The following is a summary of important news developments in the cryptocurrency sector since May 2025, covering various aspects such as regulatory policies, market fluctuations, security incidents, and industry innovations:
I. Regulatory and Policy Dynamics
1. Controversy over the US MEME Act
US Senator Chris Murphy introduced the MEME Act, proposing to ban the president and members of Congress from issuing meme coins, directly targeting the personal cryptocurrency '$Trump' launched by Trump. This coin's market value once soared to $5.5 billion but has been criticized as 'the biggest corruption scandal in White House history.' House Democrats resisted the originally scheduled cryptocurrency regulatory hearing due to the Trump family's deep involvement in the crypto industry, resulting in the meeting being changed to a roundtable discussion.
2. Progress of State-Level Cryptocurrency Legislation
- New Hampshire passed the Strategic Bitcoin Reserve Act, authorizing the state treasury to purchase Bitcoin as a reserve asset (capped at 5%), becoming the first state in the nation to enact such legislation.
- Florida has withdrawn a similar proposal, exiting the state-level cryptocurrency reserve competition.
3. International Regulatory Trends
- The UK has explicitly rejected the idea of establishing a national cryptocurrency reserve like the US, emphasizing the integration of crypto assets into the existing financial regulatory framework.
- Taiwanese legislators are urging the government to include Bitcoin in a diversified reserve, alongside gold and foreign exchange.
II. Market Fluctuations and Price Trends
1. Bitcoin Rebound and Institutional Predictions
- Bitcoin's price has returned above $100,000, but market bearish resistance is significant, with analysts predicting increased volatility in the future.
- Binance founder CZ predicts that Bitcoin may reach $500,000 to $1 million in this cycle, emphasizing the long-term value of the integration of blockchain and AI.
2. Performance of Altcoins and Emerging Fields
- Real asset tokens (RWA) such as ONDO and AI project tokens like VIRTUL have shown resilience amid volatility, becoming market focal points.
- The popularity of meme coins is diverging, with community tokens like PEPE recovering in the bull market, while Trump Coin (TRUMPo) has a market value of $281 million, ranking 38th in market capitalization.
III. Security Incidents and Industry Scandals
1. North Korean Hackers Attack ByBit Exchange
The North Korean hacker group 'Lazarus' stole $1.5 billion worth of digital assets from ByBit and attempted to cash out through complex means, triggering a global manhunt.
2. Zerebro Project Founder Fakes Death
Project founder Jeffy Yu admitted to exiting the public eye through a fake suicide video, leading to a plummet in the $ZEREBRO token, marking the first case of a 'fake death exit' in the crypto space.
IV. Innovations in New Products and Services
1. Expansion of Cryptocurrency Financial Instruments
- Strike has launched a Bitcoin-backed loan service, allowing users to collateralize BTC for cash (with interest rates starting at 12%).
- Coinbase has become the first platform in the US to offer 24/7 Bitcoin and Ethereum futures trading.
2. ETF and Payment Applications
- Tidal Financial has applied to launch a Bitcoin and gold hedging ETF, expanding the cryptocurrency derivatives market.
- The American fast-food chain Steak 'n Shake has announced it will accept Bitcoin payments nationwide, covering over 100 million users.
V. Industry Cooperation and Project Dynamics
1. Investigation into Binance's Connections with the Trump Family
Democratic senators are calling for the Treasury Department to investigate whether Binance has any financial ties to the Trump family, particularly concerning the stablecoin projects they support.
2. Expansion of the Stablecoin Market
The total market value of stablecoins has surpassed $242.8 billion, reaching a historic high, with leading projects such as USDT and USDC dominating the market.
3. Exchange Dynamics
- Bybit's user count has surpassed 70 million, continuing to increase compliance investment.
- Gate.io announced a reserve ratio of 128.57%, with a total value exceeding $10.8 billion.
Summary
The cryptocurrency sector in 2025 exhibits characteristics of intensified policy games, significant market fluctuations, escalating security challenges, and frequent innovative applications. Investors need to pay attention to regulatory trends (such as the progress of the MEME Act), technological trends (such as the combination of AI and blockchain), and risk management (such as the risks of leveraged trading).
