A U.S. presidential candidate is excited about blockchain technology, suggesting that putting the U.S. budget on the blockchain could increase transparency and accountability. This proposal has garnered support from some in the cryptocurrency community.
Standard Chartered’s head of digital assets research remains optimistic about the market’s potential for recovery, predicting a Bitcoin price of $150,000 by the end of the year. However, some analysts doubt that Bitcoin’s halving will lead to a sustained bull run in the next year and a half.
The SEC has delayed its decision on a spot Ethereum ETF application, extending the review period to June 11. Despite heavyweights like BlackRock and Grayscale vying for approval, the chances of these ETFs being approved seem slim.
In other news, the founders of Samourai Wallet were arrested for allegedly laundering over $100 million, while Wasabi Wallet is blocking U.S. citizens from using its services. Phoenix Wallet will also stop operations for U.S. residents.
Legal battles continue in the crypto space, with Custodia Bank appealing a court decision denying its entry into the U.S. banking system, and the SEC suing a Bitcoin mining company for engaging in an unregistered securities offering.
The spot Bitcoin ETF sector saw a capital outflow of $217 million on April 25, while BNY Mellon’s exposure to BTC ETFs highlights growing institutional interest in cryptocurrencies. Ethereum co-creator Vitalik Buterin pointed out issues with the network’s proof of work design.
Movement Labs, a blockchain developer, raised $38 million in venture capital led by Polychain Capital, reflecting continued interest from VCs in the cryptocurrency sector. VC volume in the first quarter of the year reached around $2.5 billion.