Cointelegraph.com
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Cointelegraph.com - 08:05 May 20, 2025
$330 million in crypto was stolen from an elderly US citizen using social engineering. The tactic has emerged as a severe threat to regular crypto users. A major crypto theft has sent shockwaves through the industry, with $330 million worth of Bitcoin (BTC) stolen. Experts say this was a social engineering attack and not a technical hack. Investigations led by blockchain analyst ZachXBT suggest the victim was an elderly US citizen who was manipulated into granting access to their crypto wallet. On April 28, 2025, ZachXBT detected a suspicious transfer of 3,520 BTC, worth $330.7 million. Read more -
Cointelegraph.com - 08:02 May 20, 2025
Genesis is seeking over $3.3 billion from DCG, Barry Silbert and affiliates in two lawsuits alleging fraud, insider enrichment and concealed transfers. Update May 20, 11:20 am UTC: This article has been updated with comments from DCG. Genesis has launched a pair of lawsuits against its parent company, Digital Currency Group (DCG), and its CEO, Barry Silbert, accusing them of fraud, reckless mismanagement and siphoning more than a billion dollars in value from the now-bankrupt crypto lender. On May 19, the Delaware Court of Chancery unsealed a complaint detailing how DCG allegedly used Genesis as a corporate ATM, draining funds through self-serving loans and concealed transfers while presenting a false image of financial health. Read more -
Cointelegraph.com - 01:55 May 20, 2025
JPMorgan CEO Jamie Dimon said he will allow his bank's customers to buy Bitcoin, but the bank will not custody it. Jamie Dimon, the CEO of JPMorgan, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency. “We are going to allow you to buy it,” Dimon said at JPMorgan’s annual investor day on May 19. “We’re not going to custody it. We’re going to put it in statements for clients.” CNBC reported that Dimon also remarked on his long-held skepticism about crypto assets, pointing to their use in money laundering, sex trafficking and terrorism. Read more -
Cointelegraph.com - 01:38 May 20, 2025
The US Senate voted 66-32 in a procedural vote to move forward the stablecoin-regulating GENIUS Act, which will head to a debate on the Senate floor. The US Senate has voted to advance a key stablecoin-regulating bill after Democrat Senators blocked an attempt to move the bill forward earlier in May over concerns about President Donald Trump’s sprawling crypto empire. A key procedural vote on the Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, passed in a 66-32 vote on May 20. Several Democrats changed their votes to pass the motion to invoke cloture, which will now set the bill up for debate on the Senate floor. Read more -
Cointelegraph.com - 00:42 May 20, 2025
Solana Labs spin-out Anza proposed a new Solana consensus protocol to replace TowerBFT and the proof-of-history system, aiming to bring Web2-level speed to the network. Anza, a Solana blockchain infrastructure firm spun out of Solana Labs, has proposed a new proof-of-stake consensus called Alpenglow that it claims would be “the biggest change to Solana’s core protocol” and compete with current internet infrastructure. “We believe that the release of Alpenglow will be a turning point for Solana. Alpenglow is not only a new consensus protocol, but the biggest change to Solana’s core protocol since, well, ever,” Anza’s Quentin Kniep, Kobi Sliwinski and Roger Wattenhofer said on May 19. Alpenglow consists of Votor, which processes voting transactions and block finalization logic, and Rotor, a data dissemination protocol that would replace Solana’s proof-of-history timestamping system and aim to reduce the time it takes for all nodes to agree on the network state. Read more -
Cointelegraph.com - 22:57 May 19, 2025
Fidelity’s Jurrien Timmer says Bitcoin’s rally back to six-figure territory strengthens its store-of-value status, making it comparable to investing in gold. Key takeaways: Bitcoin’s Sharpe ratio converges with gold’s, indicating similar risk-adjusted returns, supporting its store-of-value role. Gold outperformed Bitcoin in Q1 2025 with a 30.33% price gain versus Bitcoin’s 3.84%, driven by economic uncertainty. Read more -
Cointelegraph.com - 21:45 May 19, 2025
Onchain data shows Bitcoin accumulators picking up the pace as BTC price makes a run at new highs. Key takeaways: Bitcoin onchain and technical data suggest new all-time highs are imminent. Glassnode data shows most Bitcoin wallet cohorts accumulating BTC. Read more -
Cointelegraph.com - 21:32 May 19, 2025
US officials are reportedly investigating a data breach that caused many social engineering attacks against Coinbase users and prompted a slew of lawsuits. The US Department of Justice is reportedly conducting a probe over Coinbase’s contracted customer service agents in India, who accepted bribes in exchange for allowing criminals access to user data. According to a May 19 Bloomberg report, DOJ investigators are looking into the data breach, which Coinbase disclosed to the public on May 15. The exchange reported that a group of customer support contractors — subsequently fired — “abused their access to [...] systems to steal the account data for a small subset of customers.” “We have notified and are working with the DOJ and other US and international law enforcement agencies and welcome law enforcement’s pursuit of criminal charges against these bad actors,” said Coinbase’s chief legal officer, Paul Grewal, according to Bloomberg. Read more -
Cointelegraph.com - 21:32 May 19, 2025
A potential attendee of the May 22 event told Cointelegraph his purchase of TRUMP's memecoin was "not political." On May 22, US President Donald Trump is expected to host up to 220 people who had purchased the most significant quantities of his memecoin at a private event in Washington, DC. Though the exact number of attendees was unknown as of May 19, reports and blockchain data have revealed some of the tokenholders who qualified to apply for the May 22 dinner and “VIP tour” and reception, presumed to be in the White House. Bloomberg reported on May 7 that more than half of the 220 wallets were likely controlled by foreign nationals. Among the memecoin dinner applicants, who likely still face background checks ahead of getting a confirmed appearance before the president, included Synthetix founder Kain Warwick, a consultant named Vincent Deriu, and crypto user Morten Christensen, who reportedly only paid $1,200 for the opportunity. Read more -
Cointelegraph.com - 21:31 May 19, 2025
Circle is reportedly seeking a sale price of at least $5 billion, which would be around the amount it’s targeting for its IPO. Circle, the issuer of stablecoin USDC (USDC), is still planning an initial public offering (IPO), but the company is also in informal talks with Ripple and Coinbase about a sale, according to a report from Fortune. Circle is seeking at least $5 billion, which is its target for the IPO, according to the four banking and private equity sources Fortune cited. Ripple tried to purchase Circle on April 30, but the $4 billion to $5 billion bid was rejected as being too low. If Ripple or Coinbase were to buy Circle, the details of a purchase would differ. Ripple would pay using cash and XRP (XRP), a cryptocurrency that Ripple created. Coinbase, on the other hand, would use cash and stock. Read more -
Cointelegraph.com - 20:44 May 19, 2025
Bitcoin is less than 5% away from making new all-time highs, and BTC futures markets look ready to support the rally. Key takeaways: Bitcoin buying in the spot and futures markets helped BTC price keep its upward momentum despite $170 million in margin liquidations. Weak stablecoin demand in China and the limited use of futures leverage suggest Bitcoin’s current rally is sustainable. Read more -
Cointelegraph.com - 19:58 May 19, 2025
The biopharmaceutical company bought $1 million of Bitcoin and other cryptocurrencies, taking its total crypto holdings to $4.5 million. Quantum Biopharma has purchased an additional $1 million worth of Bitcoin and other cryptocurrencies, the Canadian biotechnology company said. The buys take Quantum’s total cryptocurrency holdings to approximately $4.5 million, according to a May 19 press release. The biotech company plans to stake a portion of its crypto to generate revenue. Quantum expects that holding a treasury of Bitcoin (BTC) and other crypto assets will “provide a return on investment for shareholders and […] provide some hedge against the Canadian dollar,” it said. Read more -
Cointelegraph.com - 19:06 May 19, 2025
The new SEC chair said the regulator "should not be in the business" of stifling innovation at companies like those involved in digital assets. In one of his first speeches since becoming chair of the US Securities and Exchange Commission (SEC) in April, Paul Atkins addressed some of the regulatory concerns around the cryptocurrency industry. In prepared remarks for a May 19 speech, Atkins said it was a “new day” for the crypto industry under the current leadership of the SEC. He suggested that the financial regulator would be more open to “adapt to and accommodate new developments” while still abiding by its statutes. “The crypto markets have been languishing in SEC limbo for years,” said Atkins, adding: Read more -
Cointelegraph.com - 18:30 May 19, 2025
It's the first US-regulated investment fund holding the Cronos chain's native token, CRO. Crypto.com and asset manager Canary Capital are launching a US investment fund designed to provide exposure to the Cronos blockchain’s native token, CRO, the cryptocurrency exchange said in a statement. The Canary CRO Trust will hold the Cronos (CRO) token in a regulated fund wrapper, Crypto.com said, adding that the trust is not an exchange-traded fund (ETF) and is only available to accredited investors. Creating regulated funds such as CRO Trust is part of Crypto.com’s plan for “further mainstreaming crypto,” Eric Anziani, president and chief operating officer of Crypto.com, said in a statement. Read more -
Cointelegraph.com - 18:02 May 19, 2025
Bitcoin’s quick recovery from its Asia-trading session trade-off shows bulls are viewing every dip as a buying opportunity as BTC approaches new all-time highs. Key points: Bitcoin’s rejection at $107,000 shows sellers are active at higher levels, but the recovery from the intraday low shows solid buying. Strategy and Metaplanet continue to accumulate Bitcoin, adding steady buy-side pressure to BTC price. Read more -
Cointelegraph.com - 18:00 May 19, 2025
Bitcoin holders can now employ a similar strategy by shorting the US dollar and holding on to the harder asset, BTC, said Mauricio di Bartolomeo. Before discovering Bitcoin (BTC), Ledn co-founder Mauricio di Bartolomeo found success shorting the Venezuelan Bolivar as it rapidly lost value against the stronger US dollar. Now, with the US dollar depreciating against Bitcoin, borrowing against Bitcoin instead of selling it has become a more viable strategy. “Prior to Bitcoin, my most successful investment was shorting the Bolivar with dollars,” di Bartolomeo told Cointelegraph in an exclusive interview at the Consensus conference in Toronto, Canada. “I was borrowing Bolivars and buying dollars with them, holding the hard dollars and having a borrow [position] on the weaker currency,” he said. Read more -
Cointelegraph.com - 17:55 May 19, 2025
The two principal partners, Zand Bank and Mamo, will use Ripple Payments, a platform that combines stablecoins, crypto, and fiat currency to enable payments. Ripple, the creator of cryptocurrency XRP (XRP), launched cross-border blockchain payments in the United Arab Emirates (UAE), a development that could spur the adoption of cryptocurrency in a country receptive to digital assets. Zand Bank, the UAE’s first all-digital bank, and Mamo, a fintech company that offers a digital payment platform for businesses, will be the principal users of the blockchain payments system, according to a May 19 Ripple announcement. Zand Bank and Mamo will use “Ripple Payments” to facilitate cross-border blockchain payments. Read more -
Cointelegraph.com - 17:17 May 19, 2025
Bitcoin’s sharp sell-off from $107,000 was the result of profit taking, not contagion from Moody’s recent downgrade of US debt. Key takeaways: Bitcoin recovered from its sharp sell-off from $107,000, suggesting it functions as a hedge against uncertainty for investors reacting to Moody’s recent downgrade of US debt. Moody’s downgraded the US credit rating to Aa1, citing a $36 trillion debt and rising deficits, causing market turbulence and a spike in US Treasury yields. Read more -
Cointelegraph.com - 16:05 May 19, 2025
Bitcoin is causing an increasing rift among market participants when it comes to whether the bull market will continue and all-time highs will come next. Key points: BTC price action retargets $105,000 after the Wall Street open, rising 2.5% from the day’s lows. Volatility continues, leading market participants to varying conclusions over what will happen to BTC/USD next. Read more -
Cointelegraph.com - 15:37 May 19, 2025
Bitcoin may drop toward $100,000 this week after running into resistance above the $106,000 level, among other catalysts. Key takeaways: Bitcoin price fell 1.4% to $102,460 amid US economic concerns, with daily trading volume up 94%, indicating the return of sellers. Moody’s US credit downgrade to Aa1 and a class-action lawsuit against Strategy add to BTC’s headwinds. Read more
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