Trump Expected to Sign Crypto Law Before August
Bo Hines, Executive Director of the US Presidential Digital Asset Advisory Committee, said at the Consensus 2025 event in Toronto that he expects Trump to sign the stablecoin and market structure law before his August vacation. Hines said that negotiations are progressing positively but that the details of the bill are still being finalized. Addressing allegations of a conflict of interest regarding the Trump family’s interest in crypto, Hines emphasized that this does not violate the law. He also announced that efforts to create a strategic Bitcoin reserve are ongoing.
Stablecoin Bill Back on the Agenda: GENIUS Act May Pass
It was stated that the bipartisan GENIUS stablecoin bill in the Senate could pass before May 26 as a “reasonable” target. According to statements by Republican Senator Cynthia Lummis and Democratic Senator Kirsten Gillibrand, the bill was softened by removing provisions related to the Trump family’s cryptocurrency activities. The new bill focuses on consumer protection and regulatory clarity.
Metaplanet Q1 Financial Report Released
Metaplanet, which trades on the Tokyo Stock Exchange, increased its revenue by 943.9% year-over-year in the first quarter of 2025. This increase came from Bitcoin option sales, accounting for 88.1% of the total, with the company’s total revenue reaching 877 million yen. Metaplanet reported that it held a total of 6,796 BTC with a Bitcoin asset return of 95.6% as of the end of the quarter.
JPMorgan Completes First Tokenized Treasury Transaction on a Public Blockchain
JPMorgan Chase has successfully traded the tokenized version of U.S. Treasury bonds on a public blockchain for the first time. The tokenized product, provided by Ondo Finance, was integrated with Chainlink’s oracle service. This step represents JPMorgan’s transition from its private chain, Onyx, to a more open financial infrastructure.
Layer 1 blockchain Sui has launched a strategic partnership with investment firm 21Shares to increase institutional interest. The partnership aims to increase global access and strengthen institutional adoption within the Sui ecosystem.
Ethereum Gains Momentum with Institutional Demand and L2 Growth
Ethereum rose by 42% over the past week. This increase is attributed to layer 2 solutions, increased stablecoin usage, and growing institutional interest in Ethereum. The Pectra upgrade, completed on May 8, enhanced network efficiency and transaction quality, further strengthening the technical infrastructure.
Bitcoin Spot ETFs
According to SoSoValue data, Bitcoin spot ETFs saw a net inflow of $320 million yesterday. The largest contribution came from the BlackRock IBIT ETF, which saw a net inflow of $233 million. The IBIT’s total historical net inflow reached $45.01 billion.
Ethereum Spot ETFs
Ethereum spot ETFs saw a net inflow of $63.47 million on the same day. The BlackRock ETHA ETF led the day with an inflow of $57.6 million, bringing its total historical net inflow to $4.26 billion.
by Darkex Research – 1 min read
Click for Market Pulse news articles prepared by the Darkex Research Team.
