Cointelegraph.com
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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 -
Cointelegraph.com - 15:17 May 01, 2025
“The world looks to New York, and the world looks to [its] Department of Financial Services,” veteran crypto regulator Ken Coghill told a Cornell audience. Love it or leave it, New York State has been a force in crypto regulation. Ten years ago, the state created the United States’ first comprehensive regulatory framework for firms dealing in cryptocurrencies, including key consumer protection, anti-money laundering compliance and cybersecurity guidelines. In September 2015, the New York Department of Financial Services (NYDFS) issued its first BitLicense to Circle Internet Financial, enabling the company to conduct digital currency business activity in the state. Ripple Markets received the second BitLicense in 2016. Circle and Ripple went on to become giant players in the global cryptocurrency and stablecoin industry. Read more -
Cointelegraph.com - 15:04 May 01, 2025
Bitcoin attempts to punish shorters with relentless higher highs on low timeframes, trading places with gold, which follows commodities downhill. Bitcoin (BTC) gained 3% on May 1 as a new month saw shorts struggle to keep price pinned. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $96,955 on Bitstamp, its highest since Feb. 22. Increasingly close to six figures, Bitcoin rose with US stocks at the Wall Street open as Microsoft gained 10% to become the world’s highest-valued public company. Read more -
Cointelegraph.com - 15:00 May 01, 2025
Enterprise-grade custody solutions can safeguard digital assets with multi-layered security and transparency. Opinion by: Vikash Singh, Principal Investor at Stillmark The Bybit hack resulted in the largest loss of funds to cyber hackers by a cryptocurrency exchange in history. It served as a wake-up call for those complacent about the state of security threats in the digital assets space. Everyone must learn the lesson from this heist — enterprise-grade custody solutions require tech to be accompanied by transparency. Unlike many previous incidents, this loss of funds was not due to a faulty smart contract, lost/mismanaged keys or deliberate mismanagement or rehypothecation of user funds, but rather a sophisticated social engineering attack that exploited vulnerabilities in operational security. Read more -
Cointelegraph.com - 14:34 May 01, 2025
Bitcoin’s “base case” for the end of 2025 is $200,000 without further government adoption, Bitwise’s head of research told Cointelegraph. Bitcoin’s expanding institutional adoption may provide the “structural” inflows necessary to surpass gold’s market capitalization and push its price beyond $1 million by 2029, according to Bitwise’s head of European research, André Dragosch. “Our in-house prediction is $1 million by 2029. So that Bitcoin will match gold's market cap and total addressable market by 2029,” he told Cointelegraph during the Chain Reaction daily X spaces show on April 30. The Bitcoin cycle may also be prolonged when US wirehouses start gaining exposure to Bitcoin and ETFs. Read more -
Cointelegraph.com - 14:30 May 01, 2025
Crypto once sought to replace banks. Now, in the fight over stablecoins, it’s forced to play by the same rules and get the same licenses. Crypto firms are no longer just challenging the traditional financial system they are increasingly becoming part of it. Companies like Circle and BitGo are reportedly pursuing banking charters and preparing for a wave of incoming stablecoin legislation that could further blur the lines between crypto firms and traditional banks. In the US, two major bills the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act and the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act aim to introduce new rules on stablecoin issuers, covering everything from reserve requirements to licensing and compliance obligations. Read more -
Cointelegraph.com - 14:16 May 01, 2025
Bitcoin is becoming a yield-generating asset class for institutions using DeFi strategies like staking, lending and Sharia-compliant tools. The demand for yield-generating strategies around Bitcoin (BTC) is surging, especially from firms seeking liquidity without liquidating their BTC, according to Ryan Chow, co-founder and CEO of Solv Protocol. During a fireside chat at the Token2049 conference in Dubai on May 1, Chow said institutional interest in Bitcoin yield products has grown exponentially over the past few years. Initially, generating Bitcoin yield was nearly impossible. However, recent innovations like staking via proof-of-stake (PoS) protocols and delta-neutral trading strategies have made this possible. Read more -
Cointelegraph.com - 14:30 Apr 30, 2025
BitcoinOS and Starknet are on the verge of adding smart contract functionality to Bitcoin — with, or without, the controversial OP_CAT fork. BitcoinOS and Starknet arent waiting around for the controversial OP_CAT hard fork to add new functionality to Bitcoin, with both projects devising innovative ways to scale Bitcoin using zero-knowledge (ZK) proofs right now. The projects have both demonstrated it’s possible to verify ZK-proofs on Bitcoins existing mainnet even if Bitcoins ultra-simple scripting language makes it difficult and expensive. This could create genuine Bitcoin L2s that inherit much of its security, and unlock the intriguing possibility of creating programmable tokens on Bitcoin itself. Best known as an Ethereum L2, Starknet wants to use the tech to scale Bitcoin to thousands of transactions per second, up from just 7 TPS today. “The ecosystem in Starknet is very, very enthusiastic about also expanding to Bitcoin,” co-founder Eli Ben-Sasson tells Magazine. BitcoinOS, meanwhile, claims it will s... -
Cointelegraph.com - 14:30 Apr 29, 2025
Global TV hit Peaky Blinders will launch a crypto spin-off in 2026. The makers say it “could be THE game to take Web3 Gaming mainstream.” If youve played the FIFA soccer/football video game anytime in the past few decades, youll have that classic E…A…Sports tagline burned into your brain. But for the first time ever, a new FIFA game is dropping without itand it’s on the blockchain. Built on Polkadot, the new mobile game FIFA Rivals will launch its pre-release in May, before its global launch in June, just in time for the FIFA Club World Cup. It comes from Web3 gaming studio Mythical Games theyre the developers behind the National Football Leagues official blockchain game, NFL Rivals. Much like NFL Rivals, soccer/football fans can build their own teams, play real matches, and trade NFTs of their favorite players. Read more -
Cointelegraph.com - 23:18 Apr 26, 2025
Crypto analysts are casting doubt over Bitcoin’s return to $100,000, Sam Bankman-Fried moves prison: Hodler’s Digest Michael Saylor, the CEO of top corporate Bitcoin holder Strategy (formerly MicroStrategy), expressed support for new US Securities and Exchange Commission (SEC) Chair Paul Atkins. In an April 23 X post, Saylor wrote that SEC Chairman Paul Atkins will be good for Bitcoin. The statement follows Atkins swearing-in as the 34th chairman of the SEC on April 21. Blue Macellari, head of digital assets at investment firm T. Rowe Price, also commented on Atkins in a recent Bloomberg interview. She seemed hopeful and recognized a change in how the SEC has acted under the new administration, particularly with crypto-related information, including close to six or seven roundtables with industry professionals. Read more
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