TechubNews

Techub News reports that Movement Labs tweeted, "We confirm that co-founder Rushi Manche has been temporarily suspended by Movement Labs. This decision was made based on current events, and the third-party organization Groom Lake is still conducting a third-party review regarding organizational governance and recent incidents involving market makers."

Techub News previously reported that Movement Labs has postponed the MoveDrop plan due to market abnormalities.

According to Techub News, as reported by Cointelegraph, U.S. Representative Lance Gooden from Texas has written to Acting Administrator Stephen Ehikian of the General Services Administration (GSA), proposing that government officials consider installing Crypto Assets ATM machines in federal buildings across the country. Lance Gooden claims that introducing Crypto Assets ATM machines in federal buildings would serve as an "educational resource" and reflect advancements in financial technology. He suggested that the GSA begin researching the necessary guidelines and regulations for installing su

Techub News reported that Meteora, a Solana liquidity management platform, proposes to allocate 25% of the tokens to liquidity incentives and TGE reserves. 20% of this is allocated to the Liquidity Incentive Reserve for a two-year period of liquidity mining rewards after TGE; 5% is allocated to TGE reserves for liquidity provision, market making, and other purposes during TGE.

According to Techub News, the digital asset derivation company Two Prime stated that despite achieving success on Ethereum, it will focus on Bitcoin asset management and lending in the future. The statistical trading behavior, value proposition, and community culture of Ethereum have failed to the point of being unworthy of participation. In light of Bitcoin becoming an alternative, the risk-reward of Ethereum is simply unreasonable. Two Prime indicated that as an algorithmic trading company, it values data over narrative. Data shows that fundamental changes have occurred with Ethereum. Its co

Techub News reports that the privacy L2 Aztec for Ethereum has launched its public Testnet.

According to AXIOS, a copy of the invitation letter shows that the cryptocurrency industry will hold a fundraiser for Trump in Washington next Monday, with an admission fee of $1.5 million per person. David Sacks, White House head of crypto AI and crypto policy, will serve as co-host of the fundraiser, which is known as the "Crypto and AI Innovators Dinner." The proceeds will go to MAGA Inc., a super political action committee that supports Trump, who has been aggressively raising money for next year's midterm elections.

Techub News reports that Swiss asset management firm 21Shares has submitted an S-1 registration form for the SUI ETF to the U.S. Securities and Exchange Commission (SEC). 21Shares President Duncan Moir stated at the annual Basecamp conference for Sui: "Since we first researched Sui, we have believed it could become one of the most exciting blockchains in the industry, and we are witnessing the realization of that assertion."

Techub News reported that the Japanese listed company Metaplanet will issue 3.6 billion yen (approximately 24.74 million USD) zero-interest ordinary bonds to purchase Bitcoin.

According to Techub News, citing sources from The Block, U.S. House Financial Services Committee Chairman French Hill and others, along with House Agriculture Committee members Glenn Thompson and Dusty Johnson, are expected to release a regulatory draft on crypto assets ahead of a joint hearing on digital assets scheduled for May 6 (local time). The hearing will take place at 10 AM ET on the 6th, with the theme "The Future of American Innovation and Crypto Assets: A Blueprint for the 21st Century," and is expected to focus on the long-awaited legislation to define the structure of the crypto a

Techub News reports that U.S. President Trump stated that he is working very hard on the "Beautiful Big Bill" and has just received the latest news from congressional leaders regarding the tax bill. If the Big Bill does not pass, taxes will increase by 68%. Currently, the progress of the tax bill is going smoothly and is proceeding completely as planned. The final details of the tax reform bill are about to be released.

According to Techub News, reported by Coindesk, Strategy (MSTR) announced a Q1 2025 loss of $16.49 per share due to a significant fall in Bitcoin prices over the first three months of this year, leading to a $5.9 billion impairment of its Bitcoin assets. Strategy has announced a new $21 billion public market common stock issuance plan and has raised its long-term Bitcoin yield target from 15% to 25%, and its Bitcoin dollar revenue target from $10 billion to $15 billion. As of April, the company held a total of 553,555 Bitcoins, with a purchase cost of $37.9 billion, averaging $68,459 per coin.

According to Techub News, Tether released its first quarter financial data and reserve report, which was completed by BDO, one of the world's top five independent accounting firms. The report shows that Tether's total exposure to U.S. Treasury bonds has reached a historic high of nearly $120 billion, which includes indirect exposure to U.S. Treasury bonds through money market funds and reverse repurchase agreements. Tether also reported that the operating profit from its traditional investment business exceeded $1 billion this quarter, thanks to the robust performance of its U.S. Treasury bond

According to Techub News and reported by The Block, Sky's core governance design team Atlas Axis submitted a proposal on Wednesday, which, if approved, will complete the protocol upgrade from MKR to SKY. This transition will make SKY the sole governance token and support staking, unlocking USDS rewards for SKY holders.

Techub News reports that the U.S. stock market has opened, with the Dow Jones rising 0.51%, the S&P 500 index rising 1.02%, and the Nasdaq rising 2%.

According to Techub News, reported by Fortune, the Crypto Assets VC dao5 has completed its second fundraise of $222 million.

dao5 was founded in 2022 by former company lawyer and crypto venture capital giant Polychain alumnus Tekin Salimi, who had previously raised a $125 million inaugural fund, all of which has been deployed into crypto startups, including Berachain and the decentralized AI project Bittensor.