. The support from both parties for two of the three bills suggests that there is growing bipartisan momentum for crypto regulation, though the Anti-CBDC legislation is still deeply divisive. Republicans strongly rallied behind the legislative package as part of their self-declared “crypto week.” However, the legislative process was delayed on Wednesday as some Republicans demanded a clearer stance against the development of a US CBDC. Industry stakeholders mostly welcomed the House’s approval of the bills. Summer Mersinger, former commissioner of the Commodity Futures Trading Commission (CFTC) and current CEO of the Blockchain Association, praised the Anti-CBDC measure as a defense of individual financial freedom and market competition. Despite this optimism, the opposition was also quite vocal. Representative Maxine Waters of California condemned the bills during a press conference she branded as “anti-crypto corruption week,” and warned that the proposed legislation could weaken federal financial safeguards and open the door to systemic risks similar to the 2008 financial crisis. Truth Social post from President Donald Trump President Trump is reportedly ready to sign the GENIUS Act by Friday, assuming it remains unchanged after passing the Senate in June. Meanwhile, the CLARITY and Anti-CBDC bills will proceed to the Senate for further consideration. This means that they could be amended before returning to the House or reaching the president’s desk. Trump Eyes Crypto in 401(k) Plans President Donald Trump is also reportedly preparing to sign an executive order that could open the door for American 401(k) retirement plans to invest in alternative assets beyond traditional stocks and bonds, including cryptocurrencies. According to a report by the Financial Times , the executive order may be signed as early as this week and would direct regulatory agencies in Washington to explore how 401(k) plans could incorporate digital assets, metals, and funds related to infrastructure projects, corporate acquisitions, and private lending. President Donald Trump The initiative could cause a big shift in the investment options available to American workers saving for retirement. While the Financial Times cited anonymous sources familiar with the matter, White House spokesman Kush Desai warned that no decision should be considered final unless confirmed by President Trump himself. This potential move follows the US Labor Department’s May decision to rescind restrictions imposed during the Biden administration that limited the inclusion of cryptocurrencies in 401(k) plans. The regulatory rollback may also pave the way for more institutional involvement in digital assets. Meanwhile, private firms have already started moving in this direction. In April, financial services giant Fidelity, which manages $5.9 trillion in assets, launched a new crypto-enabled retirement account for American investors. The broader 401(k) market consisted of over 715,000 plans that held $8.9 trillion in assets in September of 2024. Fidelity crypto offering At the state level, North Carolina lawmakers introduced legislation in March that would allow up to 5% of various public retirement funds to be allocated to cryptocurrencies like Bitcoin. Internationally, pension funds in the United Kingdom and Japan also explored crypto allocations. In November, UK-based Cartwright reported that an undisclosed pension scheme committed 3% of its assets to Bitcoin, while Japan’s Government Pension Investment Fund was weighing the digital asset as a diversification strategy. If enacted, Trump’s executive order could be a historic development in the intersection of digital assets and retirement savings. Trump Picks Crypto Ally for Appeals Court Eric Tung, a corporate lawyer who is well known for representing major players in the crypto space, has been nominated by President Donald Trump to serve as a judge on the Ninth Circuit Court of Appeals. The nomination was sent to the Senate on Tuesday, but Tung’s potential appointment drew a lot of attention due to his deep ties to the digital asset industry. If confirmed, he will preside over appeals from nine western states, including California, a hub for tech and crypto companies. Trump nominations Tung is currently a partner at law firm Jones Day, and previously represented high-profile crypto clients like the Blockchain Association in its legal challenge against the US Treasury Department over sanctions on Tornado Cash. He also served as counsel in a case against BitMEX’s parent company and defended stablecoin issuers by arguing that some sales do not constitute securities offerings. Watchdog group Accountable.US criticized the nomination, and warned that Tung’s record suggests he may support deregulating the crypto sector as part of the Trump administration’s pro-crypto agenda. The group specifically mentioned his history of challenging regulatory oversight of smart contracts and stablecoins.