[News Brief] Apr 22, morning | Coinbase CEO Says U.S. Congress Is Close to Passing Crypto Regulatory Clarity Bill

Coinbase CEO Says U.S. Congress Is Close to Passing Crypto Regulatory Clarity Bill

Coinbase’s chief executive said the U.S. Congress is nearing passage of a bill aimed at providing regulatory clarity for Bitcoin and cryptocurrencies.

According to source @pete_rizzo_, the Coinbase CEO described the legislation as “the biggest financial bill in decades” and said it is “transformational in nature.”

He also said that “every major bank wants to enter the crypto market.” His remarks came as legislative discussions continue in the United States to clarify crypto market structure and regulatory standards.

Strive Seeks to Expand ATM Program Limit by $4.2 Billion for Additional BTC Purchases

According to Wu Blockchain, Bitcoin treasury firm Strive is seeking to increase its ATM program limit by a total of $4.2 billion to secure funding for additional BTC purchases.

Strive CEO Matt Cole said the company plans to raise the ATM program limits for ASST and SATA by $2.1 billion each. Previously, Strive raised about $194 million through a SATA preferred stock issuance, equivalent to around 2,621 BTC at current market prices.

Strive currently holds about 16,500 BTC, valued at approximately $1.27 billion.

Radiant Capital Begins Phased Wind-Down Process

According to Wu Blockchain, Radiant Capital said its DAO has initiated a phased wind-down process.

Radiant Capital explained that after suffering a hack of more than $50 million last October, it failed to recover funds, raise new capital, or restore growth.

The protocol will remain operational for withdrawals, loan repayments, and position management, but development and expansion efforts will be halted. Borrow limits will be reduced to zero, and RDNT incentives will also be discontinued.

Coinbase Releases Report on May Service Outage

According to Wu Blockchain, Coinbase released a report on the service outage that occurred on May 7. At the time, core services including trading and deposits/withdrawals were disrupted for about eight hours, and full recovery took about 12 hours.

The outage was reportedly caused by multiple cooling units failing simultaneously in an AWS us-east-1 availability zone, which led to server overheating and shutdowns.

Coinbase said the incident exposed limitations in its failover and disaster recovery systems, and it plans to strengthen regional redundancy, expand Kafka availability zone coverage, and broaden resilience testing.

Report Says SpaceX May Launch $2 Trillion IPO Within Days

@pete_rizzo_ said CNBC reported that SpaceX is expected to move forward with a $2 trillion initial public offering within days.

He added that SpaceX has disclosed holdings of more than 18,000 BTC, arguing that the listing could become a major IPO related to a Bitcoin-holding company.

SpaceX, led by Elon Musk, is a space company whose potential listing has long been a major point of market interest.

Unidentified Wallet Transfers 120.7 Million USDT to Bitfinex

According to Whale Alert, 120.7 million USDT, worth about $120.53 million, was transferred from an unidentified wallet to Bitfinex.

Large stablecoin inflows to exchanges may be interpreted as sidelined buying power or liquidity movement, though the actual purpose of the transfer remains unconfirmed.

120 Million USDT Moved From Bitfinex to Tether Treasury

Whale Alert reported on the 1st that 120 million USDT, worth about $119.91 million, was moved from Bitfinex to the Tether Treasury.

The transaction was confirmed on the Solana network. Large stablecoin movements are closely watched by the market as potential indicators of exchange liquidity changes or issuance/redemption-related fund flows.

1,158 BTC Transferred From Kraken to Unidentified Wallet

According to Whale Alert, 1,158 BTC was transferred from Kraken to an unidentified wallet.

The transfer was worth about $82.93 million. Large Bitcoin outflows from exchanges to external wallets may suggest holding or custody activity and are often interpreted by the market as a sign of supply changes.

Source: Whale Alert

1,000 BTC Moved From Bitfinex to Kraken

Whale Alert said 1,000 BTC was transferred from Bitfinex to Kraken.

The transfer was worth about $71.11 million. Funds moving into an exchange are generally associated with possible selling activity and are often viewed as a short-term supply-demand variable by the market.

BTC Falls Below $71,000

According to Odaily, BTC fell below $71,000 based on OKX market data.

BTC is currently trading at $70,999, down 3.71% over the past 24 hours.