Trump mulls tapping crypto-friendly CFTC chair: Report  

A bill that would allow New Hampshire to invest a portion of its state funds in digital assets and precious metals has advanced to a full Senate vote after passing a second committee.On April 23, House Bill 302 (HB 302) was reviewed in the second Senate committee and passed in a 4-1 vote.The legislation, introduced in January, cleared the New Hampshire House earlier this month in a 192–179 vote. It now faces a vote by the full Senate and, if approved, will require the governor’s signature to become law.Once enacted, it would allow the New Hampshire treasury to use 10% of the state’s general funds to invest in crypto with a market cap of over $500 billion — a threshold currently met only by Bitcoin (BTC).Source: Bitcoin LawsDemocratic representative opposes New Hampshire’s crypto reserve bill  During a debate before the full House vote, Democratic Representative Terry Spahr argued that the bill is unnecessary. The lawmaker said it could undermine the future security of the state’s digital asset stockpile. Spahr argued that the state treasurer already has the authority to manage investments without the bill.Others said that it could earn the state good returns for its investment. Republican Representative Jordan Ulery said the investments could net the state a “large amount of money.”Related: US federal agencies to report crypto holdings to Treasury by April 7Bitcoin Laws, which tracks the progress of digital asset legislation, shows that New Hampshire also has two more blockchain-related bills going through its legislature. HB 639 addresses blockchain dispute resolution and regulatory frameworks, while HB 310 focuses on real-world asset tokenization and stablecoin usage.New Hampshire’s progress comes as Arizona pursues a more aggressive approach by exploring the creation of a strategic Bitcoin reserve, aiming to become the first US state to implement the policy.Magazine: Ethereum maxis should become ‘assholes’ to win TradFi tokenization race

Shaquille O’Neal has settled with investors who claim losses from the collapse of cryptocurrency exchange FTX, according to an April 23 filing in the US District Court for the Southern District of Florida.The settlement amount remains confidential, with terms expected to be disclosed after investors formally request preliminary court approval, according to court documents.O’Neal and other celebrities and athletes were accused of promoting FTX and allegedly contributing to investor losses by endorsing the now-bankrupt exchange.Source: Court ListenerThe case is part of a broader multidistrict litigation effort, where investors are seeking up to $21 billion in damages from FTX insiders, advisers and promoters, far exceeding the $9.2 billion available through bankruptcy proceedings.Other celebrities embroiled in similar legal troubles for their roles in FTX include NFL quarterback Tom Brady, supermodel Gisele Bündchen, billionaire investor Kevin O’Leary, former NBA player Udonis Haslem, David Ortiz, Naomi Osaka and others. Notably, FTX investors faced challenges in serving O’Neal with legal papers during the early stages of the lawsuit over his promotion of the collapsed exchange.Lawyers representing the victims described O’Neal as “running from the lawsuit,” after multiple failed attempts to deliver court documents. Legal teams reportedly spent months trying to reach the NBA legend, resorting to creative methods, including attempting service during NBA games and at his residences. Related: FTX former execs and promoters to settle class-action lawsuit for $1.3MO’Neal finalizes $11 million settlement over Astrals NFT projectThe settlement with FTX investors comes as O’Neal recently agreed to pay $11 million to resolve a class-action lawsuit tied to his involvement in the Solana-based Astrals NFT project.In May 2023, O’Neal was served with the Astral NFT lawsuit during an NBA game at Miami’s Kaseya Center, formerly the FTX Arena. The class-action lawsuit involved his promotion of the Astrals NFT project, alleging that the NFTs promoted by O’Neal were unregistered securities.In August 2024, a Miami federal court judge ruled that O’Neal would need to defend some of the claims brought against him in the case. Astrals is a Solana-based project featuring 10,000 NFTs, a metaverse called Astralworld and a decentralized autonomous organization (DAO) with a governance token called Galaxy.Magazine: Ethereum maxis should become ‘assholes’ to win TradFi tokenization race

South Korean exchanges Upbit and Bithumb have suspended deposits for Synthetix (SNX) tokens after it was flagged by the Digital Asset Exchange Alliance (DAXA) for potential risks.DAXA, the self-regulatory organization establishing industry standards for South Korean exchanges, designated SNX as a cautionary item. Assets receiving this designation typically undergo rigorous evaluations to determine whether trading can continue or if delisting is necessary.Exchanges may take action, such as adding a warning tag to the asset and urging investors to take caution when engaging with it. Trading platforms can also perform additional measures, like blocking deposits or suspending trading support temporarily. Upbit and Bithumb block SNX depositsIn response to the designation, the biggest exchanges in South Korea said they are blocking deposits for SNX tokens on their platforms. Upbit announced that it had added a trading caution ticker and suspended token deposits. The exchange said it had been monitoring the developments related to the Synthetix USD (sUSD) depegging. It added that this event may damage investors through potential volatility, as SNX is used as collateral for sUSD. The exchange added that it had determined a lack of use cases for the asset, which may cause investors to suffer losses. Upbit said it would conduct a comprehensive review to decide whether to delist the asset or resume normal operations for the token. Bithumb has also blocked deposits for SNX and added a cautionary tag for the token. However, the exchange said this decision could be overturned depending on internal circumstances. If the reason for the designation is resolved, Bithumb said it would lift the restrictions. Korbit and Coinone also published investor alerts to caution traders. The two exchanges added cautionary tags to SNX tokens to alert investors who may want to trade the token. Cointelegraph reached out to Synthetix for comment but did not get a response by publication. Related: South Korean crypto emerges from failed coup into crackdown seasonsUSD struggles to recover dollar pegOn April 10, the sUSD stablecoin dropped to a five-year low of $0.83 after struggling to maintain its dollar peg in the first quarter of 2025. With the stablecoin being collateralized by the project’s native asset, Cork Protocol co-founder Rob Schmitt compared the token to Terra USD (UST), which collapsed in 2022. However, Schmitt said that sUSD has a “more manageable” debt system. On April 18, the stablecoin dipped further to $0.68, with SNX falling by 26% in a 30-day period. A Synthetix spokesperson told Cointelegraph that their team has short, medium and long-term plans to mitigate the risks. On April 21, Synthetix founder Kain Warwick threatened SNX stakers with “the stick” if they didn’t take up a newly launched staking mechanism to fix the sUSD depeg. The executive said they may put extra pressure on stakers if they don’t see enough momentum on the newly implemented mechanism. Since the warning, sUSD prices increased by 27%. On April 24, the stablecoin briefly reached $0.87. However, the token has still failed to recover its dollar peg. Magazine: Uni students crypto ‘grooming’ scandal, 67K scammed by fake women: Asia Express