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B3, the leading exchange in Latin America for crypto ETFs and derivatives, is set to launch Ethereum and Solana futures contracts on June 16 after introducing Bitcoin futures last April, the exchange said in a Friday statement.

B3 has confirmed the launch date for its new futures products after securing approval from the Securities and Exchange Commission (CVM). The plans were first announced in February, local news outlet Valor Investe reported.

Unlike Bitcoin futures, which trade in Brazilian reais, Ethereum and Solana contracts will be priced in US dollars and referenced to the Nasdaq Ether Reference Price and Nasdaq Solana Reference Price indices.

Explaining the reasons behind the launch, Marcos Skistymas, B3’s Director of Products, pointed to rising interest from investors in digital asset instruments.

“B3 is offering new cryptocurrency derivative instruments to meet the growing demand for products linked to crypto assets, bringing more innovation and sophistication to our products, in addition to offering more alternatives to investors familiar with blockchain technology against the price variation of digital assets, in a regulated and secure manner,” said Skistymas in a statement.

The Ethereum contract will have a size of 0.25 Ether, while the Solana contract will represent 5 SOL. Both contracts will expire on the last Friday of each month, with financial settlements based on crypto price movements.

The CVM has also approved reducing the Bitcoin futures contract size from 0.1 Bitcoin to 0.01 Bitcoin, effective June 16. The reduction aims to increase accessibility, enhance product liquidity, and lower trading costs.

B3 hosts numerous crypto ETFs

B3 recently launched the world’s first spot XRP ETF, the Hashdex Nasdaq XRP Fundo de Índice (XRPH11), which began trading late last month. The ETF tracks the spot price of XRP, Ripple’s native crypto asset, and allocates at least 95% of its net assets to XRP and related instruments.

In addition to the XRP ETF, B3 offers a variety of other crypto-related ETFs managed by Hashdex, including ETFs tied to Bitcoin (BITH11), Ethereum (ETHE11), and Solana (SOLH11).

Hashdex has launched nine crypto ETFs on B3, expanding the range of regulated digital asset investment products available to institutional and advanced investors in Brazil.

Crypto markets are showing strong upward momentum. Over the last 24 hours, Bitcoin has risen by 4% to around $103,000, per CoinGecko, Ether has impressively jumped by 20% to $2,300, and Solana has gained 11%, reaching $172.

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Jeffy Yu, co-founder of Zerebro, who was believed to have committed suicide during a Pump.fun livestream on May 4, was recently seen at his parents’ home in the Crocker-Amazon neighborhood, The San Francisco Standard revealed.

The developer, who was discovered by The Standard on Wednesday, looked shaken and uneasy as he stepped outside his family’s two-story home. Wearing a T-shirt, shorts, and flip-flops, Yu seemed nervous and confused, the report stated.

After faking his own death, launching a memorial meme coin, and sprinkling enough on-chain breadcrumbs to summon on-chain sleuths from every corner of the crypto community on X, Yu expressed concern about being seen in public. He said he’s planning to relocate his parents.

When confronted about the false death report and the $LLJEFFY meme coin, which was released shortly after his staged death as a memorial token, Yu refused to answer. The reporter was asked to leave moments later.

Yu’s wallet stays suspiciously active despite reports of his death

On-chain analysts spotted unusual activity from crypto addresses belonging to Yu after reports surfaced that he had taken his own “exit.”

According to crypto commentator @RepeatAfterVee, Yu’s crypto address, which is linked to the creation of $ZEREBRO and $LLJEFFY is still alive and very active, offloading tokens and shuffling funds across known wallets just days after reports of his death.

I’ve just noticed that one of Jeffy Yu’s addresses is dumping $ZEREBRO, then sending USDC to the HTX exchange, and then that money is coming to Jeffy’s address that created $LLJeffy.

G5sjgjPdFdoz7hRa49yDobeSdqMooCmDwsCUERqLTfyr (the creator of LLJeffy) then buys that token and… https://t.co/f70vLp4HLw pic.twitter.com/LQWZUdyN3l

— Vee (@RepeatAfterVee) May 6, 2025

These transfers triggered a wave of skepticism across crypto community members. Some questioned whether Yu’s reported death was genuine.

Data from Bubblemaps shows that accounts linked to Yu moved up to $1.4 million in crypto assets after his supposed death, leading to accusations of a “pseudocide exit strategy.”

On May 6, Daniele Sestagalli, the founder of the Wonderland protocol, published a letter that he said he received from Yu, in which the developer allegedly admitted to fabricating his death.

Yu described the act as a last resort to prevent a collapse in the prices of Zerebro and Opaium.

Legacy.com, the obituary platform where the tribute was posted, has since removed the listing without comment.

$ZEREBRO is currently trading at around $0.048, up 24% in the last 24 hours, per CoinGecko. The token is down nearly 94% from its all-time high set in January.

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Bitcoin broke through the $100,000 mark early on Thursday, its highest level since February, and now sits just 8% below its all-time high, according to TradingView.

As bullish momentum continues to build up, Geoffrey Kendrick, Standard Chartered’s head of digital assets, has updated its Q2 price target for Bitcoin.

In an email to clients on Thursday, he apologized for previously predicting that Bitcoin would top out at $120,000, now admitting that the target may have been far too low.

In an April report, Kendrick predicted that Bitcoin could reach a new all-time high of $120,000 in the second quarter. The analyst also maintained a $200,000 Bitcoin price target by year-end.

His forecast was based on several supportive factors, including strategic reallocation away from US assets, strong whale accumulations, institutional flows, and regulatory tailwinds.

Kendrick now sees his early price call as “very achievable” as market conditions have shifted again.

First, Bitcoin was seen as correlated with risk assets like tech stocks, the analyst said. Then, it became a hedge or strategic play against US assets. Now, it’s about money flowing into Bitcoin, and they are coming from various sources.

Bitcoin’s rally started on Wednesday night as the digital asset surged past $98,000, driven by optimism about upcoming US-China trade talks and rising institutional interest.

This bullish trend picked up after Arizona’s governor unexpectedly signed a Bitcoin reserve bill into law on Wednesday, just days after vetoing separate crypto legislation. The signing came after New Hampshire made history as the first US state to pass a Bitcoin reserve bill.

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The White House has opposed certain elements of a sovereign wealth fund proposal developed by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick at President Trump’s request, according to a new report from CBS News.

The plan, reportedly delivered by early May, follows Trump’s February executive order directing the Treasury and Commerce departments to develop a framework for a US sovereign wealth fund within 90 days.

The order fueled speculation that the fund might be used to acquire Bitcoin on behalf of the US government.

However, at the time, Bessent and Lutnick said that the fund would indeed focus on warrants, equity, and other non-crypto investments. Still, David Sacks, Trump’s crypto czar, indicated that Bitcoin could be included in the fund’s portfolio.

That no longer appears to be the case after Trump signed a separate executive order establishing a strategic Bitcoin reserve and a digital asset stockpile on March 6, which suggests a standalone approach to crypto holdings.

There were also rumors that the fund might be financed through tariffs and other revenue sources despite ongoing budget deficits. But Lutnick later clarified that tariffs would not be used to support the sovereign wealth fund.

According to the CBS News report, White House spokesperson Kush Desai said the Treasury and Commerce Departments have developed plans in response to Trump’s directive, but no final decisions have been made.

The administration, Desai added, continues to view the initiative as part of its broader effort to safeguard national and economic security.

Details of the fund’s structure and purpose remain under discussion, with no formal announcement expected in the near term.

Sources say Trump has not yet decided how the fund’s proceeds would be used, though he has previously floated the idea of it taking a stake in TikTok, which faces a potential US ban unless ByteDance divests.

Regarding the US Strategic Bitcoin Reserve and the Digital Asset Stockpile, Bessent and Lutnick are also tasked with outlining operational guidelines, custody frameworks, and acquisition strategies. These plans are expected to remain separate from the sovereign wealth fund initiative and are designed to be budget-neutral.

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The Federal Reserve held interest rates steady on Wednesday at a range of 4.25% to 4.5% as officials continued to assess inflation risks and growing uncertainty sparked by Trump’s trade agenda.

The central bank’s decision was in line with market expectations. According to data from the CME FedWatch tool, markets had priced in a nearly 98% probability that rates would remain unchanged at the Fed’s May meeting.

This marks the third consecutive pause in rate cuts since January. The central bank had previously lowered rates three times in late 2024 in response to softening employment data and easing inflation.

The latest policy stance comes on the heels of cooling price pressures and continued labor market strength. In March, the Consumer Price Index (CPI) fell 0.1% on a monthly basis, while annual inflation eased to 2.4%, down from 2.8% in February.

Meanwhile, April saw solid job gains, reinforcing the resilience of the economy despite uncertainty about Trump’s tariffs.

The combination of moderate inflation and robust employment supported the Fed’s choice to hold rates steady.

The Fed’s policy statement said that recent indicators suggest economic activity has continued to expand at a solid pace, with labor market conditions remaining strong and the unemployment rate stabilizing at low levels. However, it noted that inflation remains somewhat elevated and uncertainty about the economic outlook has increased further.

The Committee said the risks of both higher unemployment and higher inflation have risen and emphasized that future decisions will depend on incoming data and the evolving balance of risks. It also reaffirmed its commitment to reducing its balance sheet and to achieving its dual mandate of maximum employment and 2% inflation.

President Trump has persistently pressured the Fed to lower interest rates, but recent strong employment data has decreased the chances of a rate cut in June.

The market has shifted its expectation of rate cuts, with participants less confident about reductions going into the third quarter. Investors now anticipate the Fed will begin cutting rates in July, with two to three additional reductions projected by year-end.

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Binance Coin (BNB) could surge to $2,775 by the end of 2028, which represents more than a fourfold increase from its current price of around $600, according to a Standard Chartered research report released today.

The native token of Binance’s BNB Chain has mirrored the performance of Bitcoin and Ethereum combined since May 2021, both in terms of returns and volatility, notes Geoff Kendrick, head of digital assets research at Standard Chartered.

Kendrick says BNB’s value is still anchored to Binance’s dominance. As long as the exchange stays on top, the analyst doesn’t expect much change in BNB’s fundamentals. He also sees potential for the token to act as a digital asset benchmark.

BNB Chain primarily focuses on decentralized exchanges, lending protocols, and liquid staking, making it a “more concentrated and ‘old-fashioned’ smart contract platform than rivals such as Ethereum and Avalanche,” according to Kendrick.

BNB showed resilience during recent market selloffs

BNB maintained a strong position in April despite a broader market downturn that sent many altcoins tumbling.

The asset, currently ranked as the fifth-largest crypto by market cap, is trading less than 25% below its all-time high, but still outperforming other altcoins, some of which have dropped as much as 98%.

BNB Chain continues to lead in decentralized application (dApp) adoption, with 5,686 dApps supported, according to DappRadar. In comparison, Ethereum supports 4,988 dApps and Polygon 2,406.

In terms of DeFi activity, BNB Chain ranks fourth in total value locked (TVL), with approximately $5.8 billion, behind Ethereum, Solana, and Bitcoin, per DefiLlama.

On the institutional front, Wall Street is starting to pay attention to BNB. Major fund manager VanEck recently filed a registration statement with the SEC to launch the VanEck BNB ETF, which would be the first US-registered ETF designed to directly track the spot price of BNB.

Pending SEC and exchange approvals, the ETF may also offer staking features, enabling investors to earn BNB rewards on top of price exposure.

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Bitcoin showed flashes of independence from equities in April, renewing hopes that it’s evolving into a true macro hedge. However, VanEck’s recent data tell a different story.

In a monthly recap published on Monday, analysts at VanEck say that the flagship crypto asset still trades closely with traditional markets, as it quickly re-synced with major indices after a brief divergence.

Bitcoin briefly showed signs of decoupling from US equities during the week ending April 6, when former President Trump announced new tariff measures that rattled global markets. While equities and gold declined, Bitcoin climbed from $81,500 to over $84,500 at week’s end, hinting at a potential shift toward independent price action.

This divergence fueled hopes that Bitcoin might break away from traditional risk asset behavior and push toward new highs. However, the momentum did not last long, and the asset soon resumed trading in line with equity markets.

Offering more context in this area, VanEck—drawing on data from VanEck Research and Artemis XYZ—notes that Bitcoin has not meaningfully decoupled from the stock market.

Although the 30-day moving average correlation between BTC and the S&P 500 briefly dipped below 0.25 in early April, it quickly rebounded to around 0.55 by the end of the month.

Still, Bitcoin outperformed the major stock indices during the month. It gained 13%, while the Nasdaq Composite fell 1% and the S&P 500 posted only a slight increase.

Perhaps most notably, Bitcoin’s volatility declined by 4% in April, even as volatility in equity markets doubled amid rising geopolitical and trade tensions.

Structural tailwinds are building

According to VanEck, despite the fact that Bitcoin still behaves like a risk asset in the short term, structural tailwinds, including aggressive corporate BTC accumulation, may be setting the stage for long-term divergence.

Analysts suggest that as individuals, corporations, and central banks increasingly view Bitcoin as a sovereign, uncorrelated store-of-value, its long-term behavior could break free from that of traditional risk assets.

Russia and Venezuela, which have already begun embracing Bitcoin’s utility in international trade, are early examples of this transformation, according to analysts.

Corporate-level Bitcoin accumulation was active in April. To recap, Strategy added 25,400 BTC to its holdings, while Metaplanet and Semler Scientific also made significant purchases.

A key highlight of the month was the launch of a new venture, XXI (Twenty One), formed by Softbank, Tether, and Cantor Fitzgerald, with the goal of acquiring over $3 billion worth of Bitcoin.

This signals Bitcoin’s growing role on corporate balance sheets, as institutional exposure shifts from speculative bets to long-term strategic positioning.

Crypto stumbles as Bitcoin holds steady

Bitcoin dodged the tariff fallout, but altcoins were not lucky.

Layer 1 networks led the decline, with Ethereum, Solana, and Sui all posting heavy drawdowns from their January highs, falling between 66% and 68%, according to VanEck. The MarketVector Smart Contract Leaders Index (MVSCLE) dropped 5% in April and is now down 34% year-to-date.

The slump followed a global equity selloff triggered by new trade tariffs, compounded by unlock fatigue and heavy losses in speculative sectors like DeFi AI, DeSci, and AI Agents. Meme coin trading volume also collapsed by 93% between January and March.

Yet some chains managed to buck the trend, including Sui, Solana, and Stacks, according to VanEck.

Solana rose 16%, lifted by network upgrades and growing institutional treasury interest. Ethereum, meanwhile, slipped another 3%, underperforming its peers as fee erosion and layer 2 competition continued.

Solana’s April was quiet but constructive. The network released SIMD-0207, a compute upgrade that sets the stage for future throughput gains. The Solana Foundation also began phasing out underperforming validators reliant on delegation, aiming to prioritize those offering ecosystem value.

With roughly 18% of staked SOL managed through the Foundation, validator dynamics remain a key part of the chain’s governance. While some question meme coin sustainability, Solana’s unmatched throughput continued to dominate trading activity. In April, meme coins accounted for 95% of all DEX activity on the chain, excluding SOL and stablecoins.

Sui’s strength goes beyond its price. In April, its daily DEX volumes jumped 45%, placing it among the most active chains. It entered the top 10 in smart contract platform revenue and posted the highest stablecoin turnover ratio at 716%. Core developer Mysten Labs earned praise for product velocity and responsiveness in an increasingly crowded layer 1 sector.

Ethereum, by contrast, faces mounting pressure. Its share of layer 1 fee revenue slid to around 14%, down from 74% two years ago. Developers proposed major changes, including a shift to RISC-V architecture for faster zk-proofs, a 100x gas limit increase via EIP-9698, and parallel transaction execution under EIP-9580.

But Ethereum’s layer 2s continued to siphon users and activity. Flashbots’ deployment on Base and Optimism cut confirmation times to 200 milliseconds, while Arbitrum introduced gas payments in non-ETH tokens, further undermining ETH’s role. The core dilemma remains: Layer 2s rely on Ethereum’s security while eroding its fee base.

Meanwhile, Tron and Hyperliquid took the top spots in average daily blockchain revenue, earning more than both Solana and Ethereum.

Tron’s dominance in stablecoin transfers and Hyperliquid’s niche in perpetual trading helped them generate $1.7 million and $1.4 million daily, respectively, according to VanEck.

Speculative energy continued to fade. Meme coins, which once drove volumes across chains, saw trading activity and sentiment plunge. The MarketVector Meme Coin Index has fallen 48% year-to-date, though meme coins still made up 35% of Solana’s DEX activity in April.

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