Cointelegraph.com
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Cointelegraph.com - 21:24 May 23, 2025
Governor Greg Abbott posted to his official X account on May 22, roughly a day after the legislature passed a bill to create a strategic Bitcoin reserve in Texas. Texas Governor Greg Abbott has signaled support for a bill recently passed by the state House of Representatives that would establish a strategic cryptocurrency reserve. In a May 22 X post, Abbott posted a Techstory article about Texas state lawmakers’ efforts to create a Bitcoin (BTC) reserve. The story pointed out that the decision for the passage of SB 21, the bill in question, now rests on Abbott’s shoulders, roughly three months after it was introduced. Since taking office, Abbott referred to himself as a “crypto law proposal supporter” in 2021 and suggested that he would support policies to establish Texas as a “crypto capital” in 2024. Texas was one of a handful of state-level governments that proposed setting up a strategic crypto reserve after the 2024 federal elections. Read more -
Cointelegraph.com - 20:00 May 23, 2025
Lessons from hyperinflation lead more people to Bitcoin, according to Ledn co-founder Mauricio di Bartolomeo. When Venezuela was experiencing hyperinflation, Ledn co-founder Mauricio di Bartolomeo hedged against the collapsing local currency by shorting it in favor of the more stable US dollar. Today, he’s using a similar strategy — this time borrowing against his Bitcoin (BTC) to hedge against the crumbling US dollar. Di Bartolomeo connected with me during Canada Crypto Week in Toronto, where he talked about the advantages of Bitcoin-backed loans and the rapid growth of collateralized BTC lending. In our interview, he made a compelling case for continuing to stack sats, even as Bitcoin’s price keeps rising. This week’s Crypto Biz dives into our conversation with the Ledn co-founder and covers the latest business news from the blockchain world. Read more -
Cointelegraph.com - 19:57 May 23, 2025
More than 30 members of the US Congress signed onto a letter alleging that Donald Trump could have violated the Constitution by inviting his memecoin investors to a private dinner. Members of the US House of Representatives called for the Justice Department to investigate Donald Trump’s May 22 dinner for his top memecoin investors, citing concerns about “foreign influence over US policy decisions” and “potential corruption and emoluments clause violations.” In a May 22 letter to the Justice Department, 35 House members asked the public integrity section acting chief, Edward Sullivan, to launch an inquiry over the memecoin dinner to determine whether it violated the federal bribery statute or the foreign emoluments clause of the US Constitution. Under the emoluments clause, a US president is barred from accepting any gift from a foreign state without the approval of Congress. Bloomberg reported that a majority of the attendees at the memecoin dinner were likely foreign nationals based on their connections to ... -
Cointelegraph.com - 19:15 May 23, 2025
Bitcoin price consolidation is expected after short-term traders realized $11.6 billion in profit, and Trump’s new tariff announcement spooks the market. Key takeaways: Short-term Bitcoin holders realized $11.6 billion in profit over the past 30 days, suggesting a potential pause or local top in the market. Technical indicators show cooling momentum as retail investor sentiment falls to a 90-day low and liquidity data points to price volatility. Read more -
Cointelegraph.com - 18:07 May 23, 2025
Bitcoin price may have reached a short-term top, but this could open the door to a long-awaited altcoin season. Key points: Bitcoin slipped below $109,588, but technical charts suggest traders are buying each dip. Excessive leverage in Bitcoin futures increases the risk of a quick correction. Read more -
Cointelegraph.com - 18:00 May 23, 2025
Analysts are warning of more fiat currency debasement, which is driving a growing appetite for digital assets, including cryptocurrencies and NFTs. Risk appetite across traditional and cryptocurrency markets saw a sharp rise this week, helping United States cryptocurrency funds recover the capital lost to the correction of February and March, amassing over $7.5 billion worth of weekly inflows. Bitcoin (BTC) surpassed its old all-time high on May 21, two days after President Donald Trump confirmed ongoing ceasefire negotiations between Russia and Ukraine in a May 19 X post. Meanwhile, popular analyst and Global Macro Investor CEO Raoul Pal warned of more fiat currency debasement, urging investors to gain more exposure to cryptocurrencies and non-fungible tokens (NFTs), as these assets “will never be this cheap again.” Read more -
Cointelegraph.com - 17:58 May 23, 2025
Thirty-five years after his PhD, Ben Goertzel has witnessed many of his early ideas flourish in the mainstream. It’s been 30 years since computer scientist Ben Goertzel wrote his first line of AI code, already convinced that artificial intelligence should be decentralized. Today, as the world approaches the dawn of Artificial General Intelligence (AGI), who leads this breakthrough could have profound consequences for the future of humanity. Speaking with Cointelegraph at the Consensus conference in Toronto, Canada, Goertzel said, “We’re likely to be able to launch AGI that can think and generalize beyond its training and programming within the next one to three years.” His project, SingularityNET, is a decentralized ecosystem building a global marketplace for AI services. Along the way, it has secured partnerships with Mind Network and Filecoin Foundation, invested $53 million in a modular supercomputer dedicated to decentralized AGI, and completed a token merger with Ocean Protocol and Fetch.ai to unify effo... -
Cointelegraph.com - 17:08 May 23, 2025
Rising institutional adoption, record inflows to the spot ETFs and Bitcoin’s strong performance are set to redefine BTC’s role in the modern portfolio. Key takeaways: Bitcoin’s performance in the current bull market and a new cohort of buyers reflect a maturing market and widening adoption. A 50% rise in hashrate and a 63% jump in Realized Cap highlight investors’ confidence in Bitcoin. Read more -
Cointelegraph.com - 15:52 May 23, 2025
HeyMint is Alchemy’s second acquisition this month, joining the recently announced Solana ecosystem company Dexter Lab. Web3 developer platform Alchemy has acquired HeyMint, a California-based non-fungible token (NFT) launchpad, in a move designed to enhance the company’s smart wallet infrastructure. The undisclosed funding deal will see HeyMint’s infrastructure embedded within Alchemy as it seeks to simplify user onboarding for Web3 applications, the company disclosed on May 23. HeyMint’s co-founder and chief technology officer, Flor Ronsmans De Vry, joins Alchemy as part of the deal. While not a household name in crypto, HeyMint attracted more than 1 million users over its first two years of operations. It was the launchpad behind $38 million in NFT sales and supported the Web3 efforts of major brands, including The Sandbox, Universal Music Group and Ubisoft. Read more -
Cointelegraph.com - 15:29 May 23, 2025
BTC price action becomes "driven by headlines" as US tariff war woes spark a retreat to near $107,000 — where will Bitcoin find support? Key points: Bitcoin joins risk assets in a knee-jerk reaction to the latest instalment of the US trade war, this time focused on the EU. BTC price action dives up to 4% before recovering with $110,000 now a resistance level. Read more -
Cointelegraph.com - 15:00 May 23, 2025
Blockchain's rigidity limits Web3. Web3's scalability and future lie beyond traditional blockchains. Expect a shift toward flexible, verifiable systems prioritizing efficiency over rigid total ordering Opinion by: Grigore Roșu, founder and chief executive officer of Pi Squared For some, the audacity of questioning the primacy of blockchain in Web3 is borderline heretical. The idea that decentralization and progress could exist without blockchains seems absurd to those who built careers around Bitcoin, Ethereum, and their descendants. Given blockchain's well-documented scaling limits, however, there is an argument to be made that Web3 doesn't actually need blockchains to thrive. Instead, it requires payment systems and verifiable settlement systems that are super fast. Blockchains are just one way to achieve that, not the only way. While blockchain solved the double-spending problem, it introduced its own architectural burden: the rigid fixation on total ordering, dictating that every transaction must wait its... -
Cointelegraph.com - 14:52 May 23, 2025
The controversial Trump memecoin dinner saw a number of crypto entrepreneurs, as well as sports stars and even anonymous influencers. The top 220 holders of US President Donald Trump’s memecoin met yesterday at the president’s golf course in Virginia for an exclusive dinner and purported meet-and-greet. Attendees spent a grand total of $148 million for an “ultra-exclusive VIP reception with the president,” which crypto industry advocates and critics alike saw as a potential opportunity to discuss crypto policy with the president. The crowd contained a number of foreign crypto executives and influencers who otherwise would not have access to the US president, raising questions around corruption and foreign influence. Read more -
Cointelegraph.com - 14:49 May 23, 2025
Ether price eyes a 56% rally to $4,000 as it confirms a classic bullish pattern amid increasing network activity. Key takeaways: Ethereum is forming a bull flag on the daily chart, with a potential breakout to $4,000. If Ethereum’s network activity and total value locked continue to grow, ETH price may see further gains. Read more -
Cointelegraph.com - 14:29 May 23, 2025
The US Department of Justice filed a civil forfeiture complaint to claim over $24 million in cryptocurrency tied to Qakbot malware developer Rustam Rafailevich Gallyamov. The US Department of Justice (DOJ) has filed a civil forfeiture complaint to seize more than $24 million in cryptocurrency from Rustam Rafailevich Gallyamov, a Russian national accused of developing the Qakbot malware. According to a May 22 announcement, the DOJ unsealed charges against the 48-year-old Moscovite with a federal indictment. Gallyamov is allegedly the malware developer behind the Qakbot botnet. “Today’s announcement of the Justice Department’s latest actions to counter the Qakbot malware scheme sends a clear message to the cybercrime community,” said Matthew Galeotti, head of the DOJ’s criminal division. Read more -
Cointelegraph.com - 14:20 May 23, 2025
Curve Finance attackers used DNS hijacking to exploit its front end, redirecting users to a fake site and draining wallets. On May 12, 2025, at 20:55 UTC, hackers hijacked the “.fi” domain name system (DNS) of Curve Finance after managing to access the registrar. They began sending its users to a malicious website, attempting to drain their wallets. This was the second attack on Curve Finance’s infrastructure in a week. Users were directed to a website that was a non-functional decoy, designed only to trick users into providing wallet signatures. The hack hadn’t breached the protocol’s smart contracts and was limited to the DNS layer. Read more -
Cointelegraph.com - 13:52 May 23, 2025
Turns out the Cetus developers have been here before, as their hacker deal once saved Crema on Solana. The bounty offer to recover stolen funds from Sui-based decentralized exchange (DEX) Cetus closely resembles a successful strategy used by a Solana project three years ago. It turns out that Cetus shares the same development team as Crema Finance, a Solana-based DeFi project that suffered a $9-million hack in 2022 but recovered most of the funds by negotiating with its hacker. Now, Cetus is relying on the same strategy. Cetus is asking the hacker to return all but $6 million, or 2,324 Ether (ETH), of the stolen funds in exchange for a promise not to pursue legal action. The protocol lost $223 million to an exploit on May 22. Read more -
Cointelegraph.com - 13:30 May 23, 2025
As the US Senate advances the GENIUS Act and lawmakers reintroduce the Blockchain Regulatory Certainty Act, Washington is finally stepping up to the plate on crypto. In this week’s episode of Byte-Sized Insight, on Decentralize with Cointelegraph, we break down a pivotal moment for US crypto legislation. In a 66–32 procedural vote on May 19, the US Senate advanced the GENIUS Act, a landmark bill aimed at establishing a comprehensive regulatory framework for stablecoins. Meanwhile, across the Capitol, Representative Tom Emmer reintroduced the Blockchain Regulatory Certainty Act, backed by bipartisan support. The GENIUS Act — short for “Guiding and Establishing National Innovation for U.S. Stablecoins Act” — seeks to answer foundational questions around stablecoin issuance and oversight. Read more -
Cointelegraph.com - 13:00 May 23, 2025
Ledn will no longer lend out client assets to generate yield, opting instead to keep Bitcoin under full custody. Digital asset lender Ledn is transitioning to fully collateralized Bitcoin lending and discontinuing support for Ethereum, in moves designed to consolidate its BTC-focused business and further safeguard client assets against credit risks. In adopting a full custody structure for Bitcoin (BTC) loans, Ledn will no longer lend out client assets to generate interest, the company disclosed on May 23. Instead, Bitcoin collateral will remain under full custody by Ledn or one of its designated funding partners. “This means assets aren’t rehypothecated, reused, or loaned out to generate yield,” Ledn co-founder and CEO Adam Reeds told Cointelegraph. Read more -
Cointelegraph.com - 12:46 May 23, 2025
US spot Bitcoin ETFs may surpass their monthly record of $6.49 billion in May if momentum continues. Spot Bitcoin exchange-traded funds (ETFs) in the United States are heading for a record-breaking month, helping push Bitcoin to new all-time highs amid rising institutional demand. The US-listed spot Bitcoin (BTC) ETFs recorded more than $1.5 billion in combined inflows over a two-day period, with $608 million on May 21 and $934 million on May 22, according to data from Sosovalue. A repeat performance of the past two days’ inflows would see monthly inflows surge to $6.68 billion, surpassing the monthly record of $6.49 billion from November 2024. Read more -
Cointelegraph.com - 12:07 May 23, 2025
Singapore-based AI firm Genius Group has resumed Bitcoin buys after a US court lifted a ban, boosting its BTC treasury by 40% with a 24.5 BTC purchase. Singapore-based artificial intelligence firm Genius Group has added more Bitcoin to its corporate treasury after being temporarily banned from doing so. In a May 22 announcement, Genius Group explained that it has resumed accumulating Bitcoin (BTC) following a favorable ruling by the US Court of Appeals. It follows Genius Group being temporarily barred from expanding its Bitcoin treasury after a US court order had banned it from selling shares, raising funds and using investor funds to buy more BTC. Genius Group announced it increased its Bitcoin Treasury 40% with the purchase of 24.5 BTC, worth around $2.7 million. The company now holds 85.5 BTC acquired for a total of $8.5 million, at an average price of $99,700 per coin. Read more
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