Elon Musk has officially announced his resignation as head of the Department of Government Efficiency (DOGE), a federal cost-cutting initiative under President Donald Trump’s administration. In a May 29 post on X, Musk confirmed his departure, stating: “Thank you President Trump for the opportunity to reduce wasteful spending.” According to Reuters, a White House official said his off-boarding would begin immediately. Musk’s role was limited to 130 days as a Special Government Employee, a term set to expire on May 30. DOGE Faced “Much Worse” Bureaucratic Challenges Than Expected In an interview with The Washington Post on May 27, Musk…
Author: Blockto Team
DeFi Development Corp. (DFDC), a Nasdaq-listed firm formerly known as Janover, has become the first publicly traded company to adopt liquid staking tokens (LSTs) on the Solana blockchain, further enhancing its position as a crypto-native treasury model. Quick Highlights Why Liquid Staking? DFDC plans to allocate part of its SOL holdings into dfdvSOL, enabling the company to: Chief Investment Officer Parker White noted this approach “creates additional ways to drive stake to our validators and increase SOL holdings.” Recent Moves Stock Reaction Despite the strategic shift, DFDC shares dropped 16.95% on Nasdaq, closing at $22.19 on May 28, according to…
Bergen County, New Jersey, has signed a five-year agreement with blockchain land record firm Balcony to tokenize 370,000 property deeds — worth an estimated $240 billion — using the Avalanche blockchain, marking the largest deed tokenization project in U.S. history. Announced on May 28, the project will transform property records across 70 municipalities in the county, home to nearly 1 million residents. Key Details Real-World Blockchain Utility Balcony CEO Dan Silverman called the initiative a “turning point for government record systems,” emphasizing the advantages of secure, decentralized infrastructure for reducing: The digital records will create a tamper-proof, searchable chain of…
Norwegian crypto brokerage firm K33 has raised 60 million Swedish krona ($6.2 million) to acquire Bitcoin as part of its newly announced Bitcoin Treasury Strategy, the firm revealed on May 28. K33 joins a growing number of European firms embracing Bitcoin not just as an investment, but as a strategic reserve that will power future products like BTC-backed lending. Fundraising Breakdown K33 secured the $6.2 million through: At the current Bitcoin price of ~$108,000, K33 could purchase up to 57 BTC. CEO Vision: Bitcoin as “Best-Performing Asset of the Decade” K33 CEO Bull Jenssen posted to X (formerly Twitter): “Why…
Pakistan is joining the global crypto movement with a major policy shift. At the Bitcoin 2025 conference in Las Vegas, Minister of State for Blockchain and Crypto Bilal Bin Saqib announced that Pakistan will create a strategic Bitcoin reserve and allocate 2,000 megawatts of energy to support Bitcoin mining and AI data centers. Pakistan’s National Bitcoin Wallet: “We Will Never Sell” Inspired by the U.S. government’s Bitcoin reserve initiative, Pakistan plans to accumulate and hold Bitcoin from legal sources, pledging long-term commitment. “This wallet, the national bitcoin wallet, is not for speculation or hype. We will never, ever sell them,”…
The UK’s Financial Conduct Authority (FCA) is taking a step closer to finalizing its stablecoin regulatory framework, announcing on Wednesday that it is seeking additional industry input to shape the new rules. The proposals aim to ensure stablecoins maintain their value and reduce the risk of failure among stablecoin issuers and crypto custody providers. FCA Aims to Prevent Crypto Custody Failures According to the FCA, the new rules are designed to protect consumers and prevent the kind of collapse seen with algorithmic stablecoins like TerraUSD in 2022, which wiped out billions in investor savings. “Our proposals are focused on reducing…
Nvidia Corp. (NVDA) delivered a mixed Q1 2026 earnings report, beating revenue expectations but missing slightly on earnings, while forecasting an $8 billion hit due to US export restrictions on its AI chips to China. Q1 2026 Earnings Snapshot In earnings released May 28 for its fiscal first quarter ended April 27, Nvidia posted: Despite the EPS miss, Nvidia shares surged nearly 5% in after-hours trading, climbing from $134.81 to $141.40. $8B Revenue Hit from China Curbs The revenue beat was dampened by a $4.5 billion charge tied to US government export controls, which ban sales of Nvidia’s H20 AI…
Eric Trump and Donald Trump Jr. made headlines at the Bitcoin 2025 conference in Las Vegas, projecting Bitcoin could hit $170,000 or higher by the end of 2026. The brothers cited growing global adoption, institutional interest, and personal experience in crypto as key drivers. Trump Sons See $170K Bitcoin Ahead Eric Trump quipped that Bitcoin could “clear the moon” next year, while Don Jr. estimated BTC could land between $150K and $175K by the end of 2026. “Every single day, people are allocating billions of dollars to it,” Eric said. “0.1 Bitcoin is going to be worth a fortune.” Bitcoin…
Polygon Labs and leading crypto market maker GSR have launched Katana, a DeFi-focused blockchain, in private mainnet mode as of May 29, 2025. The innovative chain is designed to concentrate liquidity and offer sustainable yield across decentralized finance protocols, setting the stage for a more unified DeFi experience. Katana’s Vision: Concentrated Liquidity and Real Yield Katana aims to eliminate fragmentation in DeFi by aggregating liquidity across key protocols. “Katana is tailor-made to ensure liquidity is concentrated and deep, for low slippage and stable borrowing/lending rates,” the developers explained. Unlike traditional DeFi platforms, Katana acts as a unified DeFi engine, working…
In a significant shift for the U.S. retirement investment landscape, the Department of Labor (DOL) has withdrawn its 2022 guidance cautioning against cryptocurrency investments in 401(k) retirement plans. The reversal aligns with the Trump administration’s pro-crypto agenda, reflecting a broader trend in U.S. policy toward digital assets. DOL: No More Picking “Winners and Losers” The new compliance directive, released on May 28, signals a return to neutrality in asset selection, stating that the DOL “has no business singling out assets for warnings or praise.” “We’re rolling back this overreach and making it clear that investment decisions should be made by…