Cointelegraph

Blockstream CEO Adam Back has led a 21 million Swedish krona ($2.2 million) funding round in the Swedish health tech company H100 Group AB, which last week said it would start buying Bitcoin.

H100 said on May 25 that the funds, secured through 0% interest convertible loans, will be used to purchase Bitcoin (BTC) in line with its Bitcoin-buying pivot announced on May 22.

Back, a longtime Bitcoin cypherpunk, contributed around $1.4 million, while the remaining $800,000 came from investment firms Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB and Crafoord Capital Partners.

The raise would allow H100 to buy around 20.18 Bitcoin at current market prices, which would add to the 4.39 Bitcoin that it purchased on May 22 and bring its total stash to roughly 24.57 Bitcoin.

Source: H100

H100 said the convertible loans bear no interest and will mature on June 15, 2028. The loan may be converted into shares at any time at a conversion rate of 1.3 Swedish krona (11 US cents) per share.

If H100’s share price maintains a volume-weighted average price of more than 33% above the conversion price for a cumulative total of 60 trading days, H100 has the right to mandate a conversion of the loan into equity.

A full conversion would result in the issuance of roughly 16,153,900 new shares, corresponding to a dilution of approximately 12%.

H100 shares bounced on Bitcoin buy

Shares in H100 jumped 37% on the firm’s May 22 announcement and rose another 5.33% the following day to 1.29 SEK (14 US cents), Bloomberg data shows.

H100 sells health tools for individuals who don’t want to rely on the “reactive health system,” the company’s CEO, Sander Andersen, said in a May 22 X post.

Andersen believes “the values of individual sovereignty highly present in the Bitcoin community aligns well with, and will appeal to, the customers and communities we are building the H100 platform for.”

According to H100, the move makes it the first public company in Sweden to adopt a Bitcoin treasury policy and one of the first in Europe.

The number of companies buying Bitcoin as a treasury asset is on the rise, with 112 public firms now holding the cryptocurrency, according to BitcoinTreasuries.NET data.

Ten of those corporate Bitcoin holding companies are based in Europe, making H100 one of the first in the region to adopt the trend.

Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

Blockchain security firm Dedaub released a post-mortem report on the Cetus decentralized exchange hack, identifying the root cause of the attack as an exploit of the liquidity parameters used by the Cetus automated market maker (AMM), which went undetected by a code "overflow" check.

According to the report, the hackers exploited a flaw in the most significant bits (MSB) check, allowing them to manipulate the values for the liquidity parameters by orders of magnitude and establish relatively large positions with a keystroke. The Dedaub security researchers wrote:

"This allowed them to add massive liquidity positions with just one unit of token input, subsequently draining pools collectively containing hundreds of millions of dollars worth of tokens."

The incident and the post-mortem update reflect the unfortunate trend of cybersecurity exploits and hacks impacting crypto and the Web3 industry.  

Executives in the industry have continually warned that industry firms must establish safeguards and protect users before regulators clamp down and impose safeguards on the industry.

The flawed MSB check. Source: Dedaub

The Cetus decentralized exchange hacked, triggering $223 million in losses

On May 22, the Cetus exchange was hacked, causing $223 million in user losses within a 24-hour period.

Cetus and the Sui Foundation also announced that Sui network validators froze a majority of the stolen assets.

$163 million of the $223 million was frozen by validators and ecosystem partners on the same day as the hack, according to the Cetus team.

Response draws criticisms and allegations of centralization

The decision to freeze the stolen funds drew mixed reactions from the crypto community, with decentralization advocates criticizing the validators for stepping in and controlling the chain.

"Sui validators are actively censoring transactions across the blockchain," one user wrote on X, echoing many other posts.

Source: Sui

"This completely undermines the principles of decentralization and transforms the network into nothing more than a centralized, permissioned database," the post continued.

"It’s interesting how many Web3 projects backed by VCs lean heavily on centralization, despite borrowing Bitcoin’s ethos," Steve Bowyer wrote in a May 23 X post.

Magazine: Fake Rabby Wallet scam linked to Dubai crypto CEO and many more victims

Cardone Capital, a real estate investment firm with over $5 billion in assets under management, launched the 10X Miami River Bitcoin Fund, a dual-asset fund consisting of a 346-unit multifamily commercial property located on the Miami River in Miami, Florida, and $15 million of Bitcoin (BTC).

In an interview with Cointelegraph, Cardone Capital founder and CEO Grant Cardone said the Miami River Bitcoin Fund, which is the firm's fourth blended investment vehicle mixing BTC and commercial multifamily real estate, will convert a portion of its monthly cash flows to BTC.

Cardone told Cointelegraph the impetus to start the fund followed a suggestion from his brother. The CEO said:

"My brother said to me, you should look at if you would have converted all your cash flow from real estate to Bitcoin and what that would have done over the last 12 years. Well, it would have taken $160 million and turned it into around $3 billion."

"So, when I saw that, I said I am going to create a fund where we buy real estate, add bitcoin, and then use the cash flow from the real estate purchase to buy more Bitcoin," the CEO continued.

Projected growth of the real estate fund with BTC vs traditional real estate returns. Source: Cardone Capital

The CEO also told Cointelegraph that the long-term goal of Cardone Capital is to accumulate $1 billion of real estate and $200 million in BTC, which will be held as a treasury asset, across the hybrid funds.

The funds' unique approach of blending income-producing hard assets and Bitcoin as a store of value could disrupt the market for real estate investment trusts (REITs), market-traded funds giving investors access to baskets of income-producing properties, and other traditional commercial real estate investment vehicles.

Onboarding users to Bitcoin by abstracting away the technical barrier to entry

The CEO added that he wants to onboard investors and tenants alike to Bitcoin and expose them to the digital asset, without them necessarily having to acquire the technical knowledge to understand how Bitcoin works.

A rewards program, paid in Satoshis, to long-term tenants, who pay on time and exhibit good renter behavior, is one idea the real estate investment firm is mulling, Cardone told Cointelegraph.

Grant Cardone, founder and CEO of Cardone Capital. Source: Cardone Capital

One of the goals of the hybrid real estate BTC funds is to drive the adoption of Bitcoin and provide investors, who would otherwise avoid Bitcoin due to having to overcome the technical barrier to entry, with exposure to the digital asset, the CEO said.

"We are onboarding people into a real estate vehicle that they understand and buying Bitcoin for them," the CEO added.

Cardone also told Cointelegraph that he is working with other financial firms to create a hybrid Bitcoin mortgage product giving clients the ability to borrow against their combined Bitcoin holdings and equity held in a real estate investment.

Magazine: NBA star Tristan Thompson misses $32B in Bitcoin by taking $82M contract in cash

Key takeaways:

Rising bond yields reflect growing concern about fiscal stability and inflation, leading some investors to question US Treasury’s traditional role as a safe-haven asset.

Bitcoin defies conventional risk models, rising not because of worsening macro conditions, but possibly because of them.

Bitcoin (BTC) climbed to new heights amid an increasingly fragile global macroeconomic backdrop. Bond yields are surging in the US and Japan, global growth is stalling, and consumer confidence in the US is scraping historic lows.

Paradoxically, the very macro conditions that once threatened Bitcoin’s price are now fueling its rise. The shift speaks to a broader transformation in how investors interpret risk and where they seek refuge. At the center of this realignment is the US debt crisis and the ballooning Treasury yields, which were once considered the safest assets in the world.

Why are US Treasury yields so important?

When US bond yields rise, the cost of servicing its national debt increases sharply — a critical issue given that US debt has now surpassed $36.8 trillion, and the interest payments are expected to total $952 billion in 2025.

US President Donald Trump made it clear on several occasions that lowering yields was among his top economic priorities. However, this may prove far more difficult than he expected, as the two most reliable methods to achieve it both need to come from the US Federal Reserve. Lowering interest rates would make newly issued bonds yield less, making existing higher-yielding bonds more attractive, pushing up their price and lowering their effective yield. Another way is through quantitative easing (QE), where the Fed would buy large amounts of bonds on the open market, thus increasing demand and lowering yields.

The Federal Reserve is currently resisting both strategies and taking caution not to reignite inflation, particularly amid the ongoing tariff war. Even if Trump finds a legal or quasi-legal way to pressure Fed Chair Jerome Powell, it could backfire by eroding investor confidence and producing the opposite of the intended effect.

Investors do not appreciate political meddling with the foundations of the US and global economy, and their confidence is already fragile. In times of instability, investors traditionally flock to government bonds as a safe haven. But today, the opposite is happening. Investors are turning away from Treasurys, suggesting the problems in the US economy are too large to ignore. The recent loss of the US government’s last AAA credit rating is a stark confirmation.

The worrying yield surge in the US and Japan

On May 22, the yield on the US 30-year bond hit 5.15% — its highest since October 2023, and before that, a level not seen since July 2007. The 10-year yield now stands at 4.48%, the 5-year yield at 4%, and the 2-year yield at 3.92%. 

US bond yields: 30Y, 10Y, 5Y, and 2Y. Source: TradingView

For the first time since October 2021, the US 5-Year to 30-Year bond spread has steepened to 1.00%. This suggests markets are pricing in stronger growth, persistent inflation, and a “higher for longer” rate environment. 

Compounding the problem is Japan, the largest foreign holder of US Treasurys. Japanese investors currently hold $1.13 trillion in US government debt, $350 billion more than China. For decades, Japanese institutions borrowed cheaply at home to invest in US bonds and stocks — a strategy known as the carry trade.

This era may be ending. In March 2024, the Bank of Japan started raising interest rates from -0.1% to 0.5% now. Since April, the Japanese 30-year bond yield has surged by 100 basis points, reaching an all-time high of 3.1%. The 20-year bond yields rose to 2.53%, a level not seen since 1999. 

On May 19, Prime Minister Shigeru Ishiba even warned the country’s parliament that his debt-strapped government’s position was “worse than Greece” — a startling admission for a country with a 260% debt-to-GDP ratio.

30-year government bonds.Source: LSEG Datastream

Interestingly, the surge in long-dated Japanese bonds wasn’t matched by shorter maturities. The 10-year bond yield is 1.53%, and the 5-year bond yield is just 1%. As Reuters noted, this suggests a strategic shift by large Japanese pension and insurance funds as the Bank of Japan “normalizes” interest rates. These institutions may now be reassessing both duration risk and foreign bond exposure, which spells potential trouble for US Treasurys if (or when) they begin unwinding their holdings.

Will bond volatility continue to impact Bitcoin price?

As the US continues down the debt spiral, and Japan might be starting its own, the global economy is nowhere near recovery, and that could be a good sign for Bitcoin.

Traditionally, rising bond yields would drag down risk assets. Yet stocks and Bitcoin continue climbing. This divergence suggests investors may be moving away from the traditional playbook. When confidence in the system erodes, assets outside it, like stocks and Bitcoin, begin to shine, even if they are considered risk-on. 

What’s more, between Bitcoin and US stocks, an increasing number of institutions choose Bitcoin. As The Kobeissi Letter noted, net 38% of institutional investors were underweight US equities in early May, the lowest since May 2023, according to BofA.

FMS US equity allowance. Source: BofA Global Research

Meanwhile, according to CoinGlass, total inflows into spot Bitcoin ETFs continue to grow, with assets under management now exceeding $104 billion, an all-time high. This surge suggests that institutional capital is beginning to recognize Bitcoin not just as a high-performing asset, but as a politically neutral store of value, akin to gold. In an era of mounting instability in fiat debt-based economies, Bitcoin is emerging as a credible alternative, offering a monetary system grounded in predictability and decentralization. With a market cap still well below gold’s $22 trillion or even the $5.5 trillion in base dollars (not including debt), Bitcoin remains significantly undervalued.

Interestingly, the current situation supports both of Bitcoin’s once-contradictory narratives: it is acting as a high-yield risk asset and a safe haven store of value. In a world where old frameworks are failing, Bitcoin's dual role may no longer be an anomaly, but a sign of what’s to come.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Key points:

Bitcoin price is stuck below $109,588, but the pullback has not altered its bullish chart structure.

A bullish weekly open from Bitcoin could extend gains in HYPE, XMR, AAVE, and WLD.

Bitcoin (BTC) remains stuck below the $109,588 level during a quiet weekend, but analysts remain bullish. Material Indicators co-founder Keith Alan said in a post on X that Bitcoin remains positive as long as it trades above the yearly open level of about $93,500. 

Bitcoin’s demand is likely to remain strong with investments from sovereign wealth funds, exchange-traded funds, publicly listed companies and select nations. Crypto index fund management firm Bitwise said in a recent report that institutional funds could pump roughly $120 billion into Bitcoin in 2025 and about $300 billion in 2026.

Crypto market data daily view. Source: Coin360

While the long-term picture looks promising, traders need to be careful in the near term. The failure to swiftly push the price back above $109,588 could attract profit-booking by short-term traders. If Bitcoin pulls back, several altcoins could also give up some of their recent gains.

Could Bitcoin rise back above $109,588, pulling altcoins higher? If it does, let’s look at the cryptocurrencies that look strong on the charts.

Bitcoin price prediction

Bitcoin dropped back below the breakout level of $109,588 on May 23, and the bears thwarted attempts by the bulls to push the price back above the overhead resistance on May 24.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The bulls will again attempt to drive the price above the $109,588 to $111,980 overhead resistance zone. If they manage to do that, the BTC/USDT pair could rally to the target objective of $130,000.

The 20-day exponential moving average ($104,199) is the critical level to watch out for in the near term. If the support cracks, the pair could plummet to $100,000 and later to the 50-day simple moving average ($94,916).

BTC/USDT 4-hour chart. Source: Cointelegraph/TradingView

The bears have pulled the price below the 50-SMA. The 20-EMA has started to turn down, and the relative strength index has dipped into negative territory, signaling that the bears have the upper hand. If the price sustains below the 50-SMA, the pair could descend to $102,500 and later to $100,000.

Buyers will regain control if they push and maintain the price above the $109,588 resistance. The pair could then challenge the $111,980 level. A break above $111,980 could open the doors for a rally to $116,654.

Hyperliquid price prediction

Hyperliquid (HYPE) has broken above the $35.73 resistance, indicating that the bulls have kept up the pressure.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

If the price sustains above $35.73, the HYPE/USDT pair could pick up momentum and surge to $42.25. Sellers will try to halt the up move at $42.25, but if the bulls prevail, the pair could skyrocket to $50.

Sellers are likely to have other plans. They will try to pull the price back below the breakout level of $35.73. If they do that, the pair could drop to the $32.15 support, where buyers are expected to step in. 

HYPE/USDT 4-hour chart. Source: Cointelegraph/TradingView

The pair bounced off the 20-EMA and cleared the overhead barrier at $35.73. If the price remains above $35.73, it suggests that the bulls are trying to flip the level into support. The pair could then attempt a rally to $42.25.

This optimistic view will be negated in the near term if the price turns down sharply and breaks below the 20-EMA. That could trap several aggressive bulls, pulling the pair to $32 and subsequently to $28.50.

Monero price prediction

Monero (XMR) soared above the $391 resistance on May 21, indicating that the bulls remain in control.

XMR/USDT daily chart. Source: Cointelegraph/TradingView

The sharp rally of the past few days has kept the RSI in the overbought zone, suggesting that the bulls remain in command. If buyers maintain the price above $412, the XMR/USDT pair could resume its uptrend toward $456.

Sellers will have to yank the price below the $375 level to weaken the bullish momentum. That could attract selling by short-term buyers, pulling the pair to the 20-day EMA ($347). A break and close below the 20-day EMA suggests a short-term trend change.

XMR/USDT 4-hour chart. Source: Cointelegraph/TradingView

The pair is finding support at the 20-EMA, indicating that the bulls remain in control. If the price rises above $412, the uptrend could start the next leg of the uptrend to $456.

Alternatively, a break and close below the 20-EMA suggests that the bulls are rushing to the exit. That could tug the price to the 50-SMA, which is likely to witness buying by the bulls. A bounce off the 50-SMA could face selling at the 20-EMA. If the price turns down from the 20-day EMA, the likelihood of a break below the 50-SMA increases. The pair could then tumble to $332.

Aave price prediction

Aave (AAVE) successfully held the retest of the breakout level of $240 on May 23, indicating demand at lower levels.

Edit the caption here or remove the text

The rising 20-day EMA ($231) and the RSI in the overbought zone show that the bulls have the edge. The AAVE/USDT pair could rally to the $285 level, which is expected to behave as a strong resistance. If buyers overcome the barrier at $285, the up move could extend to $300 and later to $350.

Any pullback is expected to witness solid buying at the 20-day EMA. If the price rebounds off the 20-day EMA, the bulls will again try to pierce the overhead resistance. The bears will be back in the game on a break below the 20-day EMA. 

AAVE/USDT 4-hour chart. Source: Cointelegraph/TradingView

The pair has pulled back to the 20-EMA, which is an important level to watch out for. If the price rebounds off the 20-EMA, the bulls will try to propel the pair above $285. If they succeed, the pair could rally to $300.

Conversely, if the price breaks below the 20-EMA, the pair could slide to the 50-SMA and later to $240. A bounce off $240 is expected to face selling at the 20-EMA. If the price turns down sharply from the 20-EMA, it increases the risk of a drop to $217.

Worldcoin price prediction

Worldcoin’s (WLD) recovery is facing selling at $1.65, but a minor positive is that the bulls have not allowed the price to dip below the 20-day EMA ($1.20).

WLD/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping moving averages and the RSI in the positive territory indicate an advantage to buyers. If the price turns up from the current level or the 20-day EMA, the bulls will again attempt to shove the price above the $1.65 resistance. If they can pull it off, the WLD/USDT pair could rally to $2.50. There is resistance at $1.89, but it is likely to be crossed.

This positive view will be invalidated if the price turns down and breaks below the 20-day EMA. The pair could then decline to the 50-day SMA ($0.99).

WLD/USDT 4-hour chart. Source: Cointelegraph/TradingView

The bears have pulled the price below the 20-EMA, indicating the start of a deeper correction toward the 50-SMA. The bulls will try to start a rebound off the 50-SMA but are likely to meet stiff resistance at the 20-EMA. If the price turns down from the 20-EMA and breaks below the 50-SMA, the pair could plunge to $1.09.

The first sign of strength will be a break and close above the downtrend line. The pair could then rise to $1.52 and subsequently to $1.65.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Strategy co-founder Michael Saylor signaled an impending Bitcoin (BTC) purchase by the company amid the recent dip from the all-time high of $112,000 reached on May 22.

"I only buy Bitcoin with money I can't afford to lose," Saylor wrote to his 4.3 million followers in an X post.

The company's most recent purchase of 7,390 BTC on May 19, valued at nearly $765 million, brought Strategy's total holdings to 576,230 BTC.

If Strategy completes the acquisition on May 26, it will mark the company's seventh consecutive week of Bitcoin purchases.

Strategy’s Bitcoin purchases over time and major metrics. Source: SaylorTracker

Strategy has become synonymous with Bitcoin, as the company continues stacking large amounts of BTC for its corporate treasury and inspiring other companies to pivot to a Bitcoin treasury plan, creating a sustained demand for the digital asset from institutional players and helping bolster the price of BTC.

BTC to propel Strategy into a $10 trillion enterprise, leaving other companies in the dust?

Market analyst Jeff Walton recently said that Strategy may become a $10 trillion company and potentially command the title of the most valuable publicly traded corporation in the world due to its growing Bitcoin stockpile.

“Strategy holds more of the best assets, and the most pristine collateral, on the entire planet than any other company, by multiples,” Walton told the Financial Times in a documentary about the company.

The analyst added that most companies typically face challenges raising hundreds of millions of dollars in capital, but Strategy has been able to raise billions of dollars in under two months.

Whereas most companies would spend this capital to overhaul the production process or on operational costs, Strategy uses the depreciating fiat money raised from creditors and equity holders to purchase a rapidly appreciating asset for its balance sheet.

Michael Saylor previously forecasted that the price of Bitcoin would reach millions of dollars per coin in the coming decades, arguing that the supply-capped asset features an asymmetric upside against all fiat currencies that have no supply cap.

However, Bitcoin has struggled to reach the $150,000 level in the short term. Saylor blamed the sluggish price action on investors taking profits prematurely and rotating out of BTC due to a lack of long-term conviction.

Magazine: Metric signals $250K Bitcoin is ‘best case,’ SOL, HYPE tipped for gains: Trade Secrets

Opinion by: Darren Carvalho, Co-Founder and Co-CEO of MetaWealth

During Paris Blockchain Week, Securitize Chief Operating Officer Michael Sonnenshein made headlines by dismissing real estate as a sub-optimal asset class for tokenization. This isn’t the first time crypto leaders have underestimated the merits of bringing real estate onchain, and it is likely not the last. While I respect Sonnenshein’s contributions to digital asset adoption, his assessment misses fundamental points about real estate tokenization’s transformative potential.

Real estate represents the world’s largest asset class and is projected to reach a value of $654.39 trillion this year, according to Statista. When industry leaders claim that this massive market isn’t suitable for tokenization, they overlook today's transformative infrastructure and the core value proposition that extends far beyond liquidity, transforming access to the asset class.

Replacing traditional foundations

Sonnenshein argues that “good systems” already exist for traditional assets. He implies that tokenization offers marginal improvements at best, but this assessment overlooks fundamental inefficiencies in today’s real estate market that tokenization addresses.

The current real estate transaction process involves weeks of paperwork. Within the UK, there are a number of purchasing fees which can easily add 10% to the total bill. Settlement periods can extend to months and complexity multiplies exponentially for cross-border transactions.

These aren’t minor flaws. They’re systemic failures that tokenization technology is uniquely positioned to solve. Take smart contracts’ ability to automate compliance, for instance, enabling verification and payment distribution while reducing fraud through immutable record-keeping.

Redefining demand beyond liquidity

When Sonnenshein says “the onchain economy is demanding more liquid assets,” he misinterprets what everyday investors truly demand. For the 99% excluded from institutional-grade real estate investments, the primary task is not Bitcoin-like liquidity; it’s meaningful access to an asset class that has built more wealth than any other over the past century.

Traditional real estate investment vehicles require significant sums as minimum investments, accredited investor status and multi-year capital lockup periods. These barriers effectively exclude teachers, nurses and middle-class families from participating in prime real estate properties that have historically delivered consistent returns for investors.

Recent: Dubai Land Department begins real estate tokenization project

Tokenization fundamentally changes this equation. Fractionalizing ownership through tokenization, investors can now participate with as little as $100, receive proportional income distributions and eventually trade their positions on specialized secondary markets. The demand for this democratized access is enormous, even if secondary market liquidity initially lags behind liquid markets.

Translation problems? Not quite

Sonnenshein also suggests that tokenization does not “translate well” to representing ownership in real estate. This assessment overlooks the blockchain’s revolutionary capability to enable fractional investments in properties that were previously accessible only to institutional investors.

Tokenization technology excels precisely at creating transparent, secure fractional investment opportunities with minimal overhead. A $50 million residential development project can be divided into 500,000 tokens, each getting an equal share of the rental income and potential appreciation. This dramatically lowers barriers to entry while maintaining the core benefits of real estate as an asset class.

This fractionalization fundamentally transforms how people can build wealth through real estate. Previously, REITs offered the only realistic path to diversified property exposure, often with high fees, no control and limited transparency. Tokenization allows investors to build personalized portfolios across multiple property types, all managed through a single digital wallet.

What does not “translate well” isn’t the technology. Outdated regulatory frameworks and incumbent business models resist this necessary evolution. The UAE government recognizes this reality, supported by its recent initiative to tokenize $1 billion in real estate assets.

Building tomorrow’s infrastructure

The conservative stance on RWA growth projections misses the accelerating infrastructure development underway. BlackRock’s tokenized money market fund BUIDL is quickly approaching $3 billion in assets, demonstrating a significant institutional appetite for tokenized investment vehicles. This isn’t an isolated case.

UBS Asset Management, Hamilton Lane, Franklin Templeton and many more have launched tokenized investment vehicles, signaling a fundamental shift in how traditional finance views tokenization technology.

What critics consistently underestimate is the network effect of financial infrastructure. Each institutional entrant doesn’t just add linearly to the ecosystem. It exponentially increases connectivity and liquidity pools. We’re witnessing the early stages of a self-reinforcing cycle where each new participant reduces friction for subsequent entrants.

The narrative shouldn’t center on current limitations. Instead, there should be a spotlight on what’s being built. Secondary marketplaces optimized for real-world assets are emerging, regulatory clarity is increasing in key jurisdictions, and each development strengthens the foundation for mass adoption at a pace that will likely surprise today’s skeptics.

Democratized wealth creation

Institutional investors have enjoyed privileged access to the most profitable real estate investments for decades, while retail investors were limited to residential properties or high-fee REITs. Tokenization breaks this paradigm by allowing anyone to build a diversified property portfolio spanning commercial, residential and industrial assets across multiple geographies.

When crypto leaders dismiss real estate tokenization based solely on liquidity metrics, they apply the wrong measurement standard. The transformative potential lies in democratizing access to an asset class that has created more millionaires than any other investment vehicle in history.

The endgame of real estate tokenization is making institutional-grade property investments accessible to everyone. The adoption of tokenized real estate and other real-world assets will continue to grow despite skepticism from executives who miss the forest for the trees.

Opinion by: Darren Carvalho, Co-Founder and Co-CEO of MetaWealth.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

AI agents in crypto are increasingly embedded in wallets, trading bots and onchain assistants that automate tasks and make real-time decisions.

Though it’s not a standard framework yet, Model Context Protocol (MCP) is emerging at the heart of many of these agents. If blockchains have smart contracts to define what should happen, AI agents have MCPs to decide how things can happen.

It can act as the control layer that manages an AI agent’s behavior, such as which tools it uses, what code it runs and how it responds to user inputs.

That same flexibility also creates a powerful attack surface that can allow malicious plugins to override commands, poison data inputs, or trick agents into executing harmful instructions.

Amazon- and Google-backed Anthropic dropped MCP on Nov. 25, 2024, to connect AI assistants to data systems. Source: Anthropic

MCP attack vectors expose AI agents’ security issues

According to VanEck, the number of AI agents in the crypto industry had surpassed 10,000 by the end of 2024 and is expected to top 1 million in 2025.

Security firm SlowMist has discovered four potential attack vectors that developers need to look out for. Each attack vector is delivered through a plugin, which is how MCP-based agents extend their capabilities, whether it’s pulling price data, executing trades or performing system tasks.

Data poisoning: This attack makes users perform misleading steps. It manipulates user behavior, creates false dependencies, and inserts malicious logic early in the process.

JSON injection attack: This plugin retrieves data from a local (potentially malicious) source via a JSON call. It can lead to data leakage, command manipulation or bypassing validation mechanisms by feeding the agent tainted inputs.

Competitive function override: This technique overrides legitimate system functions with malicious code. It prevents expected operations from occurring and embeds obfuscated instructions, disrupting system logic and hiding the attack.

Cross-MCP call attack: This plugin induces an AI agent to interact with unverified external services through encoded error messages or deceptive prompts. It broadens the attack surface by linking multiple systems, creating opportunities for further exploitation.

Sequence diagram showing potential cross-MCP attack vectors and risk points. Source: SlowMist

These attack vectors are not synonymous with the poisoning of AI models themselves, like GPT-4 or Claude, which can involve corrupting the training data that shapes a model’s internal parameters. The attacks demonstrated by SlowMist target AI agents — which are systems built on top of models — that act on real-time inputs using plugins, tools and control protocols like MCP.

“AI model poisoning involves injecting malicious data into training samples, which then becomes embedded in the model parameters,” co-founder of blockchain security firm SlowMist “Monster Z” told Cointelegraph. “In contrast, the poisoning of agents and MCPs mainly stems from additional malicious information introduced during the model’s interaction phase.” 

“Personally, I believe [poisoning of agents] threat level and privilege scope are higher than that of standalone AI poisoning,” he said.

MCP in AI agents a threat to crypto

The adoption of MCP and AI agents is still relatively new in crypto. SlowMist identified the attack vectors from pre-released MCP projects it audited, which mitigated actual losses to end-users. 

However, the threat level of MCP security vulnerabilities is very real, according to Monster, who recalled an audit where the vulnerability may have led to private key leaks — a catastrophic ordeal for any crypto project or investor, as it could grant full asset control to uninvited actors.

Crypto developers may be new to AI security, but it’s an urgent issue. Source: Cos

“The moment you open your system to third-party plugins, you’re extending the attack surface beyond your control,” Guy Itzhaki, CEO of encryption research firm Fhenix, told Cointelegraph.

“Plugins can act as trusted code execution paths, often without proper sandboxing. This opens the door to privilege escalation, dependency injection, function overrides and — worst of all — silent data leaks,” he added. 

Securing the AI layer before it’s too late

Build fast, break things — then get hacked. That’s the risk facing developers who push off security to version two, especially in crypto’s high-stakes, onchain environment.

The most common mistake builders make is to assume they can fly under the radar for a while and implement security measures in later updates after launch. That’s according to Lisa Loud, executive director of Secret Foundation.

“When you build any plugin-based system today, especially if it’s in the context of crypto, which is public and onchain, you have to build security first and everything else second,” she told Cointelegraph.

SlowMist security experts recommend developers implement strict plugin verification, enforce input sanitization, apply least privilege principles, and regularly review agent behavior.

Loud said it’s “not difficult” to implement such security checks to prevent malicious injections or data poisoning, just “tedious and time consuming” — a small price to pay to secure crypto funds.

As AI agents expand their footprint in crypto infrastructure, the need for proactive security cannot be overstated. 

The MCP framework may unlock powerful new capabilities for those agents, but without robust guardrails around plugins and system behavior, they could turn from helpful assistants into attack vectors, placing crypto wallets, funds and data at risk.

Magazine: Crypto AI tokens surge 34%, why ChatGPT is such a kiss-ass: AI Eye

The crypto industry is no stranger to controversy, yet few projects have drawn more scrutiny than Sam Altman’s World, formerly known as Worldcoin.

Promising to verify human uniqueness through iris scans and distribute its WLD token globally, World positions itself as a tool for financial inclusion. However, critics argue the project’s biometric methods are invasive, overly centralized, and at odds with the ethos of decentralization and digital privacy.

At the heart of the critique is the claim that s cannot be truly decentralized when they rely on proprietary hardware, closed authentication methods, and centralized control over data pipelines.

“Decentralization isn’t just a technical architecture,” Shady El Damaty, co-founder of Holonym Foundation, told Cointelegraph. “It’s a philosophy that prioritizes user control, privacy, and self-sovereignty. World’s biometric model is inherently at odds with this ethos.”

El Damaty argued that despite using tools like multiparty computation (MPC) and zero-knowledge (ZK) proofs, World’s reliance on custom hardware — the Orb — and centralized code deployment undermines the decentralization it claims to champion.

“This is by design to achieve their goals of uniquely identifying individual humans. This concentration of power risks creating a single point of failure and control, undermining the very promise of decentralization,” he said.

When reached out for comment, a spokesperson for World pushed back against these claims. “World does not use centralized biometric infrastructure,” they said, adding that the World App is non-custodial, meaning users remain in control of their digital assets and World IDs.

The project said once the Orb generates an iris code, the “iris photo will be sent as an end-to-end encrypted data bundle to your phone and will be immediately deleted from the Orb.” The iris code, they claimed, is processed with anonymizing multiparty computation so “no personal data is stored.”

World’s disclosure regarding personal custody. Source: World

Evin McMullen, co–founder of Privado ID and Billions.Network, said that World’s biometric model is not “inherently incompatible” with decentralization but faces some challenges in implementation around data centralization, trust assumptions, and governance.

A pattern of tech overreach?

El Damaty also drew a parallel between OpenAI’s large-scale scraping of “unconsented user data” and World’s collection of biometric information.

He argued that both reflect a pattern of aggressive data acquisition framed as innovation, warning that such practices risk eroding privacy and normalizing surveillance under the banner of progress.

“The irony here is hard to miss,” El Damaty claimed. “OpenAI built its foundation by scraping vast amounts of unconsented user data to train its models, and now Worldcoin is taking that same aggressive data acquisition approach into the realm of biometric identity.”

In 2023, a class-action lawsuit filed in California accused OpenAI and Microsoft of scraping 300 billion words from the internet without consent, including personal data from millions of users, such as children.

In 2024, a coalition of Canadian media outlets, including The Canadian Press and CBC, sued OpenAI for allegedly using their content without authorization to train ChatGPT, claiming copyright infringement.

ChatGPT storing personal information against its claims. Source: Sandi Fatic

World, however, rejects this comparison, emphasizing that it is a separate entity from OpenAI. The company said that it neither sells nor stores personal data, citing its use of privacy-preserving technologies such as multiparty computation and zero-knowledge proofs.

The scrutiny also extends to World’s user onboarding. The project says it ensures informed consent through translated guides, an in-app Learn module, brochures, and a Help Center.

However, critics remain skeptical. “People in developing nations, who World… has mainly been targeting up until this point, are easier to bribe and often don’t understand the risks involved with ‘selling’ this personal data,” El Damaty warned.

Several global regulators have pushed back on World’s operations since its launch in July 2023, with governments like Germany, Kenya and Brazil expressing concerns over potential risks to the security of users’ biometric data.

In the most recent setback, the company faced challenges in Indonesia after local regulators temporarily suspended its registration certificates on May 5.

The risk of digital exclusion

As biometric systems like World’s gain traction, questions are emerging about its long-term implications. While the company promotes its model as inclusive, critics say the reliance on iris scans to unlock services could deepen global inequality.

“When biometric data becomes a prerequisite for accessing basic services, it effectively creates a two-tiered society,” said El Damaty. “Those willing (or coerced) into giving up their most sensitive information gain access… while those who refuse… are excluded.”

World maintained that its protocol does not require biometric enrollment for basic participation. “You can still use an unverified World ID for some purposes even if you do not visit an Orb,” it said, adding that the system uses ZKPs to prevent linking actions back to any specific ID or biometric data.

There are also concerns that World could become a surveillance tool — especially in authoritarian regimes — by centralizing biometric data in a way that may attract misuse by powerful actors.

World dismisses these claims, asserting that its ID protocol is “open source, permissionless,” and designed so even government applications cannot tie back a user’s activity to their biometric data.

The debate also extends to governance. While World says its protocol is moving toward greater decentralization — highlighting open-source contributions and the governance section of its white paper — critics argues that meaningful user ownership is still lacking.

“We need to build systems that allow individuals to prove their humanity without creating centralized repositories of biometric or personal data,” said El Damaty. “This means embracing zero-knowledge proofs, decentralized governance, and open standards that empower individuals, not corporations.”

The need for secure identity systems

The urgency behind developing secure identity systems isn’t without merit. As artificial intelligence grows more sophisticated, the lines between human and non-human actors online are blurring.

“Risks at the nexus of AI and identity are not limited to any one kind of government system or region,” Privado ID’s McMullen said. She claimed that without reliable verification for both humans and AI agents, digital ecosystems face growing threats—from misinformation and fraud to national security vulnerabilities.

“This is a national security nightmare, where unaccountable, unverifiable non-human actors may now be able to engage with global systems and networks, and legacy systems are not built for these types of verification and contextual logic,” McMullen added.

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

Key takeaways:

HYPE is mirroring Solana’s 2021 breakout structure, targeting a 240% rally by July.

Familiar crypto fractals suggest HYPE could spark similar momentum-driven hype.

Hyperliquid's native token, HYPE, is mirroring a strikingly similar price structure to Solana’s (SOL) early 2021 breakout—one that preceded a 300% rally.

HYPE chart fractal targets 240% rally by July

In January 2021, Solana broke out from a prolonged consolidation phase just as marketwide interest began accelerating.

The breakout, highlighted by a decisive flip above key Fibonacci retracement levels, triggered a vertical rally that saw SOL jump to the 4.618 Fib retracement line at around $19 from roughly $4.90 in under two months, marking a 291% surge.

SOL/USD daily price chart. Source: TradingView

Fast forward to May 2025, HYPE’s daily chart is showing the same bullish structure following its 270% rebound from $10 lows in April, aligning with its 0.0 Fibonacci retracement line.

On May 23, HYPE broke above its 1.0 Fibonacci retracement level (~$35.88), echoing the early stages of SOL’s explosive run in 2021.

HYPE/USD daily price chart. Source: TradingView

Moreover, the relative strength index (RSI) for HYPE has entered deeply overbought territory (above 84), which, while suggesting caution in the short term, also underscores the strength of the current momentum, much like Solana’s RSI profile during its 2021 breakout.

If HYPE continues to follow this fractal, the 1.618 Fibonacci extension level near $51.68 appears to be the next logical target. Beyond that, the 4.618 level at around $128 could mark the peak of this potential rally, a 240% move from its recent breakout zone near $35.

Hyperliquid is like Solana and FTX combined — analyst

Popular analyst and commentator Ansem highlights that Hyperliquid’s vision is very similar to what Solana and FTX aimed to build during their early partnership: a high-performance, low-cost crypto trading experience.

He argues that, unlike FTX’s centralized architecture, Hyperliquid is fully onchain.

Source: X/Ansem

Nearly 97% of all trading revenue goes directly back to HYPE tokenholders, Ansem noted, adding that such fundamentals will assist the Hyperliquid token to reach “all-time highs soon.”

Psychologically, traders are often drawn to familiar and previously successful patterns.

In 2017, Ether (ETH) mirrored Bitcoin’s (BTC) 2013 arc almost identically, from the parabolic blow-off top to the retracement and range-bound recovery phase.

BTC/USD and ETH/USD fractal comparison chart. Source: TradingView

When traders recognize that HYPE could be repeating Solana’s 2021 trajectory visually and fundamentally, it may reinforce bullish conviction and draw in speculators hoping to catch the next “Solana” moment.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers.

The move is part of a broader digital transformation plan spearheaded by the Pakistan Crypto Council and backed by the Ministry of Finance, according to a May 25 report by local news outlet 24NewsHD TV Channel.

In the first phase, the government plans to channel excess power into AI infrastructure and crypto mining operations. Finance Minister Muhammad Aurangzeb said the decision is expected to attract billions in foreign investment while generating high-tech employment across the country.

The initiative’s second phase will introduce access to renewable energy for mining operations, aiming to balance growth with environmental responsibility.

Pakistan unveils tax incentives to attract investors

Per the report, interest from international Bitcoin (BTC) miners and AI firms has already picked up. Officials confirmed that multiple foreign delegations have visited Pakistan in recent months to explore potential partnerships.

To further incentivize investment, the Ministry of Finance announced a package of tax incentives for AI centers and duty exemptions for Bitcoin miners.

Bilal Bin Saqib, CEO of Pakistan’s Crypto Council, reportedly welcomed the development, calling it a “turning point” for the country’s digital economy.

Saqib claimed that with clear regulations and a transparent framework, Pakistan could emerge as a significant player in the global crypto and AI sectors.

Saqib first proposed using the country’s runoff energy to fuel Bitcoin mining at the Crypto Council’s inaugural meeting on March 21.

The meeting included lawmakers, the Bank of Pakistan’s governor, the chairman of Pakistan’s Securities and Exchange Commission (SECP), and the federal information technology secretary.

Pakistan creates Digital Asset Authority

On May 21, Pakistan’s Ministry of Finance endorsed the creation of a dedicated body to regulate blockchain-based financial infrastructure in the country.

The Pakistan Digital Assets Authority (PDAA) will serve as a regulatory body to oversee licensing and regulating exchanges, custodians, wallets, tokenized platforms, stablecoins, and decentralized finance applications.

The PDAA will also be tasked with tokenizing national assets and government debt, facilitating monetization of Pakistan’s surplus electricity through regulated Bitcoin mining, and helping startups build blockchain-based solutions at scale.

Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in ninth, mainly due to strong retail adoption and transactions at centralized services.

Pakistan ranked highly in Chainalysis’ 2024 crypto adoption index, coming in 9th. Source: Chainalysis

Data from Statista also shows Pakistan’s crypto market is “experiencing rapid growth,” estimating the number of crypto users to amount to over 27 million by 2025, out of a population of 247 million.

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

Key points:

Bitcoin is heading further away from its latest all-time highs as US trade tariffs dictate the mood.

Traders are unfazed, arguing that BTC price action can retest even lower levels while maintaining its bull run.

Hyperliquid trader James Wynn goes short BTC after closing a long worth $1.25 billion.

Bitcoin (BTC) failed to maintain $108,000 into the May 25 weekly close as price action struggled to shake off new US trade war woes.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Trump “hot air” blamed as Bitcoin halts price discovery

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying near multiday lows.

After snap losses accompanied comments by US President Donald Trump over 50% tariffs on goods from the EU, crypto immediately felt the heat, and $112,000 remained Bitcoin’s latest all-time high.

Further episodes, this time involving goods from specific tech giants, continued the impact, leading market participants to complain about Trump’s hold over volatility.

Source: Truth Social

“More hot air from the Manipulator in Chief,” Keith Alan, co-founder of trading resource Material Indicators, wrote in part of a response on X.

Alan nonetheless had good news for Bitcoin bulls, arguing that price had more room to retest support without extinguishing the broader uptrend.

“The MACRO trend line and 2 key Moving Averages on the Bitcoin Daily chart currently have confluence with the Yearly Open,” he noted, referring to the BTC/USD 2025 opening level at around $93,500. 

“As long as BTC is trading above that zone, the Bull trend is still intact.”

BTC/USD 1-day chart. Source: Keith Alan/X

Popular trader Crypto Tony held a similar view, suggesting that even another $4,000 drop from current levels by the weekly close would be acceptable.

$BTC / $USD - Update

A close above $108,000 this week would be perfect, but a close above $104,000 is equally as ok as we clear the resistance zone pic.twitter.com/f1jYRouinj

— Crypto Tony (@CryptoTony__) May 25, 2025

Fellow trader Merlijn eyed a classic short-term BTC price magnet in the form of a new “gap” on CME Group’s Bitcoin futures.

“$BTC just left a fresh CME Gap at $107,230,” he showed on the day. 

“These gaps don’t stay open for long. Expect price to come back and fill it. Eyes on that level.”

BTC/USD 1-hour chart. Source: Merlijn The Trader/X

BTC trading giant Wynn flips short

In a move that quickly caught the attention of market observers, meanwhile, one large-volume trader suddenly flipped short on BTC this weekend.

As Cointelegraph reported, Hyperliquid trader James Wynn had previously opened a $125 billion long position but began losing money over the Trump volatility.

As noted by research firm Lookonchain, not only had Wynn closed his long but had replaced it with a new short position worth around $110 million.

Top trader @JamesWynnReal has flipped bearish on $BTC, switching from long to short.

He opened a $BTC short position of 1,038.7 $BTC($111.8M) at $107,711.1 an hour ago, with a liquidation price of $149,100.https://t.co/BMeuztgBNE pic.twitter.com/uLypq5kLTj

— Lookonchain (@lookonchain) May 25, 2025

“That's a lot of trading for an illiquid choppy weekend,” trader Daan Crypto Trades wrote while reacting to the switch on X. 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

A Manhattan crypto investor is facing serious charges after allegedly kidnapping and torturing an Italian man in a disturbing bid to extract access to digital assets.

John Woeltz, 37, was arraigned on Saturday in Manhattan criminal court following his arrest on Friday. He stands accused of holding a 28-year-old Italian man captive for weeks inside a luxury townhouse in Soho, reportedly rented for $30,000 per month.

According to police reports cited by The New York Times, the victim arrived in the US on May 6 and was allegedly abducted by Woeltz and an accomplice.

The attackers are said to have stolen the man’s passport and electronic devices before demanding the password to his Bitcoin (BTC) wallet. When he refused, the suspects allegedly subjected him to prolonged physical abuse.

Source: Mario Nawfal

Crypto victim beaten, electroshocked

The victim described being beaten, shocked with electricity, assaulted with a firearm and even dangled from the upper floors of the five-story building.

He also told police that Woeltz used a saw to cut his leg and forced him to smoke crack cocaine. Threats were also reportedly made against his family.

Photographic evidence found inside the property, including Polaroids, appears to support claims of sustained abuse. The victim managed to escape on Friday and alert authorities, leading to Woeltz’s arrest.

Woeltz was charged with four felony counts, including kidnapping for ransom, and entered a plea of not guilty. Judge Eric Schumacher ordered him to be held without bail. He is expected back in court on May 28.

A 24-year-old woman was also taken into custody on Friday in connection with the incident. However, she was seen walking freely in New York the next day, and no charges against her were found in the court’s online database.

Authorities have yet to clarify the relationship between the suspect and the victim or whether any cryptocurrency was ultimately stolen.

Crypto executives turn to bodyguards

Executives and investors in the crypto industry are increasingly seeking personal security services as kidnapping and ransom cases surge, especially in France.

On May 18, Amsterdam-based private firm Infinite Risks International reported a rise in requests for bodyguards and long-term protection contracts from high-profile figures in the space.

French authorities have responded by introducing enhanced protections for crypto entrepreneurs and their families, including security briefings and priority access to police assistance.

This comes amid a recent surge in kidnappings and ransom attempts. David Balland, the co-founder of hardware wallet company Ledger, was kidnapped in January 2025 and held for ransom for several days before being rescued by French police.

In May 2024, the father of an unnamed crypto entrepreneur was freed from a ransom attempt after French law enforcement officials raided the location in a Paris suburb where the individual was being held hostage by organized criminals.

Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express

Australian Senator Gerard Rennick has drawn criticism from the Bitcoin community following his remarks referring to Bitcoin as a Ponzi scheme and questioning the asset’s value because it isn’t digestible.

“You can’t eat Bitcoin,” Rennick said in a May 23 X post, responding to an X user who questioned his stance after Bitcoin hit a new all-time high of $111,970 on May 22.

Rennick says Bitcoin will go to $1 million but is a “Ponzi Scheme”

“Bitcoin will ultimately go to $1 million dollars. Why because it’s a Ponzi scheme whereby BlackRock will pump more and more dollars into a supply constrained product,” Rennick said.

“What exactly will this product produce?” Rennick said. He added that Bitcoin (BTC) will produce “absolutely nothing” and Australia “needs real engineers not financial engineers.”

Source: Gerard Rennick

Bitcoiners across the world were quick to respond to Rennick’s comments. The Australian Bitcoin Industry Body (ABIB) said Rennick’s remarks about “Bitcoin reveal a deep misunderstanding.” The ABIB added:

“This matters, because misunderstanding leads to misrepresentation. And misrepresentation leads to bad policy.”

Unchained podcast host Laura Shin said, “You also can’t eat the internet, so do you oppose that too?” Bitcoin Marathon team lead Jimmy Kostro said, “This is definitely going to age well. Please enlighten us with more of your deep and nuanced understanding of Bitcoin.”

Source: Coinvision

Rennick responded to the criticism and said he doesn’t “need to explain anything.”

“It’s pathetic how the Bitcoin community needs reassurance from a politician - the very people they claim they want to be free from,” Rennick said.

The Bitcoin community has frequently spoken out when prominent individuals have expressed anti-Bitcoin views.

Only a few weeks ago, Arizona Governor Katie Hobbs experienced backlash from the Bitcoin community after her decision to veto a bill that would have allowed the state to hold Bitcoin as part of its official reserves.

Casa co-founder and cypherpunk Jameson Lopp said, “This will age poorly.” Meanwhile, Bitcoin entrepreneur Anthony Pompliano said, “Imagine the ignorance of a politician to believe they can make investment decisions.” Crypto lawyer Andrew Gordon said, “We need more elected officials who understand that Bitcoin and crypto are the future.”

Similar backlash was seen by the Bitcoin community when the US government decided to transfer $1.9 billion of Bitcoin to Coinbase in December 2024.

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

ARK Invest CEO Cathie Wood says crypto exchange-traded funds (ETFs) will likely maintain their place in the economy no matter how big crypto wallet adoption becomes over the next decade.

“I think ETFs are an important stepping stone because, you know, wallets seem so complicated, so much friction for consumers, they just wanna push a button,” Wood said at the Solana Accelerate event in New York on May 23.

Wallets remain an insurance policy, says Wood

“So ETFs for those who want the convenience, I don’t think, will lose a lot of their luster,” she said. “But they will be a stepping stone into wallet-based.”

“These are insurance policies against something going wrong in the traditional world.”

Bitbo data suggests that there are around 200 million active Bitcoin (BTC) wallets worldwide. Meanwhile, the trading week ending May 23 saw approximately $2.75 billion inflows into US-based spot Bitcoin ETFs, coinciding with Bitcoin reaching a new all-time high of $111,970 on May 22.

Cathie Wood spoke to ETF analyst Eric Balchunas at Solana Accelerate on May 23. Source: Solana

Since spot Bitcoin ETFs launched in the US in January 2024, approximately $44.49 billion in inflows have been recorded, according to Farside data. Meanwhile, spot Ether (ETH) ETFs have seen approximately $2.77 billion in inflows since launching in July 2024.

Wood said that spot Ether ETFs were “less successful than people were expecting” because the US Securities and Exchange Commission did not allow staking.

However, Wood still views Ether as the entry point for new investors to familiarize themselves with smart contracts before exploring other cryptocurrencies, such as Solana (SOL).

“So they might start in the smart contract world with Ether, but once they study the technology, and follow the developers, and see the uptake by consumers, I think they will get there,” Wood said.

Wood said that the launch of US President Donald Trump’s memecoin, Official Trump (TRUMP), in January on the Solana network may have caused investors to be skeptical of Solana.

“Institutions and you’re saying 60-year-olds…I think they might be a little turned off by what happened with the Trump memecoin,” Wood said. Just days after its launch on Jan. 17, TRUMP slid around 50% after the president made no crypto-related “day one” executive orders.

“I mean, that might scare them,” Wood said. Her comments came in response to ETF analyst Eric Balchunas reiterating the point that Bitcoin is “so easy” to explain to a “boomer or adviser” as being digital gold, but other cryptocurrencies “are tougher.”

Wood said her Solana price target is in progress and that she will share it once the research is complete.

In April, ARK raised its “bull case” Bitcoin price target from $1.5 million to $2.4 million by the end of 2030, primarily driven by institutional investors and Bitcoin’s increasing acceptance as “digital gold.”

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

Telegram co-founder Pavel Durov will not be physically attending the Oslo Freedom Forum in Oslo, Norway, after French courts denied his request to travel to the Scandinavian country.

According to an announcement from the Human Rights Foundation (HRF) — a non-profit organization that advocates for universal human rights and individual liberty, and the host of the Oslo Freedom Forum — Durov will still deliver his keynote address remotely over a livestream.

“It is unfortunate that French courts would block Mr. Durov from participating in an event where his voice is so needed,” HRF founder and CEO Thor Halvorssen said.

Durov continues to be a vocal advocate for free speech and individual liberty. Tech and crypto industry executives closely monitor developments related to Pavel Durov and the implications for individual freedom from his ongoing legal battle in France.

Source: Pavel Durov

Durov claims French intelligence services asked him to censor conservative voices

Pavel Durov recently accused French intelligence officials of asking him to censor conservative-leaning political content related to the Romanian presidential elections on the Telegram platform.

Durov said that he flatly denied the request. "You can’t 'defend democracy' by destroying democracy. You can’t 'fight election interference' by interfering with elections," Durov wrote in a May 18 Telegram post.

Although the Telegram founder did not initially name the intelligence official or the European Union country that asked him to censor the content, Durov later revealed more concrete details. The Telegram co-founder wrote in a May 18 X post:

"This spring at the Salon des Batailles, in the Hôtel de Crillon, Nicolas Lerner, head of French intelligence, asked me to ban conservative voices in Romania ahead of elections. I refused. We didn’t block protesters in Russia, Belarus, or Iran. We won’t start doing it in Europe."

Durov has repeatedly stated that Telegram will not censor political content on the platform and would exit markets before restricting free speech on the social messaging application.

The Telegram co-founder said that complying with such heavy-handed political censorship constitutes a human rights violation.

Magazine: Did Telegram’s Pavel Durov commit a crime? Crypto lawyers weigh in

Scammers posing as Ledger, a hardware wallet manufacturer, are sending physical letters to crypto users instructing them to "validate" their wallets or risk losing access to funds, in the latest phishing attack to impact the industry.

BitGo CEO Mike Belshe shared a picture of the scam letter, which featured a QR code, presumably linked to a malicious phishing site. The letter was sent through the United States Postal Service (USPS), according to the executive.

"These are all scams do not fall for any of these," Troy Lindsey wrote after receiving a copy of the phishing letter.

A copy of the scam Phishing letter. Source: Mike Belshe

Cointelegraph reached out to Ledger for comment but was unable to obtain a response by the time of publication.

This phishing attempt highlights the ever-evolving complexity and tactics of social engineering scams designed to steal crypto private keys, user funds, and other sensitive data from unsuspecting victims.

Coinbase and crypto users hit hard by phishing attacks in 2025

In April 2025, $330 million in Bitcoin (BTC) was stolen from an elderly individual through a phishing attack, onchain detective ZackXBT confirmed in an April 30 X post.

"Two suspects in the $330 million heist include 'Nina/Mo' — a Somalian who operates a call scam center in Camden, UK — and an accomplice 'W0rk,' who assisted with the site and call," the onchain security analyst said in an update.

On May 15, crypto exchange Coinbase announced it was the target of a ransom attempt after customer service contractors, who were later fired by the company, leaked user data to threat actors.

The scammers demanded a $20 million ransom, which Coinbase refused to pay, and the stolen data included names, addresses, contact information, and a limited amount of other sensitive account data belonging to a small subset of Coinbase customers.

No private keys, login credentials, or accesses to Coinbase Prime accounts were compromised during the leak, according to the exchange.

TechCrunch founder Michael Arrington was highly critical of the exchange for the security failure, arguing that it will lead to physical violence against customers exposed in the hack.

Magazine: Crypto-Sec: Phishing scammer goes after Hedera users, address poisoner gets $70K

Key takeaways:

Spot Bitcoin ETFs have already surpassed gold ETFs in early growth, with projections of $100 billion in annual inflows by 2027.

Publicly listed companies and nation-states currently hold nearly 1.7 million BTC, pointing to long-term confidence.

Bitwise projects $120 billion in Bitcoin inflows by 2025 and $300 billion by 2026.

Bitcoin (BTC) demand from a diverse range of investors—including publicly listed companies building Bitcoin treasuries, sovereign wealth funds, exchange-traded funds (ETFs), and nation-states—is projected to drive substantial capital inflows to the asset in the coming years. According to crypto index fund management firm Bitwise, inflows to Bitcoin could reach $120 billion by the end of 2025, with an additional $300 billion anticipated in 2026.

In its recent report, “Forecasting Institutional Flows to Bitcoin in 2025/2026,” Bitwise highlights that US spot Bitcoin ETFs recorded $36.2 billion in net inflows in 2024, surpassing the early success of SPDR gold Shares (GLD), which revolutionized gold investing. Bitcoin ETFs reached $125 billion in assets under management (AUM) within 12 months—20 times faster than GLD—projecting Bitcoin to outperform gold significantly, with inflows potentially tripling to $100 billion annually by 2027.

Spot Bitcoin and gold ETFs forecast projections. Source: Bitwise

Despite this surge, $35 billion in Bitcoin demand remained sidelined in 2024 due to risk-averse compliance policies at major corporations like Morgan Stanley and Goldman Sachs, which manage $60 trillion in client assets. These firms require multi-year track records, but growing BTC ETF legitimacy is expected to unlock this capital.

Jurrien Timmer, Director of Global Macro at Fidelity, remarked that Bitcoin trading above $100,000 signals its potential to take over gold’s role as a store of value. His analysis also pointed to the recent convergence of Bitcoin and gold’s Sharpe ratios, suggesting that both assets are becoming increasingly comparable in terms of risk-adjusted returns.

Related: Bitcoin price ‘breather’ expected as short-term traders realize $11.6B in profit

The bull, bear and base cases for BTC wealth allocation

In addition to ETFs and wealth management firms, Bitcoin’s appeal as a reserve asset is rising among the public, private companies and sovereign nations. Companies with Bitcoin on the books currently hold around 1,146,128 BTC, worth $125 billion, accounting for 5.8% of BTC’s total supply.

Sovereign nations collectively hold 529,705 BTC ($57.8 billion), with the United States (207,189 BTC), China (194,000 BTC), and the United Kingdom (61,000 BTC) leading the pack.

Bitwise Senior investment strategist Juan Leon, UXTO research lead Guillaume Girard and research analyst Will Owens expect a continued wealth allocation to BTC, and outlined bear, base, and bull case scenarios.

In the bear case, nation-states reallocated just 1% of their gold reserves to Bitcoin, driving $32.3 billion in inflows (323,000 BTC or 1.54% of supply). Multiple US states created BTC reserves at 10%, adding $6.5 billion, while wealth management platforms allocated 0.1% of assets ($60 billion). Public companies contributed another $58.9 billion, bringing the total inflows to over $150 billion.

The base case envisions a 5% nation-state reallocation, generating $161.7 billion (1,617,000 BTC or 7.7% of supply). US states raised their adoption to 30% ($19.6 billion), wealth platforms allocated 0.5% ($300 billion), and public companies doubled their holdings to $117.8 billion. This scenario aligns with Bitwise’s forecast of $120 billion by 2025 and $300 billion by 2026, capturing 20.32% of Bitcoin’s supply.

In the bull case, a 10% nation-state swap of gold to Bitcoin drives $323.4 billion in inflows (3,234,000 BTC or 15.38% of supply). US state adoption rises to 70% ($45.8 billion), wealth platforms allocate 1% ($600 billion), and public companies quadruple their holdings to $235.6 billion. Altogether, these inflows could exceed $426.9 billion, absorbing 4,269,000 BTC.

The acceleration of institutional investor and government interest in BTC underscores growing confidence in Bitcoin’s long-term value. With 94.6% of its supply already mined (19,868,987 BTC as of May 2025), Bitcoin is increasingly being viewed as a hedge against inflation and fiat currency debasement.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Decentralizing telecommunication networks financially benefits small businesses and telecom corporations alike, according to Frank Mong, the chief operating officer (COO) of Nova Labs, the founding team behind the Helium wireless decentralized physical infrastructure (DePIN) network.

In an interview with Cointelegraph at Consensus 2025 in Toronto, Canada, Mong said that small businesses including bars, restaurants, convenience stores, and other local operators can generate revenue by hosting wireless hotspots and expanding network coverage.

Large telecommunication companies and service providers can also tap into the Helium Network's telemetry to reduce operational costs and expand network coverage in dead zones.

Pictured from left to right at Consensus 2025, the Realest.Com founder DJ Skee Keeney, Nova Labs COO Frank Mong, CEO of KYD Labs Ahmed Nimale, and CoinDesk senior anchor Jennifer Sanasie. Source: Cointelegraph

"It costs about $300,000 for a telecom company to stand up one tower; you need one per block for 5G to work effectively," Mong told Cointelegraph, The executive added:

"Instead of doing that and making phone plans more expensive, what if anyone with a useful Wi-Fi network shares that Wi-Fi and allows, not just anyone to use it securely, but allows large companies like AT&T to see the telemetry of that network."

Decentralized physical infrastructure networks continue to be an example of how blockchain technologies can provide real-world value and make existing infrastructure more resilient to outages, disruptions, censorship, and critical failure.

Helium secures collaborative partnerships with telecom companies

In January 2024, Nova Labs announced a collaborative partnership with Latin American telecommunication company Telefónica to expand the telecom company's coverage in dead zones and help reduce network congestion.

More recently, in April 2025, Helium partnered with AT&T — a global telecommunication giant — to allow AT&T users automatic access to the Helium Network when in range of the network's coverage area of mobile hotspots.

Data from the Helium Network shows that the United States currently has the highest concentration of the network's 95,272 mobile hotspots. Additionally, Helium has 284,053 active Internet of Things (IoT) hotspots worldwide.

An overview of the Helium Network’s mobile hotspots around the world. Source: Helium

"Ultimately, what we did in the United States and Mexico should be global," Mong told Cointelegraph.

Nova Labs is currently focused on expanding coverage through securing collaborative partnerships with telecommunication infrastructure providers in new regions, the executive added.

Magazine: Most DePIN projects barely even use blockchain: True or false?

Opinion by: Scott Lehr, adviser to Alteri.io

In the world of cryptocurrency, knowledge isn't just power — it's a weapon. The recent collapse of Mantra's OM token, which saw a 90% drop in value within hours, underscores how wallet intelligence can be leveraged with devastating effects.

Wallet intelligence is the real-time analysis of blockchain data to extract insights from wallet behaviors, transaction patterns, and asset flows. Firms like Chainalysis and Arkham Intelligence have turned raw onchain activity into high-resolution surveillance, enabling everything from compliance monitoring to predictive trading. This level of insight gives a strategic advantage to those who can access it.

Power like this, however, has consequences. There is a new battlefield on the blockchain, and you might be in danger.

The downside of transparency

As blockchain transparency advances, the pseudonymity that once protected users rapidly dissolves. Every transaction leaves a breadcrumb trail — one that sophisticated actors can follow. Wallet intelligence is increasingly used by regulators, exchanges, and analytics firms to enforce compliance and track illicit activity. It also opens the door to abuse: centralized surveillance, profiling, and preemptive censorship.

OM's collapse exposed the dangers

The April collapse of OM offers a case study of how these dynamics play out. Although not conclusively proven, reports suggest that a single trader initiated a massive short on Binance's perpetual market, allegedly exploiting market liquidity to trigger a cascade of liquidations. At the same time, Mantra's token was held in a highly centralized fashion — 90% of OM supply sat with insiders. Combine that with low liquidity and poor transparency around OTC deals, and you get a chain reaction that wiped out millions in market cap and investor trust.

The FTX fallout and the power of wallet intelligence

We saw echoes of this dynamic during the collapse of FTX. While regulators and internal auditors failed to sound the alarm, early warnings came from parts of the crypto community — analysts and observers who flagged questionable ties between Alameda Research and FTX. But the full extent of the misconduct wasn't revealed until a leaked balance sheet and a cascade of withdrawals forced the truth into the open. After the collapse, wallet intelligence became critical. Blockchain investigators and independent sleuths traced the movement of billions in customer funds, exposing how deeply intertwined — and misused — those assets were. The fallout didn't just destroy value. It shattered trust and proved that, in the right hands, blockchain transparency can uncover truths that centralized actors try to bury.

The growing threat of surveillance capitalism

This is the new battlefield. Wallet intelligence enables actors to front-run movements, manipulate price action, or influence reputational narratives by selectively exposing wallet data. In the wrong hands, it becomes a weapon capable of destabilizing protocols, shaping regulatory pressures, or undermining the decentralization of crypto.

What happens when blockchain data stops protecting users and starts profiling them?

Recent: Mantra links OM token crash to risky crypto exchange policies

The centralization of these tools and data pipelines poses a systemic risk. A small number of firms with privileged access and institutional relationships now have disproportionate influence over which transactions get flagged, which wallets get blocked, and which behaviors are interpreted as “suspicious.” That isn't decentralization. It's surveillance capitalism with a blockchain veneer.

What the crypto community must do now

The implications for markets are significant. As wallet intelligence tools become more influential, expect heightened regulatory scrutiny, targeted enforcement, and volatility driven by actors who can read the tape before the rest of the market sees it. In the wrong context, transparency without guardrails can morph into tyranny.

Wallet intelligence is here to stay — but how it's governed, who gets access, and whether it reinforces or undermines decentralization will determine whether it serves the ecosystem or destabilizes it.

Blockchain users: Stop assuming decentralization means safety. Know how your data is being tracked, interpreted, and possibly weaponized.

Regulators must understand this technology before attempting to regulate it—or risk empowering the wrong actors.

Developers should push for decentralized wallet intelligence platforms that return data power to the network, not a few firms.

Protocols should bake privacy into their architecture without sacrificing accountability.

In this next era of crypto, what you don't know about your own wallet might be exactly what someone else is using to move against you.

Opinion by: Scott Lehr, adviser to Alteri.io.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.