Black Mirror Just Became a Real Blockchain Game
Good morning everyone, it's Friday, May 2nd, 2025. My name is Matt and this is your Daily Crypto News. If you're new here, make sure to head over to Spotify, click those five stars, leave a comment, and if you want these updates sent straight to your inbox, sign up at dailycrypto.net. Alright, let’s get into today’s news.
🏛️ Senate Majority Leader Expedites Vote on Landmark Stablecoin Bill
🚫 EU Set to Ban Anonymous Privacy Tokens by 2027
🎮 Black Mirror Memecoin Turns Social Credit Into a Crypto Game
🦖 Claynosaurz Launches NFT Game Using Solana and Sui
📈 Crypto Decoupling Narrative Ends as Stocks Follow Bitcoin Rally
Stablecoin Regulation Incoming: The GENIUS Act
Senate Majority Leader John Thune is fast-tracking the GENIUS Act—a Republican-led bill aiming to be the first real U.S. regulatory framework for stablecoins. Sponsored by Senator Bill Hagerty and backed by Senators Tim Scott and Cynthia Lummis, the goal is to reinforce the U.S. dollar’s dominance in digital finance. The legislation cleared committee back in March and was expected to hit the Senate floor by the end of April.
Pushback is coming from banking advocates who are worried this opens the door for Big Tech and non-banks to compete with traditional banks. Competition—what a terrifying idea. The GENIUS Act also differs from the House's STABLE Act in key areas like reserve requirements and algorithmic stablecoins. And yes, we still have folks launching algorithmic stablecoins—stop that. The Trump administration wants this passed before the August recess, but Coinbase and Andreessen Horowitz are already lobbying to stall it.
EU Privacy Crackdown: Monero and Zcash in the Crosshairs
Across the pond, the European Union finalized regulations under the Anti-Money Laundering Regulation (AMLR) that will outright ban anonymous crypto accounts and privacy coins like Monero and Zcash by 2027.
These rules prohibit crypto asset providers, banks, and financial institutions from supporting privacy-preserving transactions. So long, Tornado Cash. Welcome to full-spectrum surveillance, all in the name of anti-terrorism. A new EU Anti-Money Laundering Authority will oversee implementation, and crypto firms operating in multiple EU countries will fall under its direct supervision.
This is yet another step toward eliminating privacy in digital finance. And we’re not even pretending anymore—it’s about total transparency of every transaction. Meanwhile, nobody is stepping up to defend individual privacy. It's frustrating to see this slow erosion of rights with barely a fight. Let me know what you think: matt@dailycryptonews.net or comment on Spotify.
Black Mirror Goes Blockchain: Gamified Social Credit Scores
Let’s keep that dystopian train rolling. A licensed Black Mirror cryptocurrency just launched—and yes, it comes with a gamified social credit system.
The token includes a virtual assistant named Iris that tracks your blockchain activity and social media engagement to assign you a reputation score. You can earn airdrops and influence if you're "good," or get penalized and lose access if you behave "poorly." Great.
Over 13,000 users have already signed up. No blockchain has been confirmed yet for minting, but Ethereum and Solana wallets are supported. This is Smile Club 2.0, but now you’re getting graded by AI. Cool.
Claynosaurz Expands from Solana to Sui
Claynosaurz, the NFT brand that started on Solana, is now expanding to Sui. Announced at Token2049’s Sui Basecamp, this isn’t a chain migration—it’s a broadening of their universe.
Genesis NFTs will stay on Solana, but a new 25,000-NFT collection called Popkins will launch on Sui. They're going with booster packs instead of traditional minting, and some packs will come with exclusive perks. They’re also working on a mobile game for iOS, Android, and the upcoming SuiPlay 0x1 handheld console.
The expansion makes sense—Sui offers scalability and flexibility, and Claynosaurz is leaning into that for a growing ecosystem.
Crypto’s Not Decoupling, It’s Syncing with Wall Street
Despite all the talk of Bitcoin decoupling from stocks, the past 10 days say otherwise. Bitcoin and major altcoins have tracked the S&P 500 closely, especially as investors start anticipating more liquidity from the Fed. Since March, crypto is up 8.5%, while the S&P has dipped 5.3%. Over six months, crypto's up 29% and stocks are down 2%.
What’s going on? Some say we’re heading back to risk-on investing because recession fears are fading. I disagree. I think recession fears are rising, but liquidity fears are fading. Everyone’s front-running what they think is coming: a Fed rate cut and a flood of new money. That means big bets on assets that can move fast—like crypto.
Also, as we talked about in our recent X Spaces, Bitcoin's narrative is all over the place. It was peer-to-peer cash, then it was digital gold, now it’s a Layer 1 to build on? Until Bitcoin matures and we settle on what it is, it’s just another risk asset moving with the market.
Listener Q&A
JGleick asked about the DTCC and tokenization. The Depository Trust & Clearing Corporation filed a patent to tokenize securities, and yes, it mentioned HBAR, Ethereum, and Bitcoin. Is this a sign of a tidal wave of liquidity into crypto? Probably not right away.
These are early-stage ideas. We also saw Solana pitch the SEC an 18-month trial called Project Open. Tokenizing trillions of dollars of financial infrastructure isn’t something you flip on overnight. We’ll see pilot programs first, probably lasting years. If it works, then comes the buildout—and then comes the money.
Someone asked how to see Trader Cobb’s charts. Easy: Go to dailycryptonews.net and sign up for the daily email. We include his video breakdowns there. If you're on Substack, we also drop the videos and bullet points in the Twitter feed. Easy peasy.
Kaleb followed up on the Ripple–Circle drama. He said Ripple might just wait for Circle to go public and then buy up stock on the open market. He’s right—and yesterday I totally misunderstood his point.
Kaleb also pointed out that Circle’s revenue is at risk if the Fed cuts rates. Lower rates mean lower returns on their reserves, which means less money. If that happens post-IPO, Ripple might see an opportunity.
That said, I don’t think a $5 billion buyout was ever going to fly. Circle could be worth $20–30 billion on the open market, maybe more. And Ripple doesn’t have unlimited cash to go buying up 51% of that.
This seems like Ripple wants product-market fit and Circle has what Ripple wants. But Circle probably doesn’t need Ripple. More to come.
Crypto Prices
As of 8:59 a.m. EST:
Fear & Greed Index: 55 – Neutral
Bitcoin: $97,178, up 0.82%
Ethereum: $1,840, down 0.5%
XRP: $0.222, down 0.7%
BNB: $599, down 0.7%
Solana: $150, down 0.8%
Dogecoin: $0.182, up 1.7%
Cardano: $0.712, up 1%
Tron: $0.245, down 1.5%
Total crypto market cap: $3.02 trillion (up 0.3%)
Bitcoin dominance: $1.93 trillion
Ethereum dominance: $222.2 billion
That’s our show. Thanks for listening. Have a great weekend—and as always, happy hodling, everyone.