6 May 2025, 07:02

Florida Latest to Drop Crypto Bills, Stalling State-Level Bitcoin Reserve Push

Florida has become the latest US state to abandon efforts to establish a strategic Bitcoin reserve, dealing another setback to the broader push for state-level crypto adoption. Two proposed bills — House Bill 487 and Senate Bill 550 — were officially withdrawn from the legislative process on May 3, according to the Florida Senate . The legislative session had adjourned a day earlier, on May 2, without taking action on the crypto-focused proposals. Florida Extends Session, But Crypto Bills Left Behind Though lawmakers agreed to extend the session until June 6 for budget negotiations, the crypto bills will not be reconsidered. HB 487, introduced in February, would have authorized Florida’s chief financial officer and the State Board of Administration to allocate up to 10% of select state funds into Bitcoin. SB 550, filed in parallel, aimed to facilitate similar investments of public funds into the digital asset. Their removal places Florida alongside a growing list of states — including Wyoming, South Dakota, North Dakota, Pennsylvania, Montana, and Oklahoma — that have recently failed to pass legislation allowing Bitcoin-based investment strategies. The data comes from Bitcoin Laws, a site tracking crypto-related state policy efforts. During the recent Florida legislative session, lawmakers passed roughly 230 bills addressing a wide range of issues, from banning smartphones in schools to protecting state parks. However, cryptocurrency initiatives were noticeably absent from the final tally. Arizona has two more chances to be the first in the nation to establish a Bitcoin Reserve. The most likely to pass (HB 2749) was authored by @JeffWeninger , and it offers a budget neutral method to fund the reserve using profit from the unclaimed property fund. @EleanorTerrett pic.twitter.com/yGlrz2saql — Dennis Porter (@Dennis_Porter_) May 5, 2025 Florida’s move follows closely behind developments in Arizona, where a promising crypto initiative was also halted. Arizona’s House Bill 1025, which had advanced further than any other similar bill nationwide, was vetoed on May 3 by Governor Katie Hobbs. She called digital assets “untested investments,” effectively stopping the proposed Digital Assets Strategic Reserve Act in its tracks. Crypto Advocates Slam Politicians Over Bitcoin Veto The veto sparked backlash from crypto advocates, including investor Anthony Pompliano, who criticized political leaders for dismissing Bitcoin’s potential. Dennis Porter, CEO of the Satoshi Action Fund, pointed out that Arizona still has two remaining bills under consideration — HB 2749 and SB 1373 — that could revive the state’s efforts to become the first in the U.S. to create a Bitcoin reserve. HB 2749 is particularly notable for being budget-neutral, as it proposes using profits from the state’s unclaimed property fund. SB 1373, meanwhile, would allow the treasurer to invest up to 10% of state funds in digital assets, though it has not yet faced a final vote. As reported, the US Senate is also facing a sudden breakdown in negotiations over a landmark cryptocurrency bill, placing one of former President Donald Trump’s top financial policy priorities in jeopardy. The legislation, aimed at establishing the country’s first federal regulatory framework for stablecoins—digital assets pegged to the U.S. dollar—has hit a bipartisan snag, following pushback from key Senate Democrats. On Saturday, nine Democratic senators, including some who had previously backed the bill in committee, issued a joint statement rejecting a revised version of the legislation introduced by Republicans last week. The post Florida Latest to Drop Crypto Bills, Stalling State-Level Bitcoin Reserve Push appeared first on Cryptonews .

6 May 2025, 07:00

Ripple Scraps XRP Reports Post-SEC Case, Switches to Flexible Disclosure

Ripple ends the SEC lawsuit and shifts to real-time XRP updates via digital channels. The $1.25B Hidden Road deal aims to scale XRPL and support RLUSD growth. Institutional interest in XRP ETPs rises amid U.S. policy shift on crypto assets. Ripple is changing how it produces its XRP Markets Report after an eventful first quarter in 2025, including the end of its long-running legal case with the U.S. Securities and Exchange Commission (SEC) and the acquisition of prime brokerage platform Hidden Road. In Q1 2025, Ripple reached a settlement with the SEC, officially closing a case that began in December 2020. The lawsuit centered on whether XRP should be treated as a security under U.S. law and heavily influenced talks about digital asset rules in the U.S. New Way to Share Information With the SEC case resolved, Ripple CEO Brad Garlinghouse said the company will stop grouping updates into a single quarterly XRP Markets Report. Going forward, news about XRP and Ripple’s business will be shared as it happens through Ripple’s existing official channels, like its social media pages and the company website. Garlinghouse provided context on this change via… The post Ripple Scraps XRP Reports Post-SEC Case, Switches to Flexible Disclosure appeared first on Coin Edition .

6 May 2025, 06:59

Gaming ecosystem Treasure Chain shuts down mainnet nearly five months after its launch

TreasureDAO will shut down its ZKsync-based Treasure Chain on May 30, nearly five months after announcing urgent cost-cutting measures and securing temporary emergency powers. TreasureDAO is pulling the plug on Treasure Chain, its own network built on ZKsync’s layer-2 scaling solution, by May 30 after TIP-52 passed, giving the core team emergency powers to handle the shutdown without stopping for more votes. Treasure Chain Wind-Down⛓️🌇 Following the successful ratification of TIP-52, the Treasure Chain will shut down on May 30, 2025. Holders must bridge out all ETH, MAGIC, SMOL, and NFT holdings by the end of May. Additional updates, timelines, and next steps are outlined below👇 — Treasure (@Treasure_DAO) May 6, 2025 In an X thread on May 6, the TreasureDAO team urged users to bridge out all their assets as well as non-fungible tokens by the end of May. The wind-down is part of a broader pivot to reduce costs and focus on product development. “Bridging to Treasure Chain has been discontinued,” the team said, noting that “MAGIC-ETH has been migrated to L1 Ethereum and is now tradable on Uniswap,” while “SMOL-MAGIC liquidity migration to L1 is underway.” Despite shutting down the chain, the team reassured it’s in a strong position to continue its operations as its USDC runway “extended through Fall 2026.” “Treasure is in a strong position, with our USDC runway extended through Fall 2026 — excluding a recovering MAGIC treasury. The Treasure Chain wind-down will accelerate our product development and reduce operational costs, positioning us for the next stage of growth.” TreasureDAO Even with the mainnet shutting down, the team framed the decision not as giving up, but as “a positive move for the org.” The team also added that “retiring the chain is presented as a necessity, not a choice.” You might also like: ZKSync recovers funds stolen in $5M exploit after hacker claims bounty Still, the shutdown comes with hard financial truths. In internal updates, co-founder John Patten pointed out the DAO’s burn rate had become unsustainable, with its runway potentially drying up by late 2025. Keeping Treasure Chain running cost about $450,000 a year — money the treasury could no longer justify, especially with ZKsync grants unlocking slowly over time. To ease the transition, the proposal lets the team manage around 3.18 million MAGIC and 138 ETH in DAO-owned liquidity. As TreasureDAO put it, the shutdown is an “emergency measure reflecting the current extraordinary circumstances, not a permanent change to DAO governance principles.” Treasure was among early builders on Arbitrum before launching its own chain on ZKsync. At its peak, it even accounted for more than 95% of all gaming and NFT transactions on Arbitrum and has generated over $260 million in marketplace volume since launch, according to data from Nansen. Read more: Arbitrum’s $ARB incentives failed to retain users, says Pink Brains

6 May 2025, 06:50

Ripple Confirms Agreement to End XRP Case With SEC In Latest Report

Ripple has officially confirmed in its Q1 2025 XRP Markets Report that it has agreed with the U.S. Securities and Exchange Commission (SEC) to conclude the long-running legal battle that has been ongoing since December 2020. Shared via Ripple’s official X account , the report details the landmark resolution and highlights pivotal developments that further solidify XRP’s growing role in institutional finance and global crypto infrastructure. The start of 2025 saw major momentum for Ripple, XRP, and the broader crypto industry. The Q1 2025 XRP Markets Report is here: https://t.co/CWpeEQW6XT Highlights include: SEC and Ripple reached an agreement to end the lawsuit Hidden Road acquired for $1.25B to scale XRPL… — Ripple (@Ripple) May 5, 2025 SEC Lawsuit Concludes, Marking a Historic Turning Point One of the report’s most consequential revelations is the announcement of a finalized agreement with the SEC , signaling the formal end of a high-profile lawsuit that has, for years, cast uncertainty over XRP’s regulatory standing in the U.S. While specifics of the settlement have not been disclosed in full within the Q1 document, the confirmation alone represents a watershed moment—not just for Ripple, but for the entire crypto ecosystem. This resolution marks the beginning of a new chapter where XRP can finally compete on an even playing field in the U.S. market, free from the overhang of securities law ambiguity. The conclusion of this case may also serve as a legal blueprint for other crypto projects entangled in similar regulatory challenges. By opting for settlement, Ripple demonstrates its willingness to collaborate with regulators and clears the path for broader institutional participation in its ecosystem. Hidden Road Acquisition Bolsters XRPL and RLUSD Adoption Another standout development is Ripple’s $1.25 billion acquisition of Hidden Road, a prime brokerage firm with deep institutional connections. This strategic move underscores Ripple’s vision to scale both the XRP Ledger (XRPL) and its recently launched RLUSD stablecoin, which is designed for enterprise-grade settlements and tokenized real-world asset (RWA) issuance. Hidden Road’s infrastructure will enable Ripple to expand its institutional liquidity rails, improve capital efficiency, and deepen XRPL’s utility in real-time cross-border settlement. Moreover, this acquisition effectively brings Ripple into the ecosystem of Hidden Road’s notable partners, including legacy financial giants such as BlackRock, which uses Hidden Road as part of its BUIDL ecosystem for triparty collateral. By aligning itself with infrastructure trusted by Wall Street, Ripple is extending the XRPL’s reach and accelerating RLUSD’s institutional uptake. XRP Sees Rise in Institutional Demand Ripple’s Q1 report also details a significant rise in demand for XRP-based investment products, with institutional flows shifting markedly in XRP’s favor. As market confidence in the asset grows, especially following legal clarity, so does its appeal as a bridge asset for real-time value transfer. The renewed interest comes alongside rising volumes on derivatives platforms, greater activity in custody services, and increased uptake among financial institutions seeking alternatives to legacy settlement rails. As demand consolidates across North America, Europe, and Asia-Pacific, XRP is increasingly seen as a strategic asset for institutions building tokenized financial infrastructure. Ripple’s continued development of products that use XRP for liquidity provisioning, such as Liquidity Hub and Ripple Payments, further catalyzes adoption. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 U.S. Policy Shift Signals a New Regulatory Environment Beyond corporate milestones, the report notes a notable shift in the U.S. regulatory tone. With bipartisan support emerging for digital asset frameworks and clearer legislative signals from Congress and federal agencies, Ripple sees increasing opportunity for compliant innovation. The company highlighted how a more defined policy landscape allows it to engage more directly with U.S. institutions and regulators, paving the way for deeper domestic expansion. Ripple emphasized that while regulatory risk remains a challenge globally, the clarity achieved in the U.S., especially through the resolution with the SEC, serves as a strong foundation for XRP’s future. The company remains committed to working with lawmakers and public agencies to ensure responsible development and deployment of blockchain technologies. Transparency and Reporting to Evolve in Q2 2025 Finally, Ripple announced that its reporting model will evolve starting in Q2 2025. While the XRP Markets Report in its current form will be discontinued, Ripple affirmed its commitment to transparency, noting that future updates on XRP-related metrics, holdings, and ecosystem developments will continue through its official channels, including @Ripple and @RippleXDev. Public access to Ripple’s XRP holdings and escrow-related transactions will also remain available at ripple.com. This transition reflects Ripple and XRP’s maturing phase, signaling a shift from legal defense to proactive expansion, market development, and institutional onboarding. The Q1 2025 XRP Markets Report encapsulates a defining moment for Ripple and XRP. With the SEC lawsuit behind it, a major institutional acquisition completed, and momentum accelerating on multiple fronts, Ripple is now positioning XRP at the core of tomorrow’s financial plumbing. As legal clarity and strategic infrastructure converge, Ripple’s thesis for XRP as a global settlement asset may be closer to realization than ever before. 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 Twitter , Facebook , Telegram , and Google News The post Ripple Confirms Agreement to End XRP Case With SEC In Latest Report appeared first on Times Tabloid .

6 May 2025, 06:33

Corporations Could Add $330B to Bitcoin Treasuries in Next 5 Years: Bernstein

According to recent Bernstein research, corporations could invest up to $330 billion in Bitcoin over the next five years. “We expect around $330 billion corporate treasury-led inflows to Bitcoin by 2029,” the analysts stated. This potential shift suggests Bitcoin is evolving from a speculative asset to a legitimate corporate treasury option. They added that, over the next five years, “we expect listed corporates to allocate around $205 billion in capital for Bitcoin acquisition.” This will be led by “small-low growth companies, trying to emulate Strategy’s Bitcoin treasury model,” they added. Bernstein: “We expect ~$330Bn corporate treasury led inflows to Bitcoin by 2029E. Over the next 5 years (CY25E-29E), we expect listed corporates to allocate ~$205Bn capital for Bitcoin acquisition, led by small-low growth companies, trying to emulate MSTR’s Bitcoin treasury… pic.twitter.com/RPgXkLG1Gt — matthew sigel, recovering CFA (@matthew_sigel) May 5, 2025 Corporate Accumulation Researchers at the wealth management giant predicted that companies with $100 million or more in cash reserves could contribute $190 billion to BTC allocations. High-growth smaller firms might add $11 billion by 2026, and even conservative estimates suggest $5 billion could come from ten large firms by 2027. The researchers made most of their predictions by comparing them to Michael Saylor’s Strategy (formerly MicroStrategy) model, which has been a huge success. “In our bull case, we expect another $124 billion in inflows from Strategy alone, reaffirmed by their recently upsized capital raise plans,” they stated. Small companies with low growth and high cash have a “better market fit with the Strategy Bitcoin playbook,” they said before adding: “There is no visible road ahead for them for value creation, and the success of the MSTR model offers them a rare growth path.” However, Bernstein cautioned that not every company can successfully replicate Strategy’s model, and its performance is heavily dependent on Bitcoin price movements. Strategy: The Industry Leader Michael Saylor’s software firm spent more than $180 million to acquire an additional 1,895 BTC on May 5. This brings the total holdings to 555,450 BTC, worth a whopping $52.5 billion at current market prices. The firm has a dollar cost average purchase price of $68,569 per BTC, which has yielded an unrealized profit of almost 38%, or more than $14 billion, according to the Saylor Tracker. This has also been reflected in the firm’s share prices, which are up 97% since the beginning of the year, according to Google Finance. Comparatively, Bitcoin is trading very close to the levels it changed hands for on January 1. According to BitBO, public companies collectively hold more than 723,000 BTC worth over $68 billion. Mining and data center firms, Marathon Digital Holdings, Riot Platforms, and CleanSpark follow Strategy in terms of amount held. The post Corporations Could Add $330B to Bitcoin Treasuries in Next 5 Years: Bernstein appeared first on CryptoPotato .

6 May 2025, 06:28

Florida drops Bitcoin reserve plans as HB 487 and SB 550 withdrawn

Florida has become the latest state to drop plans for a Strategic Bitcoin Reserve, shelving two key bills that would have allowed public funds to be invested in Bitcoin. According to the Florida Senate , both of Florida’s Bitcoin reserve bills, House Bill 487 and Senate Bill 550, were “indefinitely postponed and withdrawn from consideration” on May 3. The state’s legislative session ended on May 2 without a vote on either bill, effectively killing the proposal despite early momentum. HB 487 , titled “Investments of Public Funds in Bitcoin,” was introduced in February and passed its first committee hearing unanimously on April 10. The bill would have allowed the state’s Chief Financial Officer and the State Board of Administration to allocate up to 10% of key public funds, including the General Revenue Fund and Budget Stabilization Fund, into Bitcoin. It also included provisions for lending BTC and using it in exchange-traded products, while outlining strict custody and compliance requirements. SB 550, a companion bill filed the same month, mirrored HB 487’s goals and sought to authorize similar investments from Florida’s state funds. However, with neither bill progressing past committee stages before session adjournment, Florida’s attempt to join the growing list of states exploring Bitcoin-backed treasuries has now stalled. You might also like: Arizona becomes first U.S. state to pass Strategic Bitcoin Reserve bill Florida joins a growing group of states that have seen their Bitcoin reserve efforts fizzle out. Wyoming, South Dakota, North Dakota, Pennsylvania, Montana, and Oklahoma have all had similar bills fail to pass House or Senate votes in recent months. Oklahoma’s HB 1203 , for example, made it through multiple legislative hurdles but was narrowly voted down in committee after facing bipartisan pushback. The retreat by these states comes despite growing interest in Bitcoin as a hedge against inflation and a diversification tool for state treasuries. Several lawmakers had pitched the idea as a bold move to modernize public finance and reduce reliance on fiat currencies. Arizona is currently leading the race, but not without setbacks. On April 28, its legislature passed SB 1025 and SB 1373 to establish a Strategic Bitcoin Reserve. Still, Governor Katie Hobbs vetoed SB 1025 days later, calling digital assets “untested investments” and citing budget concerns. Despite the veto, Arizona still has two other active bills, HB 2749 and SB 1373. HB 2749 proposes a budget-neutral reserve funded by unclaimed property profits, while SB 1373 would allow up to 10% of state funds to be invested in digital assets. Read more: New Hampshire Bitcoin Reserve Bill passed Senate committee