Bitcoin is refusing to give up on its quest to revisit $108,000 and beyond, but concerns over a trend change are growing louder. Key points: Bitcoin and gold move higher in step amid jitters over Japan’s debt problem reach “boiling point.” $108,000 remains a keen target for Bitcoin bulls amid ongoing corporate buying. Read more
Big names, including Securitize, Ethena, Ant Digital and Tradeable, see custom-built Ethereum L2s as the future for trillions in RWAs. Shortly before Ethereums shock 50% price surge earlier this month, when bearishness about its roadmap was reaching its zenith, Real Vision founder Raoul Pal was asked on a podcast if he thought Ethereum was cooked. The former Goldman Sachs executive said hed heard that narrative a lot, but it was wrong not least because TradFi considers Ethereum to be the Microsoft of blockchain. “It clearly works very well for what the financial markets need,” he said. Read more
Trugard and Webacy have launched a machine learning–powered AI tool to detect crypto wallet address poisoning, claiming a 97% success rate. Crypto cybersecurity firm Trugard and onchain trust protocol Webacy have developed an artificial intelligence-based system for detecting crypto wallet address poisoning. According to a May 21 announcement shared with Cointelegraph, the new tool is part of Webacy’s crypto decisioning tools and “leverages a supervised machine learning model trained on live transaction data in conjunction with onchain analytics, feature engineering and behavioral context.” The new tool purportedly has a success score of 97%, tested across known attack cases. “Address poisoning is one of the most underreported yet costly scams in crypto, and it preys on the simplest assumption: That what you see is what you get,” said Webacy co-founder Maika Isogawa. Read more
The GENIUS Act would legitimize stablecoins for institutional adoption and set a precedent for other global jurisdictions, according to the managing partner of DWF Labs. Stablecoin adoption among institutions could surge as the United States Senate prepares to debate a key piece of legislation aimed at regulating the sector. After failing to gain support from key Democrats on May 8, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act passed the US Senate in a 66–32 procedural vote on May 20 and is now heading to a debate on the Senate floor. The bill seeks to set clear rules for stablecoin collateralization and mandate compliance with Anti-Money Laundering laws. Read more
"Invisible" crypto infrastructure provider SukuPay is now integrated into Guatemala's biggest banking provider, Banco Industrial. Guatemala’s largest bank, Banco Industrial, has integrated crypto infrastructure provider SukuPay into its mobile banking app, allowing locals to more easily receive remittances powered by blockchain technology. SukuPay’s infrastructure has been fully embedded inside the Zigi payment app, allowing Guatemalans to receive funds from the United States instantly for a $0.99 flat fee, the company disclosed on May 21. Users of the Zigi app do not need a crypto wallet or an International Bank Account Number (IBAN) to receive the funds, the company said. Read more
Hong Kong's Legislative Council has passed the Stablecoin Bill, paving the way for licensed fiat-backed stablecoin issuers by year-end and positioning the region as a potential global Web3 hub. Hong Kong’s Legislative Council passed the Stablecoin Bill, paving the way for a regulated framework that could position the region as a global leader in digital assets and Web3 development. In a May 21 post on X, Legislative Council member Johnny Ng Kit-Chong said the bill had passed its third reading, clearing the final hurdle for adoption. “It is expected that by the end of this year, major institutions will be able to apply to the Hong Kong Monetary Authority to become licensed stablecoin issuers,” Ng said. Read more