During a speech at the FT Digital Assets Summit, the investor emphasized that companies that have not included bitcoin in their reserves are acting to the detriment of themselves and their shareholders. According to him, the rate of the first cryptocurrency will reach $250,000 by the end of the year, and the delay in the growth of quotations is due to excessive regulation of the past White House administration. However, the trend will change soon, Draper is confident.
“After gunpowder came along, wars changed, and after bitcoin came along, all commerce in the world will change,” he said.
The billionaire added that he plans to create a new fund within the next five years, which will be based on the first cryptocurrency. All transactions will automate smart contracts, which will reduce the cost of auditing and consultants to zero.
If earlier innovations were created on the blockchains of Ethereum and Solana, now the developers have focused on Bitcoin. Thanks to smart contracts, the network is transforming into a multifunctional platform, the entrepreneur noted. In his opinion, fiat currencies will soon be replaced by stablecoins, and those will subsequently give way to the first cryptocurrency.
Earlier, experts from Fidelity's virtual assets division said that the Net Unrealized Profit and Loss (NUPL) indicator indicates that bitcoin has moved from the “belief and denial” phase to the “optimism and anxiety” phase.
The U.S. Office of the Comptroller of the Currency (OCC), which regulates national banks, continued to radically change its previous attitude toward cryptocurrencies in banking by issuing clarification letters stating that institutions may - at the request of their customers - buy and sell cryptoassets in custody.
The outlined policy position issued by the OCC also clarifies that bankers can outsource crypto activities to third parties, including custody and execution services. As long as all of this still meets the supervisor's safety and soundness requirements, the OCC is giving banks more crypto freedom.
What are the experts saying? This week's authorization follows the agency's March change to a longstanding policy that required bankers to consult with their state supervisors before embarking on a new crypto business.
According to Katherine Kirkpatrick Bos, general counsel of Starkware and former chief legal officer of Cboe Digital, the letters signal a change in the OCC's approach. She added that the agency has now given the green light to integrating cryptocurrencies into traditional banking. And the additional guidance that third parties are acceptable “is a boon for regulated crypto service providers.”
Earlier, the U.S. Federal Reserve withdrew guidance that kept banks from engaging in cryptocurrency and stablecoin-related activities. Specifically, the Fed's Board of Governors rescinded a 2022 supervisory letter that required financial institutions to provide advance notice of planned cryptoasset activity.
According to Andre Dragosz, the growth of the coin's popularity will be ensured by capital inflows. Bitcoin could exceed $200,000 in the current market cycle in the baseline scenario, the analyst believes.
"Over the next few years, we will see increasing inflows of funds. If you consider this in the context of a four-year bitcoin cycle - it comes out, the cycle will be extended," the expert said.
He said that in the U.S. now, the main investments in cryptocurrency go through a few large banks, such as Merrill Lynch or Morgan Stanley (NYSE:MS). At the same time, less than half of the banks allow customers to invest in bitcoin through exchange-traded funds. For now, investors should be patient and be prepared for cryptocurrency quotes to fall. But in the long term, the bull cycle is inevitable, the expert emphasized.
Earlier, the head of research at the trading company Presto Research Peter Chang said that bitcoin is a “double agent”: a risky investment and digital gold at the same time.
Popular language learning platform Duolingo has unveiled 148 new courses created with generative AI and announced it is replacing contractors with machine learning technology with the goal of becoming an “AI-first” company.
"It took us about 12 years to develop our first 100 courses, and now we're able to create and launch almost 150 new courses in about a year. This is a great example of how generative AI can directly benefit our learners," said Duolingo co-founder and CEO Luis von Ahn.
Journalist Brian Merchant noted that the shift to AI isn't actually a new policy for Duolingo. The company laid off about 10% of its contractors at the end of 2023, and another series of layoffs took place in October 2024, a former employee said. In both cases, workers were replaced by artificial intelligence.
Merchant also pointed to The Atlantic's publication of an unusually high unemployment rate among recent college graduates. Presumably, companies are using AI to replace white-collar workers.
"Almost every professional artist or illustrator I meet tells me that they have lost clients and jobs because of firms that have decided to turn to artificial intelligence instead of paying for human labor. Some have been forced out of their fields altogether," Merchant emphasized.
The crisis has arisen because of a series of management decisions made by executives seeking to cut labor costs and consolidate control in their organizations, the journalist noted. This is evident in attrition in the creative industries, declining incomes for freelance artists, writers and illustrators, and the tendency of corporations to simply hire fewer workers.
“The AI jobs crisis is not some SkyNet-style robot apocalypse, but the layoff of tens of thousands of federal employees waving the banner of the first AI strategy,” the expert added.
Dismissals
According to layoff tracking website Layoffs.Fyi, 121 tech companies will lay off 52,305 employees in 2025. Including Google, Meta, Microsoft, Intel and other firms have announced job cuts to streamline and automate their operations. By comparison:
551 companies laid off 152,922 employees in 2024;
in 2023, 1193 companies laid off 264,220 employees;
in 2022, 1064 companies laid off 165,269 employees.
The number of software developer jobs on Indeed, a popular job search site, has been falling since 2022.
Recall, in August 2024 British trade unions warned of the risk of millions of cuts due to artificial intelligence.
State Democracy Defenders Action, a non-profit organization that claims to be “fighting autocracy,” has published a report on Donald Trump's family fortune. According to its estimates, digital assets account for almost 40% of the fortune of the US president and his relatives. They are currently estimated at $2.9 billion.
Trump's crypto accounts hold, among other things, the memcoins TRUMP, MELANIA. In addition, the President's family owns a significant share of the assets of the crypto project World Liberty Financial (WLFI), launched in 2024.
According to State Democracy Defenders Action, Trump owns 60% of World Liberty Financial and 22.5 billion WLFI tokens.
Trump's crypto portfolio could soon grow even larger. This week, World Liberty Financial announced that MGX plans to invest $2 billion in the organization by buying its new USD1 stablecoin. At the Token2049 conference on May 1, World Liberty Financial co-founder Zach Whitkoff also announced that USD1 has been selected as the official steiblcoin for MGX's investment in Binance.
Interestingly, State Democracy Defenders Action, which conducted the study, describes itself as impartial. However, its leadership consists of longtime critics of the 47th president of the United States.
The United States is unlikely to actively replenish reserves in the first cryptocurrency, BitMEX co-founder Arthur Hayes suggested.
The expert doubted that digital reserves would go far beyond the ~200,000 BTC (~$19.8 billion) already in their possession - mostly assets seized as part of criminal investigations, including the Silk Road case.
Hayes cited two key reasons in defense of his position: the skyrocketing national debt and a cultural image of bitcoin investors that doesn't fit within the traditional political agenda.
"Especially when the popular rhetoric is a bunch of bitcoin bros going to the club [...]. Is that how you want people to perceive your politics?" the expert shared his thoughts.
According to him, no “normally elected” official will be able to convincingly explain why printing money to buy a volatile digital asset.
“The United States is a deficit country,” Hayes emphasized. - The only way for them to build a strategic reserve is to not sell bitcoins they've taken from the people. Okay, that's 200,000 BTC."
Back on track
In the context of the cryptocurrency market, Hayes is convinced of the return of the bitcoin dominance index to pre-2021 levels - at the 70% mark. This would signal the resumption of the boom-and-bust cycle, which would be accompanied by a rally in altcoins.
"Bitcoin is back at record levels; bull markets are coming back and altcoins should perform better. 'Should' is the key word. It all depends on exactly what you are buying," he said.
At the time of writing, bitcoin's dominance index stands at 64%, according to CoinMarketCap.
As a reminder, Hayes is a firm believer in the first cryptocurrency reaching the $1 million milestone by 2028.
The largest crypto exchange Binance and the National Investment Agency under the President of Kyrgyzstan have joined forces to develop the digital assets segment.
“This agreement is aimed at creating a long-term sustainable platform for the development of strategic partnership in the developing sphere of digital assets and blockchain in the country,” the document says.
The memorandum of understanding was signed during the first meeting of the Digital Asset Development Council with the participation of Kyrgyz President Sadyr Zhaparov.
One of the key areas of cooperation will be the introduction of cryptocurrency payments through the Binance Pay service - primarily to simplify payments for tourists visiting the country. The initiative also covers cross-border payments in the Central Asian region and the EAEU.
The educational direction will be taken over by Binance Academy. It is planned to launch training programs for government agencies, banks, as well as a wide range of citizens, aimed at raising awareness about the opportunities and risks of cryptocurrencies. Special attention will be paid to financial literacy and support for the Web 3.0 ecosystem.
In April, Binance founder Changpeng Zhao became a consultant to the Kyrgyz government on cryptocurrency and blockchain issues.
In the same month, Zhaparov signed amendments to the law “On the National Bank”, allowing the launch of a pilot project of a prototype of the national digital currency.
Arizona Governor Kathy Hobbs vetoed a bill that would have authorized the state treasurer and pension funds to invest up to 10% of their funds in virtual assets like bitcoin.
The official emphasized that public finance is no place for “unproven investments,” which she referred to as digital currencies.
"Arizona's pension system is one of the most stable in the U.S. because it makes measured and sound investments. State residents' retirement savings are not the place to experiment with unproven assets like virtual currencies," said Governor Kathy Hobbs.
Bill 1025, approved by the state House of Representatives by the narrowest of margins (31 to 25), proposed investing confiscated funds in bitcoin and creating a state-administered digital asset reserve.
The legislation was co-sponsored by Senator Wendy Rogers and Assemblyman Jeff Weninger, both representing the Republican Party.
The official's decision drew sharp criticism from the bitcoin community.
“Impeach Katie Hobbs - she just let Arizona down,” Bitcoin Magazine head David Bailey opined.
Arizona could become the first American state to include digital gold in its financial reserves.
Recall, in early March, US President Donald Trump signed an executive order on the establishment of a federal SBR on the basis of assets confiscated by the Ministry of Finance.
In such states as Oklahoma, Montana, Pennsylvania, North and South Dakota, as well as Wyoming, attempts to create a strategic bitcoin reserve also failed.
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The Economic and Financial Crimes Commission of Nigeria has declared British national Eli Bitar wanted in connection with a major cryptocurrency investment fraud. The scheme operated through the now defunct Crypto Bridge Exchange (CBEX) and is believed to have defrauded thousands of Nigerian investors of over 1.2 trillion naira.
According to a statement from the Commission, the 41-year-old foreigner is accused of running a crypto scam by promising unrealistic profits while not being subject to Nigeria's financial regulations. His eight accomplices who helped convince would-be victims to participate in the scheme are also wanted. One of the suspects has already turned himself in to the police.
Trouble with CBEX began in April 2025 when users of the exchange experienced withdrawal problems. The panic intensified after the platform introduced suspicious rules where customers were asked to deposit additional funds under the pretext of account verification. A short while later, a local publication, Punch, reported that CBEX had misappropriated over 1.2 trillion naira from over 600,000 Nigerians.
Later, the Nigerian Securities and Exchange Commission later confirmed that CBEX was not registered with the agency as an investment platform.