21 May 2025, 11:30

SEC and NYC Signal Strategic Embrace of Blockchain Technology

In a pivotal week for US crypto policy, Securities and Exchange Commission Chair Paul Atkins and New York City Mayor Eric Adams outlined major new initiatives aimed at integrating blockchain technology and digital assets into both federal regulation and urban innovation. Atkins, testifying in one of his first public hearings since taking office, reaffirmed his commitment to prioritizing digital asset oversight, while Adams announced the formation of a Digital Advisory Council to attract investment and make New York the world’s leading crypto hub. New York City Aims to Become Global Crypto Capital with New Digital Advisory Council New York City Mayor Eric Adams is pushing forward with his long-standing digital asset agenda, announcing on Monday the formation of a new Digital Advisory Council aimed at establishing the city as the “crypto capital of the globe.” Speaking at the inaugural New York City Crypto Summit on May 20, Adams emphasized the importance of integrating blockchain technology into civic life, not as a passing trend, but as a foundational shift for New York’s digital future. While specific details remain under wraps, Adams said the council would be composed of local experts and fintech leaders, with a council chair and formal policy recommendations expected in the coming weeks. Mayor Adams made it clear that this initiative is about more than branding. He envisions blockchain technology playing a direct role in city governance and public services. One of the proposals under consideration is enabling New Yorkers to pay for certain municipal services and taxes using cryptocurrencies, a move that would align the city with broader state-level legislative efforts already underway. Adams also floated the idea of using blockchain to safeguard sensitive documentation, such as birth and death certificates, in a secure yet accessible format. This latest push follows a May 12 announcement that financial services company Figure and private equity firms Traction and Scale would assist in the city’s broader blockchain adoption efforts. These firms bring fintech, tokenization, and asset management experience to the table, suggesting the advisory council may focus on more than just payments and records. It may also evaluate tokenized infrastructure, digital identity, and blockchain-based capital formation strategies. The mayor’s commitment to crypto and Web3 initiatives isn’t new. Since taking office in January 2022, Adams has consistently promoted the city’s adoption of digital assets—famously opting to receive his first three paychecks in Bitcoin as a gesture of support. State-Level Momentum but Limited Progress While Adams takes the initiative on the city level, several New York State legislators have also attempted to advance digital asset policy statewide. In April, Assemblyman Clyde Vanel introduced a bill allowing state agencies to accept crypto payments. Earlier, in February, State Senator James Sanders Jr. proposed the Blockchain Study Act, aimed at forming a task force to assess the state’s blockchain landscape. However, both bills remain in legislative limbo and have yet to advance through either the state Senate or Assembly. These developments come amid a broader trend of US states positioning themselves for the crypto economy. At least 18 states are considering proposals to establish strategic Bitcoin reserves, and New Hampshire and Arizona have already passed related legislation, according to data from Bitcoin Reserve Monitor. States pushing for Bitcoin reserves (Source: Bitcoin Reserve Monitor ) Mayor Adams' commitment to crypto faced scrutiny after he was indicted on corruption charges tied to alleged illegal campaign contributions from the Turkish government. However, in a surprising turn of events, the US Justice Department directed local authorities to drop the charges, and the case was formally dismissed with prejudice on April 2. Despite the controversy, Adams has used the clearing of his name as a springboard to reassert his policy platform, which he says is centered on economic inclusion, technological equity, and digital transformation. Crypto Summit Marks Turning Point The New York City Crypto Summit, where Adams made his announcement, marks the city’s most formal step toward integrating the crypto industry into its public and economic systems. The summit included representatives from fintech startups, blockchain developers, venture capital firms, and policymakers, signaling a concerted effort to position the city competitively against other global crypto hubs like Dubai, Singapore, and London. With new collaborations, a policy council in motion, and continued legislative efforts at the state level, New York City is setting the stage to reclaim its tech dominance. The crypto industry, long skeptical of New York’s historically strict regulations, may find renewed optimism in Adams’ approach, which blends regulatory realism with a pro-innovation stance. The next steps include finalizing the Digital Advisory Council’s structure and releasing policy recommendations—expected before the end of Q2 2025. In parallel, pilot programs for blockchain-based document security and crypto tax payment systems are reportedly under internal review. Whether these plans will translate into meaningful infrastructure, and actual adoption, remains to be seen. But one thing is clear: New York is back in the conversation, and this time, it’s speaking the language of tokenization. New SEC Chair Paul Atkins Pledges Crypto Reform as GENIUS Act Gains Momentum In related news, US Securities and Exchange Commission (SEC) Chair Paul Atkins appeared before lawmakers on May 20 in a highly anticipated congressional oversight hearing, making his position clear: the future of digital asset regulation will be one of his top priorities. Testifying before the House Appropriations Committee, Atkins addressed a slew of questions ranging from regulatory funding transparency to interagency collaboration. While measured in tone, his remarks confirmed that the SEC is preparing to pivot away from the enforcement-heavy stance of past leadership and toward a more structured, collaborative framework for regulating cryptocurrencies, stablecoins, and decentralized finance (DeFi). Paul Atkins at a May 20 SEC oversight hearing (Source: House Appropriations Committee ) A New Tone at the Top Atkins’ appointment in April, under the nomination of President Donald Trump, was widely seen as a turning point for US digital asset regulation. A former SEC commissioner himself, Atkins brings both institutional credibility and industry-friendly leanings to the role. His early actions have signaled an effort to realign the SEC’s approach to crypto with market realities and innovation imperatives. This hearing marked his first major public appearance since assuming the role and came just a day after the US Senate moved forward on a vote to consider the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act)—a landmark piece of legislation that could redefine stablecoin oversight. Lawmakers pressed Atkins on the status of the SEC’s Crypto Task Force, helmed by Commissioner Hester Peirce, and sought specifics on its budget, timeline, and objectives. Representative Chuck Edwards (R-NC) asked directly how much funding had been allocated to the task force, a question Atkins declined to answer directly, saying only that the findings were “still under development.” Though vague on numbers, Atkins confirmed the task force’s first formal report is expected within the coming months. This report, he hinted, will lay the groundwork for clearer guidance on token classification, disclosures, custody frameworks, and potentially even DeFi-specific protocols. Upcoming June Roundtable Signals DeFi Focus The SEC is also organizing a series of roundtable discussions with commissioners and private sector leaders, the next of which is scheduled for June 9 and will focus specifically on decentralized finance (DeFi). These forums are expected to influence the Commission’s internal rulemaking discussions and could set the stage for tailored regulation that distinguishes DeFi from centralized crypto platforms. Sources close to the SEC suggest that these roundtables are part of a broader strategy to rehabilitate the agency’s relationship with the digital asset sector, which has long criticized the SEC for pursuing regulation through enforcement rather than engagement. Atkins' remarks coincided with major movement in the US Senate on the GENIUS Act, which aims to create a national framework for stablecoin issuance, reserve audits, and regulatory jurisdiction. Under the act, stablecoin oversight would be clarified and shared between the SEC and the Commodity Futures Trading Commission (CFTC), with the Federal Reserve overseeing reserve asset integrity. The bill is part of a wave of crypto-related legislation currently under discussion in Congress, including proposals for tax deferrals on digital asset transactions, definitions for decentralized autonomous organizations (DAOs), and digital identity protection using blockchain technology. Atkins signaled alignment with the GENIUS Act's objectives, suggesting the SEC would welcome legislative clarity that delineates its role in overseeing specific digital asset classes, particularly stablecoins and security tokens. From SEC Limbo to Regulatory Momentum Atkins’ prior statements have been critical of the regulatory vacuum that the crypto market has found itself in under past administrations. Now, with increasing alignment between legislative efforts and SEC reform, the prospect of a more stable and transparent regulatory framework for US crypto markets is closer than ever. Industry groups including the Blockchain Association, Coin Center, and Crypto Council for Innovation have cautiously welcomed Atkins' leadership, noting his willingness to engage constructively with both innovators and lawmakers.

21 May 2025, 11:19

Yield-bearing stablecoins surge to $11B, now 4.5% of market: Report

Yield-bearing stablecoins have soared to $11 billion in circulation, representing 4.5% of the total stablecoin market — a steep climb from just $1.5 billion and a 1% market share at the start of 2024. One of the biggest winners of this trend is Pendle, a decentralized protocol that enables users to lock in fixed yields or speculate on variable interest rates. Pendle now accounts for 30% of all yield-bearing stablecoin total value locked (TVL), roughly $3 billion, the firm said in a report shared with Cointelegraph. Pendle noted that stablecoins make up 83% of its $4 billion total value locked, a sharp rise from less than 20% just a year ago. In contrast, assets such as Ether ( ETH ), which historically contributed 80–90% of Pendle’s TVL, have shrunk to less than 10% of its TVL. Traditional stablecoins like USDt ( USDT ) and USDC ( USDC ) do not pass on interest to holders. With over $200 billion in circulation and US Federal Reserve interest rates at 4.3%, Pendle estimated that stablecoin holders are missing out on over $9 billion in annual yield. Pendle TVL share by assets. Source: Pendle Related: How to Use tsUSDe on TON for Passive dollar Yield in 2025 Growing regulatory clarity benefits stablecoins The rise in yield-bearing stablecoins comes amid growing regulatory clarity under the US President Donal Trump’s administration. In February, the US Securities and Exchange Commission approved yield-bearing stablecoins as “certificates” subject to securities regulation rather than banning them outright. The approval allows yield-bearing stablecoins to operate under specific rules, including registration, disclosure requirements and investor protections. Moreover, proposed bills like the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) and the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) further signal a favorable direction. Meanwhile, Pendle said it expects stablecoin issuance to double to $500 billion in the next 18 to 24 months. The firm also anticipates yield-bearing stablecoins to capture 15% of this market with $75 billion in issuance (7x growth from $11 billion). Yield-bearing stablecoins issuance. Source: Pendle Related: PayPal to offer 3.7% yield on stablecoin balances: Report Pendle shifts focus to yield market Initially focused on airdrop farming, Pendle has shifted toward serving as an infrastructure layer for decentralized finance yield markets. Ethena’s USDe stablecoin currently accounts for approximately 75% of Pendle’s stablecoin TVL. However, newer entrants such as Open Eden, Reserve and Falcon have increased the share of non-USDe assets from 1% to 26% over the past year. Pendle is also expanding beyond Ethereum, with plans to support networks like Solana and to integrate with Aave and Ethena’s upcoming Converge blockchain. Notably, interest in yield-generating strategies within the cryptocurrency sector has surged in recent years, driven by both retail and institutional investors seeking to maximize returns on their digital assets. On May 19, Franklin, a hybrid cash and crypto payroll provider, announced the launch of Payroll Treasury Yield , which uses blockchain lending protocols to help firms earn returns on payroll funds. Magazine: NBA star Tristan Thompson misses $32B in Bitcoin by taking $82M contract in cash

21 May 2025, 11:19

Russia Prepares New Bill for Bitcoin (BTC) and Altcoins! Here Are the Details…

Russia is making new regulations, approaching Bitcoin (BTC) and cryptocurrencies in the face of sanctions imposed after the invasion of Ukraine. Russia's Justice Ministry has prepared a draft law that would classify Bitcoin and cryptocurrencies as property subject to seizure, local news agency Tass reported. This bill facilitates the seizure and subsequent confiscation of cryptocurrencies like Bitcoin and classifies them as property. The draft law was first introduced by Russian Deputy Justice Minister Vadim Fedorov, who attended the St. Petersburg International Law Forum (SPILF). Fedorov explained that this bill will determine the necessary procedures and considerations to facilitate and accelerate the confiscation of BTC and cryptocurrencies. “The Department of Justice has prepared a bill that would classify digital currencies as property for purposes of seizure and subsequent forfeiture. This bill will speed up the seizure and confiscation of digital assets. Because digital assets cannot be physically seized and placed in a safe, as is the case with cash and valuables. This made their transactions difficult.” *This is not investment advice. Continue Reading: Russia Prepares New Bill for Bitcoin (BTC) and Altcoins! Here Are the Details…

21 May 2025, 11:17

Top Trader Sets Timeline For XRP to Hit $11

Cobb (@Cobb_XRPL), a popular crypto influencer on X, recently expressed strong confidence in XRP’s trajectory, forecasting a price target of over $11 by the end of 2025. Calling current conditions “absolute serendipity,” Cobb suggested that multiple favorable factors aligning for the digital asset, creating what he believes is the ideal environment for a sustained move upward. I have never been more bullish on XRP Everything is LITERALLY coming together perfectly, in absolute serendipity $11+ 2025 end of year — Cobb (@Cobb_XRPL) May 20, 2025 Community Reaction Reflects Growing Confidence This view is gaining support among XRP holders and observers, many of whom agree that the asset is approaching a critical juncture. One community member emphasized the potential of widespread adoption, noting that traditional four-year crypto market cycles may become less relevant as the digital asset grows. The same individual pointed out that future price movements might not see deep drawdowns of 90% like previous cycles. This suggests a more resilient and mature phase for the asset, expecting passive growth from its current price of $2.35. Another supporter echoed the sentiment by stating XRP should “already be $100 minimum,” while others characterized Cobb’s prediction as reasonable. These reactions highlight a growing conviction within the community that XRP may be undervalued relative to its long-term potential. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Bullish Developments Surrounding XRP Several recent developments lend credibility to this optimistic outlook. One of the most significant is the introduction of XRP futures by the CME Group, a leading global derivatives marketplace. This move provides institutional investors with a regulated avenue to gain exposure to XRP, potentially increasing market liquidity and legitimacy. It also signals that large financial institutions are beginning to view XRP as a serious asset class worthy of attention. In addition, there are currently over 11 pending applications for XRP exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC). The approval of even one of these could represent a major milestone for XRP, making it more accessible to retail and institutional investors. ETFs attract significant capital inflows and can influence public perception by signaling regulatory confidence. Another critical factor is the recent progress in Ripple’s legal battle with the SEC. The agency has agreed to dismiss its lawsuit against Ripple, and both parties are actively working toward finalizing this resolution . The conclusion of this long-running case would remove a significant source of uncertainty for XRP and could open the door to broader adoption and integration into financial systems. 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 Top Trader Sets Timeline For XRP to Hit $11 appeared first on Times Tabloid .

21 May 2025, 11:15

Crypto Daybook Americas: Bitcoin Eyes New High as MetaPlanet Mania Builds

By James Van Straten (All times ET unless indicated otherwise) Bitcoin (BTC) bulls still seem to be in control. The largest cryptocurrency posted a record-high daily close on Tuesday, at $106,830, as it extends its strong upward momentum with minimal pullbacks, putting the previous all-time high of just over $109,000 from Jan. 20 well within reach. This price action has significantly boosted bitcoin-leveraged equities, with Japan’s MetaPlanet (3350) standing out—its stock has surged 160% in 2025 alone. Strategy (MSTR), the poster boy for bitcoin buying, has added 44%. MetaPlanet has repeatedly hit Japan’s daily limit-up threshold within minutes of market open, effectively freezing upward trading for the day and fueling what resembles a slow-motion short squeeze. Speculation around MetaPlanet’s aggressive bitcoin accumulation, as indicated by metrics like Days to Cover mNAV , is driving investor frenzy. Still, CEO Simon Gerovich recently posted on X that MetaPlanet is now the most shorted stock in Japan, with 25% of outstanding shares held short. Meanwhile, macroeconomic conditions add to the complexity. Japanese bond yields are spiking, with the 30-year yield climbing above 3.1% and the 10-year surpassing 1.5% — the highest since 2008. In the U.K., inflation unexpectedly climbed to a 15-month high , pushing the 10-year gilt yield toward the critical 5% level. With bitcoin nearing new highs amid rising global yields and persistent inflationary pressures, markets are entering a phase of heightened volatility that demands keen attention. Stay alert! What to Watch Crypto May 22: Bitcoin Pizza Day . May 22: Top 220 TRUMP token holders will attend a gala dinner hosted by President Trump at the Trump National Golf Club in Washington. May 30: The second round of FTX repayments starts. Macro Day 2 of 3: Canadian Finance Minister François-Philippe Champagne and Bank of Canada Governor Tiff Macklem will co-host the three-day meeting of G7 finance ministers and central bank governors in Banff, Alberta. May 21, 8 a.m.: Mexico’s National Institute of Statistics and Geography releases retail sales data. Retail Sales MoM Est. 0.1% vs. Prev. 0.2% Retail Sales YoY Est. 2.2% vs. Prev. -1.1% May 22, 8 a.m.: Mexico's National Institute of Statistics and Geography releases (final) Q1 GDP growth data. GDP Growth Rate QoQ Est. 0.2% vs. Prev. -0.6% GDP Growth Rate YoY Est. 0.8% vs. Prev. 0.5% May 22, 8:30 a.m.: Statistics Canada releases April producer price inflation data. PPI MoM Est. -0.5% vs. Prev. 0.5%. PPI YoY Prev. 4.7%. May 22, 8:30 a.m.: The U.S. Department of Labor releases unemployment insurance data for the week ended May 17. Initial Jobless Claims Est. 230K vs. Prev. 229K Earnings (Estimates based on FactSet data) May 28: NVIDIA (NVDA), post-market, $0.88 Token Events Governance votes & calls Arbitrum DAO is voting on launching “The Watchdog,” a 400,000-ARB bounty program to reward community sleuths for uncovering misuse of the hundreds of millions in grants, incentives and service budgets the DAO has deployed. Voting ends May 23. Arbitrum DAO is voting on a constitutional AIP to upgrade Arbitrum One and Arbitrum Nova to ArbOS 40, “Callisto.” bringing them in line with Ethereum’s May 7 Pectra upgrade . The proposal schedules activation for June 17, and voting ends May 29. May 21, 11 a.m: Maple to host an X spaces session to “unveil the next chapter of Maple.” May 22: Official Trump to announce its “next Era” at the day of the dinner for the largest token holders. June 10: Ether.fi to host an analyst call followed by a Q&A session. Unlocks May 31: Optimism (OP) to unlock 1.89% of its circulating supply worth $22.58 million. June 1: Sui (SUI) to unlock 1.32% of its circulating supply worth $169.38 million. June 1: ZetaChain (ZETA) to unlock 5.34% of its circulating supply worth $11.33 million. June 12: Ethena (ENA) to unlock 0.7% of its circulating supply worth $15.36 million. June 12: Aptos (APT) to unlock 1.79% of its circulating supply worth $57.91 million. Token Launches May 21: Mantra (OM) to be listed on Upbeat and the Crypto.com app. June 1: Staking rewards for staking ERC-20 OM on MANTRA Finance end . June 16: Advised deadline to unstake stMATIC as part of Lido on Polygon’s sunsetting process ends. Conferences Day 3 of 7: Dutch Blockchain Week (Amsterdam) Day 2 of 3: Avalanche Summit London Day 2 of 3: Seamless Middle East Fintech 2025 (Dubai) Day 1 of 2: Crypto Expo Dubai Day 1 of 2: Cryptoverse Conference (Warsaw) May 27-29: Bitcoin 2025 (Las Vegas) May 27-30: Web Summit Vancouver May 29: Stablecon (New York) May 29-30: Litecoin Summit 2025 (Las Vegas) May 29-June 1: Balkans Crypto 2025 (Tirana, Albania) June 2-7: SXSW London Token Talk By Shaurya Malwa and Oliver Knight Hailey Welch, aka “Hawk Tuah Girl,” is distancing herself from the failed HAWK memecoin she promoted in December 2024, despite initially calling it a compliant, fan-focused project. On her Talk Tuah podcast, Welch said she was questioned by the FBI, gave her phone to the SEC, and was “cleared” of wrongdoing, claiming she was an unwitting participant. Welch now says she didn’t understand crypto and felt “sick” that fans trusted her, contrasting her November 2024 enthusiasm, when she claimed to have “learned so much” about the token. HAWK, launched on Solana, reached a $491 million market cap before crashing below $100 million within hours. It’s now at $104,000, down 99% from its peak. Welch claimed user losses were $180,000, much lower than the estimated $1.2 million. Her figure excludes 10,149 token holders who never sold, per Solscan. Commentators criticized Welch for endorsing a project she didn’t understand, with YouTube comments highlighting her lack of accountability. Welch’s team previously stated the project was legally compliant with a Cayman foundation and that her tokens would vest over three years. Derivatives Positioning BTC CME futures open interest continues to rise, topping $17 billion for the first time since February. Meanwhile, growth in ETH open interest has stalled above $2 billion. However, the premium in ETH futures is slightly higher than BTC's. On offshore exchanges, perpetual funding rates continue to flash bullish with sub-10% readings. BCH, TON perpetual funding rates remain negative, suggesting a bias for shorts and potential for a short squeeze should the market move higher. In options, flows on OTC network Paradigm featured demand for calls, especially the $180K call expiring in September. Market Movements BTC is down 0.64% from 4 p.m. ET Tuesday at $106,257.16 (24hrs: +1.23%) ETH is up 0.42% at $2,525.16 (24hrs: +0.51%) CoinDesk 20 is down 0.27% at 2,268.01 (24hrs: +0.6%) Ether CESR Composite Staking Rate is down 1 bps at 3.03% BTC funding rate is at 0.0088% (9.6886% annualized) on Binance DXY is down 0.49% at 99.63 Gold is up 1% at $3,313.10/oz Silver is up 1.02% at $33.31/oz Nikkei 225 closed -0.61% at 37,298.98 Hang Seng closed +0.62% at 23,827.78 FTSE is down 0.15% at 8,768.01 Euro Stoxx 50 is down 0.45% at 5,430.16 DJIA closed on Tuesday -0.27% at 42,677.24 S&P 500 closed -0.39% at 5,940.46 Nasdaq closed -0.38% at 19,142.71 S&P/TSX Composite Index closed +0.32% at 26,055.6 S&P 40 Latin America closed -0.26% at 2,631.81 U.S. 10-year Treasury rate is up 5 bps at 4.54% E-mini S&P 500 futures are down 0.76% at 5,914.75 E-mini Nasdaq-100 futures are down 0.81% at 21,274.50 E-mini Dow Jones Industrial Average Index futures are down 0.76% at 42,447.00 Bitcoin Stats BTC Dominance: 64.01 (-0.15%) Ethereum to bitcoin ratio: 0.02378 (0.63%) Hashrate (seven-day moving average): 884 EH/s Hashprice (spot): $56.1 Total Fees: 7.42 BTC / $784,400 CME Futures Open Interest: 160,155 BTC priced in gold: 32.3 oz BTC vs gold market cap: 9.15% Technical Analysis BTC rose as high as $108,000 early today but struggled to maintain the momentum, with the hourly chart MACD histogram turning negative. Prices will likely consolidate for some time, allowing a positive reset of the MACD, following which the next leg higher could resume. Crypto Equities Strategy (MSTR): closed on Tuesday at $416.92 (+0.85%), down 0.58% at $414.50 in pre-market Coinbase Global (COIN): closed at $261.38 (-0.99%), down 0.67% at $259.64 Galaxy Digital Holdings (GLXY): closed at C$30.52 (-3.08%) MARA Holdings (MARA): closed at $16.19 (-0.8%), down 1.17% at $16 Riot Platforms (RIOT): closed at $8.93 (-0.45%), down 1.46% at $8.80 Core Scientific (CORZ): closed at $10.92 (+0.65%), down 2.2% at $10.68 CleanSpark (CLSK): closed at $9.7 (-1.42%), down 1.65% at $9.54 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $17.99 (-0.77%) Semler Scientific (SMLR): closed at $41.88 (-3.21%), up 2.63% at $42.98 Exodus Movement (EXOD): closed at $34.51 (+1.77%), down 1.45% at $34.01 ETF Flows Spot BTC ETFs: Daily net flow: $329.2 million Cumulative net flows: $42.75 billion Total BTC holdings ~ 1.19 million Spot ETH ETFs Daily net flow: $64.8 million Cumulative net flows: $2.61 billion Total ETH holdings ~ 3.47 million Source: Farside Investors Overnight Flows Chart of the Day Strategy (MSTR) has been accumulating bitcoin at a breakneck speed, maintaining the pace even during the March-April price swoon. "From GameStop to MetaPlanet to Strategy’s $60B stash, BTC is reshaping corporate finance. Discover how the '42/42 Plan' could become a blueprint for others," 21Shares said on X. While You Were Sleeping Bitcoin Sets Record Daily Close With $110K as the Next Level to Watch for BTC (CoinDesk): Bitcoin set a record high close on Tuesday at $106,830 as spot ETF inflows rose and bond-market turmoil fueled concerns over fiscal stability, which analysts say could benefit BTC and gold. SEC Charges Unicoin, Top Executives With $100M ‘Massive Securities Fraud’ (CoinDesk): The SEC alleged Unicoin misled investors by inflating property values, overstating sales claims — touting $3 billion when only $110 million was raised — and promoting rights certificates with exaggerated return promises. U.K. Inflation Jumps, Reinforcing Bank of England’s Caution (The Wall Street Journal): Annual inflation rose more than forecast to 3.5% in April on rising labor and energy costs. Projections suggest a gradual return to target by 2027. 'Days to Cover mNAV': The New Standard for Evaluating Bitcoin Equities (CoinDesk): This metric estimates how long a company would need to accumulate enough bitcoin to justify its market cap based on daily yield and net asset value multiple. Morgan Stanley Strategists Say Buy America Except the Dollar (Bloomberg): Morgan Stanley strategists expect 2026 Fed rate cuts to benefit U.S. stocks and Treasuries, while forecasting dollar weakness as growth and yield advantages over other economies shrink. IMF Urges U.S. to Curb Deficit as Trump Tax Cut Plan Stirs Debt Fears (Financial Times): The IMF’s first deputy managing director said U.S. fiscal policy should aim to lower the debt-to-GDP ratio and warned that trade uncertainty remains high despite recent tariff relief. In the Ether

21 May 2025, 11:10

Mayor Eric Adams Unveils Digital Advisory Council to Cement NYC’s Crypto Leadership

New York City Mayor Eric Adams has announced plans to form a digital advisory council aimed at attracting investment, creating tech jobs, and positioning the city as the “crypto capital of the globe.” The declaration came during his keynote speech at the first-ever New York City Crypto Summit on May 20. “This is not about chasing memes or trends,” Adams told attendees. “We want to use the technology of tomorrow to better serve New Yorkers today.” Emphasizing a long-term vision, he said the city must embrace innovations like blockchain and crypto to build a modern, equitable economy. Crypto Council to Guide NYC’s Digital Strategy Though specific names and functions of the advisory council have yet to be disclosed, Adams said a chairperson and initial policy recommendations will be announced in the coming weeks. The council will include experts from financial technology, blockchain, and public policy sectors, tasked with helping the city navigate and implement forward-thinking crypto strategies. Earlier this month, Adams also revealed that financial services firm Figure and private equity groups Traction and Scale will assist in shaping the city’s crypto roadmap. Among their goals: exploring crypto payments for municipal services and leveraging blockchain for secure management of sensitive documents such as birth and death records. “Bringing blockchain security capabilities to the city means that birth certificates and death records can remain private but accessible to New Yorkers and their next of kin,” Adams explained. “We want to bring jobs of the future to our city today.” Statewide Legislation Lags Behind City’s Vision While Adams pushes forward, state lawmakers are also working to catch up. In April, Assemblyman Clyde Vanel introduced a bill that would allow New York State agencies to accept crypto as payment . However, it has yet to reach the state’s full House or Senate for a vote. Meanwhile, the Blockchain Study Act—introduced by Senator James Sanders Jr. in February—seeks to form a state crypto task force. That bill too remains in early stages. Adams, who made digital assets a centerpiece of his mayoral campaign in 2022 and famously accepted his first three paychecks in Bitcoin, continues to advocate for integrating crypto into city governance. Although he faced a corruption investigation tied to alleged foreign donations, the case was dismissed with prejudice on April 2. Across the U.S., momentum is building. At least 18 states are considering legislation to create strategic Bitcoin reserves, with New Hampshire and Arizona already approving such measures . The post Mayor Eric Adams Unveils Digital Advisory Council to Cement NYC’s Crypto Leadership appeared first on TheCoinrise.com .