Crypto Funding Reaches $4.9 Billion in Q1 2025
According to Galaxy’s report, crypto venture funding increased to $4.9 billion in the first quarter of 2025, reaching its highest level since the end of 2022.
While the largest share in funding was in the exchange, trading and lending category, Web3 projects (gaming, NFT, DAO, metaverse) stood out in terms of the number of transactions. US-based ventures realized the most deals with 38.6%. While 65% of the funding consisted of late-stage rounds, a partial decline was observed in early-stage investments. While the relationship between Bitcoin prices and investment volume shows signs of recovery, the shifting interest in artificial intelligence somewhat overshadows the appeal of crypto funds. Still, Galaxy believes 2025 will be a stronger funding year than last year.
Arizona Governor Vetoes Bitcoin Reserve Bill
Arizona Governor Katie Hobbs has vetoed a bill that would have allowed the state to invest seized funds in Bitcoin (BTC). The bill, SB 1025, would have created a digital asset reserve and had that reserve managed by the state. The bill passed the House of Representatives by a vote of 31-25, but Hobbs rejected it, saying, “Arizona residents’ retirement funds cannot be put at risk by untested investments like virtual currencies.”
The veto eliminated the possibility of Arizona becoming the first state in the U.S. to add Bitcoin to its official reserves. If approved, the bill would be the first legislative step toward creating a state-level digital reserve and could even surpass the federal government.
Fr8Tech Makes $20 Million TRUMP Coin Move
Fr8Tech, a Nasdaq company that provides shipping and logistics solutions, announced that it will create a $20 million TRUMP memecoin treasury with the aim of supporting U.S.-Mexico trade. The company raised funds through a convertible bond from an institutional investor to purchase official Trump tokens. CEO Javier Selgas said the move not only diversifies its crypto treasury, but also calls for a fairer trade environment between the two countries.
The company previously purchased Fetch.ai’s token FET for $5.2 million. 4% of TRUMP tokens were also released recently. Fr8Tech’s stock rose briefly after the announcement, but closed down 20.6% at $0.98. While companies adding crypto assets to corporate treasuries have increased, this trend has accelerated after Trump was re-elected as president.
Senate Puts Brake on Stablecoin Bill
The fate of the GENIUS Act, a bill that has been in the works for a long time in the US Senate regarding stablecoin regulation, has been thrown into uncertainty. Nine Democratic senators, including four who previously supported the bill, have withdrawn their support, stating that the current text contains “a number of serious problems.” This outburst, which came days before the vote in the Senate, is based on reasons such as the lack of sufficient measures against national security and money laundering. The Democratic sponsors of the bill, Kirsten Gillibrand and Angela Alsobrooks, did not take part in this statement.
The bill requires all stablecoins to be backed by 100% reserves, transparent monthly reserve disclosures, and annual audits. It also includes many technical regulations such as bankruptcy guidance and marketing rules for issuers with a market value of over $50 billion. But Democrats argue that the sections on national security and foreign issuers are not strong enough. Republican Senator Bill Hagerty called on Democrats to “either move this forward in a bipartisan manner or digital asset legislation remains a Republican agenda only.” The bill needs 60 votes in the Senate to pass.
NVIDIA Allegedly Purchased Bitcoin
While rumors spread rapidly on social media that NVIDIA would add Bitcoin to its balance sheet, the company has not made an official statement. Some crypto names such as Crypto Beastreal and Jason A. Williams brought up the claim; however, recent SEC filings and financial reports do not show that NVIDIA has purchased any BTC. The company’s move to Bitcoin has been compared to examples like MicroStrategy and Tesla, but these claims have not yet been confirmed.
As of April 2025, the fact that companies hold more than 630,000 BTC in total, accounting for 3% of the supply, highlights institutional interest. However, whether NVIDIA took such a step was a strategic decision or a move to keep up with the trend is also a matter of debate.
Google Integrates ZKP Technology to Increase Privacy in Digital Identities
Google announced that it has added Zero-Knowledge Proof (ZKP) technology to Google Wallet to enable users to perform identity verification processes, such as age verification, without revealing their personal information. This system focuses on protecting privacy when verifying identity in applications and websites. Google also aims to make this technology open source so that other digital wallet providers and developers can use it.
ZKPs have long been known as a powerful cryptographic tool used in the crypto ecosystem that allows verification without sharing information. Google’s adoption of this technology has been welcomed by the crypto community, which argues that privacy should not be just a luxury but a default user right. This step shows that ZKP technology is starting to become widespread on major platforms outside of blockchain.
Maldives Makes $9 Billion Crypto Move
The Maldives government has signed an agreement with Dubai-based MBS Global Investments to build a $9 billion crypto and blockchain center in the country’s capital, Male. The project aims to attract foreign investment and ease public debt by reducing economic dependence on tourism and fishing. The “Maldives International Financial Center”, which will be built on an area of 830 thousand square meters, is expected to provide employment for approximately 16 thousand people when it is completed.
However, the Maldives’ goal of becoming a global center in this field requires competing with strong rivals such as Dubai, Singapore and Hong Kong. These cities have already become important centers in the Web3 and fintech sectors thanks to their crypto-friendly regulations and high investment environments. The project will take five years to complete and its cost will exceed the annual GDP of the Maldives.
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BITCOIN (BTC)
BTC is trading at $94,380 with a 0.11% increase in value as of the morning hours. Bitcoin retreated to the 50% Fibonacci retracement point at 93,900 with the decline that started at 95,800. This area is working as support in the short term. However, if the price cannot give a strong buying reaction from here, the 91.960 and 89.000 levels should be watched as the next supports. Above, exceeding 95,800 may trigger a move towards the sales region above 98,000 again.
ETHEREUM(ETH)
ETH is priced at $ 1,804 as of the morning hours with a 0.22% loss in value. Ethereum price is seeking support at 1790, the 50% Fibonacci retracement level of the last rise. Persistence above this level may pave the way for the price to head back to the 1835 resistance. However, closing below 1790 may deepen the decline to 1745 and even 1658. The breakout after horizontal consolidation indicates the decision phase at these levels.
RIPPLE(XRP)
XRP is traded at $ 2.1646 as of the morning hours with a 0.38% gain. Although XRP has fallen below the demand area in the 2.18 – 2.20 band, there is no significant selling pressure yet. If this area is lost, the possibility of a drop to 2.1139 is on the agenda. Above, the 2.2330 – 2.2400 levels are important resistance. Unless the price regains this band, it may have difficulty gaining upward momentum.
AVALANCHE(AVAX)
AVAX is trading at $20.05 levels with a 0.70% gain as of the morning hours. The AVAX price retreated to the demand zone in the 19.50 – 20.20 band and found a reaction there. This region should be carefully monitored for a potential bottom formation as it has been a region where strong purchases have come in the past. Closings above 20.50 may indicate that the price has entered a recovery process again. Otherwise, if the downward pressure continues, a pullback to 18.50 levels may be seen.
SOLANA(SOL)
SOL is trading at $146.35 as of the morning hours, losing 1.65%. After testing the horizontal support at 144.87 several times, SOL is trying to hold on to this area. The compression structure that formed after the previous rise and the reactions after the downward breakout attempt show that this level is important for buyers. However, the fact that the price remains below the 148 level indicates that the pressure continues. In closings below 144.87, the 124.00 level can be followed as the next strong support.
