Here's a summary of the latest cryptocurrency news for May 29, 2025, based on recent developments:
Bitcoin's Record Highs: Bitcoin has surged past $111,000, driven by institutional demand and a crypto-friendly stance from the Trump administration. The price rally follows optimism around proposed regulatory changes, including the advancement of the GENIUS Act for stablecoin regulation. However, altcoins have underperformed, with an index of smaller cryptocurrencies down 40% year-to-date.
Trump Media's Bitcoin Investment: Trump Media and Technology Group plans to raise $2.5-$3 billion to invest in Bitcoin, with custody provided by Anchorage Digital and Crypto.com. This move aligns with a trend of public companies adding cryptocurrencies to their balance sheets amid rising token prices.
Stablecoin Developments: Circle, issuer of the USDC stablecoin, launched its IPO targeting a $5.65 billion valuation, with BlackRock reportedly eyeing a 10% stake. The stablecoin sector is gaining traction as the U.S. Senate advances legislation to regulate stablecoins, boosting market confidence.
Trump’s Meme Coin Controversy: The $TRUMP meme coin, linked to President Trump, has sparked ethics concerns. A gala for top investors raised $148 million, but the coin dropped 16% post-event, and critics warn of potential influence buying. Senate Democrats are pushing to ban officials from profiting off crypto ventures.
Regulatory Shifts: The Trump administration rescinded Biden-era guidance cautioning against crypto in 401(k) plans, signaling a more permissive stance. Meanwhile, former CFTC Chair Rostin Behnam warned that the crypto market remains vulnerable without stronger regulatory oversight.
U.S. Banks and Crypto: Major U.S. banks are cautiously exploring crypto through pilot programs and partnerships, encouraged by new bank-friendly policies from regulators like the Office of the Comptroller of the Currency. However, banks remain hesitant due to potential regulatory shifts.
Crime in Crypto: Two cryptocurrency investors, William Duplessie and John Woeltz, were charged in New York for allegedly kidnapping and torturing a man to obtain his Bitcoin password, highlighting ongoing security risks in the crypto space.
New Crypto Platforms: Trading platform moomoo is launching Moomoo Crypto on June 6, 2025, offering 32 coins to U.S. users, leveraging Coinbase’s infrastructure. This reflects growing mainstream adoption of cryptocurrencies.
Top Cryptos for 2025: Analysts highlight Qubetics, XRP, Binance Coin, Tron, and Toncoin as top performers for 2025, driven by innovation and real-world use cases. However, overall crypto market capitalization fell 40% earlier this year before stabilizing at $3.5 trillion.
For real-time updates, you can check platforms like CoinDesk or follow crypto-focused accounts on X, but be cautious as posts may contain unverified claims. If you need details on specific coins or events, let me know .