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In April, public Bitcoin miners sold 115% of the BTC they produced—the highest sell-off ratio since late 2022—as hashprice remained under pressure despite Bitcoin reaching a new all-time high.
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Bitcoin hit a new all-time high on 2025’s Bitcoin Pizza Day, surpassing $110,000.
Here’s how BTC performed on past Bitcoin Pizza Days:
⚫ 2010 — ~$0.004
⚫ 2011 — $6.83
⚫ 2012 — $5.10
⚫ 2013 — $123.89
⚫ 2014 — ~$524.58
⚫ 2015 — $235.32
⚫ 2016 — $439.32
⚫ 2017 — $2,173.40
⚫ 2018 — $8,041.78
⚫ 2019 — $7,680.07
⚫ 2020 — $9,182.58
⚫ 2021 — $37,536.63
⚫ 2022 — $30,323.72
⚫ 2023 — $26,930.64
⚫ 2024 — $69,122.34
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Bitcoin reached a new all-time high of $109,424, with 99% of all holders now in profit.
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Texas’ Strategic Bitcoin Reserve bill has passed its second reading in the state House, advancing efforts to allow the state to hold Bitcoin in its treasury.
The bill would establish a Texas Bitcoin Depository and authorize the comptroller to manage Bitcoin holdings as a hedge against inflation and financial instability.
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South Korea will lift its institutional crypto investment ban starting in June, allowing nonprofit organizations and crypto exchanges to sell digital assets under new rules.
To prevent money laundering, the Financial Services Commission has mandated stricter KYC measures for institutions, requiring detailed checks on transaction purposes and fund sources.
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The U.S. SEC has filed a lawsuit against New York-based Unicoin and three of its executives, alleging fraud in the sale of token rights and common stock to over 5,000 investors.
The agency says Unicoin falsely claimed its tokens were backed by “billions” in real estate and pre-IPO equity, overstated fundraising totals by nearly 30x, and misrepresented its securities as “SEC registered.”
The SEC is seeking penalties against CEO Alex Konanykhin and others, while general counsel Richard Devlin has agreed to a $37,500 settlement.
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Societe Generale, one of Europe’s largest banks, will launch a USD-pegged stablecoin on Ethereum—marking the first dollar stablecoin issued by a traditional bank.
The token will later expand to other blockchains, including Solana. The bank manages over $166bn in assets.
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Kraken has expanded its derivatives trading across the EU by acquiring a licensed investment firm in Cyprus, allowing it to offer regulated products under MiFID.
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Genesis Global Capital has sued parent company Digital Currency Group (DCG) to recover over $1.2bn in alleged “preference payments” made within a year before its bankruptcy filing.
The lawsuit claims DCG, founder Barry Silbert, and affiliates moved $582m in crypto and over $1.2bn in total during Genesis’s insolvency, and seeks to claw back the transfers under bankruptcy law.
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Bithumb has sharply expanded its presence in South Korea’s crypto market, now handling around 25% of national trading volume—up from under 10% in 2023.
To capitalize on its momentum, Bithumb is targeting an IPO by late 2025, with Samsung Securities leading the offering.
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Moody’s downgrade of the U.S. credit rating to Aa1 has shaken global markets, fueling renewed concerns over fiscal stability and accelerating de-dollarization sentiment:
⚫️30-year Treasury yield hit 5.03%, 10-year rose to 4.55%—the highest since November 2023
⚫️Dollar fell against all G10 currencies, while the euro surged 1% to $1.1288
⚫️U.S. budget deficit is nearing $2tr (6% of GDP), and national debt could reach 107% of GDP by 2029
⚫️Moody’s projects the deficit to widen to 9% of GDP by 2035, driven by interest payments and entitlement spending
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Strategy (former MicroStrategy) is facing a class action lawsuit, accusing the company and its executives of violating securities laws by allegedly downplaying the risks of its Bitcoin strategy.
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Starting January 2026, UK crypto firms must report detailed user and transaction data or face penalties of up to £300 per user for non-compliance.
The rules also apply to foreign firms serving UK clients.
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A class-action lawsuit has been filed against Coinbase in Illinois, accusing the exchange of violating the state’s Biometric Information Privacy Act (BIPA).
The suit alleges Coinbase collected facial biometric data during KYC procedures without proper disclosure or user consent, and shared it with third-party vendors like Jumio, Onfido, and Au10tix.
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Blum co-founder and former Binance CIS executive Vladimir Smerkis has been arrested in Moscow on charges of large-scale fraud.
⚫The arrest reportedly relates to earlier ventures where investors lost at least $15m
⚫Smerkis previously ran The Token Fund and Tokenbox, both of which collapsed after raising $8m and $7m respectively
⚫On May 15, Blum announced his resignation and confirmed he no longer holds any role in the project
⚫The project team stated operations continue as normal and distanced itself from Smerkis’s legal issues
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Bitcoin futures open interest has hit an all-time high of over $74bn, reflecting surging demand from leveraged traders as Bitcoin surpassed $110,000.
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BlackRock’s spot Bitcoin ETFs have amassed enough coins to make the asset-management giant the world’s second-largest holder of BTC.
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Crypto.сom has obtained a MiFID license to offer regulated crypto derivatives across the European Economic Area, following its earlier MiCA approval.
The license allows Crypto.сom to expand its product offerings in Europe through its acquisition of Cyprus-based firm A.N. Allnew Investments.
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The Hong Kong Legislative Council has passed the Stablecoin Bill in its third reading, paving the way for regulated stablecoin issuance.
Institutions are expected to be able to apply for licenses from the Hong Kong Monetary Authority by year-end, with stablecoins required to be backed by legal tender.
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Michael Saylor’s Strategy has reached a new all-time high in total profit, now standing at $21.3bn—reflecting a 53.18% gain on its $40.2bn Bitcoin investment.
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Ethereum’s share of total value locked (TVL) has dropped to 50.88% as of May 8, 2025—its lowest level since 2022.
The decline highlights growing competition from other chains, with Solana (7.88%), Bitcoin (6.16%), and BSC (6.02%) among the top challengers.
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President Javier Milei’s government officially shut down the special investigative unit probing the LIBRA memecoin scandal, stating it had fulfilled its mandate.
Despite the closure, no public report was released, and criminal investigations by the Public Prosecutor’s Office are expected to continue.
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TRON founder Justin Sun is set to meet President Donald Trump on May 22 as the top holder of the TRUMP memecoin.
Only the top 220 TRUMP holders were invited to the private dinner, with Sun holding the largest position in the token.
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Binance has filed a motion to dismiss FTX’s $1.76bn asset recovery lawsuit in Delaware Bankruptcy Court, calling the case “legally untenable” and denying any role in FTX’s collapse.
Binance argued that the downfall was caused by fraud within FTX itself, and emphasized that it is a non-U.S. entity outside the court’s jurisdiction.
The lawsuit centers on crypto assets FTX paid to Binance in 2021 as part of an equity buyback.
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Binance has seen the largest short liquidation of 2025, with $66.3m in BTC/USDT short positions wiped out in a matter of hours—marking the biggest single-day short squeeze on the exchange this year.
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Revolut has announced plans to invest over €1bn ($1.1bn) in France, establish its EU headquarters in Paris, and apply for a French banking license amid strong local demand.
The crypto neobank, already serving 5m users in France, aims to onboard 10m more by 2026 and double that figure by 2030.
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Strategy (former MicroStrategy) has acquired 7,390 BTC for ~$764.9m at an average price of ~$103,498 per BTC, reaching a 16.3% BTC yield year-to-date in 2025.
As of May 19, the company holds 576,230 BTC, bought for a total of ~$40.18bn at an average cost of ~$69,726 per coin.
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Russia’s Ministry of Justice has drafted a bill that classifies digital currency as property subject to seizure and confiscation, aiming to formalize procedures for handling such assets in criminal cases.
The proposal includes measures to preserve digital assets, such as allowing investigators to seize devices with access keys or request courts to freeze transactions, and involves expert oversight to ensure secure handling during legal proceedings.
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Ripple has secured a blockchain payments license from Dubai’s Financial Services Authority (DFSA), allowing it to offer regulated crypto-enabled payment services in the UAE.
With new partnerships announced alongside Zand Bank and Mamo, Ripple will provide real-time blockchain-based cross-border payments, as Zand also plans to launch an AED-backed stablecoin to support the digital economy.
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✔ This week's crypto market highlights:
⚫ U.S. and China reduce tariffs for 90 days
⚫ Strategy acquires 13,390 BTC for $1.34bn
⚫ Arizona Governor vetoes two crypto bills
⚫ Gold drops below $3,160, 10% from high
⚫ Russia includes Bitcoin in financial risk review
⚫ FTX to start second creditor distribution May 30
⚫ U.S. charges Tornado Cash co-founder Roman Storm
⚫ Judge rejects SEC-Ripple motion to reduce penalty
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