Crypto weekly is authored by maaria and david blumenfeld
PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($2.77T): +6% / -19%
- BTC ($84,464): +7% / -10%
- ETH ($1,630): 0% / -51%
- SOL ($132): +22% / -30%
- UNI ($5.44): +5% / -59%
- OP ($0.68): +11% / -61%
- Tether Mkt Cap ($144B): 0% / +4%
- USDC Mkt Cap ($60.0B): -1% / +37%
- BTC / ETH Dominance: 60% / 7%
THIS WEEK IN CRYPTO
- Over $900 million of cryptocurrency liquidations occurred last Sunday after US stock futures opened -4%. BTC and ETH dropped as low as $77,000 and $1,550 respectively as uncertainty around Donald Trump’s tariffs roiled risk-on markets. Link
- The US Senate confirmed Paul Atkins as the new SEC chair in a 52-44 vote. Link.
- BlackRock added Anchorage Digital as a second digital-asset custodian alongside Coinbase for its BTC and ETH ETFs. Link.
- Ethereum developer Virgil Griffith has been released from prison after serving most of a 56-month sentence for giving a presentation at a North Korean blockchain conference in 2019. Link.
- The DOJ disbanded its National Cryptocurrency Enforcement Team and will no longer pursue criminal cases against crypto exchanges, mixing services, or wallet holders for user violations unless they involve specific crimes like embezzlement or scams. Link.
- President Trump signed legislation blocking an IRS rule that would have required decentralized exchanges and self-custodied wallet providers to report transaction information to tax authorities. Link.
- An NFT trader pleaded guilty to tax evasion after failing to report $13 million in profits from selling 97 CryptoPunk NFTs in 2021-2022, facing a maximum six-year prison sentence in what appears to be the first major U.S. tax evasion case involving NFT sales. Link.
- Binance founder CZ gave the US DOJ evidence against TRON founder Justin Sun as part of his plea dea. Link.
- The SEC released guidance on how crypto firms should approach disclosures when offering or registering securities, covering token minting, network governance, and monetization. Link. Guidance.
- Ross Ulbricht, the founder of online black marketplace Silk Road, will make his first public appearance at the Bitcoin Conference in Las Vegas following a pardon by Donald Trump. Link.
- BlackRock reported $3 billion in digital asset inflows in Q1 2025, representing 3% of its total ETF inflows. BlackRock now has $50 billion of digital assets under management on which it earns $34 million in fees. Link.
- Galaxy Digital gained SEC approval to list on the NASAQ, with trading expect to open shortly after a special shareholder meeting to approve the listing on May 9. Link.
- The SEC dismissed its lawsuit against Nova Labs, the company behind Helium Network. Link.
- Despite the DOJ’s no longer pursuing criminal cases against mixing services, New York attorney general Letita James urged Congress to regulate mixers and prevent untraceable cryptocurrency from being converted to US dollars. Link.
- The SOL-to-ETH price ratio reached an all-time high as Solana gained 10% while Ethereum fell 10% in the past week. Link.
- US prosecutors stated they would not alter charges against Terraform Labs founder Do Kwon despite a recent Department of Justice memo instructing staff to refrain from prosecuting crypto firms except under special circumstances. Link.
- NFT marketplace Magic Eden acquired crypto trading app Slingshot Finance to expand into the fungible token trading space. Link.