Cointelegraph.com
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Cointelegraph.com - 11:45 May 09, 2025
Taiwan legislator Ko Ju-Chun proposed allocating a small percentage of the Taiwanese reserves to Bitcoin as part of the diversified reserve strategy. Taiwanese lawmaker Ko Ju-Chun has called on the government to consider adding Bitcoin to its national reserves, suggesting it could serve as a hedge against global economic uncertainty. Ko, a legislator at-large in Taiwan’s legislative body, the Legislative Yuan, took to X on Friday to report that he had advocated Bitcoin (BTC) investment by the Taiwanese government at the National Conference on May 9. In his remarks, Ko cited Bitcoin’s potential to become a hedge amid global economic risks and urged Taiwan to recognize the cryptocurrency alongside gold and foreign exchange reserves to boost its financial resilience. Read more -
Cointelegraph.com - 10:05 May 09, 2025
Bitcoin reaches a key battleground at $104,000, but bulls are starting to struggle with upside momentum as new all-time highs suddenly come within reach. Key points: Bitcoin (BTC) is at its highest levels since January, and traders are eyeing key levels to watch for what’s next. After hitting $104,000, BTC/USD is retracing to establish support, but the fate of $100,000 is among the concerns for market participants. Read more -
Cointelegraph.com - 09:03 May 09, 2025
Bitcoin‘s surge past $100,000 for the first time in three months prompts predictions for a further rally toward $180,00 and beyond. Key takeaways: Bitcoin was up 4.3% on May 9, after breaking $100,000 for the first time since February. BTC price gains trigger $800 million in short liquidations, the largest since 2021. Read more -
Cointelegraph.com - 08:24 May 09, 2025
The $38 million crypto seizure from Bybit hack-linked eXch was the third-largest crypto confiscation in the history of Germany’s federal criminal police. German law enforcement seized 34 million euros ($38 million) in cryptocurrency from eXch, a cryptocurrency platform allegedly used to launder funds stolen after Bybit’s record-breaking $1.4 billion hack. The seizure, announced on May 9 by Germany’s Federal Criminal Police Office (BKA) and Frankfurt’s main prosecutor’s office, involved multiple crypto assets, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Dash (DASH). The move marks the third-largest crypto confiscation in the BKA’s history. The authorities also seized eXch’s German server infrastructure with over eight terabytes of data and shut down the platform, the announcement added. Read more -
Cointelegraph.com - 08:10 May 09, 2025
Pi Network is not “dead” in the sense of being completely abandoned or defunct, but it is struggling significantly with its price, user confidence and ecosystem development. When Pi Network first hit the scene in 2019, it had a simple but compelling pitch: What if you could mine cryptocurrency straight from your phone — no expensive gear, no massive electricity bills, just a tap a day on an app? It caught fire. Millions of people jumped on board, lured by the idea of “free” mobile mining and a chance to get in early on the next big thing. The app made it easy: You signed up, invited a few friends, tapped a button every 24 hours, and watched your Pi (PI) balance slowly grow. With the social referral model fueling growth, it wasn’t long before over 70 million users had signed up worldwide. Read more -
Cointelegraph.com - 06:22 May 09, 2025
Crypto banking group Sygnum says it doesn’t expect Solana to beat Ethereum in the medium term, partly due to the blockchain’s revenues being too tied to memecoins. Solana has yet to show convincing signs that it could surpass Ethereum as the preferred blockchain for institutions, as its revenue, heavily reliant on memecoins, is considered unstable, according to crypto bank group Sygnum. In a May 8 blog post, Sygnum said that the current sentiment around Ethereum “remains poor,” with the market focused on Solana’s “transaction volumes and its recent dominance in fee generation.” However, Sygnum said “the medium-term outlook will primarily be shaped by traditional financial institutions’ platform choices to bring their product offerings,” not by sentiment. Read more -
Cointelegraph.com - 06:19 May 09, 2025
Diners will soon be able to pay for their steaks with satoshis at the American fast food outlet. American fast food outlet Steak ‘n Shake has announced it will begin accepting Bitcoin as payment at all locations starting on May 16. The firm said on X on May 9 that it was making the cryptocurrency available to more than 100 million customers, adding that “the movement is just beginning,” before signing off as “Steaktoshi.” “Our goal is to utilize Bitcoin at all locations, including all international units. Each country will announce its own launch date,” Steak ‘n Shake Chief Operations Officer Dan Edwards told Cointelegraph. Read more -
Cointelegraph.com - 00:44 May 09, 2025
US Securities and Exchange Commission Commissioner Caroline Crenshaw says if approved, the settlement with Ripple would join the long line of dismissals that is slowly eroding the credibility of SEC lawyers in court. A crypto-skeptical commissioner at the US Securities and Exchange Commission has blasted her agency over its settlement letter that could finally end the Ripple legal saga. The SEC and Ripple filed a joint settlement letter in a New York court asking for the August 2024 injunction against Ripple to be dissolved and $75 million of the $125 million in civil penalties held in escrow to be returned to the crypto firm, according to a May 8 statement from the SEC. SEC Commissioner Caroline Crenshaw blasted the pending deal in a May 8 statement, saying it would damage the regulators’ ability to keep crypto firms in line and undermine the court’s ruling. Read more -
Cointelegraph.com - 00:19 May 09, 2025
Coinbase’s total revenue fell to $2 billion in Q1 as trading volumes across the market slowed, with net income falling dramatically as crypto prices slumped. Crypto exchange Coinbase’s total revenue fell 10% quarter-over-quarter to $2 billion in Q1, missing industry estimates by 4.1% as trading activity slowed across the market. Coinbase’s net income was sliced by 95% from a near-company record $1.29 billion in Q4 to $66 million, in a large part due to Coinbase marking a $596 million paper loss on its crypto holdings. The firm’s earnings per share of $1.94, however, managed to beat the Zacks Consensus Estimate of $1.85 for the quarter. Read more -
Cointelegraph.com - 23:03 May 08, 2025
Publicity stunt master Justin Sun is finally blasting into space on Blue Origin — and you can join him. Vietnam’s new TradFi L1. Asia Express. Crypto exchange HTX (formerly Huobi) said it will send one user a $6 million ticket to blast off to space alongside Justin Sun in July 2025. The campaign will select five additional finalists to join seven previous winners to form a 12-person shortlist. One person will ultimately be chosen to participate in the commercial spaceflight. The exchange has actually been talking about doing this since 2021 when Sun was revealed as the winner of a $28 million auction for a ten minute trip into space. It’s unclear why the trip itself has been delayed so long, but scheduling conflicts have been cited. One bonus for Sun, is that he’s received four years of publicity about the very, very expensive promotion. The latest announcement comes amid renewed scrutiny of space tourism, following Blue Origins NS-31 mission in April that sent pop star Katy Perry, TV host Gayle King, and Jef... -
Cointelegraph.com - 21:59 May 08, 2025
Stablecoins continue to attract attention from big tech firms and legacy financial institutions, reacting to demand from retail investors. Tech company Meta is reportedly exploring integrating stablecoin payments into its platforms after a three-year hiatus from cryptocurrencies, Fortune reported, citing sources familiar with the matter. The Facebook parent held talks with several crypto infrastructure firms in consultation but has not chosen a decisive course of action, according to the report. One source said the company may take a multi-token approach and integrate support for popular stablecoins such as Tether's USDt (USDT), Circle's USD Coin (USDC) and others. Read more -
Cointelegraph.com - 21:18 May 08, 2025
The company touted the speed and low cost of using XRP and related technologies in its payment network of medical service providers. Wellgistics Health, a healthcare infrastructure company, will integrate XRP (XRP) and related technologies into its payment network to streamline transactions between pharmacies, medical suppliers and prescription medication manufacturers, the company said in an announcement on May 8. Wellgistics cited the finality time of XRP transactions and reduced transaction costs, which are fractions of a penny, compared to legacy financial architecture like automated clearinghouse (ACH) payments or wire transfers, as reasons for using XRP. Brian Norton, CEO of Wellgistics Health, said in the announcement: The integration of XRP will reduce cross-border friction and allow transactions between different businesses in the supply chain to settle instantly, in real time, the announcement reads. Read more -
Cointelegraph.com - 20:50 May 08, 2025
The deal reflects competition among crypto exchanges to dominate the burgeoning derivatives market. Coinbase’s agreement to buy Deribit highlights the increasing importance of financial derivatives for cryptocurrency exchanges, according to industry executives. On May 8, Coinbase, the US’s largest crypto exchange by trading volume, agreed to acquire crypto derivatives platform Deribit for $2.9 billion in the crypto industry’s largest corporate acquisition to date. The deal reflects increasing competition among digital asset exchanges and brokerages — including Coinbase, Kraken and Robinhood — to dominate the burgeoning crypto derivatives market. Read more -
Cointelegraph.com - 20:38 May 08, 2025
Pro Bitcoin traders might use bullish options strategies to build pressure on short sellers. Key takeaways: 97% of the $8.3 billion in Bitcoin put options expire worthless at a $102,000 BTC price. Short covering above $105,000 could trigger a Bitcoin price rally to new highs. Read more -
Cointelegraph.com - 20:26 May 08, 2025
Michelle Bond, facing campaign finance charges, is one of the last significant figures tied to cryptocurrency exchange FTX, through her husband, to be awaiting trial. Michelle Bond, the wife of former FTX Digital Markets co-CEO Ryan Salame, who faces federal campaign finance charges, is pushing for dismissal on the grounds that US prosecutors deceived her husband in a plea deal. In a May 7 filing in the US District Court for the Southern District of New York, Bond’s lawyers reiterated some of the claims Salame made in opposing his plea deal with the government, which ultimately still led to him serving time in prison. She claimed that prosecutors obtained a deal with Salame through “stealth and deception” by allegedly agreeing they would not file charges against Bond. “Mr. Salame and Ms. Bond’s attorneys were advised that the agreement to cease investigating Ms. Bond could not be placed within the four corners of the Salame plea or other written agreement, but the government still offered it as an inducement... -
Cointelegraph.com - 19:35 May 08, 2025
A federal court has agreed with the Trump-appointed US attorney to levy a harsh sentence on former Celsius CEO Alex Mashinsky. The US federal court for the Southern District of New York has sentenced former Celsius CEO Alex Mashinsky to 12 years in prison for fraud. Mashinsky’s legal team sought a light sentence. They highlighted his spotless record before the Celsius incident, along with his military service and willingness to plead guilty. But US prosecutors were less inclined to leniency, suggesting on April 28 that the judge deliver a 20-year sentence for his actions. Betting markets predicted a light sentence ahead of the May 8 hearing. Polymarket showed only 11% odds for a 20-year sentence or higher. Read more -
Cointelegraph.com - 19:15 May 08, 2025
The impact of positive Bitcoin-related legislative and regulatory progress finally trickles down to BTC price as the top cryptocurrency rallies above $101,000. Key takeaways: Bitcoin rallies to $101,707 against a backdrop of strong fundamentals in the regulatory and traditional finance space. Traders are confident that $100,000 will hold as support. Read more -
Cointelegraph.com - 19:15 May 08, 2025
XRP price jumps as traders react to Trump’s trade deal tease, whale accumulation, and a bullish technical breakout. Key takeaways: XRP surged on May 8, boosted by risk-on sentiment following US President Donald Trump’s teased trade deal with the UK. Whale accumulation continues, with the number of addresses holding 10,000+ XRP rising steadily on price dips. Read more -
Cointelegraph.com - 18:59 May 08, 2025
The GENIUS Act failed to clear a procedure called cloture after pushback from Senate Democrats, who raised concerns about US President Donald Trump's crypto ventures. The Guiding and Establishing National Innovation for US Stablecoins of 2025 Act, known as the GENIUS Act, failed to pass cloture in the United States Senate on May 8, dealing a slight blow to cryptocurrency regulation in the country. The bill, sponsored by Senator Bill Hagerty and co-sponsored by Senators Tim Scott, Kirsten Gillibrand, Cynthia Lummis and Angela Alsobrooks, received last-minute pushback from Democrats, who took aim at the bill and raised concerns about US President Donald Trump’s cryptocurrency ventures. To address the concerns of Senate Democrats, the bill had already been amended to include stricter requirements for stablecoin issuers for further provisions for Anti-Money Laundering. Read more -
Cointelegraph.com - 18:32 May 08, 2025
A March social media post announcing the president's plans for a strategic crypto reserve reportedly came from an employee of a lobbying firm tied to Ripple Labs. US President Donald Trump was reportedly manipulated by a lobbyist tied to Ripple Labs into announcing the XRP token would be part of his plans for a national cryptocurrency reserve. According to a May 8 Politico report, an employee of pro-Trump lobbyist Brian Ballard gave the president the text to a social media post she recommended he write announcing a US strategic crypto reserve that would include XRP, Solana (SOL), and Cardano (ADA). After he posted the message to his social media platform on March 2, Trump learned Ripple was one of Ballard’s clients, infuriating the president, who felt like he’d been used, Politico reported, citing two people familiar with the incident. “He is not welcome in anything anymore,” said Trump, referencing Ballard, according to the report. Read more
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