BroadChain News, April 24, 02:16 - Blockchain Capital plans to raise $700 million for two new funds, one focusing on early-stage investments and the other on later-stage opportunities. The venture capital firm has previously managed multiple funds with a total scale exceeding tens of billions of dollars. Admiral Samuel Paparo, Commander of the U.S. Pacific Command, disclosed during a congressional hearing that the U.S. government currently operates a Bitcoin network node for cybersecurity testing but does not participate in Bitcoin mining.
Paparo stated that the military views Bitcoin as a cryptographic tool, a blockchain, and a reusable proof-of-work system used to protect and enhance cybersecurity, rather than as a financial asset for hoarding. He also praised the stablecoin legislation, the GENIUS Act, as an "important step" in ensuring the global dominance of the U.S. dollar. Thailand's SEC plans to revise digital asset derivatives rules, allowing digital asset operators to directly apply for derivatives trading licenses without needing to establish new companies.
This move aims to promote the recognition of digital assets as an asset class and provide investors with more hedging tools. The revision requires digital asset exchanges to establish appropriate conflict-of-interest prevention mechanisms when applying for derivatives licenses, while also raising financial standards for derivatives exchanges and clearing houses. The deadline for feedback is May 20, 2026.
U.S. Senator Bernie Moreno stated at a Washington event that legislation regulating crypto market structure is expected to be completed by the end of May. Moreno warned last month that if the CLEAR Act fails to pass in May, crypto legislation could stall for some time. Regarding banks' opposition to stablecoin yields, Moreno said, "There's a lot of noise in the system, and it's all fake," urging banks to "accelerate innovation."
New York Governor Kathy Hochul signed an executive order prohibiting state employees from using insider information to bet on prediction markets. In the order, Hochul cited the "recent surge in prediction markets" and barred state employees from profiting or assisting others in profiting from non-public information obtained through their positions. Illinois Governor JB Pritzker issued a similar executive order on Tuesday. Hochul also stated that three insider cases involving candidates betting on themselves have been handled, with fines imposed and their qualifications suspended.