KEYTAKEAWAYS
- Trump's meme coin surged 60% following an announcement that the top 220 holders will be invited to a private dinner with the President, highlighting the growing intersection of politics and crypto.
- Tether, Bitfinex, and SoftBank are backing Twenty One Capital, a new Bitcoin investment vehicle planning to hold 42,000 BTC at launch, becoming the third-largest Bitcoin treasury.
- Treasury Secretary Bessent signaled potential easing of the US-China trade war as New Hampshire moves closer to establishing a state Bitcoin reserve with Senate Finance Committee approval.
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. Trump Meme Coin Surges 60% After Exclusive Dinner Announcement
President Donald Trump’s meme coin surged more than 60% on Wednesday following an announcement of “the most EXCLUSIVE INVITATION in the world,” promising the top 220 holders of $TRUMP a private gala dinner with the president on May 22 at Trump National Golf Club in Washington, D.C. The top 25 holders will also receive “an ultra-exclusive private VIP reception with the President” and a “Special Tour.” This initiative is the latest in a series of cryptocurrency ventures by Trump and his family that have generated hundreds of millions in fees.
2. Tether, SoftBank, and Bitfinex Back New Bitcoin Investment Vehicle
Brandon Lutnick, son of Commerce Secretary Howard Lutnick, is launching a listed Bitcoin investment vehicle called Twenty One Capital, backed by SoftBank, Tether, and Bitfinex. The company, to be formed through a merger with Cantor Equity Partners, will be majority-owned by Tether and Bitfinex, with SoftBank holding a “significant minority” stake. The venture plans to hold over 42,000 BTC at launch, making it the third-largest Bitcoin treasury behind Strategy and MARA Holdings. Twenty One Capital will introduce new metrics including Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR), with Strike CEO Jack Mallers as co-founder. The company will trade under the ticker “XXI” on Nasdaq after the transaction closes.
3. KiloEx to Resume Operations After Recovering Stolen Funds
Perpetual contract platform KiloEx has announced it will restart operations after recovering stolen funds. Trading and recharge functions across all supported chains will gradually resume beginning at 20:00 Beijing time on April 24, with full platform functionality expected by 21:00. Before restarting, KiloEx will release a SlowMist security audit report and a compensation plan for users affected by the recent security incident.
4. Reddio Announces Token Economic Model with 10 Billion Supply
Ethereum Layer 2 network Reddio has officially announced its RDO token economic model with a total supply of 10 billion tokens. The allocation includes: Community (8.00%) for marketing, airdrops, and incentives; Security and Network Incentives (25.00%) for mining rewards with no cliff over 10 years; Ecosystem Growth (22.76%) to support project development and partnerships; Treasury (6.96%) for operational flexibility; Contributors (21.80%) for core team members with a 12-month cliff; and Strategic Investors (15.48%) with a 6-month cliff followed by 18-month linear vesting.
5. Treasury Secretary Bessent Signals Potential Easing of US-China Trade War
Treasury Secretary Scott Bessent said the Trump administration has an “opportunity for a big deal” on trade with China, hinting that the brutal tariff war between the two nations could ease. In a keynote address at the Institute of International Finance, Bessent stated that the administration wants the US economy to rebalance toward more manufacturing while urging China to shift away from “export-led manufacturing growth,” which he called “unsustainable” and harmful to both China and the world. He added that “America First does not mean America alone,” following reports that the administration is considering slashing tariffs on China to de-escalate tensions.
NOON NEWS
1. Top 10 TRUMP Token Whales Hold $20.49M with $1.26M in Unrealized Losses
According to AI analytics, the top 10 $TRUMP token whales collectively hold $20.49 million worth of tokens but are down $1.26 million overall as of April 24. Only two whales used early accumulation addresses, while the rest moved tokens from exchanges or bought in after the dinner announcement. The top whale address may belong to market maker Wintermute. As previously reported, the top 25 $TRUMP holders are invited to a private reception and dinner with President Trump, followed by a VIP White House tour.
2. Infrared Finance Launches Points Program Ahead of Token Launch
Infrared Finance, a liquid staking protocol built on Berachain, has launched a points program to incentivize user participation before its token launch in the third quarter of 2025. The program includes retroactive rewards for early users and will allocate points dynamically based on eligible activities such as contributing to proof-of-liquidity vaults, providing liquidity on DEXs like Kodiak and BEX, and staking iBGT and iBERA tokens. The program is backdated to include activity since Infrared’s February launch and will run for approximately three months. Points will eventually be convertible into Infrared’s upcoming native token at a ratio to be announced closer to the token generation event.
3. Sam Bankman-Fried Transferred to Low-Security Prison in Los Angeles
The Federal Bureau of Prisons has transferred FTX co-founder Sam Bankman-Fried to the low-security Federal Correctional Institution Terminal Island in Los Angeles, following a brief stay at the notoriously violent medium-security facility in Victorville, California. The Terminal Island facility, which once housed Al Capone, offers wellness programs and occupational apprenticeships, though medical care is reportedly “horrible.” This transfer follows lawyers’ efforts to secure a lower-security facility for Bankman-Fried due to his autism and lack of prior criminal history. The former CEO, who was sentenced to 25 years for defrauding FTX users, is reportedly seeking a pardon from President Trump with the help of his parents.
4. sUSD Surges Above $0.88, Gaining 10% in 24 Hours
The Synthetix stablecoin sUSD has surged above $0.88, marking a 10% gain in the past 24 hours.
5. Trump to Host Dinner with Top TRUMP Token Holders
President Trump will attend a dinner next month with the top holders of his meme coin, according to an announcement on the token’s official website. The dinner, scheduled for May 22 at Trump’s golf club near Washington, will be available to the top 220 holders of $TRUMP. The event is promoted as an opportunity to hear “first-hand” from Trump about the future of cryptocurrency. The top 25 holders will also receive invitations to an “exclusive” reception with the president and a “special” White House tour. The website urges participants to “hold as much $TRUMP as you can” through May 12, stating “The more $TRUMP you hold—and the longer you hold it—the higher Your Ranking will be.” Following the announcement, the token’s price jumped from around $9 to nearly $15.
EVENING NEWS
1. Binance Announces Full Integration of Initia Across Multiple Services
Binance has announced the complete integration of Initia (INIT) across its ecosystem, including Simple Earn, Buy Crypto, Convert, Margin Trading, and USDⓈ-M Futures. The services will go live on April 24, 2025, with INIT Flexible Products available at 11:00 UTC, Margin trading at 11:20 UTC, and INITUSDT Perpetual Contract launching with up to 5x leverage. The token will be purchasable via various payment methods and available for zero-fee conversions against BTC, USDT, and other supported assets within one hour after its Spot listing.
2. New Hampshire Bitcoin Reserve Bill Passes Senate Finance Committee
The New Hampshire Bitcoin Reserve Bill (HB 302) has passed the Senate Finance Committee with a 4-1 vote, moving one step closer to becoming law. This approval demonstrates growing support for Bitcoin adoption within the state as lawmakers assess the potential benefits of establishing a Bitcoin reserve. The bill will now move forward in the legislative process.
3. MOBOX Transitions to DeSci Field with “Gamified Research” Platform
Blockchain gaming project MOBOX has officially announced its transition into the Decentralized Scientific Research (DeSci) field, launching a new platform centered around “gamified research.” The project aims to make the research process more accessible, allowing everyone to participate in experiments, confirm equity, and achieve commercial monetization. MOBOX’s first hardware product is the “Magic Box,” a device resembling a petri dish equipped with modules for spectrum control, nutrient supply, temperature and humidity management, and gas monitoring. The project roadmap shows MOBOX will expand from basic biological cultivation to medicinal plants and high-value microorganisms, ultimately building a globally distributed research collaboration platform.
4. Prosecutors Seek Over Six Years in Prison for Mango Markets Exploiter
Mango Markets exploiter Avraham “Avi” Eisenberg could face over six years in prison as U.S. prosecutors push for a 78-97 month sentence ahead of his May 1 hearing. In an April 22 filing, federal prosecutors told the court that Eisenberg’s 2022 exploit of the Solana-based DeFi platform was not a clever arbitrage but a premeditated attack that defrauded investors of over $100 million. Prosecutors allege Eisenberg used false identities, disguised his location, and researched fraud laws before the attack. Although he returned around $67 million following a DAO vote, the government characterized this as “a ransom note” rather than a genuine return of funds. Mango Markets, which shut down in early 2025, is seeking $47 million in restitution.
5. JAN3 CEO Discusses National Bitcoin Strategy with Japanese Senator
According to Bitcoin News, Samson Mow, CEO of Bitcoin technology company JAN3, met with Japanese Senator Satoshi Hamada to discuss the urgent need for Japan to formulate a national Bitcoin strategy. Hamada previously called for the government to establish a strategic Bitcoin reserve in a public speech last December.
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