Trump to Name New Fed and BLS Picks After Jobs Data Clash

Bullish Targets $4.23B Valuation in Second IPO Attempt, Eyes $629M Raise Amid Stablecoin Momentum and Regulatory Tailwinds

Crypto exchange Bullish has launched its U.S. IPO roadshow, aiming to raise up to $629.3 million at a valuation of up to $4.23 billion. This marks its second attempt to go public after scrapping a $9 billion SPAC deal in 2022. Backed by Peter Thiel and led by former NYSE president Thomas Farley, Bullish plans to convert much of the IPO proceeds into stablecoins, capitalizing on recent regulatory clarity under the Trump administration and the GENIUS Act.

Grayscale Appoints Four New Executives, Reinstates Founder Barry Silbert as Chairman After Confidential IPO Filing

Grayscale Investments has added four new senior executives from top traditional finance firms and reinstated founder Barry Silbert as board chairman, following its confidential IPO filing last month. The new hires—Diana Zhang, Ramona Boston, Andrea Williams, and Maxwell Rosenthal—bring experience from Bridgewater, Apollo, Goldman Sachs, and Citadel. Silbert replaces Mark Shifke as chairman, returning after stepping down in late 2023 amid legal challenges facing parent company DCG. Grayscale now manages over $35 billion in assets across a wide range of crypto investment products.

Trump to Appoint New Fed Governor and Jobs Data Chief After Firing BLS Head Over ‘Rigged’ Report

President Donald Trump says he will soon name a new Federal Reserve governor and a new Bureau of Labor Statistics chief, moves that could reshape his economic policy heading into the election. The Fed vacancy follows Adriana Kugler’s early resignation, giving Trump a chance to install a rate-cutting ally ahead of Jerome Powell’s term ending in May. Potential picks include Kevin Hassett, Kevin Warsh, Christopher Waller, and Scott Bessent. Trump also ousted BLS head Erika McEntarfer after weak job numbers, calling the data “rigged” and promising an “exceptional replacement.”

Phantom Acquires Solsniper to Bolster In-App Memecoin Trading and Analytics, Plans More Aggressive Expansion Ahead

Phantom has acquired Solana-based trading and analytics platform Solsniper in a move to deepen its trading features and keep users within its ecosystem. While deal terms remain undisclosed, Solsniper’s web app will stay live and its team, led by CEO Max Zhuang, will join Phantom. The acquisition follows Phantom’s launch of perpetual trading via Hyperliquid and signals a broader push into memecoin infrastructure. Solsniper’s Telegram bot and advanced analytics tools will complement Phantom’s growing product suite, with CEO Brandon Millman hinting at more acquisitions as part of a plan to build a dominant consumer finance platform.

Crypto Investment Products See $223M in Outflows as Bitcoin Slips and Ethereum Inflows Hit 15-Week Streak

Crypto funds managed by BlackRock, Grayscale, Fidelity, and others recorded $223 million in net outflows last week, ending a 15-week inflow streak. Early-week inflows of $883 million were erased after hawkish Fed signals and strong U.S. economic data triggered a risk-off move. Bitcoin products led the outflows with $404 million, mostly from U.S. spot ETFs, while Ethereum-based products saw $133 million in net inflows, marking their 15th consecutive week of gains. XRP, Solana, and Sei also posted smaller inflows.