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SEC commissioner criticizes Ripple settlement, warns of weakened crypto oversight
US Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw has strongly opposed the agency's recent settlement with Ripple Labs, arguing that it weakens regulatory oversight and fails to protect investors. In a May 8 statement, Crenshaw said the agreement undermines the court's and the SEC's authority to enforce securities laws. She warned that the deal […]
Bitcoin’s surge above $100k still aligns with global M2 money supply increase from 90 days ago
Bitcoin crossed the $100,000 mark this week, climbing to a peak of $104,000 on May 8, as a chart tracking the global M2 money supply, lagged by 90 days, resurfaced on social media. The correlation between Bitcoin’s breakout and a revived upswing in the M2 liquidity curve gained renewed traction across trading forums and analyst […]
Bitcoin and Ethereum rallies spur market liquidations of more than $1 billion
Bitcoin and Ethereum recorded significant price gains in the past 24 hours, triggering a cascade of liquidations that cleared over $1 billion from the market. According to CryptoSlate's data, Bitcoin reclaimed a key milestone, surpassing $100,000 for the first time since early February. The asset briefly touched a high of $104,000 before retreating slightly to […]
German authorities shut down eXch amid $1.9 billion money laundering allegations, seizes $38 million in crypto
German law enforcement has shut down the crypto exchange eXch and seized digital assets valued at over $38 million, according to a May 9 statement. In a joint operation, the Frankfurt Main Public Prosecutor's Office and the Federal Criminal Police Office (BKA) confirmed that the seizure occurred on April 30, 2025. The move followed a […]
Ethereum gains 30% on Bitcoin in 2 days after 80% drop since 2022
Ethereum outperformed Bitcoin by nearly 30% over two sessions ending May 9, breaking out of a multi-year downtrend that saw the ETH/BTC pair drop more than 78% from its 2022 peak. The move began May 7, when ETHBTC rebounded from 0.0178, its lowest level since early 2020, to reach 0.0217 by May 9. ETH/BTC 30 […]
XRP payments coming to 6,000 US pharmacies in new $50M healthcare deal
Pharmaceutical supply chain and technology firm Wellgistics Health has announced it will integrate XRP as a treasury asset and payments infrastructure across its pharmacy network. The $50 million capital facility, structured as an equity line, was arranged through LDA Capital, a private alternative investment group with prior involvement in crypto-backed funding strategies. The agreement allows Wellgistics to draw […]
Solana lacks ‘convincing signs’ of besting Ethereum: Sygnum
Solana does not yet have “convincing signs” that it could overtake Ethereum as the blockchain of choice for institutions, as its revenue is seen as unstable due to its memecoin concentration, according to crypto bank group Sygnum. In a May 8 blog post, Sygnum said that the current sentiment around Ethereum “remains poor,” with the […]
Bitcoin exchange inflows show heavy institutional activity, virtually no LTH selling
Bitcoin exchange inflows over the past month have been driven almost entirely by freshly moved supply, with minimal involvement from long-dormant holders. Nearly three-quarters of all daily deposits across major exchanges consisted of coins that had last moved less than 24 hours earlier, pointing to high-frequency repositioning activity rather than strategic distribution. This type of […]
Meta exploring stablecoins for cross-border payouts in renewed crypto push
Meta is exploring stablecoin-based payment infrastructure in a renewed effort to integrate blockchain technology into its platforms, Fortune reported on May 8, citing people familiar with the matter. According to the report, the tech giant is in preliminary discussions with multiple crypto firms to evaluate stablecoins as a mechanism for managing cross-border payouts. The discussions […]
Coinbase Q1 revenues up 40% YoY to $2 billion, while net income down
Coinbase reported $2 billion in total revenue for the first quarter, compared to $1.6 billion in the first quarter of 2024. Meanwhile, the exchange posted $66 million in net income, compared to $1.2 billion, including unrealized gains of $737 million, during the same period last year. Coinbase reported $930 million in adjusted EBITDA for the […]
Reporters find Zerebro founder alive and breathing at parent's house, confirming suicide was staged
Zerebro founder Jeffy Yu was found alive and living at his parents’ house in San Francisco, confirming growing suspicions that the death was staged. Yu, whose livestreamed “suicide” set off a viral cascade of eulogies, a commemorative memecoin launch, and even a digital obituary, was confronted by reporters from the San Francisco Standard on May […]
SEC files to settle lawsuit with Ripple, execs over civil penalty dispute
The US Securities and Exchange Commission (SEC) filed a proposed settlement agreement with Ripple, CEO Brad Garlinghouse, and Executive Chairman Chris Larsen to resolve the Commission's longstanding civil enforcement action against the company and its executives. In a filing submitted on May 8, the SEC and the defendants jointly requested that the US District Court […]
SEC’s crypto task force lead criticizes ETF approval process, highlights need for patience
The head of the US Securities and Exchange Commission (SEC) Crypto Task Force, Hester Peirce, said the decade-long process that led to the approval of spot Bitcoin exchange-traded funds (ETFs) was mishandled, and urged crypto market participants to be patient with ongoing regulatory delays. In an interview on Bloomberg’s Trillions podcast, Peirce addressed the slow […]
Former Celsius CEO Alex Mashinsky receives 12 years in prison over fraud scheme
Ex-Celsius CEO Alex Mashinsky was sentenced to 12 years in prison on May 8 for orchestrating a scheme that defrauded customers of the crypto lending platform by misrepresenting investment risks and manipulating the price of the company's token, CEL. As Bloomberg News reported, the sentence was handed down by US District Judge John Koeltl in […]
StanChart says Bitcoin could exceed $120K target for Q2 amid institutional, sovereign boom
Standard Chartered's head of digital assets research, Geoffrey Kendrick, said Bitcoin (BTC) appears on track to reach new record highs sooner than expected, driven by mounting institutional inflows and a global shift in asset allocation. In a May 8 investor note shared with CryptoSlate, Kendrick said he initially projected a $120,000 price target for the […]
GENIUS Act stalls in Senate, lawmakers eye new proposal next week
The Senate denied the motion to invoke cloture on the motion to consider the GENIUS Act bill, which aims to regulate stablecoins in the US. The decision came with a one-vote difference, as 49 Democrat senators denied the motion against 48 favorable votes. Senate Majority Leader John Thune accused Democrats of using the filibuster for […]
UAE state-owned Emarat partners with Crypto.com to integrate Bitcoin, crypto payments at gas stations
Emirates General Petroleum Corporation (Emarat), the UAE's federal government-owned fuel retailer, has partnered with Crypto.com to introduce crypto payments at fuel stations, marking a first in the Middle East and North Africa. The initial phase enables crypto payments at 10 Emarat stations across Dubai, with plans to expand the service throughout Emarat's network, according to […]
SEC considers crypto exemption to streamline tokenized securities trading
The US Securities and Exchange Commission (SEC) is reviewing a potential exemption order allowing firms to issue and trade securities using distributed ledger technology (DLT). SEC Commissioner Hester Peirce revealed this plan during a May 8 address at the agency's International Institute for Securities Market Growth and Development. SEC's proposed crypto framework According to Peirce, […]
OpenAI launches initiative to spread democratic AI through global partnerships
OpenAI launched a new initiative to help countries build artificial intelligence systems rooted in democratic values, according to a May 7 statement. The OpenAI for Countries initiative is part of the firm’s broader Stargate project and aims to engage governments to partner in shaping AI frameworks that uphold transparency, accountability, and public interest. According to the […]
Bitcoin hits $101k to reclaim six-figures as Trump confirms US, UK trade deal
Bitcoin (BTC) reclaimed the $100,000 mark for the first time in over two months, driven by bullish market sentiment, rising institutional adoption, and renewed macroeconomic confidence after President Donald Trump announced a major trade deal with the UK on May 8. Bitcoin hit an intraday high of $101,493, extending a broader rally that has gained […]