The UK Times (gated) interview with Prime Minister Starmer. From the report (bolding is mine):The prime minister is expected to ­announce broad plans for a youth mobility deal on Monday as part of a wider agreement with the European UnionThe deal will bring Britain into the closest alignment with the EU since Brexit and will cover trade, agriculture, security and defence. Starmer said that the deal, to be ­announced at a meeting at Lancaster House in London, would be a “really ­significant moment”. He added that the effects would be “measured in the ­pockets of working people” in the form of better job prospects and higher living standards.As noted, The Times is gated but the link to the article is above. There is a lot more detail, if you can access it. There are other reports that are not gated, but since the interview was with The Times they are not as detailed. Link here though:(Sky) The government is set to host EU leaders in London on Monday as part of its efforts to "reset" relations post-Brexit.(BBC) As well as youth mobility, issues such as fishing rights are also expected to be discussed during Monday's meeting - the first since Brexit.Starmer added that:“Nobody wants to relitigate the last nine years"LOL. There are plenty of folks in the UK doing just that. This article was written by Eamonn Sheridan at www.forexlive.com.

Australian Prime Minister Albanese responded to questions from media, the Australian Financial Review (gated) , on Saturday.will attend Pope Leo XIV’s inauguration mass in Rome will meet with European Commission President Ursula von der Leyen on the sidelineswill renew leader-level discussions for an Australia-European free trade dealAustralia would not strike a deal with the EU “at any price”but, “We’re up for a deal that’s in Australia’s national interest”Albanese pointed to the Australia-UK free trade deal as a template for a good dealNegotiations for a free trade agreement with Europe stalled in 2023. This article was written by Eamonn Sheridan at www.forexlive.com.

ECB President Christine Lagarde says the euro's recent appreciation against the dollar—despite global uncertainty—is "counterintuitive, but justified" by a growing loss of confidence in U.S. policymaking.Lagarde spoke in an interview with French media, La Tribune Dimanche, published on Saturday:“It’s impressive to note that in a period of uncertainty when we should normally have seen the dollar appreciate significantly, the opposite happened. It’s counterintuitive, but justified by the uncertainty and loss of confidence in US policies among certain segments of the financial markets.”Lagarde framed this as an opportunity for Europe to strengthen integration citing:the bloc’s perceived stabilityindependent central bankcredible institutionsComparing the EU with the US:“At a time when we see the rule of law, the judicial system, and trade rules being called into question in the US... Europe is rightly perceived as a stable economic and political area”Lagarde noted the need for efforts to create a unified capital market, saying that their is a "groundswell" of support for this. ---I know Lagarde is talking her book, but proclaiming Europe as a stable political arena is a bit of a stretch. Comments welcome!I think perhaps she should have mentioned the role Germany's fiscal bonanza played in EUR gains earlier this year:The removal of the German debt brake is a gamechanger Europe is ready to spend againThe reaction from financial markets is unequivocal on the new German government proposal to lift the debt brake and spending as much as 500 billion euros on infrastructure.---As an aside, there are some moves in weekend markets. Weekend markets are very, very thin and illiquid. Its hard to emphasise how thin and illiquid. Take care reading too much into them. Howevever, there is some late news from Friday to be aware of that's shoving things around:Friday bombshell: Moody's downgrades US credit ratingBe sure to join us for early Asia on Monday as institutional markets reopen for the week. This article was written by Eamonn Sheridan at www.forexlive.com.

European Central Bank Board Member Schnabel spoke on Saturday, expressing a cautious approach to further rate cuts. Schnabel cited lingering uncertainties from global trade tensions and inflation dynamics. “We need to maintain a steady hand for now”warned that falling energy prices and slowing global growth may lower inflation in the short term but could reverse in the medium term.“We can leave rates broadly at the level they are at now and are confident that we can also maintain price stability in this way.” On June's decision (the Bank meet on the 4th and 5th, markets are expecting a rate cut) Schnabel refrained from confirming her outright support:“It’s to be seen what will happen” Schnabel remarked also on the euro’s recent appreciation:“We now have a historic opportunity to further strengthen the international role of the euro”. To support that goal she reiterated the need for a unified European bond market and revisiting the idea of joint debt issuance. “I do think that it’s not fundamentally wrong to also think about joint debt to finance public goods in Europe”Schnabel made similar 'steady hand' comments earlier last week:ECB should keep steady hand, hold rates close to current levels, Schnabel says This article was written by Eamonn Sheridan at www.forexlive.com.

Latvian central bank governor, and therefore a Governing Council member of the European Central Bank, Martins Kazaks spoke on Friday with CNBC, ICYMI:In brief, he said on Friday that interest rates may be close to their terminal level, though uncertainty remains high and further changes to the policy outlook are possible: “We are, by and large, within the baseline scenario” (the ECB inflation target is 2%)“And if the baseline scenario holds, then I think we are relatively close to the terminal rate already”"a couple of more cuts may be possible"Kazaks said the outlook will depend on incoming data on developments in the economy“The important thing is to see where the trade talk and the trade story take us, and then of course we'll act” Kazaks expressed a similar view around three weeks ago:ECB's Kazaks urges caution on further European Central Bank rate cutsThe European Central Bank monetary policy Governing Council meets next on June 4 and 5. This article was written by Eamonn Sheridan at www.forexlive.com.

Mon: Canadian Holiday (Victoria Day), EU-UK Summit; Chinese Industrial Output (Apr), Retail Sales (Apr), House Prices (Apr), EZ HICP Final (Apr)Tue: PBoC LPR, RBA Policy Announcement, Norges Bank Financial Stability Report; EZ Current Account (Mar), Consumer Confidence Flash (May), Canadian CPI (Apr), German PPI (Apr), New Zealand Trade (Apr)Wed: Japanese Trade Balance (Apr),UK CPI (Apr), US MBA (w/e 12th May)Thu: ECB Minutes (Apr), CBRT Inflation Report; Australian Flash PMIs (May), Japanese Flash PMIs (May), UK PNSB (Apr), EZ, UK & US Flash PMIs (May), US Initial Jobless Claims (w/e 17th May), Canadian PPI (Apr)Fri: EZ Negotiated Wage Rates (Q1), Japanese CPI (Apr), German Detailed GDP (Q1), UK Retail Sales (Apr), US New Home Sales (Apr), Canadian Retail Sales (Mar)EU-UK Summit (Mon):Representatives are meeting in London for a Brexit reset summit. Ahead of the gathering, the European Council has outlined the bloc’s priorities as defence/security. As usual for such meetings, fishing and youth mobility will draw significant headline attention and often serve as a barometer for the tone of talks, as they are typically the issues with the greatest divergence of views. The EU is sending Commission President von der Leyen, Council President Costa and diplomat Kallas to the summit. From the UK, PM Starmer will be the main representative. Thus far, the main sticking points are reportedly on the mentioned points of fishing, according to Bloomberg. Overall, officials from both sides have been upbeat on signing a deal of some form to improve relations, but it remains to be seen how far this will go, what concession(s) either side may have to give and, perhaps most importantly, if it has any implications for UK-US and/or EU-US talks.Chinese Activity Data (Mon):China will release April activity data on Monday, including Industrial Production, Retail Sales, Fixed Asset Investment, and the national Unemployment Rate. The release will be the first full data set to capture the economic impact of April’s tariff escalation, though sentiment has since improved following the temporary 90-day tariff truce announced last week, potentially tempering the importance of the series. In terms of prior readings, Industrial Production Y/Y printed at 7.7% in March, Industrial Production YTD at 6.5%, Retail Sales Y/Y at 5.9%, Retail Sales YTD at 3.61%, Fixed Asset Investment YTD at 4.2%, Unemployment Rate at 5.2%, and House Prices Y/Y at -4.5%. For April, both Industrial Output and Retail Sales are seen moderating to 5.5%. Desks expect the data to reflect tariff-related disruptions, particularly in export-linked manufacturing and private-sector investment. However, the recent easing in trade tensions may limit downside pressure in upcoming prints. While the rollback of US tariffs on China to 30% (from 145%) offers temporary relief, analysts suggest structural challenges in consumption and property remain unresolved. Any weakness in retail or employment figures may strengthen the case for further easing measures.PBoC LPR (Tue):PBoC will announce China’s Loan Prime Rates next week which are expected to be reduced by 10bps with the 1-year LPR (the rate most new loans are based on) currently at 3.10% and the 5-year LPR (reference for mortgages) currently at 3.60%. Expectations for reductions are not much of a surprise given that PBoC Governor Pan had announced sweeping measures to ease policy earlier this month including a 50bps RRR cut and 10bps cut to the policy interest rate with the 7-day Reverse Repo lowered by 10bps to 1.40% and the Standing Lending Facility reduced by 10bps for all tenors. Pan also announced they will lower re-lending rates, interest rates on structural policy tools, and the personal housing provision fund rate all by 25bps, as well as guide commercial banks to lower deposit rates. Pan also stated that China will use multiple policy tools to make dynamic adjustments and is to set up CNY 500bln in re-lending loans for elderly care and service consumption, while the total quota of two monetary policy tools to support capital markets was optimised to CNY 800bln and there were additional CNY 300bln of funds each for tech financing and Rural/SME lending. As such, the RRR cut was estimated to have released CNY 1tln in long-term liquidity, while Pan also stated that the 10bps cut in the policy interest rate is expected to drive down the Loan Prime Rates.RBA Announcement (Tue): The RBA is expected to cut rates at its policy meeting next week with money markets pricing in a 98% likelihood for the Cash Rate to be lowered by 25bps to 3.85% and just a 2% chance for rates to be maintained at the current level of 4.10%. As a reminder, the RBA decided to maintain the Cash Rate at the last meeting in April which was unanimously expected given that the central bank had just delivered a cut at the prior meeting in February and voiced cautiousness regarding future cuts. The language from the central bank provided very little clues regarding future policy adjustments as it noted that the outlook remains uncertain and underlying inflation is moderating, while sustainably returning inflation to target is the priority and the board’s assessment is that monetary policy remains restrictive. RBA also said that monetary policy is well-placed to respond to international developments if they were to have material implications for Australian activity and inflation. It also noted the continued decline in underlying inflation is welcome but there are risks on both sides with the board cautious about the outlook and it acknowledged inflation could move in either direction. Furthermore, the minutes from that meeting revealed the RBA thought it was not yet possible to determine the timing of the next move in rates nor was it appropriate at that stage for policy to react to potential risks. However, it stated that the May meeting would be an opportune time to reconsider with the decision not predetermined. Governor Bullock commented during the post-meeting press conference that the Board had not made up its mind on a May move, was not endorsing the market path on future rate cuts and did not open the door to a May rate cut. Nonetheless, the market is heavily anticipating a cut next week to support the economy and ease the burden on borrowers, with big 4 bank NAB even calling for a jumbo 50bps move, while recent data releases including contractions in household spending and building approvals, as well as inflation residing in the RBA’s 2-3% target, supports the case for the RBA to resume it rate reductions.Canada CPI (Tue):The April release will be published on Tuesday. The previous data for March showed the rate of headline CPI easing to 2.3% Y/Y (prev. 2.6%), driven by lower gasoline and travel prices; core CPI eased to 2.2% Y/Y (prev. 2.7%). The Bank of Canada's meeting minutes, released at the end of April, noted that the Governing Council agreed price pressures beyond April were hard to predict. Members favouring a rate cut highlighted the need for timely action, citing lags in policy transmission, anchored inflation expectations, muted near-term inflation risks, and economic weakness. Those favouring no change warned a further cut could be premature due to potential inflation pressure from tariffs. Money markets are currently pricing almost two 25bps rate reductions from the BoC by the end of the year, with the first fully discounted move seen by July.UK CPI (Wed):April’s release is expected to see a marked jump. Upside is expected to be driven by price hikes at various utility providers, tax increases and then the usual setting of index prices in April; inflationary effects from the tariff situation are factoring into this. The BoE expects this dynamic to continue in the months ahead and inflation to hit 3.7% by September, partially driven by the aforementioned factors. Thereafter, the BoE looks for inflation to fall back to target; in the meantime, the May forecasts look for inflation to be at an average of 3.4% in Q2 and 3.5% in Q3. For April, Pantheon expects the headline figure to increase to 3.6% Y/Y (prev. 2.6%), surpassing the latest BoE forecast of 3.4%. On the BoE’s peak forecast of 3.7% in September, Pantheon believes risks are skewed to the upside as upcoming cost pressures could spark follow-up price increases. Back to April, Pantheon expects Services to tick up to 5.1% Y/Y (prev. 4.7%). Metrics will be digested by an increasingly divergence MPC; however, we will receive both the May and June CPI series before the June 19th policy announcement, an announcement that is expected to see rates unchanged with the focus instead on August for the next potential cut, as it stands markets ascribe around a 55% chance of a 25bps cut.ECB Minutes (Thu):April’s meeting saw a 25bps cut as expected and the old language around restrictiveness was removed. This took the ECB to the top end of its 1.75-2.25% neutral rate estimate. Accompanying forward guidance was unsurprisingly non-committal, though the statement did highlight increased uncertainty and an associated confidence impact that is “likely to have a tightening impact on financing conditions”; on this, participants were attentive to any hints around an offsetting policy response (i.e. dovish action). Just after the meeting, sources reported the decision to cut was unanimous. Lagarde didn’t add too much, aside from stressing no argument was made for 50bps or other stimulus, though she made the point that they are viewing tariffs as a demand shock. From the Minutes, we are attentive to whether 50bps was discussed at all (Lagarde said there was no argument for it), whether there were any relatively firm views on a June cut expressed as sources have suggested, and if any opposition to the decision to remove language around restrictive was expressed. As usual, the Minutes will be regarded as stale and likely even more so than normal given recent significant tariff developments.EZ Flash PMI (Thu):The Eurozone releases its Flash PMIs for May on Thursday, Manufacturing expected at 49.5 (prev. 49.0), Services at 50.3 (prev. 50.1) and Composite at 50.8 (prev. 50.4). The prior readings saw Manufacturing at 49.0, Services at 50.1, and the Composite at 50.4. While April’s data showed only mild improvement, recent survey indicators such as Sentix and ZEW have rebounded, suggesting the initial wave of pessimism following the US “Liberation Day” tariffs may have moderated. Oxford Economics notes the strong Q1 German industrial output was driven by front-loaded US demand in autos and pharma, raising the risk of a Q2 correction as that temporary boost unwinds. The temporary 90-day tariff truce between the US and China has also eased market anxiety around global trade spillovers, though uncertainty around US-EU trade relations remains elevated, with US Treasury Secretary Bessent recently suggesting progress was slow. From a policy perspective, the ECB is widely expected to cut rates in June, a weak PMI print would likely reinforce that view.UK Flash PMI (Thu):The UK will release Flash PMIs for May on Thursday, Manufacturing is seen at 45.9 (prev. 45.4) and Services at 49.5 (prev. 49.0). UK PMIs saw a sharp deterioration in April, with the Composite PMI at 48.2 (exp. 50.4, prev. 51.5), marking the first contraction in private sector output since October 2023. The Services PMI came in at 48.9 (exp. 51.5, prev. 52.5), while Manufacturing dipped to 44.0 (exp. 44.0, prev. 44.9), its lowest level in nearly three years. S&P Global cited falling domestic and external demand, with new orders declining for a fifth consecutive month and export business contracting at the fastest rate since May 2020. With the US-China 90-day tariff truce now in place, desks expect some relief on trade sentiment, but domestic cost pressures and demand fragility persist. A sub-50 composite print in May would reinforce the narrative of a stalling UK recovery and potentially support some expectations for a summer/late-summer BoE rate cut.Japanese CPI (Fri):Japan will release national CPI data for April on Friday, the core Y/Y is expected to tick up to 3.4% (prev. 3.2%). The prior national figures showed Core CPI Y/Y at 3.2%, headline CPI Y/Y at 3.6%, and M/M CPI at 0.3%. Desks expect the April data to reflect residual effects from the reduction in energy subsidies and fresh fiscal year price hikes, particularly in food and education. Tokyo CPI — considered a leading indicator — accelerated to 3.4% Y/Y (vs. exp. 3.2%, prev. 2.4%), while the “core-core” index (ex-fresh food and fuel) jumped to 3.1% (prev. 2.2%), raising pressure on the BoJ. While policymakers kept rates steady at the May 1st meeting, recent commentary suggests a readiness to hike further if inflation remains sticky. However, global risks, especially from US tariffs and softening external demand, may limit the BoJ’s near-term scope. It was reported that Japan’s top trade negotiator Akazawa could travel to Washington next week for a third round of trade talks, according to Reuters sources.UK Retail Sales (Fri):The first hard data read on the sector under Trump’s tariffs, an April series which follows a strong Q1. For April, Investec expects further growth in sales volumes but at a more moderate pace than seen last time, forecasting 0.3% (prev. 0.4%) M/M; attributing much of this expected upside to good weather and the increase in the National Living Wage. In terms of other leads, the Barclaycard consumer spending report for the period saw the largest uplift in card spending since June 2023, driven by favourable weather and the Easter period. Elsewhere, NIQ/GfK Consumer Confidence fell in the month amid an increase in multiple utilities and concerns around renewed high inflation. Overall, the Retail series is expected to remain robust but with a slightly slower pace of sales volume growth as the favourable influence of good weather is offset by utility increases and price concerns.This article originally appeared on Newsquawk. This article was written by Newsquawk Analysis at www.forexlive.com.

The US government is in the middle of discussing a generational tax cut and Moody's just voted.The ratings agency downgraded the full faith and credit of the USA to Aa1 from Aaa. That means that all three ratings agencies have now removed the US top rating.The drop comes a year after Moody's lowered its outlook on the US. That was a sign this could be coming but the usual 18-24 month guideline was spend up so that it would be lobbed at a high stakes time. Moody's says the new rating is stable but also highlights the obvious problem."Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs," Moody's said.They highlighted the upcoming budget bill to note that it doesn't see any meaningful multi-year reductions in mandatory spending under the current proposals. With that, they say the USA's fiscal performance is likely to deteriorate relative to other highly-rated sovereigns.“While we recognize the US’ significant economic and financial strengths, we believe these no longer fully counterbalance the decline in fiscal metrics,” Moody’s wrote.In terms of one of those metrics, they see US dept-to-GDP rising to about 134% of GDP in 2035 compared to 98% last year.There was some very late moves in the market on this and I'd expect it's negative for the dollar on Monday and positive for gold. This article was written by Adam Button at www.forexlive.com.

USD GBP AUD EUR CNY

UMich May prelim consumer sentiment 50.8 vs 53.4 expectedUS April housing starts 1.361m vs 1.365m expectedUS April import prices +0.1% vs -0.4% expectedJapan not keen for compromise in US trade talksTrump tax bill fails in House panelBaker Hughes US oil rig count -1Federal Reserve said to plan cuts of 10% of workforce over next several yearsSNB's Schlegel: Switzerland is not a currency manipulatorMarkets:WTI crude oil up 88-cents to $62.50US 10-year yields down 2.3 bps to 4.43%Gold down $46 to $3193S&P 500 up 0.6%USD leads, CHF lagsThe FX market was lacklustre on Friday with no real driving force behind any of the moves. An earlier report about Japan balking at US trade negotiations didn't get much traction and the market was middling.It eventually sprang to life after the UMich report, which once again showed a dismal reading on consumer confidence but it was likely the continued surge in inflation expectations that caught the market's attention. That reversed a drop in yields and pared some of the Fed cut pricing seen in the market.With that, the US dollar found some decent bids and EUR/USD sank to 1.1131 from 1.1200. It was a broad move in the dollar that included a rise in USD/JPY to 146.05 from 145.45.As the day wore on, some US dollar sellers returned but the moves were modest.The bigger conclusion from markets this week is that the trade war has likely peaked, and I'm on board with that thinking. That doesn't mean it will be easy from here. It was a refreshingly quiet week in the latter half as Trump went to the Middle East and that helped to lift risk assets. It's probably too much to ask for more of the same next week.Have a great weekend. This article was written by Adam Button at www.forexlive.com.

The S&P 500 started off the week on a positive note as US-China tariffs were slashed. The buying never really stopped as the index climbed every day this week.Friday's changes:S&P 500 +0.7%Nasdaq Comp +0.45%Russell 2000 +0.9%DJIA +0.7%S&P TSX Comp +0.3%On the week:S&P 500 +5.1%Nasdaq Comp +7.0%Russell 2000 +4.5%DJIA -0.2%S&P TSX Comp +2.4% This article was written by Adam Button at www.forexlive.com.

The FT reports that the US and EU have begun trade talks after recently exchanging negotiating documents that touch on tariffs, digital trade and investment.The report says USTR Greer threatened the EU with reapplying 20% tariffs.This is going to be a tough one as many European leaders are saying they will not accept a 10% floor or anything along the lines of what the UK agreed to.There was talk about deals with Japan and South Korea this week but the former appears to have walked away from the table, according to a report today.The EU trade commisssioner spoke with Greer on Thursday and said he hoped to meet net month in Paris. This article was written by Adam Button at www.forexlive.com.

Monday (May 19) Markets closed for Victoria Day – nothing scheduled.Tuesday (May 20) – CPI dayGoC bill auctions: 3-mth C$17.6 bln, 6-mth C$6.2 bln, 1-yr C$6.2 bln.08:30 ET – April CPI (consensus)Headline m/m -0.2 % (prior +0.3 %)Headline y/y 1.6 % (prior 2.3 %)Core Median y/y 2.9 % (prior 2.9 %)Core Trim y/y 2.8 % (prior 2.8 %)I think the Bank of Canada will be more-focused on the core measures here but the headline will certainly give them cover to cut. Right now the market is pricing in a 64% chance rates are lowered by 25 bps.Wednesday (May 21)GoC auction: C$3 bln 30-yr Canadas reopening.Thursday (May 22)08:30 ET – April producer pricesIndustrial product prices m/m (prior +0.5 %)Raw materials prices m/m (prior -1.0 %)15:15 ET – BoC Deputy Gov. Toni Gravelle – text & audience Q&A could shift June odds.Friday (May 23) – Retail wrap-up08:30 ET – March retail sales (consensus)Headline m/m -0.3 % (prior -0.4 %)Ex-auto m/m – no consensus yet (prior +0.5 %)USD/CAD looks to be wrapping up the week just below 1.40. This article was written by Adam Button at www.forexlive.com.

The big week for stock markets on the US-China climb-down is continuing late on Friday. The S&P 500 has edged to a fresh session high up 33 points, or 0.6%.Trading has been lighter late in the week but the momentum trade has continued to work.Technically, there isn't much (anything?) standing in the way of a return to the February highs. The AI trade is working again as well. This article was written by Adam Button at www.forexlive.com.

It's a light week on the economic calendar with the S&P PMIs as the only real market movers. I expect more 'wait-and-see' from the Fed speakers.Aside from what's listed here, we will be waiting for the US to strike some trade deals and House Republicans are aiming to pass Trump's budget. Note that the following Monday is a holiday so next Friday afternoon should be quiet.Monday (May 19)Fed-fest:08:30 ET Bostic (voter)08:45 ET Jefferson + Williams (vice-chair, voter)13:15 ET Logan (Dallas, non-voter)13:30 ET Kashkari (Minneapolis, non-voter)Tuesday (May 20)08:30 ET – Philadelphia Fed non-manufacturing (May) – no consensus (prior -42.7).More Fedspeak:09:00 ET Bostic & Barkin (both voters)09:30 ET Collins (Boston)13:00 ET Musalem (St Louis)19:00 ET Hammack + Daly (both voters)Wednesday (May 21)Treasury: $16 bn 20-yr auction.Fed line-up: 09:15 ET Barkin + Bowman (voter), 14:00 ET Williams.Thursday (May 22) – the data heavy day08:30 ET – Initial jobless claims: consensus 226 k (prior 229 k).08:30 ET – Chicago Fed national activity index (Apr) – no consensus (prior -0.0).09:45 ET – S&P flash PMIs (May)Services 50.6 vs 50.8 priorManufacturing 49.8 vs 50.2 priorComposite – no consensus.10:00 ET – Existing-home sales (Apr)m/m +3.2 % (prior -5.9 %)No street call on the SAAR headline yet.Treasury: $18 bn 10-yr TIPS reopening.Friday (May 23)10:00 ET – New-home sales (Apr)SAAR 705 k (prior 724 k)m/m +2.6 % after -4.0 %. This article was written by Adam Button at www.forexlive.com.

Credit Agricole warns that EUR/USD has rallied too far, too fast, leaving it exposed to multiple downside risks. With market optimism running ahead of fundamentals, the Euro may struggle to hold its recent gains in the face of slowing inflows, geopolitical fragility, and macroeconomic headwinds.Key Points:Slowing Equity Inflows:European equity inflows have started to decelerate, reflecting persistent concerns over the Eurozone growth outlook, which could reduce demand for the EUR.Ongoing Geopolitical Risks:A durable ceasefire in Ukraine remains elusive. Continued geopolitical uncertainty poses a structural headwind to confidence and economic stability in the region.Stronger EUR = Softer Growth & Inflation:The EUR's year-to-date strength may itself become a drag on Eurozone growth and inflation, prompting the ECB to deliver deeper rate cuts than currently priced.Overvaluation Risk:EUR/USD appears overvalued relative to both the EUR-USD rate spread and short-term fair value models, signaling potential for correction if sentiment shifts.Conclusion:Even with a packed week of Eurozone data and ECB speakers ahead, Credit Agricole expects the ECB to maintain a cautious tone. As the relative rate disadvantage persists and fundamentals catch up with sentiment, EUR/USD may be prone to a pullback in the near term.For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. This article was written by Adam Button at www.forexlive.com.

The opportunity to buy 30-year Treasuries yielding 5% briefly presented itself this week for the fourth time this year. All the other attempts were quickly beaten back and that same knee-jerk unfolded this time, driving yields to as low as 4.86% today.The UMich report though seemed to underline ongoing angst about inflation and led to a bounce to 4.90%. If it holds, that will be the second-highest weekly close since October 2023 (the Liz Truss fiasco). Beyond that you need to go to before the financial crisis.In short, the opportunity to buy bonds at these kinds of rates is rare and the market hasn't forgotten that.There was probably some good news on the fiscal front for bonds today as some Republicans pushed back on the huge deficit increase that's coming in Trump's budget. That said, he's right to be highlighting that they're just grandstanding and will ultimately support it. This article was written by Adam Button at www.forexlive.com.

Total rigs down 2 to 576. It's the third consecutive weekly drop in rigs.The oil market is in flux at the moment as OPEC brings back more barrels than anticipated and Trump zig-zags on trade policy. Natural gas is looking healthier though with days of US supply down about 18% y/y. This article was written by Adam Button at www.forexlive.com.

Someone the Federal Reserve system employs 26,000 people. That seems like an awful lot of people to manager currency, process checks and supervise.I think they'll be fine with a 10% haircut. This article was written by Adam Button at www.forexlive.com.

The vote failed in the Budget Committee, 16-21.There is a strong belief in markets that they will twist the right arms in order to get it through when it matters. As it stands, this is putting the US on the path to another 1 or 1.5 percentage point increase in the deficit, or above 7% of GDP.The votes against it want to cut Medicaid, which looks like the battle ground at the moment.It looks like there won't be another vote today. This article was written by Adam Button at www.forexlive.com.

Closing changes on the day:German DAX, +0.2%France's CAC +0.3%UK's FTSE 100 +0.6%Spain's Ibex +0.8% Italy's FTSE MIB +0.4%On the week:German DAX, +1.1%France's CAC +1.7%UK's FTSE 100 +1.5%Spain's Ibex +3.6% Italy's FTSE MIB +3.1%.The Liberation Day declines have been nearly erased everywhere and Italy, Spain and Germany finished with record closing highs. I think this masks the extent of the battle that will unfold between the EU and US on trade, as I don't see any easy path to a compromise there. This article was written by Adam Button at www.forexlive.com.

While a temporary truce between the U.S. and China has offered some relief to markets, BofA maintains a bearish outlook on the dollar. The recent bounce is seen as tactical rather than structural, with longer-term headwinds intact.Key Points:Policy uncertainty persists:The pause in trade tensions is temporary. Policy direction remains erratic and could reintroduce volatility later this summer as deadlines and tariff suspensions expire.Lingering economic drag:Even with de-escalation, the U.S. economy is now on a slower growth path than pre-trade war due to delayed investment and weakened business confidence.Current account deterioration:A narrowing U.S. current account surplus is reducing investment inflows and undermining support for the dollar.Foreign asset reallocation:Institutional real money investors are reassessing exposure to U.S. assets and the dollar, contributing to persistent capital outflows.Fiscal uncertainty:An unpredictable fiscal trajectory adds risk, with potential implications for long-term Treasury issuance, inflation expectations, and investor sentiment.Weaker-dollar bias from policymakers:The Trump administration continues to favor lower rates and a softer dollar, which adds to long-term depreciation pressures.Conclusion:BofA remains bearish on the USD, despite tactical reprieves. Structural forces—ranging from weaker capital inflows to policy unpredictability—are seen as increasingly difficult to reverse, suggesting a lower dollar over the medium term with a choppier path forward.For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. This article was written by Adam Button at www.forexlive.com.

The US dollar is bid across the board at the moment as yields rebound from earlier lows. US 2-year yields were at 3.92% earlier today but have ticked up to 3.96%.The market has grown more-hesitant about pricing in rate cuts after the UMich consumer sentiment report showed a surge in inflation expectations. One-year inflation rose to 7.3% from 6.5%.It's notable that this was mostly before Trump backtracked on China tariffs so these numbers will assuredly come down in the final report or next month. We could also be seeing some flows ahead of the 4 pm London fix, so keep an eye out for a USD reversal after that. This article was written by Adam Button at www.forexlive.com.

March factory orders revised to +3.4% from +4.3%Ex transport to -0.4% from -0.2%Nondefense capital goods orders ex air -0.2% vs +0.1%The amount of times this report is revised is dizzying but this will be a drag on Q1 GDP when it's revised. This article was written by Adam Button at www.forexlive.com.

Prior was 52.2Current conditions 57.6 vs 59.6 expectedExpectations 46.5 vs 48.0 expected1-year inflation 7.3% vs 6.5% prior 5-year inflation 4.6% vs 4.4% priorThis is a poor reading. I would have expected to see some recovery after Trump reversed the Liberation Day tariffs but that didn't show up in this round. The pause in China tariffs should be a tailwind in the month ahead. This article was written by Adam Button at www.forexlive.com.

This was out earlier but it's an important development:The FT reports that Japan is holding out for a better deal with the US, including a full removal of 25% auto tariffs. It says a deal is now unlikely to be reached before elections due in late July, which is beyond the 90-day delay the US imposed (expiration is July 8).There had been reports this week that Japanese and South Korean deals would be soon announced, though there is a meeting still planned for next week and the G7 in Canada will be closely watched. This article was written by Adam Button at www.forexlive.com.

Each side will set out its vision for a future ceasefire, in detailFrom what I understand, Russia asked for Ukraine unconquered territory so the question is whether Ukraine wants to keep talking.This is from Axios:The Russian delegation demanded the complete withdrawal of the Ukrainian Armed Forces from 4 regions, and when the Ukrainians refused, ours stood up and declared that next time they would have to leave 5 (including Dnipropetrovsk)Doesn't sound promising. This article was written by Adam Button at www.forexlive.com.

S&P 500 futures are up 0.2% today as today is the monthly equity and single-stock options expiration. Those who bought on April 7 are certainly feeling good about those calls.Yields are coming down and that's taking away one risk from stock markets in what's been an incredible run. Trump's trip to the Middle East has also made it pleasantly quiet on the domestic front.A gain today would be the 5th in a row and that comes on the heels of a nine-day rally that was only broken up by a small loss on May 9. There has only been one negative day since April 21. This article was written by Adam Button at www.forexlive.com.

Prior month 1.324MBuilding permits 1.412M vs 1.450M expectedPrior permits 1.467MYesterday's NAHB home builder sentiment reading matched the worst since 2022 and this week, US 30-year yields hit 5%.I don't see how the housing market provides any strength this year to the economy but that sector may be near a bottom. This article was written by Adam Button at www.forexlive.com.

Prior was -0.1% (revised to -0.4%)Export prices m/m +0.1%% vs -0.5% expected Prior was 0.0% (revised to +0.1%)Import prices y/y +0.1% vs +0.9% priorExport prices y/y +2.0% vs +2.4% priorHigher prices for nonfuel imports more than offset lower prices for fuel imports in April. This article was written by Giuseppe Dellamotta at www.forexlive.com.

The US dollar is pressuring key resistance against the Swiss franc near 0.85, with consolidation hinting at a potential breakout despite broader downtrend signals.

GBP/USD remains capped near 1.34 with a potential breakdown looming, as triple weekly shooting stars and oversold dollar conditions favor bearish continuation.

The Australian dollar slipped against the yen Thursday, with the 92 yen level acting as critical support; a bounce could trigger bullish reversal, but a breakdown risks deeper losses.

The NASDAQ 100 reversed early losses Thursday, signaling continued bullish momentum with 21,000 acting as strong support and 22,000 as the next resistance.

The Australian dollar reversed early gains Thursday, trapped in a consolidating range between 0.6350 and 0.65 as global sentiment and China’s outlook drive uncertainty.

Bitcoin remains bullish as buyers defend the $100K support level, with repeated hammer patterns suggesting a breakout toward $110K could be imminent.

Gold rebounded sharply from key support at the 50-day EMA, signaling potential for a breakout toward $3400 as bullish momentum and central bank demand return.

A lot of uncertainty around trade measuresEven if they are seemingly taking things one step at a time, they are finding it a bit tough to defy market expectations if need be. As things stand, another 25 bps rate cut in June is all but lined up. Traders are pricing in a ~91% probability of that as of now. This article was written by Justin Low at www.forexlive.com.

Protectionism and uncertainty are having a negative impact on US economic confidenceMy guess is that he's commenting on the euro's recent showing against the dollar in comparison. I think ECB policymakers can take in some comfort that EUR/USD did ease off from a high of around 1.1500 in April. But as the trade conflict is yet to be resolved, it's no time to be complacent just yet. This article was written by Justin Low at www.forexlive.com.

Crude oil remains volatile and pressured by oversupply concerns and resistance near the 50-day EMA, with key support at $60 and resistance at $65 shaping the outlook.

Technical analyst CRYPTOWZRD shared his latest take on Chainlink (LINK)’s price action in a recent post on X, pointing out that the asset ended the day with a neutral, indecisive close. While the session lacked a clear directional push, he noted that this kind of pause often precedes a sharper move. CRYPTOWZRD plans to monitor the intraday chart tomorrow for a potential reversal setup above the $15.85 mark, which he views as the first sign of bullish intent. However, a sustained move above $16.80 would offer a more confirmed breakout and a stronger long opportunity, indicating buyers are beginning to take control.  Can Chainlink Break Free From Current Stagnation? In his latest analysis, CRYPTOWZRD pointed out that LINK and LINKBTC closed today’s session indecisively, with daily candles reflecting weakness in the price action. While the lack of a clear direction is notable, both assets will need to see a surge in buying pressure from these levels in order to establish a new bullish trend. Related Reading: Chainlink Flashes Daily Buy Signal – Breakout Next? Particularly for LINKBTC, CRYPTOWZRD suggested that a potential push higher could materialize as Bitcoin dominance nears its resistance target. This rise in Bitcoin dominance could provide the necessary tailwind for LINK to gain momentum and transition into a bullish phase in tandem with broader market movement.  For LINK, the $16 level has become an important support zone as a bullish reversal from this area would add impulsive price action, potentially driving Chainlink toward the $19.50 resistance target in the near term. If Chainlink breaks decisively above $19.50, CRYPTOWZRD anticipates a more substantial rally that could propel the asset towards the $30 resistance level. However, these bullish outcomes hinge on a consistent upside pressure and a healthy price structure to support the move.  At this juncture, the market is waiting for the formation of the next trade setup, whether it be a strong reversal off support or a clean breakout above resistance, to provide momentum for the next significant move. Watch For Breakout Or Consolidation In conclusion, the analyst observed that today’s intraday chart was characterized by choppy and slow price action, with no clear direction established. Given the lack of momentum, the expectation is heightened volatility as the market works through these levels. However, the price needs to break decisively above the $16.80 intraday resistance level to trigger a solid long entry.  Related Reading: Chainlink Just Retested Key Support – Here’s Where Price Could Be Headed Next That said, there is also the possibility that price may move sideways in the near term, consolidating within a range. If that occurs, $15.85 will act as the key intraday support target, where the market could find temporary stability before deciding its next move. With the current indecisiveness in the market, the best course of action is to wait for a well-formed chart pattern or a clear setup that provides a high-probability trade entry. Featured image from Adobe Stock, chart from Tradingview.com

Bitcoin is still trading around the $103,000 mark, although the upward momentum it started in May has exhibited a slowdown in the past seven days. Although a short-term volatility is currently playing out, the long-term outlook is undoubtedly bullish. Related Reading: Analysis: Crypto Heats Up As $35 Billion Enters Market In Under A Month Some analysts are looking to long-term cycle indicators for direction. One such tool, the Golden Ratio Multiplier, which called the Bitcoin top in 2021, has resurfaced with another interesting top for the current Bitcoin cycle. Golden Ratio Multiplier Identified 2021 Top, Now Points To New Peak Taking to a post on social media platform X, popular crypto analyst CryptoCon highlighted the reliability of the Golden Ratio Multiplier in predicting Bitcoin’s price top in each cycle. The Golden Ratio Multiplier is a logarithmic model that incorporates Fibonacci-derived multipliers to anticipate Bitcoin’s macro trends. Notably, this metric was among the few to accurately call the April 2021 cycle top in real time, the same as the 2017 and 2013 price tops. This cycle, the model has already flagged a significant peak in March 2024, although the crypto analyst interpreted this not as the final high but as a mid-top. CryptoCon explained that Bitcoin’s price action has already hit Level 4 of the multiplier chart this cycle, but this isn’t the final peak. “We’ve already hit our cycle top level this cycle once, but this was for the cycle mid-top in March 2024, which means we’re bound to do it again,” he wrote. The Level 5 band now sits around $160,000 and continues to trend upward. Drawing a parallel to past cycles, CryptoCon noted that the structure of the current cycle shows strong similarities to the 2015 to 2017 period, when Bitcoin saw a gradual build-up followed by an explosive breakout. Based on this comparison, the current market phase is seen as equivalent to April 2017, right before Bitcoin went on a rally in the months that followed. Golden Multiplier Ratio Suggests $160k Is Next Major Target The chart accompanying CryptoCon’s post paints a familiar picture with the Golden Multiplier Ratio. Each band, ranging from Level 1 to Level 10, is based on a multiplier level derived from the 350-day moving average.  Bitcoin has topped at various levels: Level 10 in 2011, Level 9 and 8 in 2013, Level 7 in 2017, and Level 6 in 2021. The current cycle’s peak should most likely be Level 5, but the Bitcoin price is yet to get there. Related Reading: ‘Judgment Day Is Coming’—XRP Set To Explode, Analyst Warns Should the market continue to respect this structure, Bitcoin could be preparing for a rally toward the Level 5 mark of $160,000 sometime later in the year, which could mark the final high of this cycle. The current range around $103,000 may well be the calm before the final breakout. “Slower buildup, then all at once,” the analyst said. At the time of writing, Bitcoin was trading at $102,971. Featured image from Unsplash, chart from TradingView

De-dollarization is exploding across Eurasia as 93% of EAEU trade now flows through national currencies, signaling a decisive pivot from the U.S. dollar and reshaping global finance. Russia Says 93% of EAEU Trade Now in National Currencies as Dollar Use Crumbles A rising trend of de-dollarization is reshaping trade across Eurasia, as national currencies increasingly […]

Arthur Hayes predicts an unstoppable surge for bitcoin as collapsing U.S. treasuries and capital repatriation fuel a global flight into BTC, targeting $1 million. Arthur Hayes: Capital Repatriation and Treasury Collapse Will Push Bitcoin to $1 Million Arthur Hayes, chief investment officer of Maelstrom and co-founder of crypto exchange Bitmex, shared his latest macroeconomic outlook […]

In the last week, Bitcoin showed a range-bound movement, with prices oscillating between $105,000 and $101,000 to produce a slight gain of 0.60%. Notably, the flagship cryptocurrency has seen a market cool-off in the past two weeks following a 10.7% price leap in early May. Interesting, a crypto analyst with X handle TATrader_Alan, popularly known as Trader Alan, has highlighted a bullish pattern that points to a price target around $115,000. Related Reading: Bitcoin Strengthens Vs. Gold, Analyst Sees ‘Higher Than Expected’ Returns Bitcoin Climbs With Precision: $115,000 May Be The Next Stop Amidst an extended crypto market correction in 2025, Bitcoin prices crashed from $109,000 in January to less than $75,000 in mid-April. Since hitting the local bottom at $74,600, the premier cryptocurrency has recorded an impressive market rebound, rising by over 39.1% in the past month to hit a local peak of $105,800. In an X post on May 16, Trader Alan provided an interesting technical insight into this uptrend, highlighting that Bitcoin has repeatedly produced the same leap in dollar value, separated by a period of consolidation. The trading chart from the analyst explains that when Bitcoin surges approximately $10,000, it enters a 7-10 period of sideways consolidation before resuming its ascent. This bullish behaviour has been repeatedly seen with Bitcoin’s leap from $75,000 to $85,000, then to $95,000, and $105,000. Going by this pattern, the crypto market leader is tipped to hit the $115,000 target following a potential breakout from its current price consolidation. If this projection realizes, Bitcoin would achieve a 10.57% gain from current prices, breaking into a new price discovery. This kind of price movement is characteristic of a strong uptrend marked by healthy pauses. The consolidations typically allow the market to cool off after sharp runs, allowing traders to accumulate in preparation for the next leg higher. Importantly, these consolidation zones often act as new support levels, strengthening the bull market structure. Related Reading: Dogecoin Hovers at $0.22 Following Weeks of Gains, Analysts Share Mixed Outlooks Bitcoin Whales Keep Stacking In other developments, top OKC Partner and Binance KOL Ted Pillows reports that the Bitcoin whales are maintaining an impressive accumulation streak. On May 15, the largest Bitcoin holders acquired an additional 2,180 BTC valued at $226,750,000, signaling a strong market confidence. Generally, large accumulations by Bitcoin whales are a typical bullish signal, especially amidst the current uptrend, signalling a strong potential for future price appreciation in line with Trader Alan’s prediction. At press time, Bitcoin continues to trade at $103,281 following a 0.90% decline in the last day. In tandem, the asset’s trading volume is down by 15.76%, suggesting a decline in market interest.  Featured image from iStock, chart from Tradingview

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

Robert Kiyosaki predicts bitcoin will soar to $250,000 this year as crashing central banks trigger mass bankruptcies, fueling unstoppable momentum behind hard assets like BTC. Robert Kiyosaki Predicts $250K Bitcoin Surge, Advises ‘Buy More, Do Not Sell’ Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, has doubled down on his warning about […]

Ripple is unleashing the XRP Ledger to revolutionize Colombia’s farming economy, powering traceability, sustainability premiums, and microfinance access for smallholder farmers. Ripple Leverages XRP Ledger to Support Colombian Farmers With Blockchain and Microfinance Ripple announced on May 15 the launch of its second pilot this year with Mercy Corps Ventures, working in partnership with traceability […]

The price of Bitcoin has been on quite the run since mid-April, finding its way from beneath the $85,000 mark to as high as $104,700 over the past month. The largest cryptocurrency market enjoyed a positive shift in investor sentiment and a fresh influx of capital, especially through the BTC exchange-traded funds (ETFs). Interestingly, the premier cryptocurrency seems to be showing some signs of fatigue, especially after failing to break out of the $102,000 – $105,000 consolidation range over the past week. This sluggish round of price action has called into question the authenticity of the recent bullish impulse. BTC Still Missing Its Bullish Aggression: Crypto Expert Chartered Market Technician (CMT) Tony Severino took to the X platform to share an interesting insight into the price action of Bitcoin over the last few weeks. According to the crypto expert, the price of BTC might be missing a classic technical behavior, often correlated with aggressive bullish impulses. Related Reading: Ethereum Breaks Above Key Realized Price Zones—What It Means for ETH The rationale behind this observation is the recent movement of the daily relative strength index (RSI) indicator on the Bitcoin price chart. The relative strength index is a momentum indicator used in technical price analysis to estimate the speed and magnitude of an asset’s price changes. The RSI oscillator is typically used to analyze whether a crypto asset is being overbought or oversold, signaling a potential trend/price reversal. An RSI reading of above 70 usually indicates an overbought market condition, while a relative strength index value below 30 signals an oversold condition. According to Severino, Bitcoin bull runs historically coincide with a rapid surge of the RSI oscillator above the 70 threshold, reflecting overwhelming buying pressure in the market. This pattern is noticeable in the chart below, as highlighted during the October 2023 rally and the November 2024 post-election breakout. However, Bitcoin’s current price action appears more cautious and less convincing. While the market leader has been recovering from its early-year blues, the relative strength index has yet to exhibit the clean upward break (above 70) typical of significant bullish expansions. Severino did note that the Bitcoin bullish impulse—signaled by the RSI break above 70—could emerge at any moment. If the bullish strength does come, investors could see the price of BTC break out of the current consolidation range and toward its all-time high. Bitcoin Price Overview As of this writing, BTC is valued at around $103,676, reflecting no significant price movements in the past 24 hours. The past day’s sluggishness underscores the premier cryptocurrency’s performance in the past week. According to data from CoinGecko, the Bitcoin price has increased by merely 0.8% in the last seven days. Related Reading: Bitcoin Up $18,000, But HODLer Profits Same As On April 1—Here’s Why Featured image from iStock, chart from TradingView

In the first quarter of 2025, Solana’s blockchain protocol recorded its strongest performance in a year, with total application revenue rising to $1.2 billion. January was particularly notable, accounting for nearly 60% of the quarter’s total revenue. Pump.fun Top Revenue Generator in Q1 for Solana Apps In the first quarter of 2025, the blockchain protocol […]

Today in crypto, Moody’s degrades US credit rating, Bitcoin’s next explosive move could send the asset to $250,000 by the end of 2025, according to analyst Scott Melker, and the co-founder of World Liberty Financial pushes back against US lawmakers' attempts to probe potential conflicts of interest involving the president.Moody's rating agency degrades US credit ratingMoody's, one of the major credit ratings agencies, downgraded the US government's creditworthiness from Aaa to Aa1 on May 16, citing increased deficits and a mounting national debt.According to the announcement, the agency forecasts higher US government debt, fueled by increasing interest expense on the debt, and a lack of cost-cutting measures curtailing government spending. The report noted:"Over the next decade, we expect larger deficits as entitlement spending rises while government revenue remains broadly flat. In turn, persistent, large fiscal deficits will drive the government's debt and interest burden higher.""The US' fiscal performance is likely to deteriorate relative to its own past and compared to other highly-rated sovereigns," the newly revised credit outlook predicted.The United States national debt is more than $36 trillion and growing. Source: US Debt ClockBitcoin to $250K in 2025 ‘totally possible’ — crypto analyst Scott MelkerBitcoin’s next explosive move could send the asset to $250,000 by the end of 2025, according to Scott Melker, a crypto analyst and host of The Wolf of All Streets podcast.Speaking in a recent interview, Melker cited growing institutional interest and diminishing volatility as key factors that could drive the next leg up.“250K this year, totally possible,” Melker said, adding that Bitcoin’s volatility has declined significantly in recent years.“It used to be about three times as volatile as the S&P. Now it’s less than two times.” He pointed to increased involvement from pension funds and ETF issuers as evidence of a more mature, stable market.The shift, he argued, reflects a broader trend of institutional adoption. “The more institutional money, the more Wall Street money, the more long-term holders get involved, the less volatility there’s going to be,” Melker explained.World Liberty Financial brushes off oversight concerns from CongressZach Witkoff, one of the co-founders of the Donald Trump family-backed crypto platform World Liberty Financial (WLFI), has rebuffed efforts by US lawmakers to investigate the president’s potential conflicts of interest.In a May 15 letter to Senator Richard Blumenthal, lawyers for World Liberty Financial claimed a call to investigate the crypto platform was based on “fundamentally flawed premises and inaccuracies.” Witkoff did not specifically address any allegations, claiming that WLFI was “too busy building” for oversight.“The Company rejects the false choice between innovation and oversight,” said the letter. “What it opposes is the misuses of regulatory authority and uncertainty to suppress lawful innovation.”May 15 letter to Sen. Blumenthal. Source: Zach WitkoffBlumenthal, the ranking member of the US Senate Permanent Subcommittee on Investigations, was one of many Democrats calling for investigations and legislative changes in response to Trump’s ties to WLFI, as well as his TRUMP memecoin and its dinner scheduled for the top tokenholders on May 22.The GENIUS Act, a bill to recognize stablecoins as payment instruments currently being considered in Congress, may be a bellwether for how lawmakers intend to handle the president’s potential conflicts of interest.

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

Ethereum prices gained by over 4.6% in the past day to reach a peak of $2,634 before experiencing a slight retracement. In line with the bullish rhythm of the crypto market, the prominent altcoin has recorded significant price leaps in the past month, resulting in a total gain of 61.92% in this period. However, price patterns indicate that Ethereum is headed for a major encounter at $4,000, a price level with potential to neutralize or validate the current price uptrend. Related Reading: Ethereum Multi-Year Consolidation Could Spark A Parabolic Move – Details ETH Must Surpass Long-Standing Resistance To Ignite Mega Rally In an X post on May 16, OKC partner and crypto analyst Ted Pillows highlighted an important price level for Ethereum amidst the ongoing bull trend. Notably, ETH has moved by over 60% in the past few weeks from $1400 to trade above $2,600. Based on the growing chart pattern and underlying market fundamentals, the altcoin is likely to maintain this uptrend in the short term. According to Ted Pillows, $4,000 can be described as a crucial price region for ETH bulls based on historical price data. Notably, Ethereum has been trading within a massive symmetrical triangle that began in Q3 2020 and has lasted over 1,500 days.  The $4,000 price level currently sits just below the upper boundary of this triangle, representing a significant opposition to further price gains. In 2024, Ethereum popularly faced rejection thrice at the $4,000 price level, even amidst general market upswings, raising speculations over the altcoin’s long-term profitability. If the ETH bulls can sustain the current market demand, another encounter with this major resistance level is likely on the cards. To confirm the altcoin’s participation in a brewing crypto bull run and altseason, Ethereum must push past $4,000, flipping this price zone into an effective support level that could strengthen the current market structure with bullish targets set as high as $12,000. However, if ETH faces another rejection at this resistance zone, a price correction could occur with potential for price lows around $1,700 in line with the lower boundary of the symmetrical triangle. Related Reading: XRP Price Explosion To $5.9: Current Consolidation Won’t Stop XRP From Growing ETH Institutional Interest Waxes Strong In other news, the ETH market continues to see significant market interest from institutional investors. In a separate X post, Ted Pillows reports that UK-based investment manager Abraxas Capital now holds 257,165 ETH, valued at $655 million, following a continuous accumulation spree over the past few days. Institutional investments are strong bullish signals of long-term profitability for the ETH market as they indicate a strong demand from these traditional financial institutions with relatively high amounts of liquidity. At press time, crypto’s largest altcoin trades at $2,490, indicating a 6.95% gain in the past week. Featured image from iStock, chart from Tradingview

Hong Kong police have dismantled a cross-border crime syndicate accused of laundering HK$118 million (US$15 million) through fraudulent bank accounts, arresting a total of 12 individuals in a citywide operation, the South China Morning Post (SCMP) first reported. Crime Syndicate Recruited Mainland Chinese to Launder Millions, Police Say SCMP reported that Hong Kong’s Commercial Crime […]

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

Following the return above $100,000 in the previous week, Bitcoin has fought well to maintain its hold above the six-figure mark in recent days. While the flagship cryptocurrency retains its six-figure valuation, there’s still some momentum lacking in its price action, as spotlighted by last week’s performance.  According to recent analysis, the sluggishness and apparent indecision in the BTC market can be attributed to significant selling pressure in the derivatives market. Interestingly, the latest on-chain data shows that the Bitcoin price still has room for additional growth. Options Market Data Shows Shift In Trader Sentiment In a May 16 post on the X platform, blockchain analytics firm Glassnode shared fresh on-chain insights suggesting a rise in bullish sentiment amongst Bitcoin options traders. The relevant indicator here is the 1-month 25 Delta Skew, which compares the implied volatility of bullish bets (call options) to the bearish bets (put options). Related Reading: Bitcoin Next Leg Up Loading? Analyst Says BTC Could Trade Sideways For Two Weeks When the 1-month 25 Delta Skew is in the positive territory, it implies that puts have higher implied volatility than calls. This trend is often associated with a bullish sentiment where traders are more worried about the asset price falling and are thus paying a premium for downside protection. On the other hand, a negative value for the 1-month 25 Delta Skew indicator signals that calls are more expensive than puts. This suggests that traders are more willing to bet on the price of Bitcoin moving higher than for protection against downside exposure. According to data from Glassnode, the 1-month 25 Delta Skew metric recently witnessed a drop to around -6.1%. This decline, the analytics platform noted, signifies that call options now carry higher implied volatility compared to put options.  This options market trend means that there is now rising bullish sentiment amongst Bitcoin traders, as they lean more into betting on the BTC price rising. Glassnode also pointed out that this increasing bullish sentiment reflects a risk-on environment, where traders and investors are more willing to risk their funds.  Historically, a negative 25 Delta Skew is a strong bullish sentiment indicator, as it usually precedes further appreciation of the Bitcoin price. Moreover, current options data not only supports BTC’s upward movement, but could also serve as a positive catalyst for more growth as additional long positions enter the market. Bitcoin Price At A Glance  As of this writing, the price of BTC stands at around $102,800, reflecting an over 1% decline in the past 24 hours. Related Reading: JPMorgan Claims Bitcoin Has More Upside Potential Than Gold For Q2—Here’s The Breakdown Featured image from iStock, chart from TradingView

On Friday, credit rating agency Moody’s downgraded the United States’ long-term credit rating from Aaa to Aa1, pointing to a decade of mounting debt and escalating interest payment pressures. The development lands amid intensifying recession concerns, turbulent trading conditions, and disjointed activity across bond markets. Triple-A No More—Moody’s Strips U.S. of Top Rating Amid Exploding […]

This content is provided by a sponsor. Lightchain AI, a pioneering blockchain project integrating artificial intelligence, has announced the official launch of its mainnet in July 2025. This milestone will introduce a decentralized AI marketplace, enabling creators and companies to leverage the Lightchain Protocol’s Global Model, known as the Artificial Intelligence Virtual Machine (AIVM). Join […]

Spot bitcoin exchange-traded funds (ETFs) drew $260.27 million in net inflows on Friday, May 16, significantly outpacing spot ethereum ETFs, which recorded a total inflow of $22.12 million. Bitcoin ETFs Dominate Friday Flows While Ethereum Sees Tepid Uptake Leading Friday’s activity in the bitcoin ETF space was Blackrock’s Ishares Bitcoin Trust (IBIT), which took in […]

According to blockchain data, a new Solana token named Eric Trump shot up 6,200% in just 24 hours. It sprang to life on May 16 via the Pump.fun launchpad and swelled to a market cap of 140 million. Traders piled in fast, but on‑chain detectives noticed more than 80% of the supply parked in just 10 wallets. That kind of concentration often signals a setup for a sudden collapse. Related Reading: Analysis: Crypto Heats Up As $35 Billion Enters Market In Under A Month Political Name Exploitation Using a well‑known figure’s name can be a quick way to grab attention. Based on reports from Bubblemaps, the token’s ties to “jv7d” on Solana raised red flags. When insiders hold most of the coins, they can dump them at will. Retail investors end up holding what’s left—and that often means heavy losses. a rug in the making#ERICTRUMP is currently trending on most platforms. avoid it. pic.twitter.com/g1KE7wKMCA — Bubblemaps (@bubblemaps) May 16, 2025 Warning Signs On-Chain Cluster analysis showed the top 250 holders are linked through a handful of addresses. That pattern mirrors the WOLF token, which hit 42 million before plunging to almost nothing. Analysts say these moves fit the classic rug‑pull script, where early backers cash out at the peak, then vanish. Copycat Tokens Multiply The same wallet, known as “BjTm,” has already launched three other Eric Trump tokens that fizzled quickly. Based on CoinMarketCap data, more than 736 imitation tokens have been pushed into the official Trump wallet space. Of those, 192 use Trump family names, and 67 claim to be “official.” Even Elon Musk’s name crops up in at least 35 of them. Global Political Targets Scammers aren’t stopping with US figures. In April, the verified X account of UK MP Lucy Powell was hijacked to promote a fake Solana token. It tapped into her 70,000 followers and netted just 225, but it showed how a trusted badge can fool people. Related Reading: ‘Judgment Day Is Coming’—XRP Set To Explode, Analyst Warns Investor Warning Lights Based on this pattern, analysts urge caution. When a token’s value spikes without clear backing—and most coins sit in a few wallets—that’s a signal to step back. Blind loyalty to a name, political or otherwise, can turn into financial pain. What Comes Next As more political meme coins pop up, the risk grows. Every high‑profile name could become bait. Investors should check who holds the tokens, watch for rapid launches on cheap networks like Solana, and keep in mind that hype can vanish as fast as it appears. In a space where hype often trumps fundamentals, staying alert might be the best way to stay afloat. Featured image from Unsplash, chart from TradingView

Users aren't buying xAI's explanation after Musk's Grok started randomly injecting "white genocide" into conversations.

This content is provided by a sponsor. PRESS RELEASE. Ethereum and Solana holders are enjoying solid profits this month, and many are now rotating those gains into a new project catching serious attention: Remittix (RTX). As fresh capital flows in, Remittix’s presale has already crossed major funding milestones, driven by investor confidence in its real-world […]

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

Cardano (ADA) is flashing mixed signals as its market structure hints at an imminent short-term price crash. While bearish indicators suggest a possible decline, a crypto analyst reveals that the broader trend remains intact, with technical patterns supporting the potential for a rally toward the $0.9 mark. Cardano Price Crash Incoming TradingView Crypto analyst SiDec has released a bearish price forecast for Cardano, anticipating a significant correction toward the $0.75 area in the coming days. This cautious outlook is based on detailed analysis using Elliott Wave Theory, Fibonacci tools, and critical price action zones.  Related Reading: Crypto Analyst Releases Next Potential Targets For Cardano, Is $1 ADA Still Possible? SiDec has stated that ADA’s price continues to consolidate after completing a 5-wave impulse move, signaling the end of its upward momentum. Following this strong impulse rally, the cryptocurrency is now exhibiting a classic Elliott Wave behavior, transitioning into a textbook ABC corrective pattern.  The cryptocurrency first experienced a pull-back, labeled as Wave A on the price chart, followed by a temporary recovery in Wave B. According to SiDec, Wave C is expected to complete the retracement pattern, with ADA’s final downward move nearing its end.  Currently, technical indicators and price action point to the $0.705 region as a high-probability long entry zone. The TradingView analyst also clarifies where ADA might find solid support during this corrective phase using Fibonacci Retracement zones. The 50% retracement level of the entire bullish 5-wave impulse is positioned approximately at $0.7534 — a critical price point that coincides closely with ADA’s previous price swing at $0.746. This former resistance level has yet to be revisited, making it a natural support candidate.  The analysis further identifies a 1:1 ABC extension for the anticipated correction in ADA, placing Wave C’s potential crash target around $0.7492. This also creates a tight cluster of technical indicators in the range of roughly $0.75, indicating a strong support zone.  Further supporting this level, the daily 21 Exponential Moving Average (EMA) stands at $0.7455, while the daily 21 Simple Moving Average (SMA) is slightly lower at $0.7347. SiDec has also identified the Point of Control (POC), which marks the price with the highest volume, near $0.7318.  The analyst further highlights that Cardano’s anchored Volume Weighted Average Price (VWAP) resides within the $0.75 support zone. At the same time, the Pitchfork tool’s golden pocket aligns dynamically as support around the same area.  ADA Price Path To $0.92 Holds Firm While SiDec eyes a potential crash to new lows for ADA in the near term, the analyst’s chart also shows a green zone, with a projected bullish bounce drawn. Following its Wave C crash, Cardano is expected to rebound and approach the $0.92 level.  Related Reading: Cardano Price Set For 300% Explosion With Major Bullish Impulse The TradingView analyst has advised caution around this area, as $0.92 acts as a significant resistance zone and coincides with a prior liquidity zone that could trigger rejection or profit-taking.  SiDec has emphasized that the risk-to-reward ratio around this area will only become favorable once there is clear confirmation, such as an SFP, a bearish engulfing candle, or visible divergence. Overall, if the $0.75 support zone holds, Cardano, which is currently trading at $0.78, could be positioned for a strong recovery toward $0.92 and beyond. Featured image from Unsplash, chart from Tradingview.com

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Bitcoin is facing growing risks of a pullback as bullish momentum begins to fade near key resistance. After weeks of impressive gains, BTC is now consolidating in a tight range just below its all-time high, with buyers struggling to push the price into price discovery. This ongoing indecision has raised concerns among traders and analysts, who are closely watching for signs of either a breakout or a deeper retracement. Related Reading: Ethereum Multi-Year Consolidation Could Spark A Parabolic Move – Details Crypto analyst Daan offered a broader perspective on the situation, noting that Bitcoin initially surged in response to the recent tariff-related tensions, significantly outperforming equities in the process. However, as trade uncertainty began to ease and traditional markets regained momentum, Bitcoin lost steam and failed to follow through. While stocks continued their uptrend, BTC stalled—an unusual divergence that suggests caution may be creeping back into the crypto space. With the price now hovering around the $103K mark and key resistance near $105K remaining untouched, bulls must act decisively to reclaim control. A failure to do so could trigger a larger correction, especially if macro conditions shift or equity markets show renewed weakness. For now, all eyes are on the range — and which side breaks first. Bitcoin Bulls Eye Breakout But Caution Grows Near Resistance Bitcoin is just 5% away from its all-time high of around $109,000, trading near $103K as bulls attempt to reclaim momentum. After weeks of strong upward movement and consolidation above key levels, many analysts believe BTC is preparing for a decisive breakout. If price can clear the $105K resistance, it could trigger a new leg into price discovery and signal the start of a powerful bull phase. However, selling pressure at current levels remains strong. Bitcoin has struggled to break higher, and some traders see this consolidation as a sign of potential exhaustion. Daan offered insights on the recent behavior, noting that BTC surged sharply following the tariff-related macro drama, outperforming equities in the process. Yet, as some trade uncertainty faded, stocks kept climbing while BTC stalled near resistance. Daan considers $90K his “line in the sand” for long-term spot exposure. If Bitcoin were to drop below that mark, it would suggest a structural breakdown that hasn’t occurred during this cycle. For now, he remains cautiously bullish while BTC stays above that level, but admits the risk-reward was more attractive when BTC was 20–30% cheaper. He also warns that if equities correct after their aggressive rallies—many stocks have surged 30–50% in a single month—it could drag Bitcoin lower in a short-term flush. With BTC showing relative weakness near resistance, the next move will be critical for confirming either continued upside or the start of a broader pullback. Related Reading: Dogecoin Whales Accumulate 1 Billion DOGE In A Month: Fueling Price Surge Speculation Tight 4H Range Signals Imminent Price Breakout The 4-hour chart shows Bitcoin consolidating tightly between $105,700 resistance and $100,700 support, creating a narrow range that suggests a strong move is imminent. Price has been ranging sideways for several days, with multiple failed breakout attempts above $103,600. This level continues to act as a key barrier for bulls. Notably, Bitcoin remains above both the 200 EMA ($96,121) and the 200 SMA ($94,622), reinforcing the medium-term bullish structure. Momentum is neutral in the short term, as shown by the indecisive price action and declining volume. However, the trend remains intact as long as BTC holds above $100,000 — the psychological and technical line in the sand. If price breaks above $103,600 with volume, it could trigger a move toward the $105,000–$109,000 range and initiate a push into price discovery. On the other hand, failure to hold this support zone could open the door for a quick flush to retest the $98,000–$96,000 area, where the moving averages align. Related Reading: Solana Sees Renewed Demand As Capital Flows Turn Positive – Details Traders should watch for a clear breakout or breakdown, especially as moving averages and prior highs converge. This tight setup rarely lasts long, and a decisive move could define Bitcoin’s trend for the rest of the month. Featured image from Dall-E, chart from TradingView

South Africa’s Garden Route, famed for its lush forests, expansive beaches and charming towns, has become a testbed for Bitcoin adoption.From Mossel Bay to Witsand and Plettenberg Bay to Knysna, Bitcoin has become popular among shop owners and travelers alike for a multitude of reasons.“We’re seeing the early signs of a parallel, permissionless economy emerging across an entire region,” James Caw, founder of SimplB — a local crypto asset provider — told Cointelegraph, “where small businesses benefit from faster, lower-cost digital payments and where people have more options to earn, send and receive sound money securely.”For tourists, the benefits are immediate: no currency exchange hassles, no international card fees, and the ability to pay instantly and securely. For locals, Bitcoin (BTC) offers a hedge against inflation, protection from currency volatility and new economic opportunities.Here’s a taste of what a Bitcoin-friendly trip along the Garden Route is like.The Garden Route is where Bitcoin meets paradiseThe Garden Route is one of South Africa’s premier tourist corridors. It stretches roughly 300 kilometers from Mossel Bay in the west to the Storms River Mouth in the east, attracting hundreds of thousands of tourists yearly.Crypto adoption is escalating thanks to South Africa’s regulatory environment, which now recognizes Bitcoin as a financial product. Across the Garden Route, you can spend pre-acquired Bitcoin freely, with little concern for local tax or exchange controls.It’s a grassroots movement. Towns like Witsand and Plettenberg Bay are at the forefront, and national retailers like Pick n Pay provide a safety net for crypto spending along the way. Every Pick n Pay store, including supermarkets, clothing outlets and Express convenience stores, accepts Bitcoin via the CryptoQR app. This guarantees you can always buy daily goods with Bitcoin wherever you travel. Related: Stablecoin fever: 5 major stablecoins are growing crypto adoptionWitsand is the Bitcoin villageLocated at the mouth of the Breede River, Witsand is a sleepy coastal town with a big reputation in the Bitcoin world. Here, Bitcoin isn’t just accepted — it’s preferred.It’s thanks to the efforts of local champions like Edwin Jones, a software engineer and passionate supporter of Bitcoin adoption in the Garden Route. Witsand has become a functioning Bitcoin circular economy. Accommodation options like Fantasea and Happy Days holiday homes, meals at Ellie’s on Main, groceries at local shops, gym memberships, boat services, petrol, surf lessons and mini-golf can be paid for using Bitcoin.As Jones notes: Bitcoin Witsand existed long before we gave it a name. It was just having conversations with friends, and as the local businesses started understanding Bitcoin, they actually demanded we start getting the technology in place.The town’s small and close-knit community has enabled rapid adoption; more than 45 establishments accept Bitcoin as of early 2025. The town’s enthusiasm is infectious, as locals and visitors enjoy the ease and security of digital payments.Witsand proudly announces its acceptance of Bitcoin. Source: Edwin JonesWitsand’s success as a Bitcoin hub is rooted in its community-driven approach. Jones outlines its growth by outlining that: Although there have been many individual businesses over the years since 2009 that started and stopped accepting Bitcoin for the Garden Route, the adoption really started kicking off in 2021.“With the Lightning Network starting to reach maturity around that time, the first Spaza Shop in Mossel Bay, Bitcoin Ekasi, started accepting Bitcoin in August 2021, and the first restaurant in Witsand in December of the same year.”Education has been central to the process. Local advocates have focused on teaching business owners the fundamentals of Bitcoin, warning against scams and emphasizing the difference between Bitcoin and speculative altcoins. “With all the circular economies advocating against gambling and trading, cautioning against interest and investments, being explicitly Bitcoin, and focusing on the fundamentals rather than the price, scammers have been kept at bay,” Jones said. “We have also found that businesses don’t have to adapt as much as evolve.”Bitcoin doesn’t change a business — it just supercharges it. Doing the same old things, much better.Mossel Bay’s surf and social upliftmentMossel Bay, the historical gateway to the Garden Route, is not just about beaches and maritime history. Mossel Bay is home to Bitcoin Ekasi, a pioneering project that brought Bitcoin to the township of JCC Camp.Bitcoin Ekasi empowers unbanked residents by enabling them to earn and spend Bitcoin locally. Coaches at The Surfer Kids nonprofit are paid in Bitcoin, and local spaza shops accept Bitcoin for daily necessities.For the Bitcoiner tourist, Mossel Bay offers a unique opportunity for “conscious crypto-tourism.” You can take surf lessons from instructors paid in Bitcoin, visit the Bitcoin Ekasi education center, or support the project with direct donations.The town also boasts a Pick n Pay that accepts Bitcoin. As SimplB’s Caw observes: The Bitcoin Ekasi project first started when they began accepting Bitcoin because of the demand from foreign tourists visiting Mossel Bay. It is just so simple to function on a Bitcoin standard once you begin using it.Plettenberg Bay is the fastest-growing Bitcoin economyFurther east, Plettenberg Bay has witnessed an explosion in Bitcoin adoption. In just a few months, the number of Bitcoin-accepting merchants jumped from five to more than 75, making it one of Africa’s most dynamic crypto economies.Confirmed acceptors include Ferris Cars (which facilitates rental accommodation payments in crypto), Glow Lighting Design and all local Pick n Pay branches. Adventure tourism companies, boutique retailers and professional services are increasingly receptive to Bitcoin, especially if you ask. The rapid growth suggests an enthusiastic local scene, with businesses eager to tap into the spending power of Bitcoin tourists.Related: 8 major crypto firms announce US expansion this yearPlettenberg Bay offers a vibrant mix of beach life, nature and crypto-friendly commerce. The town’s energy is palpable, and visitors are encouraged to engage with merchants, share information about Lightning payments, and help grow the ecosystem.“Right now Plettenberg Bay is by far the most interesting circular economy in Africa and possibly the world,” said Jones. “It currently boasts having the most businesses accepting Bitcoin of any town in Africa and has achieved this in less than three months.”Bitcoin preferred signs can be found along the Garden Route. Source: Edwin JonesSedgefield is a quiet pioneerSedgefield, a tranquil town between Knysna and Wilderness, played a key role in the national rollout of Bitcoin payments at Pick n Pay. It was one of the trial sites for the innovative QR code converter from MoneyBadger, which enables Bitcoin spending at every Pick n Pay in South Africa.Sedgefield itself doesn’t have the same density of Bitcoin-accepting independent merchants as Witsand or Plettenberg Bay, but the presence of Pick n Pay ensures that crypto tourists can always pay for groceries and essentials with sats.Practical information for your tripIf you do make it out to the Garden Route, recommended wallets include Blink, Wallet of Satoshi and Phoenix — all Lightning-enabled and widely used in the region. In larger towns like Knysna, George, Wilderness and Oudtshoorn, the Bitcoin scene is still emerging. There aren’t yet established circular economies, but the nationwide acceptance of Bitcoin at Pick n Pay provides a reliable foundation for spending.The Spasie on Breede Restaurant and Bar is just one of many establishments accepting Bitcoin. Source: Edwin JonesBTC Map occasionally lists independent merchants, like Beans About Coffee in Oudtshoorn. Still, the best strategy is to ask around, look for Bitcoin signage, and use mapping tools to discover new acceptors.For accommodation, activities and dining, direct inquiry remains key. Many guesthouses and tour operators are open to Bitcoin payments, especially as awareness grows. Online platforms like Bitrefill enable you to buy gift vouchers for major retailers using Bitcoin, providing a workaround for places that don’t yet accept crypto directly.Happy travels.Magazine: Pranksy: Inside the anonymous life of an NFT legend — NFT Collector

Nasdaq-listed DeFi Development Corp. is adding to its Solana connections, teaming up with one of the network’s top meme coins.

Opinion by: Merlin Egalite, co-founder at Morpho LabsFintechs in the front, decentralized finance (DeFi) in the back: the DeFi Mullet.Today’s fintech companies offer excellent user experiences but are constrained by traditional financial infrastructure — siloed, slow, expensive and inflexible. Meanwhile, DeFi provides lightning-fast, cost-effective, interoperable infrastructure but lacks mainstream accessibility.The solution? Combine fintech’s distribution and user experience with DeFi’s efficient back end.The mullet is inevitableFintech companies heavily rely on traditional financial (TradFi) infrastructure that is siloed, slow to deploy and run, and costly to maintain. This inefficiency limits their control over costs and product offerings and has potential infrastructure risks. Fintechs have a strong incentive to transition to building on autonomous, credibly neutral public infrastructure.The power of DeFi is evident in stablecoins. While traditional international wire transfers cost $30–$50 and take one to five business days, stablecoin transfers cost mere cents and settle in seconds. This revolutionary improvement in financial infrastructure extends beyond payments. DeFi provides 24/7/365 infrastructure for trading, lending and borrowing with instant settlement, open access and deep liquidity, enabling better price execution and yields.Plugging their compliance-ready front end into DeFi infrastructure, fintech companies can focus on creating exceptional user experiences. This opens up tremendous opportunities for innovation while driving more liquidity onchain, creating a positive feedback loop of embracing the DeFi Mullet.Now is the time for mainstream adoptionToday’s DeFi ecosystem has proven its reliability for fintech integration. There are dozens of protocols that demonstrate this maturity, securely managing billions in loans through immutable, governance-minimized designs. DeFi infrastructure gives fintechs complete control over their infrastructure. This is particularly crucial after the recent Synapse bankruptcy that trapped Yotta user funds meant to be insured by the Federal Deposit Insurance Corporation.Recent: Bitcoin DeFi will have 300M users, beating Ethereum and Solana: ExecInstitutions are also coming onchain. BlackRock has tokenized a fund via Securitize; Stripe has acquired Bridge for $1 billion to scale its stablecoin solutions; the US is creating a strategic Bitcoin (BTC) reserve; and clarity on regulation is opening the floodgates. The shift is step-by-step but tangible.DeFi has arrived.The next phaseFor years to come, expect more products like crypto-backed loans to be released by fintech’s most advanced players, offering onchain saving accounts, onchain loans, instant international payments and more. This transformation will be invisible to users and powered by smart wallets and account abstraction that maintain the familiar Web2-like user experience at which fintech companies excel. Early adopters will gain significant advantages over competitors.Yet, unlike building on traditional finance, DeFi’s open infrastructure means even latecomers can benefit from existing network effects without starting from zero.Some skeptics argue that the involvement of fintechs and traditional institutions will erode decentralization, as protocols must comply with regulatory requirements. While this concern is understandable, the opposite is more likely.Expecting protocols to achieve compliance across every jurisdiction worldwide is unrealistic, especially given the vast regulatory fragmentation. Instead, regulating the apps that interface with users makes far more sense rather than the underlying protocols. For this regulatory model to work, however, protocols must remain credibly neutral.A credibly neutral mechanism adheres to four principles:It embeds no preference for specific individuals or outcomes.It is open-source with publicly verifiable execution.It is simple and understandable.It changes infrequently.Examples like HTTP and SMTP demonstrate the power of credibly neutral protocols — they are free, open and unregulated, with only the clients subject to oversight. The same logic should apply to governance-minimized, immutable DeFi protocols.These constraints will push DeFi builders toward creating genuinely decentralized and trustless systems.Fintechs integrating DeFi protocols can build on top of the most neutral infrastructure and access their growing network effects.Let the mullet growThe DeFi mullet is more than just a meme — it’s a structural shift.To scale, DeFi must meet users where they are: through regulated, user-friendly fintech channels. For fintechs to stay relevant, they must offer their customers the best user experience and opportunities, such as the best rates. Those who miss this opportunity risk falling into irrelevance, much like traditional retail banks losing market share to today’s fintechs.This convergence isn’t just possible — it’s inevitable.Opinion by: Merlin Egalite, co-founder at Morpho Labs.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.

Elon Musk’s latest profile name change on X has sent ripple effects through the crypto market yet again. After swapping his profile to “Kekius Maximus” with a Roman‑style frog avatar, the meme‑inspired token tied to that name shot up by almost 120% in just 24 hours. Based on Binance data, traders saw KEKIUS climb from an average of 0.025 to 0.0502 overnight. Related Reading: Price Down, Bets Up: Dogecoin Open Interest Climbs To $1.62 Billion Musk Sparks Another Frog Coin Surge According to reports, this isn’t the first time Musk’s social‑media tweaks have moved meme coins. Last December, he adopted the same name and a golden‑armored Pepe image. That move drove KEKIUS nearly 500% higher in a single day before prices tumbled back. His followers treat each change like a buy signal. They pile in fast when they see a new profile name. Then many scramble to exit once the hype dies down. 𝕏 is news by the people for the people. Seeking truth, but always self-critical. — Kekius Maximus (@elonmusk) May 15, 2025 Price Jumps 119% In A Day Binance figures show the token’s value leapt 119% within 24 hours of Musk’s latest switch. CoinMarketCap data confirms it hit 0.0502 at the peak, up from about 0.025 just a day earlier. That level is still far below its initial launch price last year. At one point, speculators were paying 0.25 for a single KEKIUS token before the first big crash. History Of Kekius Maximus Name Kekius Maximus blends several things at once. “Kek” started as gamer slang for laughing. It also links back to an Egyptian frog‑headed god of chaos. Maximus echoes the gladiator hero from a famous movie. The token itself runs on both Ethereum and Solana blockchains. Creators say they wanted to mix memes, myth and pop culture. But there’s no big tech behind it—just a playful mashup that reacts to Elon Musk’s mood swings. Risky Ride For Investors Based on reports, this pattern shows just how wild crypto can get when a celebrity is involved. These tokens offer no real product or service. They live or die on hype alone. When the profile name flips back, they often collapse. Traders who jump in at the peak can face heavy losses. Regulators have flagged such pumps as a concern. They warn that celebrity chatter can mask the true risk under the surface. Related Reading: Analysis: Crypto Heats Up As $35 Billion Enters Market In Under A Month A Wider Trend In Meme Tokens Earlier this month, Musk tried a different name—“Gorklon Rust”—and a related coin, GORK, doubled in value. That name combined his AI chatbot’s name with a programming language used by X’s engineers. Again, traders treated it like an open invitation. GORK saw a 100% spike in 24 hours. But it then gave most of that back when the novelty wore off. What To Watch Next Investors who follow these moves need to stay alert. Such jumps can happen without warning, and they can reverse just as fast. Some see them as short‑term bets, almost like casino plays. Others treat them as entertainment. Either way, it’s clear that Musk’s profile choices remain a powerful crypto driver. And for many tokens, that power can vanish as quickly as it appears. Featured image from Gemini Imagen, chart from TradingView

Ethereum NFT game DX Terminal gives players’ unruly AI agent traders one week to rack up as many fake meme coins as possible. What could go wrong?

Crypto Fight Night isn’t made for fight fanatics—it’s an event for crypto bros to break bread after months of battling in the trenches.

It’s more likely that Bitcoin’s dominance will plateau as opposed to moving sharply lower, according to Grayscale’s Zach Pandl.

Bitcoin’s next explosive move could send the asset to $250,000 by the end of 2025, according to Scott Melker, a crypto analyst and host of The Wolf of All Streets podcast.Speaking in a recent interview, Melker cited growing institutional interest and diminishing volatility as key factors that could drive the next leg up.“250K this year, totally possible,” Melker said, adding that Bitcoin (BTC)’s volatility has declined significantly in recent years.“It used to be about three times as volatile as the S&P. Now it’s less than two times.” He pointed to increased involvement from pension funds and ETF issuers as evidence of a more mature, stable market.The shift, he argued, reflects a broader trend of institutional adoption. “The more institutional money, the more Wall Street money, the more long-term holders get involved, the less volatility there’s going to be,” Melker explained.Related: New Bitcoin price all-time highs could occur in MayCrypto markets show signs of strength in 2025Market activity in 2025 has already shown signs of strength. Bitcoin surged past $104,000, while Ether (ETH) reclaimed levels above $2,600.Coinbase’s addition to the S&P 500 marked a major milestone for crypto’s integration into mainstream finance. Melker noted the company is not just entering the index but doing so in the top 50 by market cap — a reflection of how deeply rooted some crypto firms have become.In addition to Coinbase, firms like Galaxy Digital and eToro have moved forward with public listings, signaling confidence in regulatory conditions under the current US administration.Melker said that this environment, bolstered by dropped SEC lawsuits and favorable executive orders, has created what he calls “an extremely bullish” backdrop for the sector.While Bitcoin remains the primary focus, Melker acknowledged a renewed interest in altcoins. Recent price action saw Ethereum outpace Bitcoin, triggering a rally across smaller-cap tokens — a sign, he said, that “new money” is entering the space rather than just rotating within it.Related: Here is why Bitcoin price is stuck below $105KDon’t rule out a wild runDespite the optimism, Melker tempered expectations, noting that most experts are forecasting cycle highs between $120,000 and $150,000. Still, he emphasized that wild surges are not out of the ordinary in crypto.“From the 2020 lows to the last bull market, Bitcoin went from $3,000 to $69,000. A 2.5x from here wouldn’t be a big deal.”On May 16, X analytics account Apsk32 argued that Bitcoin has a “decent chance” of hitting $250,000 or more in 2025 as attention turns to gold copycat moves.Source: Apsk32On April 28, Peter Chung, head of research at quantitative trading firm Presto, also repeated his prediction that Bitcoin will reach $210,000 by the end of 2025.On April 22, analysts from Standard Chartered and Intellectia AI said institutional Bitcoin demand from exchange-traded funds and traders seeking to hedge against macroeconomic risk could cause Bitcoin’s price to more than double this year.Magazine: Binance Wallet ‘killing’ MetaMask and airdrops, Chinese RWA tokens: Asia Express

The US Securities and Exchange Commission (SEC) has held discussions with Everstake, one of the largest non-custodial staking providers globally, to explore clearer regulatory definitions around staking in blockchain networks.The meeting, which also involved the SEC’s Crypto Task Force, comes at a time when over $193 billion in digital assets are staked across major proof-of-stake (PoS) networks.However, despite the massive scale of participation, staking remains in a legal gray zone in the US as regulators wrestle with its classification under existing securities law.The previous SEC administration also took enforcement actions against major players such as Kraken, Coinbase, and Consensys due to their staking services. The agency, under pro-crypto President Donald Trump, has recently dismissed these enforcement actions.During the meeting, Everstake told the SEC that non-custodial staking should not be classified as a securities transaction. The company said that users maintain full control over their digital assets throughout the staking process and do not transfer ownership to a third party.They argued that this makes staking a technical function, not an investment product.“Our main assertion is that staking is not a financial instrument or security transaction, but rather a technical process, a base-layer protocol mechanism—akin to an oracle in a database—that maintains the integrity and functionality of decentralized networks,” Everstake founder Sergii Vasylchuk told Cointelegraph.Everstake team meeting with the SEC. Source: EverstakeRelated: SEC delays staking decision for Grayscale ETH ETFsEverstake calls for regulatory clarityIn a letter submitted to the SEC’s Crypto Task Force on April 8, 2025, Everstake asked the agency to extend regulatory clarity to non-custodial staking and custodial and liquid staking models.In the letter, which came in respond to Commissioner Hester Peirce’s call for input on regulatory treatment of blockchain services, Everstake argued that non-custodial staking should not be considered a securities offering.It claimed that non-custodial staking, where users retain control of their tokens, does not involve the pooling of assets or the expectation of profits from managerial efforts.In its model, Everstake said users delegate only validation rights while maintaining ownership of their digital assets. The staking rewards are algorithmically distributed by the blockchain network itself, and the firm merely provides technical infrastructure.Related: Ethereum ETF staking will have little impact without multimonth rally: AnalystNon-custodial staking fails the Howey testThe letter also details why non-custodial staking fails each prong of the Howey test. Users do not make an investment of money in a common enterprise, do not expect profits from Everstake’s efforts, and are not dependent on the company’s management for financial returns.Instead, any rewards come from network-level incentives and fluctuate with the market value of the underlying asset.Everstake proposes specific criteria that should exempt non-custodial staking from securities classification. These include user asset control, absence of pooled funds, permissionless unstaking, and the provision of purely technical services.It likens non-custodial staking to proof-of-work mining, which the SEC has previously ruled out as a securities transaction.Margaret Rosenfeld, Everstake’s chief legal officer, also told Cointelegraph that “with non-custodial staking, there’s no handover of assets, no investment contract, and no third-party risk.” She added:“Treating it as a securities offering undermines the decentralized model and risks chilling innovation in the blockchain sector.”Nevertheless, the SEC has so far withheld a definitive stance. Rosenfeld said that the agency did not make any “specific commitments” on staking guidance. However, it continues to listen to industry stakeholders.“The Task Force is actively engaging with a range of stakeholders—including those involved with non-custodial staking, ETFs, and broader blockchain infrastructure—to gather input.”In an April 30 letter to the SEC, nearly 30 crypto advocate groups led by the lobby group the Crypto Council for Innovation (CCI) asked the agency for clear regulatory guidance on crypto staking and staking services.Magazine: Binance Wallet ‘killing’ MetaMask and airdrops, Chinese RWA tokens: Asia Express

A man from Wellington, the capital city of New Zealand, has been arrested in connection with an FBI-led investigation into a global cryptocurrency fraud operation that allegedly stole $450 million New Zealand dollars ($265 million).According to New Zealand Police, the man is one of 13 individuals charged after authorities executed search warrants across Auckland, Wellington, and California over the past three days.The charges stem from allegations that members of an organized criminal group manipulated seven victims to obtain large amounts of cryptocurrency, which was then laundered through multiple platforms between March and August 2024.The US Department of Justice has indicted the man under federal law, including charges of racketeering, conspiracy to commit wire fraud, and conspiracy to commit money laundering, per the announcement.Source: New Zealond PoliceRelated: Germany seizes $38M in crypto from Bybit hack-linked eXch exchangeScammer used stolen funds to purchase luxury vehiclesProsecutors allege the stolen funds were used to purchase $9 million worth of luxury vehicles and spent lavishly on high-end goods, including designer handbags, watches, and clothing, as well as services such as nightclub access, private security, and rentals in Los Angeles, Miami, and the Hamptons.The accused appeared in Auckland District Court and was granted bail with interim name suppression. He is scheduled to reappear on July 3.“We have worked closely with our law enforcement colleagues in the United States in support of their investigation,” the police stated. They added:“Today’s search warrant and arrest reflects the importance of international partnerships where criminals are operating across borders.”The investigation remains ongoing.Related: Bybit hacker launders 100% of stolen $1.4B crypto in 10 daysCrypto thefts surge to $360 million in AprilDigital asset thefts skyrocketed in April 2025, with nearly $360 million stolen across 18 separate hacking incidents, according to data from blockchain security firm PeckShield.The figure marks a staggering 990% jump from March when reported losses stood at just $33 million. The sharp rise was largely attributed to a single unauthorized Bitcoin transfer that accounted for the bulk of the month’s losses.On April 28, blockchain analyst ZachXBT identified a suspicious $330 million BTC transaction. The incident was later confirmed as a social engineering attack that targeted an elderly US resident, resulting in one of the largest individual crypto thefts to date.Magazine: Binance Wallet ‘killing’ MetaMask and airdrops, Chinese RWA tokens: Asia Express

Panama City Mayor Mayer Mizrachi has hinted at establishing a city-level Bitcoin reserve in a cryptic post following his meeting with two of El Salvador’s Bitcoin policy leaders.“Bitcoin Reserve,” Mizrachi wrote to X on May 16 after meeting El Salvador-based Bitcoiners Max Keiser and Stacy Herbert.While Mizrachi didn’t share details about his discussions with Keiser and Herbert, the timing of the post came 11 days before the Bitcoin 2025 conference in Las Vegas, where Mizrachi is scheduled to speak.Source: Mayer MizrachiThe creation of a Bitcoin reserve in Panama City would follow a recently approved measure permitting the use of crypto for public payments, including taxes, fines and municipal fees.Bitcoin (BTC), Ether (ETH), Tether (USDT) and USDC (USDC) will be accepted once the crypto-to-fiat payment rails are established, Mizrachi said at the time.To push for a Bitcoin reserve at the federal level, Mizrachi would need to collaborate with Panama’s National Assembly to craft legislation. There’s no evidence to suggest that he has taken such measures.Mizrachi’s post follows the recent enactments of two Bitcoin reserve bills in the US states of Arizona and New Hampshire. Ukraine is also reportedly inching closer toward adopting Bitcoin as a national reserve asset, local media reported earlier in the month.Mizrachi, Keiser and Herbert discussed Bitcoin mining, educationA post from Keiser suggests the trio spoke about how Panama and El Salvador can leverage renewable energy to bolster their Bitcoin mining operations.“Bitcoin is transforming Central America. El Salvador’s geothermal & Panama’s hydro-electric will power the Bitcoin revolution.”Herbert also noted that Panama City will integrate El Salvador’s “What is Money?” financial literacy textbook into its online library system.Related: Basel Medical shares down 15% on $1B Bitcoin buying plansKeiser and Herbert have played a crucial role in crafting El Salvador’s Bitcoin policy, which includes a Bitcoin reserve consisting of 6,179 Bitcoin (BTC), worth nearly $640 million.Keiser serves as President Nayib Bukele’s Bitcoin advisor, while Herbert runs the country’s Bitcoin Office.Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

Paraguayan law enforcement has deported three individuals and arrested another for attempting to steal crypto miners at a facility near the country’s Itaipu hydroelectric dam.According to a May 15 statement from Paraguayan prosecutor Irene Rolón, the men were caught by police soon after breaking into a locked section of Teratech SA’s facility in Coronel Bogado, leading to their arrest.Prosecutors believe the men may have had ties to Teratech as independent contractors, but are still waiting on official confirmation from the company’s CEO.The three deported were Chinese nationals Jinping Duan, Tian Jianyun and Zheng Guanglong, who did not have official entry records into the country. Paraguayan authorities and Interpol believe the men illegally entered through Brazil or Bolivia.The three deported Chinese nationals pictured before leaving the country. Source: PDS Radio Y TV DigitalThe other person arrested, Nahun María Velázquez Garcete, is a legal resident in Paraguay but is believed to be part of a criminal organization.He has been charged with aggravated theft and is currently in pretrial detention.The arrested individual was hospitalized in critical condition soon after the arrest, but the injuries sustained weren’t disclosed.Paraguayan officials believe other individuals were involved in the attempted theft and are working to identify those people. As such, the case is still under investigation.Deportees may have been working illegally for monthsRolón believes the undocumented immigrants had been in Paraguay for several months and had come to work as programmers. However, it isn’t clear whether that work was performed for the company.Paraguayan officials are waiting on a report from Teratech’s CEO to determine the exact nature of his relationship with the three men.Related: Bitcoin miner Hive taps Paraguay for low-cost energy partnershipParaguay is considered well-suited for crypto mining operations due to its abundant renewable energy resources, much of which is underutilized.The Itaipu dam has become a popular site for miners to set up, as it supplies all of Paraguay’s local electricity needs and leaves a large amount of excess electricity to tap into.Magazine: Korea to lift corporate crypto ban, beware crypto mining HDs: Asia Express

Key takeaways: Traders expect a Bitcoin price pullback to $90,000, but a bull flag could break out to new highs if profit taking near the range highs reduces. On-chain data suggests the current profit taking is too weak to extinguish Bitcoin’s current price momentum. Bitcoin (BTC) price has spent the bulk of the week pinned below $104,000 to $105,000, which many analysts have labelled as a resistance zone, but an alternative view suggests that BTC is simply consolidating within a bull flag. A bull flag is a continuation pattern that is characterized by a period of sideways price action following a sharp uptrend, and when the structure confirms or breaks from the trendline resistance, the uptrend continues. BTC/USDT 1-day chart. Source: TRDR.ioWhile the range-bound trading portion of the flag is said to represent indecision from buyers and sellers, in this scenario, the absence of buy volume is the primary culprit. As shown in the TRDR.io chart below, Bitcoin’s explosive move to $105,900 from $74,400 was accompanied by large liquidations in the margin markets and robust spot volumes, which aligned with several days of billion-dollar spot BTC ETF inflows. BTC/USDT 1hr chart. Source: TRDR.ioDuring this three-week period, several US-based and international companies also announced plans to purchase Bitcoin and establish BTC treasuries. The spot and futures cumulative volume delta, along with the open interest metric on the chart show traders selling near the range highs and the absence of new long leverage and significantly sized spot positions being opened in this area, whereas drops to range low (bull flag support) sees bids filled on the spot side, but there is still limited use of margin for fresh longs. BTC/USD spot and margin CVD. Source: TRDR.ioBitcoin’s recent cool-down phase is a normal outcome after the near 40% recovery that started on April 8, and the loss of upward momentum resulting from profit-taking in futures markets near the current range high is also to be expected. Bitcoin short-term holder supply profit and loss data from Glassnode supports this view, as shown in the chart below. The onchain data company highlighted profit taking for short-term traders but explained that it does not exceed the statistical norm, leaving room for further price upside. “Recently, the magnitude of STH Realized Profit has surged to almost +3 standard deviations above its 90-day average, reflecting a notable uptick in profit realization. In past cycles, particularly during rallies towards the ATH, this metric has historically climbed to over +5 standard deviations of more. This signals that much stronger profit-taking pressure is often required to overwhelm the inflow demand.” BTC: Short-term holder activity in profit and loss. Source: Glassnode Related: Bitfinex Bitcoin longs total $6.8B while shorts stand at $25M — Time for BTC to rally?Bitcoin should test underlying support before moving higherWith the bulk of Bitcoin’s apparent sell-side liquidity absorbed during the move to $105,000, some analysts warn that a brief flush down to test $100,000 to $90,000 as support could be the next move for BTC price. Bitcoin market liquidity resource Material Indicators said, barring “a serious catalyst,“ […] BTC has a legit support test at $100K, and FireCharts show that the order book is priming for that with asks stacking and bids moving lower.” Bitcoin price liquidity heatmap. Source: Material IndicatorsSharing his view with X followers, analyst Daan Crypto Trades said that the bulk of bullish and bearish narratives with the potential to impact Bitcoin’s price action have “cleared up” and he noted that BTC price has stalled near its all-time high while stocks have continued to rally after President Trump’s US-China trade deal was confirmed. The analyst said that “$90K remains my long-term line in the sand for spot exposure,” adding that he is “cautiously bullish” with price above $90,000 but that is dependent upon how US equity markets perform in the short term. “I would not be surprised to see a short-term flush if stocks were to roll over and make a higher low somewhere. Considering most stocks moved 30% to 50% in a single month, this wouldn’t be that crazy either.” 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 entrepreneurs and their families in France will receive enhanced security measures amid a recent rise in crypto-related kidnappings in the country, Politico reported.According to the May 16 report, the measures include priority access to police emergency lines, home security assessments, and safety briefings from French law enforcement to ensure best practices are being followed.France’s Interior Minister Bruno Retailleau introduced the security measures as part of a broader effort to counter the recent wave of attacks."These repeated kidnappings of professionals in the crypto sector will be fought with specific tools, both immediate and short-term, to prevent, dissuade and hinder in order to protect the industry.”Law enforcement officers will also undergo "anti-crypto asset laundering training,” Retailleau noted.Retailleau met with several local leaders from the crypto industry to discuss the measures following three crypto-related kidnapping incidents in recent months.Two kidnappings and a failed attempt in France this yearThe latest incident occurred on May 13, when assailants attempted to abduct the daughter and grandson of Pierre Noizat, CEO of the French crypto platform Paymium. Fortunately, they managed to fend off the attack, which occurred in broad daylight. The assailants tried to force the pair into a waiting van, but Noizat’s daughter managed to take one of the guns off an assailant and throw it away, local police said.En plein Paris, un homme a été violenté par des individus cagoulés, habillés tout en noir. Ils tentaient de l'enlever. Un homme a surgi, extincteur à la main, pour les faire fuir. →https://t.co/P0qV6PR40v pic.twitter.com/9f4r2Gi7ho— Le Figaro (@Le_Figaro) May 13, 2025On May 3, Paris police freed the father of a crypto entrepreneur who was held for several days in connection with a 7 million euros ($7.8 million) kidnapping plot.Related: SEC hacker sentenced to 14 months in prisonIn January, the co-founder of crypto hardware wallet provider Ledger, David Balland, was abducted from his home in central France during the early hours of Jan. 21. He was held captive until a police operation on the night of Jan. 22 secured his release.Retailleau said earlier this week that he believes the incidents were likely connected.There have been over 150 crypto-related robbery or kidnapping incidents since 2014, with 23 of those incidents occurring in 2025 alone, according to a GitHub database maintained by Bitcoin cypherpunk Jameson Lopp.Lopp noted many of these criminals typically identify future victims through social media posts, public conversations, meetups, and conferences.He strongly advises against peer-to-peer trades — particularly with people you don’t trust — flaunting wealth on social media and wearing crypto-branded clothing.Magazine: Binance Wallet ‘killing’ MetaMask and airdrops, Chinese RWA tokens

Tokenization could open new opportunities for retail investors to access traditionally restricted asset classes, according to Johann Kerbrat, senior vice president and general manager of Robinhood Crypto, who called it “very important for financial inclusion.” Speaking at the Consensus 2025 event in Toronto, Kerbrat said that some real-world assets, such as real estate and private equity, are available only to up to 10% of the US population. “You need to be an accredited investor to invest in private equity right now,” he said. “How many people can afford a house or an apartment in New York?” he elaborated. “But you can get a piece of it with fractionalization, through tokenization. And so we think it makes it a lot easier to be exchanged, a lot more accessible for everybody.”Robinhood's Johann Kerbrat at Consensus 2025. Source: CointelegraphRobinhood has been one of a handful of investment firms or brokerages that have explored RWA tokenization in recent months. Others include BlackRock, Franklin Templeton, Apollo, and VanEck.RWA tokenization is often touted as a means to enhance financial accessibility, with most tokenized funds currently concentrated on the private credit and US treasury markets. According to RWA.xyz on May 16, the total market capitalization of onchain RWA is $22.5 billion across just 101,457 asset holders. On average, each holder owns $221,867 in onchain assets.Related: MultiBank, MAG, Mavryk ink world’s largest $3B RWA tokenization dealStablecoin evolution will create more ‘specialized’ tokensKerbrat also touched on stablecoins, which have emerged as a key crypto use case this cycle. “You will see 100 stablecoins,” he predicted. Kerbrat expects a rise in stablecoins that are “more specialized in a specific market.” According to DefiLlama, dollar-pegged stablecoins dominate the stablecoin sector. The two largest, Tether’s USDt (USDT) and Circle’s USDC (USDC), account for $211.8 billion or 87.1% of the $243.3 billion stablecoin market cap.“If you're trying to move funds from the US to Singapore, maybe you will use a specific stablecoin,” he said. "The shift is going to go from just stablecoin to platforms that are managing all these stablecoins.”Tether's USDT has seen its market share surge over the past few years. Source: DefiLlamaFireblocks policy chief Dea Markova recently told Cointelegraph that there is a growing demand for non-dollar-pegged stablecoins. In April, the Italian finance minister warned that dollar-pegged stablecoins represent a greater risk than US President Donald Trump’s tariffs.Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

The Filecoin Foundation and Lockheed Martin Space have successfully transmitted data in space using a version of the InterPlanetary File System (IPFS) on a satellite orbiting Earth, Marta Belcher, president of the Filecoin Foundation, told Cointelegraph. Filecoin and Lockheed Martin adapted the system for use in space and successfully tested it, Belcher said during the Consensus 2025 conference in Toronto.The IPFS enhances privacy and security compared to traditional web protocols, such as HTTP, by identifying data based on its content rather than its location. This has additional benefits for data transmission in space, Belcher said.“The architecture is well-suited to space because it reduces delays, compensates for data corruption caused by radiation, and enables cryptographic verification to ensure data has not been tampered with,” she said.The foundation is a nonprofit governing the decentralized cloud storage protocol Filecoin (FIL), which uses the IPFS web protocol to store data. Lockheed Martin is one of the world’s largest aerospace companies.Source: Filecoin FoundationDecentralized storage benefits“There’s a multi-second delay from the Moon and a multi-minute delay from Mars,” Belcher said.“With IPFS, you look for a content ID and retrieve the data from wherever is closest — your own device, a nearby satellite, or a lunar station.”Additionally, the IPFS uses a distributed architecture to store multiple copies of data across a global network, reducing reliance on centralized data centers.These multiple copies of data improve reliability in environments where hardware is prone to degradation, helping to ensure the integrity of sensitive materials such as satellite images, according to Belcher.Interest in decentralized archival storage is growing among media companies, and the Foundation is also exploring potential military applications of this technology, Belcher said.“It could be really powerful for media in general to have that deep archive and also the ability to have your records everywhere all over the world when needed,” she said.The FIL token is a utility token that can be used within the Filecoin ecosystem. It has a total market capitalization of approximately $1.8 billion as of May 16, according to Cointelegraph data. Magazine: X Hall of Flame: Bitcoin will ‘start ripping’ as Trump’s polls improve — Felix Hartmann 

Earlier this month, Senator Blumenthal launched an inquiry into whether the Trump family’s crypto venture has violated federal laws.

Benchmark Equity Research raised its COIN price target to $301 three days after Coinbase’s inclusion in the S&P 500. 

At least one partner at Sequoia Capital was reportedly impacted by the recent data breach among Coinbase users, suggesting that data from others at the venture capital firm may also have been compromised. According to a May 16 Bloomberg report, Sequoia Capital Managing Partner Roelof Botha’s personal information available through his Coinbase account was stolen after a group of cybercriminals bribed the exchange’s support agents for access to user data. Though Botha had not publicly disclosed his net worth, estimates suggested he had hundreds of millions of dollars in assets.Coinbase disclosed the data breach in a May 15 blog post, saying that some of its users had been targeted with social engineering attacks after the criminals had access to their personal account information. The company said the group attempted to extort $20 million in exchange for not disclosing the breach, which Coinbase rebuffed.Though the extent of the breach was still unknown, another Bloomberg report suggested that the same type of attacks targeted users at Kraken and Binance. Cointelegraph reached out to representatives from both exchanges but had not received responses at the time of publication.Related: Bitcoin breaks out while Coinbase breaks down: Finance RedefinedCoinbase'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 also filed with the US Securities and Exchange Commission (SEC), estimating that they planned to pay between $180 million and $400 million in remediation and reimbursement to affected users.The exchange’s stock (COIN) fell more than 7% following the reports of the data breach and phishing attacks, to $244. At the time of publication, the price of COIN shares was $264.24.Coinbase CEO in DC to advocate for crypto billsAmid the reports related to the data breach, Coinbase CEO Brian Armstrong was in Washington, DC, to support crypto-related legislation being considered in Congress. Lawmakers in the Senate are expected to vote on a stablecoin bill in a matter of days, and those in the House of Representatives are considering a draft digital asset market structure bill.Magazine: Bitcoin eyes ‘crazy numbers,’ JD Vance set for Bitcoin talk: Hodler’s Digest, May 4 – 10

Solv Protocol has 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 16, the protocol unveiled SolvBTC.AVAX, a token that connects Bitcoin (BTC) to real-world assets like US Treasurys and private credit offered by BlackRock and Hamilton Lane. The new token was developed through a seven-way partnership involving Solv, Avalanche, Balancer, Elixir, Euler, Re7 Labs, and LFJ, the company said. Solv Protocol founder Ryan Chow said the token is a way to link Bitcoin to “real-world economic cycles” in uncorrelated assets such as US government bonds and private credit, as opposed to BTC’s typical boom-and-bust four-year cycle.The token uses a multi-protocol strategy to generate yield involving Elixir’s deUSD stablecoin, Treasurys provided by BlackRock and Hamilton Lane via Elixir, and incorporated on the lending platform Euler to increase RWA exposure.“The yield is received in BTC format,” a Solv Protocol spokesperson told CointelegraphElixir deUSD is a synthetic dollar with nearly $220 million in market capitalization. Source: RWA.xyzSolv is a Bitcoin-centric staking platform that offers yield strategies across various blockchains and decentralized finance applications. The protocol commands more than $2.3 billion in total value locked, according to industry data. Solv Protocol’s TVL. Source: DefiLlamaRelated: Bitcoin supply crunch boosts confidence in $200K target for 2025 — Bitwise CIOThe race to offer Bitcoin yield intensifiesDemand for Bitcoin yield solutions has grown amid the recent wave of institutional adoption of digital assets.Earlier this month, crypto exchange Coinbase launched the Bitcoin Yield Fund, which aims to offer annual returns of between 4% and 8% on BTC holdings. The yield will be earned through a cash-and-carry strategy, which involves purchasing BTC in the spot market and selling a corresponding futures contract, Coinbase said. CoinShares analyst Satish Patel predicted the growing interest in Bitcoin yield in December, noting that more investors now see BTC “not only as a store of value but also as a means to generate yields.”While there are many ways to generate Bitcoin yield, such as leveraging derivatives or yield farming, Michael Saylor’s Strategy introduced its own “BTC Yield” metric to measure the performance of its investment strategy.Strategy’s BTC Yield, which measures how much additional Bitcoin it’s acquiring relative to its outstanding shares, is currently 15.5% year-to-date, according to the company. Magazine: Metric signals $250K Bitcoin is ‘best case,’ SOL, HYPE tipped for gains: Trade Secrets

An Alabama man will spend 14 months in prison for his role in hacking the SEC’s X account to spread false info about Bitcoin ETF approvals.

Key takeaways:The total altcoin market cap (excluding ETH) gained $126 billion in Q2, fueling speculation of an altseason.The altcoin market cap, excluding Ether (ETH), has added $126 billion in Q2, sparking enthusiasm from analysts who have been waiting for an altseason. Crypto analyst Javon Marks noted a breakout that could rival the explosive 2017 bull run. In a recent post on X, Marks highlighted a chart comparing the TOTAL3 index (total market cap of altcoins excluding Bitcoin (BTC) and Ethereum) against the US money supply, suggesting that altcoins may be on the verge of a significant rally. A rise in TOTAL3 against the US money supply suggests that altcoins are gaining value relative to the total liquidity in the US economy, reflecting increased investor interest and capital inflow to altcoins. TOTAL3/US Money supply. Source: X.comMarks emphasized that altcoins have recently bounced off a critical retest level following a breakout, and said, “Altcoins have bounced off of the breakout retest against the US money supply and can deliver one of their most powerful runs since 2017!”Likewise, anonymous crypto trader Moustache shared an analysis on X, highlighting a weekly inverse head-and-shoulders pattern in the TOTAL3 chart. Comparing 2021 and 2025, the chart mirrors the 2021 altcoin season when top altcoins surged 174% against Bitcoin’s 20% during the final leg. The pattern, a bullish reversal indicator, suggests a rally, with the analyst forecasting "much higher levels" for altcoins.Moustache’s TOTAL3 analysis. Source: X.com“Altseason” sparks mixed sentiment among analystsWhile some analysts are on the altcoin rally bandwagon, others are approaching with caution. Technical analyst Crypto Scient explained that the recent rise in altcoin market cap has yet to reflect a higher time frame (HTF) bullish trend shift. The analyst noted that the TOTAL2 trend remained bearish after hitting resistance at the $1.25 trillion level, and said, “Since both BTC and TOTAL are near the resistance zone and TOTAL2 still has some room, I am inclined to believe that we are distributing.”Similarly, Crypto commentator DonaXBT argued that a significant breakdown in Bitcoin's dominance trendline is essential for altcoins to experience a substantial move. The accompanying chart reveals that Bitcoin dominance is above 60%, with the weekly uptrend still intact. Bitcoin dominance. Source: Cointelegraph/TradingViewAccording to the analyst, a decline below the 60% level, followed by a retest of the support zone between 56% and 58%, could serve as the initial catalyst for a full-fledged altcoin season to emerge.Related: Warren Buffett exits crypto-friendly Nubank holdings, netting $250M profitAltcoin spot trading volume is still under $10 billionData from CryptoQuant indicates that altcoin spot trading volumes remain subdued, averaging $3 billion-$5 billion/per day compared to $8 billion-$12 billion/per day in Q4 2024, indicating that altcoins are in the early stages of a rally. Despite these lower volumes, market observers see this as a precursor to significant growth, suggesting that altcoins have yet to reach their peak momentum.Bitcoin and Altcoins spot trading volume. Source: CryptoQuantThe Altcoin Season Index, currently at 24, further supports this outlook by confirming that the market is in Bitcoin season, as noted by Blockchaincenter.net. Historically, an index below 25 indicates Bitcoin dominance, but this can be a positive setup for altcoins. When the index climbs above 30-40, altcoins often experience significant pumps, driven by capital rotation from Bitcoin. With trading volumes showing early signs of recovery and the Altcoin Season Index pointing to a shift, investors’ optimism for an altcoin rally is growing.Related: Spot Bitcoin ETF inflows fall, but BTC whale activity points to bull market accelerationThis 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.

The exchange is leveraging its crypto-as-a-service offering as a way to expand its user base and support the technology’s adoption.

Coinbase can't shake the SEC's probe into its user numbers. Meanwhile, eToro and Galaxy Digital make their Nasdaq debuts.

Sure, Darth Vader is a bad guy—but not like this. Fortnite's AI-powered Star Wars villain spouted unexpected language soon after launch.

Galaxy Digital shares began trading on the Nasdaq stock exchange May 16, completing a years-long process that CEO Mike Novogratz called unfair and infuriating, CNBC reported. The crypto and infrastructure company, which is also listed in Canada, opened trading at $23.50 in its Nasdaq debut.Trading began on the same day Galaxy disclosed that it is working with the US Securities and Exchange Commission (SEC) to tokenize its shares. According to Bloomberg, the tokens representing Galaxy Digital’s shares could be used in decentralized finance applications, like borrowing or lending.Galaxy is among several crypto companies looking to access the US markets under a friendlier regulatory regime in the country. Companies that are also exploring or working on a US listing include Metaplanet, Circle, Kraken, and Gemini. Trading platform eToro completed a listing on May 14.The company has $7 billion in assets on its platform, according to its website. It suffered a loss of $295 million in the first quarter of 2025.Galaxy Digital’s last two quarters. Source: Galaxy DigitalReal-world asset (RWA) tokenization is gaining traction in crypto, though it still represents a small share of the market. Data from RWA.xyz shows the sector's market cap at $22.5 billion — a fraction of both global real-world asset values and major cryptocurrencies like Bitcoin (BTC). However, it’s growing fast, with a 111.8% increase over the past year.One rising trend is tokenizing securities, essentially turning assets like stocks and treasury bonds into tradable tokens on the blockchain. Robinhood is considering building a blockchain that would allow retail investors in Europe to trade tokenized US securities like stocks. Galaxy Digital has plans to tokenize everything from stocks and fixed income to ETFs.At the SEC’s crypto roundtable on May 12, Chair Paul Atkins compared the tokenization of assets to the music industry moving from analog to digital, which, according to Atkins, greatly benefited the American economy.The closer relationships that US President Donald Trump has developed with the industry have sparked new enthusiasm for crypto activity in the country. In addition to the flurry of companies preparing for a US public listing, some other crypto companies have announced their reentry into the local market. Magazine: X Hall of Flame: Bitcoin will ‘start ripping’ as Trump’s polls improve — Felix Hartmann 

A fintech in the South American nation copied the Strategy—formerly MicroStrategy—playbook.

Key takeaways:Bitfinex margin longs fell 18%, despite Bitcoin price rising 24% in 30 days.$6.8 billion in long positions far outweight the current $25 million in shorts.Bitcoin options positioning and spot BTC inflows point to confidence from institutional investors.Bitcoin (BTC) price climbed 23.7% over the past 30 days, yet traders on Bitfinex have cut their leveraged long positions by more than 18,000 BTC during this time. This wave of profit-taking in margin markets has led to speculation that professional traders may not be fully confident in the current $104,000 price level.Bitfinex BTC margin longs, BTC. Source: TradingView / CointelegraphBitfinex margin longs dropped to 65,889 BTC from 80,387 BTC between April 16 and May 16. This shift marks a reversal from the strong bullish margin demand seen between mid-February and mid-March, a period when Bitcoin’s price fell to $82,500 from $97,600. The current decrease in margin longs is likely a sign of healthy profit-taking rather than a turn toward bearish momentum.The reasoning behind this move is not entirely clear, since Bitcoin’s jump above $100,000 occurred on May 8, about three weeks after the margin longs peaked. Still, it would be wrong to suggest that Bitfinex whales have adopted a bearish outlook. Their margin longs now total $6.8 billion, while margin shorts stand at just $25 million, showing a major gap between bullish and bearish positions.Bitfinex BTC margin shorts, BTC. Source: TradingView / CointelegraphThis difference is mainly due to Bitfinex’s low 0.7% annual interest rate for margin trading. By contrast, those using leverage for 90-day Bitcoin futures are paying a 6.3% annualized premium. This gap creates arbitrage opportunities.For example, one can open Bitcoin longs on margin and simultaneously sell an equivalent position in BTC futures to benefit from the rate difference. Margin traders also tend to have longer time frames and higher risk tolerance than average investors, so their position changes are less affected by short-term price moves.Whales unfazed by $105,000 resistance as BTC ETFs drive optimismTo rule out factors limited to margin markets, it is useful to look at Bitcoin options. If traders expect a correction, demand for put (sell) options rises, pushing the 25% delta skew above 6%. In bullish periods, this metric usually drops below -6%.Bitcoin 30-day options delta skew (put-call) at Deribit. Source: Laevitas.chThe current -6% options delta skew shows confidence in Bitcoin’s price, even though data over the past two weeks has ranged from neutral to slightly bullish. This indicates that whales and market makers are not especially concerned about repeated failures to break above the $105,000 barrier.Related: Bitcoin traders’ evolving view of BTC’s role in every portfolio bolsters $100K supportSome of the increased optimism, despite lower demand for leveraged bullish positions, comes from the $2.4 billion net inflows to US spot Bitcoin exchange-traded funds (ETFs) between May 1 and May 15. Therefore, the drop in Bitcoin margin longs does not mean institutional traders are turning bearish, especially when considering the BTC options markets.Although this data does not reveal whether Bitcoin is any closer to breaking above $105,000, the fact that there are $6.8 billion in leveraged margin longs clearly shows that professional traders remain highly optimistic about the price outlook.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.

Zach Witkoff, one of the co-founders of the Donald Trump family-backed crypto platform World Liberty Financial (WLFI), has rebuffed efforts by US lawmakers to investigate the president’s potential conflicts of interest.In a May 15 letter to Senator Richard Blumenthal, lawyers for World Liberty Financial claimed a call to investigate the crypto platform was based on “fundamentally flawed premises and inaccuracies.” Witkoff did not specifically address any allegations, claiming that WLFI was “too busy building” for oversight.“The Company rejects the false choice between innovation and oversight,” said the letter. “What it opposes is the misuses of regulatory authority and uncertainty to suppress lawful innovation.”May 15 letter to Sen. Blumenthal. Source: Zach WitkoffBlumenthal, the ranking member of the US Senate Permanent Subcommittee on Investigations, was one of many Democrats calling for investigations and legislative changes in response to Trump’s ties to WLFI, as well as his TRUMP memecoin and its dinner scheduled for the top tokenholders on May 22. The GENIUS Act, a bill to recognize stablecoins as payment instruments currently being considered in Congress, may be a bellwether for how lawmakers intend to handle the president’s potential conflicts of interest.Stablecoin bill debate continues in Republican-controlled CongressOne of Blumenthal’s and many US lawmakers’ concerns about Trump’s connection to WLFI is the USD1 stablecoin, which the platform launched in March. An Abu Dhabi-based investment firm announced in May that it would use the stablecoin to settle a $2-billion investment in Binance, a crypto exchange that had previously been the target of an investigation by US authorities. “WLFI’s financial entanglements with the President, his family, and the Trump Administration present unprecedented conflicts of interest and national security risks, including potential violations of the foreign emoluments clause,” Blumenthal wrote in a May 6 letter to Witkoff. Related: What are the next steps for the US stablecoin bill?Some Democrats have called for clarification within the GENIUS Act to ensure that Trump was not able to personally profit from stablecoins whose legislation he may have influenced and then have the opportunity to sign into law. However, as of May 16, it was unclear whether any future vote on the bill would address these concerns. Cointelegraph reached out to Sen. Blumenthal’s office for comment but had not received a response at the time of publication. Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

A federal judge sentenced Eric Council Jr., who participated in posting a fake announcement on the US Securities and Exchange Commission’s X account saying it would approve spot Bitcoin (BTC) ETFs, to 14 months in prison.Following a May 16 hearing in the US District Court for the District of Columbia, the Justice Department announced that Council would serve 14 months in prison after pleading guilty to one count of conspiracy to commit aggravated identity theft and access device fraud.“Schemes of this nature threaten the health and integrity of our market system,” said Jeanine Pirro, interim US Attorney for the District of Columbia. “SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies.”Council was part of a group that compromised the X account of the US Securities and Exchange Commission (SEC) through a SIM swap attack in January 2024. Prosecutors had requested that the judge impose a two-year sentence, while Council’s lawyers asked for one year and one day. Court filings showed he earned roughly $50,000 through SIM swap attacks like the one that compromised the SEC’s X account — funds likely subject to forfeiture.Related: Coinbase faces $400M bill after insider phishing attackThe judge ordered Council to serve 36 months of supervised release after his sentence. It was unclear at the time of publication when he would report to prison, but he has been free on a personal recognizance bond since his arrest in October 2024.Other crypto figures have their days in courtCouncil was the latest individual to be sentenced who drew the attention of the crypto industry. Though high-profile criminal cases like those involving executives from cryptocurrency exchange FTX have largely been concluded, others are ongoing.On May 8, former Celsius CEO Alex Mashinsky was sentenced to 12 years following his guilty plea on two felony counts. The criminal trial of former SafeMoon CEO John Karony is also expected to continue for several more days in the US District Court for the Eastern District of New York.Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

Christy Goldsmith Romero of the US Commodity Futures Trading Commission (CFTC) will step down on May 31, leaving three seats open at the financial regulator.In a May 16 announcement, Romero said her last day at the agency would be on May 31, ahead of her reported initial plans to leave if the Senate confirmed former commissioner Brian Quintenz as the new chair. Her departure will come a day after Commissioner Summer Mersinger is expected to step down to join the crypto advocacy organization the Blockchain Association as CEO.“It has been a tremendous honor to conclude my 23 years of federal service at an agency with such an important mission to ensure that financial markets perform their critical role in the US and global economies,” said Romero.Romero and Mersinger’s upcoming departures would leave the CFTC with only two Senate-confirmed members: acting chair Caroline Pham and Commissioner Kristin Johnson, each taking one Republican and Democratic seat, respectively. However, Pham also announced that she planned to leave after Quintenz’s confirmation. The shakeup in leadership potentially gives President Donald Trump the opportunity to pick three more commissioners after the Senate addresses Quintenz’s nomination.Related: Former CFTC lawyer says agency should take lead on memecoin regulationsAssuming Quintenz, likely being positioned for one of the CFTC’s Republican seats, is confirmed, Trump would still be able to radically change the leadership of the commission by choosing four of the five-member panel. CFTC rules require that no more than three commissioners belong to the same political party.Congress looking to clarify SEC, CFTC roles on cryptoThe shakeup in leadership at one of the most significant US financial regulators came as lawmakers in the House were considering draft legislation that could establish a digital asset regulatory framework. The bill is expected to clarify oversight and enforcement authority of the CFTC and Securities and Exchange Commission (SEC) over many cryptocurrencies.During her time at the commission, starting in 2022, Romero helped establish the CFTC’s Technology Advisory Committee, in part in response to addressing regulatory concerns from the crypto industry. She also supported a joint effort by US authorities against cryptocurrency exchange Binance, which resulted in a $2.7-billion settlement with the CFTC.Magazine: SEC’s U-turn on crypto leaves key questions unanswered

Singapore-based Basel Medical Group said it is in “negotiations” to put $1 billion in Bitcoin on its balance sheet as it pursues an “Asia growth strategy.”

Shares of Basel Medical Group are down around 15% after the healthcare company announced plans to buy $1 billion in Bitcoin for its corporate treasury. On May 16, Singapore-based Basel said it was “in advanced discussions with a consortium of institutional investors and high-net-worth individuals […] to acquire a US$1 billion BTC through an innovative share-swap arrangement.The company said the benefits of its planned purchase include creating “one of the strongest balance sheets among Asia-focused healthcare providers” and providing “unmatched financial flexibility for mergers and acquisitions.”It also said the Bitcoin (BTC) treasury would help Basel “[e]stablish “a diversified asset base to weather market volatility.”But the company’s shareholders weren’t sold. Basel’s stock, BMGL, has dropped around 15% on the announcement, according to data from Google Finance.Basel Medical’s shares are down 15% intraday on May 16. Source: Google FinanceRelated: Strive to become Bitcoin treasury companyFueling acquisitionsIn April, Basel announced that it had acquired a peer healthcare provider, Bethesda Medical, for an undisclosed sum.The deal marked “the beginning of Basel Medical Group’s expansion strategy in Singapore and the broader Southeast Asian healthcare market.”Basel’s management team expects that accumulating Bitcoin will aid in these plans. “Our expanded balance sheet will allow us to move quickly on strategic opportunities as we build a premier healthcare platform across high-growth Asian markets,” Darren Chhoa, Basel’s CEO, said in a statement. Bitcoin treasury metrics. Source: Bitcointreasuries.netCorporate Bitcoin treasuriesThis isn’t the first time a company’s shareholders have punished it for announcing plans to build a Bitcoin treasury. GameStop shed nearly $3 billion in market capitalization during a single trading day in March as investors questioned the videogame retailer’s plans to stockpile Bitcoin.“There are question marks with GameStop's model. If bitcoin is going to be the pivot, where does that leave everything else?” Bret Kenwell, US investment analyst at eToro, told Reuters in March. Corporate treasuries collectively hold roughly $80 billion worth of Bitcoin as of May 16, according to data from BitcoinTreasuries.NET. Bitcoin can “potentially be a valuable hedge against growing fiscal deficits, currency debasement, and geopolitical risks” for corporations, asset manager Fidelity Digital Assets said in a 2024 report.Magazine: Bitcoin’s $100K push wakes taxman, Vitalik visits real Moo Deng: Asia Express

Key points:A Bitcoin price close above $105,000 could accelerate momentum and trigger a rally to $130,000.Ether continues to gain strength, which is being mirrored by many altcoins.Bitcoin (BTC) has been consolidating between $100,718 and $105,819 for the past few days, indicating a balance between supply and demand. A positive sign is that the price has held above the psychologically crucial $100,000 level, signaling that the bulls are hanging on to their positions as they anticipate another leg higher.Market intelligence firm Santiment highlighted in a post on X that the failure to rise above $105,000 has caused impatience among retail traders, which “historically is a bullish sign for prices.”Crypto market data daily view. Source: Coin360However, repeated failure to push the price to the all-time high of $109,588 could tempt short-term buyers to book profits. That puts the $100,000 support at risk of a breakdown. If that happens, Bitcoin could be in for a deeper pullback.Could buyers drive the price to a new all-time high, pulling select altcoins higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price predictionBitcoin bulls are struggling to propel the price above the $105,000 overhead resistance, but a positive sign is that the $100,000 support has held.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day exponential moving average ($99,416) and the relative strength index (RSI) in the overbought zone signal that bulls remain in control. If the price closes above $105,000, the BTC/USDT pair is likely to break above the $109,588 resistance. If that happens, the pair could surge to $130,000.Time is running out for the bears. If they want to make a comeback, they will have to swiftly yank the price below the 20-day EMA. If they do that, the pair could plunge to the 50-day simple moving average ($90,628).Ether price predictionEther’s (ETH) pullback is finding support at the breakout level of $2,550, signaling that every minor dip is being purchased.ETH/USDT daily chart. Source: Cointelegraph/TradingViewIf the price turns up from the current level and breaks above $2,750, the ETH/USDT pair could resume its up move. There is resistance at $2,860, but it is likely to be crossed. The pair could then climb to $3,000.The $2,400 level is the crucial support to watch out for on the downside. A break below it could sink the pair to the 20-day EMA ($2,225). If the price rebounds off the 20-day EMA, the bulls will again try to resume the up move.XRP price predictionXRP (XRP) has reached the resistance line after turning down from the overhead resistance of $2.65 on May 14.XRP/USDT daily chart. Source: Cointelegraph/TradingViewIf the price dips below the resistance line, it suggests that the bullish momentum has weakened. That increases the likelihood of a range-bound action between $2.65 and $2 for a few days.Conversely, a solid bounce off the resistance line signals that the bulls are attempting to flip the level into support. Sellers may pose a solid challenge at $2.65, but if the bulls prevail, the XRP/USDT pair could reach $3.BNB price predictionBuyers have successfully defended the $644 level in BNB (BNB), but the failure to start a strong rebound suggests that the bears have kept up the pressure.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe zone between $644 and the 20-day EMA ($631) is expected to attract buyers. If the price turns up from the support zone, the bulls will strive to kick the price to the overhead resistance at $693.On the contrary, a break and close below the 20-day EMA signals that the higher levels are attracting solid selling by the bears. The BNB/USDT pair could then plummet to the 50-day SMA ($604).Solana price predictionSolana (SOL) is facing stiff resistance at $180, but a positive sign is that the bulls have not ceded much ground to the bears.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day EMA ($161) and the RSI in the positive zone indicate the path of least resistance is to the upside. If buyers propel the price above $185, the SOL/USDT pair could resume its uptrend and travel to $210.The 20-day EMA is the critical support to watch out for on the downside. A break and close below the 20-day EMA suggests that the bulls are rushing to the exit. The pair could then decline to the 50-day SMA ($140).Dogecoin price predictionDogecoin (DOGE) is attempting to bounce off the breakout level of $0.21, signaling demand at lower levels.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day EMA ($0.20) and the RSI in the positive territory suggest that buyers are in command. A break and close above $0.26 indicates the resumption of the up move. The DOGE/USDT pair could then rally to $0.31.Sellers will have to tug the price below the 20-day EMA to invalidate the bullish view. The pair could then tumble to the 50-day SMA ($0.17), suggesting a possible range formation in the near term. Cardano price predictionCardano (ADA) turned down from $0.86 on May 12 and dropped to the neckline of the inverted head-and-shoulders pattern. ADA/USDT daily chart. Source: Cointelegraph/TradingViewA strong rebound off the neckline suggests a positive sentiment where the bulls are buying on dips. The bulls will then attempt to shove the price above the $0.86 resistance. If they do that, the ADA/USDT pair could surge to $1.01.Contrarily, a break and close below the neckline suggests that the bears have overpowered the bulls. The pair could descend to the 50-day SMA ($0.68) and later to the solid support at $0.60.Related: Bitcoin breakout odds climb as all-time highs meet $90K dip warningSui price predictionSui (SUI) pulled back to the 20-day EMA ($3.62) on May 15, but the long tail on the candlestick shows solid buying at lower levels.SUI/USDT daily chart. Source: Cointelegraph/TradingViewBoth moving averages are sloping up, and the RSI is in the positive territory, indicating that bulls have the upper hand. The buyers will try to resume the up move by pushing the price above the $4.25 resistance. If they can pull it off, the SUI/USDT pair could soar to $5. Sellers are expected to pose a strong challenge in the $5 to $5.37 zone.Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it suggests that the bulls are booking profits. That may pull the pair down to $3.12.Chainlink price predictionChainlink (LINK) has turned down from the resistance line of the descending channel pattern, implying that the bears are selling on rallies.LINK/USDT daily chart. Source: Cointelegraph/TradingViewA minor positive is that the bulls have successfully defended the 20-day EMA ($15.56). Buyers will again attempt to thrust the price above the resistance line. If they succeed, the LINK/USDT pair could rally to $19.80 and then to $21.30.This positive view will be invalidated in the near term if the price plummets below the neckline. The pair may then drop to the 50-day SMA ($14), which is a crucial support to watch out for. A break and close below the 50-day SMA suggests the pair may remain inside the channel for some more time.Avalanche price predictionAvalanche (AVAX) took support at the 20-day EMA ($22.78) on May 15, indicating buying on dips.AVAX/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA continues to slope up, and the RSI is in the positive territory, signaling an advantage to buyers. The bulls will have to drive the AVAX/USDT pair above $26.84 to open the doors for a rally to $31.73 and subsequently to $36.Sellers are likely to have other plans. They will try to pull the price below the 20-day EMA. If they manage to do that, it shows that the markets have rejected the breakout. The pair may slump to the 50-day SMA ($20.57).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.

Nyan Heroes, a Solana game featuring cats in robot suits, is coming to an end. The price of NYAN is now down nearly 99% from peak.

ChatGPT maker OpenAI is pushing software development into new territory with cloud-based AI agents that work while you're at lunch.

Shares of AI cloud computing company CoreWeave (CRWV) surged on May 16 after chip giant Nvidia revealed a large ownership stake, signaling growing corporate and institutional interest in the newly public company.CRWV stock climbed as much as 26.3% in New York trading, pushing its market capitalization above $38 billion. Trading volumes were more than double the daily average, according to Yahoo Finance data.The stock was last seen trading around $81, up 23% on the day. CRWV has climbed to $81 a share on May 16. Source: Yahoo FinanceCoreWeave’s rally was sparked by regulatory filings from Nvidia showing that the company owned $900 million of CRWV stock at the end of the first quarter. The value of the holdings has more than doubled since March 31, assuming Nvidia hasn’t sold any shares since then.As CNBC reported, Nvidia’s ownership stake at the time of CoreWeave’s initial public offering (IPO) was 17.9 million shares.CoreWeave’s stock has gained more than 100% from its IPO price of $40 in late March. It has vastly outperformed the Nasdaq Composite Index and broader US stock market over that period.The Nvidia revelations overshadowed CoreWeave’s fiscal first-quarter earnings report, which showed a 420% surge in revenue but also a 487% spike in operating expenses. The company’s net loss widened by 143% compared to a year earlier. Its stock declined shortly after the financials were released on May 14. CoreWeave’s fiscal first quarter earnings results. Source: CoreWeaveCoreWeave’s complicated history with cryptoCoreWeave’s origin story began in 2017 as an Ethereum mining operation called Atlantic Crypto. The company began transitioning away from digital assets the following year after the onset of the bear market.By 2019, it had rebranded to CoreWeave and began leveraging its GPU infrastructure to provide cloud computing services. The company then rode out the AI boom and its unique relationship with Nvidia to secure a massive IPO launch. CoreWeave has landed other major investors, with Cointelegraph reporting in March that OpenAI reached an $11.9 billion deal with the company to supply AI infrastructure for the ChatGPT developer’s massive data needs. CoreWeave is operating in a much broader cloud computing industry, which is forecast to become a $2 trillion behemoth by 2030 as AI applications gain mainstream adoption, according to Goldman Sachs. Cloud computing’s total addressable market by 2030. Source: Goldman SachsAnother estimate by Fortune Business Insights suggests that the global cloud AI market alone could approach $600 billion by 2032, marking a compound annual growth rate of 28.5%.Magazine: Creating ‘good’ AGI that won’t kill us all — Crypto’s Artificial Superintelligence Alliance

News broke on May 15 that Coinbase was the target of a $20 million extortion attempt after cybercriminals recruited overseas support agents to leak user data for social engineering scams.While less than 1% of Coinbase’s active monthly users were reportedly affected, the expected remediation and reimbursement expenses range from $180 million to $400 million, as the exchange pledged to repay all phishing attack victims.Despite the attack on the world’s third-largest cryptocurrency exchange, investor sentiment remains optimistic, with the Fear & Greed Index remaining firmly in the “Greed” zone above 69, according to CoinMarketCap data.Fear & Greed Index, 30-day chart. Source: CoinMarketCapAdding to investor optimism, Coinbase saw over $1 billion worth of Bitcoin withdrawn on May 9, marking the highest net outflow recorded in 2025 so far, triggering analyst predictions of a supply-shock driven Bitcoin rally.Coinbase faces $400 million bill after insider phishing attackCoinbase was hit by a $20 million extortion attempt after cybercriminals recruited overseas support agents to leak user data, the company said on May 15.Coinbase said a group of external actors bribed and coordinated with several customer support contractors to access internal systems and steal limited user account data.“These insiders abused their access to customer support systems to steal the account data for a small subset of customers,” Coinbase said, adding that no passwords, private keys, funds or Coinbase Prime accounts were affected.Less than 1% of Coinbase’s monthly transacting users’ data was affected by the attack, the company said.Source: CoinbaseAfter stealing the data, the attackers attempted to extort $20 million worth of Bitcoin (BTC) from Coinbase in exchange for not disclosing the breach. Coinbase refused the demand.Instead, the company offered a $20 million reward for information leading to the arrest and conviction of those responsible for the scheme.Continue reading$1 billion Bitcoin exits Coinbase in a day as analysts warn of supply shockInstitutional demand for Bitcoin is growing, as Coinbase, the world’s third-largest cryptocurrency exchange, recorded its highest daily outflows of Bitcoin in 2025 on May 9.On May 9, Coinbase saw 9,739 Bitcoin, worth more than $1 billion, withdrawn from the exchange, the highest net outflow recorded in 2025, according to Bitwise head of European research André Dragosch.“Institutional appetite for Bitcoin is accelerating,” Dragosch added in a May 13 X post.Source: André DragoschThe outflow occurred as Bitcoin traded above $103,600 and just days after the White House announced a 90-day reduction in reciprocal tariffs between the US and China, easing market concerns and lifting broader investor sentiment.Joint statement on US-China meeting in Geneva. Source: The White HouseThe 90-day suspension of additional tariffs removed the risk of “sudden re-escalation,” which may help Bitcoin, altcoins and the wider stock market rally due to improved risk appetite, Nansen’s principal research analyst, Aurelie Barthere, told Cointelegraph.Continue readingDeFi lender Aave reaches $40 billion in value locked onchainAave, a decentralized finance (DeFi) protocol, has reached a new record of funds onchain, according to data from DefiLlama.In an X post, Aave said it topped $40.3 billion in total value locked (TVL) on May 12. Onchain data reveals that Aave v3, the latest version of the protocol, has about $40 billion in TVL.Aave is a DeFi lending protocol that lets users borrow cryptocurrency by depositing other types of cryptocurrency as collateral. Meanwhile, lenders earn yield from borrowers. “With these milestones, Aave is proving its dominance in the Lending Space,” DeFi analyst Jonaso said in a May 12 X post. TVL represents the total value of cryptocurrency deposited into a protocol’s smart contracts. Aave v3’s TVL over time. Source: DefiLlamaContinue readingSEC delays Solana ETF as decisions for Polkadot, XRP loomThe US Securities and Exchange Commission (SEC) pushed back its decision on a proposed spot Solana exchange-traded fund (ETF), with the cryptocurrency industry now looking to the deadlines for the Polkadot and XRP-based ETFs in June.The SEC delayed its decision on listing Grayscale’s spot Solana (SOL) Trust ETF on the New York Stock Exchange (NYSE) to October 2025, according to a May 13 filing by the securities regulator.Delay on Grayscale’s Solana ETF. Source: SECThe decision came the week after the SEC delayed its ruling on Canary Capital’s Litecoin (LTC) ETF, Bloomberg Intelligence analyst James Seyffart wrote in a May 5 X post.Source: James SeyffartSpot ETFs are key drivers of liquidity and institutional adoption for digital assets. For Bitcoin, the US spot Bitcoin ETFs accounted for an estimated 75% of new investment after launching, which helped BTC recapture the $50,000 mark in February 2024, a month after the ETFs debuted for trading.While a Solana ETF may generate only a fraction of the inflows of Bitcoin ETFs, it could increase Solana’s institutional adoption in the long term by offering investors a “regulated investment vehicle” that may still attract billions of dollars in capital, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph.Continue readingStarknet hits “Stage 1” decentralization, tops ZK-rollups for value lockedEthereum layer-2 scaling platform Starknet has reached a decentralization milestone laid out by Ethereum co-founder Vitalik Buterin and is now the largest zero-knowledge rollup-based network by total value locked.Starknet said in a news release shared with Cointelegraph that it has hit “Stage 1” decentralization, according to a framework Buterin laid out in 2022, which means the network operates with limited oversight or “training wheels.”Starknet added that the framework was the “gold standard onchain tool for analyzing Ethereum scaling solutions,” and said it achieved the milestone through changes such as creating a security council and censorship-avoidance mechanisms. While the system still allows intervention from a security council, it has implemented a fully functional validity proof system governed by smart contracts.Starknet is now the only layer-2 ZK-rollup network to have reached Stage 1 and has grown to be the largest ZK-rollup blockchain with a total value locked of $629 million, just ahead of ZKsync’s $610 million, according to L2beat. Starknet is the fifth-largest layer-2 network by value locked, with the top four all Optimistic rollup-based, having reached Stage 1 decentralization using fraud proofs. Continue readingDeFi market overviewAccording to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.Solana-based memecoin Dogwifhat (WIF) rose over 43% as the week’s biggest gainer, followed by decentralized exchange Raydium’s (RAY) token, up nearly 19% over the past week.Total value locked in DeFi. Source: DefiLlamaThanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

Coinbase user Data Hacked, FTX Repayments Coming, Bond Yields soar FOMO HOUR EP359 Hackers demand $20m after Coinbase data hacked. SEC probes Coinbase on inflating user numbers. FTX to begin $5b distribution on May 30. Wisconsin Investment Board exits BTC ETF. China’s DDC Enterprise to adopt BTC reserves. China’s Addentax to buy 8k BTC. Brazil’s Meliuz buys $28.4m BTC for reserve. BTC to $1m, altcoins with products will win: Hayes. BTC has more upside potential than gold: JPM. SEC releases FAQs on broker-dealer transfer rules. BlackRock integrates BUIDL with Euler. Sonic Labs to liquidate Multichain Foundation. Nasdaq grants extension on 21Shares DOT ETF. ADA ETF approval 55% likely this year. Tether’s freeze mechanism has loophole: AMLBot. US DoJ indicts 12 for $263m crypto theft. US DoJ to charge Tornado Cash’s Roman. CoinMarketCap launches Pre-TGE project launchpad. FOMO HOUR brings you the biggest daily news, updates and events from inside and outside of the crypto and macro spheres! Join hosts Farokh, Mando and Tyler as they cover some of the biggest topics at present with some of the biggest names in the ecosystem. Streaming live 5 days per week, Monday to Friday 10:00 AM EST to 11:00 AM EST on YouTube and X. JOIN YEET = https://yeet.com/register?aff=fomohour PLAYLIST = https://www.youtube.com/playlist?list=PLGSgoImPFTiVpkHhLXF78cE_Z3uG7VNGL PODCAST = https://x.com/i/spaces/1kvKpydgqMQGE LIVE SPACE = Links: https://linktr.ee/fomohour https://twitter.com/fomohour https://www.rug.fm/ https://x.com/rugradio Hosts: https://twitter.com/farokh https://twitter.com/rektmando https://twitter.com/tyler_did_it Myriad: https://myriad.markets https://x.com/MyriadMarkets #bitcoin #crypto #podcast

Matt Hougan, chief investment officer at Bitwise, predicts Bitcoin (BTC) will reach $200,000 by the end of 2025 due to a supply shock from heightened institutional demand.In an interview with Cointelegraph at Consensus 2025 in Toronto, the executive said that Bitwise's Bitcoin price prediction model is driven exclusively by supply and demand metrics. Hougan laid out the specific figures driving the forecast:"We know that miners will produce 165,000 BTC this year. Already, publicly traded companies have bought more than that. ETFs are at $6 billion in inflows. We think governments are going to be buying. We see this sort of structural difference between demand and supply.""I think eventually that will exhaust sellers at the $100,000 level where we have been stuck, and I think the next stopping point above that is $200,000," the executive said. Bitwise is one of the issuers of Bitcoin exchange-traded funds (ETFs) in the US markets, with nearly $4 billion in assets under management through its Bitwise Bitcoin ETF (BITB) as of May 14.Eleanor Terrett, Ben Gagnon, Matt Hougan and Tom Lee at Consensus 2025. Source: CointelegraphThis institutional demand has also bolstered the market with liquidity, likely making the four-year Bitcoin halving cycle, with significant drawdowns of up to 90% in between cycles, a "vestige of the past," Hougan said.Related: "The world is trying to hoard Bitcoin right now" — Eric TrumpMichael Saylor's Strategy single-handedly shifting marketsOne of the key corporate players driving Bitcoin demand is Strategy. The company has pioneered the BTC reserve strategy and currently holds 568,840 BTC in its corporate treasury, according to SaylorTracker. Author and Bitcoin analyst Adam Livingston said recently that Strategy is "synthetically halving Bitcoin" by outpacing the newly mined supply.Livingston added that Strategy has accumulated 379,800 BTC in the last six months and will likely control Bitcoin lending markets if it continues its rapid pace of accumulation."BTC's global cost of capital will no longer be set by 'the market.' It will be set by the gravitational policies of the first Bitcoin superpower: Strategy," Livingston wrote.Bitcoin miner reserves are in long-term decline. Source: CryptoQuantStrategy's effect on Bitcoin's supply is so pronounced that market analyst Ki Young Ju says Bitcoin's supply is now deflationary, with an annual deflation rate of -2.33%.The increased demand has led some analysts to forecast a $1 million Bitcoin price tag in the coming decade.However, analyst and investor Arthur Hayes recently predicted BTC would hit $1 million in three years. Hayes argued that a deteriorating macroeconomic environment and liquidity injected from central banks will continue to drive prices higher.Magazine: Metric signals $250K Bitcoin is ‘best case,’ SOL, HYPE tipped for gains: Trade SecretsThis 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.

The stalling of key stablecoin legislation in the United States Senate was a minor setback, and the bill will pass in the coming weeks, said Cody Carbone, CEO of Digital Chamber, a Washington, DC,-based blockchain trade association and advocacy group.Speaking to Cointelegraph at Consensus 2025, Carbone argued it is in the best interests of the US to pass comprehensive stablecoin regulations to protect US dollar hegemony in global markets, which has bipartisan appeal and support. Carbone said:"These things never move as quickly as we want them to move, but it's stablecoin legislation. This Congress has already moved more expeditiously than we ever could have imagined. So, yes, it's a bump in the road, but I think very, very shortly, we will have another vote."The Guiding and Establishing National Innovation in U.S. Stablecoins of 2025, or GENIUS Act, is seen as a critical piece of legislation. Failing to pass comprehensive regulatory reform before the midterm elections in 2026 could mean a reversal in the positive regulatory environment and a downturn in the crypto markets."Negotiations have continued, and so I am still very optimistic,” Carbone said. “This bill is going to pass the Senate in the next few weeks.”The GENIUS Act of 2025. Source: US SenateRelated: What are the next steps for the US stablecoin bill?Partisan politics and Trump's involvement in crypto blamed for bill failureThe act failed to pass a procedural vote in the Senate on May 8 after several Democratic lawmakers withdrew support for the bill, citing US President Donald Trump's involvement in crypto as a potential cause for ethics concerns and the primary driver for backpedaling support for the bill at the last minute.Coinbase chief legal officer Paul Grewal likewise said that Trump's crypto ties complicate the regulatory process, as lawmakers continue to scrutinize his activities in the memecoin market, decentralized finance, and the non-fungible token (NFT) sector.Republican Senator Tim Scott fired back against the concerns voiced by Democratic policymakers, attributing the failure to partisan politics and an attempt by Democrats to prevent Trump from achieving the administration's digital asset goals.The latest version of the bill removes references to the Trump family and could pass the Senate by the end of May, some industry executives say.Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

The woman, identified only as “A,” was convicted on May 15 of embezzlement and fraud for stealing $488,000, 683 million won, in crypto.

The country’s first deputy chairman of its committee on finance told local media he plans to submit a new bill “in the near future."

Vine Coin, JellyJelly, and now Dupe. Companies are launching Solana tokens as a way to market and fundraise their projects.

The streaming service has announced plans to use generative AI to link interactive ads with appropriate shows on its ad-supported tier.

U.S. District Judge Analisa Torres said Thursday that even if she had jurisdiction, she would still deny the motion as “procedurally improper.”

Grok’s references to “white genocide” drew mockery and memes, fueling speculation over Elon Musk’s influence as xAI blamed a prompt update.

Cointree was fined after voluntarily disclosing delays in filing suspicious activity reports, as AUSTRAC intensifies crypto oversight.

Defendants allegedly stole hundreds of millions in crypto and then blew it on supercars, private jets, and designer bags.