[News Brief] Apr 22, morning | White House Official Says Announcement on Strategic Bitcoin Reserve Coming Soon

White House Official Says Announcement on Strategic Bitcoin Reserve Coming Soon

According to Bitcoin Magazine, a White House official said that “an announcement will be made soon” regarding a strategic Bitcoin reserve.

The official said there has been meaningful progress in legally organizing the necessary procedures and establishing a framework to properly safeguard the assets.

A strategic Bitcoin reserve is tied to how the U.S. government may hold and manage digital assets, and the market may interpret it as a signal of Bitcoin’s integration into the institutional mainstream.

Echo Protocol Attacked on Monad Chain, 1,000 eBTC Minted

Echo Protocol was attacked on the Monad chain, with the attacker minting 1,000 eBTC (about $76.7 million) and then withdrawing part of the funds through Kurb Finance.

Source: PANews. According to Onchain Lens, the attacker deposited 45 eBTC (about $3.45 million) as collateral on Kurb Finance, borrowed 11.29 WBTC (about $867,700), moved it to Ethereum, and swapped it for ETH.

The attacker later sent 385 ETH (about $818,000) to Tornado Cash and is believed to still hold a large portion of the minted eBTC. The exploit reportedly used a path that had previously been tested.

Swan Bitcoin Faces Roughly $1 Billion Lawsuit Related to Prime Trust

Swan Bitcoin is facing a lawsuit worth about $1 billion over allegations that it used insider information before Prime Trust’s bankruptcy to avoid losses.

According to Odaily, the PCT Litigation Trust filed a lawsuit against Swan Bitcoin seeking the return of crypto and cash assets transferred out of Prime Trust.

The plaintiffs allege that Swan Bitcoin gained access to non-public information and moved fiat and crypto assets just before Prime Trust filed for bankruptcy in 2023. The assets in question reportedly include 11,992 BTC, $22.4 million in cash, $5 million in stablecoins, and 91,444 XRP.

The complaint also alleges that a senior Prime Trust executive, while serving as an outside adviser to Swan Bitcoin, helped provide access to internal information. Swan said customer assets were held in trust accounts and therefore are not subject to claims by unsecured creditors.

Russian Financial Regulator Urges Bank-Level Regulation for Crypto Exchanges

Russia’s financial watchdog said crypto exchanges should be regulated to the same standard as banks in order to eliminate regulatory arbitrage.

According to Odaily, German Neglyad, deputy head of Russia’s financial monitoring agency, said banks face strict supervision while crypto transactions remain in a regulatory gap that criminals can exploit for money laundering.

He said that while some in the industry worry stronger regulation could push the market into gray areas, bank-level regulation is a normal practice.

Neglyad also said anti-money laundering bodies are urging countries to regulate crypto circulation, warning that Russia could face disadvantages in credit ratings if it fails to build a control framework.

Russia’s membership in the anti-money laundering body is currently suspended. A related crypto market regulation bill has passed its first reading in the State Duma and is awaiting a second reading.

Minnesota to Allow Banks and Credit Unions to Custody Crypto Starting in August

Minnesota will allow state-chartered banks and credit unions to provide cryptocurrency custody services starting Aug. 1.

PANews, citing CoinDesk, reported that Minnesota Governor Tim Walz signed a virtual asset bill into law. The bill requires customer assets to be separated from institutional assets and requires institutions to submit risk management and cybersecurity plans to the state commerce commissioner 60 days in advance.

With this move, Minnesota became the first state in the Midwest to establish an integrated digital asset security framework for banks and credit unions. The state also signed a bill banning the installation of crypto ATMs statewide beginning Aug. 1, reflecting concerns that they could be used in scams targeting vulnerable groups.

Galaxy Digital Receives New York BitLicense and Money Transmitter License Approval

According to Odaily, Galaxy Digital said it received approval from the New York State Department of Financial Services for a BitLicense and a money transmitter license, allowing it to provide digital asset services in New York.

The licenses apply to its subsidiary GalaxyOne Prime NY, which will provide trading and custody services to New York residents as well as institutional and corporate clients.

Galaxy said New York is the most concentrated market for institutional capital in the U.S., and that the approvals will allow it to more directly support local institutional clients as digital assets increasingly enter mainstream asset allocation.

U.S. SEC Preparing to Allow Blockchain-Based Tokenized Stock Trading

The U.S. Securities and Exchange Commission is preparing to allow blockchain-based trading of tokenized stocks, according to Watcher.Guru.

Tokenized stocks represent the rights of traditional shares in token form on a blockchain. The move is drawing market attention as it aligns with broader efforts to formalize tokenized securities trading in the United States.

RWA Market Expands to $31.4 Billion

The market size of tokenized real-world assets (RWA) has expanded to about $31.4 billion, PANews reported on the 19th, citing Cointelegraph data.

This marks an approximately fivefold increase from the beginning of 2025. RWA tokenization refers to the issuance and trading of traditional assets such as bonds and real estate as blockchain-based tokens, and the sector continues to grow alongside rising institutional demand.

U.S. Spot SOL ETFs See $2.05 Million in Daily Net Inflows

According to Odaily, data from SoSoValue showed that U.S. spot SOL ETFs recorded net inflows of $2,055,200 on May 18 (U.S. Eastern Time).

The Fidelity Solana Fund ETF posted net inflows of $2,982,300, bringing its cumulative net inflows to $174 million.

Meanwhile, the VanEck Solana ETF recorded net outflows of $1,123,300. Total net assets across spot SOL ETFs stood at $957 million, while cumulative net inflows reached $1.117 billion.

Number of Wallets Holding More Than 100 BTC Rises to 20,229

Odaily, citing Santiment data, reported that the number of wallets holding more than 100 BTC has risen to 20,229.

That is up about 11.2% from a year earlier. Analysts say the accumulation trend among large holders and institutional investors continues despite market volatility.