Crypto
President Donald Trump Signs More Executive Orders
David Sacks, President Donald Trump’s “AI and Crypto Czar,” speaks to Trump about crypto, probably

Who’s going to the crypto summit in DC as rumors swirl

Big hopes for the Friday White House event are leading to big guesses, but here’s what we know.

Yaël Bizouati-Kennedy

The White House is hosting its inaugural “Crypto Summit” Friday, and gossip is spreading about this exclusive affair with reportedly only 25 attendees. Right now there are a lot of rumors swirling, like President Trump cutting capital gains to 0% “for crypto held over a year,” but little to back them up.

The biggest question is whether Trump will lay out details on the national strategic cryptocurrency reserve and if it will contain more than bitcoin, as he announced last weekend. One outlet reported that Commerce Secretary Howard Lutnick said the model will be announced on Friday, but there have been no corroborating reports on this. 

The meeting will be chaired by Trump’s “Crypto Czar” David Sacks, and we do have some details about who will sit at the table with him.

People who have RSVP’d yes:

Others who are on the invite list:

Vaguebooking it:

  • Robinhood’s Vlad Tenev said, “See you soon, DC,” in a post yesterday hinting he may be in attendance.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company.)

Beyond the potential announcements, many hope the summit will be a turning point for the industry. 

Ben James, founder of web3 platform 404, said that what truly matters is the broader regulatory approach — clear, innovation-friendly frameworks.

“These will be key to unlocking the full potential of blockchain technology, fostering sustainable growth, and positioning crypto as a cornerstone of the future digital economy,” James said.

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28
Sage D. Young

The decentralized finance ecosystem had a brutal April, logging the highest monthly number of exploits ever at 28 hacks, with exploiters siphoning off a total of $635.2 million, data from DefiLlama shows. 

The two largest exploits in April occurred on ethereum-based protocol KelpDAO and solana-native trading venue Drift. The incidents rattled on-chain users, as the total value locked in DeFi across all networks dropped from a monthly high of $99.5 billion to $84.3 billion on Friday. 

“It’s a real problem, and if AI proponents (thinking specifically of Anthropic’s claims about Mythos) are to be believed, it’s only going to get worse,” according to Fredrick Collins, CEO of crypto analytics platform Velo.xyz. Collins argued that these exploits act as a significant limiter of institutional appeal, pointing to TheBlock’s report last week that JPMorgan held a similar view. 

“It’s simple — for many people, having any chance that you lose your entire investment or balance in something supposed to be ‘safe’ is too much to bear,” Collins told Sherwood News. 

However, not everyone thinks the recent hacks will curb interest from institutions. Nicolai Søndergaard, a research analyst at blockchain data firm Nansen, said to Sherwood, “I do not think these hacks will be a limit to institutional capital given the impact of AI and the speed at which threats appear stretch far beyond this industry.” 

Søndergaard continued, “Crypto to me seems to have been hit harder as many projects perhaps wanted to get a product out there quickly and didn’t invest enough in security, even with companies around to audit.” 

DeFi aims to enable internet users to have access to financial services, such as borrowing, lending, and trading, without any centralized intermediaries.

Yaël Bizouati-Kennedy
16h
After bitcoin’s best month in a year, analysts weigh in on factors for it to break $80,000 in May

May has an over 7% average historical return, but whether bitcoin can replicate this result and finally break the $80,000 level hinges on several factors.

bitcoins on the eyes
crypto
Sage D. Young

Riot Platforms rises following Q1 revenue beat

The bitcoin miner turned data center operator released first-quarter earnings that surpassed expectations for revenue. Shares built on strong gains from Thursday’s session in after-hours trading following the results.

Riot Platforms reported:

  • Q1 revenue of $167.2 million, growing 3.6% from the same quarter a year ago and surpassing analysts’ expectations of $131 million.

  • A diluted loss per share of $1.44, much worse than analysts’ consensus estimate of a $0.72 loss, which includes unrealized loss on its bitcoin holdings.

The bulk of company’s revenue stems from its bitcoin mining activity, which made up $111.9 million in the quarter, while its data center housing revenue stood at $33.2 million, per its press release.

The first quarter of 2026 marks an inflection point for Riot. CFO Jason Chung said on Thursday in the firm’s Q1 earnings conference call, “With the delivery of our first 5 megawatts to AMD this quarter, Riot is now an active data center operator, and for the first time, our top line now includes contracted lease revenue from an investment-grade tenant.”

The earnings report comes the same week the company announced amending its $200 million credit agreement with Coinbase by replacing a floating interest rate with a fixed rate, according to an SEC filing dated on Monday.

Sage D. Young
4/30/26
Trump-backed World Liberty token sinks to new all-time low amid governance proposal to unlock 62 billion tokens

The top 22 addresses voting in favor control 4.8 billion tokens, making up the majority of “yes” votes.

UAE-ECONOMY-CRYPTO-CONFERENCE
Yaël Bizouati-Kennedy
writing on the wall
4/30/26
Merger of Twenty One with Strike and Elektron may portend the future for digital asset treasury companies

“The market is realizing it simply isn’t a strong long-term company model.”

Merge

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