Here’s a roundup of the biggest cryptocurrency news as of May 23, 2025:
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🚀 Market Highlights
• Bitcoin Hits All-Time High: Bitcoin has surged past $111,000, marking a new record. This milestone coincides with the 15th anniversary of “Bitcoin Pizza Day,” commemorating the first real-world transaction using Bitcoin. 
• Ethereum’s Momentum: Following a significant tech upgrade in May, Ethereum is gaining traction, with investor inflows increasing as the platform shows renewed momentum heading into the second half of the year. 
• Altcoin Activity: Investors are rotating into major altcoins like XRP and Solana (SOL) as Bitcoin consolidates near its record highs. 
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🏦 Institutional Developments
• Major Banks Explore Joint Stablecoin: Leading U.S. banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are collaborating on the creation of a joint stablecoin. This initiative aims to enhance transaction efficiency and respond to growing competition from the crypto industry. 
• Texas Moves Toward Bitcoin Reserve: The Texas House has passed a bill to establish a statewide strategic Bitcoin reserve, positioning the state as a leader in financial innovation and economic resilience. 
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🏛️ Political and Regulatory Updates
• Trump’s Crypto Engagement Raises Concerns: President Donald Trump hosted a black-tie dinner for top buyers of his meme coin at his Virginia golf club, raising significant ethical concerns. Critics argue that Trump is profiting personally from the presidency and engaging with anonymous and potentially foreign crypto investors. 
• GENIUS Act Faces Scrutiny: Top Senate Democrats are intensifying efforts to introduce anti-corruption safeguards into the GENIUS Act, a major cryptocurrency bill, amid concerns over former President Trump’s potential influence and conflicts of interest. 
