US Housing Finance Agency Director "Instructs Mortgage Lenders to Consider Cryptocurrency as Collateral"
William Pulte, director of the Federal Housing Finance Agency (FHFA), announced on X that he has instructed government-sponsored mortgage institutions Fannie Mae and Freddie Mac to review cryptocurrency as a potential asset for mortgage loan applications. He added that he would follow the vision of the Trump administration to make the US the cryptocurrency capital. Previously, Coinnews reported that Pulte stated he would "study how cryptocurrency affects mortgage loan qualifications".
White House Official "US Government Has Roadmap for BTC Accumulation"
A senior White House official attending a conference hosted by the Bitcoin Policy Institute stated that "the US government has an 'accumulation plan' for Bitcoin purchases".
Powell "Fed Reviewing Multiple Existing Cryptocurrency Guidelines"
Jerome Powell, Chair of the Federal Reserve (Fed), stated that "the Fed is currently reviewing several previously announced cryptocurrency guidelines, and some are in the process of being withdrawn".
WSJ "GENIUS Law Could Be Tether's Biggest Risk"
The Wall Street Journal analyzed that if the GENIUS stablecoin regulation law being pursued by the US Congress passes, Tether, which holds 66% market share, could be the most significantly impacted. The article explained that the bill aims to incorporate stablecoins into the official financial system and requires stablecoin issuers to maintain 1:1 reserves with safe assets like cash and short-term US Treasury bonds, and mandates annual financial statement disclosure for larger issuers. This could impose significant regulatory burden on Tether, which has partially held reserves in Bitcoin and gold and continuously faced financial transparency controversies.
Do Kwon's US Criminal Trial May Be Influenced by 'GENIUS Law'
Cointelegraph reported, citing local media Inner City Press, that Do Kwon's criminal trial in the US Southern District of New York could see changes in the indictment. Judge Paul Engelmeyer mentioned being aware of the GENIUS law during a pre-trial conference and suggested it could impact the judgment of Do Kwon's securities fraud charges. The GENIUS law includes legal definitions and application standards for algorithmic stablecoins like TerraUSD (UST). Do Kwon was arrested in Montenegro in 2023 for passport forgery and extradited to the US, facing nine felony charges including securities fraud, market manipulation, and money laundering. He is currently in custody without bail, with the criminal trial scheduled to start in January 2026.
Tether Co-Founder and Former Blackstone Executive Pursue $1 Billion Cryptocurrency Reserve Fund
Ublock reported that the Tether co-founder and a former Blackstone executive are jointly pursuing the creation of a $1 billion listed cryptocurrency reserve fund. They are raising funds through the SPAC M3-Brigade Acquisition and designing the fund to hold various digital assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
BTC Mining Company Bit Digital Shifts Focus to ETH Investment
Nasdaq-listed Bit Digital announced it will reduce Bitcoin mining and become an Ethereum staking and reserve company. According to The Block, as of the end of March, Bit Digital holds 24,434.2 ETH and 417.6 BTC, with plans to convert its BTC holdings to ETH. Bit Digital has been accumulating and staking ETH since 2022.
Prediction Market Kalshi Raises $185 Million in Series C
The Wall Street Journal reported that prediction market platform Kalshi raised $185 million in Series C funding, valuing the company at $2 billion. Paradigm led the round, with participation from Sequoia, Multicoin, Peng Zhao, Neo, and Bond Capital.
Paradigm Invests $100 Million in Kalshi
Unfolded, a cryptocurrency market insight platform, reported that Paradigm will participate in Kalshi's new $100 million investment round. In this round, Kalshi is reportedly valued at over $1 billion.
SoFi Plans to Launch Stablecoin Remittance Service
US fintech platform SoFi announced plans to launch an international remittance service via blockchain and stablecoins by the end of the year. They also suggested potential future services like staking and cryptocurrency-backed loans. Previously, Coinnews reported that SoFi plans to resume cryptocurrency trading services. SoFi had suspended its cryptocurrency services in November 2023.
Zama Raises $57 Million in Investment
Cointddesk reported that open-source cryptography technology developer Zama raised $57 million in a Series B investment round. Blockchain Ventures and Pantera Capital participated as co-lead investors. This investment brings Zama's cumulative funding to $150 million. The specific use of the investment funds was not disclosed.
Moca Network to Launch 'Moca Chain' Specialized in Digital Identity
Blockchain game development and investment company Animoca Brands announced through its official blog that its subsidiary Moca Network (MOCA) plans to launch its own Layer 1 blockchain 'Moca Chain', which is specialized in digital identity, as reported by CoinDesk. Moca Chain focuses on supporting functions that allow user identity information to be verified across multiple blockchain applications. Moca Chain is currently under development, aiming to launch its mainnet by the end of the year, starting with a testnet in the third quarter.
Bernstein raises Coinbase target price from $310 to $510
Bernstein, a research and brokerage firm on Wall Street, raised Coinbase's target price to $510, which is 64% higher than the current price, as reported by CoinDesk. Bernstein stated, "Coinbase is positioning itself as a 'crypto universal bank' that connects retail, institutional, and on-chain infrastructure. Moreover, Coinbase is the only crypto-native company included in the S&P 500 index and continues to lead the US market amid fierce competition."
Bitcoin-stock correlation: A signal of dollar avoidance, not risk appetite
According to CoinTelegraph, as the correlation between Bitcoin and US stocks has recently increased, analysts suggest this is primarily due to weakening confidence in the dollar system rather than investors' preference for risky assets. The media explained, "The 30-day correlation coefficient between Bitcoin and S&P 500 exceeded 0.4 last month, reaching its highest level since 2020. During the same period, the Dollar Index (DXY) hit a 12-month low, with Bitcoin rising 9% and S&P 500 rising 6%. This signals that investors are seeking refuge in scarce assets like Bitcoin when the dollar's value is shaken. The de-dollarization trend centered on BRICS, central banks' increased gold purchases, and sovereign funds considering Bitcoin are also supporting this trend. Ultimately, the concurrent rally of Bitcoin and stocks is not a traditional risk appetite signal, but a fundamental warning about the dollar system."
Powell: "Stablecoin industry has matured and become mainstream in recent years"
Jerome Powell, Chairman of the Federal Reserve, said that "in recent years, the stablecoin industry has entered a mature stage and become closer to the mainstream financial system," as reported by Walter Bloomberg.
Nasdaq-listed Mega Matrix purchases 12 BTC for the first time
Nasdaq-listed blockchain infrastructure development company Mega Matrix (ticker MPU) has purchased 12 BTC for the first time. The average purchase price is $105,554. Previously, Coinness reported that Mega Matrix's board of directors approved a plan to reserve BTC and ETH.
US stock indices close mixed
US stock indices closed mixed.
S&P 500: +0%
Nasdaq: +0.21%
Dow: -0.24%
BTC below $107,000
According to Coinness market monitoring, BTC is trading below $107,000. Based on the Binance USDT market, BTC is trading at $106,954.
Analysis: BTC forming strong pattern, expected to reach $165,000
CoinTelegraph reported that a bullish signal 'bull pennant pattern' has formed on the BTC/USD daily chart. Crypto analyst Jelle stated, "Bitcoin is currently recovering its core support level and has entered a bull pennant pattern on the daily chart. The bull pennant pattern occurs after a sharp rise near the high point, and when the upper boundary is broken, there is a possibility of a strong upward rally. The pattern's target price is approximately 54% higher than the current price, at $165,200."