Binance founder Changpeng Zhao (#CZ ), who served four months in prison for violating anti-money-laundering laws, has formally applied for a presidential pardon. This move has drawn attention due to potential conflicts of interest, as a UAE-backed fund plans to use a cryptocurrency created by the Trump family's company to acquire a $2 billion stake in Binance.
2. Binance and Kraken Reportedly Targeted in Cyberattacks
Binance and Kraken have reportedly been targets of cyberattacks. Separately, the U.S. Department of Justice charged 12 individuals in a cyber-enabled racketeering conspiracy that netted over $263 million, involving the theft of Bitcoin through social engineering tactics.
3. Significant Market Liquidations Reflect Increased Volatility
The cryptocurrency market experienced $259 million in liquidations over the past 24 hours, affecting nearly 97,000 traders globally. This trend indicates heightened volatility, with long positions accounting for $158 million and short positions for $101 million of the total liquidations.
4. Bitcoin's Illiquid Supply Surpasses 14 Million
As of May 14, 2025, Bitcoin's illiquid supply—coins held long-term with minimal circulation—has exceeded 14 million, accounting for nearly two-thirds of the total mined supply. This trend suggests a strengthening of long-term investment strategies among holders.
5. Binance Research Highlights Key Crypto Trends
Binance Research reports a 10.8% increase in the cryptocurrency market cap in April 2025, driven by macroeconomic developments such as a 90-day pause on U.S. tariffs. Bitcoin demonstrated resilience, reaffirming its value as a hedge against uncertainty.
