Tornado Cash Can’t Be Sanctioned Again, Texas Judge Rules

According to Cryptoslate, the stablecoin USD1 of World Liberty Financial (WLFI), a cryptocurrency project under the Trump family, has been listed on BNB Chain with a value exceeding $1 billion. On chain data shows that three rapid mints of USD1 have been continuously issued on BNB Chain, and USD1 worth hundreds of millions of dollars has been issued to BNB Chain. Combined with the existing supply on Ethereum, the total market value of USD1 has now exceeded 1.02 billion US dollars. Analysts believe that this move may be part of a broader promotion strategy aimed at expanding the influence of USD1 in DeFi protocols, cross chain liquidity pools, and trading platforms.

According to CoinDesk, Morgan Stanley analyst Kenneth Worthington predicts that Robinhood's (HOOD) record breaking cryptocurrency trading revenue in the fourth quarter of 2024 may be unsustainable, and digital asset trading volume may decline in the first quarter of 2025. The trading platform will release its first quarter financial report after market hours on May 1st Eastern Time. The report shows that Robinhood's cryptocurrency trading revenue surged by 700% in the fourth quarter of last year, driving a significant increase in overall trading revenue. However, due to the impact of the stock and bond double kill in the later part of the first quarter and the cryptocurrency market downturn, it is expected that the cryptocurrency trading volume for the quarter will decrease from $71 billion in the fourth quarter to $52 billion. The size of assets under custody (AUC) is expected to decrease by 5% month on month to $183.3 billion, but still increase by 41% year-on-year. Although retail investors were stimulated to buy in early April due to US tariff policies, analysts believe it will be difficult to reverse the decline in the first quarter. The weak demand for margin and derivative trading may further drag down performance. JPMorgan Chase maintains a "neutral" rating and has lowered its target price by $1 to $44, implying approximately 10% downside potential compared to the current stock price of $49.

According to CoinDesk, fintech company SoFi announced that it will restart its cryptocurrency services and plans to restore customer cryptocurrency asset investment functionality by the end of this year. CEO Anthony Noto stated in a CNBC interview that this return will be more strategic than before the service suspension in 2023, and plans to integrate blockchain technology into all of its major products in the next 24 months. In 2023, SoFi voluntarily suspended trading services for over 20 tokens in order to obtain a US banking license. Noto stated that the new regulations issued by the Office of the Superintendent of the Currency (OCC) in March this year reduced the compliance burden on banks participating in cryptocurrency business, creating conditions for a restart. In addition to trading, SoFi may also launch encrypted payment and encrypted asset lending services.

According to The Block, Kakarot, a zkEVM project supported by Ethereum co founders Vitalik Buterin and StarkWare, has announced the completion of a fully functional implementation of the Ethereum Virtual Machine (EVM), with plans to use the STARK proof system to provide real-time proof of Ethereum Layer1 blocks by the end of 2025. This project is built using the Cairo language developed by StarkWare, aiming to provide a zero knowledge proof solution independent of mainstream technology stacks. Kakarot co-founder Clement Walter stated that the current system is capable of generating block proofs within 8 seconds, faster than Ethereum's 12 second block interval. This project implements technology stack differentiation through Cairo language, avoiding reliance on mainstream solutions such as Plonky3 prover and RISC-V instruction set. Ethereum's 2028 roadmap relies on ZK proofs, and Kakarot claims to have built the "first trusted alternative" to generate zero knowledge proofs for Ethereum blocks compared to mainstream stacks. This progress release comes at a time when the Ethereum community is discussing the RISC-V architecture alternative proposed by Vitalik Buterin. The Kakarot team responded that although it is reasonable for the execution layer to use the ZK friendly instruction set, there is no need to rush to RISC-V.

1. Trump explores encrypted token projects 2. Tether issues 1 billion USDT 3. Unicoin accuses SEC of retaliatory action 4. Tornado Cash no longer subject to sanctions 5. The Federal Reserve expects a slight increase in the March price index 6. Ethereum ETF demand rebounds 7. Pakistan claims India plans attack 8. Cumberland withdraws $50.24 million ETH The above is a selection of hot topics from the past 24 hours. Click to see the full article: https://www.aicoin.com/article/457150