In crypto news today, a new bill introduced in the US Congress aims to ban public officials from profiting off digital assets. California Senator Adam Schiff and nine other Democratic lawmakers have put forth the COIN Act, targeting perceived financial exploitation of cryptocurrencies by public officials, particularly in response to President Trump’s connections to the cryptocurrency industry. Meanwhile, despite market volatility due to tensions in the Middle East, global crypto funds saw a significant inflow of over $1 billion last week into crypto products, with CoinShares reporting $1.24 billion in inflows for crypto exchange-traded products (ETPs). Bitcoin ETPs alone contributed $1.1 billion, despite BTC prices declining from $108,800 to roughly $103,000. In parallel, Michael Saylor of MicroStrategy hinted at potential further Bitcoin purchases, although his company faces a lawsuit regarding its substantial Q1 loss of $5.9 billion in Bitcoin holdings. Notably, Ether ETPs reported their ninth consecutive week of inflows, totaling $124 million last week, reflecting robust investor sentiment toward the asset.

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