Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

In 2025, Hong Kong has solidified its position as a global cryptocurrency hub with substantial regulatory advances. The government implemented an expanded licensing framework for fiat-backed stablecoin issuers and introduced formal rules for stablecoin issuance, enhancing trust and oversight. There are also plans to allow spot Bitcoin (BTC) and Ethereum (ETH) ETFs on local exchanges, offering regulated access to major crypto assets. The Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA) continue to lead anti-money laundering (AML) and counter-financing of terrorism (CFT) compliance, with updated FATF-aligned requirements and substantial penalties for violations. Tax policies remain crypto-friendly: long-term holders enjoy zero capital gains tax, promoting mainstream adoption, while frequent and professional traders face income tax up to 16.5%. The SFC has licensed ten virtual asset trading platforms, supporting coins such as BTC, ETH, AVAX, and LINK. About 393,500 people—or 5.25% of Hong Kong’s population—actively use crypto, underscoring growing adoption. With regulatory clarity, transparent tax rules, security measures, and a supportive stance towards digital asset innovation, Hong Kong aims to attract institutional and retail investors, promising steady market growth and confidence.

Bitcoin’s recent surge above $111,000 has ignited bullish momentum throughout the cryptocurrency market, increasing trading volumes and investor confidence. As a result, altcoins such as Ethereum, Solana, XRP, NEAR, and Qubetics are experiencing heightened attention. Notably, Near Protocol has already delivered a strong price rally, prompting a strategic shift in trader focus toward Qubetics, featured as a promising cryptocurrency to buy for potential short-term and long-term gains. Qubetics stands out due to its innovative decentralized VPN technology, rising presale activity, and weekly price increases. Institutional engagement has also boosted XRP’s appeal, particularly through new global payment partnerships, while NEAR maintains strong community and developer support after its recent rebound. The market environment continues to favor projects with robust fundamentals and real-world use cases. Analysts now highlight Qubetics as offering a timely entry point for traders seeking to capture this month’s crypto market momentum, whereas Near Protocol remains of interest due to its established performance and growth outlook. Traders are advised to watch these assets closely for further upside as market sentiment remains positive.

Cantor Fitzgerald, a prominent Wall Street investment bank, has introduced a $2 billion bitcoin-backed lending program targeting institutional investors, such as asset managers and hedge funds. This move highlights traditional finance’s growing embrace of crypto-backed credit solutions. The program allows institutions to borrow against bitcoin (BTC) without liquidating assets, thereby providing liquidity while maintaining exposure. Key early clients include FalconX, securing over $100 million in credit, and Maple Finance, a blockchain-based lending platform receiving its initial loan tranche. Cantor Fitzgerald assures fully regulated, collateralized, and non-speculative loan structures, partnering with Anchorage Digital and Copper.co for secure custody. This initiative aligns with the ongoing rebound of the digital asset lending market, which reached $36.5 billion in Q4 2024 following earlier downturns. The launch builds on Cantor Fitzgerald’s prior crypto initiatives, such as bitcoin acquisition funds and stablecoin partnerships, signaling accelerated integration between traditional finance and DeFi. For crypto traders, this development signals enhanced credibility, liquidity, and institutional support for bitcoin-backed lending, potentially impacting market dynamics and increasing mainstream adoption of digital assets.

Solana’s ecosystem is witnessing a surge in institutional investment, highlighted by significant moves from Sol Strategies and DeFi Development Corp (DFDV). Sol Strategies, a Canadian publicly traded firm, filed a preliminary base shelf prospectus allowing potential issuance of up to $1 billion in common shares to provide capital flexibility and support its long-term growth strategy within the Solana ecosystem. Although no immediate issuance is planned, this filing positions the company for rapid future capital deployment. Sol Strategies previously issued $500 million in convertible bonds to acquire and stake SOL and has achieved major compliance milestones with SOC 1, SOC 2, and ISO 27001 certifications, boosting institutional confidence through robust security and auditing standards. Meanwhile, DFDV is enhancing its Solana treasury management by increasing its use of liquid staking via dfdvSOL. The company recently staked 88,164 SOL (worth $11.5 million at the time) and adopted Solana-based liquid staking tokens for greater liquidity and efficiency in DeFi operations. This initiative supports both validator operations and maximizes per-share SOL growth. DFDV’s heightened activity in liquid staking led its stock price to surge over 110% in the past month and increased its SOL holdings to more than 609,000 SOL (about $105.8 million). Collectively, these institutional developments signal growing confidence and deeper participation in the Solana network. Technical analysts point to increased open interest and funding rates, suggesting the potential for a price rally or a short squeeze if SOL breaks key resistance levels. Enhanced compliance, treasury optimization, and innovative financial tools mark Solana as a strong candidate for future crypto rallies, especially as more institutional actors enter the ecosystem.

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has secured a Markets in Crypto-Assets (MiCA) license from Austria’s Financial Market Authority (FMA). This regulatory milestone enables Bybit to offer regulated crypto services across all 29 European Economic Area (EEA) countries under the EU’s unified MiCA framework. Bybit will passport its services throughout Europe, improving platform credibility and compliance. The exchange has also opened its European headquarters in Vienna and intends to hire over 100 professionals to support regional growth and customer service. This development puts Bybit ahead of many competitors as the MiCA regime becomes mandatory for crypto businesses operating in Europe, offering greater stability and confidence for users. Notably, Bybit recently received preliminary approval to operate in the UAE and is collaborating with Vietnam’s finance ministry to pilot a government-backed digital asset trading program, underlining its global expansion strategy. For crypto traders, Bybit’s MiCA approval means easier access, enhanced regulatory protections, and a more stable, reputable trading environment within the European market.

MetaMask, a leading Ethereum wallet, now supports Solana on its desktop extension, enabling users to manage both ETH and SOL assets and interact with Solana-based decentralized applications. Mobile support is expected soon, simplifying multi-blockchain access for traders and boosting Solana’s DeFi and GameFi adoption. Meanwhile, institutional activity grows with Cantor Fitzgerald launching a $2 billion Bitcoin-collateralized loan program for clients like FalconX and Maple Finance, allowing large holders to unlock liquidity without selling BTC. The crypto sector also faces rising security threats: new Linux malware has been identified targeting over 520 exposed Docker endpoints for mining privacy-focused coin Dero (DERO), raising concerns about operational security. In blockchain partnerships, FIFA announced a dedicated blockchain on Avalanche to strengthen its Web3 presence, following previous NFT collaborations. Square piloted real-time Bitcoin payments at a major conference using the Lightning Network, planning for wider adoption by 2026. Regulatory developments include the US Senate’s advancement of stablecoin legislation (GENIUS Act) and the SEC’s review of WisdomTree’s XRP spot ETF, potentially paving the way for new crypto investment products. Notably, a crypto-linked kidnapping case saw significant law enforcement action in New York. Altcoins like PFVS, WCT, and VIRTUAL showed strong market activity, reflecting trader interest in emerging blockchain niches. Overall, these developments indicate deeper institutional adoption, evolving infrastructure, technical threats to privacy coins, and a dynamic regulatory environment—all crucial indicators for crypto traders’ strategies.

James Wynn, a prominent crypto whale and leading trader on the Hyperliquid decentralized exchange (DEX), has been thrust into the spotlight after suffering over $36 million in losses due to highly leveraged trades on Bitcoin. His bold trading activity, including holding over 5,000 BTC long with up to 40x leverage, initially resulted in significant gains but ultimately led to large-scale liquidations during market corrections. Wynn’s subsequent attempts to recover losses with sizable short positions also failed, contributing to a cumulative weekly loss and generating $1.5 million in trading fees for Hyperliquid. In the wake of these high-profile losses, Wynn was publicly accused by blockchain investigator ZachXBT of manipulative trading behavior, such as using multiple accounts and potentially exploiting trading mechanisms for unfair gain. ZachXBT presented evidence of suspicious wallet activity suggesting possible insider advantages or trading against platform users. While Wynn has maintained transparency by publicly sharing trading outcomes, these allegations have ignited deeper concerns among crypto traders about transparency, market fairness, and regulatory oversight on Hyperliquid and similar platforms. Hyperliquid has not yet released an official response. Crypto traders are advised to monitor developments closely, as the ongoing controversy could influence trust in the platform, trading dynamics, and overall sector integrity.

A U.S. court has overturned the criminal conviction of Avraham Eisenberg, who was accused of fraud and market manipulation after exploiting a $110 million vulnerability in the Solana-based Mango Markets decentralized finance (DeFi) platform in 2022. The judge ruled that Eisenberg’s activities, though controversial, did not violate current criminal fraud statutes, highlighting significant ambiguities in applying traditional financial laws to DeFi protocols. This key legal development emphasizes the evolving legal landscape around market manipulation, DeFi exploits, and the use of smart contracts. The ruling could become a precedent, affecting future regulatory oversight and enforcement strategies within the cryptocurrency and DeFi sectors. For crypto traders and protocol operators, the decision raises fresh concerns over regulatory clarity, platform security, and the legal accountability of decentralized exchanges, all of which could influence market trust and trading behavior.

BitLemons ($BLEM), an emerging project in the crypto gambling and Web3 gaming sector, is attracting strong investor interest in 2025. The platform runs a fully operational blockchain casino and employs a deflationary tokenomics structure. It offers 30% of Gross Gaming Revenue to $BLEM holders, split between buyback & burn mechanisms and staking rewards, fostering both price appreciation and passive income opportunities. BitLemons has raised over $2 million with its presale quickly advancing to Stage 3, where tokens are priced at $0.03 and rumored to launch at $0.17–$0.18. The project stands out for its in-house developed games, revenue-sharing model, and market buzz surrounding potential celebrity endorsements. At the same time, Bitcoin (BTC) has surged above $110,000, with analysts watching for a golden cross that could fuel further gains toward $126,000 amid robust institutional demand and favorable macro conditions. Solana (SOL), trading near $180, is approaching a key breakout level at $244 and could rally to $260 supported by strong on-chain activity and a growing ecosystem. For crypto traders, BitLemons provides a promising altcoin opportunity with real utility, while ongoing bullish sentiment around Bitcoin and Solana suggests a potentially strong broader market rally.

Cathie Wood, CEO of ARK Invest, reiterated the long-term importance of cryptocurrency ETFs despite the rapid rise in crypto wallet adoption. Speaking at New York’s Solana Accelerate event, she highlighted that while digital wallets are gaining traction with over 200 million active Bitcoin wallets globally, ETFs remain the top choice for mainstream investors due to their simplicity and accessibility via traditional brokerage accounts. U.S. spot Bitcoin ETFs have attracted over $44 billion in inflows since January 2024, including $2.75 billion in one recent week as Bitcoin hit a record high of $111,970. In contrast, spot Ether ETFs have only seen $2.77 billion in inflows, largely due to SEC restrictions, especially the prohibition on staking within ETFs. Wood noted that Ether still offers a gateway for investors to explore smart contracts and other blockchain assets like Solana. Meanwhile, VanEck and other industry players criticized the SEC’s repeated delays and lack of transparency surrounding ETF approvals, including the postponement of applications for spot XRP and ETFs with in-kind creations and options. Market optimism remains high for future ETF launches, including potential Solana ETFs, particularly after high-profile developments like Donald Trump’s memecoin on Solana. The continuing tension between ETF innovation and regulatory clarity is expected to influence short-term sentiment for cryptocurrencies, with product accessibility and regulatory changes shaping future adoption patterns.

The ongoing crypto bull run is driving renewed attention to leading altcoins as Bitcoin approaches all-time highs and Ethereum holds steady post-upgrade. Major institutional players like BlackRock and Ark Invest have set bullish long-term price targets for Bitcoin, while the strong momentum in Bitcoin is fueling a rally across the altcoin sector. Recent technical analysis highlights breakouts and sustained bullish indicators for Worldcoin (WLD), Jupiter (JUP), XRP, SUI, and Polkadot (DOT). Worldcoin has surged almost 10% in 24 hours, breaking key resistance levels and trading above major moving averages, with technical signals suggesting a possible rise to the $1.85–$2.00 range if momentum holds. Jupiter is up 8%, showing signs of a golden cross, and if it closes above $0.617, it could target $0.73–$0.78. XRP is consolidating at $2.39, maintaining higher lows above its 200-day moving average and could move toward $2.80–$3.00 with a break above $2.55. SUI, a fast-growing layer-1 blockchain, has seen total value locked jump by 67% recently, with meme coin activity driving volume; technicals indicate new all-time highs are possible, targeting $5.24 and potentially $10. DOT has formed a strong price structure, supported by upcoming Polkadot 2.0 upgrades and features like asynchronous backing and elastic scaling, with technicals suggesting a move to $11.50, and further upside if a spot DOT ETF is approved. Ripple (XRP) also benefits from possible ETF approval and ongoing XRP Ledger developments, with analyst targets in the $3.40–$5.00 range this cycle. Increasing trading volume, bullish chart patterns, and anticipated catalysts such as ETF approvals position these altcoins for potential outperformance if the overall market rally persists. Traders should monitor key breakout levels and volume confirmations as crypto trading signals indicate altcoin season could intensify. Key themes include ’altcoin breakout’, ’technical analysis’, and ’crypto trading signals’ for WLD, JUP, XRP, SUI, and DOT.

Dubai’s Virtual Assets Regulatory Authority (VARA) has issued detailed regulations clarifying the tokenization of real-world assets (RWA), now recognized as Asset-Referenced Virtual Assets (ARVA). These new rules permit the issuance and secondary market trading of RWA tokens, marking a significant regulatory shift and offering clear compliance pathways for issuers and service providers. Announced on May 19 and effective by June 19, the updated framework requires issuers to obtain a Category 1 Virtual Asset Issuance license, submit thorough whitepapers and risk disclosures, and maintain minimum capital of AED 1.5 million (about $408,000) or 2% of reserve assets. Continuous regulatory oversight includes monthly independent audits. The clarified regulations resolve previous uncertainty around security token offerings (STOs), streamlining institutional participation in Dubai’s blockchain sector. This move positions Dubai as a leading jurisdiction for regulated RWA tokenization, likely accelerating institutional adoption and deepening market liquidity for ARVA tokens.

THORChain is under heightened scrutiny after reports and blockchain analysis indicated it was used to launder over 188 BTC stolen in the December 2024 Coinbase user data breach. Blockchain investigator ZachXBT accused the decentralized protocol of facilitating the swap of stolen bitcoin for ETH, while subsequent analysis showed the hacker exchanged $42.5 million in bitcoin to ethereum via THORChain, and then swapped thousands of ETH for stablecoins using other DeFi protocols. These actions highlighted THORChain’s role in enabling the movement of illicit funds and reignited controversy over the responsibilities of decentralized finance (DeFi) platforms. The THORChain community and developers defended the protocol, arguing that as a permissionless, neutral platform, it cannot police fund origins. No official confirmation directly links all laundered funds to the Coinbase hack as investigations continue. The incident sparked fresh debate about DeFi’s protocol neutrality, centralized exchange security, and the risks of celebrating large on-chain flows that may originate from illicit sources. Regulatory bodies and security analysts remain watchful, heightening concerns that cross-chain services like THORChain could face stricter oversight. Ongoing legal and regulatory scrutiny, along with the unresolved investigation, continues to shape sentiment and governance discussions within the DeFi industry.

Crypto.com has acquired Cyprus-based Allnew Investments Ltd, securing a Markets in Financial Instruments Directive (MiFID) license from the Cyprus Securities and Exchange Commission. This move allows Crypto.com to offer a broader range of regulated financial products—including derivatives, stocks, and contracts for difference (CFDs)—to users across the entire European Economic Area (EEA), encompassing all 27 EU nations plus Iceland, Liechtenstein, and Norway. The acquisition places Crypto.com alongside major competitors such as Gemini and Kraken, both of which have also obtained similar licenses for European operations. This development builds on Crypto.com’s earlier achievement of obtaining a Markets in Crypto Assets (MiCA) license, which previously enabled it to expand crypto custody and exchange services across the EEA. With both MiFID and MiCA licenses, Crypto.com strengthens its regulatory standing, enhances client trust, and expands its service offerings. Demand for derivatives in Europe is rising, prompting leading exchanges to bolster compliance and diversify their product range. The financial details of the acquisition remain undisclosed. As regulatory requirements tighten across Europe, securing such licenses becomes crucial for market access, credibility, and competitive positioning within the crypto sector.

Financial educator Robert Kiyosaki has renewed his warnings about impending economic instability, urging investors to reduce reliance on traditional banks and shift towards alternative assets such as Bitcoin, gold, and silver. Kiyosaki attributes rising financial risks to excessive money printing and inflated debt levels since the U.S. abandoned the gold standard in 1971. Citing historical crises like the 1998 LTCM bailout and the 2008 financial crash, he stresses that central banks’ repeated strategies of injecting liquidity have failed to resolve core systemic issues. Highlighting the $1.6 trillion U.S. student loan debt as a major threat to credit markets, he echoes concerns raised by Treasury Secretary Janet Yellen and economist James Rickards. Kiyosaki argues that central banks are nearing the limits of their financial rescue tools and that trust in fiat currencies is eroding. He asserts that Bitcoin, with its capped supply of 21 million, and precious metals are better hedges against currency devaluation than endlessly printed fiat money. Kiyosaki advises investors to watch for signs such as increasing debt, rising loan defaults, and continued currency printing as indicators to accumulate hard assets. The growing institutional and mainstream interest in Bitcoin and gold reflects waning faith in traditional financial systems. This stance underscores a shift in sentiment that could further drive demand for Bitcoin and other cryptocurrencies during periods of financial uncertainty.

Ripple (XRP) and Cardano (ADA) have faced sharp price declines amid increased volatility across the crypto market, prompting many traders to shift their focus toward safer investment options. A rising new presale project, positioned as a ’safe haven,’ has seen its value surge by 30%, attracting significant attention from investors. This transition reflects growing market uncertainty and bearish sentiment towards established cryptocurrencies like XRP and ADA, fueled by recent losses and broader negative trends in digital assets. Traders are increasingly diversifying into early-stage coins and presale tokens, seeking both stability and upside potential. As capital flows out of established assets into emerging projects, this movement may exacerbate liquidity pressures and price instability for XRP and ADA while strengthening momentum and visibility for the new presale token. Crypto traders should monitor these shifts, as changing capital allocation patterns can further impact established tokens and highlight new opportunities for growth.

WhiteBIT, Europe’s top cryptocurrency exchange, successfully hosted the first International Crypto Trading Cup (ICTC 2025) on May 9-10 in Vilnius, Lithuania. The event gathered eight elite traders for a live competition, backed by 33 squads and nearly 3,000 global participants. Ukrainian trader Max Hamaha became champion with an impressive comeback, mainly driven by a profitable long position on Ethereum (ETH), achieving a realized PNL (rPNL) of 7,488.84 USDT across 47 trades. Dutch trader Merlijn The Trader and Ukrainian Eugene Loza (EXCAVO) placed second and third, respectively. Each professional participant was given 50,000 USDTB as test assets on WhiteBIT’s futures platform, creating an engaging but risk-free trading environment. Strategies highlighted included high-leverage, aggressive intraday, and mean reversion trading. A significant milestone was reached when Hamaha’s victory was displayed at the El Clásico football match between FC Barcelona and Real Madrid, reflecting the integration of crypto trading, mainstream finance, and entertainment. WhiteBIT used ICTC 2025 to showcase advanced professional trading strategies, foster blockchain adoption, and enhance community engagement. Registration is now open for ICTC 2026. The event’s sessions are available on WhiteBIT’s YouTube channel, offering valuable insights for both professional and aspiring traders, and underlining the platform’s role in promoting innovative crypto trading competitions akin to esports.

Binance Smart Chain (BSC) has cemented its dominance in the decentralized exchange (DEX) and DeFi sector, with its DEX trading volume surging to $44.13 billion in a 24-hour period, according to DeFiLlama. This volume exceeds the combined DEX activity of competitors Solana ($27.69 billion) and Ethereum ($13.92 billion), highlighting BSC’s robust liquidity and growing user adoption. The impressive rise in BSC’s DEX volumes, up 102% week-over-week, showcases significant capital and liquidity shifting toward the network. Analysts suggest this trend underscores BSC’s expanding influence and its potential to attract new investments and foster ongoing platform innovation. The strategic migration of assets and liquidity to BSC may offer fresh trading opportunities as well as potential risks for crypto traders, emphasizing the need to monitor structural changes in major blockchain ecosystems. Primary keywords include DEX trading volume, Binance Smart Chain, and DeFi.

Ethereum (ETH) has experienced significant price volatility, with recent on-chain data highlighting critical investor cost basis levels. In the earlier period, Ethereum traded notably below major investor cost basis points, with most investors holding at a loss except for mega whales (holding 100,000+ ETH), whose realized price was $1,290. This raised concerns about potential selling pressure or accumulation at these lower levels, potentially signaling increased volatility or a short-term bearish outlook. However, the latest data reveals a reversal: ETH has surged by 56% over the past month, gaining nearly $1,000 in a week. ETH now trades well above most holders’ average cost basis, with wallets holding 1,000–10,000 ETH averaging $2,196, 10,000–100,000 ETH at $1,994, and mega whales at $1,222. The next key support is at $2,225. Analysts suggest if ETH dips below this, volatility could spike, but if support holds, upside momentum may continue. Positive funding rates and over $1.2 billion withdrawn from exchanges signal reduced sell pressure and growing investor confidence. Traders should monitor cost basis zones and exchange flows as key indicators for ETH support and sentiment shifts. The shift from losses to strong gains marks a notable change in market outlook for Ethereum.

Traders are witnessing a notable shift in the altcoin market, with XRP and RTX emerging as leading contenders for the upcoming altcoin season. Recent price surges in Dogecoin (DOGE), Shiba Inu (SHIB), and other meme coins initially signaled renewed interest, but analysts now see investor focus moving toward fundamentally strong, payment-oriented cryptocurrencies. XRP is drawing attention due to its robust transaction network and increasing institutional and retail adoption, while RTX is gaining traction through innovative payment solutions in decentralized finance (DeFi) applications and rising network activity. This movement is fueled by heightened trading volumes, futures interest, and open interest in both XRP and RTX, suggesting that traders and whales are rotating capital from speculative meme coins into assets with stronger utility and growth prospects. Market watchers suggest this behavioral shift could mark the onset of a new altcoin rally led by payment-focused tokens. Traders are advised to closely monitor both technical patterns and adoption metrics for XRP and RTX as these coins could offer significant trading opportunities in the evolving market landscape. As always, due diligence is crucial given the volatility and risks inherent in crypto markets. Primary keywords: XRP, RTX, altcoin season, crypto trading. Secondary keywords: Dogecoin, Shiba Inu, meme coins, payment tokens.

Crypto swapper eXch, known for enabling anonymous crypto transactions via its no-KYC policy and pooled liquidity, was officially shut down by German authorities in April after being linked to the laundering of funds from the $1.4 billion Bybit hack, allegedly involving the notorious Lazarus Group. During the shutdown, servers and approximately €34 million in crypto assets were seized. However, blockchain security firms now report that eXch may still be servicing select clients through its back-end APIs, despite its public closure. This suggests the platform’s operations are continuing in stealth mode, leveraging its decentralized architecture and multi-jurisdictional structure to evade regulatory oversight. eXch has processed a total of $1.9 billion in cryptocurrencies since inception, becoming a preferred tool for hackers and illegal drainers such as Monkey Drainer, Pink Drainer, and Inferno Drainer. The case underscores continuing global challenges around regulating KYC-less crypto platforms, as criminal actors may migrate to other decentralized protocols like THORChain for money laundering. While the shutdown is a positive development for industry security, the persistence of such platforms exposes gaps in enforcement and highlights persistent tensions between privacy and compliance. Crypto traders should be alert to possible short-term volatility from regulatory actions, while long-term impacts hinge on regulatory adaptation and the evolution of laundering tactics.

Wyoming is advancing the launch of its state-backed stablecoin, WYST, with a public rollout slated for the summer of 2025. WYST will be the first fully reserved dollar-pegged stablecoin issued by a U.S. state entity, backed by U.S. Treasuries, cash, and repurchase agreements as mandated by the 2023 Wyoming Stable Token Act. The Wyoming Stable Token Commission has partnered with crypto data analytics firm Inca Digital to implement real-time risk monitoring, fraud detection, transaction surveillance, and analytics to address security, transparency, and compliance. The stablecoin is currently being piloted on multiple blockchain testnets. This proactive cooperation is designed to improve regulatory clarity and instill confidence among traders and institutional investors, setting Wyoming’s WYST apart from private stablecoins like USDT and USDC. However, challenges remain around adoption, peg maintenance, and technical integration as WYST aims to become a trusted, regulated alternative in the rapidly evolving digital asset market.

Dubai has strengthened its position as a regional leader in cryptocurrency adoption by signing a memorandum of understanding with Crypto.com, allowing residents and businesses to pay government service fees using cryptocurrencies. Payments will be processed by Crypto.com and converted into UAE dirhams, supporting the city’s goal to make 90% of transactions cashless by 2026. This makes Dubai the first Middle Eastern city to accept crypto payments across a broad spectrum of public services, reflecting growing institutional adoption of digital assets and fintech innovation in the region. In parallel, Bhutan is collaborating with Binance Pay to allow tourists to use over 100 cryptocurrencies for tourism-related expenses, such as flights, hotels, visa fees, and shopping. Bhutan’s move establishes it as the first country to fully integrate crypto payments into its tourism sector, expanding choice for visitors and highlighting increased official interest in crypto commerce. These initiatives signal expanding public and private sector acceptance of crypto payments, with potential to boost transactional volumes and enhance the legitimacy of digital assets both regionally and globally.

A coordinated phishing attack targeted Ledger’s official Discord server when a moderator’s account was compromised, allowing hackers to post a fake security alert containing a malicious link. The scheme sought to harvest users’ 24-word recovery phrases by directing them to a fraudulent website. The incident remained limited to one Discord channel and was swiftly contained by Ledger’s security team, who revoked access, deleted the bot, and bolstered server safeguards. Some users reported delays in response due to temporary mutes when raising alarms. Changpeng Zhao (CZ), Binance founder, publicly shared that he too was targeted and highlighted the persistent social engineering risks faced by crypto holders. He emphasized key security practices: never share private keys or recovery phrases, and independently verify alerts using official sources, as project social media accounts are common attack vectors. The attack, occurring weeks after another Ledger-related scam, underscores ongoing threats targeting hardware wallet users and crypto communities. Traders and investors should remain vigilant, improve wallet security, and be wary of phishing in social platforms to protect digital assets.

Goldman Sachs has substantially increased its position in the iShares Bitcoin Trust ETF (IBIT), securing a $1.4 billion holding and becoming its top institutional investor with 30.8 million shares, marking a 28% growth since early Q1 2025. This activity aligns with IBIT’s extended net inflow streak, absorbing around $5 billion recently, highlighting rising institutional confidence and demand for Bitcoin ETFs. In parallel, Tokyo-listed Beat Holdings has raised its Bitcoin and crypto ETF investment cap fivefold to $34 million, driven by board approval responding to growing institutional interest and favorable macroeconomic trends. Beat Holdings has already deployed roughly $6.8 million into IBIT and tapped $2.8 million from its credit line for further purchases. The firm views Bitcoin and crypto ETFs as effective hedges against inflation and currency debasement and is actively exploring additional pathways in the crypto sector, such as blockchain IP, NFTs, and developing or acquiring crypto exchanges and tokens. These developments closely follow U.S. SEC approval of spot Bitcoin and Ethereum ETFs in 2024, reinforcing a broad trend of increasing institutional adoption. The cumulative effect of expanded investments by global financial powerhouses and positive regulatory signals sets a bullish tone for Bitcoin, ETF vehicles, and the broader cryptocurrency market, potentially supporting further price gains and sustained market momentum. Key primary and semantic keywords: Bitcoin ETF, institutional investment, iShares Bitcoin Trust, Beat Holdings, spot Bitcoin ETF, cryptocurrency market, macroeconomic trends, regulatory approval.

Alex Mashinsky, founder and former CEO of Celsius Network, has been sentenced to 12 years in federal prison for orchestrating one of the largest crypto lending frauds. Mashinsky admitted to committing commodities and securities fraud by misleading investors about Celsius’s financial health, exaggerating platform stability, promising unrealistic returns, and unlawfully manipulating the CEL token price for personal profit. He gained $48 million illegally, leading to severe losses for retail investors as the Celsius platform collapsed, leaving a $1.2 billion deficit. Prosecutors pushed for a 20-year sentence, emphasizing Mashinsky’s lack of remorse and the scale of customer losses. Another executive, Roni Cohen-Pavon, pleaded guilty and cooperated with authorities, assisting government agencies including the SEC, CFTC, and FTC, which secured a $4.7 billion settlement—the return of assets to affected customers remains a key requirement. The conviction highlights the intensifying regulatory crackdown on crypto lending platforms and underscores rising caution for crypto traders regarding centralized providers and native platform tokens. This case marks a pivotal moment for compliance and transparency in the crypto industry.

Cardano founder Charles Hoskinson has publicly addressed both criticism of Cardano’s price performance and his recent disinvitation from a Trump Mar-a-Lago crypto policy dinner. Initially, Hoskinson stressed that Cardano’s value lies in its technological development, scalability, security, and real-world adoption rather than just ADA price action. He highlighted Cardano’s progress from a $72 million startup to a $25 billion global ecosystem, despite ongoing market volatility and questions about its viability. The subsequent event brought further attention after Hoskinson was removed from a high-profile Trump dinner at the last minute, reportedly due to political maneuvering connected to ADA’s inclusion in a leaked ’crypto reserve’ draft alongside tokens like XRP and SOL. Hoskinson clarified that he only supports Bitcoin as a reserve asset. He criticized the ’get rich quick’ mindset in crypto trading and highlighted the importance of bipartisan congressional progress on crypto regulation and stablecoins. Despite being sidelined, Cardano’s policy team remains actively engaged with lawmakers and regulators to promote lasting crypto policy. This episode underscores heightened political interest in cryptocurrencies and ongoing internal power dynamics, which may influence both short-term sentiment and Cardano’s longer-term positioning within the evolving regulatory landscape.

Alex Mashinsky, the former CEO of Celsius Network, has been granted court permission to travel from New York to Memphis to attend his daughter’s wedding between May 26 and 29. His sentencing is set for May 8 in the U.S. District Court for the Southern District of New York, where Judge John Koeltl will decide his fate following charges of commodities fraud and manipulating the price of Celsius Network’s native token (CEL). Mashinsky admitted to the charges and remains free on $40 million bail since July 2023, with travel outside approved areas restricted. The Department of Justice does not object to his travel if he surrenders afterward. Prosecutors are seeking a 20-year prison sentence, while the defense is requesting a lighter term. The outcome of Mashinsky’s sentencing is expected to have significant implications for crypto industry governance, regulatory risks, and particularly the management and price stability of platform tokens like CEL. The case underscores ongoing regulatory scrutiny over major crypto platforms and could serve as a precedent for future crypto-related criminal cases.

Bitwise Asset Management has submitted an S-1 registration with the U.S. Securities and Exchange Commission to launch a spot ETF tracking NEAR, the native token of NEAR Protocol. This move marks Bitwise’s expansion beyond its existing Bitcoin and Ethereum ETFs, reflecting the firm’s continued leadership in digital asset fund offerings. If approved, the NEAR Protocol ETF would provide regulated market access to NEAR’s price performance for both institutional and retail investors, boosting the legitimacy of altcoin investments. NEAR Protocol, recognized for its developer-friendly and scalable layer-one blockchain, stands to benefit from potential institutional capital inflows. Bitwise’s application joins a growing pool of spot crypto ETF filings for altcoins like Solana, Ripple, Cardano, Dogecoin, and Litecoin, indicating mounting competition among major asset managers to diversify crypto ETF products in the U.S. Although NEAR’s price experienced a slight short-term dip following the news, increased regulatory attention and broader approval of altcoin ETFs could provide significant long-term growth prospects for NEAR and similar assets. This trend signals ongoing maturation and acceptance of the digital asset market, with traders anticipating more investment vehicles tracking a wider array of cryptocurrencies as regulatory clarity improves.