KEYTAKEAWAYS
- Ripple and SEC file joint motion for 60-day abeyance as they pursue settlement, while New Hampshire and Florida advance Bitcoin reserve bills.
- NY Attorney General calls for stricter crypto oversight and ban from retirement portfolios, as North Carolina proposes allowing Bitcoin for tax payments.
- World Liberty Financial denies reports of $8M Ethereum selloff amid market turbulence, as sUSD stablecoin depegs to $0.87 due to protocol mechanism changes.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. Ripple and SEC File Joint Motion Toward Settlement
Ripple Labs and the SEC have jointly filed a motion for a 60-day abeyance of their appeals and cross-appeals to pursue a negotiated resolution.
The filing noted they have reached an agreement-in-principle pending SEC approval, which would resolve the legal dispute that began in 2020 when the SEC sued Ripple over XRP sales.
This shift follows President Trump’s election, which led to a more favorable SEC stance on cryptocurrencies, with the agency dropping lawsuits against multiple crypto companies.
2. State Bitcoin Reserve Bills Gain Momentum in New Hampshire and Florida
New Hampshire’s House of Representatives approved House Bill 302 by a 192-179 vote, giving the state treasurer authority to allocate up to 10% of state funds into digital assets and precious metals.
The bill restricts investments to cryptocurrencies with a minimum market cap of $500 billion, currently only Bitcoin.
Florida’s Strategic Bitcoin Reserve bill HB487 has been unanimously approved by the state’s Insurance and Banking Subcommittee, the first time a state SBR bill has passed committee stage without opposition.
3. Fed’s Goolsbee: Tariff Uncertainty Warrants Wait-and-See Approach
Federal Reserve Bank of Chicago President Austan Goolsbee said high uncertainty amid aggressive trade tariffs argues for a wait-and-see approach to monetary policy.
He noted that tariffs create a stagflationary shock for which there is “not a generic playbook for how a central bank should respond,” but still believes that “12 to 18 months from now, rates will be lower than they are today.”
4. Silk Road Founder Ross Ulbricht to Make First Public Appearance Since Pardon
Ross Ulbricht announced he will make his first public appearance since being released from prison at an upcoming Bitcoin conference in Las Vegas.
This follows President Trump’s full pardon in January, fulfilling a campaign promise made during the 2024 Libertarian National Convention.
5. Arizona Passes Bitcoin Mining Rights Bill
Arizona has passed the Bitcoin Mining Rights Bill (HB 2342) with a final vote of 17 to 12 in the Senate, now awaiting the Governor’s signature.
The legislation would protect Bitcoin mining and blockchain node operations from local zoning ordinances that could restrict these activities.
NOON NEWS
1. Solayer’s Morpho Front-End Security Vulnerability Fixed
Solayer core developer Chaofan Shou announced that the Morpho front-end component Bundler3, previously disclosed to have a security vulnerability, has now been fixed.
2. Vitalik Buterin Proposes Minimalist Privacy Roadmap for Ethereum
Vitalik Buterin proposed a “minimalist L1 privacy roadmap” on the Ethereum Magicians forum, covering on-chain payment privacy, in-application activity anonymization, on-chain read privacy, and network-level anonymization.
Core measures include integrating privacy tools into wallets, using “one address per application,” promoting FOCIL and EIP-7701, and introducing TEE and PIR privacy reading technology.
3. Fed Governor Bowman Calls for Review of 2023 Bank Failures
Fed Governor Michelle Bowman said she wants to launch an independent review of the March 2023 bank failures during a Senate Committee hearing.
Bowman dissented from Barr’s self-assessment, calling it a self-serving document that other Fed governors weren’t allowed to review.
4. House Passes Budget Plan Extending Trump Tax Cuts
The House passed a budget plan (216-214) that extends President Trump’s 2017 tax cuts, cutting taxes by about $5 trillion and adding approximately $5.7 trillion to the federal debt over the next decade.
The Treasury reported March customs duties totaled $8.75 billion, up about $2 billion from last year but far short of offsetting the tax cuts.
5. NY Attorney General Calls for Stricter Crypto Regulations
New York Attorney General Letitia James called on congressional leaders to enforce stronger crypto regulations and ban digital assets from retirement portfolios.
She outlined threats including price manipulation, fraud, economic instability, and erosion of U.S. dollar dominance, proposing requirements for stablecoins to be backed by U.S. dollars or treasuries.
EVENING NEWS
1. Global Bond Funds See Largest Weekly Outflow in Five Years
Global bond funds saw their largest weekly outflow in over five years, with investors withdrawing a net $25.71 billion during the week to April 9.
The 10-year Treasury yield increased about 45.5 basis points to 4.45%, the biggest weekly increase since November 2001, as investors pulled $15.64 billion from U.S. bond funds.
2. Curve Founder Extends veCRV Lock-Up to Four Years
Curve founder Michael Egorov announced he has extended the lock-up period for his veCRV holdings to four years.
CRV previously experienced a brief surge above 0.6 USDT following the repeal of the IRS DeFi broker rules.
3. North Carolina Proposes Bill Allowing Bitcoin for Tax Payments
North Carolina lawmakers proposed House Bill 920, which would allow citizens to use crypto assets for economic transactions, including tax payments.
Eligible digital assets must meet specific requirements, including a $750 billion market cap and $10 billion daily volume—currently only Bitcoin qualifies.
4. World Liberty Financial Denies Selling Ethereum at a Loss
The Trump family’s crypto platform, World Liberty Financial, denied reports that it sold $8 million worth of Ethereum at a loss during market turbulence.
On-chain intelligence firm Arkham had tagged a wallet selling 5,471 ETH as potentially associated with the Trump-backed enterprise, though it wasn’t verified as officially belonging to World Liberty.
5. Synthetix Stablecoin sUSD Depegs Due to Protocol Mechanism Change
According to Parsec analysis, Synthetix stablecoin sUSD has depegged to $0.87 due to the SIP-420 mechanism adjustment, not bad debt or protocol failure.
The new mechanism removes stakers’ incentive to repurchase sUSD at a low price to repay debts, while over $80 million of SNX flowing into the pool has expanded sUSD supply without matching demand.
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