Good Morning,

Here's a quick preview of today’s content: Citgroup has a massive prediction for stablecoins, crypto reporting requirements just changed in a big way for banks, multiple crypto ETF decisions delayed, Juventus gets deeper backing from Tether, A father worked with his son on a 8-figure crypto scam, and Satoshi is getting a statue, and more

Friday’s are for markets pumping. Let’s dive in.

Market Snapshot

As of 4/24/2025. Data per CoinMarketCap.

  • Bitcoin traded above $93,000 as traders showed optimism for short-term gains

    • Call options suggest traders expect Bitcoin to surpass $95,000 by late April or May

    • Sui Network's SUI saw a weekly gain of over 62%, with its TVL exceeding $1.6B

  • President Trump indicated that tariffs on Chinese imports would "come down" but "won’t be zero”

    • Reports suggest that tariffs could be reduced to around 50% to 65%, less than half of the current levels

Headline Roundup
The major headlines driving crypto markets

  • Citigroup predicts stablecoin supply could hit $3.7 trillion by 2030 (TB)

  • U.S. Federal Reserve removes reporting requirements for banks engaging in crypto activities – read the landmark decision here

  • SEC delays decision on Hedera and Polkadot ETFs until June (TB)

  • 19,500 Ethereum RTFKT CloneX NFTs disappear due to terms of service violation from Cloudflare – see the crazy story here

  • AT&T subscribers will now 'automatically connect' to nearby Helium hotspots through new commercial agreement (TB)

  • Saylor predicts BlackRock's $IBIT will buy $600B in Bitcoin to become the largest ETF in 10 years (TD)

  • Ark Invest raises 2030 bull-case bitcoin price projection to $2.4M on 'aggressive' modeling (TB)

  • MoonPay co-founder joins TON Foundation as CEO amid growth plateau (TB)

  • Former Celsius CEO Alex Mashinsky is set to be sentenced on May 8, 2025, after pleading guilty to fraud and price manipulation charges last year (BK)

  • Stablecoin markets could reach $3.7T opportunity according to Citigroup estimate (TB)

  • House Representatives are in the final stages of drafting a crypto market structure bill for the second time (BW)

  • PayPal and Coinbase deepen partnership with stablecoin announcement (CS)

  • NBA personality Shaquille O’Neal reaches settlement with FTX after ‘running from case’ (DT)

  • Tether increases its stake in Juventus Football Club to 10.21% causing club token to surge (CS)

  • ruya becomes first Islamic bank to offer Bitcoin and virtual asset investments (BM)

  • Satoshi Nakamoto to receive dedicated statue in Italian city (CT)

  • Crypto advocates in Switzerland urge central bank to consider a national bitcoin reserve (CS)

  • 'Peaky Blinders' TV show is getting a crypto game in 2026 (DC)

  • Coinbase is expanding to Charlotte, North Carolina and hiring up to 130 local employees with another physical office (TB)

Venture Capital

  • RockawayX closes $125M early stage fund for projects on Solana (DT)

  • Securitize launches institutional crypto index fund with $400M backing from Mantle VC (CC)

  • Alpaca announces $52M Series C funding to expand brokerage infrastructure and broker product lines (AM)

  • Crypto trading infrastructure startup, Theo, has raised a $20M round co-led by Hack VC and Anthos Capital (CD)

  • Catalysis web3 infrastructure startup raises $1.25M pre-seed round led by Hashed Emergent (PA)

  • Hack VC leads Series A for Hyperlane to improve cross-chain interoperability (HV)

Launches

  • CME Group to introduce regulated XRP futures in May (UT)

  • Ether.fi is launching the first DeFi bank, a decentralized and non-custodial alternative to traditional banks (BW)

Regulation

  • El Salvador and the U.S. discuss regulatory sandbox for tokenized assets (DT)

  • Bitcoin reserve bill heads to state Senate vote in New Hampshire (CT)

  • SEC Crypto Task Force and Trump-supporting firms meet to discuss crypto regulation (CT)

Cybersecurity

  • A man sentenced to 18 years after orchestrating a $12M crypto scam with his son (TB)

  • Almost $6B lost to crypto investment scams in 2024 per the FBI (LG)

  • ZKsync hacker accepts 10% bounty and returns $5M (DT)

  • Hackers exploit Zoom’s remote-control feature to steal $100k+ of crypto (HR)

  • FBI reported U.S. citizens lost over $16B in 2024 with the elderly losing nearly $3B to crypto scams (CS)

Extra Reads

Chart of the Day

Google searches for Real World Asset tokenization have nearly doubled year-over-year while the search for memecoins has died off

Meme Dump

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