Trump Threatens Powell: “He Should Be Dismissed”
President Donald Trump has once again harshened his criticism of Fed Chair Jerome Powell. Trump called for Powell to be dismissed for not cutting interest rates. Powell emphasized in his speech that the Fed is independent of political pressures and reminded that he can only be dismissed for “just cause.” Powell stated that the independence of the US Federal Reserve has broad support both legally and in Congress.
Trump, on the other hand, described Powell as someone who is “always late and makes the wrong decisions” in his posts on the social media platform Truth Social. Trump, citing the European Central Bank’s expectation of an interest rate cut as an example, demanded that interest rates be lowered immediately in the US as well. On the other hand, Treasury Secretary Scott Bessent defended the Fed’s independence and stated that no major changes were expected until the end of Powell’s term. Powell’s term ends in May 2026.
Judge Stays 18 States’ Lawsuit Against SEC
The lawsuit filed by 18 states against the U.S. Securities and Exchange Commission (SEC) regarding crypto regulations has been suspended for 60 days after the SEC announced that it “can be resolved.” The decision was interpreted as strong signals that regulatory priorities are changing.
While the SEC’s anti-crypto stance softened after the Trump administration, new Chairman Paul Atkins took office. The SEC began quietly dropping lawsuits against companies such as Coinbase, Uniswap Labs, and Consensys. A new task force established under the leadership of crypto-friendly Commissioner Hester Peirce began work to develop a clear regulatory framework.
The lawsuit alleged that the SEC exceeded the authority of the states and bypassed Congress in regulating digital assets. Now, all eyes are on the regulatory framework that will shape the new SEC administration’s approach to crypto.
Ripple Makes XRP Investment Moves in Asia
Ripple is supporting the HashKey XRP Tracker Fund, the first XRP-focused investment fund in Asia, as the main investor. The fund, offered to professional investors by HashKey Capital, tracks the performance of XRP and provides investors with the opportunity to benefit from XRP without directly owning the crypto. The fund allows investments with cash or in-kind contributions and offers a monthly subscription/withdrawal option.
Ripple and HashKey Capital aim to expand this partnership with new investment products. Ripple, which aims to increase institutional use and adoption of XRP, plans to reach more financial institutions in the Asian market with this fund.
Ripple Expands into the Corporate Finance Market with Hidden Road Move
Ripple’s recently acquired digital asset and forex brokerage Hidden Road has increased its service capacity for institutional investors by obtaining a broker-dealer license in the US. With this license, the firm will be able to offer prime brokerage, clearing and financing services on traditional financial assets such as fixed-income securities. Hidden Road has also officially entered the fixed income markets by gaining FICC membership.
With this move, Ripple aims to expand institutional blockchain-based financial services. Hidden Road’s infrastructure will offer faster transaction clearings via the XRP Ledger, and the RLUSD stablecoin can be used as collateral. CEO Brad Garlinghouse described the deal as a “milestone” in the convergence of traditional finance and crypto.
Kyrgyzstan Lays Legal Groundwork for Digital Som
Kyrgyz President Sadyr Japarov has signed regulations that will recognize the country’s central bank digital currency (CBDC), the digital som, as legal tender. The move paves the way for a pilot implementation of the digital som and also authorizes the central bank to set payment rules. While a decision has not yet been made to issue a CBDC, the country is expected to begin testing digital currencies this year.
The new regulations represent a significant milestone in Kyrgyzstan’s digital economy push. The digital som will gain legal tender status if it goes live, expanding its potential areas of use and placing the country among the countries in the region taking steps in this area. The final decision is expected in 2026.
Slovenia Plans to Impose a 25% Tax on Crypto and Derivative Gains
The Slovenian Ministry of Finance has presented draft tax regulations for digital assets and derivatives, which are scheduled to come into effect in 2026. The new bill envisages a fixed capital gains tax of 25% on gains from crypto assets. While the use of crypto for conversion into fiat money or the purchase of services/products is subject to taxation, transfers between wallets and crypto swaps are excluded.
The second bill simplifies the current rules for gains from derivative transactions, and foresees a 25% tax on all gains, regardless of the holding period. These changes aim to align Slovenia with international regulations and reduce tax uncertainties for investors.
Arizona Nears Finalization of Crypto Reserve Bill
The state of Arizona has taken an important step towards establishing a state reserve fund backed by digital assets. The bill, SB 1373, passed the Arizona House of Representatives Committee on April 17. The bill would authorize the state treasury to manage a fund of seized digital assets and direct up to 10% of these assets to digital investments each year. However, with only one general assembly vote left for final approval, Governor Katie Hobbs is threatening to veto. Hobbs has stated that she will not sign any legislation without an agreement on disability funding.
Arizona’s steps towards crypto are not limited to this bill. Another bill, SB 1025, focuses solely on Bitcoin and aims to allow retirement funds to invest in BTC. States such as Utah, Texas and New Hampshire have also made similar efforts, while Arizona is the closest to enacting the legislation. However, political bargaining and the possibility of a veto could prevent this historic step at the last minute.
Hong Kong Adds Staking Feature to Ether ETFs
Huaxia Fund has announced that it will add staking functionality to its Ethereum ETF. This step makes Huaxia the second company to offer a staking-supported Ether ETF in Hong Kong. The custodian and staking infrastructure will be provided by OSL Digital Services. The staking feature will go live on May 15, transforming the ETF from a passive investment vehicle to an active participant in the Ethereum network.
This development comes after the Hong Kong Securities and Futures Commission (SFC) made regulatory changes on April 7. The SFC set out its goal of making Hong Kong a Web3 hub by allowing centralized platforms to offer staking services. The issue, which is still controversial in the US, is progressing with regulatory clarity in Hong Kong. According to experts, staking both increases investor returns and increases interest in Ether ETFs.
Japanese Fashion Giant ANAP Makes $70 Million Bitcoin Move
Japan-based fashion company ANAP has purchased approximately 10 billion yen (approximately $70 million) worth of Bitcoin as part of its new investment strategy. The company announced that this move is part of a long-term investment plan approved by its board of directors. ANAP stated that Bitcoin has become a store of value on a global level, like the US dollar and gold, and that this trend is irreversible.
ANAP joins companies such as MetaPlanet that have adopted a Bitcoin-focused strategy in Japan. MetaPlanet recently purchased BTC by raising $10 million in zero-interest bonds. On a global scale, MicroStrategy’s $35.9 billion BTC purchase stands out. Experts emphasize that such large-scale purchases increase institutional confidence in Bitcoin and support the price in the long term.
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BITCOIN (BTC)
BTC is trading at $ 84,630 as of the morning hours, losing 0.38%. Bitcoin is consolidating at the horizontal resistance level of 84,600 USDT. The main resistance areas are the 86,100 and 88,500 USDT levels. Below, there are strong demand areas at the levels of 80,000 and 76,000. Currently, the price is moving in an unstable band, so breaking the 86,100 level above and the 80,000 level below will be critical in terms of the medium-term direction.
ETHEREUM (ETH)
ETH is priced at $ 1,578 as of the morning hours with a 0.34% loss in value. The Ethereum price, after falling from the previous support area between 1,768 and 1,680 USDT, is currently continuing its horizontal movement at 1,580 USDT levels. As long as this area is remained below, the trend may remain weak. If the price closes above 1,680 again, the levels of 1,768 and 1,853 can be targeted. Otherwise, the downward trend may continue.
RIPPLE (XRP)
XRP is traded at $ 2,078 as of the morning hours with a loss of 0.46%. The XRP price is moving in a narrow band at the 2.06 USDT level. The 2.1139 and 2.2330 levels stand out as strong resistance areas. In downward movements, the 1.9223 and 1.7218 levels should be followed as support. The current outlook indicates that the price is in the accumulation phase and volatility may increase depending on the breakout direction.
AVALANCHE (AVAX)
AVAX is trading at $ 19.03 levels with a 0.10% loss as of the morning hours. Avalanche seems to have entered a horizontal consolidation process at 19.05 USDT levels. Unless the 19.95 USDT resistance is broken upwards, upward movements may remain limited. Below, 17.74 and 16.47 USDT levels stand out as potential support, while 15.27 USDT can be monitored as a major demand zone. Depending on the direction of the break, the direction will become clear in the short term.
SOLANA (SOL)
SOL is trading at $134 as of the morning hours with a 0.57% gain in value. The Solana price is stuck in the horizontal resistance zone at 134 USDT, and this area indicates a supply zone where intense selling pressure occurs in the 132 – 136 USDT band. Although the price has tested this level several times, a strong breakout has not occurred yet. If this zone breaks upwards, acceleration towards levels above 140 USDT may be possible. However, if it is rejected, the first important support in pullbacks will be 124 USDT, followed by 112 and 110 USDT levels.
