Tether's latest evidence shows it holds over $7.6 billion worth of Bitcoin

Tether today released a first quarter 2025 attestation report issued by BDO, confirming the accuracy of its financial data and reserve report (FFRR) and disclosing its assets as of March 31. The report shows that Tether holds a total exposure of nearly $120 billion in U.S. Treasury bonds (including indirect holdings), a record high. Traditional investment operating profit exceeded $1 billion this quarter, mainly benefiting from the performance of the U.S. Treasury portfolio, and gold gains partially offset the volatility of the cryptocurrency market. Excess reserves reached $5.6 billion, reflecting its liquidity management capabilities. In terms of operations, the circulating supply of USDT increased by approximately $7 billion, and the number of user wallets increased by 46 million, a month-on-month increase of 13%. In addition, Tether invested more than $2 billion in renewable energy, artificial intelligence and other fields through Tether Investments. Management emphasized that such investments are not included in the stablecoin reserves, but are intended to promote a sustainable digital economy. As of March 31, Tether Token Issuer had total assets of approximately $149.275 billion and total liabilities of approximately $143.683 billion, with assets exceeding comprehensive liabilities.

Sky’s core governance design team, Atlas Axis, has submitted a proposal that, if approved, would complete the protocol’s upgrade from MKR to SKY. The shift would make SKY the exclusive governance token and enable staking, unlocking USDS rewards for SKY holders. Sky co-founder Rune Christensen called it a “huge milestone” and believes the proposal could help Sky achieve zero fixed cost transition by the end of 2025. If the proposal is approved, or activated within a few weeks, SKY will inherit MKR governance voting rights. Existing MKR holders can upgrade to SKY at a fixed exchange rate of 1:24,000, and will be able to vote on governance proposals or delegate to others. Starting September 18, MKR to SKY conversions will face a 1% penalty, which will increase by 1% every three months thereafter. Initially, the SKY staking vault will have liquidation disabled, which will be restored later. Governance rights will be migrated to the new contract, and the transition will be completed between May 15 and 19 (depending on on-chain voting).

The crypto venture capital firm dao5 announced the completion of the fundraising of the second phase of the fund of US$222 million, with the main investors being family offices and high-net-worth individuals. The firm was founded in 2022 by Tekin Salimi, a former Polychain investment partner and corporate lawyer. Its first phase of US$125 million has been fully invested in projects such as Berachain and Bittensor, and its current DPI (return on paid-in capital) has reached 1 times. The new fund will focus on institutional applications such as stablecoins and asset tokenization, and plans to invest in 15-20 early projects. Salimi has participated in major crypto project investments such as Avalanche, and his first fund LP and angel investor George Lambeth will be promoted to general partner.

Charles Schwab CEO says spot cryptocurrency trading will begin within 12 months

Blockchain finance company Dinari announced the completion of a $12.7 million Series A round of financing, led by Hack VC and Blockchange Ventures, with participation from VanEck Ventures, F-Prime and Avalanche Fund. The company's total financing has reached $22.65 million, with a valuation of $40.15 million in 2024. According to Pitchbook data, Dinari's valuation in 2024 is $40.15 million. The current valuation is unclear, but the company said it has achieved profitability, but declined to disclose the specific amount.

Morgan Stanley is planning to add cryptocurrency trading capabilities to its E*Trade platform. The project is still in its early stages, and company executives expect the service to be launched next year. To advance this plan, Morgan Stanley is considering partnering with one or more well-known cryptocurrency companies to build a platform for its brokerage clients to trade popular tokens such as Bitcoin and Ethereum.

Zach Witkoff, co-founder of the Trump family project WLFI (World Liberty Financial), revealed that there will be more cooperation related to the stablecoin USD1 in the future. He said: "World Liberty is preparing a lot of plans... We are working hard to promote integration with traditional retail POS systems."

The Ethereum core development team is about to complete the formulation of two key standards aimed at solving the problem of address identification in cross-chain interactions. The ERC-7828 and ERC-7930 standards are expected to be officially finalized on May 9, and are currently in the final community opinion collection on the Ethereum Magicians forum. It is understood that the ERC-7930 standard will provide a unified network identification format for the system, while the ERC-7828 standard is committed to converting complex encrypted addresses into a more recognizable "name@service" format. This improvement will effectively reduce the risk of asset loss caused by incorrect network selection.

Eric Trump, son of US President Trump, said that the USD1, a dollar-denominated stablecoin issued by World Liberty Financial (WLFI), has been officially selected as the official stablecoin for Abu Dhabi investment institution MGX to complete its $2 billion investment in Binance. Eric Trump said at the Token2049 event held in Dubai: "We appreciate the trust that MGX and Binance have placed in us, and I think this is just the beginning."

CryptoQuant analyst Axel Adler Jr analyzed three possible trends for Bitcoin in the next six months. Currently, the momentum on the Bitcoin chain shows signs of "starting". In the optimistic scenario, if the relevant indicator breaks through 1.0 and maintains, the price of Bitcoin may rise to $150,000 to $175,000. In the basic scenario, the indicator fluctuates between 0.8-1.0, and the price will hover between $90,000 and $110,000. In the pessimistic scenario, if the indicator falls above 0.75, short-term holders may sell, and the price of Bitcoin may fall back to $70,000 to $85,000. He said that considering the previous adjustments, the first two scenarios are more likely to be realized.

Binance Alpha platform announced the listing of HeyAnon (Anon) token and Beets (BEETS) token.

According to Coingecko, more than 50% of cryptocurrency projects have failed since 2021. Of the nearly 7 million cryptocurrencies listed on GeckoTerminal, 3.7 million have stopped trading. As of March 31, 2025, 1.8 million projects have failed, a record high for a single year, accounting for 49.7% of the total number of project closures in the past five years. 2024 followed closely with 1.38 million projects failed, accounting for 37.7% of the total number in the past five years. Before pump.fun was launched in 2024, the number of project failures was only in the six figures. Project failures between 2021 and 2023 accounted for only 12.6% of the total number in the past five years. The number of projects increased from 428,000 in 2021 to nearly 7 million in 2025, mainly due to the launch of pump.fun, which flooded the market with a large number of meme coins and low-quality projects.