• The most published news
Argentina's government has disbanded the investigative unit looking into the $LIBRA memecoin scandal promoted by President Javier Milei, just three months after its formation. The memecoin experienced a steep rise and crash, leading to over $100 million in profits for insiders. Despite the unit's closure, a federal judge has ordered banking record investigations for Milei, his sister, and other key suspects, keeping the scandal active.
CME Group has introduced $XRP futures as its fourth cryptocurrency product, following Bitcoin, Ethereum, and Solana. On the first day, $XRP futures recorded a notional trading volume exceeding $19 million, surpassing Solana futures' debut volume of $12.3 million. The contracts are cash-settled and use the CME CF XRP-USD reference rate, highlighting growing institutional interest in digital assets.

• Current market trends
U.S. spot Bitcoin ETFs collectively saw a total net inflow of $328.76 million on May 20. @BlackRock's IBIT ETF led these inflows with $287.20 million, followed by @Fidelity's FBTC with $23.26 million. Other ETFs including @ARKInvest's ARKB, @Grayscale's BTC Mini, and Bitwise's BITB also recorded smaller net inflows on the same day.
@BlackRock's iShares Bitcoin Trust (IBIT) now holds 636,108 $BTC, making it the second-largest Bitcoin holder behind Satoshi Nakamoto. The ETF controls over 3% of Bitcoin's total supply and has surpassed major holders like Binance and other corporations. With strong inflows and rising demand, IBIT is positioned to potentially surpass Satoshi's holdings as Bitcoin price approaches $150,000.

• Regulations and policies
The SEC remains a focal point, with ongoing scrutiny over cryptocurrency fraud involving Unicoin and the deferral of decisions on ETFs tied to $XRP and $DOGE. Furthermore, India's Supreme Court has expressed discontent with the lack of clear crypto regulations, urging decisive action. Similarly, South Korea is tightening oversight on digital assets to enhance financial security.

• Technology and innovation
In a major technological push, Solana announced the upcoming 'Alpenglow' consensus protocol aimed at significantly enhancing transaction speed, further positioning Solana as a high-speed blockchain competitor. @Ethereum saw advancements with Succinct's introduction of a zkVM for quicker Ethereum block validation, highlighting ongoing innovations in blockchain scalability.

• Institutional investor news
Institutions like Abraxas Capital and KULR Technology are expanding their crypto holdings, with significant investments in Ethereum and Bitcoin, respectively. There's a discernible pivot towards leveraging crypto as a strategic asset, seen in companies like Circle entering into a significant agreement with BlackRock to manage stablecoin reserves.

• Market forecasts and expert opinions
Bitcoin's potential for reaching new heights is supported by optimistic projections, including Standard Chartered's prediction of Bitcoin hitting $500,000 by 2028. Analysts continue to emphasize Bitcoin's role as a macro hedge, particularly in light of evolving global financial landscapes and fiscal policies.

• Security and hacking news
The U.S. SEC has accused crypto firm Unicoin and its executives of fraud, alleging they falsely claimed tokens were backed by valuable real estate. The company allegedly sold unregistered securities and raised over $100 million by issuing rights certificates. The SEC aims to recover funds, impose civil penalties, and bar involved executives from corporate leadership roles.

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