WTI Crude Oil Surges Over 6% Temporarily, Brent Crude Up Over 5% as Trump Discusses Potential Extension of Hormuz Strait Blockade
April 29 — Per Bitget market data, the oil market extended gains tonight: WTI crude oil jumped more than 6% to $107.22, while Brent crude rose over 5% to $109.19.
On the news front: Iran has warned it will take “unprecedented military action” if the U.S. continues detaining Iranian-linked vessels. Meanwhile, White House officials said President Trump met with oil executives Tuesday to discuss the possibility of a months-long Strait of Hormuz blockade if necessary.
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MoonPay acquires crypto key management company Sodot, launches Institutional Business Division
April 29th
Cryptocurrency payment firm MoonPay announced it has acquired Israeli crypto key management infrastructure provider Sodot, while also launching a new business division targeting traditional financial institutions called MoonPay Institutional.
Per Bloomberg, the deal was an all-stock acquisition, valuing Sodot at roughly $1 billion. Founded in 2023, Sodot specializes in MPC (Multi-Party Computation) and TEE (Trusted Execution Environment) technologies, having secured over 10 million wallets and processed more than $500 billion in transactions. Its clients include eToro and BitGo.
MoonPay stated that Sodot’s infrastructure will serve as the core of its institutional business, catering to asset management firms, market makers, custodians, and wallet service providers among traditional financial clients.
MoonPay’s Chief Legal Officer—Caroline D. Pham, a former Acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC)—will lead Moon Global Markets as CEO,
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Visa Expands Stablecoin Settlement Network to 9 Chains, Achieving $7 Billion in Annualized Settlement Volume
On April 29, payment giant Visa announced an expansion of its stablecoin settlement pilot network, adding support for Base, Polygon, the Canton Network, Arc, and Tempo (backed by Stripe)—now covering 9 blockchain networks total. Previously, Visa supported Ethereum, Solana, Avalanche, and Stellar.
Visa noted its stablecoin settlement program’s annualized transaction volume has hit $7 billion, a 50% jump from the prior quarter. The program lets issuing and acquiring banks settle transactions directly via stablecoins, skipping the traditional banking clearing system.
Visa’s Global Head of Growth, Products, and Strategic Partnerships Rubail Birwadker said current partners operate in a “multi-chain world,” and Visa aims to give partners broader liquidity access by supporting more networks. Visa will act as a unified settlement layer to enable cross-chain coordination.
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21Shares CIO: Bitcoin ETF to Drive Institutional Inflows, BTC Could Hit $100,000 by Year-End
On April 29, 21Shares Chief Investment Officer Adrian Fritz told CoinDesk that Bitcoin is increasingly becoming part of mainstream multi-asset portfolios as spot Bitcoin ETFs keep drawing institutional inflows. With a favorable macro backdrop, he expects BTC to hit $100,000 by year-end.
Fritz noted spot Bitcoin ETFs have pulled in nearly $2 billion in inflows so far this year, with buying pressure coming from retail investors, institutions, and hedge funds using arbitrage and options strategies. Big asset managers like Morgan Stanley are also ramping up crypto exposure, speeding up institutional adoption.
He added Bitcoin’s daily trading volume now tops $500 billion, with liquidity approaching that of major tech stocks like NVIDIA. The ETF structure has further boosted primary and secondary market liquidity, helping Bitcoin take on "institutional-grade asset" traits.
Looking ahead, Fritz sees several catalysts for a new uptrend: geopolitical easing, continued ETF net inflows,
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U.S. Senator Tillis: Prepared to Advance the "Clarity Act" to Committee Markup Phase
On April 29, Fox Business reporter Eleanor Terrett reported that U.S. Republican Senator Thom Tillis said he is ready to advance the "Clarity Act" to committee for line-by-line markup.
Speaking on Capitol Hill, Tillis noted, “We’ve made significant progress, and it’s time to move the bill to committee for further advancement.” He added he will ask the committee chair to schedule a formal review date after the congressional recess.
Regarding the stablecoin yield controversy, Tillis stated most of the banking industry’s concerns have been heard and addressed, while welcoming all parties to continue “engaging in good-faith discussions.”
On the timeline front, Tillis expressed hope to release the legislative text for stablecoin yield provisions 4-5 days ahead of the formal review, and provide a preview version to relevant stakeholders in advance.
Additionally, on the issue of software developer liability and the potential impact of the 1960 Criminal Code on enforcement, Tillis
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