đ MARKET MOVING NEWS! (05/04/25)
đ đFOLLOW FOR MORE MARKET MOVING NEWS đ
1ïžâŁ PayPal, Venmo To Roll Out Solana, Chainlink Transfers âš
Global payments platform PayPal and Venmo have reportedly expanded their cryptocurrency offerings to include Chainlinkâs LINK and Solanaâs SOL. U.S. users will now have the ability to buy, sell and transfer the popular tokens. Support for the tokens is expected to be rolled out over the next few weeks.
May Zabaneh, PayPalâs VP of product, blockchain, crypto and digital currencies stated,
Since we initially made cryptocurrencies available on PayPal and Venmo, weâve been listening to our users about what they want to do with crypto on our platforms. Offering more tokens on PayPal and Venmo provides users with greater flexibility, choice, and access to digital currencies. This allows for more options to buy, send, or spend within our trusted PayPal and Venmo wallets.
2ïžâŁ Stablecoins Are Not Securities: SEC â¶ïž
On Friday, the U.S. Securities and Exchange Commission (SEC) issued new guidance for stablecoins. Specifically, the agency stated that it does not consider "covered" U.S. dollar stablecoins to be securities and that those involved in the process of âmintingâ and redeeming stablecoins are not required to register the transactions with the commission. However, the SEC refused to offer a perspective on yield-bearing and algorithmic stablecoins, leaving these coins in a legal grey area. The SECâs guidance on stablecoins comes as both the STABLE Act and GENIUS Act make their way through the Houses of Congress.
3ïžâŁ Circle Considers IPO Delay Amid Economic Uncertainty â
According to a Wall Street Journal report, stablecoin issuer Circle might be considering delaying its planned initial public offering (IPO) amid macroeconomic uncertainty over US President Donald Trumpâs trade policies. The report stated that Circle is now âwaiting anxiouslyâ before taking further steps. Circle joins a growing list of companies considering IPO delays, including fintech company Klarna and ticketing firm StubHub.
4ïžâŁ Grayscale Files Prospectus for Solana ETF With SEC, Removes Staking đ
Digital asset manager Grayscale has reportedly filed a registration statement for its Grayscale Solana Trust with the United States Securities and Exchange Commission (SEC). The ETF will trade under the ticker symbol "GSOL" and will hold spot SOL as the underlying asset. The filing states that the Grayscale Solana Trust, if converted into an ETF, would not participate in the process of staking funds held in receipt.
5ïžâŁ Brazilian Court Authorizes Crypto Seizure For Debt Collection âŒïž
According to local media reports, Brazilâs Superior Court of Justice has authorised judges to send letters to cryptocurrency brokers informing them about the courtâs intent to seize an account holderâs cryptocurrency assets to repay creditors. The decision was reached unanimously by the Third Panel, which reviewed a case brought forward by a creditor.
A translated version of the Superior Court of Justiceâs memo reads,
Although they are not legal tender, crypto assets can be used as a form of payment and as a store of value.