• The Most Published News
FTX Recovery Trust announced that over $5 billion will be distributed to creditors on May 30 as part of its Chapter 11 reorganization process. Eligible claimants in both Convenience and Non-Convenience Classes will receive funds through designated providers @BitGo and @krakenfx. The distribution represents the second official payment round since FTX entered bankruptcy proceedings, with varying payout percentages for different claim classes.
@Coinbase faces a major insider-led data breach involving bribed employees, leading to a ransom demand of $20 million in Bitcoin, which the company refused; remediation costs are projected between $180 million and $400 million. The SEC is simultaneously investigating @Coinbase for potentially overstating its user numbers, heightening regulatory scrutiny on the exchange.

• Current Market Trends
Bitcoin regained strength, trading above $100K with a 10% gain since early May, fueled by substantial institutional Bitcoin ETF inflows, particularly through BlackRock’s IBIT. Notably, Bitcoin spot ETFs saw net inflows of $115 million, though there was a significant outflow from ARKB. TRON surpassing Ethereum as the largest USDT issuance network with TRC20-USDT issuance exceeding 75.7 billion tokens marks a milestone for stablecoin adoption. Despite recent dips linked to weaker U.S. economic data, Bitcoin and Ethereum remain well-supported by institutional demand and whale accumulation, supporting a bullish medium-term outlook.

• Regulations and Policies
The U.S. Senate is set to vote on the GENIUS Act on May 19, a comprehensive stablecoin regulatory bill incorporating provisions for 100% asset backing, increased consumer protections, and prohibitions on big-tech issuers like Meta and Amazon. Key amendments also include restrictions on FDIC insurance misuse and ethical rules for officials. The UK mandates crypto exchanges to begin reporting user data to HMRC starting 2026, aligning with the OECD’s Cryptoasset Reporting Framework. Additionally, the SEC continues probing Coinbase over claims of user number misrepresentation, while the U.S. DOJ is pressing forward with criminal charges against Tornado Cash developer Roman Storm for money laundering and sanctions evasion.

• Technology and Innovation
Chainlink’s adoption as @TRONdao’s official oracle strengthens decentralized data integrity for multi-billion-dollar DeFi applications. Neutron’s Lightning Network API integration with Cobo custody platform facilitates faster and cheaper Bitcoin payments across Asia, driving regional institutional adoption. BlackRock’s $3 billion tokenized treasury fund BUIDL has integrated with Euler on Avalanche, allowing DeFi collateral borrowing and reward mechanisms, signaling growing institutional forays into decentralized finance infrastructure.

• Institutional Investor News
Institutional Bitcoin adoption continues accelerating globally: Abu Dhabi’s sovereign fund Mubadala increased its stake in BlackRock’s Bitcoin ETF to $408.5 million, Hong Kong’s Avenir Group boosted Bitcoin ETF holdings to nearly $700 million, and Saudi Arabia's central bank disclosed indirect Bitcoin exposure via shares in MicroStrategy. U.S. states collectively hold $632 million in MicroStrategy stock as indirect Bitcoin exposure, while several publicly listed firms—such as Bahrain’s Al Abraaj Restaurants and Brazil’s Méliuz—have adopted Bitcoin treasury strategies. Moreover, Soros Fund Management added Bitcoin miner Cipher Mining to its portfolio, reflecting growing institutional commitment across the value chain.

• Market Forecasts and Expert Opinions
Top industry voices predict strong Bitcoin price appreciation: Former BitMEX CEO Arthur Hayes (@CryptoHayes)forecasts $1 million per Bitcoin by 2028 citing macroeconomic pressures, while @jpmorgan analysts and Bitwise CIO Matt Hougan expect Bitcoin to outperform gold in late 2025. @Matrixport_EN research anticipates Bitcoin breaking historical highs by summer 2025, supported by regulatory clarity and institutional flows. Adam Back emphasizes Bitcoin’s undervaluation and bullish fundamentals, citing robust spot ETF inflows and expanding institutional involvement. However, caution remains around potential market volatility driven by macroeconomic uncertainties and regulatory developments.

• Security and Hacking News
The crypto ecosystem faces ongoing security challenges: @Coinbase’s insider-led data leak compromised less than 1% of users but resulted in a costly ransomware attempt and phishing scams, prompting $180-400 million in remediation. The High Court of Singapore ordered liquidation proceedings against Multichain following a $210 million hack. The U.S. DOJ indicted 12 individuals connected to a $263 million crypto fraud involving social engineering and mixer use. Additionally, the Tornado Cash co-founder Roman Storm’s criminal trial will proceed despite dropped charges related to unlicensed money transmission, reflecting sustained regulatory enforcement against crypto-related illicit activities.

• Conclusion
Today’s crypto landscape is marked by heightened institutional confidence, evidenced by significant ETF inflows, sovereign wealth fund participation, and corporate Bitcoin treasury adoption globally. Regulatory clarity is advancing with anticipated stablecoin legislation in the U.S. and enhanced reporting requirements in the U.K., providing a more structured framework for growth but also increasing compliance complexity. Meanwhile, security incidents like the Coinbase insider breach reinforce the imperative for robust internal controls and cyber defenses. Investors should remain attentive to regulatory developments and security news while considering the prevailing bullish institutional trends and expert forecasts signaling long-term upside potential for Bitcoin and the broader crypto market. Diversified exposure and cautious optimism are advisable given ongoing macroeconomic uncertainties and evolving market dynamics.

Daily crypto market update is an AI summarization of important news published in major crypto media in the last 24 hours at the time of sending. The full news story can be found at the URL below.

http://ns3.ai/top-news