Texas House committee passes Bitcoin reserve bill for full floor vote
A Texas House Committee has passed a Republican-backed bill to create a Bitcoin reserve, which now only needs a successful full floor vote before heading to the governor’s desk. The Texas House Committee on Delivery of Government Efficiency passed Senate Bill 21 with no amendments on May 7 in a 9-4 vote along party lines. […]
Bitcoin nears $100K as Trump set to reveal trade deal with UK
Bitcoiners expect Bitcoin to soon break past $100,000 and potentially hit a new all-time high as US President Donald Trump is set to announce a trade deal with the UK. Trump said in a May 7 Truth Social post that a “major trade deal” with a “big, and highly respected, country” would be announced on […]
G7 summit could discuss North Korea’s crypto hacks: Report
Group of Seven (G7) leaders could discuss North Korea’s escalating cyberattacks and crypto thefts at an upcoming summit in Canada, mid-next month. Conflicts in Ukraine and Gaza will dominate discussions, but North Korea’s increasing cyber threats and crypto hacks have become a major concern requiring a coordinated international response, Bloomberg reported on May 7, citing […]
Arizona governor signs law for state to keep unclaimed crypto
Arizona Governor Katie Hobbs has signed a bill into law allowing the US state to keep unclaimed crypto and establish a “Bitcoin Reserve Fund” that won’t use any taxpayer money or state funds. Hobbs signed House Bill 2749 into law on May 7, which allows Arizona to claim ownership of abandoned digital assets if the […]
Bitcoin miner Core Scientific posts $580M Q1 profit but misses revenue estimates
Nasdaq-listed Bitcoin mining firm Core Scientific Inc. posted a net profit of $580 million with its first quarter results, but missed analyst revenue estimates after a drop in its mining profits. Core Scientific’s Q1 2025 results, shared on May 7, saw it more than double its $210 million net income from the year-ago quarter, while […]
Bitcoin returns to $98K as Fed holds rates steady despite Trump’s demand
Bitcoin has reclaimed $98,000 for the first time in almost three months after the US Federal Reserve said it would keep interest rates the same for another month. The Fed’s decision to keep interest rates unchanged comes despite mounting pressure from US President Donald Trump, who just weeks ago threatened to fire Fed chair Jerome […]
Binance founder CZ asked Trump to pardon money laundering conviction
Binance founder and convicted felon Changpeng Zhao says that he applied for a pardon from US President Donald Trump shortly after denying reports that he was seeking one. Zhao, also known as CZ, said on a Farokh Radio podcast episode aired May 6 that he “wouldn’t mind” a pardon and that his lawyers have already […]
Falling DXY part of US financial system’s ‘long-term transition’ — Will Bitcoin continue to shine?
What to know: Lyn Alden says a weaker dollar is necessary for the US to stabilize its financial system. Bitcoin and gold are well-positioned to benefit from de-dollarization. Sovereign wealth funds and various nations are already increasing their Bitcoin exposure as the dollar’s global dominance starts to wane. The weakening of the US dollar (DXY) […]
Robinhood plans blockchain for US asset trading in Europe — Report
Brokerage fintech Robinhood is reportedly developing a blockchain network that will enable retail investors in Europe to trade US securities. According to a May 7 Bloomberg report citing sources familiar with the matter, the move seeks to expand the company’s local presence by offering trading of tokenized securities, such as stocks. Two crypto firms, Arbitrum […]
Ex-SafeMoon CEO claims innocence, blames founder as trial begins
Braden John Karony, the former CEO of crypto firm SafeMoon, made an out-of-court statement claiming innocence as his criminal trial began in New York. In a May 6 X post after court proceedings had likely ended for the day, Karony said he was innocent and “did not commit fraud” in response to media coverage of […]