India discussing US trade deal structured in three tranches, interim agreement before July

<p>India is discussing a US trade deal structured in three tranches</p><ul><li>Expects to reach an interim agreement before July</li></ul><p>Info comes via Bloomberg</p><p>No further details as yet </p> This article was written by Eamonn Sheridan at www.forexlive.com.

StraitsX Launches Its Singapore-Dollar Pegged Stablecoin, XSGD, on XRP Ledger

Bitcoin fractal analysis forecasts new all-time highs above $110K by end of week

Key takeaways: Bitcoin onchain and technical data suggest new all-time highs are imminent.Glassnode data shows most Bitcoin wallet cohorts accumulating BTC. A daily timeframe bearish divergence signals fading momentum, raising doubt on BTC’s ability to rally into the $120,000 to $130,000 range.Bitcoin (BTC) price rallied back above $105,000 during the US market trading session, after forming a double bottom pattern in the 1-hour chart. Bitcoin 1-hour chart. Source: Cointelegraph/TradingViewAvailable liquidity around the $102,500 zone was swept, possibly laying the foundation for new Bitcoin price highs this week.Bitcoin fractals hint at new all-time highsBitcoin’s current range between $106,300 and $100,600 represents a similar setup to its previous range between $97,900 and $92,700. The price action pattern can be summarized into three different conditions: Range lows and range highs led to immediate trend reversal. A double bottom occurred after range highs ($97,900 and $107,144) were formed. The double bottom formation occurred above range lows, sweeping internal liquidity levels, but the bottom.Bitcoin price fractal analysis. Source: Cointelegraph/TradingViewBitcoin could consolidate between $103,500 and $105,200 (orange boxes) over the next 24 hours, mirroring its earlier sideways movement between $95,800 and $97,300. If this pattern holds, it could increase the chances of Bitcoin breaking above $107,000, potentially reaching new highs above $110,000 this week.Conversely, a failure to hold $103,500 could lead to a retest of the $102,000 support. This would be treated as an invalidation of the price fractal, which could open the possibility of new lows under $102,000 in the coming days. Related: Bitcoin ignores Moody’s US debt downgrade, rallies back to $105K after profit-taking sell-offWill Bitcoin overcome a daily bearish divergence?Glassnode revealed a significant shift in Bitcoin investor behavior, with the latest Accumulation Trend Score chart showing small holders with less than 1 BTC joining the bullish trend at a score of 0.55. Larger cohorts holding 100–1,000 BTC and 1,000–10,000 BTC exhibited strong accumulation scores of 0.9 and 0.85, respectively. Bitcoin accumulation trend score. Source: GlassnodeOnly the 1–10 BTC cohort remains in distribution. The heatmap, transitioning from blue (distribution) to red (accumulation), suggests growing market confidence. Historically, such trends have preceded BTC price rallies. However, crypto analyst Bluntz noted a bearish divergence on the daily chart, which could dampen BTC’s hopes for a new all-time high this week. A bearish divergence takes place when the price is forming a higher high, but the relative strength index (RSI) indicator is forming a higher low, meaning that buying pressure is beginning to fade as prices soar. Bitcoin bearish divergence by Bluntz Capital. Source: X.comSimilarly, Bitcoin analyst Matthew Hyland pointed out that if the bulls want to remain in control, they need to push prices higher in the coming weeks. Hyland said,“BTC is now on the clock and probably needs to make a move to $120k-$130k in the coming weeks to make a higher high on the RSI and avoid any weekly bearish divergence from being confirmed.”Related: Bitcoin bull market 'almost over?' Traders split over BTC price at $105KThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

DOJ is investigating Coinbase data breach— Report

The US Department of Justice is reportedly conducting a probe over Coinbase’s contracted customer service agents in India, who accepted bribes in exchange for allowing criminals access to user data.According to a May 19 Bloomberg report, DOJ investigators are looking into the data breach, which Coinbase disclosed to the public on May 15. The exchange reported that a group of customer support contractors — subsequently fired — “abused their access to [...] systems to steal the account data for a small subset of customers.”“We have notified and are working with the DOJ and other US and international law enforcement agencies and welcome law enforcement’s pursuit of criminal charges against these bad actors,” said Coinbase’s chief legal officer, Paul Grewal, according to Bloomberg.Related: New Zealand man arrested in $265M crypto scam tied to FBI probeThough “no passwords, private keys, or funds were exposed” according to Coinbase, the data breach resulted in social engineering attacks targeting users, including a Sequoia Capital partner, with losses estimated at up to $400 million. The attackers also attempted to extort $20 million from Coinbase in exchange for not disclosing the breach, which the company refused.Backlash in the courtsThe attempted social engineering attacks have resulted in Coinbase users filing several lawsuits against the exchange, alleging that the company mishandled their personal data. One user, a retired artist named Ed Suman, reported losing $2 million to the scammers.Coinbase’s stock price fluctuated following the news of the breach and an unrelated probe from the US Securities and Exchange Commission over its reported “verified user” numbers. Cointelegraph reached out to Coinbase for comment but had not received a response at the time of publication.Magazine: Father-son team lists Africa’s XRP Healthcare on Canadian stock exchange

What to expect at Trump’s memecoin dinner

On May 22, US President Donald Trump is expected to host up to 220 people who had purchased the most significant quantities of his memecoin at a private event in Washington, DC.Though the exact number of attendees was unknown as of May 19, reports and blockchain data have revealed some of the tokenholders who qualified to apply for the May 22 dinner and “VIP tour” and reception, presumed to be in the White House. Bloomberg reported on May 7 that more than half of the 220 wallets were likely controlled by foreign nationals.Among the memecoin dinner applicants, who likely still face background checks ahead of getting a confirmed appearance before the president, included Synthetix founder Kain Warwick, a consultant named Vincent Deriu, and crypto user Morten Christensen, who reportedly only paid $1,200 for the opportunity. Others included a World Liberty Financial adviser going by the pseudonym “Ogle,” and a representative from the Singapore-based startup MemeCore. Cointelegraph has also learned that Vincent Liu, chief investment officer of the Taiwan-based company Kronos Research, plans to attend.Trump’s memecoin, even before the announced dinner and reception, was criticized by many members of Congress. Some lawmakers said the president was opening the White House up to potential bribes and conflicts of interest by allowing people, perhaps tied to foreign governments, to put money directly into his pockets without transparency.Interfering with stablecoin, market structure billsThe controversy has spilled over into proposed legislation connected to digital assets, including a bill in the Senate aimed at establishing a regulatory framework for stablecoins and a draft market structure bill in the House of Representatives. Some Democrats said they would not support any legislation until “Trump’s crypto corruption” was addressed.May 14 BlueSky post on Trump memecoin. Source: Elizabeth Warren“Democrats are thinking that this is just an official means by which to conduct corruption,” said Rebecca Liao, co-founder and CEO of layer-1 blockchain Saga, in a statement shared with Cointelegraph. “What began as a bipartisan bill with potential widespread support has now transformed into a proxy war between the Democrats and the Trump administration.”Related: Trump’s crypto ties ‘add a certain level of challenge’ to passing bills — Coinbase execSome organizations have planned protests during the memecoin dinner on May 22. The Democratic Party’s arm in Arlington, Virginia, announced its members would gather to oppose those in the White House “cashing in on their public office.” Cointelegraph reached out to the organization for comment but had not received a response at the time of publication.Buying influence, or just speculating on an emerging market?The top 220 tokenholders reportedly spent a combined $148 million to have the opportunity to attend the event, which finalized its leaderboard on May 12. However, anyone with a wallet can still buy TRUMP tokens and potentially influence the president’s policies after the dinner is completed. “The decision to acquire the [TRUMP] token was not political,” Vincent Liu of Kronos Research, who plans on attending the memecoin dinner, told Cointelegraph. “It was based on identifying early momentum, cultural relevance, and potential market catalysts.”In April, Freight Technologies said it would invest $20 million in the TRUMP token, suggesting that it could affect the president’s trade policies between the US and Mexico, where the firm conducts some of its business. GD Culture Group announced in May that the memecoin would be included in its plans for a $300-million crypto reserve.“The issue is the conflict of interest between the Trump family’s crypto investments and the administration’s pivot toward crypto-friendly policies,” said Liao. “The Trump family has very openly invested in crypto and has started their own crypto ventures. This has created a perception problem where policy shifts favoring cryptocurrency could be viewed as self-enrichment rather than in the national interest.”If the stablecoin bill, the GENIUS Act, is the first test for how Republicans and Democrats will respond to Trump’s potential conflicts of interest in the crypto industry, there is already a stark contrast between the two parties. ​​House Speaker Mike Johnson largely brushed off concerns about the president and his family’s connections to the industry, saying he was “not an expert in that.” White House deputy press secretary Anna Kelly reportedly said there were “no conflicts of interest” because Trump’s children managed his assets through a trust.Lawmakers are expected to take up a vote on the GENIUS Act in a matter of days, possibly before the memecoin dinner and reception are held. At the time of publication, it was unclear whether Republicans intended to address some of the Democrats’ concerns around Trump and crypto, or move forward with a vote with no significant changes to the bill.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

Circle plans IPO but talks with Ripple, Coinbase could lead to sale: Report

Circle, the issuer of stablecoin USDC (USDC), is still planning an initial public offering (IPO), but the company is also in informal talks with Ripple and Coinbase about a sale, according to a report from Fortune.Circle is seeking at least $5 billion, which is its target for the IPO, according to the four banking and private equity sources Fortune cited. Ripple tried to purchase Circle on April 30, but the $4 billion to $5 billion bid was rejected as being too low.If Ripple or Coinbase were to buy Circle, the details of a purchase would differ. Ripple would pay using cash and XRP (XRP), a cryptocurrency that Ripple created. Coinbase, on the other hand, would use cash and stock.Coinbase and Circle have a relationship dating to 2018, when they launched the Centre Consortium. That venture was meant to establish standards for fiat-backed stablecoins, including USDC. Coinbase also has an agreement with Circle to put USDC onto its exchange.Circle filed for an IPO on April 1 with a goal to complete the process by the end of that month. The company backpedaled slightly on April 4, indicating it might delay its IPO due to economic uncertainty.Related: New bull cycle? Bitcoin's return to $100K hints at ‘significant price move’Market conditions for IPOs improve as tariffs waneIn December 2024, Bitwise predicted that 2025 would be the year of the crypto IPO, and that prediction is starting to bear fruit. Aside from Circle, crypto exchanges Gemini and Kraken are mulling IPOs in 2025 or early 2026 as US President Donald Trump has pushed for a more favorable regulatory environment for crypto in the United States.Those plans were put on hold after the Trump administration enacted wide-ranging tariffs that caused market turmoil. With the tariffs now suspended or reduced, markets have rebounded.On May 12, Cointelegraph reported that Bitcoin (BTC) was 4.8% away from reaching its all-time high of $109,800. Ether (ETH), XRP, and Solana (SOL) have also seen big gains in the past month. The stock market has rebounded as well, with the S&P 500 jumping 15.6% in the past month according to Google Finance.At least one company has benefited from completing its IPO during this period of renewed enthusiasm: eToro, an Israel-based trading company. After an IPO on May 14, its stock price jumped 29%.Magazine: .X Hall of Flame: Bitcoin will ‘start ripping’ as Trump’s polls improve — Felix Hartmann

Senate Dems Gear Up Resistance as Stablecoin Bill Meets Test Most Think Will Succeed

Bitcoin futures data aligns with BTC traders’ hope for new all-time highs

Key takeaways:Bitcoin buying in the spot and futures markets helped BTC price keep its upward momentum despite $170 million in margin liquidations.Weak stablecoin demand in China and the limited use of futures leverage suggest Bitcoin’s current rally is sustainable.Bitcoin (BTC) price has displayed strength at the $102,000 support level on May 19, following the $170 million in liquidations of leveraged positions. The abrupt $5,000 correction after hitting $107,090 may have been unexpected, but it does not mean the odds of reaching an all-time high in the near term are lower, especially since Bitcoin derivatives metrics have shown resilience.Bitcoin 1-month futures annualized premium. Source: laevitas.chThe annualized one-month futures premium for Bitcoin remained close to 6% despite the retest of $102,000 support. This current level is within the 5% to 10% neutral range, which has been the norm over the past week. While at first glance such data might suggest a lack of optimism, at the same time, it proves that the buying pressure is coming from the spot market rather than from leveraged bets.Japan bond spike and credit fears weigh on Bitcoin sentimentSome analysts attribute Bitcoin’s correction to comments by Japan’s Prime Minister Shigeru Ishiba on the country’s fiscal situation being “undoubtedly extremely poor,” as reported by Bloomberg. Japan 15-year government bond yield. Source: TradingView / CointelegraphYields on Japan’s long-term government bonds soared to their highest level ever on May 19 as traders demanded higher returns, signaling a lack of trust. Japan is the largest holder of US Treasury bonds, so investors are concerned about contagion risks at a delicate moment for the global economy, especially as the ongoing trade war has severely limited growth prospects.The fact that Moody’s rating agency cut the US government’s long-term credit rating to AA1 from AAA has also played a significant role in limiting Bitcoin’s upside, particularly as its correlation with the S&P 500 index has stayed above 80% since early May. Investor sentiment could quickly deteriorate as the impact of tariffs becomes partially visible in second-quarter corporate earnings.To understand if Bitcoin has what it takes to reach an all-time high in the near term, one should analyze the demand for stablecoins in China. Periods of excessive optimism usually lead to stablecoins trading above fair value, which is not a healthy indicator, as Bitcoin jumps above $105,000.USDT Tether (USDT/CNY) vs. US dollar/CNY. Source: OKXUSD Tether (USDT) has been trading at a slight 0.4% discount in China, meaning Bitcoin’s price increase has likely not been driven by FOMO. The absence of excessive leverage on Bitcoin futures and the lack of desperate inflows into Chinese markets are key ingredients for sustainable price gains, paving the way for a more solid bullish momentum above $105,000.Bitcoin shrugs off bad news, holds support amid strong spot demandBitcoin’s price displayed significant resilience after the announcement of a class-action lawsuit against Strategy’s top executives, claiming “false and/or misleading statements” regarding risks associated with Bitcoin’s investment. The complaint specifically mentions unrealized losses, although those events do not affect the company’s cash flow.Regardless of whether the case has foundation, negative headlines tend to have a much stronger and longer price impact in neutral to bearish markets, which clearly was not the case as Strategy (MSTR) shares traded up 2.4% on May 19. Additionally, the fact that the $102,000 support held amid increased global economic uncertainty, combined with strong spot buying and resilient derivatives metrics, provides every indication that Bitcoin is well-positioned for further price gains.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Quantum Biopharma bolsters Bitcoin treasury

Quantum Biopharma has purchased an additional $1 million worth of Bitcoin and other cryptocurrencies, the Canadian biotechnology company said. The buys take Quantum’s total cryptocurrency holdings to approximately $4.5 million, according to a May 19 press release. The biotech company plans to stake a portion of its crypto to generate revenue. Quantum expects that holding a treasury of Bitcoin (BTC) and other crypto assets will “provide a return on investment for shareholders and […] provide some hedge against the Canadian dollar,” it said. Shares of Quantum’s stock, QNTM, rose by approximately 25% following the announcement, according to data from Google Finance. Quantum Biopharma’s stock rose on the announcement. Source: Google FinanceRelated: Basel Medical shares down 15% on $1B Bitcoin buying plansPopular treasury strategyQuantum is one of several healthcare companies accumulating Bitcoin as corporate crypto treasuries become increasingly popular. In March, NASDAQ-listed biopharmaceutical company Atai Life Sciences tipped plans to buy $5 million worth of Bitcoin. In a March 20 X post, Atai’s founder, Christian Angermayer, said “Bitcoin should be a part of ANY corporate treasury – especially, in fact, in the biotech sector.”Angermayer added in a blog post that Bitcoin can help the biotech hedge against inflation and stay solvent during the long periods before drug approvals. Corporate treasuries are now major Bitcoin holders. Source: Bitcointreasuries.netOn May 16, Singapore-based healthcare company Basel Medical Group announced plans to buy $1 billion worth of Bitcoin. It said a Bitcoin treasury will support its plans to expand in Asia through acquisitions by giving Basel “one of the strongest balance sheets among Asia-focused healthcare providers.”Unlike Quantum, however, Basel’s shares dropped significantly on the day of the announcement.Collectively, corporate treasuries hold more than $83 billion in Bitcoin as of May 19, according to data from BitcoinTreasuries.NET. Publicly traded companies are now the largest institutional Bitcoin holders after exchange-traded funds (ETFs), the data shows. Bitcoin can “potentially be a valuable hedge against growing fiscal deficits, currency debasement, and geopolitical risks” for companies, asset manager Fidelity Digital Assets said in a 2024 report.Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

Paul Atkins: &#039;Crypto markets have been languishing in SEC limbo&#039;

In one of his first speeches since becoming chair of the US Securities and Exchange Commission (SEC) in April, Paul Atkins addressed some of the regulatory concerns around the cryptocurrency industry.In prepared remarks for a May 19 speech, Atkins said it was a “new day” for the crypto industry under the current leadership of the SEC. He suggested that the financial regulator would be more open to “adapt to and accommodate new developments” while still abiding by its statutes.“The crypto markets have been languishing in SEC limbo for years,” said Atkins, adding:“While I have directed Commission staff across our policy Divisions to begin drafting rule proposals related to crypto, the staff continue to ‘clear the brush’ through staff-level statements.”Even before Atkins stepped into the role of SEC chair, the commission’s actions under Donald Trump suggested that it would radically depart from the direction of former chair Gary Gensler. In 2025, the SEC has dropped several investigations and enforcement actions against crypto companies and issued guidance on memecoins and security tokens.Related: CFTC commissioner to leave agency on May 31“As I begin my tenure as Chairman, I can tell you that we are getting back to our roots of promoting, rather than stifling, innovation,” said Atkins. “The markets innovate, and the SEC should not be in the business of telling them to stand still.”Looking to Congress for market structureAtkins’ remarks came as US lawmakers considered draft legislation to establish a regulatory structure for crypto markets. The proposed bill, moving through the House of Representatives, could clarify the roles the SEC and Commodity Futures Trading Commission (CFTC) have in overseeing and regulating digital assets.Until the legislation passes Congress and is signed into law, the SEC’s rules and guidelines over crypto could face pushback from affected parties.The SEC chair has given opening remarks and overseen the commission’s roundtable events, discussing regulatory issues surrounding digital assets and blockchain. The next event, scheduled for June 9, will cover decentralized finance.Magazine: SEC’s U-turn on crypto leaves key questions unanswered

Bitcoin Climbs to $105K; Crypto ETF Issuer Sees 35% Upside

Crypto.com and Canary Capital to launch US CRO fund

Crypto.com and asset manager Canary Capital are launching a US investment fund designed to provide exposure to the Cronos blockchain’s native token, CRO, the cryptocurrency exchange said in a statement.The Canary CRO Trust will hold the Cronos (CRO) token in a regulated fund wrapper, Crypto.com said, adding that the trust is not an exchange-traded fund (ETF) and is only available to accredited investors. Creating regulated funds such as CRO Trust is part of Crypto.com’s plan for “further mainstreaming crypto,” Eric Anziani, president and chief operating officer of Crypto.com, said in a statement.In March, the crypto exchange partnered with Trump Media & Technology Group, a company affiliated with US President Donald Trump, to launch a series of Trump-branded ETFs, including one holding CRO.The Trump Media ETFs are still awaiting approval from the US Securities and Exchange Commission (SEC), which has not yet authorized any CRO ETFs for US trading, Crypto.com said. Cronos has a total value locked of nearly $440 million. Source: DefiLlamaRelated: 21Shares launches ETP for Crypto.com's Cronos tokenCronos ecosystemCronos is a layer-1 blockchain network affiliated with Crypto.com. The chain is designed to integrate with the Ethereum and Cosmos ecosystems and support decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and other Web3 applications. The chain has a total value locked (TVL) of nearly $440 million, according to data from DefiLlama. Its most popular application is VVS Finance, a DeFi platform for token swaps and yield farming.The CRO token has a market capitalization of roughly $880 million as of May 19, according to Cointelegraph’s market data. Altcoin ETF filingsSince Trump took office in January, he has signaled a more crypto-friendly approach to regulation, prompting asset managers to seek to list roughly 70 new crypto ETFs.In May, asset manager VanEck filed to list an ETF tied to another exchange-affiliated token, BNB Chain’s native BNB. The chain is affiliated with Binance, the world’s largest centralized exchange.The same month, 21Shares launched an exchange-traded product (ETP) in Europe offering exposure to Crypto.com’s CRO token. Magazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review

Price predictions 5/19: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI

Key points:Bitcoin’s rejection at $107,000 shows sellers are active at higher levels, but the recovery from the intraday low shows solid buying.Strategy and Metaplanet continue to accumulate Bitcoin, adding steady buy-side pressure to BTC price. Select altcoins have pulled back, but they have not yet turned negative.Bitcoin’s (BTC) attempt to challenge the all-time high faced a strong rejection near $107,100 on May 19, signaling that the bears are unlikely to give up without a fight. However, the long tail on the candlestick shows solid buying at lower levels.The short-term uncertainty has not deterred the long-term buyers from accumulating more Bitcoin. Strategy, formerly MicroStrategy, announced the purchase of 7,390 Bitcoin for an average price of about $103,500, taking its total holding to 576,230 Bitcoin.  Similarly, Japanese investment firm Metaplanet said on May 19 that it acquired 1,004 Bitcoin, boosting its total to 7,800 Bitcoin. Crypto market data daily view. Source: Coin360Although Bitcoin’s trend remains bullish, repeated failure to break above the overhead resistance may tempt short-term traders to book profits. That increases the risk of a break below the psychological level of $100,000.What are the crucial support and resistance levels to watch out for in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.S&P 500 Index price predictionThe S&P 500 Index (SPX) extended its up move last week, indicating continued buying by the bulls.SPX daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day exponential moving average (5,712) and the relative strength index (RSI) near the overbought zone signal an advantage to buyers, but the up move is expected to face significant resistance in the 6,000 to 6,147 zone. If the price turns down from the overhead zone, the index could find support at 5,800 and then at the 20-day EMA. If the price rebounds off the 20-day EMA, the bulls will again try to drive the index to the all-time high. Sellers will have to tug the price below the 20-day EMA to break the bullish momentum. US Dollar Index price predictionThe relief rally in the US Dollar Index (DXY) hit a wall at the 50-day simple moving average (101.67) on May 12, indicating that the bears are selling on rallies.DXY daily chart. Source: Cointelegraph/TradingViewThe index is likely to find support at the 100.27 level. If the price rebounds off 100.27, the bulls will again try to kick the index above the 50-day SMA. If they manage to do that, the index could pick up momentum and surge toward 103.54. Such a move signals that the corrective phase may be over.Sellers will retain the advantage if the price closes below the 100.27 support. That opens the doors for a retest of the 99 level.Bitcoin price predictionBitcoin broke above the overhead resistance at $105,820 on May 18, but the bulls could not sustain the momentum.BTC/USDT daily chart. Source: Cointelegraph/TradingViewSellers are expected to fiercely defend the zone between $107,000 and $109,588. The 20-day EMA ($100,787) is the crucial support to watch out for on the downside. A rebound off the 20-day EMA suggests the positive sentiment remains intact. The bulls will again try to clear the overhead zone. If they succeed, the BTC/USDT pair could skyrocket toward $130,000.This positive view will be invalidated in the near term if the price continues to fall and breaks below the psychologically crucial $100,000 support. The pair could then plummet to the 50-day SMA ($91,916).Ether price predictionEther’s (ETH) bounce off the 20-day EMA ($2,288) on May 18 fizzled out near $2,600, signaling that the bears have kept up the pressure.ETH/USDT daily chart. Source: Cointelegraph/TradingViewSellers tried to pull the price below the 20-day EMA, but the long tail on the candlestick shows solid buying at lower levels. The bulls will try to kick the price above the $2,738 resistance, opening the gates for a rally to $3,000. There is minor resistance at $2,850, but it is likely to be crossed.Contrarily, a break and close below the 20-day EMA tilts the advantage in favor of the bears. The ETH/USDT pair could then slump to $2,111.XRP price predictionXRP (XRP) remains stuck inside the $2.65 to $2 range, indicating buying near the support and selling close to the resistance.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe XRP/USDT pair bounced off the 20-day EMA ($2.34) on May 17, but the bulls are facing selling at higher levels. If the price sustains below the 20-day EMA, the pair could stay inside the range for some more time. The price action inside the range is expected to be random and volatile.The next trending move is likely to begin on a break above $2.65 or below $2. If buyers pierce the $2.65 resistance, the pair could travel to $3.BNB price predictionBNB (BNB) bounced off the 20-day EMA ($635) on May 18, but the higher levels attracted selling by the bears.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe gradually upsloping 20-day EMA and the RSI in the positive territory indicate a slight edge to the bulls. If the price rises and maintains above $644, the bulls will again try to drive the BNB/USDT pair above $680. If they succeed, the pair may start its northward march toward the overhead resistance of $745.Contrary to this assumption, a break and close below the 20-day EMA clears the path for a decline to the 50-day SMA ($606) and later to $580.Solana price predictionSolana (SOL) turned up from the 20-day EMA ($163) on May 17, but the bulls could not push the price above the $180 resistance.SOL/USDT daily chart. Source: Cointelegraph/TradingViewSellers are trying to pull and retain the price below the 20-day EMA. If they manage to do that, the SOL/USDT pair could tumble to $153 and, after that, to the 50-day SMA ($143). That points to a possible range-bound action between $180 and $120 in the near term.The bulls will have to propel the price above the $185 level to regain control. The pair could then pick up momentum and rally to $210 and subsequently to $220. Related: XRP price risks falling to $2 after classic bearish chart pattern confirmsDogecoin price predictionBuyers successfully defended the breakout level of $0.21 on May 17 but are struggling to sustain the bounce in Dogecoin (DOGE).DOGE/USDT daily chart. Source: Cointelegraph/TradingViewSellers will try to make a comeback by pulling the price below $0.21. If they do that, the DOGE/USDT pair could slide to the 50-day SMA ($0.18). That signals a possible range formation between $0.26 and $0.14.Buyers will have to thrust the price above the $0.26 resistance to signal the resumption of the recovery. There is minor resistance at $0.30, but it is likely to be crossed. The pair may then ascend to $0.35.Cardano price predictionCardano (ADA) has broken below the neckline of the inverted head-and-shoulders pattern, indicating that the bulls are losing their grip.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe next support is at the 50-day SMA ($0.68). If the price turns up from the 50-day SMA, the bulls will try to push the ADA/USDT pair above the neckline. If they can pull it off, the pair could retest the $0.86 level. A break and close above the $0.86 resistance clears the path for a rally to $1.01.Conversely, a break and close below the 50-day SMA suggests the markets have rejected the breakout above the neckline. That increases the risk of a drop to $0.58.Sui price predictionSui’s (SUI) bounce off the 20-day EMA ($3.67) turned down from the $3.90 to $4.25 zone, indicating that the bears are active at higher levels.SUI/USDT daily chart. Source: Cointelegraph/TradingViewThe pullback could deepen if the price breaks and sustains below the 20-day EMA. If that happens, the SUI/USDT pair could skid to $3.12 and then to the 50-day SMA ($2.97).On the contrary, if the price snaps back from the 20-day EMA and rises above $3.90, it suggests a positive sentiment. That enhances the prospects of a break above the $4.25 level. The pair could then surge to $5. Sellers are expected to fiercely defend the zone between $5 and the all-time high of $5.37.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

‘Before Bitcoin, my most successful investment was shorting the Bolivar’ — Ledn co-founder

Before discovering Bitcoin (BTC), Ledn co-founder Mauricio di Bartolomeo found success shorting the Venezuelan Bolivar as it rapidly lost value against the stronger US dollar. Now, with the US dollar depreciating against Bitcoin, borrowing against Bitcoin instead of selling it has become a more viable strategy.“Prior to Bitcoin, my most successful investment was shorting the Bolivar with dollars,” di Bartolomeo told Cointelegraph in an exclusive interview at the Consensus conference in Toronto, Canada. “I was borrowing Bolivars and buying dollars with them, holding the hard dollars and having a borrow [position] on the weaker currency,” he said.The arrival of Bitcoin-backed loans means investors can now effectively implement the same strategy by using a harder currency as collateral. Ledn co-founder Mauricio di Bartolomeo, right, and Cointelegraph’s Sam Bourgi at Consensus. Source: CointelegraphThis was part of the motivation behind launching Ledn, a Cayman Islands-based company that gives Bitcoin holders the ability to access dollar liquidity without having to sell their BTC. By borrowing against Bitcoin, “you’re basically doing the same thing, but you are in effect holding the hard money, which is Bitcoin, and taking a borrow [position] on dollars, which is a weaker currency,” said di Bartolomeo, adding:“This creates a bit of a virtuous cycle that we see happen time and again with real estate, with borrowing against your stock, borrowing against your gold, and so Bitcoin is no different.”Related: Bitcoin miners should pay costs in depreciating currency — Ledn execCrypto lending market on the riseLedn operates in a much broader crypto lending industry that has grown over the past five years due to the rapid appreciation of Bitcoin, the arrival of institutional investors and the growing utility of stablecoins.By the fourth quarter of 2024, the crypto lending market was valued at $30.2 billion, a more than threefold increase compared to two years earlier, according to Galaxy Research. However, the size of the overall industry remains below the 2021 peak. The researchers attributed the recent rise to decentralized finance applications, which allow users to borrow against assets onchain. This trend was further corroborated by a recent Cointelegraph report, which documented the growing monetary value secured by DeFi lending protocols. The crypto lending market has rebounded sharply from its 2022 lows but remains well below the peak from 2021. Source: Galaxy ResearchLedn was ranked among the top three centralized finance (CeFi) lenders, with a loan book valued at $9.9 billion at the end of 2024. Together, the top three CeFi lenders — Ledn, Tether and Galaxy — account for 89% of the total market, the Galaxy report showed. Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

Ripple launches cross-border blockchain payments in UAE

Ripple, the creator of cryptocurrency XRP (XRP), launched cross-border blockchain payments in the United Arab Emirates (UAE), a development that could spur the adoption of cryptocurrency in a country receptive to digital assets.Zand Bank, the UAE’s first all-digital bank, and Mamo, a fintech company that offers a digital payment platform for businesses, will be the principal users of the blockchain payments system, according to a May 19 Ripple announcement.Zand Bank and Mamo will use “Ripple Payments” to facilitate cross-border blockchain payments. Ripple Payments is a platform that combines stablecoins, cryptocurrency, and fiat to enable payments and quick settlement times, a feature of Web3 that cross-border traditional finance payment systems often lack. Ripple was licensed to offer crypto payments by the Dubai Financial Services Authority (DFSA) in March.Reece Merrick, Ripple’s managing director for the Middle East and Africa, said acquiring this license “enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments, such as high fees, long settlement times, and lack of transparency, in one of the world’s largest cross-border payments hubs.”Related: Ripple, Chipper Cash partner for faster and cheaper African remittancesUAE ranked 56 out of 151 countries for crypto adoptionChainalysis, a blockchain data platform, ranked the United Arab Emirates 56th out of 151 countries for crypto adoption, according to a 2024 report. The country scored high in decentralized finance, stablecoin use, and altcoins.The UAE has made some changes that may further increase its ranking. Various emirates, including Abu Dhabi and Dubai, have attempted to establish themselves as crypto hubs.In December 2024, Tether’s USDt (USDT) became an accepted virtual asset in Abu Dhabi. In 2025, Circle’s USDC (USDC) and EURC became the first stablecoins recognized under the emirate’s crypto token regime. The country is also continuing plans to establish a digital dirham, which would be a central bank digital currency.On May 19, Dubai’s Virtual Assets Regulatory Authority (VARA) announced more oversight for crypto asset activities, specifically margin trading and token distribution. There will be a 30-day transition period, and affected companies will be expected to comply with the new rules by June 19. Magazine: Fake Rabby Wallet scam linked to Dubai crypto CEO and many more victims

JPMorgan To Allow Clients To Buy Bitcoin, Says Jamie Dimon

Bitcoin ignores Moody’s US debt downgrade, rallies back to $105K after profit-taking sell-off

Key takeaways:Bitcoin recovered from its sharp sell-off from $107,000, suggesting it functions as a hedge against uncertainty for investors reacting to Moody’s recent downgrade of US debt.Moody’s downgraded the US credit rating to Aa1, citing a $36 trillion debt and rising deficits, causing market turbulence and a spike in US Treasury yields.Despite short-term pressure from macroeconomic shifts, Bitcoin’s long-term outlook remains bullish due to cautious shorting and a weakening US dollar.Bitcoin (BTC) price faced a sharp 4% correction during the Asian trading session on May 19, tumbling from an “important level” as noted by Glassnode. The data analytics platform indicated that Bitcoin’s surge stalled just below $106,600, a critical level where 31,000 BTC are held. This supply cluster, formed on Dec. 16, 2024, reflects firm holder conviction, as investors have neither sold nor averaged down despite price fluctuations.Bitcoin price cost basis chart. Source: GlassnodeThe BTC price drop occurred after macroeconomic headwinds intensified, with a historic downgrade of the US credit rating by Moody’s and a rise in US Treasury yields, raising speculation around risk assets such as Bitcoin’s near-term trajectory.Moody’s US credit downgrade spooks marketsAfter the US markets closed on May 16, Moody’s Investors Service downgraded the US credit rating from Aaa to Aa1, marking the first downgrade in modern history. Moody's cited concerns over the US's ballooning $36 trillion debt pile, with federal deficits projected to reach 9% of GDP by 2035, up from 6.4% in 2024. Interest payments on US debt are expected to consume 30% of federal revenue by 2035, a significant rise from 18%. Following similar actions by S&P in 2011 and Fitch in 2023, this downgrade underscores the unsustainable fiscal path of the US, rattling investor confidence and contributing to market turbulence.US 30Y treasury yields reached its highest level since Oct 2023. Source: Cointelegraph/TradingViewThe downgrade also coincided with a surge in US Treasury yields, further impacting markets. The 10-year Treasury yield opened at 5.53% post-downgrade on May 19, while the 30-year yield followed a similar upward trend, currently at 4.98%, reflecting investor concerns over higher borrowing costs for the US government. The Kobeissi newsletter highlighted that historically, past downgrades led to mixed yield reactions—yields fell 35% after the 2011 S&P downgrade but rose 23% after Fitch's 2023 downgrade. This time, the yield spike mirrors the 2023 pattern, signaling fears of inflation and fiscal strain, which likely contributed to Bitcoin's price correction as investors sought safer assets.Related: Bitcoin bulls should 'be careful with longs' as BTC price risks $100K breakdownWill short-term pain shift to long-term gain for Bitcoin?Bitcoin's price dump on May 19 reflects its sensitivity to macroeconomic shifts. Bitcoin could face continued pressure in the short term as investors pivot to safer assets amid rising uncertainty and borrowing costs.However, Bitcoin researcher Axel Adler Jr. on X highlighted a shift in market sentiment, noting that traders betting on price declines have been “significantly more cautious” in building short positions during this bull cycle compared to 2021. This suggests a generally bullish long-term outlook, as bears grow risk-averse. Bitcoin Advanced Short/Long signals. Source: X.comHistorically, Bitcoin has served as a safe haven during economic turmoil, such as the COVID-19 crisis, and could benefit long-term from eroding trust in fiat systems, especially with the US fiscal outlook deteriorating.The US Dollar Index (DXY) is signaling a potential decline below $100, reflecting a weakening dollar that has triggered a classic "risk-off" response. This shift has reignited interest in gold, which saw a modest 0.4% increase, though broader market reactions remain subdued. Typically, a weaker dollar bolsters risk assets like Bitcoin, as investors seek alternative stores of value. Adler Jr said,“Overall, despite the prevailing “risk-off” sentiment (typically a headwind for high-volatility assets), Bitcoin may find itself in a relatively stronger position in the current environment due to its “digital gold” narrative and the supportive effect of a weaker dollar.”Related: $107K fakeout or new all-time highs? 5 things to know in Bitcoin this weekThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin Is the Asset, Ethereum Is the Platform

XRP Futures Start Trading On CME

JuChain Global Ecosystem Summit Concludes Successfully in Bangkok: Service-Driven Web3 Vision Unveiled as Butterfly Protocol Launches

JuChain announces major ecosystem partners alongside the debut of Butterfly, its first flagship protocol. BANGKOK, Thailand, May 19, 2025 /PRNewswire/ — The JuChain Global Ecosystem Summit and Butterfly Protocol Launch concluded successfully in Bangkok yesterday, bringing together Web3 leaders, developers, and innovators from around the world. The summit showcased JuCoin‘s service-driven exchange ecosystem, introduced key ecosystem … Continue reading "JuChain Global Ecosystem Summit Concludes Successfully in Bangkok: Service-Driven Web3 Vision Unveiled as Butterfly Protocol Launches"

Bitcoin bull market &#039;almost over?&#039; Traders split over BTC price at $105K

Key points:BTC price action retargets $105,000 after the Wall Street open, rising 2.5% from the day’s lows.Volatility continues, leading market participants to varying conclusions over what will happen to BTC/USD next.Perspectives include the Bitcoin bull market being in its final stages.Bitcoin (BTC) sought a rebound from a 4% dive at the May 19 Wall Street open as traders diverged on bull market strength.BTC/USD 1-hour chart. Source: Cointelegraph/TradingView$106,000 becomes BTC price zone to watchData from Cointelegraph Markets Pro and TradingView showed BTC/USD passing $104,500, up 2.5% from the day’s low.The pair had seen flash volatility around the weekly close, which although the highest ever recorded swiftly saw bulls lose control.Now, opinions differed about when, or if, new all-time highs would come.“This is exactly what Bitcoin needs to be doing,” an optimistic Rekt Capital wrote in part of his latest X analysis.“Needs to hold ~$104400 as support to position itself for a successful post-breakout retest.”BTC/USD 1-week chart. Source: Rekt Capital/XPopular trader Daan Crypto Trades flagged $102,000 and $106,000 as the levels to watch above and below spot price.“These mark the local range low and high and price has been trading within these for most of the last 1-2 weeks,” he explained in part of his own X post. “Keep an eye out for a clean break below either of these. So far, price has not sustained above or below for more than a day.”BTC/USDT perpetual contract 4-hour chart. Source: Daan Crypto Trades/XThe area around $106,000 was also on the radar for onchain analytics firm Glassnode.“BTC's price surge stalled just below $106.6K - a level with 31K $BTC held at that cost basis,” it observed on the day. “This supply cluster originated on Dec 16 and remains unshaken. Holders haven’t redistributed, nor averaged down - making $106.6K an important level to watch in the short term.”BTC supply cost basis heatmap. Source: Glassnode/XTrader: “Too many bearish signs to ignore” on BitcoinA renewed warning meanwhile came from fellow trader Roman, who considered weekly timeframes to be no longer in bulls’ favor.Related: $107K fakeout or new all-time highs? 5 things to know in Bitcoin this week“Not a good close as we rejected resistance, created more bearish divergences, and have pumped with low volume. Stoch RSI has also topped,” he summarized. “Too many bearish signs to ignore, and it’s why I’ve been continuously saying the bull run is likely almost over.”BTC/USD 1-day chart with 1-week stoch RSI data. Source: Cointelegraph/TradingViewRoman referred to the stochastic relative strength index (RSI) indicator, a trend strength tool now firmly in “overbought” territory.As Cointelegraph reported, various short-term BTC price predictions have surfaced in recent days, including an “early week” target of $116,000 along with a potential retracement toward $90,000.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Dogecoin Finds Support After Sharp Drop as Bulls Regain Momentum

Binance's Former Russia Head, Blum Co-Founder Arrested in Connection to Fraud Case

Telegram-Associated Toncoin (TON) Plunges 8% as Critical $3.00 Support Crumbles

Who’s got the charm, cash and code to be a crypto hub?

Kazakhstan, the Maldives and Pakistan have recently outlined ambitions to position themselves as crypto hubs and build out their digital economies.Historically, these countries haven’t been top of mind for global crypto firms — though Kazakhstan did have a brief moment in the spotlight as a go-to destination for Bitcoin (BTC) miners after China’s mining ban.Meanwhile, established financial centers are now in a race to become the world’s leading crypto hub by finding the right balance of regulation, talent, capital and infrastructure.Here’s how five of them are backing their crypto dreams.Singapore is the crypto hub with parental guidanceSingapore has long stood out as a financial hub, bolstered by its AAA credit rating, low corporate tax rates and pro-business regulations. With the emergence of digital assets, the Lion City is among the front-runners in the crypto hub race.Singapore was among the early movers in crypto regulation. Its Payment Services Act (PSA) of 2019 — enacted in 2020 — was one of Asia’s first comprehensive legal frameworks that covered crypto activities. The PSA uses the term “digital payment token” (DPT) to define digital representation of value that can be transferred, stored or traded electronically — like crypto.At the time of writing, there are 33 DPT service providers licensed by the Monetary Authority of Singapore (MAS), the city-state’s central bank. Casper Johansen, co-founder of Singapore- and Hong Kong-based Spartan Group, said license approvals have moved at a measured pace, giving faster-moving hubs like Dubai room to catch up.“Singapore is more of an institutional financial hub than a retail financial hub,” Johansen said, alluding to the city-state’s limitations on crypto marketing to retail investors.Singapore’s retail crypto promotion ban includes social media influencer marketing and third-party websites. Source: Monetary Authority of Singapore“The ban on marketing to retail has not affected Singapore’s position as a global crypto hub. Crypto firms set up in Singapore for the low and transparent taxes, strong regulatory framework and rule of law, world-class professional services, ease of living and global connectivity,” Johansen added.But cracks have emerged recently, particularly around immigration and hiring policy. In late 2024, concerns flared when the CEO of blockchain analytics firm Nansen, Alex Svanevik, shared that he was denied permanent residency. The government has ramped up efforts to prioritize local hiring amid growing political sensitivity over foreign labor.Nansen CEO’s permanent residency rejection highlighted Singapore’s tight visa and immigration environment. Source: Alex SvanevikUAE rolls out the welcome mat for crypto hub statusUnlike other crypto hub contenders, Dubai has a dedicated digital asset regulator, the Virtual Assets Regulatory Authority (VARA). Its wide-ranging licensing regime provides clear guidelines — even for NFT platforms — which major economies like the European Union have yet to address. The EU’s Markets in Crypto-Assets (MiCA) framework currently excludes NFTs.VARA’s clarity is appealing to companies frustrated by regulatory uncertainty elsewhere. Binance, a borderless exchange with no official head office, has had to rethink that model under global regulatory pressure — and the exchange’s ties to the UAE have been growing.Richard Teng, former CEO of free zone Abu Dhabi Global Market, took over as the CEO of Binance after Zhao, and has recently hinted that UAE is a strong candidate for the exchange’s headquarters, though a decision hasn’t been made yet.Binance’s first institutional investment is a $2-billion bet from Abu Dhabi-based MGX. Source: BinanceThe UAE also provides its own incentives, such as no personal income tax and free zones like the Dubai Multi Commodities Centre (DMCC) and Dubai International Financial Centre (DIFC) offer 0% corporate tax advantages and 100% foreign ownership.Related: The lessons learned at Operation Chokepoint 2.0 Congressional hearingsCrypto firms have reported easier access to banking services in Dubai, which is an improvement over the challenges companies say they’ve faced in the US under “Operation Chokepoint 2.0.”Hong Kong makes crypto hub push with retail access and staking ETFsHong Kong has long acted as a financial gateway to mainland China, where crypto activities like mining and trading remain banned.Previously, the city had a voluntary licensing regime, when only OSL and HashKey were licensed to serve institutions and professional investors. In Hong Kong, professional investors are legally defined as those with portfolios worth at least 8 million Hong Kong dollars (about $1 million). It was later updated to the mandatory regime, launched in 2023, which opened the doors to retail. The shift to mandatory licensing marked a turning point. OSL and HashKey became the first exchanges authorized to serve retail investors, while firms like Bybit and OKX withdrew their applications and exited the market. As of now, 10 platforms are licensed, while 15 have either withdrawn or been rejected.Eight applicants in Hong Kong still wait the SFC’s decision. Source: Securities and Futures CommissionHong Kong has made further strides with the listing of Bitcoin and Ether (ETH) ETFs, and recently approved staking within Ether ETFs, which is not yet permitted in the US. It has also introduced stablecoin sandboxes under the supervision of the Hong Kong Monetary Authority to trial approved digital assets in a controlled environment.“Sandboxes are an experiment, so too are staking ETFs,” said Kelvin Koh, a Spartan Group co-founder. “The key point is that these experiments are happening in Hong Kong.”Hong Kong recently released its ASPIRe roadmap in February 2025, which aims to foster blockchain innovation and fill regulatory gaps to set the city up as a global crypto hub.Hong Kong’s five-pillar strategy to become a crypto hub. Source: Securities and Futures CommissionTrump 2.0 dreams of crypto hubUS crypto firms were stuck in regulatory gridlock under the Securities and Exchange Commission formerly led by Gary Gensler, whose aggressive “regulation by enforcement” strategy triggered years-long legal battles.That changed with the inauguration of President Donald Trump, who has embraced a crypto-friendly stance. The SEC has since dropped multiple high-profile cases and investigations, including those against Coinbase, Uniswap and Consensys, signaling a shifting regulatory climate that is prepared to welcome back crypto to US soil.President Trump declares the US the future capital of AI and crypto. Source: The White HouseBinance.US resumed US dollar services in February after 18 months of restriction that followed enforcement action from the Commodity Futures Trading Commission, a $2.7-billion settlement and a four-month prison sentence for ex-Binance CEO Changpeng Zhao.Related: 8 major crypto firms announce US expansion this yearRival exchange OKX reentered the US market in April 2025 after a $500-million settlement with the Department of Justice. Also in April, Nexo announced — during an event with Trump’s son in attendance — that it rekindled its American dream after scrapping it in 2022.Traditional finance is warming up, with institutional investments flooding into Bitcoin and Ether spot ETFs, provided by some of the world’s largest asset managers, including the $11.5-trillion giant BlackRock.The financial love affair goes both ways as crypto firms are also increasingly open to integrating into the existing US infrastructure. Galaxy Digital listed on Nasdaq on May 16, Circle is considering another IPO attempt, and Hong Kong’s blockchain unicorn Animoca Brands is now eyeing a New York listing, citing Trump’s stance on crypto.NYC Mayor Eric Adams opens Wall Street to crypto. Source: Yedda Araujo/CointelegraphThe world’s largest financial center, New York City, is making its own move. Mayor Eric Adams said on May 12 that the Big Apple is “open for business” with crypto companies. UK’s crypto hub push goes quiet, but London’s still callingIn 2023, then-Prime Minister Rishi Sunak launched a bold vision to make the UK a global crypto hub, pushing for stablecoins to be recognized as regulated payment instruments and outlining a broader framework to integrate crypto into the country’s financial system. That momentum translated into real movement: In April 2025, the UK Treasury released near-final legislation aimed at bringing crypto assets — like trading platforms, stablecoins and staking services — within the country’s regulatory perimeter.The Financial Conduct Authority (FCA) is now consulting on how to regulate intermediaries, lending and other core parts of the ecosystem, signaling continued regulatory development.But while the machinery of regulation keeps turning, the political will has cooled. As Arvin Abraham, partner at law firm Goodwin’s private equity group, told Cointelegraph, crypto was once central to Sunak’s competitiveness agenda, but under the current Labour government, that focus has faded.The new Financial Services Growth and Competitiveness Strategy, spearheaded by Chancellor Rachel Reeves, highlights fintech as a priority without a focus solely on crypto.“The UK does not feel like it’s prioritizing it as much as it was a few years ago,” Abraham said.In January, Andreessen Horowitz announced the closure of its UK office to move back to the US. Source: Anthony AlbaneseAbraham added the UK remains “one of the best places to set up a new startup,” especially for early-stage capital raising. He points to generous tax incentives for angel investors and the unique convergence of finance and startups in London, calling it “probably one of the best cities in the world for fintech-type businesses.” In that sense, even without headline-grabbing crypto policy, the UK’s structural appeal still draws Web3 firms — just now with a quieter backdrop.Magazine: South Africa’s digital-nomad crypto hub: Cape Town, Crypto City Guide

Community sales are the future of crypto fundraising

Opinion by: Darius Moukhtarzadeh, Research Strategist at 21SharesA new wave of crypto fundraising is emerging, changing how Web3 projects launch and who can invest at an early stage: Community Sales. At first glance, community sales may seem reminiscent of the ICO (Initial Coin Offering) era from 2016–2017. Yet, they represent a significant evolution that better aligns with crypto's core values of democratization, transparency, and inclusivity.Projects should include community sales as a core element of their fundraising strategy, besides raising from angel investors and VCs. Professional investors should embrace community sales as they highly increase the chances of sustainable success of Web3 projects. The ICO eraThe original ICO boom promised broad retail participation and democratized investment opportunities previously reserved for well-connected insiders. The lack of clear regulatory frameworks led to widespread fraud, rug pulls, and market manipulation. This chaotic environment, rampant exploitation, and regulatory uncertainty eventually forced projects to abandon ICOs, shifting instead to private rounds accessible to well-connected angel investors and venture capitalists. Private funding problemsWhile private funding initially brought much-needed stability and credibility, it also introduced new problems. Over the past two years, many tokens have launched at excessively high FDVs (Fully Diluted Valuation) with a low circulating token supply. These tokens entered exchanges with the majority of supply locked and sky-high valuation, which did not meet the demand. Retail investors, attracted by initial hype, often became collateral damage. The result? Devalued tokens and damaged trust. Most of these tokens will most likely never recover. This market dynamic discouraged investments in new projects and undermined community-building efforts, weakening the overall sustainability of Web3 projects.Airdrops as an unsustainable alternativeAirdrops appeared as another alternative, designed to distribute tokens widely and spark interest in the community for a project. Airdrops frequently fail to produce meaningful, sustainable engagement. Instead, they often became targets for Sybil attackers employing multiple accounts to maximize token gains or airdrop mercenaries hopping from one project to the next, quickly dumping tokens, depressing prices and undermining project credibility. Without genuine financial commitment and interest in the project beyond the airdrop, recipients had little incentive to hold tokens or participate actively in the community.Community sales as the new cool kid on the block(chain)Community sales represent a practical, strategic alternative to private funding and token airdrops, offering a structured way to engage retail investors meaningfully and transparently. Modern community sales on platforms like Legion and Echo feature robust regulatory frameworks, with thorough KYC and AML processes ensuring regulatory compliance and security. These inclusive fundraising opportunities require participants to make real capital commitments, even if modest, cultivating genuine stakeholder interest and reducing short-term speculation.Recent: Blockchain needs efficient use cases for AI agents: X Spaces recap with VCsOne of the most significant advantages of community sales is their ability to democratize access. Investors gain entry under equitable terms, similar or sometimes superior to those previously reserved for venture capitalists. With minimum investments often as low as $100, community sales encourage broad participation, helping to build a genuinely decentralized and committed investor base. Investors who financially commit are far more likely to become long-term holders and active community members.Win-win for projects, other investors, and the communityFor Web3 projects, community sales offer profound benefits beyond immediate capital raising. Early community involvement leads to a more distributed investor base, reducing concentration risk and diverse future users. Projects with broadly distributed tokens consistently exhibit more stable prices, higher community activity, and healthier onchain engagement. Community sales significantly enhance a project's market reputation. Embracing transparent, inclusive fundraising sends a clear signal to the market and prospective users — the project prioritizes collaboration and community involvement over the extraction of value. This transparency builds grassroots evangelism, drives organic growth, and creates a loyal community base committed to the project's ongoing success. Professional investors should embrace community sales and actively encourage their portfolio companies to allocate to the community. The broader crypto market benefits substantially from a shift toward community sales. Projects that raise funds transparently and inclusively from their communities tend to attract more stable, supportive investor bases. This stability positively affects token markets, reducing volatility, restoring investor confidence, and accelerating broader adoption and integration of blockchain technologies into everyday financial services and applications.Community sales represent far more than a revival of ICOs. They mark a mature approach, combining early crypto ideals with today's regulatory clarity and technological possibilities. Projects committed to community sales position themselves for initial fundraising success, enduring market resilience, and community loyalty. The crypto ecosystem, founded on principles of decentralization and inclusivity, should embrace this model to fulfill its potential. Founders should, where possible, include the community when raising capital, as in the end, everyone wins: WAGMI.The views and opinions expressed in this article are solely my own and do not reflect the views of my employer, 21Shares, or any affiliated organizations.Opinion by: Darius Moukhtarzadeh, Research Strategist at 21Shares.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Chinese printer maker spread Bitcoin stealing malware — Report

Chinese printer manufacturer Procolored distributed Bitcoin-stealing malware alongside its official drivers, according to local media reports.Chinese news outlet Landian News reported on May 19 that Shenzhen-based printer company Procolored has been distributing Bitcoin-stealing (BTC) malware alongside official drivers. The company reportedly used USB drivers to distribute malware-ridden drivers and uploaded the compromised software to cloud storage for global download.A total of 9.3 BTC worth over $953,000 have been stolen, according to the report. Crypto tracking and compliance firm Slow Mist described how the malware operates in a May 19 X post:“The official driver provided by this printer carries a backdoor program. It will hijack the wallet address in the user’s clipboard and replace it with the attacker's address.“Source: MistTrackRelated: Massive supply chain attack targeting small number of crypto companies: KasperskyYouTuber flags malware in Procolored driversLandian News recommended users who downloaded Procolored printer drivers in the past six months to “immediately perform a full system scan using antivirus software.” Still, given the hit or miss nature of antivirus software, a full system reset is always the better option when in doubt:“Ideally, you should reinstall your operating system and thoroughly check old files.“The issue was allegedly first reported by YouTuber Cameron Coward, whose antivirus software detected malware in the drivers while testing a Procolored UV printer. The software flagged the drive as containing a worm and a trojan virus named Foxif.Related: Coinbase faces $400M bill after insider phishing attackCybersecurity company confirms crypto-stealing malwareWhen contacted, Procolored denied the claims and dismissed the antivirus tool flagging the drivers as a false positive. Coward turned to Reddit, where he shared the issue with cybersecurity professionals, attracting the attention of cybersecurity firm G-Data.G-Data’s investigation found that most of Procolored’s drivers were hosted on the file hosting service MEGA, with uploads as old as October 2023. Analysis of those files confirmed that they were compromised by two distinct pieces of malware: backdoor Win32.Backdoor.XRedRAT.A and a crypto stealer designed to substitute addresses in the clipboard with those controlled by the attacker.G-Data contacted Procolored, with the hardware producer saying it deleted the infected drivers from its storage on May 8 and re-scanned all files. Procolored attributed the malware to a supply chain compromise, stating that the malicious files were introduced through infected USB devices before being uploaded online.Related: Crypto drainers as a service: What you need to know

Roman Storm's Defense Team Wants to Know if DOJ Withheld Evidence

Franklin taps blockchain to offer yield on idle payroll funds

Franklin, a hybrid cash and crypto payroll provider, is launching a new initiative that aims to turn idle-sitting payroll into an opportunity for yield.The new solution, dubbed Payroll Treasury Yield, uses blockchain lending protocols to help firms earn returns on payroll funds that would otherwise sit idle, the company told Cointelegraph in an exclusive statement.Franklin said its new offering integrates Summer.fi, a decentralized finance (DeFi) lending platform, to allow companies to deposit stablecoin-denominated payroll reserves into smart contract-based lending pools.These funds are lent to vetted borrowers, and companies earn yields while retaining access to their capital. Companies maintain full custody throughout the process, and smart contracts used are audited to reduce risk.“The problem that Franklin solves for is two-fold,” Megan Knab, founder and CEO of Franklin, told Cointelegraph. For companies that have already integrated crypto onto their balance sheets, Franklin helps them use those assets to manage their operations, she said.“But for the broader market, we are enabling business models of the future, where money moves instantly, more intelligently, and to more globally,” Knab added.Source: FranklinRelated: PayPal to offer 3.7% yield on stablecoin balances: ReportAlternative to T-BillsFranklin said its new offering is an alternative to traditional treasury tools like sweep accounts or T-bills, which often involve operational complexity and limited returns.Furthermore, it differentiates from earned wage access (EWA) platforms, which enable employees to access their earned wages before their scheduled payday by avoiding additional debt and associated costs.“Traditional payments in the next decade will run entirely on public blockchain rails as a wholesale replacement to ACH and SWIFT,” Knab said.She added that if onchain payroll products go mainstream, banks could fade into the background. While technology may replace many banking functions with self-custody tools and smart contracts, regulatory frameworks will still require accountable legal entities.The result may be “zombie-like institutions” — banks in name only, existing to meet compliance rules but playing a minimal role in actual payment processing, Knab said.However, decentralized lending comes with risks like smart contract vulnerabilities and market fluctuations. Franklin said it aims to mitigate these by using Summer.fi’s audited contracts and overcollateralized lending.Related: How to Use tsUSDe on TON for Passive Dollar Yield in 2025Rising interest in yield-generating strategiesInterest in yield-generating strategies within the cryptocurrency sector has surged in recent years, driven by both retail and institutional investors seeking to maximize returns on their digital assets.On May 16, Solv Protocol launched a yield-bearing Bitcoin token on the Avalanche blockchain, giving institutional investors more exposure to yield opportunities backed by real-world assets, or RWAs.On May 1, Ryan Chow, co-founder and CEO of Solv Protocol, said the demand for yield-generating strategies around Bitcoin is surging, especially from firms seeking liquidity without liquidating their BTC.Magazine: Arthur Hayes $1M Bitcoin tip, altcoins’ powerful rally’ looms: Hodler’s Digest, May 11 – 17

Bitcoin Network Hashrate Rose Slightly in First Two Weeks of May: JPMorgan

CoinDesk 20 Performance Update: Index Drops 4.7% Over Weekend as All Assets Decline

Hoskinson promises audit, is ‘deeply hurt’ by $600M Cardano treasury claims

The Cardano Foundation is preparing to release an audit report on its treasury holdings after fresh allegations surfaced claiming misappropriation of roughly $600 million worth of ADA tokens. Cardano founder Charles Hoskinson is facing renewed scrutiny from community members, including non-fungible token artist Masato Alexander, who alleged that Hoskinson manipulated the Cardano ledger using a “genesis key to rewrite it and take control” of $619 million worth of Cardano (ADA) during the network’s 2021 Allegra hard fork.Source: Masato AlexanderRelated: Nasdaq-listed GDC plans to buy Bitcoin and TRUMP memecoin for $300MA secondary, “Move Instantneous Rewards” transaction dated Oct. 24, 2021, shows a transfer of over 318 million ADA tokens, which enabled the funds to flow from reserve pools into staking or treasury allocations.318 million ADA MIR transactions. Source: CardanoscanHowever, ADA redemptions stayed open for another three years after the transaction, responded Hoskinson, adding that the “vast majority of that 350 million ADA was redeemed by the original buyers,” a process that took a total of seven years.Charles Hoskinson. Source: Cointelegraph“IOG never gave itself 350 million unclaimed ADA. This is a lie. The vast majority was claimed, and the remaining that was forfeited after seven years of waiting was donated to Intersect,” Hoskinson wrote in a May 6 X post.Related: Solana co-founder proposes meta chain to fix blockchain fragmentationHoskinson “deeply hurt” by community reactionHoskinson confirmed that an audit report related to the hard fork is in progress, but added that he is “deeply hurt” by the community’s mistrust after the allegations.“To not be given the benefit of the doubt here without strong evidence to the contrary means I don’t have the connection I thought with some people,” Hoskinson wrote in a May 18 X post, adding:“After the audit report comes out, I’m going to likely turn my X account over to a media team and change the format of my AMAs and X spaces.”Hoskinson, who was also one of the co-founders of Ethereum, is among the leading figures in blockchain development.Speaking at Paris Blockchain Week 2025, Hoskinson emphasized the need for collaborative economics in the crypto industry to counter growing competition from traditional tech firms entering the blockchain space due to growing regulatory clarity.Magazine: Bitcoin eyes ‘crazy numbers,’ JD Vance set for Bitcoin talk: Hodler’s Digest

BounceBit Pilots Bitcoin Trading Strategy Using BlackRock's BUIDL as Collateral

Strategy buys 7,390 BTC for $765M, gets hit with class-action lawsuit

Strategy, formerly MicroStrategy, and the top corporate Bitcoin holder, acquired nearly $765 million of Bitcoin last week. The purchase comes as the company faces a class-action lawsuit.According to a May 19 announcement, Strategy acquired 7,390 BTC for about $764.9 million at an average price just under $103,500. Strategy reported a Bitcoin yield of 16.3% year-to-date.As of May 18, Strategy holds 576,230 BTC acquired for around $40.18 billion at an average price of $69,726 per coin. At current prices, the company’s total holdings are valued at more than $59.2 billion, representing an unrealized gain of $19.2 billion, or 47%.According to CoinMarketCap data, Bitcoin traded at around $102,615 at the time of writing, up 20.3% over the last month.Bitcoin's price chart. Source: CoinMarketCapRelated: Jim Chanos takes opposing bets on Bitcoin and StrategyStrategy hit with a lawsuitAccording to a May 19 filing with the US Securities and Exchange Commission, “a purported class action lawsuit was filed in the US District Court for the Eastern District of Virginia against” the company’s executives, including executive chairman Michael Saylor, its president and CEO Phong Le and executive vice president and chief financial officer Andrew Kang.Strategy officials are accused of “violations of Section 10(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 thereunder, and Section 20(a) of the Exchange Act.” The filing states:“The [suit claims] that the named defendants made false and/or misleading statements with respect to and/or failed to disclose information with respect to the anticipated profitability of our Bitcoin-focused investment strategy and treasury operations, and the various risks associated with bitcoin’s volatility.“Related: Strategy will beat all public equities with Bitcoin, analyst saysStrategy keeps inspiring othersStrategy’s Bitcoin treasury strategy has inspired multiple other companies to follow in its footsteps. Last week, shares of luxury watchmaker Top Win surged more than 60% in premarket trading after the company said it would adopt a Bitcoin accumulation strategy and had changed its name to AsiaStrategy.AsiaStrategy said it is partnering with Sora Ventures to implement its plan, the firm that notably partnered with Metaplanet in 2024 to create Japan’s first corporate Bitcoin treasury. Also last week, a Bahrain-based listed catering company with a $24.2 million market cap adopted a Bitcoin treasury strategy in partnership with investment firm 10X Capital.Magazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review

Crypto Investment Products Fully Recover From $7B Outflows Seen in February-March

XRP price risks falling to $2 after classic bearish chart pattern confirms

Key takeaways:XRP could be headed lower to $2 following a breakdown of a classic head-and-shoulders pattern.Declining open interest in XRP futures signals weakening trader confidence.The XRP (XRP) price is flashing warning signs as a bearish technical pattern resolves on lower timeframes, coinciding with massive long liquidations and decreasing open interest.XRP H&S pattern hints at a 14% price dropXRP price action has formed a head-and-shoulders (H&S) pattern on its four-hour chart since May 9, projecting a likely down-move.The head-and-shoulders pattern is a bearish reversal pattern that can signal a change in trend. It consists of three peaks: a higher peak (head) and two lower peaks (shoulders). It is resolved when the price breaks below the neckline (the line connecting the lows of the left and right shoulder), confirming the pattern and suggesting a potential sell signal.In XRP’s case, the pattern was validated following a break and close below the neckline at $2.33 during the early Asian trading hours on May 19. If the price stays below the neckline, the XRP/USD pair could slide further to $2.25 (where the 200-day simple moving average currently sits) and then to the pattern target of $2.00. This would bring the total losses to 14% from the current levels.XRP/USD four-hour chart. Source: Cointelegraph/TradingViewAs Cointelegraph reported, a possible decline to as low as $2.00 is currently in play as bullish momentum has decreased.For popular analyst Egrag Crypto, XRP price “must hold” the support at $2.30, which aligns with the H&S neckline, to avoid a breakdown toward these targets. Related: XRP price path to $3.40 remains intact — Here is whyThe analyst shared a chart showing that a drop below $2.30 could trigger a massive sell-off, with the initial target set around $2.15 and then as low as $1.60.Source: Egrag CryptoXRP open interest down $1 billion in 5 daysXRP open interest (OI) has decreased by 18% to $4.49 billion over the last five days. This decline in OI signals reduced trader confidence and liquidity, which drives prices down.XRP futures open interest. Source: CoinGlassThe latest drawdown in XRP price has also triggered liquidations over the last day, where long positions valued at $12 million were forcibly closed, compared to just $1.4 million in shorts. Total XRP liquidations across all exchanges. Source: CoinGlassThis reflects heightened selling pressure as bullish traders are forced to sell at a loss, further pushing prices lower.Importantly, XRP’s 3% drop over the last 24 hours is accompanied by a 70% increase in daily trading volume to $4.1 billion. Trading volume increases amid a price decline can be interpreted as increasing bearish momentum or repositioning by crypto traders as they wait for XRP’s next move. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Ethereum's Vitalik Buterin Proposes Design to Make Running Nodes Easier

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Australian court ruling could lead to $640M in Bitcoin tax refunds

A court decision in Australia could open the door to as much as $640 million in capital gains tax (CGT) refunds on Bitcoin transactions after a judge ruled that crypto should be treated as money rather than a taxable asset. On May 19, the Australian Financial Review (AFR) reported that the decision arose within a criminal case involving federal police officer William Wheatley, who allegedly stole 81.6 Bitcoin (BTC) in 2019. At the time, the assets were worth roughly $492,000. At current market prices, the tokens are valued at more than $13 million.In the case, Judge Michael O’Connell of Victoria ruled that Bitcoin qualifies as a form of money rather than property, likening the digital asset to Australian dollars rather than to shares, gold or foreign currency.The interpretation could set a legal precedent, potentially placing Bitcoin transactions outside the scope of Australia’s current CGT regime. New court ruling challenges Australian crypto tax lawsIn an AFR interview, tax lawyer Adrian Cartland said the verdict “totally upends” the Australian Taxation Office’s (ATO) current position. Since 2014, the ATO has classified crypto assets as CGT assets. This means that users must pay tax when selling or trading them. Under the ATO’s guidance, any disposal of Bitcoin, including selling it for fiat, exchanging it for another crypto or using it to purchase goods or services, constitutes a CGT event. This framework has been the basis for taxing cryptocurrency transactions in Australia for over a decade. However, the recent ruling challenges the approach by suggesting that Bitcoin functions more like money than property. This potentially exempts it from CGT.Related: Australian feds seize mansion, Bitcoin allegedly linked to crypto exchange hackTax refunds could reach $640 millionCartland said it was held that Bitcoin is Australian money. “That is, it is not a CGT asset. Therefore, acquisitions and disposals of Bitcoin have no tax consequences,” the tax lawyer added. If the ruling is upheld on the appeal, Cartland estimates that there could be potential tax refunds totalling 1 billion Australian dollars ($640 million). However, while Cartland thinks there could be up to a billion in refunds, the ATO said there were no official figures that confirm the amount to be potentially refunded if the case changes how Bitcoin is taxed in Australia. Magazine: Binance Wallet ‘killing’ MetaMask and airdrops, Chinese RWA tokens: Asia Express

Crypto Daybook Americas: Bitcoin Whiplash Shakes Market as U.S. Yield Spike Threatens Bull Run

US crypto funds top $7.5B inflows in 2025 as investor appetite grows

Crypto investment products in the United States have attracted over $7.5 billion worth of investment in 2025, with a fifth week of net positive inflows last week signaling growing investor demand for digital assets.US-based crypto investment products attracted $785 million worth of investment last week, pushing the year-to-date (YTD) total to over $7.5 billion, according to a May 19 report by digital asset manager CoinShares. The latest figure marks the fifth consecutive week of net positive flows, following nearly $7 billion in outflows during February and March.Weekly crypto asset flows, USD, million. Source: CoinSharesThe United States accounted for the bulk of inflows, with $681 million, followed by Germany at $86.3 million and Hong Kong at $24.4 million. Crypto flows by country. Source: CoinSharesInvestor demand for risk assets such as cryptocurrencies staged a significant recovery after the White House announced a 90-day pause on additional tariffs on May 12, which marked a 24% cut for import tariffs for both the US and China.A day after the announcement, Coinbase exchange saw 9,739 Bitcoin (BTC) worth more than $1 billion withdrawn from the exchange — the highest net outflow recorded in 2025, signaling that institutional appetite was “accelerating,” according to Bitwise head of European research, André Dragosch.Related: Tether surpasses Germany’s $111B of US Treasury holdingsEthereum leads with $205 million in weekly inflowsEther (ETH) was the top performer among crypto investment products, attracting $205 million in inflows last week. That brings its year-to-date total to more than $575 million. The report attributed the $200 million to renewed investor optimism following the successful Pectra upgrade and the appointment of new co-executive director Tomasz Stańczak.After initial delays, Ethereum’s Pectra upgrade went live on the mainnet on May 7, introducing improvements such as higher staking limits and account abstraction via EIP-7702.By contrast, Solana (SOL) investment products were the only major assets to see net outflows, with $890,000 withdrawn over the past week. Related: Bitcoin breaks out while Coinbase breaks down: Finance RedefinedMeanwhile, Ethereum co-founder Vitalik Buterin published a proposal to preserve trustless, censorship-resistant access to Ethereum, aiming to make Ethereum layer-1 scaling “more friendly” to users running local nodes for personal use. “The plan would drastically reduce the 1.3TB data burden by allowing nodes to sync only relevant information, opening the door to broader participation,” Stella Zlatareva, Nexo Dispatch editor, told Cointelegraph.Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

Revolut eyes French license and $1.1B expansion amid EU growth

Revolut, a European neobank with crypto support, plans to invest more than 1 billion euro ($1.1 billion) in France and apply for a local banking license.According to a May 19 Fortune report, Revolut representatives announced the initiative during the Choose France business summit hosted by President Emmanuel Macron in Paris. The London-based neobank also plans to set up its new European Union-serving headquarters in Paris, promising to invest 1 billion euro and hire at least 200 people within three years.Revolut spokespeople also said that the firm is in the process of submitting an application to the French banking regulator Prudential Supervision and Resolution Authority. According to an anonymous source cited by Fortune, the regulator has been pushing the neobank to get a license to improve supervision due to its popularity in France.Revolut currently employs about 300 people and serves five million customers in France. This makes the nation the neobank’s top European Union market.Related: Revolut doubles profits to $1.3B on user growth, crypto trading boomAiming for the starsRevolut hopes to onboard 10 million users by the end of next year and then double that number by 2030. The firm already offers loans, trading and cryptocurrency support in its mobile-first banking platform.The neobank has seen rapid growth ever since its founding in 2015. The company recently received a $45 billion valuation and reportedly served over 55 million customers as of late May.Revolut’s 2024 annual report release shows that the firm’s 2024 revenue was 3.1 billion British pounds ($4 billion). A recent Financial News article also puts the company’s headcount at 10,133 employees as of Dec. 31, 2024.Related: Revolut expands crypto exchange to 30 new markets in EuropeAn increasingly regulated institutionRevolut obtained its UK banking license in late July 2024, where 11 million of its customers are located. Now, the neobank is aggressively looking to obtain similar permits across other jurisdictions, with 10 applications underway.Revolut received the Prepaid Payment Instruments license from India’s central bank earlier this month. This license allows the bank to offer multi-currency forex cards and cross-border remittance services in India.EU-based Revolut customers now leverage its Lithuania operations. The firm received a banking license in Lithuania at the end of 2018, enabling it to serve customers across the European Economic Area better.Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Dubai regulator sets compliance deadline for updated crypto rules

Dubai’s crypto regulator has given licensed digital asset companies until June 19 to comply with its updated activity-based Rulebooks to enhance market integrity and risk oversight. On May 19, Dubai’s Virtual Assets Regulatory Authority (VARA) announced that it had released Version 2.0 of the Rulebooks. The regulator said it had strengthened controls around margin trading and token distribution services, harmonised compliance requirements across all licensed activities and given clearer definitions for collateral wallet arrangements. VARA’s team will engage with licensed entities and expects the companies to comply with the updated rules after a 30-day transition period.“In line with global regulatory best practices, a 30-day transition period has been granted to all impacted virtual asset service providers [VASPs], with full compliance required by 19 June 2025,” VARA wrote.  VARA enhances supervisory mechanismsVARA highlighted that it had enhanced supervisory mechanisms across several regulated activities. This includes advisory, broker-dealer, custody, exchange, lending and borrowing, virtual asset (VA) management and investment, and VA transfer and settlement services. A VARA spokesperson told Cointelegraph that the updates will bring consistency across all activity-based rules defining core operational terms. The spokesperson gave examples of terms like “client assets,” “qualified custodians,” and “collateral requirements” as some of the terms more consistently defined in the update.  The update also aligned risk management and disclosure obligations, where activities overlap, in areas like brokerage, custody and exchange. “The aim was to reduce ambiguity and help VASPs navigate cross-functional compliance more easily,” VARA told Cointelegraph. Related: Dubai gov’t agencies to link real estate registry with property tokenizationDubai regulator tightens leverage thresholds for margin tradingAs for margin trading, the VARA spokesperson said they tightened leverage thresholds, mandated clearer collateralisation standards, and enhanced the monitoring obligations for VASPs offering this feature. Margin trading allows traders to control large positions with smaller amounts of capital. It amplifies both gains and losses. Tightening the leverage traders use helps limit the risks of widespread liquidations in a market downturn. The crypto regulator introduced a new section on token distribution that sets out licensing prerequisites, investor protections and marketing restrictions. The spokesperson emphasized the marketing restrictions, especially for “retail-facing offers.” “It’s about aligning with global conduct expectations and closing observed regulatory gaps,” the VARA spokesperson said. Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

VARA Fortifies Controls on Crypto Margin Trading in Dubai, Refreshes Rulebook

Tether surpasses Germany’s $111B of US Treasury holdings

Tether, the $151 billion stablecoin issuance giant, has surpassed Germany in United States Treasury bill holdings, showcasing the benefits of a diversified reserve strategy that has helped the firm navigate the volatility of the cryptocurrency market.Tether, the issuer of the world’s largest stablecoin, USDt (USDT), has surpassed Germany’s $111.4 billion worth of US Treasurys, data from the US Department of the Treasury shows.Foreign countries by US Treasury holdings. Source: Ticdata.treasury.govTether has surpassed $120 billion worth of Treasury bills, the firm shared in its attestation report for the first quarter of 2025. That makes Tether the 19th largest entity among all counties in terms of T-bill investments.“This milestone not only reinforces the company’s conservative reserve management strategy but also highlights Tether’s growing role in distributing dollar-denominated liquidity at scale,” wrote Tether in the report. Related: Central banks testing smart contract toolkit under BIS Project PineDuring 2024, Tether was the seventh-largest buyer of US Treasurys across all countries, surpassing Canada, Taiwan, Mexico, Norway, Hong Kong and numerous other countries, Cointelegraph reported in March 2025.Source: Paolo ArdoinoTreasurys are debt securities issued by the US government, considered some of the safest and most liquid investments available worldwide. Tether invests in Treasurys as an additional reserve asset for its US dollar-pegged stablecoin.Related: Paolo Ardoino: Competitors and politicians intend to ‘kill Tether’Tether’s Treasury, gold portfolio “almost offset” crypto market volatility losses for Q1 2025Tether’s traditional reserve assets helped the stablecoin giant weather the downside volatility of the crypto market during the first quarter of 2025.Tether reported over $1 billion in operating profit from “traditional investments” during the first quarter of the year, “driven by solid performance in its US Treasury portfolio, while the performance of Gold has almost offset the volatility in crypto markets,” according to the firm’s attestation report.Growing clarity around US stablecoin regulations could lead to more investments in Tether’s dollar-denominated stablecoin, part of which will be used to further bolster the firm’s Treasury reserves.The industry is currently awaiting progress on two pieces of legislation. The Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act currently awaits scheduling for debate and a floor vote in the House of Representatives, after it passed the House Financial Services Committee on April 2 in a 32-17 vote.However, the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, stalled on May 8 after failing to gain support from key Democrats, some of whom voiced concerns about US President Donald Trump’s potential financial interest in clearer crypto regulations, due to his family’s digital asset ventures.On May 14, at least 60 of the top crypto founders gathered in Washington, DC, to support the GENUIS Act, which seeks to establish collateralization guidelines for stablecoin issuers and requires full compliance with Anti-Money Laundering laws.Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

$107K fakeout or new all-time highs? 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week with a long-awaited breakout from a narrow trading range around $103,000. BTC price action grabs liquidity before reversing to its starting position, liquidating many an emotional trader on the way. A fakeout or a taste of things to come?The May 18  daily and weekly close nonetheless became Bitcoin’s highest ever.US trade deals remain high on the list of macro volatility triggers for risk asset traders this week.Crypto’s correlation with stocks paints a mixed picture, adding to uncertainty over how macro developments will influence Bitcoin and altcoins going forward.Bitcoin exchange volume delta becomes a key ingredient in assessing the staying power of BTC price breakouts, per analysis from CryptoQuant. A liquidity grab for the agesBitcoin price action delivered some “classic” moves around the May 18 weekly close.A trip to new multimonth highs near $107,000 was followed by a 4% correction in a matter of hours, data from Cointelegraph Markets Pro and TradingView shows.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewThe spike took out a block of liquidity nestled close to all-time highs, with BTC/USD performing a liquidity “grab” designed to first squeeze out shorts and then trap late longs.“Classic liquidity trap above the recent high and reversal downwards,” crypto trader, analyst and entrepreneur Michaël van de Poppe responded on X. “I think we'll do the same at $100K before we'll start breaking out above the ATHs. Those are the zones to accumulate your Bitcoin.”BTC/USDT 4-hour chart with RSI data. Source: Michaël van de Poppe/XData from monitoring resource CoinGlass showed ask liquidity being replenished at $107,500, keeping the price from heading higher. The market then took out bid liquidity to $102,000.Total crypto liquidations in the 24 hours to the time of writing were $673 million.BTC liquidation heatmap. Source: CoinGlassDiscussing the outlook for Bitcoin, trader CrypNuevo was among those arguing for caution instead of entering at any level in the current range above $100,000.“From a risk management perspective, I don’t see it worth it to go long right now at market price,” he wrote in an X thread prior to the weekly close volatility. “Yes, price could go up as the HTF trend suggests but as a trader I look for low risk entries. We're currently at resistance. Clearing it would make a much more attractive entry.”BTC/USDT 1-week chart with 50EMA. Source: CrypNuevo/XCrypNuevo acknowledged that bullish signals on high timeframes remain and highlighted the retest of the 50-week exponential moving average (EMA) in April, which has historically led to new all-time highs.This weekend, another prediction called for $116,000 to arrive in the coming days.Bitcoin scores highest weekly close in historyIt may not have lasted long, but Bitcoin’s latest weekly close has become the highest ever recorded.Coming in at around $106,500, the weekly candle also allowed for a new all-time high daily close.BTC/USD 1-week chart. Source: Cointelegraph/TradingViewDespite the subsequent correction of nearly 4%, traders are keen to celebrate what they see as an underlying desire for the market to push higher.Highest weekly close ever for Bitcoin. The trend is your friend! pic.twitter.com/p4td9Ab4R8— CryptoGoos (@crypto_goos) May 19, 2025“Highest weekly close ever followed by a red start to the week? Yeah - get the low in early, this week likely ends in the green big time,” trader Jelle argued in an X analysis.Fellow trader Chad noted that BTC/USD has also managed to close above a key Fibonacci extension level for two consecutive weeks — a first of its kind.BTC/USD 1-week chart with Fibonacci levels. Source: Chad/XPrivate wealth manager Swissblock Technologies saw one key ingredient to bullish continuation.“Bitcoin flirted with $107K, grabbed liquidity above $104K–$106K but failed to hold,” it summarized in its latest X reaction.“Back in the range, support holding, for now. Bulls have one job: defend this range.”BTC price data. Source: Swissblock Technologies/XCoinGlass showed that May is a highly varied month for BTC price action. Currently, its 10% gains sit in the middle of a wide range of historical outcomes, with under two weeks left until the monthly close.BTC/USD monthly returns (screenshot). Source: CoinGlassUS trade war rumbles on as Bitcoin ignores rate-cut oddsA lack of crucial macroeconomic data reports this week places the focus on the Federal Reserve and US trade deals.In particular, markets will be looking for positive developments regarding trade ties between the US and its partners. Treasury Secretary Scott Bessent promised to enact new tariffs on those who do not negotiate in “good faith.”News of a deal with China caused a snap reaction for stocks earlier this month, with traders feeling a sense of relief.This may not be so evident as the week begins, thanks to the recent US credit downgrade by Moody’s, wiping 1% off stocks’ futures prior to the first Wall Street open.With the dollar again under pressure, trading resource The Kobeissi Letter suggested that Bitcoin and altcoins may still benefit in the current climate.“Crypto is loving the Moody’s downgrade: Bitcoin is now 4% away from a new all time high and up over +40% since its April low,” it noted around the weekly close. “As the US Dollar weakens and uncertainty rises, Bitcoin and Gold are thriving. Instability is Bitcoin’s best friend.”US dollar Index (DXY) 1-day chart. Source: Cointelegraph/TradingViewCrypto is also increasingly resilient to hawkish cues from the Fed, which has given markets reason to believe that interest rate cuts will not come before September. Data from CME Group’s FedWatch Tool shows the odds of a cut at the Fed’s upcoming June meeting at just 12%. Jobless claims on May 22 could shift those expectations if the result differs significantly from predictions.Fed target rate probabilities (screenshot). Source: CME GroupFed Chair Jerome Powell will deliver the annual Georgetown University Law Center Commencement Address on May 25, but it is unlikely to provide much policy insight.Crypto stocks correlation in fluxDiverging reactions to the Moody’s downgrade set the stage for a debate around crypto’s correlation with US stocks.In its latest analysis, research firm Santiment could not draw a clear conclusion over the two asset classes’ relationship, calling them “somewhat correlated.”“With the 90-day tariff pause between the US & China Monday, markets remain within striking distance of all-time highs,” it summarized on May 17, referring to the S&P 500, Bitcoin and gold.Bitcoin vs. S&P 500 vs. gold. Source: Santiment/XSeparate findings from blockchain data provider RedStone Oracles drew a distinction between long- and short-term correlation.While negative on a rolling seven-day basis, it told Cointelegraph, a 30-day perspective delivers a “valuable correlation” between Bitcoin and the S&P 500.Bitcoin, S&P 500, 30-day rolling correlation, 1-year chart. Source: Redstone OraclesMeanwhile, market participants have aired frustration at crypto’s susceptibility to the same volatility triggers impacting stocks.“It was a lot more enjoyable when $BTC traded independently of stocks,” commentator IncomeSharks told X followers on May 19. “It seems now it's just a way for people to trade stock futures during the weekend and mirror what the $SPY is doing during the week.”Volume delta warns over “local market top”Considering what it might take to launch Bitcoin back into price discovery, a new analysis looked at exchange order-book behavior.Related: Bitcoin hitting $220K ‘reasonable’ in 2025, says gold-based forecastBinance, in particular, was under the microscope as the exchange with the largest spot volumes. Volume delta, onchain analytics platform CryptoQuant said, is a key ingredient in sustained price moves.“After the recent market correction, the spot net volume delta on Binance has turned positive again,” contributor Darkfost wrote in a “Quicktake” blog post on May 18.“This signals that buying activity is picking up on spot markets, but more importantly, that selling pressure has significantly declined, even with BTC trading above $100 000. However, historically, when spot volumes on Binance rise too quickly and too sharply, it has often coincided with local market tops.”Bitcoin spot net volume delta. Source: CryptoQuantVolume delta measures the difference in buy and sell pressure across candles, helping assess the underlying strength of bid and ask sides.CryptoQuant suggests that investors throwing caution to the wind around breakouts contributes to unsustainable price spikes, and monitoring volume delta helps avoid disadvantageous market entries.“Rather than being a warning sign, rising spot volumes at this point would be encouraging for market strength,” Darkfost continued. “Tracking spot volumes can provide valuable insights into investor behavior, especially on Binance, which handles the largest share of global trading.”This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Crypto drainers as a service: What you need to know

What is a crypto drainer? A crypto drainer is a malicious script designed to steal cryptocurrency from your wallet. Unlike regular phishing attacks that try to capture login credentials, a crypto drainer tricks you into connecting your wallets, such as MetaMask or Phantom, and unknowingly authorizing transactions that grant them access to your funds.Disguised as a legitimate Web3 project, a crypto drainer is usually promoted via compromised social media accounts or Discord groups. Once you fall prey to the fraud, the drainer can instantly transfer assets from the wallet.Crypto drainers may take various forms:Malicious smart contracts that initiate unauthorized transfers.Fake NFTs or token systems that create deceptive exchanges or assets.Crypto drainers are a growing threat in Web3, enabling quick, automated theft of crypto assets from unsuspecting users through deception. Common methods of crypto drainers include: Phishing websites.Fake airdrops.Deceptive ads.Malicious smart contracts.Harmful browser extensions.Fake NFT marketplaces. Crypto drainers-as-a-service (DaaS), explained DaaS elevates the threat of crypto drainers by commercializing them. Just like  software-as-a-service (SaaS) platforms, DaaS platforms sell ready-to-use malware kits to cybercriminals, often in exchange for a percentage of the stolen funds.In the DaaS model, developers offer turnkey draining scripts, customizable phishing kits and even integration help in exchange for a share of the stolen funds. A DaaS offer might be bundled with social engineering support, anonymization services and regular updates, making them attractive even to low-skill scammers.Types of crypto DaaS tools include:JavaScript-based drainers: Malicious JavaScript is embedded into phishing websites that mimic legitimate decentralized apps (DApps). These scripts execute when you connect your wallet, silently triggering approval transactions that drain assets. Token approval malware: Tricks users into granting unlimited token access via malicious smart contracts.Clipboard hijackers: Hackers use clipboard hijackers to monitor and replace copied wallet addresses with those controlled by attackers. Info-stealers: They harvest browser data, wallet extensions and private keys. Some DaaS packages combine these with loader malware that drops additional payloads or updates the malicious code. Modular drainer kits: Segregated into modules, these drainers use obfuscation techniques to bypass browser-based security tools. Did you know? According to Scam Sniffer, phishing campaigns using wallet drainers siphoned off over $295 million in NFTs and tokens from unsuspecting users in 2023. What crypto DaaS kits include Crypto DaaS kits are pre-built toolsets sold to scammers, enabling them to steal digital assets with minimal technical skill. These kits typically include phishing page templates, malicious smart contracts, wallet-draining scripts and more.This is what crypto DaaS kits generally include:Pre-built drainer software: Plug-and-play malware requiring minimal setup.Phishing kits: DaaS providers supply customizable phishing website templates that hackers can modify according to their plans.Social engineering: With DaaS, hackers find support for social engineering along with psychological tactics to trick users into connecting their wallets.Operational security (OPSEC) tools: To avoid detection, some DaaS vendors offer advanced operational security tools that mask user identity and hide digital footprints.Integration assistance and/obfuscation: These services help attackers deploy drainer scripts seamlessly and use obfuscation tools to evade tracking.Regular updates: Frequent improvements are designed to bypass wallet defenses and detection systems.User-friendly dashboards: Control panels that help attackers oversee operations and monitor drained funds.Documentation and tutorials: Step-by-step instructions enabling even beginners to execute scams efficiently.Customer support: Some DaaS operators provide real-time help through secure messaging apps like Telegram.With DaaS kits available for as little as $100 to $500, or through subscription models, sophisticated crypto attacks are no longer limited to experienced hackers. Even the inexperienced can now access these scripts with a small budget, effectively democratizing this type of crime.Did you know? Advanced DaaS tools often update scripts to evade detection from browser extensions like WalletGuard and security alerts issued by MetaMask or Trust Wallet. Evolution of crypto drainers as prominent fraudulent activity The threat landscape of cryptocurrency fraud is constantly evolving. Emerging around 2021, crypto drainers have rapidly transformed the landscape. Their ability to stealthily siphon funds from users' wallets has made them a threat that demands vigilance.Drainers specifically designed to target MetaMask began to emerge around 2021 and were openly advertised on illicit online forums and marketplaces.Here are some prominent drainers that have been around for some time:Chick Drainer: It emerged in late 2023, targeting Solana (SOL) users through phishing campaigns. It operates using the CLINKSINK script, embedded in fake airdrop websites.Rainbow Drainer: The platform shares code similarities with Chick Drainer, suggesting potential reuse or collaboration among threat actors.Angel Drainer: Launched around August 2023, Angel Drainer is widely promoted on Telegram by threat groups like GhostSec. Affiliate scammers need to make an upfront payment between $5,000 and $10,000 and also pay a 20% commission on all stolen assets facilitated through its platform.Rugging’s Drainer: Compatible with several crypto platforms, this DaaS drainer offers comparatively low commission fees, typically ranging from 5% to 10% of the stolen proceeds. In the wake of the US Securities and Exchange Commission’s X account being compromised in January 2024, Chainalysis found a crypto drainer acting as the SEC. This led users to connect their wallets in an attempt to claim nonexistent airdropped tokens.According to a Kaspersky Security Bulletin, dark web threads discussing crypto drainers rose sharply in 2024, jumping by 135% to 129 threads from 55 in 2022. These conversations encompass a wide range of topics, including buying and selling malicious software and forming distribution teams.As the following chart demonstrates, crypto drainers have been stealing crypto at a faster quarterly growth rate than even ransomware. Red flags to identify a crypto DaaS attack Spotting a crypto wallet drainer attack early is crucial to minimizing potential losses and securing your assets. You must be careful, as a sophisticated drainer attack can sometimes evade standard alert mechanisms. You must remain vigilant even while relying on automated tools. Here are a few indicators that your wallet may be under threat:Unusual transactions: A red flag of a drainer attack is finding transactions you didn’t authorize. These may include unexpected token transfers or withdrawals to unknown wallet addresses. Sometimes, attackers execute multiple small transfers to avoid detection, so you must monitor for repeated unusual transactions of low-value crypto. Lost access to wallet: If you cannot access your wallet or your funds are missing, it could mean an attacker has taken control. This often happens when the drainer changes private keys or recovery phrases, effectively locking you out. Security alerts from wallet providers: Your crypto wallet may issue security alerts for suspicious actions, like logins from new devices, failed access attempts or unauthorized transactions. These warnings indicate that someone may be trying to access your wallet or has already accessed it.Fake project websites or DApps: If you find a cloned or newly launched platform mimicking a real Web3 service and prompting wallet connections, it is a warning sign of a crypto drainer. It might also have urgent calls to action, urging users to immediately claim rewards, airdrops, or mint NFTs. The objective is to pressure victims into connecting wallets without verifying authenticity.Unverified social media promotions: Suspicious links shared via X, Discord, Telegram or Reddit, often unverified profiles, indicate a fraudulent attempt to drain money from a wallet. Fraudsters may also use compromised accounts to share malicious links. Unaudited smart contracts: Interacting with unfamiliar contracts without public audits or GitHub transparency can expose wallets to hidden drainer scripts.Wallet prompts requesting broad permissions: Sign-in or approval requests that ask for full token spending access or access to all assets, rather than specific transactions, are serious warning signs.Did you know? Just one popular drainer kit can be used by hundreds of affiliates. That means a single DaaS platform can be behind thousands of wallet thefts in a matter of days. How to protect your crypto wallet from DaaS attackers To protect your crypto wallet from DaaS attackers, adopting strong, proactive security practices is essential. Blockchain monitoring tools can help identify suspicious patterns linked to drainer activity, allowing you to respond quickly. Here are key strategies to help protect your digital assets:Use hardware wallets: Hardware wallets, or cold wallets, store private keys offline, shielding them from online threats like malware and phishing. Keeping your keys in a physical device significantly lowers the risk of remote attacks and is ideal for securing long-term crypto holdings.Enable 2FA (two-factor authentication): Adding 2FA to your wallet means even if someone steals your password, they will need a second verification step. They need to put in a verification code sent to your phone to access the account, along with your password, making unauthorized access much harder.Avoid phishing links: Always verify URLs and avoid clicking on unsolicited messages claiming rewards or updates. Never input private keys or seed phrases on suspicious sites. When in doubt, manually enter the correct website address.Secure your private keys and seed phrases: Store your private keys and seed phrases offline in a safe, physical location. Never save these credentials on internet-connected devices, or hackers might get access to them, putting your wallet at risk. Verify apps and browser extensions: Take care to install software only from official sources. Research apps beforehand to avoid malicious or fake tools.Monitor wallet activity regularly: Check your wallet for unauthorized transactions or unusual patterns. Early detection can help stop further losses and improve recovery chances. What to do if you suffer from a crypto-drainer attack Swift action is essential if you suspect your crypto wallet has been compromised. Though fund recovery is rare, quick action can limit further losses.Here are the steps you need to take if you suffer from a crypto DaaS attack:Secure your accounts: Immediately change the password for your wallet and enable 2FA, if you still have access to it. Transfer any remaining funds to a secure, uncompromised wallet.Notify your wallet provider or exchange: Report the incident to your wallet provider or exchange. You could request them to monitor your account or freeze suspicious activity. Platforms may flag suspicious addresses or prevent further transfers.File a report with authorities: Contact local law enforcement or cybercrime units, as cryptocurrency theft is treated as a financial crime in most regions.Seek professional assistance: Cybersecurity firms specializing in blockchain forensics can analyze transactions and potentially trace the stolen funds. While full recovery is unlikely, especially if assets pass through mixers or bridges, expert help may aid investigations.

Apple KYC glitch on Bybit draws swift executive response to recover $100K

Cryptocurrency exchange Bybit said it had involved team members, including an executive, to fix a glitch that affected a single user who could not go through an Apple-based know-your-client (KYC) system.In a May 18 X post, the Bybit China Team said it received reports about users experiencing withdrawal restrictions on the Bybit platform due to a KYC verification anomaly when logging in with an Apple ID. The team claimed to have immediately responded and taken action involving multiple departments, including the firm’s chief operating officer, Helen Liu.Other people involved in the operation were the heads of customer service, risk control, the Chinese-language division, product managers and the technical team. The exchange coordinated its actions with the user.After an internal investigation, Bybit concluded this was a “unique case affecting an individual user, not a systemic issue.” The account’s KYC information was not tampered with and the funds in the account remained secure at all times.Bybit had not answered Cointelegraph’s request for comment at the time of writing.Related: A decade-old debate is back as self-custody gets smarterThe perks of media attentionBybit claims to have taken large-scale and timely action, which involved a member of its executive team, all in response to an issue reported by a single user. Chinese-speaking X crypto influencer EnHeng claimed to be the reason for this.In a separate post that Bybit’s X post answers to — EnHeng explained that in a group chat, he noticed “a girl mentioned a bug related to Bybit’s Apple ID.” He verified the issue and after confirming that it was real, flagged it to Bybit.EnHeng said that the staff responded quickly and assisted the user in recovering access to about $100,000 worth of funds. They highlighted:“This incident really made me feel the value of having influence.”EnHeng said “in this market, retail investors often lack a voice and are vulnerable.” For this reason, he said, “When we have more resources and a bigger voice, we should use them to speak up for retail investors.”Related: Self-custody vs. centralized crypto cards: Freedom or convenience?Locked out of exchangeBeing locked out of a cryptocurrency exchange account or some of its features is not excessively uncommon. Often, it is an emergency measure meant to prevent fund losses.A recent example is Phemex crypto exchange halting withdrawals after being alerted to nearly $30 million worth of suspicious outflows that raised alarms among blockchain security firms in late January. Indian cryptocurrency exchange Mudrex temporarily halted crypto withdrawals during the same month, claiming compliance improvements were the reason.Sometimes action is taken on the request of law enforcement. Last summer, a small set of Palestinian user accounts was frozen after Israeli authorities issued a seizure request. Also last summer, OKX warned it would terminate any account linked to crypto mixer Tornado Cash or sanctioned addresses, and several users said their log-ins were suddenly disabled.Those incidents echo an old adage popular in the Bitcoin (BTC) community: Not your keys, not your coins. This statement is meant to remind Bitcoin — and now crypto — users that real control over assets comes only with control over the private keys that allow for signing transactions.Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

Bitcoin bulls should &#039;be careful with longs&#039; as BTC price risks $100K breakdown

Key takeaways:Bitcoin dropped over 4.5% on May 19, confirming a bearish divergence and threatening a break below $100,000.Analysts highlight $97,000–$98,500 as key support that the bulls must hold. A potential inverse head-and-shoulders pattern points to a retest of $91,000 before any bullish continuation.Bitcoin (BTC) is down over 4.5% from its intraday high on May 19, falling to around $102,000 in its worst daily drop in over a month.BTC/USD daily price chart. Source: TradingViewBTC’s drop accompanied downside moves elsewhere in the risk market, prompted by Moody’s latest downgrade of the US government due to a rising budget deficit and the lack of a credible fiscal consolidation plan.The decline confirms a bearish divergence and, combined with other technical factors, raises the risk of a BTC price breakdown below $100,000, a key support level.Bitcoin’s bearish divergence hints at sub-$100KBitcoin’s price action showed technical weakness ahead of its May 19 sell-off. On May 19, BTC pushed to a new local high above $107,000, but its relative strength index (RSI) printed a lower high, confirming a classic bearish divergence. Source: BluntzThis discrepancy between price and momentum is often a precursor to a trend reversal, and in this case, it played out with a swift 4.5% intraday decline. Analyst Bluntz warned traders to “be careful with [placing] longs.”Swissblock analysts observed that Bitcoin “grabbed liquidity” above the $104,000–$106,000 resistance range but failed to sustain a breakout. Bitcoin’s price vs. BTC onchain and trading volume. Source: SwissblockThe rejection pushed the price back into a prior volume-heavy zone, with immediate support between $101,500 and $102,500 now under pressure. Swissblock identifies the $97,000–$98,500 range as a key downside target based on historical onchain volume and trading activity if the $101,500-102,500 area fails to hold.Bitcoin’s H&S pattern targets $91,000On the three-day chart, Bitcoin is forming the right shoulder of a potential inverse-head-and-shoulders pattern. While typically bullish in the long term, this setup implies a short-term retest of the 50-period exponential moving average (50-period EMA; the red wave) near $91,000. BTC/USD three-day price chart. Source: TradingViewThe chances of such a drop have increased since BTC failed to close above the critical $107,000 neckline level, the same zone that triggered bearish reversals in December 2024 and January 2025.Related: Metaplanet scoops 1,004 Bitcoin in 2nd-biggest buy everA rebound from the $91,000 zone toward the neckline at around $107,000 could increase Bitcoin’s odds of rising toward $150,000.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bulls and Bears Get Caught off Guard as Bitcoin Jumps to $106K, Then Falls Back to $103K

Vitalik Buterin proposes partially stateless nodes for Ethereum scaling

Ethereum co-founder Vitalik Buterin unveiled a proposal to preserve trustless, censorship-resistant access to Ethereum, even as the network scales. On May 19, Buterin shared a post outlining how to make Ethereum's layer-1 scaling “more friendly” to users running local nodes for personal use. The Ethereum co-founder highlighted the importance of independent users running nodes, saying that a market dominated by a few Remote Procedure Call (RPC) providers risks censorship. RPC providers let wallets, users and apps interact with the blockchain without running their own nodes. Crypto wallets are usually connected to an RPC provider behind the scenes. Buterin believes there are risks to this setup. “A market structure dominated by a few RPC providers is one that will face strong pressure to deplatform or censor users. Many RPC providers already exclude entire countries,” Buterin wrote. Source: Vitalik ButerinVitalik Buterin proposes partially stateless nodes In addition to censorship, Buterin argued that reasons like expensive fully-trustless cryptographic solutions and metadata privacy show that there’s value in ensuring greater ease for those running a personal node. In the proposal, Buterin's solution relies on a novel type of node called “partially stateless nodes.” These nodes are designed to help users maintain privacy-preserving access to blockchain data without the heavy resource demands of running a full node. As Ethereum scales and the gas limit increases, running a full node requires more storage and bandwidth. Buterin said partially stateless nodes address the issue by allowing users to verify the blockchain and serve local data, but only store a subset of the Ethereum state, based on the user’s needs.Vitalik Buterin’s graphic of partially stateless nodes. Source: Vitalik ButerinRelated: Ethereum Foundation unveils security initiative to supplant legacy systemsA new node type to validate blocks “statelessly”The nodes would operate by validating blocks statelessly. This means they don't require the storage of the full Merkle proofs or the entire blockchain history. They can selectively keep certain parts of the state up to date. This means that users could configure their nodes only to save data related to their accounts, the decentralized finance (DeFi) applications, and their commonly used tokens like stablecoins and Ether (ETH). The rest of the data will be left out, and queries beyond the stored subset will fail or be routed through an RPC solution. Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

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How to read a Bitcoin liquidation map (without getting liquidated)

Understanding a Bitcoin liquidation map is imperative in dealing with the inherent volatility of the crypto market. The visual tool showcases probable liquidation levels, indicating where large orders may cause cascading price changes. This post explores how to interpret a Bitcoin liquidation map, allowing you to trade smarter in the volatile world of cryptocurrency.What is liquidation in crypto trading?In cryptocurrency trading, liquidation happens when an exchange forcefully closes a trader's leveraged position due to insufficient margin to pay losses. This usually occurs when the market moves sharply against the position. Long liquidations occur when prices fall, affecting traders who bet on an uptrend. Short liquidations happen when prices unexpectedly rise, impacting those who bet on a decline. Did you know? In crypto, a single liquidation cascade can wipe out millions in minutes, triggered not by hacking but by traders using too much leverage at the wrong time.What is a Bitcoin liquidation map?A Bitcoin liquidation map is a visual heatmap indicating price levels where large liquidations are expected to occur. These maps assist traders in identifying zones where leveraged positions may be closed forcibly if prices fluctuate sharply. Tools like CoinGlass provide real-time Bitcoin (BTC) liquidation maps, valuable resources for risk-aware traders. With the liquidation map, you canUse breakout trading strategies for profitable scalping opportunities.Set stop-loss levels based on key liquidation zones for better risk management.Target high-liquidity areas to secure profits efficiently.Enter large trades near liquidity clusters to minimize slippage and enhance execution.Analyze the gradient of liquidation intensity to anticipate potential price movements..Functioning of a liquidation map and key components The X-axis of the liquidation chart represents the bid price, while the Y-axis denotes the relative strength of liquidation activity. Each column on the graphic illustrates a liquidation cluster's relative significance compared to other clusters.The chart demonstrates how the market will respond if the price reaches certain thresholds. Taller liquidation bars indicate a higher potential impact. The various hues are solely for visual clarity, allowing users to distinguish between distinct liquidation zones.Here are the main components of a liquidation map:Heat zones: Indicate where most positions could be eliminated if the price reaches specific levels.Liquidity pools: Collections of stop-loss and liquidation orders that can cause rapid price movements.Open interest levels: Demonstrate where large amounts of leveraged positions are concentrated.Price imbalances or gaps: Disclose areas without support or resistance, allowing prices to move swiftly.Did you know? Crypto liquidations often follow the herd; when too many traders place similar bets, liquidation maps light up and whales use them as price targets.How to use a liquidation map in your Bitcoin trading strategyA Bitcoin liquidation map provides insights into probable price movements and risk zones by visually representing places where leveraged positions will likely be closed. Here is how to use a liquidation map in Bitcoin trading:Identify high-risk zones: Identify places with dense liquidation clusters to avoid overleveraging. These areas come across as magnets, attracting price changes that might cause a series of liquidations.Time entry and exit: Liquidation clusters help find the optimal entry and exit points. Entering and exiting trades before a cluster becomes risky helps you lock in profits before reversals.Combine with technical indicators: Enhance your research by combining liquidation maps with tools such as support/resistance levels and relative strength index (RSI). This sets out a comprehensive view of market conditions.Avoid herd mentality: Exercise caution in places with high leverage concentrations. Such zones may be traps constructed by larger players to induce liquidations and profit from the resulting volatility.Monitor whale activity: Large traders frequently target liquidation zones to turn price moves to their advantage. Observing these patterns can provide insights about prospective market movements.Anticipate reversals: Markets frequently experience reversals following large liquidation events. Recognizing these trends can aid in positioning for possible rebounds.Implement robust risk management: Use stop-loss orders and handle leverage carefully. Liquidation maps can help you determine where to put these orders to minimize exposure.Common mistakes to avoid when using the Bitcoin liquidation mapUsing a Bitcoin liquidation map can enhance trading decisions, but misinterpretation can lead to costly errors. Here are common mistakes you need to avoid:Blindly trading toward liquidity zones: If you are trading toward liquidity zones without thinking, expect reversals.Misreading map colors or scale: Making a mistake in judging map colors or scale can skew your risk assessment.Over-relying on liquidation data without context: Maps are valuable tools, not an assurance that what they reflect will happen.Ignoring macro news or sentiment analysis: External events often override technical signals. A sudden event may make all predictions fall flat.Always combine liquidation maps with broader technical analysis. Smart trading requires context, not just colorful charts.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Metaplanet Buys Another 1,004 Bitcoin, Lifts Holdings to Over $800M Worth of BTC

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Metaplanet scoops 1,004 Bitcoin in 2nd-biggest buy ever

Japanese investment firm Metaplanet has made its second-largest single Bitcoin purchase ever, scooping up more than 1,000 Bitcoin as the cryptocurrency came within 3% of its all-time high.Metaplanet said on May 19 that it purchased 1,004 Bitcoin (BTC) for a total cost of around 15.2 billion yen ($104.6 million), bringing its total holdings to 7,800 Bitcoin worth around $807 million at current market prices.It is the second-largest purchase the firm has made following its buy of 1,241 BTC for $129 million on May 12 in a move that pushed its Bitcoin holdings above that of El Salvador.Metaplanet has the largest Bitcoin holdings of a public company in Asia and has the tenth largest holdings among public firms globally, according to BiTBO data.The firm reported a first-quarter BTC Yield of 95.6% and a yield of 47.8% so far in the second quarter, which measures the ratio of percentage change in Bitcoin holdings per fully diluted share.If Metaplanet buys another 301 BTC, it would surpass Galaxy Digital Holdings, which is in ninth spot with its holdings of 8,100 Bitcoin.Metaplanet Bitcoin purchase disclosure. Source: MetaplanetMichael Saylor’s Strategy remains the clear leader in terms of corporate BTC holdings with 568,840 Bitcoin worth around $59 billion.Related: Metaplanet is raising another $21M through bonds to buy more BitcoinMetaplanet has been much more aggressive in its accumulation of the asset in recent months, with 2,800 scooped up so far in May. It made four purchases in April, totaling 794 BTC, and six purchases in March, totaling 1,655 BTC. Saylor hints at another buyMeanwhile, Michael Saylor has hinted at another Monday purchase by posting a screenshot of the Saylor tracker, which follows the firm’s Bitcoin portfolio, on X. “Never short a man who buys orange ink by the barrel,” Saylor said.Strategy leads the corporate pack with 77% of the growth in Bitcoin holdings so far this year, according to BTC investment firm River.On May 12, River researchers revealed that corporations and businesses are the largest net buyers of Bitcoin so far this year, outpacing exchange-traded funds, governments, and even retail investors. Magazine: Arthur Hayes $1M Bitcoin tip, altcoins ‘powerful rally’ looms: Hodler’s Digest

Coinbase hit with wave of lawsuits over customer data breaches

Coinbase has been hit with a flood of lawsuits after it recently disclosed its user data was breached, with users accusing the crypto exchange of mishandling the incident.At least six lawsuits were filed against Coinbase between May 15 and May 16, which all made various claims that the exchange failed to keep stringent security protocols to protect user data and handled the data breach aftermath poorly.In one of the lawsuits, filed in a New York federal court on May 16, plaintiff Paul Bender argued that Coinbase failed to protect the sensitive personal information of millions of users during the data breach. Users are suing Coinbase, alleging the exchange failed to protect their sensitive data. Source: PACERCoinbase reported on May 15 that four days earlier it had been hit with a $20 million extortion attempt after cybercriminals bribed several of its customer support agents to access internal systems and steal a limited amount of user account data.The stolen data included names, addresses, phone numbers, emails, the last four digits of Social Security numbers, some bank account identifiers, driver’s licenses, passports and some account data, such as balance snapshots and transaction history.Bender claimed that “Coinbase failed to implement and maintain reasonable security safeguards,” which exposed users to “serious and ongoing risks.”The suit also claimed Coinbase’s response to the incident was “inadequate, fragmented, and delayed.”“Users were not promptly or fully informed of the compromise, and Coinbase did not immediately take meaningful steps to mitigate further harm,  provide identity protection services, or offer actionable guidance to affected individuals,” the complaint claimed.The lawsuit claimed users could face “substantial, immediate, and ongoing threat of identity theft and financial fraud” and that the consequences of the breach could be long-term or “potentially permanent” because the compromised information can’t be recovered or made secure once exposed.Flurry of lawsuits make similar allegations Two other lawsuits filed in a New York federal court made similar claims against Coinbase, while a fourth lawsuit added the allegation of unjust enrichment, arguing that Coinbase didn’t spend enough on data security measures.All four complaints ask for damages and other measures to help protect the plaintiff’s sensitive data.Meanwhile, a fifth lawsuit filed in a California federal court on May 15 made similar claims against Coinbase, but asked the court to order Coinbase to purge all sensitive data it holds about the plaintiffs and hire third-party security auditors to test its security systems, among other requests.A Coinbase spokesperson did not comment on the lawsuits and instead pointed Cointelegraph to a blog post it shared regarding the data breaches.Coinbase said it refused to pay the $20 million ransom and has flagged plans to reimburse users tricked into sending crypto to phishing scammers due to the data breach.In a filing with the US Securities and Exchange Commission, the exchange said it expects reimbursement expenses ranging from $180 million to $400 million.Related: Retired artist loses $2M in crypto to Coinbase impersonatorThe exchange also reportedly fired a group of customer support agents based in India following their alleged involvement in social engineering attacks on users.Coinbase (COIN) shares dipped 7% and dropped to $244 after it disclosed the data breach along with an ongoing SEC probe over misstated user numbers in 2021.The stock has since staged a comeback, spiking 9% and hitting $266 by the closing bell on May 16, according to Google Finance. Coinbase has climbed even higher following the data breach. Source: Google Finance Magazine: Arthur Hayes $1M Bitcoin tip, altcoins’ powerful rally’ looms: Hodler’s Digest, May 11 – 17

‘Sats’ vs ‘bits’ debate reignites amid proposal to change Bitcoin base unit

A recent proposal that aims to change Bitcoin’s base unit to make it easier to understand as a payment tool has run into opposition, with critics saying Bitcoin’s satoshis are no more confusing than the dollar’s cents. Bitcoin developer John Carvalho introduced Bitcoin Improvement Proposal-177 on April 23, which seeks to eliminate the concept of satoshis, of which there are 100,000,000 in 1 Bitcoin (BTC), and effectively split Bitcoin’s fixed supply of 21 million into 21 quadrillion units.It follows a 2017 proposal from Bitcoin developer Jimmy Song to create “bits,” representing one-millionth of 1 Bitcoin. However, Carvalho said Song’s approach would still require Bitcoin users to think about decimals and “shifts complexity rather than eliminating it.”Block Inc. CEO Jack Dorsey is among those calling for the change, saying in a May 18 X post that satoshis, or sats, are too confusing for newcomers.“Bits of Bitcoin is better, and just Bitcoin is best,” Dorsey said.Dorsey pointed to a December 2024 discussion on the topic where Stevie Lee, product lead of Bitcoin infrastructure firm Spiral, argued that not enough people know or care about what satoshis are.“Everyone knows Bitcoin, no one knows sats, people just want to send and receive Bitcoin,” Lee said, recalling past conversations where people thought satoshis were an entirely new token, unrelated to Bitcoin.He added that the Bitcoin community shouldn’t be too concerned with the change, as they know the underlying economics of Bitcoin would remain intact.Related: DOJ charges 12 more gamer-turned $263M Bitcoin robbersSwan Bitcoin CEO Cory Klippsten and Byte Federal director of product Michelle Weekley were among those who opposed the change.“People understand cents in a dollar, they will understand sats in a Bitcoin,” Weekley said on X.Magdalena Gronowska, a self-described Bitcoin consultant, claimed that the change could make some people think that Bitcoin abruptly crashed from its current price of around $100,000 and that its “supply has massively inflated.”Zaprite business development lead Parker Lewis argued that sats were easier to understand. Source: Parker LewisBitcoin creator was open to the ideaRobin Linus, the creator of the Bitcoin Virtual Machine (BitVM), highlighted that even Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was open to changing how Bitcoin’s units are displayed for the purpose of usability.“If it gets tiresome working with small numbers, we could change where the display shows the decimal point,” Satoshi said in a February 2010 post before vanishing the following year.“Same amount of money, just different convention,” Satoshi added.Comment from Satoshi Nakamoto about changing Bitcoin’s unit base in February 2010. Source: BitcointalkThe Bitcoin network hasn't implemented any improvement proposals since the Taproot upgrade in November 2021, which aimed to improve Bitcoin’s speed, efficiency and privacy.Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

Binance, Kraken Thwarted Social Engineering Attacks Similar to Coinbase Hack

Coinbase faces lawsuit over alleged breaches of Illinois biometric privacy law

A group of Coinbase users from Illinois have filed a class-action lawsuit against the crypto exchange, alleging that its identity checks violate the state’s Biometric Information Privacy Act (BIPA).Plaintiffs Scott Bernstein, Gina Greeder and James Lonergan claimed in the May 13 lawsuit filed in a federal court that Coinbase’s “wholesale collection” of faceprints for its Know Your Customer requirements violates BIPA, as they weren’t notified.The group claimed Coinbase failed to notify users in writing of the collection, storage, or sharing of their biometric data and the purpose and retention schedule for their data.“Coinbase does not publicly provide a retention schedule or guidelines for permanently destroying Plaintiffs’ biometric identifiers as specified by BIPA,” they alleged. The complaint said Coinbase requires users to verify their identity by uploading a government-issued photo ID and a selfie, which is then sent to a third-party facial recognition software to scan and extract facial geometry. This process captures biometric identifiers without users’ informed written consent, which the suit claimed violates BIPA.Coinbase ID verification procedures. Source: CourtListener Additionally, the group claimed Coinbase violated the law by sharing biometric data without users’ consent to third-party verification vendors such as Jumio, Onfido, Au10tix and Solaris.“Coinbase ‘obtains’ biometric data in violation of [BIPA] because it explicitly directed the Third Party Verification Providers to use its software to verify and authenticate users, including Plaintiffs, and its software does so by collecting biometric data,” the complaint read.The group claimed that more than 10,000 individuals have filed demands for arbitration over these issues with the American Arbitration Association, which Coinbase has allegedly refused to pay the required arbitration fees, causing them to be dismissed.Related: Alabama drops staking lawsuit against CoinbaseThe suit brings three claims of violating state biometric privacy laws and one for consumer fraud under the Illinois Consumer Fraud and Deceptive Business Practices Act.The group is seeking relief of $5,000 per willful or reckless violation found, $1,000 per negligent violation found, along with injunctive relief and litigation costs. Coinbase has also recently been hit with at least six lawsuits over its May 15 disclosure that some of its customer support agents were bribed to leak users' data.Past BIPA violation suit sent to arbitrationIn May 2023, a group of Coinbase users sued the exchange under similar accusations of BIPA violations.A judge later allowed that lawsuit to pause pending arbitration and dismissed the lawsuit without prejudice on Feb. 3 after Coinbase and the group of users agreed to drop the action.Magazine: Arthur Hayes $1M Bitcoin tip, altcoins ‘powerful rally’ looms: Hodler’s Digest

Bitcoin notches record weekly close after highest-ever daily close candle

Bitcoin has notched its highest-ever weekly close as crypto market momentum continues and the cryptocurrency is again nearing its all-time high.Bitcoin (BTC) has closed at a weekly gain for the past six weeks in a row, and its most recent close at midnight UTC on May 18 was its highest weekly close ever at just below $106,500, according to TradingView.Its last highest weekly close was in December when it reached $104,400. It later went on to reach an all-time high of $109,358 on Jan. 20, according to TradingView. Bitcoin is now less than 3% away from its peak price and has gained 2% over the past 24 hours to trade around $104,730 at the time of writing.Bitcoin also posted its highest-ever close in a 24-hour period on May 18. However, this is not the largest daily gain Bitcoin has made.“Bitcoin just had its highest daily candle close... ever,” investor Scott Melker posted to X on May 19. With a daily close above $105,000, “Bitcoin will develop a brand new higher high,” said analyst Rekt Capital.BTC/USD weekly timeframe. Source: TradingViewBitcoin’s weekly gains over the past six weeks are mirroring its gains in November when it added $30,000 in three of its largest weekly candles ever.It has added around $12,000 so far in May, climbing from $94,000 to over $106,000 before it pulled back to around $105,400.Related: BTC price to $116K next? Bitcoin trader sees 'early week' all-time highAdditionally, Arete Capital partner “McKenna” said the Coinbase premium had returned, which measures US sentiment by comparing the difference between Coinbase’s BTC/USD pair and Binance’s BTC/USDT equivalent. The “strength of this bid on a Sunday night feels strange,” they said, adding its “possible someone knows some important news dropping next week.”Bitcoin’s CAGR cools downOn May 18, analyst Willy Woo dived into Bitcoin’s compound annual growth rate (CAGR), noting that it was trending downward as the network continues to store more capital.“BTC is now traded as the newest macro asset in 150 years, it'll continue to absorb capital until it reaches its equilibrium,” he said.Woo compared it to long-term monetary expansion of 5% and GDP growth of 3%, estimating that Bitcoin’s annual growth rate will be around 8% in around 15 to 20 years when it has settled. “Until then, enjoy the ride because almost no publicly investable product can match BTC performance long term, even as BTC's CAGR continues to erode.”Bitcoin annualized growth rate. Source: Willy WooMagazine: Arthur Hayes $1M Bitcoin tip, altcoins ‘powerful rally’ looms: Hodler’s Digest

Australian feds seize mansion, Bitcoin allegedly linked to crypto exchange hack

An Australian man from the state of Queensland has forfeited Bitcoin, a waterfront mansion and a Mercedes-Benz car after Australian Federal Police claimed the assets could be linked to the proceeds of crime.The AFP-led Criminal Assets Confiscation Taskforce (CACT) said in a May 18 statement that it seized nearly 25 Bitcoin (BTC), alongside the mansion and car, which are together worth a total of 4.5 million Australian dollars ($2.88 million).The AFP said its investigation began in September 2018 after law enforcement in Luxembourg shared information about suspicious Bitcoin transactions that the agency claimed were connected to the Queensland man previously convicted of hacking a US gaming company.A waterfront mansion in Queensland was confiscated under the allegation that it's linked to the theft of 950 Bitcoin. Source: Australian Federal PoliceThe AFP claimed its investigation also linked the man to the theft of 950 Bitcoin stolen from a French crypto exchange in 2013.No criminal charges were laid over the Bitcoin theft; however, the AFP obtained a court forfeiture order of the property, car and Bitcoin in April under the claim that they could not be linked with “identifiable legitimate earnings.”AFP uses “unique powers” to seize assetsLocal media outlet 7NEWS reported that the owner of the confiscated assets is Shane Stephen Duffy, who pleaded guilty to fraud and computer hacking in 2016 for selling the personal data of League of Legends players.A cyberattack on League of Legends developer Riot Games in 2011 saw hackers obtain the details of more than 5 million users; Duffy was not accused of being involved in the hack, with prosecutors saying he got a copy of the data online and sold it for profit.Duffy was also accused of hacking the X account of Riot Games president Marc Merrill to publicize his data-selling business, which offered to sell access to the accounts of other League of Legends players. Related: Aussies lost $122 million to crypto scams in the last 12 months: AFPAFP Commander Jason Kennedy said in a statement that the agency has “unique powers” under the Proceeds of Crime Act to “restrain and forfeit” assets it suspects to be proceeds of crime, including cybercrime.Source: Australian Federal Police“The profits derived from criminal activities are also often used to fund further criminal acts, which is why the AFP works closely with our partners in the CACT to target the proceeds of crime and ensure they are reinvested in the community,” he said. The proceeds from selling the assets will be sent to a special purpose fund that supports crime prevention and law enforcement-related measures, the AFP said. Since July 2019, the CACT has used its power to restrain over $1.2 billion in assets, including houses, cars, yachts, crypto and fine art.Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Russia arrests Blum co-founder Vladimir Smerkis on fraud charges

Vladimir Smerkis, a co-founder of the Telegram-based crypto project Blum, has reportedly been arrested in Moscow, Russia, on fraud allegations, amid Blum confirming he is no longer affiliated with the project.The Zamoskvoretsky District Court of Moscow approved a request from investigators to keep Smerkis in custody while he is being investigated, Russian state-owned news outlet TASS reported on May 18.Smerkis — who previously ran operations for Binance in Russia — is suspected of committing fraud on a “large scale,” pursuant to Article 159 of the Criminal Code of the Russian Federation, violations of which can result in imprisonment ranging from two to 12 years.It isn’t clear if charges have been filed against Smerkis.Russian news outlet Mash tied the fraud allegations against Smerkis to his involvement in The Token Fund and Tokenbox crypto ventures that he co-founded in 2017, where investors reportedly suffered combined losses of around $15 million.Blum, which is not involved in The Token Fund and Tokenbox ventures, wrote to X on May 18 that Smerkis resigned from his role as the firm’s chief marketing officer and would no longer be involved in the project in any capacity.Source: BlumBlum said its team remains fully committed and focused on its goals and that its day-to-day operations would continue as usual.Blum is a crypto project that integrates a decentralized exchange into Telegram Mini Apps, enabling users to trade crypto, earn rewards and participate in token airdrops.No Smerkis, no BLUM token?The incident sparked concerns that Blum’s token airdrop won’t follow through as planned. In an April 3 X post, Blum hinted at a potential BLUM token listing in the third quarter of this year.Blum users could receive BLUM tokens by earning Blum points in its newly launched Drop Game, where users tap on snowflakes falling from their mobile phone screen, and convert those points into tokens during the project’s slated token generation event.Related: Pavel Durov rejects EU pressure to censor Romanian election contentHowever, the news of Smerkis’ arrest appears to have shaken community confidence that the BLUM token airdrop will happen.“Blum owes its users a clarification on the planned airdrop,” one X user and Blum community member said, while crypto influencer RK Gupta added:“No airdrop. No updates. Just silence. Was it all for nothing?”Magazine: Pranksy: Inside the anonymous life of an NFT legend — NFT Collector

Bitcoin impulse move toward new highs sets a fire under HYPE, ETH, XMR and AAVE

Key points:Bitcoin’s rally to $105,980 has traders predicting new all-time highs this week. Traders lift their end-of-year Bitcoin price targets to $200,000 based on technical factors and institutional investor adoption. Bitcoin (BTC) has been stuck in a narrow range for the past few days, but the rally above $105,500 on May 18 increases the possibility of an upside breakout. Popular trader Alan said in a post on X that Bitcoin could soar to $116,000 early next week.Another bullish voice was that of Bitwise chief investment officer Matt Hougan. While speaking to Cointelegraph, Hougan said that a supply shock due to increased institutional demand could propel Bitcoin to $200,000 by the end of 2025. He expects seller exhaustion to occur at the $100,000 level.Crypto market data daily view. Source: Coin360Although Bitcoin remains strong, select analysts are shifting their focus to altcoins as they believe an altcoin season could be around the corner. Crypto analyst Javon Marks said in a post on X that altcoins, excluding Ether (ETH), could “deliver one of their most powerful runs since 2017!”Could Bitcoin and altcoins continue their move higher? Let’s look at the cryptocurrencies that are showing strength on the charts.Bitcoin price predictionBitcoin remains stuck in a range, but the bulls are trying to overcome the overhead resistance at $105,820.BTC/USDT daily chart. Source: Cointelegraph/TradingViewBoth moving averages are sloping up, and the relative strength index (RSI) is in the overbought zone, signaling that the buyers hold the edge. A break and close above $105,820 increases the likelihood of a retest of the $109,588 level. Sellers will try to defend the $109,588 resistance, but if the bulls prevail, the BTC/USDT pair could skyrocket to $130,000. Alternatively, a sharp drop below $100,000 signals that the bears have seized control. That may tempt several short-term bulls to book profits, pulling the pair toward the 50-day simple moving average ($91,447).BTC/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair has broken out of the symmetrical triangle pattern on the 4-hour chart, indicating that buyers are in control. There is resistance at $105,820, but it is likely to be crossed. If that happens, the pair could march toward the all-time high of $109,588 and thereafter to the pattern target of $110,922.Sellers are likely to have other plans. They will try to pull the price back into the triangle. If that happens, the aggressive bulls may get trapped, pulling the pair to $100,000. If this level also cracks, the drop could extend to the target objective of $95,616.Ether price predictionEther dipped back below the breakout level of $2,550, but the bears are struggling to sustain the lower levels.ETH/USDT daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day exponential moving average ($2,275) and the RSI near the overbought zone suggest the path of least resistance is to the upside. If the price closes above $2,550, the bulls will try to strengthen their position by pushing the ETH/USDT pair above $2,739. If they manage to do that, the pair could surge toward $3,000.The first sign of weakness will be a break below the $2,400 level. That could pull the pair to the 20-day EMA, which is a critical level to watch out for. A break below the 20-day EMA suggests the bulls are losing their grip.ETH/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe bulls pushed the price above the moving averages, indicating demand at lower levels. If buyers pierce the downtrend line, the up move could reach $2,739. A break and close above $2,739 could resume the uptrend.Contrary to this assumption, if the price turns down from the downtrend line and breaks below $2,400, it signals that the bulls are rushing to the exit. That could start a deeper correction to $2,270 and then to $2,111. Hyperliquid price predictionHyperliquid (HYPE) is facing resistance at $28.50, but a positive sign is that the bulls have not ceded much ground to the bears.HYPE/USDT daily chart. Source: Cointelegraph/TradingViewThe upsloping moving averages and the RSI in the overbought zone indicate that the buyers are in command. A break and close above $28.50 could catapult the HYPE/USDT pair toward $35.73.If the price turns down sharply from $28.50, it signals that the bears are aggressively defending the level. The pair could then slide to the 20-day EMA ($23.52), which is likely to attract buyers. If the price rebounds off the 20-day EMA, the bulls will strive to clear the overhead resistance. HYPE/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair is finding support at the 50-SMA on the 4-hour chart, indicating buying on dips. The bulls will try to strengthen their position by pushing the price above the $28.50 level. If they do that, the pair could rally to $31.33.Instead, if the price turns down and breaks below the 50-SMA, it implies that the bulls are booking profits in a hurry. That could sink the pair to $24 and later to the solid support at $23.Related: Here’s what happened in crypto todayMonero price predictionMonero (XMR) rallied sharply to $353 on May 12 from $262 on May 4, indicating aggressive buying by the bulls.XMR/USDT daily chart. Source: Cointelegraph/TradingViewThe shallow pullback of the past few days shows that the bulls are hanging onto their positions as they anticipate another leg higher. If the price continues higher and breaks above $353, the XMR/USDT pair could skyrocket to $391 and then to the target objective of $422.The immediate support on the downside is at $331. A break and close below $331 could pull the pair down to the 20-day EMA ($308). If the price rebounds off the 20-day EMA, the bulls will again try to resume the uptrend.XMR/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair is finding support at the 50-SMA, but the bulls are struggling to push the price above the overhead resistance at $353. If the price turns down and breaks below the 50-SMA, the pair could start a deeper correction to $317 and then to $300.On the contrary, a break and close above $353 signals the resumption of the uptrend. The pair could march toward $391, where the bears are expected to step in.Aave price predictionAave (AAVE) is facing resistance at the $240 level, but a positive sign is that the bulls have not allowed the price to dip to the 20-day EMA ($206). That suggests buying on every minor dip.AAVE/USDT daily chart. Source: Cointelegraph/TradingViewIf the price closes above $240, the AAVE/USDT pair could start the next leg of the up move. The pair could rise to $280, which may act as a resistance, but if the bulls persist, the next stop could be $300.Sellers will have to drag the price below the 20-day EMA to prevent the upside. If they can pull it off, the pair could tumble to the crucial support at $196. Buyers are expected to vigorously defend the $196 level.AAVE/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair has been consolidating between $217 and $240 for some time. The 20-EMA has started to turn up, and the RSI has risen into the positive zone, signaling an advantage to buyers. A break and close above $240 could drive the pair to $267.On the other hand, if the price turns down from $240, it suggests that the bears are fiercely defending the level. That could keep the pair stuck between $240 and $217 for some time. Sellers will have to tug the price below $217 to signal a comeback.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Tornado Cash dev&#039;s attorneys say prosecutors hid exculpatory evidence

Attorneys for Tornado Cash developer Roman Storm filed a motion asking the court to reconsider the motion to dismiss the case due to the prosecution withholding exculpatory evidence in the form of communications with the Financial Crimes Enforcement Network (FinCEN) dating back to 2023.According to a May 16 letter from Storm's attorneys to Judge Katherine Polk Failla, the FinCEN documents show that non-custodial crypto mixers do not fall under the legal definition of a "money transmitting business" and that prosecutors have known this since at least 2023.Despite having knowledge of the FinCEN guidance on crypto mixers, state prosecutors still proceeded with cases against the Samourai Wallet developers and Tornado Cash, the attorneys alleged.Letter sent by Roman Storm’s attorneys to Judge Failla. Source: Court ListenerUS prosecutors denied they withheld the evidence, claiming they submitted the FinCEN communications within the stipulated timeframe to produce the documents for the defense and the court during legal discovery.Storm's defense cited the same legal documents and the same argument the Samourai Wallet developer’s attorneys posed to the court in a May 5 legal letter. Storm's attorneys wrote:"The disclosures in the Samourai case reveal that the government, at the very least, played fast and loose and, at worst, affirmatively misled this Court with its arguments about FinCEN guidance when responding to the motions to dismiss and to compel discovery."The letter went on to argue that although the government continues to claim that the cases bear only "superficial similarities" to each other, they share the core characteristics of cryptocurrency mixers under the law, thus making the FinCEN documents salient to dismissing the case against Storm.The 2023 communications between US prosecutors and FinCEN. Source: Court ListenerRelated: Crypto group asks Trump to end prosecution of crypto devs, Roman StormRoman Storm's trial moves ahead despite sanctions against Tornado ruled unlawfulFederal Judge Robert Pitman issued a ruling on April 28 denying the Office of Foreign Assets Control (OFAC) the ability to reimpose sanctions on Tornado Cash — setting a legal precedent for non-custodial mixer cases.Despite this, US federal prosecutors still moved ahead with the case against Storm although the charges have been modified.Magazine: Tornado Cash 2.0: The race to build safe and legal coin mixers

Pavel Durov rejects EU pressure to censor Romanian election content

Telegram founder Pavel Durov said he rejected pressure from a European Union (EU) country to censor political content on the social media platform ahead of the May 18 presidential elections in Romania.According to Durov, a Western European government, which he hinted at with a baguette emoji, approached the platform and requested it censor conservative voices, which he flatly denied. Durov wrote in a May 18 Telegram post:"You can't 'defend democracy' by destroying democracy. You can’t 'fight election interference' by interfering with elections. You either have freedom of speech and fair elections — or you don’t. And the Romanian people deserve both."The Telegram founder is an ardent defender of free speech, who is highly regarded in the crypto community for his stances on freedom of expression, autonomy, privacy, and individual liberty.Source: Pavel DurovRelated: Pavel Durov says Telegram would exit markets before betraying usersDurov thrust into the spotlight following arrest in FrancePavel Durov was arrested in France in August 2024, sparking widespread condemnation from the crypto community and free speech advocates worldwide, who accused the French government of orchestrating a politically-motivated arrest.French President Emmanuel Macron denied the arrest was political while claiming the French government was "committed to freedom of expression and communication" in an August 26 X post."You can't keep founders personally liable, and charge them up to 20 years, for not moderating speech, and at the same time claim you are deeply committed to freedom of expression," Helius Labs CEO Mert Mumtaz wrote in response to Macron.Shortly after Durov's arrest, Chris Pavlovski, the CEO of Rumble — a free speech online video platform — announced that he safely departed the European Union after France threatened Rumble.The CEO also criticized the French government for the arrest of the Telegram co-founder, characterizing it as an attempt to pressure him into censoring speech on the platform.Durov maintains that Telegram complies with lawful information requests made by law enforcement officials and said that the company has a legal representative in France who handles such requests.The Telegram co-founder also criticized the French government for bypassing the legal representative and choosing to issue an arrest warrant instead.Magazine: Did Telegram’s Pavel Durov commit a crime? Crypto lawyers weigh in

Pavel Durov rejects EU pressure to censor Romanian election content

Telegram founder Pavel Durov said he rejected pressure from a European Union (EU) country to censor political content on the social media platform ahead of the May 18 presidential elections in Romania.According to Durov, a Western European government, which he hinted at with a baguette emoji, approached the platform and requested it censor conservative voices, which he flatly denied. Durov wrote in a May 18 Telegram post:"You can't 'defend democracy' by destroying democracy. You can’t 'fight election interference' by interfering with elections. You either have freedom of speech and fair elections — or you don’t. And the Romanian people deserve both."The Telegram founder is an ardent defender of free speech, who is highly regarded in the crypto community for his stances on freedom of expression, autonomy, privacy, and individual liberty.Source: Pavel DurovRelated: Pavel Durov says Telegram would exit markets before betraying usersDurov thrust into the spotlight following arrest in FrancePavel Durov was arrested in France in August 2024, sparking widespread condemnation from the crypto community and free speech advocates worldwide, who accused the French government of orchestrating a politically-motivated arrest.French President Emmanuel Macron denied the arrest was political while claiming the French government was "committed to freedom of expression and communication" in an August 26 X post."You can't keep founders personally liable, and charge them up to 20 years, for not moderating speech, and at the same time claim you are deeply committed to freedom of expression," Helius Labs CEO Mert Mumtaz wrote in response to Macron.Shortly after Durov's arrest, Chris Pavlovski, the CEO of Rumble — a free speech online video platform — announced that he safely departed the European Union after France threatened Rumble.The CEO also criticized the French government for the arrest of the Telegram co-founder, characterizing it as an attempt to pressure him into censoring speech on the platform.Durov maintains that Telegram complies with lawful information requests made by law enforcement officials and said that the company has a legal representative in France who handles such requests.The Telegram co-founder also criticized the French government for bypassing the legal representative and choosing to issue an arrest warrant instead.Magazine: Did Telegram’s Pavel Durov commit a crime? Crypto lawyers weigh in

Bitcoin Nears Golden Cross Weeks After 'Trapping Bears' as U.S. Debt Concerns Mount

Crypto execs beef up security following string of kidnappings: Report

Crypto industry executives are beefing up personal security and demanding more bodyguard services in response to a recent string of kidnapping and ransom attempts worldwide — particularly in France — targeting investors and professionals in the sector.According to a Bloomberg report, Infinite Risks International, a private security firm based in Amsterdam, Netherlands, is seeing more inquiries into bodyguard services and more long-term clients signing up for a private security detail.Additionally, French law enforcement officials recently announced enhanced security measures for crypto entrepreneurs and investors, following at least three separate kidnapping incidents so far in 2025.The measures include security briefings and expedited access to police lines in the case of emergencies for the entrepreneurs and their families.French law enforcement authorities also advised crypto investors not to advertise their wealth or wear crypto-branded clothing, lessening their chances of becoming targets. The disturbing string of incidents highlights the need for proactive safety measures and vigilance for crypto investors and industry professionals.Related: Violent crypto robberies on the rise: Six attacks that targeted investorsRecent string of kidnappings and ransom attempts impacts FranceDavid Balland, the co-founder of hardware wallet company Ledger, was kidnapped in January 2025 and held for ransom for several days before being rescued by French police.In May 2024, the father of an unnamed crypto entrepreneur was freed from a ransom attempt after French law enforcement officials raided the location in a Paris suburb where the individual was being held hostage by organized criminals.According to Le Parisien, the suspects severed one of the victim's fingers — bearing a disturbing similarity to other crypto-related kidnapping cases in France where the victim was mutilated by the suspects.Masked assailants attempt to abduct the family of Pierre Noizat, co-founder of French crypto exchange Paymium. Source: Le FigaroShortly after, On May 13, the family of Pierre Noizat, the co-founder and CEO of French crypto exchange Paymium, was targeted in an attempted kidnapping.Several masked assailants physically assaulted the family on the street and attempted to force Noizat's daughter and grandson into a van in broad daylight.The daughter and another pedestrian managed to fight off the attackers and force them into retreat, preventing the family from being abducted.The high visibility and brazenness of the crime sent shockwaves through the crypto world, leading French interior minister Bruno Retailleau to call for a meeting with industry executives to discuss the incidents and propose enhanced security measures for at-risk crypto professionals and high net worth investors.Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express

Crypto execs beef up security following string of kidnappings: Report

Crypto industry executives are beefing up personal security and demanding more bodyguard services in response to a recent string of kidnapping and ransom attempts worldwide — particularly in France — targeting investors and professionals in the sector.According to a Bloomberg report, Infinite Risks International, a private security firm based in Amsterdam, Netherlands, is seeing more inquiries into bodyguard services and more long-term clients signing up for a private security detail.Additionally, French law enforcement officials recently announced enhanced security measures for crypto entrepreneurs and investors, following at least three separate kidnapping incidents so far in 2025.The measures include security briefings and expedited access to police lines in the case of emergencies for the entrepreneurs and their families.French law enforcement authorities also advised crypto investors not to advertise their wealth or wear crypto-branded clothing, lessening their chances of becoming targets. The disturbing string of incidents highlights the need for proactive safety measures and vigilance for crypto investors and industry professionals.Related: Violent crypto robberies on the rise: Six attacks that targeted investorsRecent string of kidnappings and ransom attempts impacts FranceDavid Balland, the co-founder of hardware wallet company Ledger, was kidnapped in January 2025 and held for ransom for several days before being rescued by French police.In May 2024, the father of an unnamed crypto entrepreneur was freed from a ransom attempt after French law enforcement officials raided the location in a Paris suburb where the individual was being held hostage by organized criminals.According to Le Parisien, the suspects severed one of the victim's fingers — bearing a disturbing similarity to other crypto-related kidnapping cases in France where the victim was mutilated by the suspects.Masked assailants attempt to abduct the family of Pierre Noizat, co-founder of French crypto exchange Paymium. Source: Le FigaroShortly after, On May 13, the family of Pierre Noizat, the co-founder and CEO of French crypto exchange Paymium, was targeted in an attempted kidnapping.Several masked assailants physically assaulted the family on the street and attempted to force Noizat's daughter and grandson into a van in broad daylight.The daughter and another pedestrian managed to fight off the attackers and force them into retreat, preventing the family from being abducted.The high visibility and brazenness of the crime sent shockwaves through the crypto world, leading French interior minister Bruno Retailleau to call for a meeting with industry executives to discuss the incidents and propose enhanced security measures for at-risk crypto professionals and high net worth investors.Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express

Ethereum back to $3K in May? Latest rebound says ETH price &#039;still has more gas&#039;

Key points:Ether price rose 3% to $2,550 on May 18, triggering $22 million in short ETH liquidations.A bull flag on the chart suggests a $3,700 target, with analysts predicting Bitcoin’s price to go as high as $5,000 in May.Ether’s (ETH) price was up on May 18, rising more than 2.5% over the last 24 hours to trade at $2,536. This recovery reinforces the optimism among traders that ETH price could hit $3,000 in May, citing strong technicals.Ether wipes out $7.5 million shorts in an hourData from Cointelegraph Markets Pro and Bitsamp shows that ETH rose by more than 4.5% to an intraday high of $2,551 on May 18 from a low of $2,440 the previous day.ETH/USD daily chart. Source: Cointelegraph/TradingViewAccompanying Ether’s losses today are significant liquidations across the crypto market. According to data from CoinGlass, more than $158 million leveraged crypto positions have been liquidated over the last 24 hours, with $95 million representing long liquidations.Short Ether liquidations amounted to $22.25 million, with the $7.5 million being wiped out in the last hour alone.Total liquidations across the crypto market. Source: CoinGlassThis means that short traders were caught off guard by Ether’s return to $2,500. Additional CoinGlass data showed several bands of seller interest above the spot price, with ask orders worth over $384 million building up all the way up to $3,000. This suggested that the ongoing recovery might be capped at this level.ETH liquidation heatmap. Source: CoinGlassIs Ether’s recovery back?Market analysts believe Ether’s recent drop was a technical correction to retest key support levels before continuing its uptrend toward $3,000 and beyond. Titan of Crypto said that the weekly Stochastic RSI’s value at 79 suggests that ETH “still has more gas in the tank” to move higher.#Ethereum might still have more gas in the tank ⛽️The weekly Stochastic RSI suggests there's still room before reaching extreme overbought territory, possibly a few more weeks to go. #ETH pic.twitter.com/atCm93napO— Titan of Crypto (@Washigorira) May 17, 2025Ether’s downside may be capped at $2,400, according to pseudonymous analyst Chimp of the North. The analyst shared a chart suggesting that the altcoin could continue its retracement to retest $2,400 support before launching another rally toward the $3,000-$3,300 range.ETH/USD chart. Source: Chimp of the NorthFellow analyst Crypto Patel projected a deeper retracement for Ether, saying that ETH price could potentially drop $1,800 before launching a move higher.“This area is a high-probability zone for bullish re-entry if price shows support,” the analyst wrote as part of a May 17 post of X, adding:“If demand holds here, the next leg up toward $4,000–$5,000 could follow.”ETH/USD daily chart. Source: Crypto PatelAs Cointelegraph reported, ETH could hit new all-time highs around $5,000, fueled by AI adoption, spot ETF inflows, and the latest improvements through the Pectra upgrade.Related: Price predictions 5/16: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAXEther price bull flag is still in playFrom a technical perspective, ETH price is still trading above a bull flag pattern in the four-hour timeframe, a bullish setup that forms after the price consolidates inside a down-sloping range following a sharp price rise.The bull flag was confirmed on May 13 when the price broke above the upper trendline at $2,550. Ether is now retesting the upper boundary of the flag, currently at $2,470, which is acting as immediate support. A daily candlestick close above this level could see the asset resume its uptrend toward the technical target of the bull flag at $3,720, up 50% from the current price.ETH/USD four-hour chart. Source: Cointelegraph/TradingViewConversely, the RSI has dropped from 60 to 42 over the last 24 hours, suggesting that the ongoing correction may continue if profit-taking intensifies. A daily candlestick close below the support level at $2,470 will increase the chances of a price drop to $2,400 and then to the flag’s lower boundary at $2,300. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Ethereum back to $3K in May? Latest rebound says ETH price &#039;still has more gas&#039;

Key points:Ether price rose 3% to $2,550 on May 18, triggering $22 million in short ETH liquidations.A bull flag on the chart suggests a $3,700 target, with analysts predicting Bitcoin’s price to go as high as $5,000 in May.Ether’s (ETH) price was up on May 18, rising more than 2.5% over the last 24 hours to trade at $2,536. This recovery reinforces the optimism among traders that ETH price could hit $3,000 in May, citing strong technicals.Ether wipes out $7.5 million shorts in an hourData from Cointelegraph Markets Pro and Bitsamp shows that ETH rose by more than 4.5% to an intraday high of $2,551 on May 18 from a low of $2,440 the previous day.ETH/USD daily chart. Source: Cointelegraph/TradingViewAccompanying Ether’s losses today are significant liquidations across the crypto market. According to data from CoinGlass, more than $158 million leveraged crypto positions have been liquidated over the last 24 hours, with $95 million representing long liquidations.Short Ether liquidations amounted to $22.25 million, with the $7.5 million being wiped out in the last hour alone.Total liquidations across the crypto market. Source: CoinGlassThis means that short traders were caught off guard by Ether’s return to $2,500. Additional CoinGlass data showed several bands of seller interest above the spot price, with ask orders worth over $384 million building up all the way up to $3,000. This suggested that the ongoing recovery might be capped at this level.ETH liquidation heatmap. Source: CoinGlassIs Ether’s recovery back?Market analysts believe Ether’s recent drop was a technical correction to retest key support levels before continuing its uptrend toward $3,000 and beyond. Titan of Crypto said that the weekly Stochastic RSI’s value at 79 suggests that ETH “still has more gas in the tank” to move higher.#Ethereum might still have more gas in the tank ⛽️The weekly Stochastic RSI suggests there's still room before reaching extreme overbought territory, possibly a few more weeks to go. #ETH pic.twitter.com/atCm93napO— Titan of Crypto (@Washigorira) May 17, 2025Ether’s downside may be capped at $2,400, according to pseudonymous analyst Chimp of the North. The analyst shared a chart suggesting that the altcoin could continue its retracement to retest $2,400 support before launching another rally toward the $3,000-$3,300 range.ETH/USD chart. Source: Chimp of the NorthFellow analyst Crypto Patel projected a deeper retracement for Ether, saying that ETH price could potentially drop $1,800 before launching a move higher.“This area is a high-probability zone for bullish re-entry if price shows support,” the analyst wrote as part of a May 17 post of X, adding:“If demand holds here, the next leg up toward $4,000–$5,000 could follow.”ETH/USD daily chart. Source: Crypto PatelAs Cointelegraph reported, ETH could hit new all-time highs around $5,000, fueled by AI adoption, spot ETF inflows, and the latest improvements through the Pectra upgrade.Related: Price predictions 5/16: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAXEther price bull flag is still in playFrom a technical perspective, ETH price is still trading above a bull flag pattern in the four-hour timeframe, a bullish setup that forms after the price consolidates inside a down-sloping range following a sharp price rise.The bull flag was confirmed on May 13 when the price broke above the upper trendline at $2,550. Ether is now retesting the upper boundary of the flag, currently at $2,470, which is acting as immediate support. A daily candlestick close above this level could see the asset resume its uptrend toward the technical target of the bull flag at $3,720, up 50% from the current price.ETH/USD four-hour chart. Source: Cointelegraph/TradingViewConversely, the RSI has dropped from 60 to 42 over the last 24 hours, suggesting that the ongoing correction may continue if profit-taking intensifies. A daily candlestick close below the support level at $2,470 will increase the chances of a price drop to $2,400 and then to the flag’s lower boundary at $2,300. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Don’t believe the noise: There can never be too many L2s

Opinion by: Igor Mandrigin, co-founder and CTPO of Gateway.fmEvery couple of weeks, it seems another layer 2 rolls out, much to the chagrin of some Web3 industry commentators who are concerned about fragmentation. A recent Gemini Institutional Insights report actually noted how a new Ethereum L2 solution is launched approximately every 19 days. In response to the seemingly endless conveyor belt of new zkEVMs and optimistic rollups coming to market, the chorus of criticism continues to grow louder: “This is definitely the saturation point, no more chains are needed.”Some of the most outspoken critics of L2s argue that L2s are redundant, but this is narrow thinking. In many ways, the idea that creating new L2s should be slowed down is like arguing that there were too many websites in 1998. The proliferation of L2s is not causing the Web3 space to become overly bloated or fragmented at all. The number of chains today isn’t too many. It’s laughably few, and right now is the early innings of a multi-decade explosion in specialized, modular blockchain infrastructure.The rise of L2s is far from a passing fadWhile some contend that this L2 surge we’ve been experiencing is merely a temporary frenzy led by DeFi degenerates, it’s really an enterprise-grade infrastructure expansion, as banks (including Deutsche Bank), game studios (gaming activity on some L2 blockchains rose by over 20,000% in February 2025), logistics networks and global manufacturers get on board. Industries like banking and logistics, which are typically risk-averse, don’t make major tech pivots lightly. They do so because they have to, and in many cases, public blockchains do not meet their needs. Returning to their inherent risk-averse DNA, large enterprises and institutions in these sectors generally won’t want to build on shared, general-purpose L1s. Instead, they’ll want to deploy their own chains where they can enjoy custom performance, predictable costs, jurisdictional compliance and granular-level privacy.This focus on proprietary networks isn’t solely a Web3 thing. Let’s think about it. Did Facebook, Netflix and JPMorgan co-host on GeoCities? Of course not, so why would Web3 be any different? Shared L1s and monolithic architectures might have worked for early token experiments and composable DeFi primitives. Still, realistically, they can’t support real-world businesses’ complexity, regulatory burden or contractual requirements.The growing viability of L2sThanks to modular stacks, rollup-as-a-service platforms and breakthrough zero-knowledge proof technology, spinning up a dedicated chain is becoming increasingly viable and accessible to a wide range of enterprises across the industry spectrum. As the infrastructure improves, the cost of launching and maintaining specialized chains will also reduce, so a substantial rise in the number of L2s can be expected as time goes on.Recent: Devs introduce Ethereum R1 layer-2 scaling solutionSome onlookers will argue that this future will be convoluted for users forced to hop between chains while voicing concerns about liquidity fragmentation and the dispersal of tradable assets across multiple platforms. These are short-sighted concerns. We’re building toward seamless interoperability through shared settlement layers, trust-minimized bridges and unified account abstraction. Ultimately, the end-user won’t care whether they’re on rollup #4,318 or chain #9,072; they’ll just transact with ease and be happy with that. In the same way that cloud computing unlocked hyper scale by abstracting the hardware layer, modular blockchains are unlocking hyperscale for value transfer, asset issuance and programmable trust. Irrespective of what the doubters say, specialized L2s won’t cannibalize each other. They’ll serve different verticals, jurisdictions and use cases. There is no reason why an L2 for high-frequency trading can’t easily coexist with an L2 for national land registries.We’re not drowning in chains — we’re barely ankle-deep in the grand scheme of things. Anyone seriously betting on consolidation or some magical “winner-take-all” chain is just betting against scale and sovereignty. The real bet is hundreds of L2s and thousands of use cases as part of one modular, scalable future.Opinion by: Igor Mandrigin, co-founder and CTPO of Gateway.fm.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Don’t believe the noise: There can never be too many L2s

Opinion by: Igor Mandrigin, co-founder and CTPO of Gateway.fmEvery couple of weeks, it seems another layer 2 rolls out, much to the chagrin of some Web3 industry commentators who are concerned about fragmentation. A recent Gemini Institutional Insights report actually noted how a new Ethereum L2 solution is launched approximately every 19 days. In response to the seemingly endless conveyor belt of new zkEVMs and optimistic rollups coming to market, the chorus of criticism continues to grow louder: “This is definitely the saturation point, no more chains are needed.”Some of the most outspoken critics of L2s argue that L2s are redundant, but this is narrow thinking. In many ways, the idea that creating new L2s should be slowed down is like arguing that there were too many websites in 1998. The proliferation of L2s is not causing the Web3 space to become overly bloated or fragmented at all. The number of chains today isn’t too many. It’s laughably few, and right now is the early innings of a multi-decade explosion in specialized, modular blockchain infrastructure.The rise of L2s is far from a passing fadWhile some contend that this L2 surge we’ve been experiencing is merely a temporary frenzy led by DeFi degenerates, it’s really an enterprise-grade infrastructure expansion, as banks (including Deutsche Bank), game studios (gaming activity on some L2 blockchains rose by over 20,000% in February 2025), logistics networks and global manufacturers get on board. Industries like banking and logistics, which are typically risk-averse, don’t make major tech pivots lightly. They do so because they have to, and in many cases, public blockchains do not meet their needs. Returning to their inherent risk-averse DNA, large enterprises and institutions in these sectors generally won’t want to build on shared, general-purpose L1s. Instead, they’ll want to deploy their own chains where they can enjoy custom performance, predictable costs, jurisdictional compliance and granular-level privacy.This focus on proprietary networks isn’t solely a Web3 thing. Let’s think about it. Did Facebook, Netflix and JPMorgan co-host on GeoCities? Of course not, so why would Web3 be any different? Shared L1s and monolithic architectures might have worked for early token experiments and composable DeFi primitives. Still, realistically, they can’t support real-world businesses’ complexity, regulatory burden or contractual requirements.The growing viability of L2sThanks to modular stacks, rollup-as-a-service platforms and breakthrough zero-knowledge proof technology, spinning up a dedicated chain is becoming increasingly viable and accessible to a wide range of enterprises across the industry spectrum. As the infrastructure improves, the cost of launching and maintaining specialized chains will also reduce, so a substantial rise in the number of L2s can be expected as time goes on.Recent: Devs introduce Ethereum R1 layer-2 scaling solutionSome onlookers will argue that this future will be convoluted for users forced to hop between chains while voicing concerns about liquidity fragmentation and the dispersal of tradable assets across multiple platforms. These are short-sighted concerns. We’re building toward seamless interoperability through shared settlement layers, trust-minimized bridges and unified account abstraction. Ultimately, the end-user won’t care whether they’re on rollup #4,318 or chain #9,072; they’ll just transact with ease and be happy with that. In the same way that cloud computing unlocked hyper scale by abstracting the hardware layer, modular blockchains are unlocking hyperscale for value transfer, asset issuance and programmable trust. Irrespective of what the doubters say, specialized L2s won’t cannibalize each other. They’ll serve different verticals, jurisdictions and use cases. There is no reason why an L2 for high-frequency trading can’t easily coexist with an L2 for national land registries.We’re not drowning in chains — we’re barely ankle-deep in the grand scheme of things. Anyone seriously betting on consolidation or some magical “winner-take-all” chain is just betting against scale and sovereignty. The real bet is hundreds of L2s and thousands of use cases as part of one modular, scalable future.Opinion by: Igor Mandrigin, co-founder and CTPO of Gateway.fm.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

BTC price to $116K next? Bitcoin trader sees &#039;early week&#039; all-time high

Key points:Bitcoin is convincing traders that an upside breakout is around the corner, with all-time highs in sight.One target demands $116,000 next week, moving BTC/USD firmly out of its narrow range.A quick dip before continuing higher is among the options for BTC price action into the new week.Bitcoin (BTC) reduced volatility to a minimum into the May 18 weekly close as traders bet on a fresh breakout.BTC/USD 4-hour chart. Source: Cointelegraph/TradingViewBTC price brews classic breakout signalData from Cointelegraph Markets Pro and TradingView showed the area around $103,000 acting as a BTC price magnet throughout the weekend.Now barely fluctuating up or down, BTC/USD was primed for a liquidity grab, with $105,000 and $103,000 both targets, data from monitoring resource CoinGlass confirmed.BTC liquidation heatmap. Source: CoinGlassCommenting on the current market structure, traders remained broadly bullish, anticipating a rematch with all-time highs and the return of price discovery.“Next early week Bitcoin target: $116,000,” popular trader Alan summarized in his latest short-term prediction on X.An accompanying chart underscored the lack of volatility characterizing BTC/USD over the past week.“$BTC is brewing within this converging triangle with decreasing volume, which is a common indicator of potential for a Breakout,” Alan added.BTC/USD 4-hour chart. Source: Trader Tardigrade/XFellow trader Mikybull Crypto described the market structure as an “intraday diamond pattern breakout.”$BTC INTRADAY DIAMOND PATTERN BREAKOUT pic.twitter.com/gMGMub7nTt— Mikybull ?Crypto (@MikybullCrypto) May 18, 2025“With the recent run up we've seen a consistent Coinbase spot premium. This is good and show there's solid demand,” trader Daan Crypto Trades continued, referring to promising US buyer support fueling Bitcoin’s return to six figures.Qualms over outstanding resistanceMore conservative perspectives were confined to a temporary pullback before the upside resumed.Related: Bitcoin hitting $220K ‘reasonable’ in 2025, says gold-based forecast“Slow week and Bitcoin hasn't been able to break resistance so far, which still makes me think that this scenario might be possibly in play,” trader CrypNuevo suggested.BTC/USDT 1-day chart. Source: CrypNuevo/XDaan Crypto Trades added that against stocks, Bitcoin had yet to beat out final resistance.$BTC Has failed to push higher relative to stocks.The recent relative weakness has come after the US has made a "Deal" with China.This does show that BTC has turned into this asset which gets interesting for investors when outflows and uncertainty happens elsewhere.So while… https://t.co/hShAZxGM21 pic.twitter.com/UEPZNGWjff— Daan Crypto Trades (@DaanCrypto) May 17, 2025As Cointelegraph reported, longer-term concerns include a full retrace of the relief bounce, which rescued BTC/USD from multimonth lows near $75,000 in April.A sweep of levels closer to $90,000 is also on the radar.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

BTC price to $116K next? Bitcoin trader sees &#039;early week&#039; all-time high

Key points:Bitcoin is convincing traders that an upside breakout is around the corner, with all-time highs in sight.One target demands $116,000 next week, moving BTC/USD firmly out of its narrow range.A quick dip before continuing higher is among the options for BTC price action into the new week.Bitcoin (BTC) reduced volatility to a minimum into the May 18 weekly close as traders bet on a fresh breakout.BTC/USD 4-hour chart. Source: Cointelegraph/TradingViewBTC price brews classic breakout signalData from Cointelegraph Markets Pro and TradingView showed the area around $103,000 acting as a BTC price magnet throughout the weekend.Now barely fluctuating up or down, BTC/USD was primed for a liquidity grab, with $105,000 and $103,000 both targets, data from monitoring resource CoinGlass confirmed.BTC liquidation heatmap. Source: CoinGlassCommenting on the current market structure, traders remained broadly bullish, anticipating a rematch with all-time highs and the return of price discovery.“Next early week Bitcoin target: $116,000,” popular trader Alan summarized in his latest short-term prediction on X.An accompanying chart underscored the lack of volatility characterizing BTC/USD over the past week.“$BTC is brewing within this converging triangle with decreasing volume, which is a common indicator of potential for a Breakout,” Alan added.BTC/USD 4-hour chart. Source: Trader Tardigrade/XFellow trader Mikybull Crypto described the market structure as an “intraday diamond pattern breakout.”$BTC INTRADAY DIAMOND PATTERN BREAKOUT pic.twitter.com/gMGMub7nTt— Mikybull ?Crypto (@MikybullCrypto) May 18, 2025“With the recent run up we've seen a consistent Coinbase spot premium. This is good and show there's solid demand,” trader Daan Crypto Trades continued, referring to promising US buyer support fueling Bitcoin’s return to six figures.Qualms over outstanding resistanceMore conservative perspectives were confined to a temporary pullback before the upside resumed.Related: Bitcoin hitting $220K ‘reasonable’ in 2025, says gold-based forecast“Slow week and Bitcoin hasn't been able to break resistance so far, which still makes me think that this scenario might be possibly in play,” trader CrypNuevo suggested.BTC/USDT 1-day chart. Source: CrypNuevo/XDaan Crypto Trades added that against stocks, Bitcoin had yet to beat out final resistance.$BTC Has failed to push higher relative to stocks.The recent relative weakness has come after the US has made a "Deal" with China.This does show that BTC has turned into this asset which gets interesting for investors when outflows and uncertainty happens elsewhere.So while… https://t.co/hShAZxGM21 pic.twitter.com/UEPZNGWjff— Daan Crypto Trades (@DaanCrypto) May 17, 2025As Cointelegraph reported, longer-term concerns include a full retrace of the relief bounce, which rescued BTC/USD from multimonth lows near $75,000 in April.A sweep of levels closer to $90,000 is also on the radar.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

‘Bitcoin Standard’ author backs funding dev to make spamming Bitcoin costly

Economist and author of The Bitcoin Standard, Saifedean Ammous, has weighed in on the ongoing debate over spam inscriptions on the Bitcoin network, suggesting he would “throw in a few sats” to fund a full-time developer focused on making Bitcoin spamming more difficult and expensive.Ammous made the remarks in response to a thread initiated by the pseudonymous developer GrassFedBitcoin, who called for Bitcoin Core to merge pull request #28408, which would enable node operators to filter inscriptions more easily.According to GrassFedBitcoin, the lack of inscription filtering tools contributes to unnecessary blockchain bloat and undermines Bitcoin (BTC)’s role as a monetary protocol.“No one running a node wants to relay inscriptions,” he wrote, arguing that the OP_RETURN limit increases were justified in the past under false assumptions. He pushed for a configurable, default policy discouraging the use of Bitcoin for storing JPEGs rather than monetary data.Blockstream CEO Adam Back challenged the proposal, describing inscription filtering as an “arms race.” He noted that spam data embedded in Bitcoin transactions can be endlessly modified using code structures, requiring constant updates to filtering tools.Source: Adam BackRelated: Bitcoin Ordinals vs. Ethereum NFTs: A comparative overviewAmmous compares Bitcoin spam to emailAmmous compared the Bitcoin spam issue to email spam — another arms race society continues to fight without abandoning the system.“It’s not easy, but it’s worth trying to help bankrupt the spammers faster,” Ammous said. He argued that fighting spam is not censorship, noting that node operators already reject invalid transactions.“So a node runner looking to remove retards' spam is no less valid than retards' spam,” he added.The debate drew commentary from other users. One participant suggested Core developers treat spam-coding employees at certain startups as “unwilling QA engineers” and simply unstandardize every trick they deploy.Ammous took it further, proposing to “deprecate” the work of developers building spam tools and even hiring outside coders to overwhelm their systems.Source: Saifedean AmmousThe conversation reflects ongoing tensions in the Bitcoin community over the network’s intended use. With inscriptions continuing to congest the network, calls for technical countermeasures — and pointed critiques of those defending spam — are growing louder.In a Feb. 4 report, Mempool Research said the adoption of inscriptions could drive the Bitcoin network’s average block size as high as 4 megabytes (MB) per block, far higher than current averages.Bitcoin’s average block size — the amount of data in each block posted to the network’s public ledger — is currently around 1.5 MB.Magazine: Arthur Hayes $1M Bitcoin tip, altcoins’ powerful rally’ looms: Hodler’s Digest, May 11 – 17

‘Bitcoin Standard’ author backs funding dev to make spamming Bitcoin costly

Economist and author of The Bitcoin Standard, Saifedean Ammous, has weighed in on the ongoing debate over spam inscriptions on the Bitcoin network, suggesting he would “throw in a few sats” to fund a full-time developer focused on making Bitcoin spamming more difficult and expensive.Ammous made the remarks in response to a thread initiated by the pseudonymous developer GrassFedBitcoin, who called for Bitcoin Core to merge pull request #28408, which would enable node operators to filter inscriptions more easily.According to GrassFedBitcoin, the lack of inscription filtering tools contributes to unnecessary blockchain bloat and undermines Bitcoin (BTC)’s role as a monetary protocol.“No one running a node wants to relay inscriptions,” he wrote, arguing that the OP_RETURN limit increases were justified in the past under false assumptions. He pushed for a configurable, default policy discouraging the use of Bitcoin for storing JPEGs rather than monetary data.Blockstream CEO Adam Back challenged the proposal, describing inscription filtering as an “arms race.” He noted that spam data embedded in Bitcoin transactions can be endlessly modified using code structures, requiring constant updates to filtering tools.Source: Adam BackRelated: Bitcoin Ordinals vs. Ethereum NFTs: A comparative overviewAmmous compares Bitcoin spam to emailAmmous compared the Bitcoin spam issue to email spam — another arms race society continues to fight without abandoning the system.“It’s not easy, but it’s worth trying to help bankrupt the spammers faster,” Ammous said. He argued that fighting spam is not censorship, noting that node operators already reject invalid transactions.“So a node runner looking to remove retards' spam is no less valid than retards' spam,” he added.The debate drew commentary from other users. One participant suggested Core developers treat spam-coding employees at certain startups as “unwilling QA engineers” and simply unstandardize every trick they deploy.Ammous took it further, proposing to “deprecate” the work of developers building spam tools and even hiring outside coders to overwhelm their systems.Source: Saifedean AmmousThe conversation reflects ongoing tensions in the Bitcoin community over the network’s intended use. With inscriptions continuing to congest the network, calls for technical countermeasures — and pointed critiques of those defending spam — are growing louder.In a Feb. 4 report, Mempool Research said the adoption of inscriptions could drive the Bitcoin network’s average block size as high as 4 megabytes (MB) per block, far higher than current averages.Bitcoin’s average block size — the amount of data in each block posted to the network’s public ledger — is currently around 1.5 MB.Magazine: Arthur Hayes $1M Bitcoin tip, altcoins’ powerful rally’ looms: Hodler’s Digest, May 11 – 17

XRP Price Surges After V-Shaped Recovery, Targets $3.40

Retired artist loses $2M in crypto to Coinbase impersonator

Retired artist Ed Suman lost over $2 million in cryptocurrency earlier this year after falling victim to a scam involving someone posing as a Coinbase support representative.Suman, 67, spent nearly two decades as a fabricator in the art world, helping build high-profile works such as Jeff Koons’ Balloon Dog sculptures, according to a May 17 report by Bloomberg.After retiring, he turned to cryptocurrency investing, eventually accumulating 17.5 Bitcoin (BTC) and 225 Ether (ETH) — a portfolio that comprised most of his retirement savings.He stored the funds in a Trezor Model One, a hardware wallet commonly used by crypto holders to avoid the risks of exchange hacks. But in March, Suman received a text message appearing to be from Coinbase, warning him of unauthorized account access.After responding, he got a phone call from a man identifying himself as a Coinbase security staffer named Brett Miller. The caller appeared knowledgeable, correctly stating that Suman’s funds were stored in a hardware wallet.He then convinced Suman that his wallet could still be vulnerable and walked him through a “security procedure” that involved entering his seed phrase into a website mimicking Coinbase’s interface.Nine days later, a second caller claiming to be from Coinbase repeated the process. By the end of that call, all of Suman’s crypto holdings were gone.Crypto scammers impersonate Coinbase support. Source: NanoBaiter Related: Bitcoin breaks out while Coinbase breaks down: Finance RedefinedCoinbase suffers major data breachThe scam followed a data breach at Coinbase disclosed this week, in which attackers bribed customer support staff in India to access sensitive user information.Stolen data included customer names, account balances, and transaction histories. Coinbase confirmed the breach impacted roughly 1% of its monthly transacting users.Among those affected was venture capitalist Roelof Botha, managing partner at Sequoia Capital. There is no indication that his funds were accessed, and Botha declined to comment.Coinbase’s chief security officer, Philip Martin, reportedly said the contracted customer service agents at the center of the controversy were based in India and had been fired following the breach.The exchange has also said it plans to pay between $180 million and $400 million in remediation and reimbursement to affected users.Magazine: Arthur Hayes $1M Bitcoin tip, altcoins’ powerful rally’ looms: Hodler’s Digest, May 11 – 17

Retired artist loses $2M in crypto to Coinbase impersonator

Retired artist Ed Suman lost over $2 million in cryptocurrency earlier this year after falling victim to a scam involving someone posing as a Coinbase support representative.Suman, 67, spent nearly two decades as a fabricator in the art world, helping build high-profile works such as Jeff Koons’ Balloon Dog sculptures, according to a May 17 report by Bloomberg.After retiring, he turned to cryptocurrency investing, eventually accumulating 17.5 Bitcoin (BTC) and 225 Ether (ETH) — a portfolio that comprised most of his retirement savings.He stored the funds in a Trezor Model One, a hardware wallet commonly used by crypto holders to avoid the risks of exchange hacks. But in March, Suman received a text message appearing to be from Coinbase, warning him of unauthorized account access.After responding, he got a phone call from a man identifying himself as a Coinbase security staffer named Brett Miller. The caller appeared knowledgeable, correctly stating that Suman’s funds were stored in a hardware wallet.He then convinced Suman that his wallet could still be vulnerable and walked him through a “security procedure” that involved entering his seed phrase into a website mimicking Coinbase’s interface.Nine days later, a second caller claiming to be from Coinbase repeated the process. By the end of that call, all of Suman’s crypto holdings were gone.Crypto scammers impersonate Coinbase support. Source: NanoBaiter Related: Bitcoin breaks out while Coinbase breaks down: Finance RedefinedCoinbase suffers major data breachThe scam followed a data breach at Coinbase disclosed this week, in which attackers bribed customer support staff in India to access sensitive user information.Stolen data included customer names, account balances, and transaction histories. Coinbase confirmed the breach impacted roughly 1% of its monthly transacting users.Among those affected was venture capitalist Roelof Botha, managing partner at Sequoia Capital. There is no indication that his funds were accessed, and Botha declined to comment.Coinbase’s chief security officer, Philip Martin, reportedly said the contracted customer service agents at the center of the controversy were based in India and had been fired following the breach.The exchange has also said it plans to pay between $180 million and $400 million in remediation and reimbursement to affected users.Magazine: Arthur Hayes $1M Bitcoin tip, altcoins’ powerful rally’ looms: Hodler’s Digest, May 11 – 17

SUI Surges After Finding Strong Support at $3.75 Level

Dogecoin (DOGE) Whales Accumulate 1 Billion DOGE Amid Critical Support Formation

BNB Trades in Tight Range Amid Decreasing Volatility

UK to require crypto firms to report every customer transaction

United Kingdom crypto companies will need to collect and report data from every customer trade and transfer beginning Jan. 1, 2026 as part of a broader effort to improve crypto tax reporting, the UK government said.Everything from the user’s full name, home address and tax identification number will need to be collected and reported for every transaction, including the cryptocurrency used and the amount moved, the UK Revenue and Customs department said in a May 14 statement.Details of companies, trusts and charities transacting on crypto platforms will also need to be reported.Failure to comply or inaccurate reporting may incur penalties of up to 300 British pounds ($398.4) per user. The UK Revenue and Customs department said it would inform companies on how to comply with the incoming measures in due course.However, UK authorities are encouraging crypto firms to start collecting data now to ensure compliance readiness.The new rule is part of the UK’s integration of the Organisation for Economic Development’s Cryptoasset Reporting Framework to improve transparency in crypto tax reporting.The changes reflect the UK government’s aim to establish a more robust regulatory framework that supports industry growth while ensuring consumer protection.Related: Bitwise lists four crypto ETPs on London Stock ExchangeUK Chancellor Rachel Reeves also introduced a draft bill in late April to bring crypto exchanges, custodians and broker-dealers within its regulatory reach to combat scams and fraud.“Today’s announcement sends a clear signal: Britain is open for business — but closed to fraud, abuse, and instability,” Reeves said at the time.A study from the UK’s Financial Conduct Authority last November found that 12% of UK adults owned crypto in 2024 — a significant increase from the 4% reported in 2021.UK’s approach contrasts with EU’s MiCAThe UK’s move to integrate the crypto rules into its existing financial framework contrasts with the European Union’s approach, which introduced the new Markets in Crypto-Assets Regulation framework last year.According to the MiCA Crypto Alliance, one key difference is that the UK will allow foreign stablecoin issuers to operate in the UK without needing to register.There will also be no cap on stablecoin volumes, unlike the EU’s approach, which may impose controls on stablecoin issuers to manage systemic risks.Source: MiCA Crypto AllianceMagazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

UK to require crypto firms to report every customer transaction

United Kingdom crypto companies will need to collect and report data from every customer trade and transfer beginning Jan. 1, 2026 as part of a broader effort to improve crypto tax reporting, the UK government said.Everything from the user’s full name, home address and tax identification number will need to be collected and reported for every transaction, including the cryptocurrency used and the amount moved, the UK Revenue and Customs department said in a May 14 statement.The legal business name and addresses of companies, trusts and charities will also need to be reported.Failure to comply or inaccurate reporting may incur penalties of up to 300 British pounds ($398.4) per user. The UK Revenue and Customs department said it would inform companies on how to comply with the incoming measures in due course.However, UK authorities are encouraging crypto firms to start collecting data now to ensure compliance readiness.The new rule is part of the UK’s integration of the Organisation for Economic Development’s Cryptoasset Reporting Framework to improve transparency in crypto tax reporting.The changes reflect the UK government’s aim to establish a more robust regulatory framework that supports industry growth while ensuring consumer protection.Related: Bitwise lists four crypto ETPs on London Stock ExchangeUK Chancellor Rachel Reeves also introduced a draft bill in late April to bring crypto exchanges, custodians and broker-dealers within its regulatory reach to combat scams and fraud.“Today’s announcement sends a clear signal: Britain is open for business — but closed to fraud, abuse, and instability,” Reeves said at the time.A study from the UK’s Financial Conduct Authority last November found that 12% of UK adults owned crypto in 2024 — a significant increase from the 4% reported in 2021.UK’s approach contrasts with EU’s MiCAThe UK’s move to integrate the crypto rules into its existing financial framework contrasts with the European Union’s approach, which introduced the new Markets in Crypto-Assets Regulation framework last year.According to the MiCA Crypto Alliance, one key difference is that the UK will allow foreign stablecoin issuers to operate in the UK without needing to register.There will also be no cap on stablecoin volumes, unlike the EU’s approach, which may impose controls on stablecoin issuers to manage systemic risks.Source: MiCA Crypto AllianceMagazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Hong Kong police busts $15M laundering ring that used crypto, 500 bank accounts

Hong Kong police arrested 12 people involved in a cross-border money laundering scheme that relied on crypto and over 500 stooge bank accounts to launder HK$118 million ($15 million), local news outlets reported.The syndicate was dismantled on May 15, resulting in the arrest of nine men and three women in mainland China and Hong Kong. The suspects allegedly recruited others to open bank accounts to receive proceeds from fraud cases, which were then converted into crypto at crypto exchange shops to launder the illicit funds, Hong Kong Commercial Daily reported on May 17.The criminal organization rented a residential unit in the Hong Kong neighborhood of Mong Kok to plan and carry out its money laundering activities. Of the $15 million laundered, more than $1.2 million was linked to 58 reported fraud cases.Caught in actionThe bust followed police surveillance on May 15, when two recruits left the syndicate’s Mong Kok base — one visiting a bank, the other an ATM — before both went to convert the cash into crypto at a crypto exchange shop in the neighborhood of Tsim Sha Tsui.Police arrested both individuals on the spot, seizing around HK$770,000 ($98,540) in cash before the funds could be laundered. The other 10 individuals, aged between 20 and 41, were arrested soon after.Police seized approximately HK$1.05 million ($134,370) in cash, over 560 ATM cards, multiple mobile phones, bank documents and records related to crypto transactions.Senior Inspector Tse Ka-lun of Hong Kong’s Commercial Crime Bureau claimed that the individuals often used bank accounts from their friends and family to launder the stolen funds. Hong Kong reported a 12% year-on-year increase in fraud reports in 2024, with authorities making more than 10,000 fraud-related arrests. Of those arrests, around 73% involved individuals who held stooge bank accounts.Related: DOJ charges 12 more gamer-turned $263M Bitcoin robbersThe crackdown comes as Hong Kong continues to roll out its crypto regulatory framework to support local innovation, protect consumers and establish itself as a crypto hub.Hong Kong’s Securities and Futures Commission introduced new rules for crypto exchanges offering staking services in April. Two months earlier, the securities regulator rolled out a roadmap to improve market access, optimize compliance, expand product offerings, strengthen crypto infrastructure and foster relationships with industry players. Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Hong Kong police busts $15M laundering ring that used crypto, 500 bank accounts

Hong Kong police arrested 12 people involved in a cross-border money laundering scheme that relied on crypto and over 500 stooge bank accounts to launder HK$118 million ($15 million), local news outlets reported.The syndicate was dismantled on May 15, resulting in the arrest of nine men and three women in mainland China and Hong Kong. The suspects allegedly recruited others to open bank accounts to receive proceeds from fraud cases, which were then converted into crypto at crypto exchange shops to launder the illicit funds, Hong Kong Commercial Daily reported on May 17.The criminal organization rented a residential unit in the Hong Kong neighborhood of Mong Kok to plan and carry out its money laundering activities. Of the $15 million laundered, more than $1.2 million was linked to 58 reported fraud cases.Caught in actionThe bust followed police surveillance on May 15, when two recruits left the syndicate’s Mong Kok base — one visiting a bank, the other an ATM — before both went to convert the cash into crypto at a crypto exchange shop in the neighborhood of Tsim Sha Tsui.Police arrested both individuals on the spot, seizing around HK$770,000 ($98,540) in cash before the funds could be laundered. The other 10 individuals, aged between 20 and 41, were arrested soon after.Police seized approximately HK$1.05 million ($134,370) in cash, over 560 ATM cards, multiple mobile phones, bank documents and records related to crypto transactions.Senior Inspector Tse Ka-lun of Hong Kong’s Commercial Crime Bureau claimed that the individuals often used bank accounts from their friends and family to launder the stolen funds. Hong Kong reported a 12% year-on-year increase in fraud reports in 2024, with authorities making more than 10,000 fraud-related arrests. Of those arrests, around 73% involved individuals who held stooge bank accounts.Related: DOJ charges 12 more gamer-turned $263M Bitcoin robbersThe crackdown comes as Hong Kong continues to roll out its crypto regulatory framework to support local innovation, protect consumers and establish itself as a crypto hub.Hong Kong’s Securities and Futures Commission introduced new rules for crypto exchanges offering staking services in April. Two months earlier, the securities regulator rolled out a roadmap to improve market access, optimize compliance, expand product offerings, strengthen crypto infrastructure and foster relationships with industry players. Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

The Public internet is a bottleneck for blockchain — DoubleZero CEO

Public internet infrastructure is the critical speed and performance constraint on high-throughput blockchain networks, according to Austin Federa, co-founder and CEO of DoubleZero, a project developing high-speed fiber optic communication rails for blockchains."The downside of the public internet is it was never built for high-performance systems. It was always built for this sort of relationship of one big server talking to one little server," Federa told Cointelegraph in an interview at Consensus 2025. The executive explained:"We have validators all around the world. Rotating leader schedules all the time. And then they switch from having to be massive consumers of data to extremely massive broadcasters of data. So that means that they need huge amounts of resources both on ingress and egress."The executive added that the constraint posed by public internet infrastructure is now the limiting factor in blockchain performance and not compute power or software development.Austin Federa giving a presentation on DoubleZero at Consensus 2025 in Toronto, Canada. Source: Cointelegraph/Vince QuillNetworks like DoubleZero will make blockchains faster, decrease spreads in decentralized finance (DeFi) trades, lower transaction fees, and open up new use cases for blockchain networks that were previously unavailable due to communication infrastructure constraints.Related: Blockchains ready for institutions, lawyers hesitate: DoubleZero CEODoubleZero co-founded by Austin Federa in 2024Austin Federa left the Solana Foundation to establish the DoubleZero Protocol in December 2024. The goal of the project is to reduce latency, the time it takes for data to travel in a network, and bandwidth — the maximum data traffic a network can handle at once.In April 2025, DoubleZero conducted a validator token sale to sell token purchase agreements to interested node operators seeking to become validators for the network.The token sale was only available to accredited investors and already active validators on high-throughput blockchain networks including, Solana, Celestia, Sui, Aptos, and Avalanche.Cover page for the DoubleZero whitepaper. Source: DoubleZeroDoubleZero's team is aiming to launch its public mainnet in the second half of 2025, following a successful $28 million capital raise.Federa told Cointelegraph that the increasingly high throughput of blockchain networks and the overall development of the industry has necessitated the building of dedicated, high-performance communication infrastructure to meet demand from increasingly sophisticated projects.Magazine: What are native rollups? Full guide to Ethereum’s latest innovation

The Public internet is a bottleneck for blockchain — DoubleZero CEO

Public internet infrastructure is the critical speed and performance constraint on high-throughput blockchain networks, according to Austin Federa, co-founder and CEO of DoubleZero, a project developing high-speed fiber optic communication rails for blockchains."The downside of the public internet is it was never built for high-performance systems. It was always built for this sort of relationship of one big server talking to one little server," Federa told Cointelegraph in an interview at Consensus 2025. The executive explained:"We have validators all around the world. Rotating leader schedules all the time. And then they switch from having to be massive consumers of data to extremely massive broadcasters of data. So that means that they need huge amounts of resources both on ingress and egress."The executive added that the constraint posed by public internet infrastructure is now the limiting factor in blockchain performance and not compute power or software development.Austin Federa giving a presentation on DoubleZero at Consensus 2025 in Toronto, Canada. Source: Cointelegraph/Vince QuillNetworks like DoubleZero will make blockchains faster, decrease spreads in decentralized finance (DeFi) trades, lower transaction fees, and open up new use cases for blockchain networks that were previously unavailable due to communication infrastructure constraints.Related: Blockchains ready for institutions, lawyers hesitate: DoubleZero CEODoubleZero co-founded by Austin Federa in 2024Austin Federa left the Solana Foundation to establish the DoubleZero Protocol in December 2024. The goal of the project is to reduce latency, the time it takes for data to travel in a network, and bandwidth — the maximum data traffic a network can handle at once.In April 2025, DoubleZero conducted a validator token sale to sell token purchase agreements to interested node operators seeking to become validators for the network.The token sale was only available to accredited investors and already active validators on high-throughput blockchain networks including, Solana, Celestia, Sui, Aptos, and Avalanche.Cover page for the DoubleZero whitepaper. Source: DoubleZeroDoubleZero's team is aiming to launch its public mainnet in the second half of 2025, following a successful $28 million capital raise.Federa told Cointelegraph that the increasingly high throughput of blockchain networks and the overall development of the industry has necessitated the building of dedicated, high-performance communication infrastructure to meet demand from increasingly sophisticated projects.Magazine: What are native rollups? Full guide to Ethereum’s latest innovation

Moody&#039;s downgrades US credit rating due to rising debt

Moody's credit rating agency downgraded the credit rating of the United States government from Aaa to Aa1, citing the rising national debt as the primary driver behind the reduction in creditworthiness.According to the May 16 announcement from the rating agency, US lawmakers have failed to stem annual deficits or reduce spending over the years, leading to a growing national debt. The rating agency wrote:"We do not believe that material multi-year reductions in mandatory spending and deficits will result from the current fiscal proposals under consideration. Over the next decade, we expect larger deficits as entitlement spending rises while government revenue remains broadly flat."The credit downgrade is only one degree out of the 21-notch rating scale used by the company to assess the credit health of an entity.An overview of the US national debt. Source: US National Debt ClockDespite the negative short to medium-term credit outlook, Moody's maintained a positive outlook on the long-term health of the United States, citing its robust economy and the status of the US dollar as the global reserve currency as strengths, reflecting "balanced" lending risks.Related: Asia’s wealthy shifting from US dollar to crypto, gold, China: UBSInvestors react to Moody's US credit revision Moody's announcement drew mixed reactions from investors and market participants, leaving many unconvinced by the agency's revised outlook.Gabor Gurbacs, CEO and founder of crypto loyalty rewards company Pointsville, cited the rating agency's previous credit assessments during times of financial stress as unreliable, signaling that the outlook was too optimistic."This is the same Moody’s that gave Aaa ratings to sub-prime mortgage-backed securities that led to the 2007-2008 financial crisis," the executive wrote in a May 17 X post.However, macroeconomic investor Jim Bianco argued that the recent Moody's credit outlook does not reflect a real downgrade in the perception of US government creditworthiness and characterized the announcement as a "nothing burger."Interest rates on the 30-year US Treasury Bond spiked to nearly 5% in May 2025, signaling reduced long-term investor confidence in US debt. Source: TradingViewUS government debt surpassed $36 trillion in January 2025 and shows no signs of slowing, despite recent efforts by Elon Musk and others to reduce federal spending and curtail the national debt.As the debt climbs and investors lose faith in US government securities, bond yields will spike, causing the debt service payments to go up, further inflating the national debt.This creates a vicious cycle as the government will have to entice investors with ever-greater yields to incentivize them to purchase government debt.Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle

Moody&#039;s downgrades US credit rating due to rising debt

Moody's credit rating agency downgraded the credit rating of the United States government from Aaa to Aa1, citing the rising national debt as the primary driver behind the reduction in creditworthiness.According to the May 16 announcement from the rating agency, US lawmakers have failed to stem annual deficits or reduce spending over the years, leading to a growing national debt. The rating agency wrote:"We do not believe that material multi-year reductions in mandatory spending and deficits will result from the current fiscal proposals under consideration. Over the next decade, we expect larger deficits as entitlement spending rises while government revenue remains broadly flat."The credit downgrade is only one degree out of the 21-notch rating scale used by the company to assess the credit health of an entity.An overview of the US national debt. Source: US National Debt ClockDespite the negative short to medium-term credit outlook, Moody's maintained a positive outlook on the long-term health of the United States, citing its robust economy and the status of the US dollar as the global reserve currency as strengths, reflecting "balanced" lending risks.Related: Asia’s wealthy shifting from US dollar to crypto, gold, China: UBSInvestors react to Moody's US credit revision Moody's announcement drew mixed reactions from investors and market participants, leaving many unconvinced by the agency's revised outlook.Gabor Gurbacs, CEO and founder of crypto loyalty rewards company Pointsville, cited the rating agency's previous credit assessments during times of financial stress as unreliable, signaling that the outlook was too optimistic."This is the same Moody’s that gave Aaa ratings to sub-prime mortgage-backed securities that led to the 2007-2008 financial crisis," the executive wrote in a May 17 X post.However, macroeconomic investor Jim Bianco argued that the recent Moody's credit outlook does not reflect a real downgrade in the perception of US government creditworthiness and characterized the announcement as a "nothing burger."Interest rates on the 30-year US Treasury Bond spiked to nearly 5% in May 2025, signaling reduced long-term investor confidence in US debt. Source: TradingViewUS government debt surpassed $36 trillion in January 2025 and shows no signs of slowing, despite recent efforts by Elon Musk and others to reduce federal spending and curtail the national debt.As the debt climbs and investors lose faith in US government securities, bond yields will spike, causing the debt service payments to go up, further inflating the national debt.This creates a vicious cycle as the government will have to entice investors with ever-greater yields to incentivize them to purchase government debt.Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle

High-speed oracles disrupting $50B finance data industry — Web3 Exec

Michael James, the head of institutional business development at Douro Labs — the company that developed the Pyth high-speed blockchain oracle network — told Cointelegraph that oracle networks like Pyth are disrupting the $50 billion financial data industry that provides critical price information to exchanges, brokerages, trading firms, and other institutional entities.In an interview at Consensus 2025, the executive said that Pyth Network's data pull model sets it apart from traditional pricing oracles, allowing customers to pay for data on demand, reducing costs for institutions reliant on real-time market data.Differences between pull and push models in oracle systems. Source: Pyth NetworkAccording to the executive, the financial data industry is currently monopolized by around eight major providers that continually raise prices on clients arbitrarily. James added:"These data vendors have no competition in traditional finance, and so they have all the pricing power in the world. There is no substitutability; whether you are a banker or hedge fund and you are trading more or less — you still have to buy that data for compliance reasons."The high costs of financial data stifle innovation and prohibit small to medium-sized businesses from taking part in the global financial services industry, further concentrating the sector in the hands of a few large players and preventing novel use cases from emerging.Related: Asset tokenization expected to speed capital flows, says Chainlink's NazarovPyth experiences significant growth in 2024The Pyth oracle network provides real-time market data and price feeds for cryptocurrencies, equities, foreign currency exchange markets (FOREX), commodities, and rates.In December 2024, Pyth announced the launch of real-time oil pricing data on over 80 blockchain networks.The real-time oil price feeds track data from West Texas Intermediate (WTI) and Brent Crude Oil, aggregating the data from multiple sources and clearing the path for energy derivatives instruments and energy trading to take place on blockchain rails.A breakdown of market share between blockchain oracle providers. Source: DeFiLlamaThroughout 2024, Pyth network increased its total value secured (TVS), a metric that tracks the amount of capital secured by an oracle network, 46-fold.According to data from DeFiLlama, Pyth currently commands roughly 11.3% of the blockchain oracle market, up from the approximately 10.8% in market share reported in September 2024.Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

High-speed oracles disrupting $50B finance data industry — Web3 Exec

Michael James, the head of institutional business development at Douro Labs — the company that developed the Pyth high-speed blockchain oracle network — told Cointelegraph that oracle networks like Pyth are disrupting the $50 billion financial data industry that provides critical price information to exchanges, brokerages, trading firms, and other institutional entities.In an interview at Consensus 2025, the executive said that Pyth Network's data pull model sets it apart from traditional pricing oracles, allowing customers to pay for data on demand, reducing costs for institutions reliant on real-time market data.Differences between pull and push models in oracle systems. Source: Pyth NetworkAccording to the executive, the financial data industry is currently monopolized by around eight major providers that continually raise prices on clients arbitrarily. James added:"These data vendors have no competition in traditional finance, and so they have all the pricing power in the world. There is no substitutability; whether you are a banker or hedge fund and you are trading more or less — you still have to buy that data for compliance reasons."The high costs of financial data stifle innovation and prohibit small to medium-sized businesses from taking part in the global financial services industry, further concentrating the sector in the hands of a few large players and preventing novel use cases from emerging.Related: Asset tokenization expected to speed capital flows, says Chainlink's NazarovPyth experiences significant growth in 2024The Pyth oracle network provides real-time market data and price feeds for cryptocurrencies, equities, foreign currency exchange markets (FOREX), commodities, and rates.In December 2024, Pyth announced the launch of real-time oil pricing data on over 80 blockchain networks.The real-time oil price feeds track data from West Texas Intermediate (WTI) and Brent Crude Oil, aggregating the data from multiple sources and clearing the path for energy derivatives instruments and energy trading to take place on blockchain rails.A breakdown of market share between blockchain oracle providers. Source: DeFiLlamaThroughout 2024, Pyth network increased its total value secured (TVS), a metric that tracks the amount of capital secured by an oracle network, 46-fold.According to data from DeFiLlama, Pyth currently commands roughly 11.3% of the blockchain oracle market, up from the approximately 10.8% in market share reported in September 2024.Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

Ryman Hospitality launches 2.3M stock offering to fund Arizona property acquisition

Ryman Hospitality to acquire Arizona-based property for $865M

Ryman Hospitality Properties, Inc. to Acquire JW Marriott Phoenix Desert Ridge Resort & Spa for $865 Million

NASHVILLE, Tenn., May 19, 2025 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”), a lodging real estate investment trust (“REIT”) specializing in group-oriented, destination hotel assets in urban and resort markets, today announced a definitive agreement under which the Company will purchase the JW Marriott Phoenix Desert Ridge Resort & Spa (“JW Marriott Desert Ridge”) in Phoenix, Arizona, for $865 million. The Company plans for the resort to continue to be operated by Marriott International under the JW Marriott flag. The purchase price represents a 12.7x Adjusted EBITDAre multiple on JW Marriott Desert Ridge’s 2024 results.1 The property’s 2025 results are expected to be impacted by construction disruption related to the meeting space renovation currently underway and ongoing through the third quarter of 2025. The Company expects the acquisition of the JW Marriott Desert Ridge to be accretive to adjusted funds from operations (“Adjusted FFO”) per fully diluted share for 2026.

SEGA SAMMY Nears Completion of Regulatory Approvals to Acquire GAN

LAS VEGAS--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today announced that SEGA SAMMY HOLDINGS INC. (“SEGA SAMMY HOLDINGS”) through its affiliated entity SEGA SAMMY CREATION INC. (“SSC”) is nearing completion of procurement of all gaming regulatory approvals necessary to complete its planned acquisition of GAN. GA

Altice France reaches out to potential suitors for SFR unit - Bloomberg

Zaya Younan and Industry Experts Forecast Significant Recovery for National Office Market

National Trends Indicate Robust Turnaround especially in some major cities like Houston National Trends Indicate Robust Turnaround especially in some major cities like Houston

Circle talks with Coinbase, Ripple on potential sale, while still pursuing IPO - report

OraSure rises as seen benefitting from 23andMe/Regeneron deal

JPMorgan Chase's Jamie Dimon discusses succession, acquisitions, expenses at Investor Day

Nippon Steel aims to spend $14B on US Steel, including $4B for new mill - Reuters

Form 8.3 - Primary Health Properties Plc

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Form 8.3 - GlobalData Plc

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Paramount Group starts strategic review after CFO steps down

Dogness to acquire 19.5% equity interest in Dogness Intelligent Technology

Form 8.3 - Mural Oncology plc

IRELAND, DISCLOSURE, May 19, 2025 (GLOBE NEWSWIRE) -- Ap27

Ares Management acquires majority stake in Landscape Workshop

Kellanova edges higher as EU sets June 25 deadline for Mars deal

Form 8.3 - H&T Group plc - GB00B12RQD06 - Octopus Invesments

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TransDigm Group and Servotronics announce acquisition agreement

Form 8.3 - Craneware plc - Octopus Investments

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Gladstone Investment acquires Smart Chemical Solutions

Form 8.3 - [CRANEWARE PLC - 16 05 2025] - (CGAML)

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HomesToLife Ltd Announces Closing of Acquisition of HTL Marketing Pte Ltd

Singapore, May 19, 2025 (GLOBE NEWSWIRE) -- HomesToLife Ltd (NASDAQ: HTLM) (“HomesToLife” or the “Company”), the holding company of one of the leading producers of home furniture products based in Singapore with sales across Asia-Pacific, Europe and North America regions, today announced the successful closing of the acquisition of 100% of equity interests in HTL Marketing Pte Ltd (“HTL Marketing”), a leading B2B procurer and supplier of premium upholstered sofas and leather materials for sofa manufacturing. The acquisition of HTL Marketing was announced on May 5, 2025.

AMD to sell ZT Systems' data center infrastructure manufacturing unit to Sanmina for $3B

Capital One closes Discover Financial acquisition

Regeneron to buy 23andMe for $256M in court-supervised sale

Form 8.3 - Primary Health Properties

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Blackstone to buy TXNM Energy in $11.5B deal

Regeneron Enters into Asset Purchase Agreement to Acquire 23andMe® for $256 Million; Plans to Maintain Consumer Genetics Business and Advance Shared Goals of Improving Human Health and Wellness

Purchase is subject to bankruptcy court and regulatory approvals

Dimensional Fund Advisors Ltd. : Form 8.3 - ASSURA PLC - Ordinary Shares

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Man Group PLC : Form 8.3 - Dalata Hotel Group plc

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Man Group PLC : Form 8.3 - Urban Logistics REIT plc

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Invesco Ltd: Form 8.3 - Qualcomm Incorporated; Public dealing disclosure

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We are now Avenga

Qinshift and Avenga unite under one brand, strengthening global capabilities in AI, custom software development, and enterprise technology.

Republic of Iceland launches cash tender offer

19 May 2025. The Republic of Iceland (the "Offeror") announces today an invitation (such invitation, the "Offer") to holders of its €500,000,000 0.625 per cent. Notes due 3 June 2026 (ISIN: XS2015295814) (of which €500,000,000 in aggregate nominal amount is outstanding as at the date hereof) (the "Notes") to tender their Notes for purchase by the Offeror for cash.

International Petroleum Corporation Announces Results of Normal Course Issuer Bid

International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 146,900 IPC common shares (ISIN: CA46016U1084) during the period of May 12 to 16, 2025 under IPC’s normal course issuer bid / share repurchase program (NCIB).

Endeavour Announces Offer to Purchase for Cash any and all Senior Notes Due 2026

Key deals this week: Pan American Silver, Thoma Bravo, DICK'S Sporting Goods, DigitalBridge and more

BT in advanced talks to sell TNT Sports stake to Warner Bros. Discovery: FT

Royalty Pharma Completes the Acquisition of Its External Manager

NEW YORK, May 16, 2025 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced that it has successfully closed the acquisition of its external manager, RP Management, LLC (“RP Management”). The acquisition received overwhelming support from Royalty Pharma’s shareholders, with 99.9% of votes cast in favor of the transaction.

Titan Machinery Completes Acquisition of Farmers Implement & Irrigation

WEST FARGO, N.D., May 16, 2025 (GLOBE NEWSWIRE) -- Titan Machinery Inc. (Nasdaq: TITN), a leading network of full-service agricultural and construction equipment stores, today announced that it has completed the acquisition of the dealership assets of Farmers Implement & Irrigation, a two-store New Holland dealership in Brookings and Watertown, South Dakota. The transaction closed on May 15, 2025. For the full calendar year 2024, Farmers Implement & Irrigation generated revenue of approximately $20 million.

Surgery Partners gains amid report of AMSURG sale process

Anaqua 收購 RightHub，以加速推進公司在全球發展

此次收購彰顯 Anaqua 致力為全球創新和知識產權專業人士度身打造解決方案的承諾 此次收購彰顯 Anaqua 致力為全球創新和知識產權專業人士度身打造解決方案的承諾

Anaqua 收购 RightHub，加速全球业务增长

此次收购彰显 Anaqua 致力于为全球创新和知识产权专业人员提供定制化解决方案的承诺 此次收购彰显 Anaqua 致力于为全球创新和知识产权专业人员提供定制化解决方案的承诺

Anaqua adquiere RightHub para acelerar su crecimiento global

La adquisición subraya el compromiso de Anaqua de ofrecer soluciones personalizadas a profesionales de innovación y propiedad intelectual en todo el mundo La adquisición subraya el compromiso de Anaqua de ofrecer soluciones personalizadas a profesionales de innovación y propiedad intelectual en todo el mundo

Anaqua, RightHub 인수해 글로벌 성장에 박차 가한다

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Marbanc International to Acquire Cars.net Automotive Research Platform

NEW YORK, May 16, 2025 (GLOBE NEWSWIRE) -- New York Global investment firm Marbanc International has entered into a 30-day exclusive due diligence period to acquire automotive research platform Cars.net.

FCC approves Verizon's purchase of Frontier Communications

Analysts say the Charter-Cox merger is a 'no-brainer' and 'major positive'

Form 8.3 - H&T Group Plc

Downing LLPLEI: 213800G3X76VBG9SB50416 May 2025Form 8.3 re. H&T Group Plc

Form 8.3 - Warehouse REIT Plc

8.3

Form 8.3 - Dalata Hotel Group plc

FORM 8.3

Fresnillo sells majority of MAG Silver shares as Pan American deal proceeds

Form 8.3 - H&T Group plc - GB00B12RQD06 - Octopus Investments

FORM 8.3

De Tomaso launches €1.6m P72 Luxury Hypercar as ESGL Business Combination Nears Completion

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Rio Silver Receives Conditional Approval for Acquisition of Mamaniña Exploraciones S.A.C.

VANCOUVER, British Columbia, May 16, 2025 (GLOBE NEWSWIRE) -- Rio Silver Inc. (the “Company”) (TSX.V: RYO) (OTC: RYOOF) announces that, further to its announcement on March 26, 2025, it has received from the TSX Venture Exchange (the “Exchange”) conditional acceptance (the “Conditional Approval”) of the proposed transaction (the “Transaction”) with Peruvian Metals Corp. for the acquisition of Mamaniña Exploraciones S.A.C.

Invesco Ltd: Form 8.3 - QUALCOMM Inc; Public dealing disclosure

FORM 8.3

BioMarin to buy enzyme therapy developer Inozyme in $270M all-cash deal

Strathcona Resources makes C$5.9B takeover offer for MEG Energy