Potential conflicts of interest in the state’s gubernatorial race and a pro-crypto Super PAC endorsing a Republican candidate for Senate could cloud the 2026 race. Another political action committee (PAC) aligned with the cryptocurrency industry announced its endorsement for a candidate in Ohio’s Senate race, signaling a move that could mirror the 2024 US election. In a Wednesday notice, Sentinel Action Fund, a group that claims to be the “only conservative Super PAC advancing pro-crypto candidates and supporting pro-crypto innovation,” said it would be supporting Republican Jon Husted in this year’s race to represent Ohio in the US Senate. Husted was appointed by Ohio Governor Mike DeWine in January 2025 to replace JD Vance, who was elected vice president alongside US President Donald Trump in his 2024 election win. He still faces a field of Republican candidates ahead of a May 5 primary in Ohio, where former Senator Sherrod Brown will also face off in the Democratic primary against Ron Kincaid. Read more
London-based Legal & General Asset Management is the latest global asset manager to expand distribution across blockchain networks and trading models. London-based Legal & General Asset Management has made its liquidity funds available in tokenized form through Calastone’s blockchain-based distribution network, enabling investors to access and transfer fund shares via digital infrastructure as an alternative to traditional settlement systems. According to Wednesday’s announcement, the tokenized share classes are issued with permissioned access, allowing authorized users to buy, hold and transfer them within a regulated environment, while traditional share classes remain available through existing distribution channels. The funds, denominated in US dollars, euros and British pound sterling, manage more than £50 billion in assets and are designed for capital preservation and same-day liquidity. They invest in high-quality, short-term money market instruments, including government bonds, bank deposits and corpor...
Ether looks poised to gain a price advantage over BTC as the ETH/BTC ratio soars to a 10-week high. The ETH/BTC ratio has climbed to a 10-week high, suggesting that Ether (ETH) is gaining momentum against Bitcoin (BTC) in the charts. Ether’s footing has improved as clearer DeFi regulations from the US Securities and Exchange Commission (SEC) were applauded by the crypto community. At the same time, Bitmine has added 71,524 ETH to its Ether treasury on April 13. The ETH/BTC ratio broke through a descending trendline resistance that had been in place since August 2025. A daily close above this trend line marks the first breakout in months. Read more
New Bitcoin macro analysis found its "addressable market" surpassed the $38 trillion gold market cap, driven by geopolitical instability and financial sanctions. Bitcoin (BTC) has a target market that is “probably a lot bigger” than gold’s $30 trillion market cap, says a crypto industry executive. Key points: Bitcoin should continue to outperform during geopolitical crises, says Bitwise’s Matt Hougan. Read more
The Massachusetts Democrat has been critical of private companies, including non-bank entities, issuing their own dollar-pegged stablecoins. US Senator Elizabeth Warren has asked Elon Musk for information on X Money, a payments feature that is expected to be integrated into the X social media platform in the near future. Warren, who is a longtime critic of Musk and the cryptocurrency industry, wrote in a letter on Tuesday that X Money’s potential stablecoin and crypto integrations could pose risks to the financial system and US national security. She questioned whether the platform would also issue its own stablecoin, under a legal “carveout” in the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which allows private companies to issue their own stablecoins. Warren said X Money’s limited beta preview suggests it will offer 6% interest on deposits and partner with Cross River Bank, which was subject to enforcement action by the Federal Deposit Insurance Corporation (FDIC), a bank...
Bitcoin paused its rally toward new range highs while the S&P 500 came within an inch of a fresh year-to-date high, leading analysts to warn that traders are overconfident. Bitcoin (BTC) circled $74,000 at Wednesday’s Wall Street open as US stocks edged higher on news that the US and Iran may be open to another round of ceasefire negotiations. Key points: Bitcoin consolidates as analysts warn that stocks may be too optimistic over geopolitical relief. Read more