What happened in the crypto markets last week?
#Binance Research’s Weekly Alpha 🧵👇
1/ Macro/TradFi
U.S. GDP shrank 0.3% in Q1 2025, the first negative growth in 3 years, as global trade rifts hit the economy.
2/ Macro/TradFi (Cont.)
SEC Chair @PaulAtkins signals a pro-crypto shift, advocating for clearer digital asset rules and a potential reversal of restrictive policies at a crypto roundtable.
3/ Macro/TradFi (Cont.)
@MorganStanley plans to offer crypto trading via E*Trade by 2026, targeting its wealthiest clients with access to digital assets.
4/ Macro/TradFi (Cont.)
@BlackRock files to offer tokenized shares of its US$150B Treasury Trust Fund through BNY Mellon.
5/ Macro/TradFi (Cont.)
Nasdaq files a 19b-4 proposal to list shares of @21Shares’ Dogecoin ETF—Bloomberg analysts estimate a 75% approval chance, though the SEC delayed Bitwise’s app.
6/ Macro/TradFi (Cont.)
@21Shares also files for a spot SUI ETF in the U.S., expanding beyond BTC and ETH.
7/ Macro/TradFi (Cont.)
@Strategy acquired 15,355 BTC for US$1.42B, bringing its total to 553,555 BTC (US$52B), funded by selling US$1.4B in class A stock and US$37.5M in STRK shares.
8/ L1/L2
Developers introduce Ethereum R1, a new Layer 2 solution to boost scalability and cut transaction costs on Ethereum.
9/ L1/L2 (Cont.)
@1inch launches on Solana, enabling cross-chain swaps.
10/ L1/L2 (Cont.)
Sony’s @soneium blockchain partners with @PlumeNetwork to offer real-world asset (RWA) products.
11/ Stablecoins
The U.S. Senate, led by Majority Leader John Thune, may soon vote on stablecoin issuer regulations.
12/ Stablecoins (Cont.)
@Tether_to’s gold-backed XAUT stablecoin holds 7.7 tons of reserves after Q1.
13/ Stablecoins (Cont.)
@Ethena_ partners with @TON_Blockchain to bring USDe to Telegram users.
14/ Stablecoins (Cont.)
@Mastercard integrates stablecoins into its global payments network to streamline cross-border transactions.
15/ Stablecoins (Cont.)
Hong Kong proposes a 2025 licensing regime for stablecoin issuers with penalties for non-compliance.
16/ Stablecoins (Cont.)
The EU considers stricter stablecoin rules, potentially requiring higher reserves and transaction limits.
17/ Others
@ARKInvest raises its 2030 bull-case #Bitcoin price projection to US$2.4M, citing institutional adoption.
18/ Others (Cont.)
@Worldcoin launches in the U.S. with Sam Altman’s eye-scanning tech.
19/ Others (Cont.)
@Strategy reports a Q1 earnings miss but raises its 2025 bitcoin gain target to US$15B, betting on long-term growth.
20/ Interested to learn more? Be sure to check out the Binance Research website for more project and macro research reports.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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