The Block's daily curated Web3 news for you:
Google's market capitalization surged by $421 billion in a single day, the second-largest increase in history.
BlockBeats news: Alphabet (GOOG.O), the parent company of Google, closed up 10% at $384.80 per share, with a single-day market cap increase of $421 billion, marking the second-largest single-day market cap gain in history. The record holder is NVIDIA, which saw its market cap surge by approximately $440 billion about a year ago following Trump’s announcement of a pause on tariff hikes.
As of Thursday’s close, Alphabet’s stock has risen 23% this year, adding over $860 billion to its market value and bringing its total market cap to $4.65 trillion. This brings Alphabet closer to surpassing NVIDIA, the world’s largest company with a market cap of $4.85 trillion.
U.S. Senate prohibits senators from participating in prediction market trading
Beats News: The U.S. Senate unanimously passed Resolution S. Res. 708, prohibiting senators from participating in prediction market trading, effective immediately. The proposal, introduced by Bernie Moreno, aims to curb speculative trading using non-public information.
Recent related incidents have drawn regulatory attention, including individuals profiting from insider information in prediction markets. Meanwhile, platforms such as Kalshi and Polymarket are strengthening internal controls to prevent insider trading.
At the state level, New York and Illinois have also implemented similar measures to restrict public officials from using non-public information to participate in prediction markets.
Elon Musk said during the OpenAI trial “most cryptocurrencies are scams”
Beijing News reports that during the cross-examination at the trial of his lawsuit against OpenAI, Musk stated, "Some cryptocurrencies have value, but most are scams." The comment was made during the cross-examination at the court in Oakland, California, where the case involved OpenAI’s earlier consideration of raising funds through an ICO (initial coin offering).
According to reports, during the trial, Musk responded to related questions by pointing out that there is significant speculation and fraud in the cryptocurrency sector.
Notably, during the 2021 bull market, Musk encouraged Tesla to purchase approximately $1.5 billion in Bitcoin and publicly mentioned Dogecoin multiple times, driving significant price increases in these assets. However, Tesla reduced its Bitcoin holdings by 75% in 2022 and recorded an approximate $222 million impairment on its remaining position in the first quarter of 2026. As of the latest financial report, Tesla still holds approximately 11,509 Bitcoin, with a book value of about $786 million.
Trump said he may need to break the Iran ceasefire agreement.
BitPush news: U.S. President Trump commented on the status of negotiations with Iran but refused to rule out the possibility that hostilities could continue. When asked by reporters whether he was “eager to break the ceasefire agreement,” Trump said that negotiations with Iran face numerous challenges due to Tehran’s “intransigence,” as “no one knows who their leader is.” In circling back to the original question, he concluded, “I don’t know if we need to do that”; but then added, “We might actually need to.” Trump also called the blockade of the Strait of Hormuz “unthinkable” and claimed that Washington had “destroyed” Iran’s nuclear capabilities.
The U.S. House of Representatives has passed a funding bill, bringing an end to the 76-day shutdown of the Department of Homeland Security.
Beijing News: On Thursday, the U.S. House of Representatives unanimously passed a bill approved by the Senate to fund most departments of the Department of Homeland Security. This move will soon end a 76-day partial government shutdown, during which many key agencies have struggled to maintain operations and pay their employees. The bill passed by voice vote and is now headed to President Trump for signature. Once the president signs the bill, the Department of Homeland Security shutdown will be over. The department has been shut down since February 14, making it the longest partial government shutdown in U.S. history. Democrats opposed funding for Immigration and Customs Enforcement and Border Patrol, two agencies under the Department of Homeland Security that have been at the forefront of implementing Trump’s immigration policies.
Coinbase launches digital credit strategy CUSHY, introducing a tokenized share structure
Coinbase Asset Management (CBAM) has announced the launch of its digital credit strategy, CUSHY, introducing a tokenized shareclass mechanism to bridge traditional credit markets with on-chain finance. The strategy focuses on three key areas: on-chain highly liquid public credit assets, structured private credit for both digital-native and traditional borrowers, and structured yield sources combining tokenization with protocol incentives. Built on Superstate’s FundOS tokenization platform, CUSHY enables on-chain representation of fund shares and 24/7 trading, with support across multiple networks including Ethereum, Solana, and Base.
This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)
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