Market Update & Industry News - May 7, 2025
Market Update & Industry News - May 7, 2025
馃殌 NH Bets Big on Bitcoin
Bitcoin reaches $96.6K amid improving US-China trade relations, with dominance exceeding 65% (4-year high)
New Hampshire makes history by passing first Bitcoin Strategic Reserve legislation
Institutional moves: Citi plans onchain pre-IPO credit, Bitwise files NEAR ETF, company plans $500M stock sale for BTC purchase
Stablecoin market grows 14% in 2025; WorldLibertyFi plans ETH mainnet airdrop
Notable events: CZ seeks US pardon, SNS announces surprise airdrop, Doodles' DOOD token launch set for May 9
FOMC decision due today with only 3% odds of rate cuts
What's new? 馃敼Crypto majors soar on US China trade progress; BTC at 96.6K 馃敼Bitcoin dominance hits new 4-year high above 65% 馃敼FOMC decision today, rate cuts odds only 3% 馃敼New Hampshire passes 1st-ever Bitcoin Strategic Reserve 馃敼@Citi reveals plans to bring pre-IPO private
DeFi Development Corp Plans $1B Solana Investment
DeFi Development Corp has announced plans to raise $1 billion specifically for expanding its Solana-focused treasury strategy. This move follows their previous commitment to Solana's ecosystem. - The investment aims to increase DeFi liquidity and staking yields - Implementation will be supported by EMMA AI infrastructure - Strategy represents a significant institutional bet on Solana's future For real-time yield tracking and analysis, visit [SafeYields.io](https://www.safeyields.io)
Ripple's Multi-Billion Dollar Offer to Acquire Circle Rejected
Ripple, the crypto payments firm, made a significant acquisition offer to Circle, the company behind USDC stablecoin. The proposed deal was valued between $4-5 billion. Circle declined the offer, stating it undervalued their company. The news was first reported by Bloomberg and later confirmed by multiple sources. Key points: - Offer made: $4-5 billion - Target: Circle (USDC issuer) - Status: Rejected - Reason: Perceived undervaluation [Read more on Decrypt](https://decrypt.co/317169/ripple-5-b)
CZ Prison Experience Interview with Farokh
Former Binance CEO Changpeng Zhao (CZ) discusses his prison experience in an exclusive interview with Farokh. The conversation follows CZ's legal troubles and subsequent plea deal with US authorities in late 2023. - CZ stepped down as Binance CEO after pleading guilty to money laundering charges - The interview provides firsthand insights into his time in custody - Discussion includes comparison to SBF's case and prison sentence Watch the full interview: [YouTube](https://www.youtube.com/watch?v=n1W5VbLFZtw)
Robinhood Developing European Trading Platform for US Assets
Robinhood is expanding its global presence with a new platform targeting European traders. The development follows their recent EU crypto trading launch. Key features: - 24/7 trading capability - Access to US equities and ETFs - Licensed operations through Bitstamp acquisition This strategic move builds on Robinhood's December 2023 EU crypto expansion, which included 25 cryptocurrencies and bitcoin rebate incentives. The platform aims to diversify its offerings while establishing a stronger international presence.