A16z Urges SEC to Allow RIAs to Self-custody Crypto Assets, Proposes New Guidance

An S-1 prospectus was filed by Canary Capital for a Tron ETF with staking capabilities, aiming to provide exposure to Tron's price. Staking in ETFs is a contentious issue for regulators, with proponents and critics debating its impact on wider institutional adoption of crypto products.

Decrypt's report on public companies in crypto focuses on Circle and eToro's quiet periods for potential IPOs, Bitcoin miners selling large amounts of BTC, and Semler Scientific using securities to secure a loan for a DOJ settlement.

Three men in Brazil were sentenced to a total of 170 years in prison for their involvement in the Braiscompany crypto Ponzi scheme, which defrauded investors of around $190 million. The mastermind, Joel Ferreira de Souza, received the longest sentence of 128 years.

Analysts suggest that if President Donald Trump were to follow through on threats to dismiss Federal Reserve chair Jerome Powell, it could create turmoil in the American political system. The move could have a devastating impact on traditional finance markets but potentially benefit Bitcoin's value proposition.

SPAR in Zug, Switzerland now accepts Bitcoin payments using the Lightning Network, facilitated by DFX Swiss's OpenCryptoPay solution. This move aligns with Switzerland's progressive stance on Bitcoin adoption, with cities like Zug and Lugano leading the way in integrating cryptocurrency into daily transactions.

Coinbase is being sued by Oregon for allegedly violating state securities law by promoting cryptocurrencies as unregistered securities, leading to significant losses for investors. Despite the SEC dropping a similar lawsuit against Coinbase, states like Oregon can still pursue legal action independently.

Magic Eden has launched Season 2 of its ME token rewards campaign, allowing users to stake ME tokens, trade NFTs, and link wallets to earn rewards based on staking power and trading volume per user. The rewards will be distributed to top participants in mid-August.

eXch, a privacy-focused crypto exchange, will cease operations on May 1 due to its alleged involvement in the $1.4 billion Bybit hack and facing potential charges related to money laundering and terrorism. The decision was influenced by a whistleblower from the DOJ providing substantial evidence.

Charles Hoskinson, co-founder of Ethereum turned Cardano creator, is engaging in politics to promote blockchain technology. He aims to establish sustainable policies for blockchain by interacting with lawmakers and regulators worldwide.

The creation of a Bitcoin Strategic Reserve by President Trump marks a significant milestone for Bitcoin, transitioning from a fringe technology to an official asset within the US economy. The executive order mandates converting existing bitcoin holdings into a fund without selling, acquired through criminal and civil asset forfeiture.