Bitcoin at $105,222!

The Fear & Greed Index is at 74 – Greed, reflecting strong investor sentiment as stablecoin strategies, tokenized assets, and regulatory frameworks dominate the headlines.

Tether surpasses Germany in U.S. Treasury holdings

Tether now holds over $120 billion in U.S. Treasury bills, overtaking Germany’s $111 billion and ranking 19th globally.

• This move reflects Tether’s conservative reserve strategy and its growing role in global dollar liquidity.
• Tether reported $1 billion in profit from traditional investments in Q1 2025, helping offset crypto market volatility.
• The Stablecoin Transparency Act is moving forward in Congress, but the GENIUS Act has stalled due to political concerns around Trump’s crypto ties.
• At least 60 crypto founders rallied in Washington to support regulatory clarity and stablecoin adoption.

MiCA regulation enters enforcement – Is Europe ready?

While Tether skips MiCA compliance, companies like BitGo embrace it, highlighting a major split in strategy.

• From January 2025, crypto service providers need licenses to operate in the EU, with strict rules around stablecoins and reserves.
• Tether’s USDT may be delisted across the EU due to non-compliance, impacting liquidity and DeFi.
• BitGo secured a MiCA-compliant license in Germany, aiming to serve institutional players in Europe.
• Industry leaders stress the need for consistent implementation across EU member states to avoid regulatory fragmentation.

VanEck launches tokenized RWA fund

VanEck unveiled its VBILL fund offering tokenized U.S. Treasuries, in partnership with Securitize.

• The fund will be available on Avalanche, Ethereum, BNB Chain, and Solana with minimums starting at $100,000.
• VBILL joins a growing class of tokenized funds competing with BlackRock’s BUIDL and Franklin Templeton’s BENJI.
• SEC Chair Paul Atkins likened the shift to onchain securities to the digital transformation of the music industry, highlighting the innovation potential.
• Tokenized real-world assets continue gaining traction as institutions seek faster settlement and improved liquidity.