Crypto Vesting

A Texas House Committee has passed a Republican-backed bill to create a Bitcoin reserve, which now only needs a successful full floor vote before heading to the governor’s desk.

The Texas House Committee on Delivery of Government Efficiency passed Senate Bill 21 with no amendments on May 7 in a 9-4 vote along party lines. The bill has already passed the Texas Senate, in a 25-5 vote on March 6.

SB 21 would establish the “Texas Strategic Bitcoin Reserve,” controlled by the state’s comptroller — currently Glenn Hegar — who would be permitted to invest in digital assets that have obtained a market cap of at least $500 billion over the last twelve months, which would currently only include Bitcoin (BTC).

Source: Pierre Rochard

Republican Senator Charles Schwertner

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Bitcoin has reclaimed $98,000 for the first time in almost three months after the US Federal Reserve said it would keep interest rates the same for another month.

The Fed’s decision to keep interest rates unchanged comes despite mounting pressure from US President Donald Trump, who just weeks ago threatened to fire Fed chair Jerome Powell for being “too late” in cutting rates.

Fed cites higher unemployment, inflation risk

Powell said on May 7 that the Federal Reserve rate-setting committee held rates in the 4.25% to 4.50% range due to the rising risks of higher unemployment and higher inflation.

He added inflation has “come down a great deal but has been running above our 2% longer objective.” Powell said surveys in households and businesses showed a “sharp decline in sentiment” mainly due to concerns over Trump’s trade policy.

However, Powell said that “despite heightened uncertainty,

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Nasdaq-listed Bitcoin mining firm Core Scientific Inc. posted a net profit of $580 million with its first quarter results, but missed analyst revenue estimates after a drop in its mining profits.

Core Scientific’s Q1 2025 results, shared on May 7, saw it more than double its $210 million net income from the year-ago quarter, while its total revenue reached $79.5 million, missing Zacks analysts’ estimates by 8.11%, and falling from its $179.3 million in revenues for Q1 2024. 

The firm’s primary source of revenue came from $67.2 million in self-mining revenue, $3.8 million in hosted mining revenue, and $8.6 million in colocation, formerly listed as high-performance computing (HPC) hosting.

Source: Core Scientific

Core Scientific said its drop in Bitcoin (BTC) mined and revenue was due to the halving on

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Arizona Governor Katie Hobbs has signed a bill into law allowing the US state to keep unclaimed crypto and establish a “Bitcoin Reserve Fund” that won’t use any taxpayer money or state funds.

Hobbs signed House Bill 2749 into law on May 7, which allows Arizona to claim ownership of abandoned digital assets if the owner fails to respond to communications within three years.

The state’s custodians can stake the crypto to earn rewards or receive airdrops, which can then be deposited into what Arizona has called a Bitcoin and Digital Asset Reserve Fund.

“This law ensures Arizona doesn’t leave value sitting on the table and puts us in a position to lead the country in how we secure, manage, and ultimately benefit from abandoned digital currency,” the bill’s sponsor, Jeff Weninger, said

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Binance founder and convicted felon Changpeng Zhao says that he applied for a pardon from US President Donald Trump shortly after denying reports that he was seeking one.

Zhao, also known as CZ, said on a Farokh Radio podcast episode aired May 6 that he “wouldn’t mind” a pardon and that his lawyers have already filed the paperwork on his behalf

“I got lawyers applying,” Zhao said, adding that he submitted the request after Bloomberg and The Wall Street Journal reported in March that he was seeking a pardon from Trump amid discussions of a business deal between the Trump family and Binance.US.

Zhao denied the reports at the time, but said on the podcast that he thought “if they’re writing this article, I may as well just officially apply.”

He added that Trump’s pardon of three BitMEX founders,

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Stripe, a global payments platform, has introduced stablecoin-based accounts to clients in over 100 countries.

According to a May 7 announcement, the new feature will allow the platform’s clients “to send, receive, and hold US-dollar stablecoin account balances, similar to how a traditional fiat bank account works.”

The product’s technical page shows that the new account feature will support Circle’s USDC (USDC) and Bridge’s USDB (USDB) stablecoins. Stripe acquired the Bridge platform in October 2024.

The product will be available to clients in more than 100 countries, including Argentina, Chilé, Turkey, Colombia, and Peru, among others.

Stripe’s newly launched product comes at a time when stablecoins are increasingly seen as stores of value in developing economies struggling with high inflation, capital controls, and a lack of financial infrastructure.

The stablecoin market cap has crossed $231 billion and continues to

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Brokerage fintech Robinhood is reportedly developing a blockchain network that will enable retail investors in Europe to trade US securities.

According to a May 7 Bloomberg report citing sources familiar with the matter, the move seeks to expand the company’s local presence by offering trading of tokenized securities, such as stocks.

Two crypto firms, Arbitrum and the Solana Foundation, are reportedly vying to become partners in the project. Tokenization is the process of turning real-world assets, like stocks, real estate, or commodities, into digital tokens that can be traded on a blockchain.

Tokenizing securities instead of providing direct exposure can offer several advantages: reduced costs by eliminating traditional financial infrastructure, enhanced accessibility, faster settlement times, and quicker transactions. More brokerages and investment firms are exploring asset tokenization.

Robinhood has been preparing to enter the European market. In April 2025, it acquired a brokerage license in Lithuania

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What to know:

Lyn Alden says a weaker dollar is necessary for the US to stabilize its financial system.

Bitcoin and gold are well-positioned to benefit from de-dollarization.

Sovereign wealth funds and various nations are already increasing their Bitcoin exposure as the dollar’s global dominance starts to wane.

The weakening of the US dollar (DXY) is no longer headline news. With mounting disruptions across the US economy, a declining greenback has become part of the backdrop. Since the start of 2025, the US Dollar Index has dropped 11%, now hovering around levels last seen in April 2022. Markets have largely responded with a shrug. After all, in times of deep restructuring, isn’t some dollar weakness to be expected?

The trouble is, this might not be a temporary dip. The dollar’s slide could reflect a deeper, long-term reconfiguration of both the US economy and the global monetary order. In a May 4 <a data-ct-non-breakable="null" href="https://x.com/LynAldenContact/status/1919117154386887162" rel="null"

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Braden John Karony, the former CEO of crypto firm SafeMoon, made an out-of-court statement claiming innocence as his criminal trial began in New York.

In a May 6 X post after court proceedings had likely ended for the day, Karony said he was innocent and “did not commit fraud” in response to media coverage of his trial. The former CEO, as well as SafeMoon creator Kyle Nagy and former chief technology officer Thomas Smith, were charged in 2023 for having allegedly “diverted and misappropriated millions of dollars’ worth” of the platform’s SFM token.

According to reporting from the US District Court for the Eastern District of New York (EDNY) on May 6, Karony implied that Nagy, who reportedly fled to Russia after authorities filed charges, was responsible for some of the alleged fraud at SafeMoon. On the first day of the trial,

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