Today in crypto, Arizona lawmakers passed two bills allowing the establishment of a state crypto reserve. The Senate Bill 1025 permits Arizona to adopt a reserve using Bitcoin or other cryptocurrencies, receiving 31 votes in favor. Additionally, Coinbase announced the launch of its Bitcoin Yield Fund for institutional investors on May 1, aiming for a net return of 4% to 8% on Bitcoin holdings, addressing demand for Bitcoin yield opportunities. The fund will utilize a cash-and-carry strategy to generate yield. Meanwhile, Bitget sent legal letters to users accused of manipulating the VOXEL token's perpetual futures contracts, alleging a $20 million profit from these activities. Their investigation revealed abnormal trading activities linked to this token, prompting legal action to reclaim affected funds. In other news, President Trump stated that federal income taxes might be significantly reduced or eliminated due to upcoming trade tariffs, benefiting those earning less than $200,000 annually.

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