📜 North Carolina House Approves State Crypto Investment Bill

North Carolina’s House passed the Digital Assets Investment Act, allowing the state treasurer to invest up to 5% of public funds in approved cryptocurrencies. The bill now moves to the Senate, North Carolina follows Arizona, where crypto investment bills await the governor's approval.

💵 Tether Reports $1B Q1 Profit

Tether’s Q1 2025 report shows $120B in U.S. Treasury exposure and $1B in profit. USDT’s supply grew by $7B, with 46M new wallets. Meanwhile, USDT and USDC now dominate 87% of the stablecoin market.

📉 Coinbase to Suspend MOVE Token Trading

Coinbase will suspend trading of Movement Network’s MOVE token on May 15, citing it no longer meets listing standards. The token fell 14.5% following the news. A third party investigation into a past market making deal linked to its December 2024 price crash is still ongoing.

💥 Ripple’s $5B Bid to Acquire Circle Rejected

Ripple reportedly made a $4–$5 billion offer to acquire USDC issuer Circle, but the bid was rejected as too low, according to Bloomberg. The attempt came shortly after Circle filed for a U.S. IPO. Ripple hasn’t confirmed plans for another offer.

🪙 SEC Drops Probe Into PayPal’s Stablecoin

PayPal says the SEC has officially closed its investigation into its PYUSD stablecoin with no enforcement action. The probe began in November 2023 with a subpoena, but PayPal was informed in February that the case was dropped.