Bitcoin's resilience is once again under the microscope.
The post Coinpedia Digest: This Week’s Crypto News Highlights | 24 May, 2025 appeared first on Coinpedia Fintech News Folks, I’m back with your weekly crypto round-up and trust me, you’re going to want to pay attention to this one. This week has been a wild ride for investors and enthusiasts. Big headlines. Big consequences. We’ve seen it all – from political power plays to million-dollar scandals. All of these are powerful signals hinting at where the industry is really heading. So, if you blinked, you’ve missed a lot. We’ll dive into what happened these past few days and why it matters for you. Let’s go! #1 Trump’s $TRUMP Crypto Dinner Drama Justin Sun, the crypto billionaire who once dodged the US spotlight fearing arrest, stepped back into the limelight – this time as a VIP at Donald Trump’s exclusive gala dinner. Sun, proudly holding the biggest stash of Trump’s $TRUMP memecoin, showed up amid protests shouting “shame.” Trump himself took the stage, blaming the previous administration for making life miserable for crypto insiders, calling it a “disgrace.” Sun flashed over $1.3 million in $TRUMP holdings and a flashy “Trump Golden Tourbillion” watch. Predictably, Democrats like Senator Elizabeth Warren called it “an orgy of corruption”. Phew. #2 Sui’s $260M Crypto Heist: What Went Down? Sui’s largest decentralized exchange, Cetus Protocol, was hit with a $260 million hack that sent shockwaves through the SUI ecosystem. The attacker exploited fake tokens like BULLA to mess with liquidity pools and drain assets, including 12.9 million SUI and $60 million in USDC. They then tried laundering the loot by swapping a big chunk of USDC for 21,938 ETH. Cetus jumped on damage control, pausing smart contracts and launching a full probe. Meanwhile, SUI’s price took a hit, dropping about 15% to $3.90. The scramble is on to recover funds and shore up security. #3 GENIUS Act (Finally) Breaks Ground in Stablecoin Law The U.S. Senate just cleared a major hurdle by advancing the GENIUS Act with a 66-32 vote – the first stablecoin bill to make it this far. This bipartisan win came after last-minute tweaks and pressure from crypto advocates like Stand With Crypto. The bill lets private firms issue stablecoins and demands full backing with dollars or Treasury bills. While it bars foreign stablecoins on U.S. centralized exchanges, decentralized platforms remain untouched. Critics say the revisions are mostly cosmetic, leaving loopholes like weak data safeguards and possible regulatory capture. Big moves, but is it enough? #4 Pi Network’s $8M Scam: Pump, Dump, and Investor Fury! Pi Network is under fire with explosive $8 billion scam allegations after insiders reportedly dumped 12 million PI tokens. Blockchain sleuth Atlas points to a classic pump-and-dump move – sharp price surges followed by a brutal 50% crash post-May 14. Despite a bullish spike fueled by an 86 million token withdrawal from OKX (hinting at strong holder confidence), the price has since slumped to $0.79. The project also battles criticism over exchange listings, token distribution, and node centralization, raising serious questions about its future. Is it the end of the road for Pi? I hope not. #5 Blum Co-Founder Detained in Russia Big news out of Russia – Vladimir Smerkis, co-founder of the Telegram-based crypto project Blum and former head of Binance Russia, has been arrested in Moscow on large-scale fraud suspicions. The heat comes from his previous ventures, The Token Fund and Tokenbox, where investors reportedly lost around $15 million. While the investigation is ongoing and no formal charges are out yet, Russian courts have approved his detention. Blum quickly clarified that Smerkis resigned and is no longer connected to the project, distancing themselves from the scandal. #6 Cardano CEO Fires Back at $600M Allegations Charles Hoskinson is pushing back hard against claims he misused $600 million worth of ADA tokens. The drama centers on accusations that during Cardano’s 2021 Allegra hard fork, Hoskinson used a “genesis key” to control 619 million ADA. But he says most of the 350 million ADA involved were already redeemed over seven years, with the leftovers donated to Intersect, a Cardano-affiliated org. Feeling “deeply hurt” by the distrust, Hoskinson plans to release an audit report and might hand over his social channels to a media team to clear the air. #7 Nasdaq Welcomes First Ever XRP Futures ETF The wait is over – XRP stepped into the ETF spotlight with the launch of Volatility Shares’ XRPI ETF, trading on Nasdaq. This 1x XRP futures ETF offers a safer, measured way to access Ripple’s price action without holding the token directly. Analyst Eric Balchunas called it a “good signal” of growing demand for crypto investment vehicles. With leveraged XRP ETFs already firing up interest and CME’s recent XRP futures rollout, XRPI marks a new phase in XRP’s journey. I’m loving this one! #8 MSTR Holdings Surge as States Seek Bitcoin Proxy 14 US states revealed a collective $632 million stake in MicroStrategy (MSTR) during Q1 2025, marking a 42% jump from the previous quarter. California leads with $276 million, followed by Florida and North Carolina. Utah’s holdings skyrocketed 184%, while Wisconsin sold its $300 million Bitcoin ETF stake, increasing MSTR instead. This shows states prefer indirect Bitcoin exposure through MicroStrategy’s massive 576,230 BTC stash, avoiding direct crypto ownership complexities. #9 Who’s Buying USDC? Circle’s Next Move Circle, the powerhouse behind USDC, is stirring the pot with a $5 billion valuation price tag as it entertains acquisition talks. Ripple and Coinbase have both stepped into the ring, but Circle shot down Ripple’s XRP-heavy bid, citing concerns over liquidity and valuation mechanics. Meanwhile, talks with Coinbase are reportedly friendlier – “If Coinbase wanted to buy them, Circle would sell in a second,” insiders say. Despite these moves, Circle’s IPO ambitions remain alive but shaky, as broader market volatility and trade policies push the company to rethink timing. Big questions loom over USDC’s future path. #10 Texas Bitcoin Reserve Bill Passed Texas just got one step closer to becoming America’s Bitcoin bull state. Senate Bill 21 – which would establish a state-run Bitcoin Reserve – passed its final House vote, clearing 101-42. All that’s left is Governor Abbott’s signature, and the signs are strong. He even shared the proposal on X, and crypto voices like Kyle Chassé are already calling it: “It’s happening.” If Abbott signs before the June 2 deadline, Texas will follow New Hampshire as the second U.S. state with its own BTC stash. Trump’s vision is shaping up quite well. In the Spotlight Here’s a few quick hits you shouldn’t miss! HSBC Goes Live with Tokenized Deposits: HSBC has officially launched its Tokenised Deposit Service in Hong Kong, enabling 24/7 fund transfers using blockchain tech. Ant International led the charge as the first client to go live. A Wall Street Stablecoin? Yep, It’s Being Discussed: Some of the biggest U.S. banks – including JPMorgan, Citi, and Wells Fargo – are reportedly discussing a joint stablecoin venture, according to WSJ. Early talks, but major implications if it lands. Crypto Meets Stocks, Powered by USDT: Bybit just launched stock trading with USDT via Metatrader 5, giving users access to Apple, Tesla, gold, forex, and crypto from one account. Multi-market action at its best. CZ Slams Trump Crypto Allegations: CZ has slammed the Wall Street Journal for linking him to Trump-backed crypto dealings, calling the report a “hit piece.” He flatly denied acting as a “fixer” or brokering any WLF meetings. Semler Bets the House on Bitcoin: Semler Scientific just dropped $50M on Bitcoin, boosting its stash to over 4,264 BTC. With losses mounting and a crypto-first strategy now official, this healthcare firm is betting big again. What’s Next for Crypto? Major shifts to expect ahead With Texas and other U.S. states doubling down on MicroStrategy and BTC reserves, expect a growing wave of state-led crypto strategies. A formal Bitcoin reserve could become a blueprint for other red states, especially under pro-crypto leadership. The launch of the XRPI ETF on Nasdaq signals that altcoin futures ETFs are gaining traction. With CME backing XRP and Ethereum products next in line, this could bring mainstream capital to major alts fast. The GENIUS Act may have passed its Senate hurdle, but its foreign token ban and loose guardrails could trigger lawsuits, revisions, or even state-level pushback. Keep an eye on regulation updates to predict how the market might react. Crypto never sleeps, and neither do we – catch you next week with the hottest moves and biggest surprises. Stay sharp!
President Donald Trump is facing scrutiny after speaking at a private event for top investors in his $TRUMP memecoin while standing behind a lectern emblazoned with the official presidential seal — a move that may violate federal law. The event took place Thursday at Trump National Golf Club in Virginia, where Trump addressed 220 investors in his cryptocurrency project. According to US law , the presidential seal cannot be used in any manner that could imply government approval or sponsorship. Violators can face fines or up to six months in prison. Trump, who arrived at the club aboard a military helicopter, praised attendees and took aim at the Biden administration’s crypto stance. When asked about potential conflicts of interest, White House Press Secretary Karoline Leavitt said the president’s involvement was personal. “It is not a White House dinner,” she told reporters. “It’s not taking place here at the White House.” Related: Pictures give glimpse inside Trump’s memecoin holder dinner Trump features presidential seal at private properties This isn’t the first time Trump has featured the presidential seal at his private properties. Forbes has previously reported its use as golf markers at several Trump-owned clubs. 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. Source: Molly Ploofkins Bloomberg reported that a majority of the attendees at the memecoin dinner were likely foreign nationals based on their connections to crypto exchanges. “US law prohibits foreign persons from contributing to US political campaigns,” said the letter. “However, the $TRUMP memecoin, including the promotion of a dinner promising exclusive access to the President, opens the door for foreign governments to buy influence with the President, all without disclosing their identities.” Related: US lawmaker introduces anti-corruption bill ahead of Trump's dinner Trump embraces crypto despite previous skepticism Trump’s embrace of crypto marks a sharp turn from his skepticism during his first term. The $TRUMP memecoin, launched earlier this year, peaked at $74.34 before falling to $14.44 by May 22. High-profile guests at the dinner included Tron founder Justin Sun , ex-NBA player Lamar Odom, and Asian crypto executives Sangrok Oh and Vincent Liu. Sun, who reportedly invested over $40 million in $TRUMP tokens and spoke at the dinner, also has deep ties to Trump’s crypto ventures. He’s the top backer of World Liberty Financial, a Trump-affiliated firm currently under regulatory scrutiny. Magazine: Crypto scam hub expose stunt goes viral, Kakao detects 70K scam apps: Asia Express
Elon Musk still believes that replacing the blue bird logo with a Dogecoin mascot on Twitter was a great idea
In a significant move for the U.S. manufacturing landscape, President Trump announced on May 23 that a strategic alliance will be formed between U.S. Steel Corporation and Japanese Steel Corporation.
Binance co-founder Changpeng Zhao (CZ) has publicly denied claims linking him to World Liberty Financial. The former Binance CEO took to blogging platform X to call out a recent article linking him to Trump-linked entities, particularly WLFI, regarding a stake in Binance US. In the post on X, Zhao mentioned that the WSJ article was filled with inaccuracies, calling it a “hit piece” filled with negative assumptions. The WSJ article portrayed his involvement in the decentralized finance project, one which he has criticized. The platform is backed by a business entity that has affiliations with United States President Donald Trump. Trump’s sons, Eric and Donald Jr. are actively involved in managing the company. According to Zhao, the article emphasized his role as a “fixer” for the WLFI team and its co-founder Zach Witkoff during foreign trips. The article also suggested that Zhao carried out introductions and meetings for WLFI leaders during foreign trips, including a recent visit to Pakistan that reportedly resulted in a memorandum of understanding with a local official. Changpeng Zhao slams WSJ’s “hit piece” In his post on X, Zhao mentioned that he was not a fixer for anyone, denying the claims that he connected Pakistani officials Mr. Saqib with anyone from WLFI or organized any engagements abroad. “They had known each other way back, whereas I only met with Mr. Saqib for the first time in Pakistan,” he added. He also added that the WSJ submitted a list of questions that he described as wrong and negative assumptions. Another hit piece from Wall Street Journal. WSJ instead of doing journalism, has pretty much resorted to Cunningham’s Law, with negative intentions. "Cunningham's Law: The best way to get the right answer on the Internet is not to ask a question; it's to post the wrong answer."… — CZ 🔶 BNB (@cz_binance) May 23, 2025 Zhao and his public relations team have since pointed out several factual inaccuracies, concluding that the article was created with malicious intent. He also slammed WSJ, noting that it is acting as the mouthpiece for anti-crypto forces in the United States. He added that forces behind the publication want to hinder the push for the country to be the crypto capital of the world. “They want to attack crypto, global crypto leaders, and the pro-crypto administration,” CZ claimed, saying the article is part of a broader effort to stifle the industry’s growth in the US. This is not the first time that Zhao has slammed WSJ for what he describes as inaccurate reporting, with the former Binance CEO slamming its April 11 report where it said Zhao had agreed to testify against Tron founder Justin Sun. The report added that the measure was a means to settle with US prosecutors, but Zhao slammed it, noting that government witnesses are always protected and don’t go to jail. He also added that someone within WSJ had received money to smear his name. WSJ report calls out CZ’s role in WLFI CZ’s response comes after a WSJ investigation, where the news outlet highlighted a string of diplomatic and business interests involving WLFI. The WSJ report had raised concerning questions about the blurred lines between public and private interests, focusing on diplomatic and business dealings involving WLFI co-founders Steve Witkoff and his son Zach Witkoff. Steve Witkoff currently serves as the United States Special Envoy to the Middle East under the Trump administration, while Zach Witkoff has been involved in some capacity at the company, including securing a $2 billion crypto deal. The report raised questions about whether diplomatic efforts are clashing with private crypto ventures, implying that Zhao may have been trying to gain favors in the sight of the Trump administration. The Binance man confirmed on May 6 that he was seeking pardon from the Trump administration concerning his earlier money laundering conviction. The report also mentioned that WLFI, which had raised over $600 million in token sales, has refused to disclose the names of all its investors aside from some publicly known entities like Tron founder Justin Sun, who was in attendance at the Trump meme coin dinner on May 22. The president hosted the dinner for the largest investors in his Official Trump (TRUMP) meme coin. The event was graced by Sun, Magic Eden CEO Jack Lu, and BitMart CEO Sheldon Xia, among others. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Trump's tariff threat caused turmoil in global markets and affected Bitcoin prices. Leveraged positions were significantly liquidated amid heightened market volatility. Continue Reading: Global Markets React Swiftly to Trump’s Tariff Threat The post Global Markets React Swiftly to Trump’s Tariff Threat appeared first on COINTURK NEWS .
On May 24th, COINOTAG News reported a significant move in the cryptocurrency market as prominent whale trader James Wynn expanded his Bitcoin long position to a staggering $1.2167 billion, representing
Federal agents just seized $868K in crypto after busting a slick romance-fueled scam that funneled victims into fake digital asset platforms promising sky-high returns. Crypto Sting Unveiled: DOJ Seizes $868K After Web of Romance Turns Dark The U.S. Department of Justice (DOJ) announced on May 23 that federal authorities have confiscated over $868K in cryptocurrency
Ethereum’s recent performance above $2,500 is fueling renewed optimism in the crypto market. As ETH consolidates in the $2,400–$2,900 range and approaches $2,577, investors are closely watching for the next breakout. Yet, while Ethereum’s resilience is impressive, the spotlight is shifting to projects with even greater upside—most notably MAGACOIN FINANCE and XRP. With Bitcoin and Stellar Lumens providing stability, these high-growth contenders are capturing the imagination of analysts and traders heading into summer 2025. JOIN NOW — $0.007 LISTING IS COMING FAST! MAGACOIN FINANCE: The 50x Contender Redefining Early-Stage ROI While Ethereum and Bitcoin anchor the market, MAGACOIN FINANCE is quickly emerging as the breakout presale of 2025. With over $8 million raised and its price still under $0.001, MAGA’s capped 100 billion token supply, HashEx-audited contracts, and viral political narrative are fueling unprecedented demand from both retail and institutional investors. Analysts are calling MAGA the standout contender of the year, with forecasts suggesting a conservative 35x gain and some models projecting up to 50x or even 18,500% upside if current momentum continues. A recent 72.95 ETH whale buy—worth over $130,000—highlights the conviction behind this early-stage gem, and with Stage 8 nearly full and a $0.007 listing target on the horizon, MAGACOIN FINANCE is quickly becoming the go-to allocation for those seeking the next crypto supercycle winner. XRP: Breaking Barriers and Building Momentum XRP is holding steady around $2.37, consolidating after a strong rally and benefiting from regulatory clarity, institutional interest, and technical strength. Analysts are eyeing a move toward $2.65–$2.85 in the short term, with some optimistic models even targeting $3.40 if bullish sentiment holds. Standard Chartered projects $5.50 by year-end, driven by ETF approvals and increased adoption, and some long-term forecasts suggest $10–$20 is possible by 2030 if Ripple’s global settlement infrastructure gains traction. While XRP’s upside is seen as steady rather than explosive, many investors are rotating into early-stage projects like MAGACOIN FINANCE for sharper, asymmetric returns. Bitcoin: The Macro Anchor With Unshakable Confidence Bitcoin remains the market’s foundation, trading above $110,000 and drawing record inflows from institutional investors. Analysts forecast a possible run to $120,000–$140,000 in the near term, with some bold projections even targeting $150,000 or more by year-end if momentum persists. Bitcoin’s macro strength provides a stable backdrop for altcoin surges, but its massive market cap means the days of 50x gains are likely behind it. For those seeking exponential returns, early-stage projects like MAGACOIN FINANCE are the new frontier. Stellar Lumens: Quiet Strength, But MAGA Steals the Spotlight Stellar Lumens (XLM) continues to serve as a reliable cross-border payments asset, maintaining steady adoption among fintech partners and remittance platforms. Trading near $0.11, XLM’s growth has lagged behind the more explosive moves seen in MAGACOIN FINANCE, which is drawing capital from investors seeking the next 50x opportunity. CLICK HERE – ONLY 0.007 AWAY FROM LIFTOFF Conclusion Ethereum’s climb to $2,577 is a testament to its resilience, but the most dramatic growth potential is unfolding in MAGACOIN FINANCE and XRP. With MAGA’s presale nearing completion, a $0.007 listing target, and analyst forecasts up to 18,500% ROI, the window for early entry is closing fast. For those seeking the next breakout winner, MAGACOIN FINANCE stands out as the top early-stage opportunity of 2025. Website: https://magacoinfinance.com Twitter/X: https://x.com/magacoinfinance Continue Reading: Ethereum’s Steady Climb to $2,577 — MAGACOIN FINANCE and XRP Show Stronger Growth Potential