May 2, 2025

Dogecoin, XRP ETF Hopes Are Fuelling Bullish Sentiment, Social Data Shows

Tags:AI bitcoin Crypto DOGE ETH memecoin solana US XRP

The excitement surrounding dogecoin (DOGE) and XRP-based exchange-traded funds (ETFs) is on the rise, as social data from Santiment indicates a shift in crowd sentiment in favor of both tokens. This...

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May 2, 2025

Crypto

Bitcoin Jumps Above $97K as Traders Optimistic U.S.-China Trade Deal Possible

Tags:ADA AI bitcoin btc China Crypto DOGE ETH Strategy Tariffs Trading US XRP

Bitcoin (BTC) is currently trading above $97,000 in the Asian markets as there is a sense of relief following reports that the U.S. and China are working towards a trade deal....

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May 2, 2025

Tech

Movement Labs Suspends Rushi Manche Amid Coinbase Delisting, Token-Dumping Scandal

Tags:Binance Coinbase US

Today, Movement Labs made an announcement regarding the suspension of co-founder Rushi Manche. This decision was made in light of Coinbase delisting the MOVE token after reports from Movement Labs revealed...

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May 1, 2025

Crypto / Regulation

U.S. Senate Moves Toward Action on Stablecoin Bill

Tags:AI Crypto Donald Trump Trump United St United States US

The U.S. Senate is gearing up to vote on legislation that would establish regulations for the issuers of stablecoins, marking a significant milestone as the chamber delves into the world of...

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May 1, 2025

Tech

Gold Continues Correcting and That Might Be Good for Bitcoin

Tags:AI bitcoin btc gold Tariffs Trading Trump

The recent surge in the price of gold, potentially indicating a blow-off top, seems to have had a positive impact on bitcoin (BTC). This trend is expected to continue, with bitcoin...

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May 1, 2025

Blockchain / Crypto / Exchange / Finance

SEC Ditches PayPal’s PYUSD Probe, Removing Key Regulatory Hurdle for Its Stablecoin

Tags:AI Circle Communication Crypto ETH EU Finance ripple US

The U.S. Securities and Exchange Commission has concluded its investigation into PayPal’s dollar-backed stablecoin, PayPal USD (PYUSD), without taking enforcement action, the company announced. In November 2023, PayPal received a subpoena...

The U.S. Securities and Exchange Commission has concluded its investigation into PayPal’s dollar-backed stablecoin, PayPal USD (PYUSD), without taking enforcement action, the company announced. In November 2023, PayPal received a subpoena from the SEC Division of Enforcement regarding PayPal USD stablecoin, requesting documents. In February 2025, the SEC informed PayPal that it was closing the inquiry without enforcement action. This development marks the latest move by the SEC to drop investigations and lawsuits against crypto companies.

Stablecoins, digital tokens pegged to fiat currencies like the U.S. dollar, have become a focal point in the regulatory debate surrounding cryptocurrencies. Regulators are questioning whether these instruments resemble securities or money market funds, leading to increased scrutiny on issuers such as Circle and Tether. PayPal’s involvement in the stablecoin space has attracted attention due to its size, brand recognition, and presence across traditional and digital finance.

The resolution of the SEC’s investigation is a positive development for PayPal as it continues to expand its blockchain-based payment offerings. The company launched PYUSD on Ethereum in August 2023 as a dollar-pegged stablecoin backed by short-term U.S. Treasury bills and dollar deposits, intended for use in peer-to-peer payments, commerce, and decentralized applications.

The news comes at a time when stablecoins are gaining popularity among both crypto and traditional finance companies. Ripple, Mastercard, Visa, Dutch bank ING, and Stripe are among the companies entering the stablecoin market. PayPal recently announced plans to offer U.S. users a 3.7% yield on balances of its PYUSD to compete in the growing stablecoin market. The company’s stablecoin currently has a market cap of $887 million, ranking it sixth among stablecoin issuers according to CoinMarketCap.

Overall, stablecoins are seen as a disruptive innovation in the payments industry, with the potential to revolutionize money transfers similar to how instant messaging transformed cross-border communication. As competition in the stablecoin space heats up, companies are looking to differentiate themselves and attract users by offering attractive yields and innovative features.

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May 1, 2025

Crypto / Cryptocurrency / Review

Solana Surges 8% Despite Global Macro Tensions. Can It Hit $155 in Short-Term?

Tags:AI btc China Crypto solana Trading US

Geopolitical tensions and evolving trade policies are continuing to influence the cryptocurrency markets, with Solana standing out amidst global economic uncertainty. SOL has demonstrated remarkable recovery strength, rising 8% from its...

Geopolitical tensions and evolving trade policies are continuing to influence the cryptocurrency markets, with Solana standing out amidst global economic uncertainty. SOL has demonstrated remarkable recovery strength, rising 8% from its low of $140 on April 30 to around $152, alongside a 35% increase in daily trading volume. This resilience comes at a time when US-China trade relations are deteriorating, impacting both traditional and digital asset markets.

In the broader context, the CoinDesk 20 Index also saw a 4% increase on Thursday.

Key highlights from the technical analysis of SOL include a recovery from a 7.4% correction on April 30, establishing strong support at 140.65 and reaching new period highs at 152.69. The trading range of 12.04 points reflects volatility, with volume analysis showing increased trading during the correction followed by sustained buying interest during the recovery.

Recent price action suggests an ascending channel with resistance at 152.50 and key support at the 148.50-149.50 zone. Bullish momentum seems sustainable with higher lows indicating potential movement towards the 155.00 psychological level. Notably, SOL experienced significant volatility within a short timeframe, but key support was established at 151.10 with strong institutional interest observed during mid-session rally.

Please note that this article was written with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For further details, refer to CoinDesk’s full AI Policy. We have also included information from external sources for reference:

– NewsBTC, Solana Monthly Candle Reclaims Key Levels – Is $240 The Next Target?, published on April 30, 2025.
– NewsBTC, Solana: Analysts Forecast Q3 ATH Rally As SOL Retests Make Or Break Level, published on April 29, 2025.
– Cointelegraph, Why is Solana (SOL) price up today?, published on April 17, 2025.
– CryptoPotato, Tension Builds: Solana (SOL) on the Verge of a Huge Move?, published on April 30, 2025.

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May 1, 2025

Crypto / Cryptocurrency / Regulation

Dinari Raises $12.7M to Expand Tokenized Stock Access for Non-U.S. Investors: Report

Tags:AI America Argentina Crypto US

Dinari, a cryptocurrency startup focusing on tokenizing real-world assets, has successfully secured $12.7 million in a Series A funding round. The funding was led by Hack VC and Blockchange Ventures, with...

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May 1, 2025

Crypto / Cryptocurrency / Exchange

Morgan Stanley Eyes Launching Crypto Trading Through E*Trade: Bloomberg

Tags:AI Coinbase Crypto Donald Trump Trading Trump US wealth

Morgan Stanley is in the works to introduce cryptocurrency trading on its E*Trade platform, marking a significant step by a major U.S. bank to give retail users direct access to cryptocurrencies....

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May 1, 2025

Blockchain / Crypto / Partnership

Sam Altman’s World Crypto Project Launches in US With Eye-Scanning Orbs in 6 Cities

Tags:AI America Crypto Japan openAI population Sam Altman Texas United St United States US

Sam Altman’s innovative blockchain project, World, is set to launch in the United States, with plans to deploy 7,500 eye-scanning “orbs” in cities across the nation by the end of the...

Sam Altman’s innovative blockchain project, World, is set to launch in the United States, with plans to deploy 7,500 eye-scanning “orbs” in cities across the nation by the end of the year.

World’s orbs, which are chrome, bowling ball-shaped devices designed to scan a person’s eyeballs for identity verification, will first be introduced to Americans in six key innovation hubs: Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco. Individuals who choose to use the orbs will gain access to the World app and receive a distribution of World’s WLD token. The project aims to have enough orbs spread throughout the U.S. by the end of the year to provide 180 million Americans, more than half the population, access to World’s network.

During a press conference in San Francisco, Sam Altman and other executives at Tools for Humanity, World’s parent company, revealed the U.S. expansion plans along with various new features and partnerships for the project.

The World app will now include access to crypto-backed loans through non-custodial lending protocol Morpho and prediction markets through Kalshi. Later this year, WLD token holders will be able to use their tokens like cash with a new World-linked Visa debit card. The project is also integrating its identity verification technology into certain online dating apps, starting with Tinder users in Japan, for Match Group to pilot using World ID to verify user ages.

Altman mentioned that the concept for World existed prior to OpenAI, his generative artificial intelligence (AI) company.

World is joining the ranks of other crypto projects expanding in the U.S. following a more favorable regulatory environment for crypto projects under the current administration.

As part of its U.S. expansion, the company plans to build a factory in Richardson, Texas, to produce the orbs required for the rollout. Following the initial deployment, other major cities such as Seattle, Orlando, San Diego, and Las Vegas will receive the next wave of orbs.

Alex Blania, co-founder of Tools for Humanity, expressed that the orbs will be widely accessible, with plans to have them available in gas stations, convenience stores, and other locations, allowing verification within 10 minutes wherever individuals are located.

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