Arizona&#8217;s new Bitcoin reserve law could position the state as a leader in 
digital asset management, influencing future state-level policies.
The post Arizona passes first bill to establish Bitcoin reserve after vetoing 
separate crypto legislation appeared first on Crypto Briefing.

Arizona passes first bill to establish Bitcoin reserve after vetoing separate crypto legislation

Robert Kiyosaki ignites bullish momentum for bitcoin, declaring it the 
ultimate shield against looming market collapse, runaway inflation, and 
relentless fiat debasement by central banks. Kiyosaki Doubles Down on Bitcoin 
as Fed Prints Fake Money and Inflation Accelerates Robert Kiyosaki, author of 
the best-selling personal finance classic Rich Dad Poor Dad, has weighed in 
once […]

Robert Kiyosaki Backs Bitcoin Over Gold Amid ‘Biggest’ Crash Warning

Binance founder and convicted felon Changpeng Zhao says that he applied for a 
pardon from US President Donald Trump shortly after denying reports that he 
was seeking one.
Zhao, also known as CZ, said on a Farokh Radio podcast episode aired May 6 
that he &#8220;wouldn&#8217;t mind&#8221; a pardon and that his lawyers have already filed the 
paperwork on his behalf
&#8220;I got lawyers applying,&#8221; Zhao said, adding that he submitted the request 
after Bloomberg and The Wall Street Journal reported in March that he was 
seeking a pardon from Trump amid discussions of a business deal between the 
Trump family and Binance.US.
Zhao denied the reports at the time, but said on the podcast that he thought 
&#8220;if they&#8217;re writing this article, I may as well just officially apply.&#8221;
He added that Trump&#8217;s pardon of three BitMEX founders, including Arthur Hayes, 
also motivated him to submit an application.
Zhao said the application was submitted about two weeks ago.
_Changpeng Zhao (right) speaking with Farokh Sarmad (left). Source:__Farokh 
Radio_ 
Zhao said at the time of the Bloomberg and Wall Street Journal reports that 
&#8220;no felon would mind a pardon,&#8221; and claimed he is the only person in US 
history to serve prison time for a Bank Secrecy Act charge.
Zhao pleaded guilty to a money laundering charge in November 2023 as part of a 
deal Binance reached with US authorities, which saw it pay a $4.3 billion 
fine, to which Zhao contributed $50 million. He was also forced to step down 
as CEO.
Zhao was later sentenced to four months in prison and was prohibited from 
working at Binance as part of his plea deal.
_**Related:**__**VanEck files for BNB ETF, first in US**_
According to the US Department of Justice, a pardon would not erase Zhao&#8217;s 
money laundering conviction; however, it could potentially allow him to assume 
a management or operational role at Binance.US.
## Zhao has no plans to return as Binance CEO
While Zhao remains a Binance shareholder, he said in November at Binance 
Blockchain Week that he has &#8220;no plans to return to the CEO position.&#8221;
&#8220;I feel the team is doing well and doesn&#8217;t need me back,&#8221; Zhao said.
Since leaving prison, Zhao has commenced advisory roles in Pakistan and 
Kyrgyzstan, assisting on matters related to crypto regulation and implementing 
blockchain solutions.
_**Magazine:**__**Bitcoiner Adam Back on Blockstream conspiracy theories and 
Satoshi question**_

Binance founder CZ asked Trump to pardon money laundering conviction

As the XRP price takes center stage, bold predictions about its future outlook 
persist across online forums and social media. Among the most ambitious claims 
is the idea that the XRP price could skyrocket to $1,000 or even beyond. In 
response to these projections, a crypto analyst has outlined several key 
factors that would need to align for XRP to reach such a target. Factors 
Needed To Take The XRP Price To $1,000 While it’s tempting to imagine XRP 
hitting a four-digit price target, X (formerly Twitter) crypto analyst Jasmin 
argues that the numbers don&#8217;t support such a prediction. For the XRP price to 
reach $1,000, it would need to climb as high as 46,848%, accompanied by key 
factors like a significant rise in global adoption, especially by financial 
institutions. Related Reading: XRP Price To $1,000: Analyst Reveals Target For 
When Banks Start Using XRP Although Ripple, a blockchain company, has made 
progress in partnering with global banks and fintech firms for cross-border 
payments, that level of adoption is still nowhere near enough to support a 
$1,000 XRP price tag. To even approach this level, XRP would need to become a 
fundamental part of the global financial structure across different sectors, 
particularly in banking, remittance, and investment. But beyond simple 
adoption, XRP would have to be deeply integrated into major economies in such 
a way that it becomes an indispensable currency for daily transactions. For 
this to happen, Jasmin reveals that the cryptocurrency would need widespread 
regulatory clarity to ensure that it can be used in multiple jurisdictions 
without any legal barriers. The ongoing legal battle between Ripple and the US 
SEC has already created years&#8217; worth of uncertainty around XRP’s legal status. 
Until this issue is resolved favorably, the cryptocurrency’s potential for 
mainstream adoption remains limited. Jasmin has also highlighted that XRP 
would have to incorporate mechanisms that would drastically reduce its 
circulating supply. While the cryptocurrency’s price could grow with more 
aggressive token burns, a jump to $1,000 still seems unlikely. Such a high 
valuation would also need massive speculative trading activities, which are 
usually seen during bull markets. How Market Cap Influences A $1,000 
Projection Based on Jasmin’s analysis, the most significant factor that makes 
a $1,000 XRP price projection unrealistic is its market capitalization. 
Currently, XRP has a market cap of about $125.15 billion, and for its price to 
hit a four-digit level, its total market valuation would need to reach $50 
trillion. Related Reading: XRP Price Cross That Led To 20x Rally In 2017 
Returns To put this in perspective, the global crypto market capitalization 
today is $3.09 trillion, according to CoinGecko data. This would mean that XRP 
alone would need a market cap over 15x higher than the entire crypto market. 
Furthermore, Bitcoin, the largest cryptocurrency, has never even come close to 
reaching a $10 trillion market cap. BTC’s market valuation currently sits at 
$1.92 trillion, meaning XRP would have to surpass it by over 25x to get a $50 
trillion market cap. Due to these extreme market cap requirements, Jasmin 
argues that a $1,000 or even $10,000 target is highly unrealistic. However, 
she acknowledges that a price surge to $5 or even $10 is a far more attainable 
goal. Featured image from Getty Images, chart from Tradingview.com

Analyst Says These Factors Will Drive XRP Price To $1,000, But What Does Market Cap Say?

Congress faces mounting pressure to pass landmark crypto legislation as U.S. 
leadership in digital finance hangs in the balance. Steil Urges Swift 
Bipartisan Action on Digital Asset Regulation at Congressional Roundtable U.S. 
Representative Bryan Steil (R-WI) called for immediate bipartisan action on 
digital asset legislation at a joint roundtable held May 6 by the U.S. […]

Cryptocurrency price in HKD