US Senators propose to amend the GENIUS Act; BlackRock increases holdings by 9,989 ETH

Headline

▌U.S. Senators propose to amend the GENIUS Act to prevent the Trump family from profiting from stablecoins

U.S. Senate Minority Leader Chuck Schumer, Elizabeth Warren and Jeff Merkley will propose to amend the GENIUS Act to prevent the U.S. president from profiting from stablecoins. Merkley said: "If the anti-corruption amendment is not included, it is equivalent to Congress stamping Trump's influence to the highest bidder." 

Trump and his three sons are involved in the World Liberty Financial (WLFI) platform, which launched the USD1 stablecoin in March. Critics point out that if the relevant legislation recognizes USD1 as a financial instrument, the president may benefit from it.

▌BlackRock increased its holdings by 9,989 ETH, worth approximately $26.47 million

According to Arkham monitoring data, about two hours ago, BlackRock increased its holdings by 9,989 ETH from the Coinbase Prime hot wallet address through its Ethereum exchange-traded fund ETHA, worth $26.47 million. Historical trading data shows that this is the third consecutive day that BlackRock has increased its holdings of ETH. In the previous two days, it had increased its holdings by 5,449 ETH and 8,162 ETH, worth approximately $34.34 million.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $111,651, with a daily increase or decrease of +1.6%;

ETH's latest transaction price is $2,660.18, with a daily increase or decrease of +4.1%;

BNB's latest transaction price is $685.56, with a daily increase or decrease of +1.6%;

SOL's latest transaction price is $180.05, with a daily increase or decrease of +3.6%；

DOGE's latest transaction price is 0.2459 US dollars, with a daily increase or decrease of +4.4%；

XPR's latest transaction price is 2.43 US dollars, with a daily increase or decrease of +1.4%.

Policy

▌Bloomberg Analyst: Multiple Crypto ETFs Have Again Been Delayed by the US SEC

According to Bloomberg analyst James Seyffart, "As expected, multiple crypto ETFs were again delayed by the US SEC today, including Bitwise and CoinShares' XRP ETF, Litecoin ETF, and Fidelity Bitcoin ETF's physical redemption applications."

▌US Democratic Leader Proposes Bill to Combat "Crypto Corruption"

US Democratic leader Rep. Maxine Waters has proposed a new bill to address concerns about the president's involvement in digital assets and call for an end to "cryptocurrency corruption." Waters and 14 other Democratic co-sponsors proposed the Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025. The bill aims to prohibit the president, vice president, members of Congress and their immediate family from "holding a proportion sufficient to allow them to unilaterally change digital assets", as well as other related provisions.

▌Trump: The United States dominates in areas such as cryptocurrency and Bitcoin

Trump posted on his social media TruthSocial, "I will go to Loudoun County, Virginia for a cryptocurrency dinner in a while. The United States dominates in areas such as cryptocurrency and Bitcoin, and we will continue this momentum."

Blockchain Applications

▌Wormhole announced that it will introduce DOGE with a market value of $35 billion into the Solana ecosystem

Wormhole announced today that it will introduce DOGE with a market value of $35 billion into the Solana ecosystem through its Native Token Transfers (NTT) framework and zero-knowledge proof (ZKPs) technology developed by Psy and RISC Zero. DOGE will become a native asset of Solana, significantly improving its practicality and accessibility in the broader crypto market.  

Wormhole co-founder Robinson Burkey said: "Bringing DOGE to Solana combines two industry giants - the leading blockchain by transaction volume and the top ten digital asset by market capitalization." 

Wormhole said, "It has introduced more than $11.5 billion in capital to the Solana ecosystem and is currently the largest cross-chain interoperability infrastructure platform. Its NTT framework supports frictionless transfer of multi-chain tokens, maintains ownership and contract upgrade capabilities, and provides greater flexibility to the market."

Cryptocurrency

▌Centrifuge Expands RWA of $400 Million U.S. Treasury Bond Fund to Solana

RWA platform Centrifuge announced the expansion of its tokenized asset services to the Solana blockchain, starting with the $400 million tokenized U.S. Treasury Bond Fund (JTRSY) managed by Anemoy. The fund’s corresponding deJTRSY token will allow Solana users to earn yield on short-term treasuries on platforms such as Raydium, Kamino and Lulo. Centrifuge said the expansion is based on its “deRWA token” standard, which allows tokens to be freely transferred and used between DeFi protocols. The Solana Foundation also partnered with R3, a blockchain technology company focused on banks, this week to introduce real-world assets, and the Apollo Credit Asset Fund issued by Securitize will also be connected to the DeFi protocol of the Solana ecosystem.

▌BNP Paribas Asset Management Issues Tokenized Money Market Fund Units on Allfunds Blockchain

BNP Paribas Asset Management (BNPP AM) has issued a native digital unit of a money market fund (MMF) on the Allfunds blockchain. Most tokenized funds are based on existing funds, but this time a new native digital unit was created. The new unit was then used in a cross-border transaction with a French counterparty.  

BNPP AM served as transfer agent and transaction service provider, with Allfunds Blockchain as the technical partner. The appeal of this scheme is that it can improve efficiency and shift from bulk subscription and redemption to instant transactions at net value. In addition, once the European Central Bank launches a wholesale DLT settlement scheme, faster settlement is expected.  

BNPP AM is also exploring the potential of MMF tokenization to attract crypto-native institutions and retail investors.

▌The Blockchain Group, Europe's first Bitcoin fund company, increased its holdings by 227 Bitcoins

According to Cointelegraph, The Blockchain Group, Europe's first Bitcoin fund company, recently spent 21.2 million euros to purchase 227 Bitcoins, bringing its total holdings to 847.

▌El Salvador has increased its holdings of 8 bitcoins in the past 7 days, with a total holding of 6,185.18 bitcoins

According to the website of the Ministry of Finance of El Salvador, El Salvador has increased its holdings of 8 bitcoins in the past 7 days, and currently holds 6,185.18 bitcoins, with a total value of US$690 million. In the past 30 days, El Salvador has accumulated 31 bitcoins.

Important Economic Dynamics

▌US media: Trump enters with a huge sum of US$600 million and vows to win the Senate and House in the mid-term elections

According to the Associated Press, three people familiar with the matter revealed that US President Trump has raised at least US$600 million in political donations for the mid-term elections. This is an unprecedented figure in modern politics, especially for a "lame duck" president who is prohibited from running for re-election by the US Constitution. According to people familiar with the matter, Trump's ultimate goal is to raise US$1 billion or more and control the Senate and House in November next year. Trump is eager to reverse the trend of Republican candidates being frequently surpassed by Democrats and hopes to maximize his presidential influence. The remaining funds after the end of his term can help him maintain his huge influence on the Republican Party and consolidate his position as the most influential decision-maker and potential sponsor in 2028 and beyond.

▌Federal Reserve officials: encourage institutions to actively use SRF tools to meet market liquidity challenges

Roberto Pelley, an official in charge of monetary policy at the New York Federal Reserve, said on Thursday that although market liquidity is still abundant, the Federal Reserve is encouraging financial institutions to use the Standing Repurchase Facility (SRF) more actively when appropriate. Pelley pointed out: "I encourage counterparties to use the SRF when it is economically reasonable. This tool exists to support the effective implementation of monetary policy and promote the smooth operation of the market. If the SRF can work as designed, it will be in the best interests of everyone." In his speech, Pelley reiterated that the New York Federal Reserve will adjust its operating arrangements in the near future to extend the SRF operations currently only conducted in the afternoon to the morning session and complete settlement on the same day. This is an important step to improve the effectiveness of the tool and, at the margin, help the Fed maintain a relatively smaller balance sheet. Pelley noted that continued balance sheet reduction may still have some way to go, despite signs that money market liquidity is tightening. As the Fed shrinks its balance sheet and reduces reserve levels, upward pressure on money market rates may increase.

▌Trump wants to clear the way for firing Powell. U.S. Supreme Court: The Federal Reserve is unique

The U.S. Supreme Court ruled on Thursday that the Federal Reserve is unique among government agencies. The court's ruling involved cases of leaders of independent agencies who were removed from office by Trump. The court ruled that the officials could still be removed from office before the case was fully heard. But the Federal Reserve is different. According to court documents, "the Federal Reserve is a uniquely structured quasi-private entity." President Trump has repeatedly criticized Powell and said in April that "it can't be fired fast enough."

Golden Encyclopedia

▌What is RISC-V?

RISC-V is a modern open source instruction set architecture (ISA) based on the principles of reduced instruction set computers (RISC). Simply put, it is like a blueprint that defines a set of instructions that a processor can execute. RISC-V is designed to be highly modular, efficient and flexible. Originally developed by the University of California in 2010, the open-source framework gives developers the flexibility to customize its functionality and use cases, and it also saves costs compared to proprietary ISAs such as ARM or x86. RISC-V has a wide range of uses, from supercomputers to smartphones, and now blockchains such as Ethereum. On April 20, 2025, Ethereum co-founder Vitalik Buterin announced a "radical" new expansion plan that will replace the Ethereum Virtual Machine (EVM) with the RISC-V instruction set architecture, aiming to improve the speed and efficiency of the network's execution layer. The idea is that RISC-V is the best solution to the scalability limitations of blockchains.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish the correct investment concept and be sure to increase risk awareness.