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‘Huge Shift’ in crypto firms’ compliance mindset, says Elliptic co-founder

The crypto industry has seen a significant shift toward regulatory compliance since its early days, according to James Smith, co-founder of Elliptic, a crypto compliance firm established in 2013.

“In the early days, only a few companies approached compliance in a serious way,” Smith told Cointelegraph at the Token2049 event. “Coinbase was our first customer — they knew from the start that they wanted to build their business that way. But for most others, it just wasn’t a major priority.”Elliptic co-founder James Smith at Token2049. Source: Cointelegraph

That began to shift as regulators, including those in New York State, took a more active interest in the crypto industry. The involvement of traditional financial institutions like Fidelity and DBS Bank also contributed, as they entered the space with established compliance expectations from traditional finance services.

Fidelity, for instance, offered its first crypto service for customers in 2019, while the Asian giant DBS <a data-ct-non-breakable="null"

'To have freedom of money, you have to have freedom of speech' — CZ

Binance co-founder and former CEO Changpeng “CZ” Zhao took the stage at Token2049 in Dubai, United Arab Emirates (UAE), where he told the audience that his investment in social media platform X was aimed at protecting freedom of speech.

The former Binance executive joined a fireside panel with macroeconomic analyst Raoul Pal to discuss the rationale behind his 2022 investment in X and artificial intelligence. Zhao said:

“I think freedom of money is important, but to have freedom of money, you have to have freedom of speech. Freedom of speech is kind of the bottom line. If you don’t have that, nothing — no other freedom — works.”

“So, when we invested in Twitter back then, it was based on that philosophy,” Zhao continued.

The former Binance CEO also criticized Europe’s crypto policies, characterizing them as dead in the water compared to more pro-business

Bitcoin rebounds from bearish US GDP data as dip buyers push BTC price back toward $95K

Key takeaways:

Bitcoin bulls are attacking the $95,000 level again after today’s brief US GDP-induced sell-off.

Traders are semi-agnostic to negative US economic data as they expect the Federal Reserve to resume easing and rate cuts at some point in the future.

Bitcoin (BTC) price knocks on the door of $95,000 after starting the NY trading session with a slight sell-off to $92,910 following alarm-raising US GDP data, which showed the economy shrank in Q1 2025. The move mirrors a similar recovery seen in the DOW and S&P 500, which bounced 0.35% and 0.15% respectively at the closing bell.

The quick recovery in Bitcoin price highlights the strong bid by a variety of market participants, and it lines up with the view that the April 30 GDP data could be a one-off event resulting from businesses ramping up their imports ahead of President

Bloomberg Intelligence boosts Solana ETF approval odds to 90%

Bloomberg Intelligence has boosted its estimated odds of US regulators approving a Solana exchange-traded fund (ETF) in 2025 to 90%, according to an April 30 post on the X platform.

The company also set more favorable chances of approval for other altcoin ETFs, including proposed funds holding XRP (XRP) and Dogecoin (DOGE), Bloomberg analyst Eric Balchunas said in an X post.

The estimates reflect an improved outlook from Bloomberg analysts. In a February analysis, Bloomberg pegged the odds of a Solana (SOL) ETF approval at only 70%. They ascribed a 65% and 75% chance of approval to funds holding XRP and DOGE, respectively.

As of April 30, six asset managers — including Grayscale, VanEck and 21Shares — are awaiting clearance from the US Securities and Exchange Commission

Coinbase files brief with US Supreme Court in support of taxpayers' privacy

US-based cryptocurrency exchange Coinbase has filed an amicus brief in the country’s Supreme Court in support of a taxpayer fighting the Internal Revenue Service (IRS) gaining access to his data from a digital asset platform.

In an April 30 filing in the Supreme Court of the United States (SCOTUS), lawyers for Coinbase argued that a First Circuit Court of Appeals decision set a “dangerous precedent” for crypto users, potentially allowing the government to “trace users’ every crypto transaction in the past and monitor every crypto transaction in the future.” The appeal to the Supreme Court stemmed from petitioner James Harper, a Coinbase user, who took legal action against the IRS after the crypto exchange was forced to turn over transaction data to the government using a sweeping “John Doe” summons in 2017.

“This case directly affects Coinbase’s interest in protecting the privacy rights of its users and

Stablecoins on track for $2T market cap by 2028 — US Treasury

US Dollar-pegged stablecoins are on track to reach an aggregate market capitalization of approximately $2 trillion by 2028, according to the United States Department of the Treasury’s Q1 2025 report.

Stablecoins’ cumulative market cap currently stands at roughly $230 billion, but “[e]volving market dynamics [have] the potential to accelerate stablecoins’ trajectory to reach ~$2tn in market cap by 2028,” the Treasury said in the April 30 report.

A stablecoin is a cryptocurrency whose value is pegged to a traditional asset like the US dollar. According to the report, such tokens are already “ubiquitously utilized as ‘cash on-chain,’ effectively serving as a new payment mechanism.”

Additionally, the emergence of “tokenized [money market funds] has recently created an alternative option to stablecoins, primarily given their yield-bearing feature,” the report reads.

Treasury on stablecoins’ impact. Source: US Treasury

Related: Stablecoins

3 Ethereum charts flash signal last seen in 2017 when ETH price rallied 25,000%

Key takeaways:

Ether price printed a rare monthly Dragonfly doji candlestick, which is often seen before major ETH bull market cycles.

ETH is retesting its long-term parabolic support zone that preceded its historic 2017 rally.

The MVRV Z-Score has entered the accumulation zone, signaling undervaluation.

Ethereum’s native token, Ether (ETH), is flashing a combination of technical and onchain signals once seen in the early stages of its 2017 bull run, a cycle that produced over 25,000% gains.

Dragonfly doji hints ETH bulls are regaining control

Ether is flashing a rare Dragonfly Doji candlestick on its monthly chart, the same structure that preceded its historic 25,000% rally during the 2017 bull cycle.

This pattern is confirmed when the price prints a long lower wick, little to no upper wick, and closes at or near its opening level.

On Ether’s monthly chart, the candlestick reflects a sharp intra-month rejection of

CZ aims to teach 1 billion kids through Giggle Academy — Token2049

Binance co-founder Changpeng “CZ” Zhao wants to provide free education for up to a billion children worldwide with his Giggle Academy venture, he told an audience at Token2049 in Dubai, United Arab Emirates (UAE).

“In a few years, I think, I want to teach 100 million or 1 billion kids for free,” Zhao told the audience. Giggle is a free online platform that provides elementary education through gamified lessons.

“With the technologies we have today, it’s not that hard to make an app that will stick, that’s educational, but also glues the kids to the device,” the crypto entrepreneur said.

Raoul Pal pictured (left) and Binance co-founder Changpeng Zhao (right) at the Token2049 conference in Dubai. Source: Cointelegraph

Giggle’s concept paper outlines the project’s goal of providing K-12 education globally for free by offering non-traditional educational courses in topics such as negotiations, finance, entrepreneurship, sales, legal, accounting, blockchain, and

Bitcoin ‘aging’ chart projects sixfold BTC price rally above $350K

Key takeaways:

Bitcoin’s price increased by sixfold each time its age increased by 40%.

If the pattern holds, Bitcoin could rally to $351,046 in 2025.

New data highlights a historical pattern that results in Bitcoin (BTC) price increasing by sixfold. Using a logarithmic chart to illustrate the trend from 2011, the model projects BTC price to hit $351,046 in 2025.

According to 21st Capital co-founder Sina, the study plots Bitcoin’s price on a log-log graph, showing a linear relationship that reflects predictable long-term growth driven by network dynamics, a behavior characteristic associated with BTC’s limited supply.

Bitcoin 40% age increase-price rise comparison chart. Source: X.com

The math behind the price target relies on Bitcoin’s age in years and a 6x price multiplier per 40% age increase. For instance, from age 8.83 years in 2017 ($19,666 peak) to age 12.83 years in 2021 ($68,000 peak), the age grew by 45%, but

Tether plans US stablecoin launch as soon as this year — CNBC

Tether plans to launch a stablecoin product in the United States as soon as this year, the stablecoin issuer’s CEO, Paul Ardoino, said in an April 30 CNBC interview.

Tether’s flagship stablecoin, USDT (USDT), is already the US dollar’s top “exporter,” Ardoino told CNBC. It has a market capitalization of nearly $150 billion, according to data from CoinGecko.

Now, Tether is preparing to expand into the US market “by the end of this year or early next year, at the fastest,” Ardoino said, adding that the timing depends on US lawmakers’ progress on stablecoin legislation.

The stablecoin issuer is working to woo US regulators by proactively collaborating with law enforcement and highlighting USDT’s benefits for the US economy.

“We are just exporters of what we believe to be the best product the United States ever