Morgan Stanley is preparing to offer cryptocurrency trading on its E*Trade platform, a move that could bring bitcoin and ether accessibility to millions of retail investors.

Solana validators patched a critical vulnerability in the network’s confidential transfer system last month, closing a loophole that could have allowed attackers to mint unlimited tokens or siphon user funds.

Arizona won’t be adding bitcoin to its financial reserves after Governor Katie Hobbs vetoed a bill that would have opened the door to state-managed crypto investments.

Top stories in the Crypto Roundup today:

• Morgan Stanley Plans Crypto Trading for E*Trade Customers
• Solana Fixes Zero-Day Bug That Could Have Allowed Unlimited Token Minting
• Arizona Governor Vetoes Bill to Invest Seized Funds in Bitcoin

Morgan Stanley Plans Crypto Trading for E*Trade Customers

Morgan Stanley is preparing to offer cryptocurrency trading on its E*Trade platform, a move that could bring bitcoin and ether accessibility to millions of retail investors.

The firm is reportedly exploring partnerships with established crypto players to support the launch, which is targeted for next year. 

Discussions about expanding into crypto gained traction within Morgan Stanley in late 2024, after Trump’s presidential win ushered in a wave of deregulation favoring digital assets.

E*Trade already allows customers to invest in crypto-related exchange-traded funds, but spot trading would offer direct exposure to tokens — a feature long championed by younger rivals like Robinhood and Coinbase.

Solana Fixes Zero-Day Bug That Could Have Allowed Unlimited Token Minting

Solana validators patched a critical vulnerability in the network’s confidential transfer system last month, closing a loophole that could have allowed attackers to mint unlimited tokens or siphon user funds.

The Solana Foundation, which oversees the blockchain’s development, privately coordinated the fix with validators after the bug was discovered on April 16. The vulnerability affected the ZK ElGamal Proof program — a core component enabling zero-knowledge confidential transfers under the Token-2022 standard.

Had it been exploited, the flaw could have allowed attackers to forge proofs and mint tokens at will or drain balances from user accounts. The patch was deployed within two days through a quietly organized network update, with no known exploits reported.

Despite the potential severity, confidential transfers have seen minimal adoption since launching in late 2023. S

The Foundation did not immediately disclose who discovered the vulnerability or whether a bug bounty will be issued. Solana co-founder Anatoly Yakovenko defended the behind-the-scenes coordination, comparing the validator mobilization to similar consensus thresholds seen on Ethereum.

“All funds are safe,” the Foundation said in a statement, noting there’s no evidence the bug was exploited.

Arizona Governor Vetoes Bill to Invest Seized Funds in Bitcoin

Arizona won’t be adding bitcoin to its financial reserves after Governor Katie Hobbs vetoed a bill that would have opened the door to state-managed crypto investments.

Senate Bill 1025, which passed the state House in a 31–25 vote, proposed using funds seized by law enforcement to invest in bitcoin and create a digital asset reserve managed by Arizona’s financial authorities. The initiative could have made Arizona the first U.S. state to treat bitcoin as part of its official treasury.

But Hobbs rejected the proposal Friday, calling the idea too speculative for public funds. 

“The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments. Arizonans' retirement funds are not the place for the state to try untested investments like virtual currencу,” Hobbs wrote in a statement.

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