Bitcoin bears eye $69K, CZ denies WLF 'fixer' rumors: Hodler’s Digest, Might 18 – 24

Prime Tales of The Week

CZ refutes claims in newest WSJ article on Trump-linked crypto dealings

Binance co-founder and former CEO Changpeng “CZ” Zhao has pushed again towards a report in The Wall Road Journal, calling it a “hit piece” stuffed with inaccuracies and destructive assumptions. 

In an X put up, Zhao criticized the publication’s portrayal of his alleged involvement with World Liberty Monetary, the decentralized finance venture backed by a enterprise entity affiliated with US President Donald Trump. Trump’s sons — Eric and Donald Jr. — are concerned within the administration of the corporate.

Zhao stated the WSJ article portrayed him as performing as a “fixer” for the World Liberty Monetary staff and its co-founder Zach Witkoff throughout overseas journeys.

Hong Kong passes stablecoin invoice, set to open licensing by year-end

Hong Kong’s Legislative Council handed the Stablecoins Invoice, paving the way in which for a regulated framework that might place the area as a world chief in digital belongings and Web3 growth. 

In a Might 21 put up on X, Legislative Council member Johnny Ng Equipment-Chong stated the invoice had handed its third studying, clearing the ultimate hurdle for adoption.

“It’s anticipated that by the tip of this yr, main establishments will have the ability to apply to the Hong Kong Financial Authority to change into licensed stablecoin issuers,” Ng stated.

OpenAI plans to ship 100 million pocket-sized AI gadgets for on a regular basis use

OpenAI is planning to develop AI “companion” gadgets that may combine synthetic intelligence capabilities with on a regular basis life, probably opening the door to a brand new high-tech innovation used alongside laptops and smartphones.

In an interview with The Wall Road Journal, OpenAI CEO Sam Altman stated he and former Apple chief design officer Jony Ive are growing these secret gadgets for mass consumption, with plans to ship 100 million models upon launch.

Ive joined OpenAI after his startup, io, was acquired by Altman’s firm in a $6.5 billion deal, the WSJ reported on Might 21. 

Neither Altman nor Ives specified what these companion gadgets would seem like or how they’d function. Ives merely referred to them as a “new design motion” that will be much like Apple’s household of {hardware} and software program integrations.

US lawmaker introduces anti-corruption invoice forward of Trump’s dinner

California Consultant Maxine Waters, rating member of the US Home Monetary Companies Committee, has introduced plans to introduce laws “to dam [Donald] Trump’s memecoin and cease his crypto corruption.”

In a Might 22 discover, Waters stated the Cease Buying and selling, Retention, and Unfair Market Payoffs in Crypto Act of 2025 could be aimed toward blocking the US president, vp, members of Congress and their households from participating in “crypto crime.” 

The US lawmaker referred to Trump and his spouse, Melania, issuing private memecoins in January, his household launching a stablecoin (USD1) by way of the crypto platform World Liberty Monetary, and the president making an attempt to determine a nationwide Bitcoin reserve as his sons again a BTC mining enterprise as examples of this “crypto corruption.”

JPMorgan boss says financial institution customers can quickly purchase Bitcoin

Jamie Dimon, the CEO of JPMorgan Chase, stated his financial institution will quickly permit its purchasers to purchase Bitcoin, but it surely received’t custody the cryptocurrency.

“We’re going to mean you can purchase it,” Dimon stated at JPMorgan’s annual investor day on Might 19. “We’re not going to custody it. We’re going to place it in statements for purchasers.”

CNBC reported that Dimon additionally remarked on his long-held skepticism about crypto belongings, pointing to their use in cash laundering, intercourse trafficking and terrorism.

“I don’t suppose it is best to smoke, however I defend your proper to smoke. I defend your proper to purchase Bitcoin,” he stated.

Winners and Losers

On the finish of the week, Bitcoin (BTC) is at $108,299, Ether (ETH) at $2,543 and XRP at $2.32. The full market cap is at $3.41 trillion, based on CoinMarketCap.

Among the many largest 100 cryptocurrencies, the highest three altcoin gainers of the week are SPX6900 (SPX) at 25.81%, Hyperliquid (HYPE) at 25.14% and Worldcoin (WLD) at 24.79%.

The highest three altcoin losers of the week are Walrus (WAL) at 16.00%, Pyth Community (PYTH) at 14.22% and EOS (EOS) at 11.99%. For more information on crypto costs, be sure to learn Cointelegraph’s market evaluation.

Most Memorable Quotations

“The crypto markets have been languishing in SEC limbo for years.”

Paul Atkins, chair of the US Securities and Alternate Fee

“After the coin launch, the feds got here to granny’s home and knocked on her door, and she or he referred to as me, having a coronary heart assault, saying: ‘The FBI is right here after you, what have you ever completed?”

Haliey Welch, higher referred to as the “Hawk Tuah lady”

“A market construction dominated by a couple of RPC suppliers is one that may face robust strain to deplatform or censor customers. Many RPC suppliers already exclude whole international locations.”

Vitalik Buterin, co-founder of Ethereum

“We’ve each expectation now that it’s going to move.”

David Sacks, White Home crypto and AI czar

“Previous to Bitcoin, my most profitable funding was shorting the Bolivar with {dollars}.”

Mauricio di Bartolomeo, Ledn co-founder

“Given buying and selling quantity at the moment, anticipate these influx numbers to extend.”

Nate Geraci, president of The ETF Retailer

Prime Prediction of The Week

Bitcoin ‘appears to be like exhausted’ as subsequent bear market yields $69K goal

Bitcoin merchants are calling for a pullback after all-time highs and 7 “inexperienced” weekly candles.

BTC worth momentum continues to be met with skepticism as commentators assume that decrease ranges will come subsequent.

Bitcoin hit its highest-ever ranges this week, information from Cointelegraph Markets Professional and TradingView confirmed — however regardless of being up by a 3rd in Q2 already, BTC/USD stays unconvincing for a lot of.

Lengthy-term evaluation means that not solely is worth motion because of return decrease to consolidate good points, however that your entire bull market is close to completion.

The chart itself exhibits Bitcoin’s subsequent “cycle peak” coming in This autumn this yr, with the following bear market taking BTC/USD again to 2021 highs of $69,000.

FUD of The Week

US vacationer drugged by pretend Uber driver and robbed of $123K BTC — Report

An American vacationer in the UK was reportedly drugged by a person posing as a taxi driver, who stole the vacationer’s $123,000 in Bitcoin saved on a cellphone. 

In line with a report from MyLondon, Jacob Irwin-Cline went out to a London bar and had a number of drinks earlier than calling an Uber to take him house.

Cline stated that he didn’t completely examine the small print of the Uber journey on his telephone and left with a random non-public cab driver resembling the Uber driver at first look, however driving a unique car — a element Cline would solely uncover after the incident.

Sui DEX Cetus hit by suspected hack: Over $200M in potential losses

Cetus, a decentralized change (DEX) constructed on the Sui blockchain, is suspected to have been hit by a large exploit that will have drained greater than $200 million price of digital belongings. 

Pseudonymous Web3 researcher COMDARE3 posted on X that “customers report” that Sui-based DEX Cetus is being exploited. In addition they shared a screenshot of Cetus market information on DEX Screener, exhibiting many belongings dropping nicely over half of their worth during the last 24 hours. 

The staff behind Extractor, an onchain monitoring device developed by crypto cybersecurity firm Hacken, confirmed that “at the least $63m was already bridged to Ethereum, 20k ETH was simply transferred to a contemporary pockets” in a single transaction. A Hacken consultant instructed Cointelegraph that these findings have been confirmed by the corporate’s Web3 researcher, Yehor Rudytsia.

Feds cost Amalgam founder with stealing $1M through ‘sham’ blockchain

A US grand jury has indicted the founding father of blockchain startup Amalgam Capital Ventures over allegations he defrauded traders out of over $1 million with a pretend blockchain.

Jeremy Jordan-Jones was arrested and indicted on Might 21 and charged with wire fraud, securities fraud, making false statements to a financial institution, and aggravated identification theft, the Division of Justice stated on Might 21.  

Manhattan US Lawyer Jay Clayton claimed Jordan-Jones “touted his firm as a groundbreaking blockchain startup,” however alleged that, in actuality, the “firm was a sham, and traders’ funds have been siphoned off to bankroll his lavish way of life.”

FBI Assistant Director Christopher Raia alleged that Jordan-Jones defrauded traders of greater than 1 million {dollars} by way of “misrepresentations of his purported firm’s capabilities, partnerships, and funding intentions.”

Prime Journal Tales of The Week

TradFi is constructing Ethereum L2s to tokenize trillions in RWAs: Inside story

New Ethereum L2s from Securitize and Ant Digital — custom-built for TradFi — plan to win the race to tokenize the whole lot.

AI cures blindness, ‘good’ propaganda bots, OpenAI doomsday bunker: AI Eye

Hilarious examples of AI making stuff up… but additionally being fantastically helpful by curing blindness… and probably destroying Hollywood. AI Eye

Crypto rip-off hub expose stunt goes viral, Kakao detects 70K rip-off apps: Asia Specific

Viral video of scammers being dropped at justice in Philippines, Kakao uncovers 70,000 malicious apps making an attempt to steal customers’ crypto, and extra.

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Cointelegraph Journal writers and reporters contributed to this text.