Category: Current Affairs

Fold Becomes First Bitcoin Financial Company to Ring Nasdaq Opening Bell

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Fold’s stock has surged 17% in price following its historic honor of ringing the Nasdaq opening Bell on May 2, 2025.

 

Fold, a Bitcoin-focused financial services company, has caught the market’s attention following its bold steps into Wall Street. The company was honored to be the first Bitcoin financial services firm to ring the opening bell at the Nasdaq Stock Exchange. This signals a shift in Wall Street market sentiment and crypto’s expanding integration with traditional finance.

Fold allows users to earn Bitcoin through everyday spending to boost the crypto adoption process. Following this ceremony, Fold shares have surged past 17%, suggesting heightened investor conviction.

According to Nasdaq’s announcement on X (formerly Twitter):

 

Personal finance powered by bitcoin.  @fold_app is the first publicly traded bitcoin financial services company—making it easy for individuals and businesses to earn, save and use bitcoin. Proud to be your exchange partner!

 

Fold has recently gone public, and today’s ceremony marks a milestone for Bitcoin and crypto adoption in daily life. The bell-ringing debut is not only a symbolic event but also a marketing moment for Fold’s Bitcoin rewards App. The company is eyeing hyperbolic growth following the partnership.

 

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Ivy League Brown University Goes Crypto With 4.9M Bitcoin ETF Buy

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Beyond its 260-year-old educational excellence, Ivy League Brown University has joined institutional smart money, making bold steps into the “digital gold” rush.

 

May 2- One of the 8 oldest educational institutions (Ivy League schools) in the United States has announced its strategic step into the digital assets market. Brown University has signaled confidence in crypto assets as the mainstream finance sector faces portfolio revisions.

In its recent 13F filing and portfolio disclosure, Brown University has revealed a smart money move by opening a $4.9 million position in the IBIT Bitcoin ETF, totaling 105,000 shares.

 

Source: Quiver Quantitative

 

What does this mean for BTC?

With Bitcoin Exchange Reserves declining, Bitcoin’s scarcity is rising, hinting at a potential supply shock in the next few months. Analysts have argued that with the rising institutional demand, 2025 could be the last year to buy BTC below $100k, considering its capped supply.

As institutions rush to accumulate the “digital gold”, an exponential bull rally could be on the cards in the next few months, with negligible price volatility marks.

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$3 Trillion Goldman Sachs to “Get More Involved in Crypto”

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Goldman Sachs has revealed that it is moving “very fast” and is “very active” on Bitcoin and Crypto, as “clients are very eager to get involved.”

 

Finance and investment banking giant with over 150 years of operation, Goldman Sachs, has revealed its interest in venturing into the crypto space. The $3 trillion institution has highlighted a burning desire by its clients to tap into the growing digital assets market.

According to Goldman Sachs;

More clients are now eager to get involved in trading of digital assets…This is kinda one of the biggest opportunities we see.

 

The company’s Global Head of Digital Assets, Mathew McDermott, says if the U.S becomes the global capital of the crypto market per Donald Trump’s vision, the tokenization of stocks and money market funds is a necessity.

According to him, Goldman Sachs is considering expanding to crypto trading by exploring the tokenization of Real-World Assets. This will allow market activity to continue beyond office hours as the world shifts into  24-hour digital markets.

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Ripple Increases Bid for Circle to $20B After $5B Offer Rejection

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Ripple Labs is reportedly increasing its bid for the stablecoin issuer, Circle, in a bid to increase its stablecoin market dominance.

 

Ripple Labs, the technology company offering blockchain-based payment solutions and the creator of the XRP ledger, has caught the market’s attention due to its strategic moves. The company is seeking dominance in the stablecoin market, potentially rivaling the current King of stablecoin, Tether. RippLe has recently issued its stablecoin RLUSD, backed 1:1 by USD reserves.

However, to gain significant market dominance, the company moved ahead to bid $5 billion to buy Tether’s rival, Circle. Following an offer rejection, Ripple is reportedly offering $20 billion to secure the USDC stablecoin issuer. According to Roundtable Network on X (formerly Twitter):

 

Ripple is going big – reportedly increasing its bid to #acquire #Circle from $5B to $20B after being turned down the first time.

Ripple could be poised for growth

Looking at the market sentiment, Ripple’s XRP has surged 4.76% over the past month, signalling rising investor confidence. Additionally, Whales have been accumulating XRP in the same period.

 

Source: X

 

Per the on-chain data, Whales have bought 900 million XRP coins in the past 30 days. Considering a positive outcome on the SEC Case against the company, Ripple’s on-chain data and fundamentals hint at long-term growth.

 

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Cardano Signals Strength amid Rising Odds of ETF Approval

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Cardano (ADA) is getting stronger as analysts speculate about a possible ETF approval.

 

Cardano (ADA) has strengthened since Bloomberg ETF analysts updated their predictions. They have raised the chances of ADA getting approved for a spot ETF. Originally thought to have a 20% chance of success, Cardano’s new projection is now 75%. 

This change follows reports that Grayscale has increased its ADA holdings, which shows growing confidence from institutional investors.

Investors are showing heightened confidence in Cardano’s long-term growth. Several banks in Switzerland are allowing their clients to buy and sell ADA. The token is also part of many ETF applications and is already traded through exchange-traded products (ETPs) in European markets.

Market-wise, Cardano (ADA) is up 12% this week, recently breaking the $0.70 level. While momentum indicators such as BBTrend (7.55) and ADX (17.14) suggest a cooling phase, the token is currently testing support at $0.7. 

A breakdown could see pullbacks to $0.63 or $0.609, while a breakout above $0.746 may open the door to a rally toward $0.88. The alignment of fundamental and technical signals increases ADA’s chances of getting ETF approval and wider utility.

 

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SUI Surges 9% as 21Shares Files for SUI ETFs

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Sui has surged 9% following a partnership between the SUI Network and 21Shares.

 

On April 30, 21Shares, the crypto exchange-traded products (ETPs) firm, announced a partnership with the SUI network. The strategic collaboration aims at advancing high-performance blockchain utility in institutional finance. 21Shares has moved ahead to file for SUI  Exchange Traded Fund (ETFs) under the Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC).

 

Following this Development, SUI has surged 9% in the past 24 hours as of this writing, according to CoinMarketCap Data. The coin is attempting a breakout above the $3.50-$3.70 key resistance zone, with price fluctuating around this level.  Per Coinglass data, the Coin’s open internet has surged nearly 10%, signaling rising market optimism.

With the Open Interest (OI)-Weighted Funding Rate turning positive, SUI’s bullish momentum could be strengthening. Traders are watching the buying pressure and the market’s response to this news to determine their next moves.

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Eric Trump Claims SWIFT System is Broken and Crypto will Replace it

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Bullish: Eric Trump has warned that cryptocurrencies could replace banks if they don’t integrate them in the next decade. So, how is the banking system lagging behind crypto?

 

Speaking at the Token 2049 event in Dubai, Eric Trump has called out the banking system for embracing old, slow processes and failing to evolve with the market demands. According to the talk, the modern financial system is broken and static in terms of location, making the financial transaction process very slow and procedural. According to him:

 

Sending money internationally through SWIFT is slow, costly, and complex. Crypto makes banks redundant.

 

 

So, how is the banking system lagging?

SWIFT payments have multiple intermediaries involved in money transfer, often taking days and high fees to finalize processes. Banks are also located at specific places and have fixed operational hours. Moreover, the banking system experiences political oversight, leading to biased operations across the globe.

On the other hand, cryptocurrencies have no intermediaries, offices, or hours of operation. They are trustless and with no political oversight in transactional operations. Above all, they take seconds to finalize transactions. As a result, crypto is becoming the preferred choice for global transactions.

 

 

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Russia Ranks as the Most Profitable Bitcoin Mining Region Globally

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Russia has emerged as a very profitable Bitcoin mining region based on electricity and mining costs per BTC.

 

Bitcoin mining has been a profitable sector since the birth of the cryptocurrency market. However, as miner rewards decrease after every Bitcoin halving event and the cost of mining equipment rises, investors have to be strategic about their firm locations. This is due to varying costs of electricity, tax policies, and other factors that slash profit margins across different regions.

A recent report by NFT Evening has analyzed mining costs across different regions globally, considering electricity costs in each location. According to the data, Russia has ranked as the most profitable BTC mining region. It costs approximately $39k to mine 1 BTC, worth $95k in the current market price.

 

Source: NFT Evening

 

A country like Germany costs $230k while the U.S costs $85K per Bitcoin mined. There exists a significant profit margin for investors mining in Russia due to affordable energy, as Western nations face low cost-efficiency in the mining process.

Russia’s energy advantage could reshape the BTC mining industry and global hashpower distribution.

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FIFA Plans to Launch EVM-compatible Blockchain Advancing Sport-tech

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FIFA has announced plans to step into Web3 with its own EVM-compatible blockchain, signaling a shift in sports technology.

 

Blockchain technology stands out as a key element in revolutionizing the next wave of the digital economy and its diverse sectors. Considering gaming and sports, blockchain technology has proven itself significant in ensuring data safety and transparency for players.

 

FIFA, the international body for association football(soccer), has announced its plans to have its own Ethereum Virtual Machine (EVM)- compatible blockchain named FIFA Blockchain. According to the official website, the organization expects a migration of its collectibles platform, FIFA Collect, to this new blockchain network.

The new network will facilitate web3 incorporation, such as gaming, NFTS, and fan tokens. This development will allow FIFA to have full control of the user experience and minimize reliance on third-party service providers, thus cutting costs. Additionally, the organization will get a chance to participate in the growing Web3 ecosystem and advance blockchain adoption.

 

 

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BlackRock Files To Tokenize Shares of its $150B Money Market Fund

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The world’s largest asset manager, BlackRock, has taken a bold step into web3 by filing to tokenize shares of its $150 billion money market fund.

 

Asset tokenization is a key aspect of Web3 and the future of the digital economy. BlackRock, the largest asset manager in the world, has acknowledged the shift in modern finance, fuelled by a rising desire for digital assets.  Investors can now own a whole or a part of a real-world asset located in their dream locations across the globe without physical relocation, through the concept of tokenization.

 

In response to the demand for asset tokenization, BlackRock has officially filed to tokenize shares of its massive $150 billion money market fund. The financial giant signals its adaptation to the changing landscape of the digital economy and traditional finance, fuelled by blockchain technology adoption.

If the filing is successful, everyday investors could find a new way of interacting with traditional assets. Additionally, this makes the ownership and asset transfer process faster and easier as it happens on-chain with less documentation.

 

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