BeInCrypto Global

Mayer Mizrachi, Mayor of Panama’s capital city, recently discussed Bitcoin’s positive transformative impacts on his country at a major conference. He proposed accepting BTC payments as fare to use the Panama Canal among other growth strategies.

Ultimately, one mayor’s office isn’t capable of transforming a nation’s economic prospects alone. However, Mizrachi demonstrated concrete ways that small acts of Bitcoin adoption can build on each other.

Mizrachi Brings Bitcoin to Panama

Over the past few years, Panama has made several attempts to reform its Bitcoin policies, but these efforts repeatedly stalled out.

However, Mayer Mizrachi, the mayor of Panama City, has been attempting to innovate once again. Much like El Salvador, Panama is a nation that uses the US dollar as its legal tender. Mizrachi detailed a new approach to changing that:

“What we created was a roadmap for how cities can embrace Bitcoin regardless of national law. You can build the building blocks, so the central government can copy what you’re doing after it’s proven. 70% of [Panama’s] GDP is in my city. Whatever my city does, it makes waves around the country,” Mizrachi claimed.

Mizrachi talked about his initial plan to accept Bitcoin for municipal tax payments. In some ways, this strategy had major limits, as the city was required to exchange all this BTC for USD. This has been a springboard for Panama’s largest banks needing to deal in Bitcoin.

Already, Mizrachi has advised other mayors in the region how they can start similar initiatives. This limited project was an easy way to transform Panama’s entire Bitcoin ecosystem from the limitations of one mayor’s office.

Still, Mizrachi acknowledged that comprehensive adoption will require much more political buy-in. He commented that BTC could hypothetically be used to accept fare payments through the Panama Canal, but the US might object to this plan.

In other words, Panama’s BTC integration relies on one key factor: an active DeFi ecosystem. Mizrachi praised Nayib Bukele, who transformed El Salvador into one of the world’s largest Bitcoin holders.

Panama could also begin accumulating a Bitcoin Strategic Reserve, but more importantly, it must build connections with other regional crypto supporters.

That is to say, Panama City’s mayor doesn’t have the power to change Bitcoin’s position on his own. However, Mizrachi sees his work as proof of concept.

He detailed the economic opportunities that crypto can bring to Central America and reminded us that a better future is possible. Dedicated advocates can create powerful change with smaller actions.

TST’s value plummeted over 40% almost instantly after an anonymous whale sold $6-7 million worth of the token. The asset’s total market cap was $55 million, highlighting the size of this user’s position.

Social media users quickly accused Changpeng “CZ” Zhao or other Binance insiders of being the whale without a shred of proof. Shock is understandable, but witch hunts won’t help anyone regain their positions.

TST Whale Causes Price Shock

As far as BNB meme coins go, Test Token (TST) has as colorful a backstory as any other asset. TST was initially created to demonstrate how to launch a meme coin, but traders quickly latched onto it as a speculative asset.

However, TST enthusiasts are in disarray after one whale dumped a supply worth $6-7 million, causing extensive chaos:

Coinglass’ trading data provides some valuable insights. TST’s trading volume is up over 800% in the last 24 hours, highlighting that one whale alone had a tremendous impact.

Most of this volume was concentrated in Binance’s spot and futures markets, which the whale used to exit their position. TST’s market cap fell almost $20 million in an instant.

One extra twist is the sudden level of blame and finger-pointing from the token’s supporters. Who was this whale, and how did they get such a major chunk of TST?

If the meme coin’s market cap was only $55 million, then one person had more than one-tenth of the whole supply. Binance’s founder, CZ, got blamed for previous TST troubles, and now it’s happening again:

“Binance and CZ keep dumping on their users along with market maker Wintermute. A few months back, Wintermute dumped ACT by 70% in just a few moments. Now, TST, another scam shilled by CZ, went down almost 50%. Binance has been milking their users since they gave $4 billion to the SEC last year,” one user claimed.

To be clear, there is no evidence of CZ’s involvement. Still, social media is rife with accusations that he or another Binance insider was the TST whale.

Meme coin enthusiasts have attacked the platform after many unexpected market moves, like the aforementioned ACT crash.

Without any clearer proof, these accusations look like mere hysteria. One whale caused TST to move more in an instant than it has in over a month. A little panic is understandable, considering the circumstances.

TST Price Performance. Source: CoinGecko

Unfortunately, nobody else has proposed a serious alternative hypothesis yet. Hopefully, some post-mortem blockchain analysis will illuminate some details about the TST whale’s identity.

Until then, traders should remember that the meme coin market is extremely risky. That risk doesn’t justify baseless accusations.

Bitcoin whales are regaining dominance over exchange activity. The Exchange Whale Ratio’s 30-day moving average has surged to 0.47—its highest level in seven months—indicating that nearly half of all BTC inflows to exchanges are now coming from the largest transactions.

Historically, such spikes in whale activity have preceded major market tops, as large holders tend to move funds in preparation to sell. With retail participation fading and whale influence rising, the market may shift into a distribution phase, raising the risk of a short-term correction.

Is a Deeper Bitcoin Crash Coming?

Bitcoin recently surpassed $111,000, making new all-time highs. Yet, profit-taking from whales and another potential macroeconomic downturn has caused BTC to drop over 6%, and it is currently trading at $104,000.

Data from CryptoQuant shows a sharp rise in the Exchange Whale Ratio, suggesting caution.

Historically, when this ratio exceeds 0.5—indicating that whales account for the majority of exchange inflows—price tops often follow.

The Exchange Whale Ratio measures how much of all Bitcoin flowing onto exchanges comes from the ten largest transactions. A 30-day moving average at 0.47 means nearly half of every BTC deposit is a “whale” transaction.

This pattern played out during previous market cycles, such as mid-2022 and late 2024, when elevated whale activity coincided with significant corrections.

The implication is that large holders tend to move funds to exchanges in anticipation of selling, often at or near local peaks.

Bitcoin: Exchange Whale Ratio. Source: CryptoQuant.

In contrast, periods when the whale ratio dips below 0.35 have often marked phases of accumulation or early bull market momentum, dominated by retail participants.

One clear example is mid-2023, when the ratio hit a low point and Bitcoin began to climb steadily afterward.

“There is a growing dominance of large holders in recent exchange activity. This sharp increase mirrors the surge seen in the Exchange Whale Ratio during Bitcoin’s price rally in late 2023 and early 2024,” CryptoQuant analyst JA Maartunn told BeInCrypto.

The current spike in the 30-day moving average of the ratio further reinforces the notion that whales are once again becoming more active in exchange activity.

If history repeats, significant whale selling could trigger a pullback or increased volatility.

While Bitcoin price remains strong for now, this shift in behavioral dynamics suggests the market may be transitioning from accumulation to distribution, increasing the probability of a near-term top or correction.

Despite major bullish headlines, XRP is facing intense downside pressure, with the token down nearly 5% in the last 24 hours and 8.5% over the past week. Multiple EMA death crosses have also formed in recent days, reflecting the sustained weakness.

Even with announcements like a $300 million investment from a Chinese AI firm and a $121 million treasury raise led by Saudi-linked VivoPower, the technicals suggest sellers remain firmly in control for now.

XRP Enters Oversold Territory

XRP’s Relative Strength Index (RSI) has dropped significantly to 32.32, down from 48.68 just one day earlier—marking a sharp deterioration in short-term momentum.

This steep decline reflects intensified selling pressure, pushing XRP close to the oversold threshold without fully breaching it.

Interestingly, XRP’s RSI has not fallen below 30 since April 7, suggesting that while recent corrections have been sharp, they haven’t yet triggered the deeply oversold conditions seen during more severe market pullbacks.

The current reading near 30 indicates that XRP is nearing a potential exhaustion point in the downtrend. If buyers step in, the price could stabilize or attempt a rebound.

That bad momentum comes even after a Chinese AI Company announced it plans to invest up to $300 million in XRP, and after VivoPower raised $121 million for XRP Treasury backed by a Saudi Royal.

XRP RSI. Source: TradingView.

The RSI is a widely used momentum indicator ranging from 0 to 100, designed to measure the speed and magnitude of price movements. Readings above 70 typically indicate overbought conditions and potential for a price pullback, while readings below 30 signal oversold conditions and possible price recovery.

With XRP hovering just above that oversold threshold, the market is at a crossroads: further downside could push RSI below 30, attracting attention from technical traders anticipating a bounce.

At the same time, stabilization at current levels could prevent deeper losses.

Given that XRP hasn’t broken below 30 in nearly two months, a dip below that level now could trigger renewed volatility—either drawing in bargain hunters or accelerating bearish momentum if support levels fail to hold.

XRP DMI Signals Strong Bearish Trend as ADX Surges Above 34

XRP’s Directional Movement Index (DMI) reveals a significant shift in trend strength and momentum, with the ADX rising to 34.78, up from 27 just a day earlier.

The ADX, or Average Directional Index, measures the strength of a trend without indicating its direction—readings above 25 typically suggest a strong trend, and those above 30 indicate a very strong one.

The sharp increase in ADX confirms that the current trend is intensifying. However, the direction of that trend is made clear by the movement of the directional indicators: +DI has plunged to 8.57, while -DI has surged to 32.

XRP DMI. Source: TradingView.

This widening gap between the directional indicators highlights a strong bearish trend in play. The falling +DI means that bullish momentum is weakening rapidly, while the rising -DI shows that selling pressure is accelerating.

With -DI now significantly higher than +DI and the ADX confirming the strength of this move, XRP appears to be firmly in a downtrend.

Unless there’s a sudden reversal in buying interest, the current setup points to continued downside pressure in the near term, reinforcing what other indicators like the RSI have already signaled.

XRP Risks Dropping Below $2 as Bearish Momentum Builds

XRP’s exponential moving averages (EMAs) have flashed multiple death crosses in recent days, reflecting sustained downward pressure as the token struggles to regain traction below the $2.50 mark.

These bearish crossovers—where short-term EMAs fall below long-term EMAs—indicate a weakening trend and align with XRP’s recent inability to break back into bullish territory.

If the correction deepens, XRP could retest support at $2.07, and a failure to hold that level would open the door for a drop below $2, a price not seen since April 8. This would likely confirm a broader shift in market sentiment and potentially accelerate bearish momentum.

XRP Price Analysis. Source: TradingView.

Still, the outlook could shift if buyers regain control and XRP manages to reverse the trend. In that case, $2.26 stands out as a key resistance level; a successful breakout there could signal renewed strength and bring the next upside targets at $2.36, $2.47, and even $2.65 into focus.

These resistance levels would need to be cleared with convincing volume to invalidate the current bearish EMA structure.

Until then, the multiple death crosses serve as a warning that downward pressure remains dominant unless bulls stage a strong recovery.

President Trump is considering new sanctions on China’s tech industry, sparking a downturn in TradFi markets and $800 million in crypto liquidations. Tariff threats caused general chaos, and sanctions could reignite trouble.

Still, there might be a long-term silver lining in all this. De-dollarization is leading investors across Asia to invest in Bitcoin, and trade war escalation may pull capital away from the USD into crypto.

How Would Trump’s China Sanctions Affect Crypto?

Over the past few months, Trump’s tariffs have threatened a US-China trade war, bringing deleterious effects to the crypto market.

Derailed talks brought crashes, settled deals meant prosperity, and rumors had a powerful impact on the entire market. Unrelated to tariffs, Trump is reportedly considering sanctions on China, sending TradFi into panic:

Specifically, this sanctions plan aims at China’s growing tech industry, targeting subsidiaries of major conglomerates like Huawei or semiconductor manufacturers.

Bloomberg reported that these alleged sanctions won’t take place until June, but crypto immediately reacted. The whole market fell 5%, Bitcoin fell below $105,000, and total crypto liquidations reached $827 million.

Crypto Liquidation Heatmap. Source: Coinglass

Even before today’s sanctions news, markets remained wary of renewed tariffs and a cautious Federal Reserve. In early February, a similar sell-off saw Bitcoin slide 6 percent on fears of a trade-war-induced global slowdown.

Today’s actions reinforced those worries, triggering a slide in both equities and crypto.

China and the US settled their tariff negotiations less than a month ago, but the threat of new sanctions could reignite all the same recession fears.

Leading Chinese economists warn that this move may be a prelude to further trade wars, especially because the US is targeting China’s largest growth industries. There are clear reasons to be nervous about escalation.

For example, on May 29, the US already moved to broaden export controls on chip design software, certain chemicals, and industrial tools destined for China, revoking existing licenses and choking off key semiconductor inputs.

Heightened US-China tech friction spooked risk-asset investors, who view crypto as a volatile barometer of broader market sentiment.

Another round of economic saber-rattling will surely bring chaos, but could there be an upside for crypto? As the US economic policies turn increasingly erratic, de-dollarization is gaining traction in Asia.

As part of this trend, economies are shifting from the dollar towards assets like gold, the Chinese yuan, and cryptocurrency.

In other words, if the US sanctions China yet again, investors across the whole region might park their capital in Bitcoin instead of USD.

Still, this may be a marginal advantage, as the US is more integrated with crypto markets. There’s a lot of debate over how crypto would perform during a US recession, and it’s too early to have a definitive answer.

Hopefully, Trump will back down from additional China sanctions, just like he did with tariffs. If so, this could allow crypto markets to return to business as usual, as they’ve been exhibiting low volatility.

However, in the event of another trade war escalation, crypto may behave in some unexpected ways.

Zebec Network (ZBCN) has surged an impressive 440% over the past 30 days, making it one of the best-performing altcoins in the market. Despite the recent cooling in momentum indicators, ZBCN continues to hold bullish territory, supported by strong technical structures.

While short-term consolidation is possible, ZBCN is still positioned for potential upside continuation if resistance levels are cleared with conviction.

ZBCN Uptrend Still Holds

Zebec Network’s BBTrend indicator currently stands at 16.64, maintaining positive territory for the past 13 consecutive days—a sign of sustained bullish momentum.

Just three days ago, the BBTrend peaked at 53.9, indicating heightened volatility and strong directional strength at that time. While the current reading is significantly lower, it still reflects a continuation of upward trend conditions, albeit with a possible slowdown in momentum.

The fact that BBTrend remains above zero after nearly two weeks suggests the uptrend is intact, though bulls may be taking a breather after the recent surge. ZBCN is up more than 106% just in the last seven days, making it one of the best-performing altcoins of the last weeks.

ZBCN BBTrend. Source: TradingView.

The BBTrend, or Bollinger Band Trend, measures the strength and direction of price movements by analyzing the spread between the Bollinger Bands. When BBTrend is above zero, it typically indicates an uptrend, and the higher the value, the stronger the directional momentum.

A reading below zero would suggest bearish conditions. Zebec Network’s BBTrend at 16.64 implies that the asset is still in bullish territory, but with reduced strength compared to earlier in the week.

If the BBTrend continues to decline, it could signal trend exhaustion or a potential consolidation phase before the next major move. Conversely, a rebound would confirm that bullish pressure is rebuilding.

ZBCN Bullish Momentum Slows, but Downside Pressure Still Minimal

Zebec Network’s DMI chart reveals that its ADX is currently at 45, indicating a strong trend, though slightly down from the 57.9 peak recorded three days ago.

After a drop to 38.2 two days ago, the ADX has stabilized, suggesting that while the strength of the trend may have cooled from its peak, it remains firmly intact.

The ADX, or Average Directional Index, measures the strength of a trend regardless of direction—values above 25 signal a strong trend, and readings above 40 indicate very strong trend momentum.

Zebec’s current ADX reading of 45 implies that the ongoing trend still has significant traction in the market.

ZBCN DMI. Source: TradingView.

Supporting that trend bias, the +DI line—which tracks bullish momentum—is at 25, though it has slipped from 35.8 the day before. Meanwhile, the -DI remains low at 9.7, virtually unchanged from yesterday, showing that bearish pressure remains minimal.

The combination of a strong ADX and a +DI that still significantly outweighs the -DI suggests that Zebec Network’s price may remain in an uptrend, even if bullish intensity has temporarily cooled.

If +DI stabilizes or begins to climb again, it could indicate that buyers are regaining strength; however, if it continues to fall while ADX declines, it might signal a potential shift toward consolidation or a weakening of bullish momentum.

Zebec Network EMA Structure Remains Bullish as Price Eyes Breakout

Zebec Network’s EMA structure is currently strongly bullish, with short-term moving averages positioned well above the long-term ones and a noticeable gap between them—an indication of strong upward momentum.

This setup reflects consistent buying pressure and trend strength, suggesting bulls are firmly in control.

If ZBCN can push through resistance at $0.0069, it could pave the way for a breakout toward $0.0080, marking fresh all-time highs and confirming continued bullish dominance in the market.

ZBCN Price Analysis. Source: TradingView.

However, a shift in sentiment could bring downside risk into play. If support at $0.00536 is tested and fails to hold, it could trigger a deeper correction, sending ZBCN down to $0.00384.

In the event of sustained bearish pressure, the price could fall further toward $0.00196, with an extended move possibly reaching $0.00146.

Trump Media announced that it closed a deal to sell vast quantities of stock to purchase over $2.3 billion worth of Bitcoin. This would make his company one of the world’s largest BTC holders.

The company’s stock valuation rallied following the announcement, but it might also invite political blowback to the crypto industry. For better or worse, the President’s personal brand is getting associated with Bitcoin in a major way.

Trump Media Buys Bitcoin

President Trump has embarked on a lot of crypto ventures, but his company’s next plan might transform the whole industry. Rumors began earlier this week that Trump Media was planning to buy Bitcoin, and the company confirmed them.

Today, a new press release revealed that progress has happened sooner than expected and that a deal has been finalized:

“Trump Media announced today that it has closed its previously announced private placement offering with approximately 50 institutional investors. The offering consisted of [stock sales] with an aggregate purchase price of approximately $2.44 billion. Trump Media will use the approximately $2.32 billion in net proceeds from the offering to create a Bitcoin treasury,” it read.

Since MicroStrategy began leading the way, more and more companies are becoming major BTC holders. Shortly after the 2024 election, Peter Schiff mockingly suggested that Trump Media should buy Bitcoin, but it looks like this remark is coming true.

To be clear, the press release leaves a little wiggle room, and 100% of proceeds might not go to this reserve. Still, the third-largest corporate BTC holder, Riot, has less than $2 billion of the token.

If Trump Media commits to this Bitcoin acquisition, it would immediately have a bigger reserve than any firm except Marathon or MicroStrategy.

Since Trump Media made this Bitcoin announcement, its stock price has jumped around 4%. Bitcoin has been doing well lately, exhibiting consistent gains that reduced its volatility in the last 90 days.

By buying in now, Trump’s private business is further committing to an industry that’s been a centerpiece of his political administration.

Trump Media Stock Price. Source: Yahoo Finance

Of course, Trump Media has also experienced its fair share of controversies, and this purchase might represent a conflict of interest. Crypto already accounts for a huge chunk of Trump’s net worth, which has invited a lot of criticism.

This purchase will further tie the Bitcoin ecosystem to Trump’s personal brand, which may not be advantageous forever.

With the month of May coming to an end, and that too on a weekend, there is a good chance that the market could see considerable volatility. As June starts this Sunday, altcoins could see sharp rises or declines if the market shifts.

Thus, BeInCrypto has analysed three such crypto tokens for the investors to watch this weekend and whether they should prepare for a rally or a correction.

Sui (SUI)

SUI has dropped nearly 11% in the past 24 hours, trading at $3.46. The altcoin’s decline follows broader market trends but may worsen this weekend due to internal factors specific to SUI.

A major event looming is the scheduled unlock of 44 million SUI tokens on June 1, releasing $151 million into the market. This new supply could disrupt the balance between demand and supply, often leading to downward pressure on prices. SUI may face a notable price impact.

SUI Price Analysis. Source: TradingView

SUI’s price nearly touched $3.33 support during intraday lows and may revisit it soon. However, if positive market volatility returns and SUI regains $3.48 support, a rebound to $3.69 is possible, which would invalidate the current bearish outlook and signal recovery.

Virtuals Protocol (VIRTUAL)

VIRTUAL has experienced a decline over the past three days but continues its uptrend observed this month. This suggests a likely price reversal over the weekend as investors regain confidence in the altcoin’s potential to rise, despite short-term setbacks.

The RSI remains in the positive zone, above the neutral mark, supporting bullish momentum for VIRTUAL. This momentum could help the altcoin secure $2.45 as a support level, potentially pushing the price toward $2.99 and eventually reaching the $3.00 mark.

VIRTUAL Price Analysis. Source: TradingView

However, if the broader market experiences a correction, VIRTUAL could also face downward pressure. Losing the critical support of $1.93 would invalidate the bullish thesis and possibly trigger a short-term price decline.

SPX6900 (SPX)

SPX is among the best-performing meme coins and altcoins, rising 23.6% over the past week. This uptrend pushed the price above $1.00, with SPX currently trading at $1.10, showing strong momentum in a volatile market.

As a meme coin, SPX faces high volatility. However, the EMAs are forming a Golden Cross, signaling a potential rally. This technical pattern could sustain the uptrend and push SPX past the $1.23 resistance level.

SPX Price Analysis. Source: TradingView

Profit-taking by investors could lead to a fallback toward or below $1.00. Such a move would invalidate the short-term bullish thesis and signal caution among traders in the meme coin’s near-term outlook.

Zoltan Istvan, a figurehead of the Transhumanist party in the United States, currently running for California governor, believes that politicians aren’t nearly as worried about the threat of artificial intelligence as they should be. If guardrails aren’t implemented to curb AI’s potential power, the two-time presidential candidate believes humanity might be at risk.

BeInCrypto sat down with Istvan to discuss these threats and how he envisions a world where humans and robots coexist. The California native also talked about his plans if elected and the value he sees in blockchain technology to curb bureaucracy.

From Immortality to AI Concerns

Zoltan Istvan is an outsider to the traditional political scene in the United States. He describes himself as a libertarian but considers universal basic income necessary for social harmony. Istvan believes that, soon enough, science will find a way to reverse aging and achieve human immortality.

He also founded his political party based on the philosophy of transhumanism. Through this platform, Istvan advocates for the widespread development and availability of new and future technologies to significantly improve human longevity and overall well-being.

More recently, however, Istvan temporarily set aside his focus on longevity. Instead, a stronger sense of moral duty compelled him to run for California governor: to warn Americans about the dire threat artificial intelligence could pose once it achieves cognitive superiority over humans.

Is Superintelligence an Existential Threat?

Artificial intelligence has grown exponentially in recent years, with some figures, like Elon Musk, predicting that superintelligence could arrive as early as 2026. For Istvan, this poses a major problem for civilization.

“Today, I would say that the greatest challenge humanity faces and the one we must deal with is making sure that artificial intelligence remains beneficial to us and doesn’t become a super intelligence that we cannot control,” he told BeInCrypto. 

His reasoning for this varies, but among his primary concerns is the fear that humanoids could reproduce, overpower humans, and accumulate more wealth than all humanity combined.

Despite this looming reality, Istvan is disappointed that AI’s rapid pace of development isn’t a more prominent topic on the political agenda.

“Nobody wants to talk about AI. When you talk about winning votes, nobody wants to hear a problem that can’t be solved. Nobody wants to hear that 99 percent of jobs will potentially be lost to automation and robots within five, ten years time. This is not a winning strategy for a politician,” he said. 

Nonetheless, these problems need potential solutions. Istvan has some in mind.

Who Controls AI’s Future?

One major concern about AI’s exponential growth is the concentrated power that the corporations developing it hold over its future.

“Really only billionaires own AI with their companies and that’s a scary thing. Some people like Ben Goertzel argue that if we decentralize, then maybe we’ll have a better chance of having an AI that’s nicer to us if it becomes a superintelligence,” Isvtan told BeInCrypto.

However, regulations are needed for a more effective approach. If they’re collaborative, even better.

“I think the other way to do it is just to try to create guardrails. Governments around the world, maybe [the] United States, China and Russia –the countries that are leading AI development– can kind of get together and say, listen, we need to be very careful how we do this. We can’t just let the super intelligence be born and then we wait for the consequences,” Istvan added.

However, he recognized that the chances of this happening are slim. Because of this, it’s up to the United States to take matters into its own hands. 

A good way of getting there is by creating awareness of this threat, especially from a position of power.

Governing the New Automation Era

If Istvan were elected as California’s next governor, the first few policy changes he would enact would effectively work towards establishing guardrails to avoid the detrimental effects of rapid AI development.

In his view, AI’s efficiency will profoundly affect humanity by causing widespread job losses, even among highly educated individuals.

“AI is going to make it so those super smart people that have PhDs and master’s degrees can’t just find another job. So if the very smartest of us cannot find jobs, then definitely the middle and lower classes are not going to be able to find jobs. So if that happens, no one’s gonna be able to find jobs. We’re facing this job apocalypse,” Istvan told BeInCrypto.

A key solution to address this problem, particularly in reducing extreme poverty, involves establishing a universal basic income as a financial safety net for everyone.

“I’m willing to consider any universal basic income. If a company takes a job with the robots from somebody, that company either has to figure out a way to support that human being or support the government in a way that we can support that human being. That might involve giving shares of the company [or] that might involve just cash payouts,” Istvan added.

He also circled back to the basic principles of transhumanism. Istvan argued that the same efficiency that threatens humanity could also be used to improve human life.

Will Robots Simplify Daily Life?

Many of the tedious tasks that humans face daily detract from the quality time they could spend doing something else.

Istvan believes that superintelligence can eliminate these chores. If elected governor, he plans to deliver on this promise.

“We have promised to put into every California household a humanoid robot that can clean and cook and do chores, wash your children, walk the dog or whatever it is, but something that can take 10 hours of your life and give it back to you,” he said, adding, “That way the AI age means something to you. It’s not just [that] you lost your job or it’s becoming more challenging to work. It’s like your life is more leisurely. You can go to your kid’s baseball game. You can go to your daughter’s soccer game.”

Istvan applied his vision of using technology to improve human life in other areas, including the significant bureaucracy often found at the administrative level. 

In these situations, he argues that humanoid robots aren’t even necessary. Instead, existing technologies, particularly blockchain, can reduce much of the backlog.

The Digital Future of Public Services

Though many basic governmental services have become digital since the dawn of the Internet, some still rely on paper processes and human analysis. This can often produce situations fertile for error. 

Istvan used the American voting system as an illustration.

“Here in the United States, we have this big issue. Trump says that Biden stole votes in the former election. And then this time, the Democrats say that Trump stole vote. Nobody’s really sure what’s happening because a lot of it is paper, and paper relies on millions of human beings to count it. If that person counting it has a bias to cheat, they may cheat,” he said.

Blockchain technology can address this issue. A distributed ledger system can make the voting process fraud-free and simplify other frequently used services.

“If we could convert not only the voting system, but everything from titling and marriage certificates, passports, it would literally make our world 30 to 50% more efficient, including eliminating fraud across the board, which costs billions of dollars, no matter which industry it is. This is why I think blockchain is a really big win-win for everyone,” Istvan explained.

Istvan’s perspective highlights a critical paradox that is evident today. On one hand, he argues that technology isn’t being fully utilized to streamline essential services and enhance human life. 

On the other hand, he warns that certain sectors are accelerating technological development, particularly AI, at an exponential rate with insufficient safeguards, potentially leading to long-term harm.

The balance struck between these two extremes will be crucial for humanity’s future trajectory.

Cryptocurrency has attracted the ambitious, the bold, and the risk-takers—those willing to bet everything for the chance at unimaginable wealth. But how much ambition is too much? 

For some of the industry’s biggest names, the quest for dominance led them from luxury to legal troubles, with their rapid ascent followed by an equally swift downfall. Their stories now stand as cautionary tales of ambition gone awry. So, here’s a look at the fall of three crypto kings:

Sam Bankman-Fried

Sam Bankman-Fried, or SBF, was once considered the modern-day J.P. Morgan. At his peak, he was estimated to be worth $26.5 billion and lived in a $30 million Bahamas penthouse. However, today, Bankman-Fried finds himself spending his time in a low-security federal prison in San Pedro, California.

SBF was born on March 6, 1992. He graduated from the Massachusetts Institute of Technology (MIT) with a physics degree and a mathematics minor. In 2014, he joined Jane Street Capital, a quantitative trading firm, where he focused on arbitrage trading, particularly in exchange-traded funds (ETFs). Three years later, he left the firm as he dipped his toes in crypto. 

He began by buying Bitcoin in the US and selling it for a profit in Asian markets. In September 2017, he founded Alameda Research, recruiting a small team. 

In 2019, SBF launched the FTX cryptocurrency exchange, turning it into a global powerhouse within two years. By 2021, FTX had moved to the Bahamas, and Bankman-Fried was a billionaire.

“As of 11:30 am Thursday morning, he is the 25th richest person in America and the 64th richest person in the world, according to Forbes. Only Mark Zuckerberg, who hit $28.5 billion at age 29, has been richer at this young age,” Forbes wrote on October 21, 2021.

The facade crumbled in November 2022 when FTX filed for bankruptcy. An estimated $8.7 billion in customer funds was discovered to be missing.

It was revealed that FTX had used customer deposits to fund risky bets through its sister company, Alameda Research, violating basic principles of financial safety and transparency. 

In December 2022, local authorities arrested the crypto king Bankman-Fried in his Bahamas penthouse and extradited him to the US. In January 2023, Bankman-Fried entered a not-guilty plea to the charges. 

However, on March 28, 2024, he was sentenced to 25 years in prison on seven counts of fraud and conspiracy.

“Samuel Bankman-Fried, also known as SBF, 32, of Stanford, California, was sentenced today to 25 years in prison, three years of supervised release, and ordered to pay $11 billion in forfeiture for his orchestration of multiple fraudulent schemes,” the DOJ noted.

Despite the conviction, SBF’s hopes of getting out have not died down. In 2025, the once-crypto king started appealing to President Trump for a pardon. This was quite ironic, given that SBF was the second-largest donor to the Democratic Party in the 2020 election.

The pardon efforts have yet to yield anything. Nevertheless, Business Insider revealed earlier this week that SBF could be released from prison in December 2044.

“While the BOP does not comment on specific inmates’ conditions of confinement, a spokesman told Business Insider that release dates are calculated by considering projected ‘Good Conduct Time.’ Qualifying people serving prison time are eligible to earn 54 days for each year of their sentence,” the article read.

Aiden Pleterski 

Aiden Pleterski, a 26-year-old from Ontario, Canada, gained notoriety as the self-proclaimed “Crypto King.” He kicked off his crypto journey in high school, trading digital coins for video game perks. 

By 2020, Pleterski was deep. By 2021, he’d upgraded to a multi-million-dollar mansion in Burlington, Ontario. His parents also chipped in CAD50,000 and got luxury cars in return, signaling his early success.

“Mr Pleterski gave his parents a return on their investment, they said, in addition to luxury gifts – a McLaren 60LT and BMW M8 for his dad, a Louis Vuitton bag and Burberry coat for his mother, and a 2017 Bentley Bentayga for the couple’s wedding anniversary,” BBC reported.

Pleterski lived large and loud. His Instagram flaunted private jets, exotic getaways, and a garage full of luxury cars. It was a teenage dream turned millionaire fantasy—until it wasn’t.

Between 2021 and 2022, Pleterski and his company, AP Private Equity Ltd., reportedly raised CAD 41.5 million ($30.5 million) from investors by promising high returns through cryptocurrency and foreign exchange investments.

Problems started to arise in 2022 when lawsuits accused him of misappropriating funds. The Ontario Superior Court froze his assets in July and declared him and his company bankrupt by August. 

Reports indicated that Pleterski only invested about 1.6% of the investor funds. Meanwhile, he allegedly spent at least CAD 16 million on luxury cars, private jet travel, and a lakefront mansion.

Then came the shocking turn of events. In December 2022, he was reportedly kidnapped and held for ransom for days. During this time, Pleterski was allegedly beaten and tortured. Additionally, his captors demanded a CAD 3 million ransom from his landlord. 

CBC obtained a video of Pleterski, appearing bruised and apologetic. Pleterski’s father testified that his son was freed after agreeing to quickly provide money to his kidnappers and not to involve the police.

“He was taken. They basically held him for approximately three days, drove him around different, various parts of southern Ontario, beat him, tortured him, allowed him to make specific phone calls to specific people only. I was not one of those people that he was allowed to contact,” Pleterski’s father stated.

On May 14, 2024, police arrested Pleterski on fraud charges. However, his parents posted a CAD 100,000 bail and released him.

“Mr. Pleterski has been charged with one count of fraud over $5,000 contrary to Section 380(1)(a) of the Criminal Code, and one count of laundering proceeds of Canadian crime contrary to Section 462.31(1)(a) of the Criminal Code. The allegations involving Mr. Pleterski are covered by a publication ban issued on May 14, 2024 pursuant to subsection 517(1) of the Criminal Code,” the Ontario Securities Commission wrote.

The crypto king now faces up to 14 years in prison if convicted.

Alex Mashinsky

Alex Mashinsky was a serial entrepreneur who founded Celsius Network in 2017. It was a borrowing and lending platform for digital assets. He cultivated quite an image with “Banks are not your friends” T-shirts and “Ask Mashinsky Anything” YouTube streams. 

During the pandemic, Celsius gained popularity by offering loans and high interest rates on crypto deposits. Mashinsky touted Celsius as an alternative to banks that benefits users.

“I personally have over $160 million worth of my assets on Celsius right next to yours. So if you have bitcoin, I have bitcoin right next to you, earning exactly the same amount of interest. I earn 6 per cent, you earn 6 per cent, right. So we don’t treat anyone differently no matter how big they are. And that’s really the beauty,” Mashinsky told BeInCrypto in an exclusive interview.

By March 2021, Celsius had exceeded $10 billion in digital assets. However, the rise came to a halt in 2022. In April, Celsius announced it would hold non-accredited investors’ coins in custody, halting new deposits and rewards.

The situation deteriorated with the Terra Luna collapse, which triggered a market-wide sell-off and exacerbated Celsius’s liquidity issues. In June, it paused customer withdrawals and filed for bankruptcy in July. A court filing revealed Celsius had a $1.2 billion hole in its balance sheet.

In September, Mashinsky stepped down as CEO. Moreover, a Statement of Financial Affairs filed by Celsius showed that he had withdrawn $10 million from the company in May 2022.

He faced a series of charges from the US Government, Department of Justice (DOJ), the US Securities and Exchange Commission, and the US Commodity Futures Trading Commission, as well as a lawsuit from New York Attorney General Letitia James.

In July 2023, Mashinsky was indicted on seven counts of fraud, conspiracy, and market manipulation charges and arrested. In December 2024, he pleaded guilty to two counts.

On May 8, 2025, he was sentenced to 12 years in prison. In addition, the court ordered Mashinsky to forfeit $48.39 million.

“Alexander Mashinsky targeted retail investors with promises that he would keep their ‘digital assets’ safer than a bank, when in fact he used those assets to place risky bets and to line his own pockets. In the end, Mashinsky made tens of millions of dollars while his customers lost billions. America’s investors deserve better,” US Attorney Jay Clayton remarked.

Thus, these sagas reveal the double-edged sword of cryptocurrency. With the massive downfall, these crypto kings remind us that in the race for riches, ruin can come just as fast.

Crypto US stocks had a mixed session yesterday, with Strategy (MSTR) the only name closing in the green, while GameStop (GME) and Coinbase (COIN) posted further losses. MSTR rose 1.75% after Arkham uncovered over 70,000 previously unidentified Bitcoin linked to the firm, reinforcing its dominance as the largest corporate BTC holder.

GME dropped another 5.25% following investor backlash to its $500 million Bitcoin purchase, which many see as a risky pivot amid weak core fundamentals. COIN slid 2.14% despite launching 24/7 XRP and SOL futures, as concerns linger over a recent $400 million data breach.

Strategy Incorporated (MSTR)

Strategy (formerly MicroStrategy) was the only major U.S. crypto stock to close in the green yesterday, rising 1.75% while the broader market dipped.

The move comes just days after Arkham Intelligence revealed 70,816 previously unreported Bitcoin held by the firm, boosting its estimated total to 525,047 BTC—worth over $54.5 billion. This challenges Executive Chairman Michael Saylor’s public stance on wallet privacy and brings renewed focus to Strategy’s vast influence on Bitcoin markets.

The revelation follows a separate purchase of 4,020 BTC earlier in the week, bringing Strategy’s disclosed holdings to 580,250 BTC and cementing its role as the world’s largest corporate holder of Bitcoin.

MSTR Price Analysis. Source: TradingView.

Technically, MSTR has held firm above key support at $362 and is now eyeing resistance at $383. If current momentum sustains, a breakout could trigger a stronger rally in the short term.

In the pre-market today, MSTR is down a modest 0.13%, suggesting minor consolidation after recent gains.

According to TradingView, analysts remain bullish on the stock’s long-term outlook. 15 forecasts point to a 42.4% upside over the next year and a consensus price target of $527.

GameStop Corp (GME)

GameStop’s latest pivot into Bitcoin has triggered another wave of investor skepticism, sending shares into a sharp decline. The company confirmed it had purchased 4,710 BTC—worth roughly $500 million—as part of its broader plan to eventually allocate $1.3 billion to the cryptocurrency.

Despite the move being framed as a strategy to enhance liquidity and optimize returns, the market reaction has been overwhelmingly negative.

Analysts questioned the logic of mimicking MicroStrategy’s Bitcoin-heavy approach without a strong core business to support it.

GME Price Analysis. Source: TradingView.

Technically, GME is under pressure and currently testing key support at $29.38. If this level fails to hold, the next downside target sits near $25.65, suggesting more pain could follow if bearish momentum continues.

The stock closed down 5.25% yesterday and is already down another 1.49% in the pre-market.

Despite retail investor loyalty, Wall Street remains unconvinced by GameStop’s strategic shift, especially given its declining sales—down 28% year-over-year—and a weakening used-game market that was once its main revenue stream.

Coinbase Global (COIN)

Coinbase has expanded its institutional offerings by enabling 24/7 futures trading for XRP, Solana (SOL), and Cardano (ADA), a move that aligns with its broader strategy to compete in both crypto and traditional finance markets.

Previously, around-the-clock trading was only available for Bitcoin and Ethereum futures. This marks a significant step as Coinbase also ventures into commodity and equity index futures, signaling its ambition to evolve into a full-spectrum derivatives platform.

However, the positive momentum from this announcement has been overshadowed by fallout from a massive $400 million data breach tied to outsourced customer support agents, raising serious concerns about operational security.

COIN Price Analysis. Source: TradingView.

On the technical side, COIN closed yesterday down 2.14% and is currently down another 0.98% in pre-market trading. The stock is approaching critical support at $240; a breakdown below this level could trigger further downside toward $223.60.

Conversely, if the trend reverses, COIN may test resistance at $257, with a potential breakout pushing it to $270.45.

Despite recent headwinds, sentiment among analysts remains cautiously optimistic: 26 forecasts project an average 8.36% upside over the next year with a target of $269.65. Out of 32 analysts, 13 rate COIN a “Strong Buy,” while 16 recommend holding the stock.

Geopolitical tensions and shifting trade dynamics are pushing Asian nations toward gold, yuan, and crypto.

Bitcoin increasingly benefits from Asia’s accelerating shift away from the US dollar, as geopolitical tensions, trade weaponization, and financial instability prompt a monetary realignment. 

Bitcoin, Gold Gains Ground as Asia De-Dollarizes Fast

Alongside gold and the Chinese yuan, Bitcoin (BTC) is emerging as a key asset in a broader de-dollarisation push across Asia. According to experts, this trend reflects the move toward a multipolar financial order.

More closely, a growing number of Asian economies, including Singapore, Indonesia, Japan, and India, are reducing their dependence on dollar-denominated assets. 

According to local media, countries are building bilateral trade agreements and prioritizing local currencies. They are also increasing allocations to alternative stores of value like gold and Bitcoin.

“The US dollar, or rather treasuries have normally been seen as the global reserve asset. That has changed in the last few months with bond yields rising and gold and Bitcoin outperforming,” SCMP reported, citing Saad Ahmed, head of Asia-Pacific at global crypto platform Gemini.

The Gemini executive noted that Bitcoin is increasingly seen as a complementary hedge to gold. This is particularly true among younger and institutional investors skeptical of the dollar’s long-term dominance. 

“It’s not necessarily a rejection of the dollar, but a recognition that it’s smart to spread risk,” he added.

Following US sanctions on Russia and Iran, and the weaponization of the dollar in global diplomacy, many Asian central banks and investors are exploring digital alternatives. Among them is Pakistan, which is weighing a Bitcoin strategic reserve. 

For other Asian countries, the digital alternatives extend beyond Bitcoin, including stablecoins and central bank digital currencies (CBDCs). While CBDCs remain a more significant focus for actual cross-border use, Bitcoin’s role as a store of value continues to expand. This is especially true in regions like Hong Kong and Singapore.

Gold, a long-standing safe haven, has gained 26% in 2025. It reached a record high of $3,450 an ounce in April. This surge came amid fears over US-China trade tensions. Bitcoin has also rallied, hitting an all-time high above $111,000 on May 21. Bullish sentiment around increased institutional participation drove the surge.

Bitcoin and Gold price performances. Source: TradingView

Trump’s recent comments on Truth Social echo the growing unpredictability of US trade policy. He claimed credit for halting China’s economic collapse by easing tariffs, then accused Beijing of violating the deal. 

“We went, in effect, COLD TURKEY with China… I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation… China… HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,” he wrote on Truth Social.

This uncertainty drives nations like Indonesia to conduct 15% of their trade with China. Japan is also looking toward alternative currencies like the yuan and rupiah. 

India has signed similar deals using the rupee with 18 countries. Local currency settlements and regional frameworks like ASEAN are gaining momentum as viable buffers against dollar risk.

“Asian de-dollarisation represents a gradual shift towards a multipolar monetary system rather than simple currency substitution,” said Ben Charoenwong, associate professor at INSEAD. 

Meanwhile, Bitcoin’s role remains niche in trade, and its position as a hedge against dollar volatility continues to grow.

With gold and Bitcoin both outperforming in 2025 and young investors driving adoption, Asia’s pivot away from the dollar may be setting the stage for a new era of diversified reserve strategies. In such a shift, Bitcoin may no longer sit on the periphery.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee as we continue to examine what Bitcoin (BTC) could be for Ireland amid global economic uncertainty. For the island in Europe, El Salvador’s achievements under President Nayib Bukele continue to serve as an example to emulate, at least according to MMA star Conor McGregor.

Crypto News of the Day: Conor McGregor’s Bitcoin Blueprint for a Sovereign Ireland

In a recent US Crypto News publication, BeInCrypto reported McGregor’s interest in having Ireland create a Bitcoin strategic reserve. 

Specifically, he wants the country to adopt El Salvador’s successful adoption of Bitcoin, replicating Bukele’s Bitcoin strategy. McGregor sees this as an enabler to eliminate financial corruption in Ireland and secure long-term stability.

“An Irish Bitcoin strategic reserve will give power to the people’s money,” McGregor said on X.

In the latest development, the Irish presidential hopeful has proposed using Bitcoin to establish a decentralized blueprint for Ireland’s sovereignty. 

The former UFC champion lauded El Salvador’s Bukele for his transformative achievements, particularly his adoption of Bitcoin as legal tender. 

McGregor aims to mirror Bukele’s success, slashing El Salvador’s crime and corruption rates. To do this, he seeks to leverage Bitcoin to empower the Irish people and reclaim national autonomy. 

McGregor, who announced his presidential bid in March 2025, invited Bukele for a discussion.

However, McGregor’s use of “crypto” instead of “Bitcoin” drew sharp feedback from supporters on X (Twitter).

Meanwhile, as the presidential hopeful eyes Bitcoin in Ireland, elsewhere, Panama and El Salvador advocate for Bitcoin adoption in Latin America. 

Speaking at the Bitcoin Conference, Panama City mayor Mayer Mizrachi called for a Panama–El Salvador alliance to lead global financial freedom using Bitcoin.

“Panama and El Salvador are pushing Bitcoin adoption in latin america,” Mizrachi shared on X.

US Bank Earnings Tick Up, But FDIC Warns of CRE Weakness—What It Means for Bitcoin

Elsewhere, the FDIC (Federal Deposit Insurance Corporation) report shows the US banking sector posted a modest earnings rebound in Q1 2025. 

FDIC-insured institutions reported a net income of $70.6 billion and a return on assets (ROA) of 1.16%, up from 1.11% in Q4 2024. 

However, beneath the surface, growing stress in commercial real estate (CRE) portfolios has caught the attention of regulators and crypto investors alike. 

US Banks Face $413 Billion in Unrealized Losses by Q1 2025. Source: Barchart on X

The FDIC’s Quarterly Banking Profile flagged continued weakness in non-owner-occupied CRE loans. Past-due and nonaccrual (PDNA) rates are climbing sharply.

Large banks with over $250 billion in assets reported a CRE PDNA rate of 4.65%, far above the pre-pandemic average of 0.59%. 

Although these banks are less exposed to CRE than their total assets, mid-sized institutions with higher CRE concentrations are increasingly vulnerable.

This structural pressure comes amid tight credit conditions, high interest rates, and elevated unrealized losses on securities portfolios. If broader economic stress escalates, these factors risk constraining lending and liquidity.

Implications for Crypto

CRE stress may signal both risk and opportunity for Bitcoin and digital assets. Should CRE-linked defaults ripple through mid-sized banks, investor confidence in the traditional financial (TradFi) system could weaken.

Such an outcome could catalyze a flight to decentralized alternatives like Bitcoin, similar to the March 2023 banking turmoil.

Moreover, persistent stress in banks’ long-duration assets may revive speculation around rate cuts or liquidity backstops. These macro shifts are historically bullish for crypto markets. 

With unrealized losses on securities still hovering near $413 billion, any future sell-off could accelerate a policy pivot.

In short, while headline bank earnings suggest resilience, mounting CRE risks could reopen the playbook for Bitcoin’s “safe haven” narrative, especially if financial cracks widen.

Signs are already manifesting, with Bitcoin held by ETFs (exchange-traded funds) and public companies going parabolic.

Specifically, Bitcoin’s institutional stack is soaring, with BlackRock’s ETF holding over 663,000 BTC. In the same way, MicroStrategy is also stacking. 

Chart of the Day

Bitcoin held by ETFs and public companies. Source: Bitcoin Archive on X Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

Meme coins seem to be finding investors even amid short-term market conditions that are wavering. While Bitcoin slipped below $105,000 during the intra-day low, Gigachad managed to post a 17% rise.

BeInCrypto has analysed two more meme coins for investors to watch as May ends.

Gigachad (GIGA)

Launch Date – March 2024

Total Circulating Supply – 9.60 Billion GIGA

Maximum Supply – 10 Billion GIGA

Fully Diluted Valuation (FDV) – $251.79 Million

Contract Address – 63LfDmNb3MQ8mw9MtZ2To9bEA2M71kZUUGq5tiJxcqj9

GIGA has emerged as a top-performing meme coin, rising 17% in the last 24 hours. Currently trading at $0.0259, it is working to secure this local support amid increased market activity.

The continuation of GIGA’s upward movement depends heavily on weekend market trends. Sustained bullish momentum could push the altcoin’s price toward $0.0292 and potentially higher levels.

GIGA Price Analysis. Source: TradingView

However, bearish shifts in broader market cues could cause GIGA to break its support level. A fall to $0.0221 would invalidate the current bullish outlook and signal increased selling pressure.

BUILDon (B)

Launch Date – May 2025

Total Circulating Supply – 1 Billion B

Maximum Supply – 1 Billion B

Fully Diluted Valuation (FDV) – $395.37 Million

Contract Address – 0x6bdcce4a559076e37755a78ce0c06214e59e4444

B has emerged as one of the top-performing meme coins this month, surging 1,153% since its launch. Currently, the altcoin trades at $0.396, drawing significant attention from its 36,440 investors eager to capitalize on its rapid growth.

Given its exceptional rise, B is poised for further gains. If bullish momentum continues, attracting more buyers and driving price increases, a new all-time high above $0.465 seems attainable.

B Price Analysis. Source: TradingView

While selling pressure appears limited, any profit-taking could push B below its $0.311 support. A drop to $0.118 would invalidate the bullish thesis and signal a potential trend reversal for this meme coin.

Small Cap Corner – PepeCoin (PEPECOIN)

Launch Date – May 2024

Total Circulating Supply – 92.67 Million PEPECOIN

Maximum Supply – 133.76 Million PEPECOIN

Fully Diluted Valuation (FDV) – $43.51 Million

Contract Address – 0xa9e8acf069c58aec8825542845fd754e41a9489a

PEPECOIN is outperforming many altcoins, rising 9.2% during the last 24 hours, currently trading at $0.403. Despite recent gains, the altcoin trades cautiously as investors watch for sustained momentum.

Earlier this month, PEPECOIN suffered a 39% loss, followed by a 19% drop in four days. Securing $0.408 as support could help the meme coin climb to $0.460, regaining much of its recent decline.

PEPECOIN Price Analysis. Source: TradingView

However, if bearish pressure intensifies, PEPECOIN might fail to surpass $0.403. This could lead to consolidation between $0.351 and $0.367, undermining the current bullish outlook.

Several stories made headlines this week in crypto, spanning various ecosystems. The crypto market was very eventful this week, from high-stakes trading blowups to billion-dollar Bitcoin buys.

BeInCrypto covered them all, including implications for ecosystem-specific tokens. The following is a roundup in case you missed it.

James Wynn’s $12 Million Liquidation Spiral on Hyperliquid

James Wynn, once hailed as a meme coin maestro, is now grappling with one of the most public crypto trading blowups in recent memory. 

Wynn stacked an oversized position on perp DEX Hyperliquid this week in crypto. However, in a shocking turn, Wynn is down more than $12 million. 

Arkham Intelligence is tracking his desperate effort to reduce a $750 million long position by half to avoid liquidation. 

Arkham noted that he incurred a $4.7 million loss within 12 hours and is now within $1,000 of getting liquidated completely.

“One thing for sure is that I have exposed just how corrupt these markets are. Guess it’s better to just buy and hold $BTC on spot / cold storage it,” Wynn vented in a post. 

GameStop Goes Full Bitcoin with Surprise $512 Million Treasury Bet

Another headline topic this week in crypto was GameStop, which stunned markets by revealing it had quietly purchased 4,710 BTC. The purchase, worth approximately $512 million, turned the meme stock darling into a full-fledged Bitcoin treasury play. 

“This 4,710 Bitcoin purchase make GameStop the 13th public company with the most Bitcoin in the world,” an analyst posted on X.

The move follows the company’s $933 million stock sale. It signals a surprising pivot into hard assets amid rising inflation and volatile equity markets.

The decision echoes the playbook of early Bitcoin corporate adopters like MicroStrategy (now Strategy). However, GameStop’s retail-heavy investor base and meme stock legacy give this move a cultural twist. 

Analysts say the buy could reignite GME stock and Bitcoin interest among retail investors. These two forces famously collided during the 2021 bull market.

GameStop’s bet may also indicate fiat-based balance sheets. As traditional markets waver and distrust in institutions builds, the company’s adoption of BTC adds weight to the growing Bitcoin as corporate treasury thesis.

Circle Files for IPO Again as Stablecoin Markets Heat Up

Circle, the issuer of the $60.5 billion USDC stablecoin, officially filed for an IPO this week. It follows a previous attempt via SPAC, but the initial interest was delayed amid market turmoil.  

“Circle is offering 9,600,000 shares of Class A common stock and the selling stockholders are offering 14,400,000 shares of Class A common stock,” Circle said in an announcement on Tuesday.

Stablecoin issuers by market capitalization. Source: DefiLlama

The IPO filing comes as the company takes a traditional route, aiming to become the first major stablecoin issuer to go public in the US equity markets.

The timing is strategic. It comes at a time when the stablecoin market is under heightened scrutiny, with US lawmakers pushing for clearer regulation. 

Competitors like Tether are gaining market share. Circle’s transparency-first approach, publishing reserves, and pushing for regulatory clarity could make it an attractive public listing candidate.

An IPO could also provide Circle with capital and credibility at a time when stablecoins are increasingly seen as infrastructure for digital finance. 

A successful listing would mark a milestone for crypto’s bridge to traditional capital markets and provide a much-needed regulatory benchmark.

Trump Media Raises $2.5 Billion for Prospective Bitcoin Treasury 

Trump Media & Technology Group also made headlines this week in crypto, raising $2.5 billion in private capital.

It drew funds from nearly 50 institutional investors and revealed that some of this capital could be used to buy Bitcoin for treasury purposes.

The strategy echoes the sound money narrative, which is increasingly popular among conservative circles in the US as inflation concerns persist. 

The $2.5 billion raise gives Trump Media the firepower to expand its digital empire. Further, it positions it as another institutional name flirting with Bitcoin treasury exposure. 

Whether politically motivated or financially strategic, this adds momentum to the growing trend of Bitcoin becoming a hedge for corporations and ideologically driven capital flows.

Bitcoin (BTC) Price Performance. Source: BeInCrypto

BeInCrypto data shows BTC was trading for $105,275 as of this writing, down by almost 3% in the last 24 hours. 

Arkham Exposes MicroStrategy’s Bitcoin Holdings

Arkham Intelligence also made it to the top crypto news this week. The blockchain analytics firm revealed Strategy’s Bitcoin wallets, effectively contravening executive chair Michael Saylor’s privacy stance. 

Neither MicroStrategy nor Saylor has commented on the exposé, but fears abound that this revelation makes the firm a single point of failure. 

“You think you’re doing something great cool work after doxxing his secret wallets, if he ever tried to sell a bitcoin. The whole market will crash,” one trader wrote.

Arkham’s growing influence as on-chain intelligence becomes mainstream is also noteworthy. With wallets tied to whales, corporations, and influencers tracked in real time, transparency is becoming both a weapon and a liability in crypto finance.

Crypto Horror: Italian Tourist Escapes Alleged Torture in NYC Crypto Saga

A story that reads like a Netflix crime thriller also ranks among the top headlines this week in crypto. A 30-year-old Italian tourist escaped two weeks of alleged torture and captivity inside a luxury Nolita apartment in New York. Reportedly, the apartment was rented by crypto trader John Woeltz.

Officers reported the use of a pistol‑whip and threats with an electric chainsaw. Reportedly, the captors also forced the victim to ingest cocaine and attached an Apple AirTag around his neck to monitor his movements.

The case has shaken Italy’s crypto community and the tourist’s family. Prosecutors are preparing formal charges and have yet to announce details of the forthcoming indictment.

Bitcoin, the pioneering cryptocurrency, has long been praised for its decentralization, security, and immutability. However, a recent analysis by security expert Justin Drake has raised serious concerns about the sustainability of Bitcoin’s security model. He described it as a “time bomb.”

Drake warned of a critical flaw in Bitcoin’s Proof-of-Work (PoW) mechanism. If left unaddressed, it could threaten the entire cryptocurrency ecosystem.

Why is Bitcoin Security a “Time Bomb”?

Drake’s argument centers around a sharp decline in Bitcoin transaction fees, which have now hit a 13-year low, below 10 BTC per day.

Bitcoin Transaction Fees. Source: Blockchain.com

He explained that transaction fees account for only about 1% of miner revenue. The remaining 99% comes from block rewards—the new Bitcoins generated to incentivize miners to secure the network.

However, these block rewards are cut in half every four years in an event known as the Bitcoin halving. In April 2024, the block reward dropped to 3.125 BTC. This trend will continue until Bitcoin’s total supply reaches the hard cap of 21 million coins.

Historically, the Bitcoin community believed that transaction fees would rise as block rewards decreased, ensuring miners stayed motivated to maintain network security. But data shows the opposite. Over the past decade, transaction fees have declined even faster than block rewards.

Bitcoin Fee in Reward Historical Chart. Source: Bitinfocharts

For example, in March 2016, transaction fees represented 1% of the block reward for 25 BTC. By April 2025, even with the block reward reduced to 3.125 BTC, fees still accounted for only 1%. This persistent decline in fee revenue is shrinking Bitcoin’s security budget, which is the funding that incentivizes miners. As a result, the network is becoming increasingly vulnerable to attacks.

“Imagine fees were the only source of miner revenue today:→ revenue drops 100x→ hashing infra decreases 100x→ 1% of today’s infra (1 large farm) can 51% attack BitcoinThat’s the trajectory we’re on. The 21 million cap breaks security, it’s self-destructive. It should be clear now Satoshi made an ooopsie.” – Justin Drake said.

Efforts to boost transaction utility and increase fees have failed. Initiatives like Lightning Network, Liquid, Stacks, and Ordinals caused only temporary fee spikes, followed by declines.

As a result, Bitcoin’s security still heavily depends on block rewards—a finite resource that will eventually disappear under the current model.

Not everyone agrees with Drake’s assessment. Kushal Babel, a researcher at Category Labs, argued that transaction fees should be measured in US dollars, not BTC, to understand their true trend.

“It’s incorrect to say fees are at an all-time low by denominating them in BTC. What matters for security is the fees in dollar terms—we need to consider the BTC/USD price. That may tell a different story.” – Kushal Babel said.

Did Satoshi Make a Mistake?

Drake proposed two potential solutions to prevent a security crisis. However, both are highly controversial within the Bitcoin community.

The first is to introduce perpetual block rewards by removing the 21 million BTC cap. This would break a core principle of Bitcoin: its scarcity as a digital asset. The second option is to abandon PoW and switch to a Proof-of-Stake (PoS) consensus mechanism, as Ethereum did in 2022. PoS relies on validators staking coins instead of computing power. It’s more energy-efficient and may offer a more sustainable security model.

However, both ideas are culturally unacceptable to many Bitcoiners. They challenge foundational principles of scarcity and decentralization.

Lukasinho, Strategy Analyst at Auditless, argued that Satoshi made no mistake. Instead, he believes Bitcoin drifted away from Satoshi’s original vision and became a store of value that doesn’t generate enough transaction activity to raise fees.

“Satoshi didn’t make an error nor are the 21 million wrong. The small blockers made the oopsie. Satoshi’s vision was for BTC to become digital cash, used frequently—and generating tx fees. Not for it to become a pet rock sleeping in wallets.” – Lukasinho said.

There is also a factor Satoshi likely didn’t anticipate: quantum attacks.

Due to the cost and coordination required, a 51% attack like Drake’s may seem unlikely. Still, experts have recently increased their warnings about the threat of quantum computing. It could break Bitcoin’s cryptography, further increasing the urgency of developing a robust and future-proof security model.

Thailand’s Securities and Exchange Commission (SEC) has announced plans to block access to five major cryptocurrency exchanges, Bybit, 1000X, CoinEx, OKX, and XT.COM, effective June 28, 2025, for operating without licenses. 

The move is part of a broader effort to curb money laundering and protect investors. It marks one of the most significant enforcement actions against unlicensed digital asset platforms in the country.

Thailand Cracks Down on Unlicensed Crypto Platforms

The SEC stated that these exchanges have been offering services to Thai users without complying with the Digital Asset Business Act B.E. 2561 (2018). The regulator has also filed charges against the platforms with the Economic Crime Suppression Division (ECD).

“This is to protect investors and stop the use of unauthorized digital asset trading platforms as a money laundering channel,” the statement said.

The Ministry of Digital Economy and Society (MDES) will implement technical measures to restrict local access to these exchanges starting June 28, 2025. The regulator also advised investors using these platforms to withdraw their assets before the deadline to avoid potential losses.

“The SEC warns the public and investors to be cautious when using services from unauthorized digital asset operators as they will not be legally protected and may be at risk of fraud (scams). There is also a risk that these platforms could be used for money laundering,” the SEC added.

The decision follows a meeting in April 2024. Thailand’s Committee for the Prevention and Suppression of Technological Crime and the MDES decided to restrict access to unauthorized digital asset service providers. The goal was to enhance law enforcement efforts and prevent criminal activities.

Furthermore, in April 2025, the government enacted the Royal Decree on Measures to Prevent and Suppress Technology-related Crime. It granted the MDES expanded powers to shut down unlicensed digital services. 

The SEC’s recent initiative demonstrates its commitment to enforcing compliance following previous actions. BeInCrypto reported that earlier this year, the Technology Crime Suppression Division (TCSD) also proposed blocking Polymarket.

Notably, Thailand stands out as one of the world’s largest crypto markets. According to Ledger data, one in five Thai citizens owns crypto. In fact, the government is actively working toward embracing digital assets and promoting responsible innovation. 

Last year, the government lifted the value-added tax (VAT) on domestic crypto asset trading. Furthermore, the efforts to foster a favorable crypto environment have continued.

According to local media reports, Thailand is currently exploring an initiative that would allow tourists to use digital assets for domestic spending via credit cards.

Solana (SOL) experienced a strong rally at the beginning of May but lost momentum as the month progressed, resulting in a period of consolidation. After reaching an early high, Solana’s price fluctuated within a narrow range. 

However, despite the sideways movement, investors continued to accumulate Solana in anticipation of a possible breakout. As the altcoin ended May relatively stable, there are significant factors that could influence its price action in June.

Solana Needs Institutional Support

In May, institutional interest in Solana was notably low. The market was overshadowed by the rise of SUI, a newer blockchain that presented more opportunities for developers and gained considerable traction. While SUI saw inflows of $23.9 million, Solana only attracted a meager $0.5 million, making it one of the least favored blockchains for institutional investors.

This inflow was even lower than Cardano ($1.9 million) and Chainlink ($1.1 million) for the same period, showing that Solana’s institutional interest has waned. As a result, institutions are likely to continue focusing on other blockchain projects in the coming months. The lack of these investors’ participation may lead to Solana losing out on large-scale inflows, potentially affecting its long-term growth.

Solana Institutional Data. Source: Coinshares

While Solana’s institutional interest has declined, retail investors and whales still seem confident in its future potential. The balance on exchanges shows a reduction of 4.13 million SOL, worth over $677 million, over the past month. This trend indicates that both small retail investors and large whales believe that Solana is undervalued at current levels.

The ongoing accumulation of SOL also prevents the altcoin from noting sharp declines, even amid broader market fluctuations. This conviction from investors signals that Solana price may not face significant drops in June, even if there is bearish sentiment in the broader crypto market.

Solana Exchange Balance. Source: Glassnode SOL Price Could Register Gains In June

At the time of writing, Solana’s price stands at $164, marking an 11.5% increase from the beginning of May but a 12% drop from the month’s high. Given the mixed signals from both institutional flows and retail accumulation, Solana is expected to remain range-bound through June. It will likely continue to oscillate between support at $161 and resistance at $178, with key levels needing a strong push from the broader market to break higher.

If Solana manages to breach the $178 resistance and secure a position above it, the price could rise toward $188. This move would be supported by the upcoming Golden Cross pattern, where the 50-day EMA crosses over the 200-day EMA. The crossover signals bullish momentum, and if confirmed, it could bring Solana closer to multi-month highs.

Solana Price Analysis.. Source: TradingView

However, investors must note that historically, June has proven to be a bearish month for Solana. Data from Cryptorank shows that over the past five years, the monthly ROI has ranged from negative to positive. But the median ROI sits at -8.97%.

Solana Monthly Returns. Source: Cryptorank

Thus, if history repeats itself and broader market cues turn negative or investors decide to take profits, Solana may experience a downturn. A drop below the $161 support would raise concerns, potentially sending the price to $150 or even $144. This scenario would invalidate the bullish thesis and could indicate losses ahead for SOL holders.

While PancakeSwap leads in the DeFi market, CAKE’s price has yet to catch up with the platform’s momentum.

With current technical advancements and strategies, PancakeSwap has the potential to continue growing, but the road ahead remains fraught with challenges.

PancakeSwap’s Rise in the DeFi Market

PancakeSwap, one of the decentralized exchanges (DEX) on BNB Chain, is solidifying its strong position in decentralized finance (DeFi). According to the latest data from Dune Analytics, PancakeSwap led in trading volume market share over the past seven days, with an impressive 66.9%.

PancakeSwap’s monthly volume. Source: DefiLlama

Not stopping there, DefiLlama reports that the exchange recorded a monthly trading volume of up to $149 billion. This figure surpasses its major competitor on Ethereum, Uniswap, which recorded $86 billion.

Moreover, PancakeSwap’s fees have reached over $120 million over the past 30 days. This has placed the platform in the top 3 and even surpassed Pump.fun, a prominent name in the DeFi space.

PancakeSwap’s fees. Source: DefiLlama

This remarkable growth can be attributed to recent technical improvements made by PancakeSwap.

A post on X from PancakeSwap’s official account on May 22 stated that the team optimized its data acquisition mechanism using an internal indexer. This addressed the issue of delayed TVL (Total Value Locked) data from external providers, which lasted over two weeks and affected optimal trade routing on Binance Wallet Swap. 

After implementing this solution, PancakeSwap restored optimal routing functionality and collaborated with external providers to build a stronger platform, preventing similar issues in the future. These technical enhancements improved performance but also strengthened user confidence in the platform.

Additionally, the launch of the Infinity upgrade (formerly PancakeSwap v4) in late April 2025 significantly contributed to its current success. This upgrade introduced capital-efficient liquidity pools, hooks, and customizable fees, creating more favorable conditions for liquidity providers on BNB Chain. 

These factors have helped PancakeSwap attract many users and transactions, particularly with the MERL token of Merlin Chain, which recorded a trading volume of over $409 million in just 24 hours, according to CoinGecko. Trading volume on PancakeSwap accounts for 59%.

Merlin Chain’s trading volume. Source: CoinGecko CAKE Price: A Journey Contrasting with the Platform’s Achievements

Despite PancakeSwap’s remarkable achievements, the price of its native token, CAKE, paints a less interesting picture. According to CoinGecko data, CAKE’s price dropped 9% in the past 24 hours, while only rising slightly by 1.6% over the last 7 days.

CAKE’s price. Source: BeInCrypto

Currently, CAKE is trading at $2.53, down 93.9% from its all-time high. Although CAKE’s market capitalization still ranks 114th on CoinGecko, this price decline has left many investors questioning the token’s long-term potential.

However, some traders remain confident in CAKE’s long-term potential. Trader huahuayjy commented,

“As long as Binance Alpha continues to thrive, cake will be discovered for its value, and all the transaction fees from Alpha’s volume will see cake take 30%. Cake will soon become the most profitable protocol,” a trader commented.

Pi Network’s recent price action has shown a clear decline, signaling potential continued losses. 

Market conditions have deteriorated for this altcoin, with growing investor caution possibly driving further declines.  As sentiment weakens, Pi Network may face ongoing downward pressure.

Pi Network Is Losing Its Grip Among Investors

The Chaikin Money Flow (CMF) indicator reveals rising outflows for Pi Network, signaling a growing investor sell-off. CMF is currently slightly below the zero line, suggesting that selling volume is overtaking buying pressure. If the trend persists, it could indicate waning confidence and conviction among holders.

This growing dominance of outflows over inflows reflects hesitation and a loss of faith in Pi Network’s near-term potential. Investors seem increasingly wary, leading to further selling that could weigh on price.

Pi Network CMF. Source: TradingView

Pi Network is presently experiencing an active squeeze, as indicated by the squeeze momentum indicator. Black dots on the chart signal periods of low volatility, typically followed by a release marked by blue dots where prices move sharply. The current squeeze is building bearish momentum.

Given the prevailing negative momentum, the impending volatility release is likely to drive a swift price decline. This technical pattern often precedes significant moves downward, reinforcing the bearish outlook for Pi Network.

Pi Network Squeeze Momentum Indicator. Source: TradingView PI Price Faces A Decline

Pi Network is trading at $0.67 after losing the critical support level of $0.71 within the last 24 hours. This breach suggests the altcoin may continue to slide lower over the next several days as bearish sentiment gains ground.

The immediate local support lies at $0.61. Should Pi Network fail to hold this level, the price could further drop toward $0.57. Such a move would deepen losses for investors and extend the downtrend.

Pi Network Price Analysis. Source: TradingView

Conversely, if Pi Network manages to reclaim $0.71 as a support level, it could spark a recovery. A rise above $0.78 would signal renewed buying interest and invalidate the short-term bearish thesis, potentially reversing the negative trend.