Crypto

Your day-ahead look for May 23, 2025

High-net-worth investors can now gain Salvadoran passports via a $1M crypto donation—fast-tracked in under six weeks through the Freedom Passport. The post CitizenX Joins Forces With El Salvador to Expand Bitcoin-Backed Passport Initiative appeared first on Cryptonews.

The U.S. First Lady’s AI voice model was created “under her direction and supervision” by start-up ElevenLabs.

Sui-based DEX Cetus offered the hacker a $6 million white hat bounty offer as the protocols are trying to recover the stolen $220 million, with $162 million remaining frozen. Cetus is offering a $6 million white hat bounty in an effort to recover $220 million in stolen digital assets, while emergency responses from the Sui Network have raised concerns about decentralization. Sui-native decentralized exchange (DEX) Cetus was exploited for over $220 million worth of cryptocurrency on May 22. However, Cetus managed to freeze $162 million of the stolen funds shortly after. Cetus has since offered a white hat bounty of up to $6 million for the exploiter for returning the stolen 20,920 Ether (ETH), worth over $55 million, along with the rest of the stolen funds currently frozen on the Sui blockchain. Read more

HYPE is up 15% in the past 24 hours, outperforming majors, as developers said they submitted comments to the derivatives agency on using DeFi principles to create better products.

Decentralized exchange Hyperliquid has submitted formal comments to the US CFTC supporting 24/7 perpetual derivatives trading. Hyperliquid, a decentralized perpetuals exchange operating on its own layer-1 blockchain, has submitted formal comments on 24/7 derivatives trading to the United States Commodity Futures Trading Commission (CFTC). In a May 23 X post, Hyperliquid Labs announced that it has “submitted two comment letters to the [CFTC] in response to its recent Requests for Comment on perpetual derivatives and 24/7 trading.” The team behind the decentralized exchange (DEX) added: Hyperliquid stated that it is committed to the advancement of the decentralized finance (DeFi) space. The team also claimed that its implementation “exemplifies how core DeFi principles can be put into practice to enhance market efficiency, market integrity, and user protection.” Read more

Such a stablecoin, potentially open to other banks, aims to improve transaction speeds and efficiency while fending off competition from crypto firms.

Glassnode data shows all wallet cohorts are now accumulating, with options markets pricing in potential upside beyond $200K in June.

A global sting, dubbed Operation RapTor, has led to the arrest of 270 suspects and the seizure of $200 million in cash and crypto.

Over 100 demonstrators assembled outside a Virginia golf club to protest Trump's gala dinner for his meme coin holders.

Tron's Sun sees the President fueling a new American crypto boom.

Traders are rotating into major altcoins like XRP and Solana’s SOL as bitcoin consolidates near its record highs.

Major U.S. banks are weighing a joint stablecoin venture as pending legislation opens the door to challenge Circle and Tether’s dominance.

Michigan lawmakers introduced four crypto bills in one day, covering crypto in state retiree funds, CBDCs and Bitcoin miners operating at abandoned oil and gas sites. Michigan lawmakers have introduced four crypto-related bills covering crypto mining, central bank digital currencies (CBDCs) and crypto in state retirement funds. Republican state Representative Bill Schuette introduced House Bill 4510 on May 21, which would amend Michigan’s Public Employee Retirement System Investment Act to allow the state treasurer, currently Rachael Eubanks, to invest in cryptocurrencies that have averaged a market cap above $250 million over the last calendar year. Bitcoin (BTC) and Ether (ETH) are the only cryptocurrencies that currently meet that threshold. The bill adds that any cryptocurrencies must be held in the form of an exchange-traded product issued by a registered investment company. Read more

Yield Guild Games has debuted its first “Casual Degen” title and has launched a Web3 game publishing arm on Pudgy Penguins’ Abstract Chain.

Bitcoin reached a new all-time high on May 22, pulling almost the entire supply into profit. Data from Checkonchain showed that 99.82 % of circulating Bitcoin sat above cost on May 21, up from 74.37% during the early April drawdown. The short-term cohort logged an even steeper swing after its supply in profit collapsed from […] The post Bitcoin supply near total profitability as institutional demand drives value flows appeared first on CryptoSlate.

The Russian crypto mining sector is continuing to grow, new data shows, with the country’s two biggest firms – BitRiver and Intelion – making $200 million in revenue in FY2024. The post Russian Crypto Mining Giants BitRiver, Intelion Post Combined $200M Revenue for FY2024 appeared first on Cryptonews.

Raoul Pal, CEO of Real Vision and a prominent voice in macro investing, has once again stirred debate in the digital asset space, this time by declaring NFTs the “single best long-term store of wealth.” The comment, made in social media comment screenshotted by the community, followed his broader thesis that currency debasement and exponential […] The post Raoul Pal under fire for calling NFTs the ‘best long-term store of wealth’ appeared first on CryptoSlate.

Bitcoin set new peaks this week while trading volume on futures and spot exchanges rose significantly, reflecting intense investor demand.

Another high-profile crypto game is toast. This time, it's Ember Sword, which racked up huge funds via NFT land sales.