Crypto adoption continued to move forward, with everything balancing out along the way.
The big players didn’t slow down, as bad actors remained an issue.
The headlines:
- Tether’s CEO revealed plans to launch an America-focused stablecoin;
- Morgan Stanley intends to launch crypto trading on E*Trade;
- BlackRock expanded its tokenization footprint;
- Ondo Finance revealed its Solana Blockchain-linked network bridge;
- Roswell, New Mexico, became the first city in the United States to have a Bitcoin reserve;
- Plus, Charles Schwab wants to enable crypto trading (more on that later);
- And much more!
As always, these are your decentralized diaries!
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Bitcoin is at $94k (as of 5/5/25)
Crypto volatility continued, with Bitcoin moving from a $92,979.63 low to a $97,905.90 high. Bitcoin is currently at $94,175.96.
The altcoins are moving similarly.
Ethereum (ETH) is at $1,797.06, Solana (SOL) at $144.68, Chainlink (LINK) at $13.98, Avalanche (AVAX) at $20.13, Polkadot (DOT) at $3.98, and Uniswap (UNI) at $5.02.
America Could Have a Stablecoin Later This Year-Ardoino
In a May 2 CNBC interview, Tether CEO Paolo Ardoino unveiled plans to launch a US-focused stablecoin. Ardoino indicated in the interview that the USDT token is aimed at users in emerging countries.
Furthermore, Ardoino also iterated that the proposed digital asset will have both institutional and retail use cases.
Morgan Stanley Unveiled Crypto Trading Plans on E*Trade
Banking behemoth Morgan Stanley (reportedly) wants to launch crypto trading on E*Trade. According to a May 1 Bloomberg report, customers could trade digital assets on the E*Trade platform in 2026.
In addition, Morgan Stanley is exploring partnerships with several digital asset firms about the issue.
Borderless.xyz Welcomed Abra to its Network
Premier crypto broker Abra joined the Borderless.xyz network as part of stablecoin liquidity improvement efforts. The setup combines Borderless. xyz’s ecosystem with Abra’s infrastructure.
Furthermore, the combination enables improved stablecoin flows with access to several liquidity pools.
BlackRock Filed to Offer Tokenized Shares of its Treasury Trust Fund
Investment giant BlackRock continued to expand its foray into the tokenization space with a new filing. According to the April 28 form N-1A SEC filing, BlackRock will sell the digital shares through BNY Mellon.
Purchases will also have a minimum value of $3 million for (institutional) investors.
The SEC Closed its PayPal PYUSD Stablecoin Investigation
America’s top financial regulator continued to roll back several of its previous activities with sun-setting PayPal’s PYUSD stablecoin probe. According to an April 29 filing, the SEC revealed the closure of the PYUSD investigation.
Additionally, the SEC indicated it ended the foray without enforcement action.
Ondo Finance Announced a Solana Network Bridge
Tokenization specialist Ondo Finance expanded its footprint by launching a Solana Blockchain bridge. In a May 1 post on its website, Ondo Finance revealed the Layer Zero-powered deployment that connects the Solana Blockchain with several intelligent contract-capable networks, including Arbitrum, Mantle, and Ethereum.
Subsequently, the deployment will enable seamless transactions with its native USDY token across different ecosystems.
The Treasury Targeted a Cambodian Financial Group
In a May 1 announcement, the Treasury’s Financial Crimes Enforcement Network (FinCEN) revealed measures to block the Cambodia-based Huione Group from the U.S. financial system. FinCEN alleged that the telegram-based ecosystem has links to North Korean hackers and that the bad actors used the platform to launder the proceeds of pig butchering scams and other criminal endeavors.
Furthermore, FinCEN alleged that Huione lacked appropriate compliance measures and policies.
Arizona’s Governor Vetoed its Bitcoin Reserve Bill
On May 2, Arizona Governor Katie Hobbs announced her veto of its Bitcoin Reserve bill (Senate Bill 1025). Hobbs referred to digital assets as ‘untested investments’ in a letter to Arizona State Senate President Sen. Warren Petersen.
Additionally, another crypto-related bill (SB1373) still awaits a final vote.
Roswell, New Mexico, Created a Bitcoin Reserve
The city of Roswell, New Mexico, made history by creating the ‘Roswell Strategic (Bitcoin) Reserve.’ On May 3, Roswell’s mayor pro tem, Juliana Halvorson, signed the receipt of the transfer of an anonymous Bitcoin donation to its official wallet.
On January 3, a confidential donor gave the tokens to the city to aid efforts in creating the setup.
Charles Schwab Revealed Crypto Trading Launch Plans
Investment giant Charles Schwab announced intentions to enable crypto trading on its platforms. During a Yahoo Finance Opening Bid podcast interview, Charles Schwab CEO Rick Wurster indicated that spot crypto trading could be available by next year.
Consequently, Wurster iterated that the firm didn’t have plans to enable meme coin trading on its platform.
A Texan Legislator Wants Crypto ATMs in Federal Buildings
Rep. Lance Gooden called for installing crypto ATMs in federal buildings in a May 1 letter to the acting Administrator of the General Services Administration (GSA). According to the letter, Gooden referred to digital assets as “an integral part of the global financial system.”
Circle Turned Down a Ripple Acquisition Bid
Stablecoin issuer Circle rebuffed Ripple’s purchase efforts. According to an April 30 Bloomberg report, Ripple (reportedly) intended to take over Circle in a deal worth between $4 billion and $5 billion.
Furthermore, Circle rejected the bid, citing the purchase value as “too low.”
The Crypto ETF Space Had Some Moves
Crypto ETFs continued to have improved progress, with several events. Grayscale launched the Bitcoin Adopters ETF (BCOR). The offering aims to track firms that have Bitcoin exposure.
In an April 28 filing, Nasdaq revealed plans to list and trade the 21Shares Dogecoin ETF shares. The SEC approved three Proshares XRP-focused ETFs (the Ultra Short XRP ETF, the Ultra XRP ETF, and the Short XRP ETF).
On April 29, the SEC announced the postponement of the Bitwise Dogecoin ETF (until June 15) and the Franklin XRP Fund (until June 17).
