Crypto

Mitroplus Labs said its founder was forced to send crypto from multiple wallets by men impersonating military officers.

The GENIUS Act would legitimize stablecoins for institutional adoption and set a precedent for other global jurisdictions, according to the managing partner of DWF Labs. Stablecoin adoption among institutions could surge as the United States Senate prepares to debate a key piece of legislation aimed at regulating the sector. After failing to gain support from key Democrats on May 8, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act passed the US Senate in a 66–32 procedural vote on May 20 and is now heading to a debate on the Senate floor. The bill seeks to set clear rules for stablecoin collateralization and mandate compliance with Anti-Money Laundering laws. Read more

Avalanche (AVAX) was also among the top performers, rising 3.5% from Tuesday.

"Invisible" crypto infrastructure provider SukuPay is now integrated into Guatemala's biggest banking provider, Banco Industrial. Guatemala’s largest bank, Banco Industrial, has integrated crypto infrastructure provider SukuPay into its mobile banking app, allowing locals to more easily receive remittances powered by blockchain technology.  SukuPay’s infrastructure has been fully embedded inside the Zigi payment app, allowing Guatemalans to receive funds from the United States instantly for a $0.99 flat fee, the company disclosed on May 21.  Users of the Zigi app do not need a crypto wallet or an International Bank Account Number (IBAN) to receive the funds, the company said.  Read more

The firm expects its 19.9 MW bitcoin mine to be running by the end of July.

Richard Murray, former CEO of crypto asset manager Hilbert Capital, has recently joined Temple Capital as a partner of the firm.

SukuPay will allow Guatemalans to receive funds from the U.S. for a flat 99 cent fee, using only a phone number within their Banco Industrial mobile app Zigi.

Hong Kong's Legislative Council has passed the Stablecoin Bill, paving the way for licensed fiat-backed stablecoin issuers by year-end and positioning the region as a potential global Web3 hub. Hong Kong’s Legislative Council passed the Stablecoin Bill, paving the way for a regulated framework that could position the region as a global leader in digital assets and Web3 development. In a May 21 post on X, Legislative Council member Johnny Ng Kit-Chong said the bill had passed its third reading, clearing the final hurdle for adoption. “It is expected that by the end of this year, major institutions will be able to apply to the Hong Kong Monetary Authority to become licensed stablecoin issuers,” Ng said. Read more

U.S.-listed miners also produced fewer bitcoin last month than in March.

The pattern has raised the probability of ratio breaking out of its prolonged sideways trend in a sign of major XRP uptrend.

Cardano's performance in Q1 2025 reflected a network in transition against a challenging market backdrop. ADA's market cap declined 21% QoQ to $23.8 billion as the token price fell 22% to $0.66, largely tracking the broader 19% decline in total crypto market cap. Network activity showed reduced engagement with quarterly fee revenue dropping 32% to $1.2 million while average daily transactions fell 28% to 71,500. Notably, despite price volatility, staking commitment remained stable with total staked ADA decreasing only 1% to 21.6 billion, underscoring continued long-term holder conviction. Ecosystem metrics revealed divergent trends, with DeFi TVL contracting 29% QoQ to $319.3 million (compared to a 17% industry average decline). In comparison, the stablecoin market cap expanded 30% to $30.1 million, driven by fiat-backed options like USDM and USDA. The Plomin Upgrade, enacted via CIP-1694, empowered 1,220 DReps to drive trustless governance, marking a historic milestone. With Ouroboros Leios poised to reduce ...

Yield-bearing stablecoins have surged to $11 billion, driven by regulatory shifts and increasing user demand, with Pendle capturing 30% of that. Yield-bearing stablecoins have soared to $11 billion in circulation, representing 4.5% of the total stablecoin market, a steep climb from just $1.5 billion and a 1% market share at the start of 2024. One of the biggest winners is Pendle, a decentralized protocol that enables users to lock in fixed yields or speculate on variable interest rates. Pendle now accounts for 30% of all yield-bearing stablecoin total value locked (TVL), roughly $3 billion, the firm said in a report shared with Cointelegraph.   Pendle noted that stablecoins make up 83% of its $4 billion total value locked, a sharp rise from less than 20% just a year ago. In contrast, assets such as Ether (ETH), which historically contributed 80%–90% of Pendle’s TVL, have shrunk to less than 10%. Read more

Your day-ahead look for May 21, 2025

The decision reversed a lower court ruling that seized cash totalling $28,000 should be returned to the scam victims.

Bold Technologies and My Aion unveiled plans to develop a $2.5 billion AI-powered platform that will debut in Abu Dhabi, United Arab Emirates. Abu Dhabi-based Bold Technologies, a subsidiary of conglomerate Bold Holdings, has partnered with international artificial intelligence company My Aion to launch a $2.5 billion smart-city initiative aimed at transforming urban infrastructure through AI. The companies announced the development of a platform called Aion Sentia Cognitive City, which manages complex urban systems. The platform will be powered by Maia, an AI core engine developed by My Aion, and aims to optimize and manage systems across mobility, energy, education, healthcare and digital services.  My Aion CEO Daniele Marinelli said the AI will know the user well enough to “recommend the perfect place for your anniversary dinner and book it for you without you lifting a finger.” Read more

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Texas lawmakers voted 105-23 to advance Senate Bill 21, a crypto reserve measure that could influence the state’s approach to digital assets.

Australia’s corporate regulator is seeking High Court clarity on how crypto yield products should be regulated under financial law.

Google’s demo of the Android XR showed off features including livestreaming, photo capture, and Google Maps virtual display.

An American tourist has lost more than $123,000 in crypto after being drugged and abducted by a fake Uber driver in London’s West End.