The bill, known as the Guiding and Establishing National Innovation in US Act of 2025 (GENIUS Act), failed a procedural Senate vote on May 8 after several Democratic senators withdrew support. The pullback was linked to concerns over former President Donald Trump’s involvement in crypto, which complicated bipartisan backing. However, recent revisions removed references to Trump’s family, increasing the chances of approval by the end of May.
China-Linked DayDayCook Plans to Acquire 5,000 Bitcoin Over Three Years
DDC Enterprise, a consumer brand originating from Hong Kong and operating in mainland China, has announced plans to implement a Bitcoin reserve strategy. CEO Norma Chu disclosed the acquisition of 100 BTC for about $10.4 million, setting a goal to gather 5,000 within the next 36 months, with aspirations for 500 BTC by the close of 2025.
This development follows DDC’s reported 33% revenue growth in 2024, totaling 273.3 million Chinese yuan ($37.4 million), as stated in a filing made on May 15 with the US Securities and Exchange Commission (SEC). Although the company has made public announcements, its SEC filings do not yet clearly address Bitcoin holdings or the reserve strategy.
