Welcome to your daily crypto news digest. Here's what's making waves in the blockchain world today.
TON has announced that the Toncoin Bridge will officially cease operations on May 10, 2025. Following this date, users will no longer be able to bridge Toncoin between TON and Ethereum or BNB Smart Chain. Despite the shutdown, assets already bridged will remain claimable for users.
While bridging into TON will still be possible for now, the platform has stated that a separate end date for this feature will be announced in the future. Users are encouraged to stay informed about updates from TON regarding this transition.
Note: This change is part of TON's ongoing efforts to restructure its bridging services and streamline its operations.
On April 22, 2025, the SPDR Gold Shares ETF (GLD), the world’s largest gold exchange-traded fund, experienced an unprecedented $1.3 billion in outflows. This marks the largest single-day withdrawal from GLD since 2011.
The massive withdrawal comes as investors pivot away from safe-haven assets like gold and into equities. Analysts attribute this rotation to easing global trade tensions, which have renewed investor confidence in riskier asset classes such as stocks.
Over the past few years, gold has served as a hedge against economic and geopolitical uncertainty. However, the recent easing of trade-related concerns appears to have diminished the appeal of gold as a protective measure, prompting a significant reallocation of capital.
This shift raises questions about the future direction of both gold and equity markets. While gold prices have seen strong support in times of uncertainty, a sustained move toward equities could put downward pressure on precious metals.
Market watchers will be keeping a close eye on how this trend develops, particularly in light of ongoing macroeconomic factors that continue to shape global financial markets.
Michael Saylor’s company, Strategy, has achieved a significant milestone as its Bitcoin portfolio surpassed the $50 billion mark for the first time. This sets a new all-time high for the firm’s cryptocurrency holdings.
As a vocal advocate for Bitcoin, Saylor has consistently championed the cryptocurrency as a store of value and a hedge against inflation. This milestone underscores the firm’s long-term commitment to Bitcoin and its strategy of accumulating the digital asset.
This achievement comes amid growing institutional interest in Bitcoin and reflects the broader adoption of cryptocurrency in corporate treasury management.
Stay tuned for further updates as Strategy continues its Bitcoin journey.
KuCoin, a leading global cryptocurrency exchange, has officially launched a fully licensed crypto trading platform in Thailand. This marks a significant milestone, as KuCoin becomes one of the few international exchanges to receive approval from Thailand's Securities and Exchange Commission (SEC).
The newly launched platform offers a range of features tailored to the local market, including:
- Support for Local Fiat Currency: Enabling seamless fiat-to-crypto transactions for Thai users.
- Crypto Trading Services: A comprehensive suite of trading options for both new and experienced traders.
- Thai-Language Support: Providing a localized experience to better serve the needs of Thai customers.
This strategic move underscores KuCoin's commitment to regulatory compliance and expanding its footprint in Southeast Asia's growing cryptocurrency market. By adhering to local laws and gaining SEC approval, KuCoin aims to provide a secure and trustworthy platform for Thai users.
The launch is expected to strengthen KuCoin's position in the region while fostering broader adoption of cryptocurrency in Thailand.
In a significant policy shift, the U.S. Federal Reserve has officially withdrawn its 2022–2023 guidance that required banks to seek approval before engaging in cryptocurrency or stablecoin-related activities. This decision effectively removes the prior regulatory hurdle for financial institutions exploring opportunities in the digital asset space.
The move brings the Federal Reserve's stance in line with the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), two other key U.S. financial regulators. It reflects an ongoing effort to create a cohesive regulatory framework for financial innovation, particularly in the burgeoning crypto sector.
This policy adjustment also underscores the lingering influence of the Trump administration's pro-innovation approach, which aimed to foster growth and exploration in the financial technology space. By removing these specific requirements, U.S. regulators appear to be signaling a more open stance toward cryptocurrency and stablecoin activities within the banking industry.
Follow our Steem account @ireh for daily crypto updates and insights.