200% Bonus: 100K Daily Giveaways, Instant Withdrawals, Best VIP Club, 3000+ Slots, Poker, Blackjack and More - Provably Fair The content and materials featured on this page are for educational purposes only. The Ethereum price has been underwhelming despite BTC crossing $111,000, but a bounce might be close. Meanwhile, Shiba Inu coin whales have been doubling down on Unilabs (UNIL), a new ICO. Its unique value proposition revolves around identifying high-potential digital assets early through artificial intelligence, thereby assisting retail traders to maximize gains — an AI-backed DeFi asset manager. Unilabs, an emerging AI-DeFi coin, stands out in the ICO scene for its novelty. Early funding surpassing $810,000 highlights its upside potential and, most importantly, real-world applications. With over $30 million in Assets Under Management (AUM) as of the second quarter of 2025, the increasing demand and interest in this AI-driven DeFi asset manager is understandable. The goal of the platform is to democratize access to alpha by equipping retail investors with AI-enhanced portfolios and transparent performance metrics for better investment decisions. Key features include a mining pool, flash loan accelerator, stablecoin savings account, self-custodial asset value and cross-chain trading hub. Unlike conventional protocols, the UNIL protocol will operate a state-of-the-art mining pool with cutting-edge hardware. Further, its DEX aggregator will be compatible with multiple blockchains. Equally important, users will have full ownership and protection over their digital assets, self-custodial storage solutions. VECTORCP, another crypto expert, echoes this bullish Ethereum price prediction — a run toward $3,200 and $3,800. BezosCrypto, with an optimistic outlook, targets $0.00017 this cycle, a bold Shiba Inu price prediction. However, given its strong memetic appeal and growing shift towards AI, Unilabs might be a more promising alternative this year. The UNIL presale races toward $1 million in funding, propelled by growing whale interest. To learn more about Unilabs, visit the official website, and Telegram. Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company. Ripple CEO snubbed by Lummis: XRP FUD Fuels crypto drama While traders eye TRUMP's $0.20 rally, WIF magic, a $450b disruption flies under the radar XRP could explode after Bitcoin dominance declines, Unilabs crosses $800k raised Get crypto market analysis and curated news delivered right to your inbox every week.

Analysts are warning of more fiat currency debasement, which is driving a growing appetite for digital assets, including cryptocurrencies and NFTs. Risk appetite across traditional and cryptocurrency markets saw a sharp rise this week, helping United States cryptocurrency funds recover the capital lost to the correction of February and March, amassing over $7.5 billion worth of weekly inflows. Bitcoin (BTC) surpassed its old all-time high on May 21, two days after President Donald Trump confirmed ongoing ceasefire negotiations between Russia and Ukraine in a May 19 X post. Meanwhile, popular analyst and Global Macro Investor CEO Raoul Pal warned of more fiat currency debasement, urging investors to gain more exposure to cryptocurrencies and non-fungible tokens (NFTs), as these assets “will never be this cheap again.” Investing in digital assets is becoming increasingly important in the “world of the exponential age and currency debasement,” according to Raoul Pal, founder and CEO of Global Macro Investor. NFTs are “the single best long term store of wealth I know and you get to buy it before network effects kick in,” he added in another response. “For traders and investors, further down the wealth curve, NFTs are partially about speculating on future returns,” he told Cointelegraph, adding that NFTs also benefit from the allure of strong communities, beyond just wealth creation. Crypto investment products in the United States have attracted over $7.5 billion worth of investment in 2025, with a fifth week of net positive inflows last week signaling growing investor demand for digital assets. US-based crypto investment products attracted $785 million worth of investment last week, pushing the year-to-date (YTD) total to over $7.5 billion, according to a May 19 report by digital asset manager CoinShares. VanEck plans to launch a private digital assets fund in June targeting tokenized Web3 projects built on the Avalanche blockchain network, the asset manager said in a statement shared with Cointelegraph. The VanEck PurposeBuilt Fund, available only to accredited investors, aims to invest in liquid tokens and venture-backed projects across Web3 sectors, including gaming, financial services, payments, and artificial intelligence. Idle capital will be deployed into Avalanche (AVAX) real-world asset (RWA) products, including tokenized money market funds, VanEck said. The fund will be managed by the team behind VanEck's Digital Assets Alpha Fund (DAAF), which oversees more than $100 million in net assets as of May 21. 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, according to a report from Pendle compiled by analysts from Spartan Group and Modular Capital shared with Cointelegraph. In contrast, assets such as Ether (ETH), which historically contributed 80%–90% of Pendle's TVL, have shrunk to less than 10%. With over $200 billion in circulation and US Federal Reserve interest rates at 4.3%, Pendle estimates that stablecoin holders are missing out on more than $9 billion in annual yield. That makes Tether the 19th largest entity among all counties in terms of T-bill investments. “This milestone not only reinforces the company's conservative reserve management strategy but also highlights Tether's growing role in distributing dollar-denominated liquidity at scale,” wrote Tether in the report. During 2024, Tether was the seventh-largest buyer of US Treasurys across all countries, surpassing Canada, Taiwan, Mexico, Norway, Hong Kong and numerous other countries, Cointelegraph reported in March 2025. Thanks for reading our summary of this week's most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

Bitcoin and Ethereum ETFs are experiencing unprecedented investment inflows: over one billion dollars in a single day. These massive inflows, unseen since January, coincide with a strong price increase. For cryptocurrency experts, this is an unprecedented level since January. Since early April, Bitcoin ETFs have attracted nearly 6.6 billion dollars. A figure that reflects sustained enthusiasm for this revolutionary digital asset! The Ethereum ETF is also recording significant inflows. In recent days, it has attracted approximately 65 million dollars. The strong activity of ETFs comes as Bitcoin reaches a new historic record. According to them, the momentum could intensify if macroeconomic conditions evolve favorably. They particularly refer to the Fed's decision regarding interest rates. Despite this institutional excitement, retail investor interest remains moderate. This could influence future volatility in the crypto market! The current trend paves the way for a new phase of development and recognition for digital assets in traditional financial markets. Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions. Receive the latest and best crypto news directly to your inbox in daily, weekly, or special format, to stay updated at your own pace Receive the latest and best crypto news directly to your inbox in daily, weekly, or special format, to stay updated at your own pace

Crypto analyst Astronomer has provided insights into when the altcoin season will likely begin following the Bitcoin price's rally to a new all-time high (ATH). His analysis indicated that BTC's dominance is about to top, which will pave the way for altcoins to outperform the flagship crypto. Altcoin Season To Begin Soon As Bitcoin Price Hits New ATH In an X post, Astronomer predicted that the altcoin season is imminent, seeing as BTC's dominance (BTC.D) has hit 65% following the Bitcoin price rally to a new ATH. From a counting perspective, Astronomer remarked that BTC is coming to the end of the transition period, and altcoins will likely make their bigger moves soon. With the Bitcoin price dominance currently at almost 63%, Astronomer affirmed that he is well-positioned for the top, with altcoin season coming after. The analyst stated that soon, these altcoins will put in their big moves until they are forced to become the narrative again, where they top out. Crypto analyst CrediBULL Crypto is also confident that the altcoin season is imminent amid the Bitcoin price's rally to a new ATH. In an X post, he stated that where the market is headed in the coming months, every lagging altcoin is an opportunity to be thankful for, not a problem to be frustrated about. BTC Is Forming A Top At Current Price Levels In an X post, crypto analyst CryptoVerse stated that the Bitcoin price is likely forming a top at its current levels. He admitted that the flagship crypto could still rally to between $112,000 and $118,000 but warned that it could mark the cycle peak. He noted that there could be short-term bounces, but a full-blown rally is unlikely to happen before then.

Alchemy has acquired HeyMint, a user-first NFT launchpad, to accelerate and strengthen Alchemy's mission to simplify and scale user onboarding in web3 through its Smart Wallets solution, the company announced Friday. Unveiled earlier this year, Alchemy Smart Wallets are enterprise-grade, programmable smart contract wallets that enable frictionless onboarding, gasless transactions, enhanced security, and flexible authorization methods for web3 users and developers. Alchemy noted that HeyMint's shared emphasis on accessibility and ease of use makes it a strong complement to Smart Wallets. Alchemy and HeyMint did not disclose the deal terms. HeyMint's products, such as its Launchpad and Allowlist tools, reflect a strong track record in reducing barriers to entry and enhancing accessibility, goals that directly support the expansion of Alchemy's Smart Wallet ecosystem. “Together, we will continue to improve and evolve Alchemy's Smart Wallets.” Alchemy added that incorporating HeyMint's proven SDK and embeddable web3 engagement tools will empower developers to seamlessly integrate Smart Wallet functionality into a variety of platforms, including apps, games, marketplaces, and loyalty programs. To date, HeyMint tools have saved creators an estimated $9 million on allowlists and over $29 million in NFT launch costs, as noted in the announcement. The acquisition also brings on HeyMint co-founder and CTO Flor Ronsmans De Vry, a veteran web3 developer and founder of blockchain automation firm Fuse Robotics. Just last week, the company acquired DexterLab, a top Solana infrastructure provider trusted by firms like Google and the Solana Foundation. The move is expected to enhance Alchemy's infrastructure portfolio and accelerate innovation as it expands support beyond Ethereum.

According to an investigator's affidavit, the Twin Cities man clicked a phishing link, then quickly opened his Coinbase app “and saw his digital assets were being moved out of his wallet” with no ability to stop it. A Twin Cities man opened an email, realized his mistake and watched as more than $2 million was drained from his Bitcoin account in a phishing scam, according to a state investigation. An investigator working with the state Bureau of Criminal Apprehension (BCA) financial crimes task force laid out the Anoka County man's reverse windfall in a search-warrant affidavit filed this week. It seeks to gather information from the prime suspect's social media account. As of Friday, there have been no arrests or charges in connection with the case, said Brooklyn Park police Inspector Matt Rabe. Jake Tuzinski, is heading up this investigation. The Minnesota Star Tribune generally does not identify suspects before they are charged. Tuzinski said Friday that everyone needs to “take a pause while reading these emails. Check not just the name of the header such as ‘From: Coinbase,' but also drop it down and look at the full email domain it is coming from.” continued that “after he clicked on a link contained within the email, he realized the email was not legitimately from Coinbase and suspected it was a phishing attack. The man estimated that the sum of his digital assets in various accounts totaled $2.4 million, nearly all of it in Bitcoin. But Coinbase said its exchange — which helps users make transactions — and the Wallet app are “two different things, [and] they were unable to stop any transactions.” The investigator said he then turned to cryptocurrency exchange giant Binance and identified the suspect “through Nigerian documents and a self portrait.” The suspect explained in an email the Bitcoin was given to him anonymously, but “I believe [him] to be more involved than just simply receiving an anonymous donation,” Tuzinski wrote. Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously. The coins are created by users who “mine” them by lending computing power to verify other users' transactions. Bitcoins are basically lines of computer code that are digitally signed each time they travel from one owner to the next. Transactions can be made anonymously, making the currency popular with libertarians as well as tech enthusiasts, speculators — and criminals. The long-running con known as phishing is one of many scams plaguing U.S. consumers in an onslaught that can feel relentless, with criminals targeting individuals via mail, email, phone, text and social media. For more about cryptocurrency in general from the Federal Trade Commission and how to watch out for scams, click here. This report contains material from the Associated Press. Paul Walsh is a general assignment reporter at the Minnesota Star Tribune. He wants your news tips, especially in and near Minnesota. With credit for time in jail, Courtney Parker is expected to serve slightly more than 3⅓ years in prison and the balance on supervised release. With credit for time in jail, Courtney Parker is expected to serve slightly more than 3⅓ years in prison and the balance on supervised release.

There have been major developments this week in the crypto landscape: These developments signal growing institutional interest and a maturing regulatory environment for digital assets. For investors, this could highlight fresh opportunities in the altcoin market. With a ‘Greed' indicator of 76 and the market cap rising, the evidence of a ‘risk-on' sentiment is clear. This is particularly clear when you note the rise of altcoins like $MIND of Pepe, which have raised over $10M in their presale. Let's delve into some of the best altcoins that could see an uptrend given these encouraging signs. $MIND is your gateway to AI alpha, offering a winning edge in the fast-paced crypto markets. Its sophisticated AI will scour on-chain data, social sentiment, and emerging trends to reveal key insights and signals to give you a running start in the market. Holding $MIND unlocks your access to these exclusive, AI-generated reports and analytics, designed to sharpen your strategies. And this seems ever more likely with the positive regulatory shifts increasing market sentiment. It's about democratizing alpha by combining the market-moving power of Pepe with the deep analytical skills of AI. Get ready to think smarter, not just harder. Pudgy Penguins ($PENGU) represents much more than a popular NFT collection. It's a rapidly expanding global IP and symbol of positivity, known for its ‘Pugdy Power.' This beloved brand has successfully bridged Web3 and the mainstream with its adorable characters appearing as actual toys in major retail stores and an expanding content universe. Having already broken records like achieving the largest Telegram channel (52M+ subs) and the fastest 100M+ player onboarding (2 months), Hamster Kombat is set for potentially crypto's largest airdrop from its 100B token supply. But $HMSTR is more than an airdrop; it's a community-driven token set to power a burgeoning game publishing platform and seamlessly onboard the next billion users into Web3. This platform is set to dismantle traditional barriers content creators face, offering real autonomy and ownership. The $SUBBD token fuels that revolution, facilitating transparent transactions, community governance, and access to tools designed for direct creator-to-fan engagement and value exchange. It's about empowering artists, writers, musicians, and all creators to build sustainable careers on their own terms, fostering creative and financial freedom, making it one of the best presales. As the crypto industry matures and becomes more welcoming, it opens the space to crypto innovation and investment. Coins like $SUBBD and $MIND, with their bold visions and cutting-edge approaches, are great examples of the exciting opportunities popping up in the altcoin market. While the innovation, potentially being supported by clearer regulations, is exciting, it's still essential to do your homework. Crypto is a rollercoaster, so do your own research to see if an investment fits with your goals and finances. For updates and exclusive offers enter your email.

Crypto traders betting on a steady bitcoin BTC$109,495.30 rally got a sharp reminder of headline risk from Donald Trump's latest tariff threats. Over $300 million worth of leveraged derivatives positions were liquidated across centralized exchanges in the past four hours, according to CoinGlass data, as crypto prices plunged following the news. Nearly all liquidations came from long positions—traders betting on higher prices. "Nice aggregate flush of long leverage and de-risk selling from spot," well-followed crypto trader Skew noted in an X post early Friday. Crypto trader named James Wynn, who gained attention recently opening a $1.1 billion BTC long bet with 40x leverage on the Hyperliquid exchange, also slipped underwater on the massive position. Currently, the trader is sitting on $7.5 million of unrealized losses, and the position could be liquidated if BTC slips to $102,000, according to a screenshot shared on X. Interestingly, the long liquidations came amid a recent unusual tilt toward short positions in BTC derivatives despite record prices, CoinDesk reported on Thursday. Read more: Why Are Bitcoin Traders Aggressively Shorting as BTC Hits New Record High? Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk.

The San Francisco-based crypto exchange Kraken is bringing tokenized versions of popular US-listed stocks and exchange-traded funds (ETF) to its clients in select non-US markets. In a statement, Kraken says it partnered with the tokenized stocks and ETF issuer Backed to launch xStocks on the Solana (SOL) blockchain. xStocks, a tokenized equities brand developed by Backed, taps blockchain technology to offer tokenized versions of US-listed equities. Says Kraken Global Head of Consumer Mark Greenberg, “Access to traditional US equities remains slow, costly and restricted. With xStocks, we're using blockchain technology to deliver something better – open, instant, accessible and borderless exposure to some of America's most iconic companies. This is what the future of investing looks like.” Kraken says xStocks assets will be issued as SPL tokens, the standard token format on the Solana blockchain, and will be available to eligible clients through its app. “These xStocks assets can be traded both on our platform as well as onchain through compatible wallet providers, allowing users to leverage their xStocks as collateral in ways that simply is not possible through TradFi.” Kraken says Solana is selected as the launch chain for xStocks because of the blockchain's performance, low latency and thriving global ecosystem. The exchange says that it plans to expand the range of tokenized assets and the jurisdictions where xStocks is supported. Generated Image: Midjourney Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3. Categories Bitcoin • Ethereum • Trading • Altcoins • Futuremash • Financeflux • Blockchain • Regulators • Scams • HodlX • Press Releases ABOUT US | EDITORIAL POLICY | PRIVACY POLICY TERMS AND CONDITIONS | CONTACT | ADVERTISE JOIN US ON TELEGRAM JOIN US ON X JOIN US ON FACEBOOK COPYRIGHT © 2017-2025 THE DAILY HODL © 2025 The Daily Hodl

DUBAI, United Arab Emirates — On a humid Dubai night in early May, I joined guests gathered on the five-storey, 220-foot long Lotus megayacht to celebrate the culmination of TOKEN2049, a major crypto conference held in the glitzy desert emirate I call home. It's part of a long string of high-profile UAE-based industry events and feels like a prescient symbol of the ever-growing exuberance around cryptocurrencies in the Middle East — and globally — right now. The attendees around me spanned a colorful mix; crypto investors and startup founders, programmers, influencers – and those who, after half an hour of conversation, still wouldn't really explain what they do. Elon retweets me a lot," one guest said as he introduced himself. I later heard him say the exact same line to three other people. One pair of female attendees promoted their Dubai-based startup that designs business plans for corporates and entrepreneurs "by calculating their astrology and birth chart numerology." They told me that "millionaires often look down on this science … but billionaires love it." Between shots of tequila he discussed collaboration with crypto enthusiasts who'd flown in from China. The guestlist also featured Olaf Carlson-Wee, the bleach-blonde original "bubble boy" of crypto, who was Coinbase's first employee and later founded Polychain Capital, one of the world's largest crypto hedge funds. Carlson-Wee, whose net worth is estimated to be in the hundreds of millions, said he is frequently flown in from Los Angeles to work with the UAE government. His son Eric Trump, executive vice president of the Trump Organization and board member of Trump-family-owned crypto platform World Liberty Financial, was a keynote speaker at Dubai's Token2049. He was joined by Zack Witkoff, World Liberty Financial's co-founder, and the son of Steve Witkoff, the Trump administration's Middle East envoy. Speaking onstage at the event on May 1, Eric Trump also announced that the Trump family's World Liberty Financial would provide the stablecoins for Abu Dhabi state-backed investment firm MGX's mammoth $2 billion investment into Binance, the world's largest crypto exchange. "We thank MGX and Binance for their trust in us," Zack Witkoff told the audience. Jordan Jefferson, CEO of MyDoge, the team behind DogeOS, moved from Canada to Dubai in 2022 in search of a more crypto-friendly regulatory environment. At a time when North America was cracking down on the industry, he said the UAE was "embracing it and leading regulation." Jefferson and his colleagues had donned shirts emblazoned with a picture of the Doge shiba inu wearing an Emirati headdress, the kandura, which they dubbed "Habibi Doge." Major crypto exchanges like Binance, Crypto.com, OKX, Bybit, and Kraken have received approvals or provisional licenses to operate in the UAE, with many choosing to open offices and regional headquarters there. The Gulf country has also established a "UAE blockchain strategy," hosts several major crypto events annually and offers visas to remote workers and entrepreneurs along with streamlined procedures for starting businesses. "They're leading the way in regulation, definitely trying to be one of the premier jurisdictions where everything is fully regulated," Jefferson said of Dubai and Abu Dhabi. Dubai in 2022 established the Virtual Assets Regulatory Authority, or VARA — the world's first independent crypto regulator — which oversees virtual asset activities in the emirate and provides licensing and supervision to crypto businesses. Abu Dhabi Global Market in the UAE capital also updated its digital asset framework in 2023, providing a clearer licensing and regulatory environment for crypto exchanges, custodians, and other virtual asset service providers. Despite enjoying a rally in prices in recent years, the crypto industry has faced numerous scandals and controversies over time, from the collapse of FTX to the jailing of the crypto exchange's founder Sam Bankman-Fried and former Binance CEO Changpeng Zhao. Before declaring bankruptcy in November of 2022, FTX had established its regional headquarters in Dubai and was one of the early firms issued a license by VARA in March of that year, as the emirate worked to entice crypto businesses. Zhao, a Dubai resident, has since been released from prison after serving a four-month term on charges of money laundering. He was granted UAE citizenship, though the timing of his Emirati naturalization has not been publicly disclosed. In February, Dubai-based digital currency exchange Bybit revealed it was the victim of a hack that saw cybercriminals make off with $1.5 billion worth of tokens — the largest-ever crypto heist in history. The UAE has learned from its experiences, Token2049 attendees told CNBC. "It's not easy" to implement robust regulation, Jefferson of DogeOS said. "It's easy to say, 'hey, you can do anything here'. It's harder to do a regulatory framework where other countries around the world will accept it and realize that if you're a company built here [in the UAE] and under these regulations, it's legit. So I think that's probably the most important part." Several crypto investors described due diligence work in the UAE as having become more sophisticated, but say regulation is at a level that still makes it friendlier to the industry than the U.S. or Europe. "People really feel much safer building crypto companies in Dubai versus in the United States — the U.S. is very over-regulated," said William Athanas, Miami-based founder of xMarkets, a new prediction market launching on DogeOS. But we just haven't really seen that yet." Danni Liu, a Chinese national currently based in Sweden who co-founded LIFE Protocol — a platform that uses the blockchain to enable community-driven scientific research — was in Dubai for the first time to attend the crypto conference and DogeOS boat party. "Before I got here, it felt like the market sentiment was not that high, people were less willing to take risks," Liu said. Sign up for free newsletters and get more CNBC delivered to your inbox

Bitcoin has fallen last month briefly over geopolitical uncertainties following Trump's tariff-induced assault on many countries, triggering fears of a global economic turmoil. However, with some of those concerns reducing, after events like the US signing a trade deal with China, the digital currency has been gaining momentum. The GENIUS Act played a further role in its upward surge. While the bill has received support from some Democrat members because of which it moves forward in the US Senate, there are growing concerns that US President Donald Trump — once a crypto sceptic — and some of his supporters from the crypto and tech industry could personally benefit from it. Trump and his wife Melania have issued their own meme coins and have an active interest in the crypto market going up. At its core, the GENIUS Act focuses on regulating stablecoins, a type of cryptocurrency that is pegged to more predictable assets like the US dollar. Among others, it also allows big tech companies to issue stablecoins, in what is being seen as a big win for many of Trump's supporters from the industry, who threw their weight behind him in the run-up to the Presidential bid and have continued their support to him since his reelection. The bill says that issuers must comply with anti-money laundering (AML) and anti-terrorism regulations, as well as privacy requirements under existing banking laws. It requires that crypto issuers must fully back stablecoins with fiat currency or high-quality liquid assets at a 1:1 ratio. If American lawmakers don't shape it, others will – and not in ways that serve our interests or democratic values. Innovation in this space is happening, with or without us. As per a fact sheet released by Senator Elizabeth Warren, Ranking Member of the US Senate Committee on Banking, Housing and Urban Affairs, said, “A strong bill would ensure that consumers enjoy the same consumer protections when using stablecoins as they do when using other payment systems, close loopholes that enable the illicit use of stablecoins by cartels, terrorists, and criminals, and reduce the risk that stablecoins take down our financial system. There are also concerns around potential conflict of interest for US President Donald and his growing cryptocurrency firm, could inappropriately benefit from crypto. “This bill provides even more opportunities to reward buyers of Trump's coins with favors like tariff exemptions, pardons and government appointments,” Warren said in a speech ahead of the vote. Another concern in the legislation is that it allows big tech companies to issue stablecoins. Companies like Meta had previously tried to make an unsuccessful foray into the crypto industry. As per the New York Times, some changes have been made to the bill to assuage concerns around the involvement of tech companies, requiring that they seek approval from a regulatory committee before issuing their own stablecoins. While that appeared to assuage concerns of some Democrat members, not everyone was on board. “Despite new language on this issue, the final bill fails to prohibit Big Tech companies from issuing stablecoins. While the bill purports to place restrictions on some Big Tech companies' ability to issue stablecoins, those restrictions are riddled with straightforward and easily identifiable loopholes,” Warren said in her fact sheet. He once also tailed a food delivery worker for over 12 hours to quantify the amount of money they make, and the pain they go through while doing so. In his free time, he likes to nerd about watches, Formula 1 and football.

Data Point Decoding the headlines with facts, figures, and numbers The top 25 investors, according to an event website, will get a private session with Trump beforehand and a White House tour [File] | Photo Credit: REUTERS The top 25 investors, according to an event website, will get a private session with Trump beforehand and a White House tour. Trump launched the memecoin three days before his January inauguration, quickly increasing his net worth by billions and raising major ethics concerns, including over possible foreign influence. Democratic Senator Elizabeth Warren and colleagues called Thursday for Trump to disclose who is attending the dinner. Data analytics firm Inca Digital has confirmed that many transactions occurred through international exchanges unavailable in the United States, suggesting foreign buyers. Chinese-born crypto entrepreneur Justin Sun claims the top investor position, having committed $20 million to the memecoin as part of his $93 million total investment in Trump-linked crypto ventures. Sun, founder of top 10 cryptocurrency TRON, was under investigation by U.S. authorities for market manipulation, but regulators, now controlled by Trump appointees, agreed in February to a 60-day pause to seek a settlement. According to the website Popular Information, a few weeks before that decision, Sun purchased $30 million in digital assets from a venture backed by Trump and his family. "Some say this is a back door to corruption," Unga said. "I would argue it's the front door with valet parking, and it's got a red carpet... and a slap in the face of hard working Americans." White House Press Secretary Karoline Leavitt dismissed the allegations of impropriety Thursday, telling a briefing that Trump is attending the dinner in his "personal time" and abiding by applicable conflict of interest laws. Senators on Monday advanced a landmark bill known as the GENIUS Act that proposes a regulatory framework for stablecoins, a type of crypto token seen as more predictable for investors as its value is pegged to hard currencies like the dollar. That legislation had faced roadblocks in part because of Trump's dabbling in cryptocurrencies; a rising sector he once dismissed as a scam. His stance reversed during the 2024 presidential campaign when crypto tycoons, frustrated by perceived unfair treatment under the Biden administration, became major contributors to his campaign. Bitcoin's price hit a new all-time high on Thursday, climbing above $111,000 before falling slightly. Trump's newfound enthusiasm for digital currencies has expanded into multiple ventures led primarily by his eldest sons. Their growing portfolio includes investments in Binance, a major crypto exchange whose founder seeks a presidential pardon to re-enter the U.S. market. This investment flows through World Liberty Financial, a Trump family-backed venture launched last September with significant Mideast deals. President Trump has taken concrete steps to reduce regulatory barriers, including an executive order establishing a "Strategic Bitcoin Reserve" for government holdings of the leading digital currency. Please abide by our community guidelines for posting your comments. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments.

Governor Rhee Chang-yong has begun directly meeting with top commercial bank executives to explain the importance of CBDC and gain their support in what is being described as a “hands-on marketing” approach. According to financial industry sources on May 23, Rhee recently visited six major banks -- KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup, and IBK Industrial Bank of Korea -- holding individual meetings lasting around 30 minutes with each CEO. All the banks visited by Rhee are participants in “Project Agora.” Led by the Bank for International Settlements (BIS), Project Agora is a global experiment involving central banks and international financial institutions that aims to explore improvements to cross-border payment systems by linking institutional-use CBDCs with tokenized commercial bank deposits. Rhee is said to have emphasized that if the project progresses according to the BIS's goals, participating commercial banks could significantly reduce operational costs in areas such as foreign exchange transactions and regulatory compliance. Rhee also sought attention and collaboration for a separate domestic initiative, “Project Hangang,” which is being led independently by the BOK. This project is testing the use of tokenized commercial bank deposits linked to CBDC as a means of payment in everyday transactions. Building on these one-on-one meetings, Rhee is scheduled to hold a group discussion on May 26 with the CEOs of the six banks. The meeting will include updates on Project Agora and discussions on the changing landscape of global payments and financial stability issues. A financial industry official familiar with the BOK's internal affairs stated, “Project Hangang hasn't received as much market attention or evaluation compared to its actual progress. Enter your email address below to receive our free daily newsletter: