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Raydium’s RAY Jumps 13% as DEX Reveals Own Token Issuance Platform
Solana-based decentralized exchange Raydium is launching its own token issuance platform, LaunchLab, to increase revenues and user base. Raydium’s native RAY tokens have seen a 13% increase in the past 24 hours, outperforming the broader market. LaunchLab will offer three types of bonding curves for token pricing and allow third-party UIs to set their fees.
Strategy Plans $500mn Preferred Stock Deal to Buy Bitcoin
Strategy plans to sell $500 million of dollar-denominated perpetual preferred stock. The enterprise software company, formerly known as MicroStrategy, intends to use proceeds for general corporate purposes, including the acquisition of Bitcoin and for working capital. It aims to price the offering later this week after a roadshow consisting of small one-on-one meetings Tuesday and Wednesday. The deal will carry a fixed dividend rate of 10% per annum. Morgan Stanley, Barclays Plc, Citigroup Inc., and Moelis & Co. are acting as bookrunners for the offering. It will not be rated. This issuance follows Strategy’s recent purchase of $10.7 million worth of Bitcoin. It plans to issue up to $21 billion of preferred stock to acquire more of the cryptocurrency.
North Dakota Senate Passes Crypto ATM Bill to Create Licensing Regime
North Dakota is nearing the establishment of a licensing system for crypto ATMs following the Senate’s approval of a bill that outlines regulations for the sector. The bill, House Bill 1447, requires crypto ATM operators to issue fraud warnings, obtain money transmitter licenses, use blockchain analytics software for fraud detection, submit quarterly reports, and appoint a compliance officer. This comes amid rising concerns over crypto ATM scams, with FTC data showing a nearly tenfold increase in Bitcoin ATM scam losses since 2020 and a report by TRM Labs revealing that crypto ATMs have facilitated at least $160 million in illicit transactions since 2019.
Minnesota Senator Proposes Bitcoin Act After Going From Skeptic To Believer
Minnesota state Senator Jeremy Miller has introduced the Minnesota Bitcoin Act, which he drafted after completely changing his stance on Bitcoin. Miller said the bill aims to “promote prosperity” for Minnesotans by allowing the Minnesota State Board of Investment to invest state assets in Bitcoin and other cryptocurrencies, just as it invests in traditional assets. Several other US states have introduced similar Bitcoin-buying bills, with 23 states having introduced legislation to create a Bitcoin reserve, according to Bitcoin Laws.
Coinbase Launches Verified Liquidity Pools for Secure On-Chain Trading
Coinbase has launched Verified Pools, a new service offering institutional-grade liquidity on its Base Layer-2 blockchain. These pools are designed to address institutional concerns like counterparty risk and regulatory compliance by implementing strict identity verification (KYC and sanctions screening) for participants. Verified Pools are non-custodial, meaning users retain full control of their assets while benefiting from high liquidity, improved transaction efficiency, and reduced costs. By leveraging Coinbase’s Base L2 blockchain, the service ensures secure, transparent, and efficient on-chain trading. This initiative aims to attract financial institutions and large-scale traders, bridging traditional finance with the decentralized economy. Coinbase plans to expand the service by supporting more assets, integrating DEX aggregators, and extending access to international markets.
Ethereum Developers To End Support for Holesky Testnet in September
Ethereum core developers plan to end support for the Holesky testnet in September 2025, transitioning its role before its eventual deprecation. Holesky, launched in September 2023, has been a key testnet for staking and protocol development but faced issues during the Pectra upgrade testing. Validator exits remain slow, making it impractical for some testing scenarios. A new testnet, Hoodi, has been introduced to activate the Pectra upgrade on March 26, and developers have advised staking operators to use Hoodi for validator testing. Holesky will remain operational for short-term use, possibly for stress tests and experiments.
Stablecoin Users Grew 53% in One Year
A joint report by Artemis and Dune revealed a 53% year-on-year increase in active stablecoin wallets, growing from 19.6 million in February 2024 to 30 million in February 2025. This growth suggests increased user engagement and highlights stablecoins’ role as a bridge between traditional finance and crypto. The report also noted that stablecoins are being more widely used in payments, DeFi, and institutional adoption. Additionally, the total supply of stablecoins grew by 63%, from $138 billion in February 2024 to $225 billion in February 2025. Monthly transfer volume also saw significant growth, rising from $1.9 trillion to $4.1 trillion, a 115% increase. The highest volume was recorded in December 2024 at $5.1 trillion, although it declined in 2025. Despite explosive growth in other metrics, the average transfer size showed minimal change, moving from $676,000 to $683,000, with occasional spikes indicating increased institutional activity. The report highlights the widespread adoption of stablecoins across retail and institutional transactions.
Acting SEC Chairman Mark Uyeda Proposes Withdrawal of Crypto Custody Rule
The SEC’s acting chairman, Mark Uyeda, has ordered staff to revisit the 2023 crypto custody rule, which requires registered investment advisers to use a “qualified custodian” for any crypto purchased for clients. The rule, criticized by the crypto industry, was seen as overly restrictive, with concerns that it would hinder crypto investment. Uyeda acknowledged the challenges of proceeding with the rule and suggested considering alternatives, including withdrawal. He had previously criticized the proposal, questioning how advisers could comply while investing in crypto. The SEC’s stance reflects a more pro-crypto approach, with recent withdrawals of lawsuits and regulations under the Trump administration.
North Carolina Eyes Bitcoin as Strategic Reserve Asset in New Senate Bill
North Carolina has introduced Senate Bill, aiming to establish a state Bitcoin reserve by allocating up to 10% of public funds to Bitcoin. The bill, proposed by Republican Senators Todd Johnson, Brad Overcash, and Timothy Moffitt, positions Bitcoin investment as part of a financial strategy to strengthen the state’s economy. It mandates that Bitcoin be stored securely in multi-signature cold storage, subject to monthly audits, and can only be liquidated in cases of a “severe financial crisis” with approval from two-thirds of the General Assembly. The bill also suggests creating a Bitcoin Economic Advisory Board and exploring Bitcoin mining to increase holdings. This move is part of broader efforts in the state to integrate crypto into policy, alongside House Bill 92, which would allow investment in Bitcoin exchange-traded products (ETPs). Other states, such as Arizona and Texas, are also pursuing similar Bitcoin reserve initiatives.
EOS Experiences 25% Spike Following Vaulta Rebranding Announcement
EOS Network has announced it will rebrand to Vaulta as part of a strategic shift toward Web3 banking. This includes a new token ticker and a swap portal expected by May 2025. The rebranding aims to bridge decentralized technologies with traditional financial systems, creating a secure and scalable Web3 banking ecosystem. Yves La Rose, the CEO, emphasized that Vaulta represents a significant step in providing accessible financial services globally. As part of the transformation, Vaulta will establish a Banking Advisory Council to advise on integrating Web3 with traditional finance, focusing on compliance and piloting opportunities. The council includes experts from both the banking and Web3 sectors.
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