USD1 stablecoin, an asset associated with World Liberty Financial (WFLI), is set to go multi-chain through its latest integration with Chainlink. Already tagged as the fastest stablecoin to grow from a $0 valuation to $2 billion, the new integration will help expand its reach to new users and institutions in the industry. USD1 has been making headlines recently amid a growing trend around stablecoin evolution in the United States. World Liberty Financial and the Chainlink Deal According to the announcement, the collaboration between both entities will see USD1 utilize the Chainlink Cross-Chain Interoperability Protocol (CCIP). Specifically, it will be used for secure data feeds and for bridging from one blockchain to another. Earlier this month, USD1 ranks as top 5 in the stablecoin world, a feat it achieved within months of its launch. The adoption of the token by both retail and institutional investors has seen it launch on top… Read More at Coingape.com
The US state of Florida has removed two bills relating to Bitcoin reserve from the crypto-legislative process, which could be a major blow to America’s ambitious crypto reserve plans. House Bill 487 and Senate Bill 550, proposals aimed at creating a state-held Bitcoin fund, will not move forward for an indefinite period.
Florida Says No To Bitcoin Reserves
Earlier this year, Florida lawmakers introduced two bills – House Bill 487 and Senate Bill 550 – in a push towards building the state’s own Bitcoin fund.
Introduced in February, House Bill 487 sought to permit Florida’s chief financial officer and the State Board of Administration to allocate up to 10% of specific state funds into Bitcoin. Similarly, Senate Bill 550 aimed to authorize the investment of public funds in Bitcoin. However, the Florida Senate has decided not to move ahead with any Bitcoin reserve plans as of now.
What Are Other US States Doing?
Florida has joined the list of states that have stepped back from passing state-level crypto investment legislation. Alongside Wyoming, South Dakota, North Dakota, Pennsylvania, Montana, and Oklahoma, Bitcoin-related bills in these states have failed to clear House or Senate votes. Last week, Roswell became the first US city to build its Bitcoin fund, holding BTC as reserves.
Source: Bitcoin Archive
Just days after Arizona made significant progress on its strategic Bitcoin reserve legislation, Governor Katie Hobbs vetoed House Bill 1025 on May 3, citing digital assets as “untested investments.” The Digital Assets Strategic Reserve bill aimed to allow Arizona to invest seized funds in Bitcoin, creating a state-managed reserve overseen by officials.
Will Scott Bessent Approve Crypto Reserve Plans?
Following U.S. President Donald Trump’s executive order in March 2025, US Treasury Secretary Scott Bessent was set to deliver an assessment on the Bitcoin reserve plan yesterday, per the May 5 deadline. However, no official announcement has been made so far in this regard by him.
The upcoming report from the U.S. Treasury Secretary on a Strategic BTC Reserve will deliver key insights into its legal and investment framework. The evaluation will outline suitable accounts for custody and management of the assets while assessing whether legislative changes are required to ensure the project’s viability.
As of now, Bitcoin price is flirting around $94,000 levels. Thus, any decision on the reserve plan could serve as a major catalyst for a new BTC all-time high.
DeFi Development Corp. (formerly Janover Inc.) is trying to raise $1 billion by selling securities to buy Solana (SOL) over time.
Earlier today, a report from Coinbase claimed that the firm had already raised $42 million for SOL purchases with similar sales. Apparently, these operations were only the beginning of a much larger ambition.
DeFi Development Bets Hard on Solana
In a trend that the crypto community is calling “Solana MSTR,” corporate actors have been buying SOL tokens.
“[DeFi Development] has adopted a treasury policy under which the principal holding in its treasury reserve on the balance sheet will be allocated to digital assets, starting with Solana. The Board of Directors approved the Company’s new treasury policy on April 4, 2025, authorizing long-term accumulation of Solana,” the filing claims.
In addition to selling up to $1 billion in securities, DeFi Development plans to register up to 1,244,471 shares of common stock for potential resale by existing stockholders to use this liquidity to buy Solana.
Specific details about each offering will appear in a supplement provided at the time of sale.
Coinbase noticed DeFi Development’s Solana ambitions and described them in a report released earlier today. The report described the company’s efforts to raise $42 million in convertible notes, using those funds to build an SOL reserve.
The company recently changed its name from Janover, and it now trades on the Nasdaq under the symbol DFDV. DeFi Development also aims to operate one or more Solana validators, enabling it to stake its treasury assets, participate in securing the network, and earn rewards that can be reinvested.
Corporate Solana investment is tiny compared to Bitcoin, but DeFi Development may just be its first whale. MicroStrategy’s plan to become a massive BTC holder didn’t just change its own character; it also transformed Bitcoin.
Pi Network has recently witnessed a 12% price rally, briefly reaching $0.65 during intra-day trading, only to fall back down to $0.61. Despite this uptick, the altcoin has struggled to break free from consolidation, as weak investor sentiment continues to weigh heavily on its price.
A glimmer of hope comes from an ecosystem announcement scheduled for May 14, which could offer some positive news and potentially trigger a more substantial rally.
Pi Network Is Losing Investor Interest
Investor sentiment surrounding Pi Network has been weak for the past month, with little to no interest from the broader market. This lack of enthusiasm has hindered the altcoin’s ability to break free from consolidation and achieve a sustained price increase.
This investor apathy has created a significant challenge for Pi Network, as it lacks the backing needed to push its price higher. While the market has shown some bullish tendencies, especially following the US Federal Reserve’s decision to keep interest rates unchanged, Pi Network has struggled to translate this into sustained momentum.
The overall macro momentum of Pi Network shows mixed signals. On the one hand, the MACD (Moving Average Convergence Divergence) indicator barely exhibits bullishness, with the histogram showing small green bars. While this suggests slight positive momentum, it is not enough to trigger a rally.
This indicates that the market’s broader bullish cues are preventing a bearish crossover, helping to keep Pi Network’s price afloat despite investor hesitation. However, the lack of strong bullish signals from the MACD means that Pi Network is still struggling to gain significant upward traction.
Pi Network’s price grew by 12% over the last 24 hours, briefly reaching $0.65 before falling back to $0.61. This uptick was fueled by broader market bullishness following the US Federal Reserve’s decision to keep interest rates unchanged. However, the altcoin has struggled to maintain its gains, indicating a lack of strong support from investors to push the price higher.
Pi Network continues to consolidate, stuck between $0.61 and $0.57. This ongoing range-bound movement suggests that the altcoin lacks sufficient momentum to break out of its consolidation phase. The price will likely continue moving within this range unless both market and investor support are bolstered, which remains uncertain at this point.
On the other hand, Pi Network could invalidate the bearish outlook if it secures $0.61 as support and begins to rise towards $0.71. Successfully breaching $0.71 could instill confidence in investors, potentially triggering a more substantial rally. However, without a clear shift in sentiment, the price may continue to struggle.
