Good Morning,

Here's a quick preview of today’s content: Ripple shelled out millions in the last election, Bitcoin miner Bitdeer expands operations with massive capital injection, Ledger teaming up with the web3 brand that continues to break barriers, a full list of 72 crypto ETFs pending SEC approval, and much more

Happy Wednesday – today’s send is jam packed, Let’s dive in.

Market Snapshot

As of 4/22/2025. Data per CoinMarketCap.

  • Macro: Comments from Treasury Secretary Scott Bessent suggested a potential de-escalation in U.S.-China trade tensions, further bolstering investor confidence

  • Bitcoin's price climbed above $92,000 during the day, marking a significant rebound and a +20% increase from its April lows

    • Bitcoin ETFs record $381M in inflows, the highest since January (BM)

  • The S&P 500, Dow, and Nasdaq each rose by approximately +2.5% to +2.7%, recovering from yesterday’s big losses

Headline Roundup
The major headlines driving crypto markets

  • In a stunning reversal, President Donald Trump walks back tariffs and refuses to and says he has no intentions to fire Jerome Powell sending all markets in a green frenzy- all of Trump’s statements here

  • Cantor Fitzgerald, led by Brandon Lutnick’s son, is collaborating with SoftBank, Tether, and Bitfinex to launch a $3B bitcoin venture named 21 Capital (FT)

  • Tether, SoftBank, and Bitfinex look to back Howard Lutnick’s sons’ $3B venture with BTC investments valuing coin at $85K (FT)

  • Filings confirm Ripple was the second largest donor for Trump’s inauguration funding (CB)

  • US stocks erase Monday losses after Bessent calls China trade situation ‘unsustainable’ (BW)

  • New SEC chair Paul Atkins pledges rational and coherent crypto regulation approach – full statement here

  • Trump Media and Crypto.com are finalizing partnership to launch ‘Made in America’ ETFs (DT)

  • Unofficial Catholic meme coin Luce surges as bettors speculate on next pope (DE)

  • Coinbase confirms it is exploring a banking charter to expand financial services (CT)

  • Tesla reveals $951M in crypto holdings after massive earnings miss (CD)

  • Dutch bank ING reportedly working on stablecoin project with TradFi and crypto partners (CD)

  • YouTube group Nelk Boys push back against NFT-related lawsuit from Yuga Labs (DE)

  • Former SEC Chair Gary Gensler says crypto market is built on 99% sentiment (TV)

  • Bitcoin bounces above $90k for first time since early March (YF)

  • Small-cap stocks are adding Solana exposure (BW)

  • European Central Bank warns of continental financial instability with aggressive pro-crypto moves from Trump (CS)

  • Janover rebrands to DeFi Development Corp. as it adds $37M of SOL on Monday (DT)

  • Crypto is a long term investment strategy to more than ⅓ of wealthy Koreans (CN)

  • SoftBank Chain introduces a new web3 payment infrastructure tool, Interstellar (CT)

  • Galaxy Digital swaps $106M worth of ETH for SOL as Ether dominance hits record low (TB)

  • Nigeria is home to 4%+ of the worlds blockchain developers, marking an African hub (AB)

  • XRP leads modest global crypto fund weekly inflows of $6M amid 'signs of recovery' (TB)

  • Yuga Labs demands crypto wallet data from 40 influencers in NFT lawsuit (DE)

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Venture Capital

  • Bitcoin mining firm Bitdeer secures $60M of private loans to improve bitcoin ASIC manufacturing (CT)

  • Blockchain liquidity project Analog raises $15M from Bolts Capital through private token sale (CD)

  • Arch Labs hits $200M valuation with latest $13m Series A from Pantera Capital (PN)

  • BitradeX completes £12M Series A led by Bain Capital for AI-powered digital asset trading (BW)

  • AppWorks, Blockchain Capital, and 1kx lead $8M Series A for on-chain infrastructure startup Tally (BW)

  • Inflow announces a $1.1M pre-seed round from Rockstart, GnosisVC, Alliance DAO, and others (IP)

  • StakeStone, an omnichain liquidity infrastructure company, secures backing from Animoca Ventures (DF)

Launches

  • Ledger is teaming up with Pudgy Penguins for a limited edition wallet (LR)

Regulation

  • Rep. Velázquez introduces bill to close Puerto Rico crypto tax loophole (TB)

  • Australian court overturns ruling against Block Earner, orders regulator to pay legal fees (TB)

  • Oregon’s Attorney General claims XRP and 30 other tokens are unregistered securities in lawsuit (CT)

  • Multiple crypto firms look to obtain bank charters and licenses with pro-crypto regulation (NB)

Cybersecurity

  • A hacker exploited Ripple’s Ledger blockchain putting thousands of wallets at risk (DL)

  • Singapore High Court sets May 13 date for WazirX hack ruling (DT)

Extra Reads

Chart of the Day

Here’s the full list of 72 crypto ETFs pending SEC approval in 2025. Bullish?

Meme Dump

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