Cointelegraph.com
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Cointelegraph.com - 04:39 May 02, 2025
The US Treasury has proposed cutting the Huione Group's access to the US banking system, accusing it of being involved in laundering crypto. The US Treasury Department is seeking to bar the Cambodia-based Huione Group from accessing the American banking system, accusing the company of helping North Korea’s state-sponsored Lazarus Group launder cryptocurrency. The Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed on May 1 to prohibit US financial institutions from opening or maintaining correspondent or payable-through accounts for or on behalf of the Huione Group. Huione Group has established itself as the “marketplace of choice for malicious cyber actors” like the Lazarus Group, who have “stolen billions of dollars from everyday Americans,” US Treasury Secretary Scott Bessent said in a May 1 statement. Read more -
Cointelegraph.com - 04:18 May 02, 2025
The SEC is looking to drop its unregistered securities offering lawsuit against crypto YouTuber Ian Balina in the agency’s latest move to wind back its crypto enforcement. The US Securities and Exchange Commission has filed to drop another of its crypto lawsuits, this time its unregistered securities sales case against crypto influencer and YouTuber Ian Balina. The SEC said in a May 1 joint stipulation with Balina to an Austin federal court that it “believes the dismissal of this case is appropriate,” citing the work of the agency’s Crypto Task Force. The agency didn’t give a reason for wanting to dismiss its case, but said its decision “does not necessarily reflect the Commission’s position on any other case.” Read more -
Cointelegraph.com - 03:01 May 02, 2025
Sky proposed penalties on Maker tokenholders who are slow to upgrade to SKY tokens as the DeFi protocol pushes to finish its changeover. Decentralized finance (DeFi) lending platform Sky has pitched a proposal to finalize its upgrade from Maker by replacing its governance token and enabling staking. The proposal, posted on May 1 to Sky’s decentralized autonomous organization (DAO) forum, would see the Sky (SKY) token take over the Maker (MKR) token as the protocol’s governance token. If the DAO accepts, the change would be slated to take place around May 15 to May 19 and downgrading from SKY to MKR would also be disabled. Read more -
Cointelegraph.com - 02:38 May 02, 2025
Kraken says a North Korean actor applied for a tech job at the crypto exchange but foiled their plan after a tip-off from industry partners. US crypto exchange Kraken has detailed a North Korean hacker’s attempt to infiltrate the organization by applying for a job interview. “What started as a routine hiring process for an engineering role quickly turned into an intelligence-gathering operation,” the company wrote in a May 1 blog post. Kraken said the applicant’s red flags appeared early on in the process when they joined an interview under a name different from what they applied with and “occasionally switched between voices,” apparently being guided through the interview. Read more -
Cointelegraph.com - 00:54 May 02, 2025
Kraken said its acquisition of NinjaTrader is complete, enabling traditional derivatives trading for US customers as the exchange’s revenue rose to $471.7 million in the first quarter. Crypto exchange Kraken has completed its acquisition of the futures trading platform NinjaTrader and reported its first quarter revenues jumped 19% year-on-year to $471.7 million. Kraken said in a May 1 report that its NinjaTrader acquisition would give its US customers access to the traditional derivatives market, aligning with its plans to expand its offerings and be the go-to platform for all types of trading. NinjaTrader is a registered Futures Commission Merchant with the Commodity Futures Trading Commission. Last month, it rolled out trading for over 11,000 stocks and exchange-traded funds to certain US clients. Read more -
Cointelegraph.com - 23:39 May 01, 2025
Investors ignore warnings as porn star’s Mikami memecoin raises millions, Alibaba subsidiary’s Ethereum L2 promises 100,000 TPS. Asia Express. Japanese porn star and pop singer Yua Mikami has launched a new memecoin project on Solana, raising more than $2.9 million (over 19,000 SOL) in its presale at the time of writing, despite mounting concerns over its management. The presale was announced on Mikamis X account, which boasts 8.2 million followers. She did not promote the project on her other major social platforms, TikTok and Instagram, which are followed by 4.5 million and 3.7 million accounts, respectively. Blockchain analyst EmberCN raised several red flags. The presale doesnt have a fixed exchange rate or fundraising cap, meaning investors receive a share of the 20% token allocation based on how much is raised. EmberCN also observed that some participants sent SOL directly from centralized exchanges, despite explicit warnings not to do so. Since the project also lacks a refund mechanism, those users may... -
Cointelegraph.com - 22:53 May 01, 2025
Tether’s current reserves excess is at its lowest point since Q2 2024 when the company held $5.3 billion in reserves. Tether, the company behind the world’s largest stablecoin by market capitalization, has released its financials for the first quarter of 2025, disclosing nearly $120 billion in exposure to US Treasurys and over $1 billion in operating profit. According to Tether’s Q1 2025 financial report, the company’s assets include $98.5 billion in direct US Treasury bills, along with over $23 billion in additional exposure through repurchase agreements and other cash-equivalent assets. According to the announcement, Tether holds $5.6 billion in excess of reserves for its USDt (USDT) stablecoin, down from $7.1 billion in excess from the last quarter of 2024. The stablecoin has a market capitalization of $149 billion as of May 1. Read more -
Cointelegraph.com - 22:50 May 01, 2025
Stocks rally alongside Bitcoin, calling into question the whole “decoupling” narrative. Are equities and BTC headed back to new highs? Key takeaways: Despite weak US manufacturing data, Federal Reserve liquidity plans and strong corporate earnings keep equities and crypto afloat. The total crypto market capitalization rose 8.5% since March. Read more -
Cointelegraph.com - 22:20 May 01, 2025
Animoca Brands spans three crypto-focused businesses, including a consulting arm and an investment division. Animoca Brands is looking at trends in real-world tokenized assets, AI projects, and the gaming sector to invest in and develop, according to Omar Elissar, the company's managing director for the Middle East and the head of Global Strategic Partnerships. In an interview with Cointelegraph's Sam Bourgi at Token2049, Elissar said that stablecoins, real-world asset tokenization, the intersection between AI and crypto, alternative use cases such as decentralized science, and Web3 gaming were all niches the company is exploring. Gaming is “part of our DNA,” the executive said before reflecting on the current state of the Web3 gaming industry: Read more -
Cointelegraph.com - 22:19 May 01, 2025
No matter who wins Saturday's election in Australia, crypto legislation developed with the industry is set to finally happen this year. Despite reports in February suggesting that 2 million pro-crypto voters could decide the outcome of this week’s Australian Federal Election, crypto has barely rated a mention during the campaign. “I think it’s a missed opportunity,” Independent Reserve founder Adrian Przelozny told Cointelegraph. “Neither side has made crypto a headline issue because they’re wary of polarizing voters or sounding too niche.” But the good news is that after more than a decade of inaction, both the ruling Australian Labor Party (ALP) and the opposition Liberal Party are promising to enact crypto regulations developed in consultation with the industry. In April, Shadow Treasurer Angus Taylor promised to release draft crypto regulations within the first 100 days after taking office, while the Treasury itself has draft bills on “regulating digital asset platforms” and “payments system modernization... -
Cointelegraph.com - 22:11 May 01, 2025
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation. Today in crypto, the US Treasury moved to cut the Huione Group off from the financial system over its crypto crime ties, Coinbase is set to halt trading for the MOVE token, and Morgan Stanley plans to launch crypto trading on its E*Trade platform by 2026. The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on May 1 proposed blocking the Cambodia-based Huione Group from the US banking system, accusing it of helping North Korea’s state-backed Lazarus Group to launder crypto. Huione Group comprises a network of businesses, which includes payment service platform Huione Pay PLC, the crypto exchange Huione Crypto, and Haowang Guarantee, an online marketplace offering illicit goods and services. Read more -
Cointelegraph.com - 21:49 May 01, 2025
Avraham Eisenberg was sentenced on a charge related to child sexual abuse material before his criminal case related to the 2022 Mango Markets exploit. Avraham Eisenberg was sentenced to more than four years in prison on child sexual abuse material charges, unrelated to his role in the 2022 exploit that drained the decentralized exchange Mango Markets of roughly $100 million. According to reporting from Inner City Press, a judge sentenced Eisenberg to 52 months in prison at a May 1 hearing in the US District Court for the Southern District of New York. The case was filed in April 2024 after Eisenberg’s 2023 indictment on fraud for the Mango Markets exploit. Eisenberg was initially scheduled to be sentenced in July 2024 following his guilty plea on the child porn charge. In May 2024, the judge suggested the sentencing for both cases would occur simultaneously in a consolidated proceeding. However, as of May 1, the fraud sentencing remains pending. Read more -
Cointelegraph.com - 21:30 May 01, 2025
Strategy missed Wall Street estimates on its top and bottom line for the first quarter of 2025, but reported it made a yield of 13.7% on its vast Bitcoin holdings. Update (May 1, 11:35 pm UTC): This article has been updated to add Strategy’s revenue, net loss and analyst estimates. Michael Saylor's Bitcoin-buying firm Strategy, formerly MicroStrategy, has reported earning a year-to-date yield of 13.7% on its Bitcoin holdings as it missed Wall Street's first-quarter estimates. The company said in its May 1 earnings statement that its year-to-date Bitcoin (BTC) yield equates to a gain of more than 61,000 BTC, worth approximately $5.8 billion. Bitcoin yield and gain are unofficial accounting metrics Strategy uses to benchmark the success of its BTC buys. Read more -
Cointelegraph.com - 21:12 May 01, 2025
Rep. Lance Gooden requested that the General Services Administration explore installing cryptocurrency ATMs, citing Donald Trump's crypto "vision." A Texas member of the US House of Representatives has proposed that government officials consider installing cryptocurrency ATMs in federal buildings across the country. In a May 1 letter to Stephen Ehikian, the acting administrator of the General Services Administration (GSA) — the entity responsible for managing the US government’s properties — Rep. Lance Gooden claimed that introducing crypto ATMs to federal buildings would serve as an “educational resource” and reflect advances in financial technology. He requested that the GSA begin exploring the necessary guidelines and regulations needed to install such ATMs in government-controlled properties across the US, citing alignment with President Donald Trump’s goals. Read more -
Cointelegraph.com - 20:36 May 01, 2025
Bitcoin has emerged as the only 'true hedge' against geopolitical risk, Animoca Brands' co-founder said at Cointelegraph's LONGITUDE event in Dubai. Retail investors are running out of time to accumulate Bitcoin as institutional adoption accelerates, according to Sergej Kunz, co-founder of exchange aggregator 1inch. Bitcoin (BTC) is evolving into an alternative reserve currency, propelling institutional demand and potentially pricing out retail investors, Kunz said during Cointelegraph's LONGITUDE event in Dubai. "Every retail user should be thinking about getting at least one Bitcoin — very soon they won’t be able to afford it,” Kunz said. Read more -
Cointelegraph.com - 19:54 May 01, 2025
Veteran trader Peter Brandt says Bitcoin price could rally to $150,000 by summer if it can “regain the broken parabolic slope.” Key takeaways: Bitcoin could reach $150,000 by August or September of this year if BTC breaks above the parabolic slope pattern. Bitcoin (BTC) price jumped to new quarterly highs at $96,700 on May 1, a day after the US GDP contracted -0.3% for the first time since Q2 2022. Amid heightened economic concerns, the probability of a Federal Reserve interest rate cut rose to 62.8% for the June 18 Federal Reserve meeting. Read more -
Cointelegraph.com - 19:46 May 01, 2025
Cointelegraph’s LONGITUDE Dubai edition brought together executives from Polygon and Near Protocol to explore the intersection of AI and blockchain. Cryptocurrency can accelerate artificial intelligence adoption by helping AI startups onboard users, according to Polygon's co-founder Sandeep Nailwal. “You can use crypto incentives and disincentives to onboard users to onboard the ecosystem players,” Nailwal said during a panel discussion at the LONGITUDE by Cointelegraph event. He added that projects with effective onchain incentive structures might even “build a better AI because you have this incentive engine that brings in developers,” Nailwal said on May 1. Read more -
Cointelegraph.com - 19:03 May 01, 2025
Paolo Ardoino said that the recently implemented European framework on digital assets was "very dangerous when it comes to stablecoins." Paolo Ardoino, CEO of stablecoin issuer Tether, addressed criticism over the company's decision not to seek registration under the European Union’s Markets in Crypto-Assets (MiCA) framework, arguing that the regulations were risky for stablecoins. Speaking to Cointelegraph at the Token2049 conference in Dubai, Ardoino reiterated that Tether had no plans to apply for its US dollar-pegged stablecoin USDt — the largest by market capitalization — to be compliant under MiCA in European countries, potentially forcing exchanges to delist the stablecoin. He added that though crypto firms had to follow regulations, there was a “fear of compliance” among companies in the EU. “[...] MiCA license is very dangerous when it comes to stablecoins, and I believe that is even more dangerous for the small, medium banking system in Europe,” said the Tether CEO, adding that banks in the region c... -
Cointelegraph.com - 16:53 May 01, 2025
Coinbase is halting trading of Movement Labs’ MOVE token on May 15, citing noncompliance with its listing standards. Crypto exchange Coinbase has announced it will suspend trading of the Movement Network token (MOVE), the native cryptocurrency of the Movement layer-2 blockchain protocol, developed by Movement Labs, effective May 15. The decision was shared in a May 1 X post, with Coinbase citing the token’s failure to meet its listing standards. The price of the MOVE token also declined by approximately 14.5% in the last 24 hours. Coinbase specified the details of the suspension in an announcement: The suspension of the token follows a recently announced third-party review orchestrated by the Movement Network Foundation into an agreement allegedly signed by Movement Labs and a market-making firm, which is said to be behind the downfall of the MOVE token price in December 2024. Read more -
Cointelegraph.com - 16:17 May 01, 2025
The introduction of Ethereum R1 deviates from traditional layer-2 developments that have come to characterize Ethereum's scaling networks. A group of developers within the Ethereum ecosystem, operating independently of the Ethereum Foundation, have announced Ethereum R1 — a layer-2 (L2) scaling solution for the Ethereum network that does not include a native token. According to the announcement, the project relies entirely on donations, does not have venture funding, and does not have any pre-mined token allocations or a governance token. The project's team wrote in a May 1 X post: “Most L2s today are acting more like new L1s than an Ethereum scaling solution — private allocations, opaque governance, and centralized control,” the developers continued. Read more
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