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Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$96,855.98 as markets wrapped for the day, up 0.5 percent in 24 hours. The day's range has seen a low of US$96,855.69 and a high of US$97,281.99.

Bitcoin network economist Timothy Peterson suggests that Bitcoin could reach a new all-time high, potentially reaching US$135,000 in the event of a short squeeze in the next 100 days.

His broader outlook is partly based on low market volatility, indicating risk appetite.

Ethereum (ETH) ended the day at US$1,839.38, a 0.5 percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$1,834 and reached its daily high of US$1,865.38.

Altcoin price update

• Solana (SOL) ended the day valued at US$148.08, down 1.4 percent over 24 hours. SOL experienced a low of US$147.97 and peaked at $151.55.

• XRP traded at US$2.21, reflecting a 0.6 percent decrease over 24 hours. The cryptocurrency recorded an intraday low of US$2.20 and reached its highest point at US$2.24.

• Sui (SUI) was priced at US$3.42, showing a decreaseof 6.7 percent over the past 24 hours. It achieved a daily low of US$3.41 and a high of US$3.49.

• Cardano (ADA) was trading at US$0.6913, down 1.9 percent over the past 24 hours, and its lowest price of the day. It reached a high of US$0.7149.

Today's crypto news to know

Trump-backed stablecoin triggers US$2 Billion UAE deal

MGX, a United Arab Emirates (UAE) investment firm tied to Abu Dhabi’s sovereign wealth fund, has committed to a US$2 billion investment in Binance — and it’s doing so using “USD1,” a stablecoin controlled by the Trump family.

The coin was developed by World Liberty Financial, a company where Trump is listed as “chief crypto advocate” and his sons serve as “Web3 ambassadors.” The token, launched shortly after Trump’s re-election, has already sold over US$550 million worth of coins — much of it after November.

The deal was announced in Dubai by Zach Witkoff, son of Trump’s former envoy to the Middle East, who appeared on stage with Eric Trump. Democrats have accused the move of being a front for corruption, with Senator Elizabeth Warren calling it “a shady deal backed by a foreign government.”

With Trump set to visit the UAE and Saudi Arabia in two weeks, critics say the overlap between his private interests and foreign diplomacy has never been more naked.

Strategy doubles down on Bitcoin with fresh US$21 billion raise

Michael Saylor’s Strategy (NASDAQ:MSTR) reported a US$16.5 billion quarterly loss and a massive US$5.9 billion writedown on its Bitcoin stash — but that hasn’t slowed its hunger for more.

Instead, the firm announced a new US$21 billion stock offering, the proceeds of which will go toward purchasing even more Bitcoin. As of April, Strategy held 553,555 BTC acquired at an average cost of US$68,459 — now worth around US$53 billion at current prices. The company is targeting a 25 percent BTC yield and a US$15 billion gain by the end of the year, signaling a long-term vision despite short-term pain.

Morgan Stanley moves toward crypto trading on E*Trade

Morgan Stanley (NYSE:MS) is reportedly gearing up to launch direct crypto trading for users of E*Trade, its retail investment arm, in a major leap toward integrating digital assets with mainstream finance.

The bank, which acquired E*Trade in 2020, currently only offers crypto ETF access, but new plans would allow clients to buy and sell actual tokens. Insiders say Morgan Stanley is in talks with multiple crypto-native firms to provide backend infrastructure, signaling a shift from hesitancy to full participation. The move comes just days after the US Federal Reserve scrapped prior crypto-related restrictions, effectively greenlighting banks to enter the space.

With more than 5 million active users, E*Trade could become one of the largest onramps into crypto for average investors if the plan moves forward.

CIA deputy director discusses Bitcoin's role in intelligence

During an appearance on Anthony Pompliano’s podcast, Michael Ellis, deputy director of the US Central Intelligence Agency (CIA), said the agency is increasingly incorporating Bitcoin as a tool in its counter-intelligence operations, also noting that working with the cryptocurrency is a matter of national security.

“People may have thought Bitcoin was anonymous, but I'd say it's synonymous, and there's a lot of work that we do with law enforcement to try to track illicit crypto payments by bad actors,” he said.

“Whether they're drug cartels or terrorist groups, outlaw regimes use cryptocurrency," Ellis continued.

“There is tremendous potential for law enforcement and the intelligence community to be able to use cryptocurrency to help track what our adversaries are doing to disrupt it.”

Coinbase to delist MOVE token

Coinbase Global (NASDAQ:COIN) will halt trading of the Movement Network token (MOVE) starting May 15.

In a Thursday (May 1) announcement on X, the exchange said the decision is due to MOVE’s inability to meet its listing requirements. Following this news, the price of MOVE dropped to below US$0.20.

Later, Movement Labs confirmed the suspension of co-founder Rushi Manche due to a controversial market maker agreement he facilitated, which led to an external investigation and Coinbase's delisting.

Metaplanet issues bonds to increase Bitcoin holdings

Japan’s Metaplanet (OTCQX:MTPLF,TSE:3350) issued 3.6 billion yen, equivalent to roughly US$25 million, in bonds on Friday, earmarked to buy more Bitcoin. The newly issued bonds, which according to a filing were sold entirely to EVO FUND, carry no interest and can be redeemed at par value by October 31, 2025.

Metaplanet has been actively acquiring Bitcoin throughout 2025 and currently holds 5,000 BTC worth over US$485 million following its most recent purchase of 330 BTC on April 20.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$93,992.22 as markets closed for the day, down 1.3 percent in 24 hours. The day's range has seen a low of US$93,333.62 and a high of US$94,464.34.

Cryptocurrencies have fallen slightly after the US Department of Commerce revealed that US gross domestic product declined by 0.3 percent in Q1, in contrast to economists’ expectations for a 0.4 percent gain.

Wednesday's reading marks the first decline since Q1 2022. “Multiple indicators are now showing a recession to be the base case expectation in 2025,” according to the Kobeissi Letter.

Ethereum (ETH) ended the day at US$1,782.75, a 1.9 percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$1,750.28 and reached its daily high as the markets wrapped.

Altcoin price update

• Solana (SOL) ended the day valued at US$145.18, down 2.5 percent over 24 hours. SOL experienced a low of US$141.31 and peaked at $145.61.

• XRP traded at US$2.19, reflecting a 4.3 percent decrease over 24 hours. The cryptocurrency recorded an intraday low of US$2.15 and reached its highest point at US$2.20.

• Sui (SUI) was priced at US$3.41, showing a decreaseof four percent over the past 24 hours. It achieved a daily low of US$3.32 and a high of US$3.46.

• Cardano (ADA) was trading at US$0.6808, down 3.6 percent over the past 24 hours. Its lowest price on Wednesday was US$0.6711, with a high of US$0.6862.

Today's crypto news to know

Grayscale launches Bitcoin Adopters ETF

On Wednesday, Grayscale announced the launch of the Grayscale Bitcoin Adopters ETF on the NYSE Arca under the ticker symbol BCOR. The fund is based on the Indxx Bitcoin Adopters Index.

The launch of this exchange-traded fund (ETF) represents the growing interest in Bitcoin among corporations. According to Rahul Sen Sharma, president and Co-CEO at Indxx, public companies’ Bitcoin holdings increased by 16.1 percent in the year's first quarter, valued at approximately US$57 billion. Roughly 3 percent of Bitcoin's total supply is now held by companies globally, indicating a major shift in corporate treasury management.

“Bitcoin adoption as a corporate treasury asset is rapidly growing as companies seek to hedge against inflation, currency debasement, and geopolitical risks,” said Vaibhav Agarwal, head of products and innovation at Indxx, in exclusive correspondence with the Investing News Network. “Its fixed supply and decentralized nature make it an attractive store of value, with corporate holdings surging over 587 percent since 2020, signaling a global shift in treasury management strategies. (The) BCOR ETF, based on the Indxx Bitcoin Adopters Index, provides investors with a ready opportunity to take advantage of and exposure to this rapidly growing trend in a liquid, transparent manner.”

Tether announces plans for US dollar stablecoin

Tether CEO Paolo Ardoino announced in a CNBC interview on Wednesday afternoon that his company plans to launch a US dollar stablecoin in the US as early as the end of this year or in early 2026.

Tether's existing USDT stablecoin is the leading US dollar exporter with a market cap of nearly US$150 billion; however, it is overshadowed in the US by Circle’s rival product, USDC.

Ardoino told CNBC that USDT was created for smaller, developing economies, and that its new product will be designed with features that cater specifically to the US market.

SEC postpones decisions on XRP and DOGE ETFs

The US Securities and Exchange Commission (SEC) has extended its review period for two proposed spot cryptocurrency exchange-traded funds (ETFs) tied to XRP and Dogecoin, delaying any decision until mid-June.

The agency cited a need for more time to evaluate the filings, specifically the Bitwise DOGE ETF and the Franklin XRP Fund, and the legal issues they raise.

Under federal securities law, the SEC is allowed up to 90 days from the initial publication to make a decision, and this delay appears to fall within that window. Analysts speculated that the delay was anticipated and aligns with broader expectations that most final rulings will land in the fall.

While DOGE and XRP prices saw little immediate movement, the delay signals the SEC’s continued caution around expanding ETF offerings beyond Bitcoin and Ethereum.

Kraken launches "Embed" service to let banks offer crypto trading

Crypto exchange Kraken is opening a new front in institutional crypto adoption with the launch of “Embed,” a plug-and-play crypto trading service for fintechs, neobanks, and traditional financial institutions.

Announced on Wednesday, the service enables companies to integrate crypto trading directly into their apps and websites using Kraken’s APIs, bypassing the need to build costly infrastructure or secure their own licenses.

Amsterdam-based digital bank Bunq is the first to roll out the new service, debuting "Bunq Crypto" to let European users trade digital assets within its existing app.

According to Kraken’s head of payments, Brett McLain, the goal is to offer access to a wide range of tokens and fast asset listings, which he says sets Kraken apart from other white-label providers like Bitpanda.

Embed customers will pay variable service fees and share a portion of trading revenues with Kraken.

KuCoin pledges US$2 billion to Trust project

KuCoin announced a bold US$2 billion investment into what it’s calling the “Trust Project,” a sweeping initiative to restore user confidence and improve transparency across its platform.

The announcement was made during the TOKEN2049 conference in Dubai, where KuCoin executives laid out a roadmap focused on regulatory alignment, user protection, and responsible innovation.

A major component of the project involves giving the exchange’s native token, KCS, a larger role in governance, risk mitigation, and user reward structures. CEO BC Wong said the investment is aimed at securing the “long-term health” of the digital asset ecosystem by strengthening accountability and neutralizing systemic risks.

The initiative arrives as global regulators intensify their scrutiny of centralized exchanges and demand higher standards for custody, disclosures, and user safeguards.

Nasdaq files to list 21Shares Dogecoin ETF

In a fresh bid to tap into retail enthusiasm for meme coins, the Nasdaq has submitted a formal application with the SEC to list the 21Shares Dogecoin ETF, according to a 19b-4 filing released Tuesday.

The ETF is designed to track Dogecoin’s market performance via the CF DOGE-Dollar Settlement Price Index and will hold the token directly, without using leverage or derivatives.

Coinbase Custody Trust has been named as the fund’s official custodian, offering added legitimacy and security to the proposed vehicle. The filing comes in the wake of 21Shares' S-1 registration and its partnership with the House of Doge — a corporate arm of the Dogecoin Foundation — to promote the fund.

Although the SEC recently delayed a decision on Bitwise’s similar DOGE ETF, Nasdaq’s move signals sustained momentum behind bringing more meme coin exposure to regulated markets.