Muhammed Mashad Siddique

Bitcoin kicked off Asia’s trading session above $101,500, holding strong despite renewed tariff tensions and political drama involving former President Donald Trump and Tesla CEO Elon Musk. Traders remain bullish, projecting BTC could hit $120,000 by the end of the year.

🚀 Bullish Momentum Builds for Bitcoin
Market optimism continues to swell. According to Semir Gabeljic of Pythagoras Investments, institutional confidence is powering Bitcoin's resilience. "Despite some volatility from tariff surprises, Bitcoin’s fundamentals remain strong," he told CoinDesk.

Traders on prediction platform Polymarket are now placing a 69% probability on Bitcoin reaching $120K before year-end, citing corporate accumulation and regulatory clarity as driving forces. Public companies now hold over 809,100 BTC—valued at nearly $85 billion—more than double from a year ago.

Paris-based market maker FlowDesk highlighted a buildup of momentum. “The market is clearly coiling,” the firm said, noting reduced leverage but a spike in on-chain borrowing, which may signal a major breakout ahead.

🪙 Crypto Market Snapshot
Coin Price 24h Change
Bitcoin (BTC) 💰 $101,681.19 ↓ 3.19%
Ethereum (ETH) 💰 $2,413.89 ↓ 7.90%
Tether (USDT) 💰 $1.0008 ↑ 0.07%
XRP 💰 $2.1099 ↓ 4.51%
BNB 💰 $633.79 ↓ 4.68%
Solana (SOL) 💰 $145.37 ↓ 5.31%
USD Coin (USDC) 💰 $1.0002 ↑ 0.07%
Tron (TRX) 💰 $0.2770 ↑ 1.56%
Dogecoin (DOGE) 💰 $0.1713 ↓ 9.84%
Cardano (ADA) 💰 $0.6292 ↓ 6.47%
(more coins below...)

😬 $TRUMP Token Tanks Amid Feud Fallout
The political-themed $TRUMP memecoin plunged over 9% after a public spat between Donald Trump and Elon Musk went viral. The clash—centered on Trump’s proposed “Big, Beautiful Bill” and its economic consequences—rattled crypto investors.

Matters worsened as the memecoin’s official wallet, made in partnership with Magic Eden, went offline following a cease-and-desist from a rival Trump-branded crypto project. Trump's sons distanced themselves from the initiative, pointing instead to their support of World Liberty Financial, a separate Ethereum-based venture.

🟢 Circle (CRCL) Explodes 167% on IPO Debut
Stablecoin giant Circle saw a massive 167% surge on its first day of public trading, closing at $83, far above its $31 IPO price. The company, behind USDC, briefly touched $104 intraday before pulling back.

The IPO success arrives alongside increased stablecoin volumes:

USDC: ↑ 22%

USDT: ↑ 13%

Despite the surge, analysts are watching for signs of long-term durability, drawing comparisons to Coinbase’s 2021 debut.

🛑 U.S. Sanctions Philippines Firm for $200M Scam Network
The U.S. Treasury has sanctioned Funnull Technology Inc., a Philippine-based company accused of aiding large-scale crypto scams, often referred to as "pig butchering." The firm allegedly hosted hundreds of fraudulent investment websites, scamming U.S. citizens out of $200 million.

As a result, all U.S. entities are now barred from doing business with Funnull or its administrator, Liu Lizhi, in a move aimed at safeguarding crypto investors.

📈 Global Market Reactions
Nikkei 225: +0.14%, buoyed by Trump-Xi trade talk optimism

S&P 500 Futures: Flat amid Musk-Trump uncertainty

Gold: $3,363.58, rising on weak U.S. data

BTC: Dipped to $100K before rebounding

ETH: Dropped after failing to break $2,640

Bottom Line:
Despite market drama and falling altcoins, Bitcoin’s institutional appeal and strong fundamentals are keeping it on track for six figures. Circle’s IPO success highlights growing demand for stablecoin infrastructure, even as political risks and scams remind investors to stay alert.

In a significant move, Michigan lawmakers have introduced four bipartisan bills on May 21, 2025, aimed at positioning the state as a leader in cryptocurrency and blockchain innovation. The proposed legislation seeks to:
Allow Public Pension Funds to Invest in Cryptocurrencies#ETHMarketWatch
The bills would permit public retirement funds to invest in regulated exchange-traded products tied to Bitcoin and Ethereum, while limiting direct crypto custody. This move could potentially enable public pension investments in leading cryptocurrencies and steer new investments into the state.
Regulate Crypto-Related Industries
The legislation would establish a framework for regulating crypto-related industries in Michigan, providing clarity and stability for businesses and investors. This could lead to increased adoption and innovation in the state's crypto sector.
Ban State Support for Central Bank Digital #ETHETFsApproved Currencies (CBDCs)
The proposed bills would also ban state support for CBDCs, reflecting concerns about the potential impact of government-backed digital currencies on individual freedom and financial privacy.
Establish a Tax-Advantaged Bitcoin Mining Program
Furthermore, the legislation would establish a tax-advantaged bitcoin mining program, aimed at attracting businesses and investments to the state. This could lead to economic growth and job creation in Michigan.#ETH🔥🔥🔥🔥🔥🔥
Potential Impact
If passed, these bills could have a significant impact on Michigan's crypto industry, attracting institutional interest and investments in Bitcoin and Ethereum. The
proposed legislation aligns with historical precedents, setting the stage for cautious optimism among crypto proponents.

New political reports suggest that former President Donald Trump may have been unwittingly influenced into supporting XRP as part of his proposed U.S. Crypto Strategic Reserve. The source of this alleged manipulation? Longtime GOP lobbyist Brian Ballard, who has financial ties to Ripple Labs.
Although Trump was said to be outraged upon learning of the situation, XRP’s status in the reserve appears to remain unchanged—likely due to Ripple’s ongoing financial and political support for the former president.
Explosive Claims About Trump’s XRP Endorsement
During his 2024 presidential campaign, Trump championed the creation of a U.S. Bitcoin Reserve, a proposal that later evolved to include prominent altcoins such as SOL, ADA, and XRP. His early social media post highlighting those tokens #TRUMP sparked widespread attention in the crypto world.
However, a new report from Politico claims Trump never intended to promote XRP. Allegedly, Ballard—whose firm received $60,000 from Ripple Labs last year—used internal pressure to push XRP into Trump’s announcement. One of Ballard’s aides reportedly lobbied Trump directly to include XRP.
When the President learned of the lobbying efforts and Ballard’s ties to Ripple, he was reportedly furious and has since severed ties with the lobbyist.
Will XRP Be Removed? Probably Not#xrp
Despite speculation that Trump might now purge XRP and other altcoins from the proposed reserve, insiders suggest that’s unlikely. His anger seems directed at the manipulation rather than XRP itself.
The timing of the controversy—just before the $USDC
Trump-hosted Crypto Summit—added tension, especially among backers like tech investor David Sacks. Still, Ripple has long been an ally. CEO Brad Garlinghouse has been a vocal supporter of Trump’s crypto platform and has contributed millions to his campaigns and events.
That support may help XRP weather this political storm. Punishing Ripple for a lobbyist’s maneuver may not serve Trump’s broader crypto agenda.
No Official Response—Yet
So far, no official statements have been made by Trump, Ballard, or Ripple. The executive order Trump signed merely calls for an “assessment” of a strategic crypto reserve, and no formal implementation has occurred.
In the meantime, XRP’s price and market position appear stable, signaling that investors don’t anticipate immediate fallout from these revelations.

The cryptocurrency market presented a mixed performance early Friday, with Bitcoin (BTC) maintaining a strong position above $94,000, despite growing political uncertainty in Washington over crypto regulation.

Top Cryptocurrency Prices (as of 03:16 UTC):

Bitcoin (BTC): $94,534.63 (+0.28%)Ethereum (ETH): $1,806.30 (+0.39%)Binance Coin (BNB): $599.69 (+1.69%)Solana (SOL): $144.79 (-0.38%)

Ripple (XRP): $2.1237 (-1.65%)

Cardano (ADA): $0.6620 (-2.00%)Dogecoin (DOGE): $0.1693 (-0.97%)USDT/USDC: Slightly above peg, at $1.0008 and $1.0009 respectivelyHYPE: $20.19 (-1.21%)SUI: $3.3473 (+1.47%)
Market Drivers:

The gains in BTC and ETH came despite mounting political headwinds. Senate Democrats have voiced growing concerns over President Donald Trump’s involvement with the crypto industry, which could stall progress on the long-anticipated GENIUS Act—legislation aimed at regulating stablecoins.
#PoliticsIsBullshit #bitcoin

According to insiders, Trump's recent crypto activities, including the promotion of his family's memecoin and stablecoin partnerships with Middle Eastern investors, are now prompting Democratic senators to press pause on bipartisan cooperation. This, in turn, threatens to delay even broader market structure legislation critical for long-term crypto industry stability.

Senator Ruben Gallego, backed by several colleagues, stated they would block the stablecoin bill without stronger protections on anti-money laundering and national security. Meanwhile, Senate Banking Committee Democrat Elizabeth Warren called the Trump-related developments “corrupt” in a social media post.

Industry lobbyists are calling on Congress to proceed with regulatory frameworks that would ensure U.S. dominance in digital finance while safeguarding investor trust.

Investor Sentiment:

Despite the political uncertainty, institutional interest remains high, and market leaders like BTC and BNB continue to climb. Analysts note that the market's resilience may reflect optimism that regulation, once passed, could help legitimize the industry.

Binance has officially announced the 69th project to debut on its Launchpool platform: Space and Time (SXT), a blockchain protocol backed by Microsoft, known for integrating zero-knowledge (ZK) proofs to verify data integrity.
Starting May 6, 2025, at 00:00 UTC, users will be able to farm SXT tokens by staking BNB, FDUSD, and USDC on Launchpool. Farming will run for two days, ending on May 7, 2025, with a total of 125 million SXT tokens (2.5% of total supply) allocated as Launchpool rewards.
Binance has confirmed that trading for SXT will go live on May 8, 2025, at 13:00 UTC, across five trading pairs: SXT/USDT, SXT/USDC, SXT/BNB, SXT/FDUSD, and SXT/TRY. A Seed Tag will be attached to the token to indicate its emerging status.

Launchpool Breakdown:

BNB Pool: 106.25 million SXT (85% of rewards)

FDUSD Pool: 6.25 million SXT (5%)

USDC Pool: 12.5 million SXT (10%)

Hourly hard caps: 221,354 SXT (BNB), 13,020 SXT (FDUSD), 26,040 SXT (USDC)

SXT will initially launch on Ethereum (contract address: 0xE6Bfd33F52d82Ccb5b37E16D3dD81f9FFDAbB195), with a Base chain contract to follow. Binance will support automatic transfer of assets from Alpha Accounts to Spot Accounts after SXT is delisted from the Alpha platform post-listing.
The initial circulating supply of SXT will be 1.4 billion tokens (28% of total). Another 75 million SXT will be allocated to future marketing efforts.
Users participating in the Launchpool must have completed KYC verification and be from eligible regions. Countries like the U.S., Canada, Australia, and others are excluded due to regulatory restrictions.
#AirdropAlert
Additional Highlights:

Rewards updated hourly; tokens unlockable at any time.

Launchpool participants using BNB retain airdrop and VIP benefits.

APY and pool balances updated in real-time.
$BNB
Binance emphasizes the importance of vigilance against scams, warning that any token offerings prior to the official listing date may be fraudulent.
About SXT:
Space and Time aims to offer secure, decentralized data warehousing with cryptographic verification via ZK-proofs — a growing trend in privacy-preserving blockchain infrastructure.
For more details, users are encouraged to review the official announcement and upcoming research reports.

The U.S. Senate is making significant strides toward establishing a regulatory framework for stablecoin issuers, marking a historic move as lawmakers consider one of the first major crypto-focused bills in the chamber.
Senate Majority Whip John Thune (R-S.D.) has initiated steps to fast-track the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, aiming to bring clarity and consistency to stablecoin regulations across the country. This legislation is the Senate’s counterpart to similar efforts already underway in the House of Representatives, signaling bipartisan momentum in both chambers.
The GENIUS Act seeks to accelerate the development of digital asset innovation within the U.S., while ensuring consumer protection and fair competition, especially from foreign companies entering the market.

While the exact timing for a full Senate vote remains uncertain, the proposal cleared a key hurdle earlier, passing the Senate Banking Committee with broad bipartisan support in an 18-6 vote. A parallel bill was also recently approved by the House Financial Services Committee in April, underscoring the growing urgency among lawmakers to establish clear crypto guidelines.

Senator Bill Hagerty (R-Tenn.), the primary sponsor of the bill, emphasized its importance in a recent statement:

“I look forward to passing the GENIUS Act in short order to keep digital asset innovation in America, protect customers, and make sure foreign companies are playing by the same rules.”

The legislation also has the support of Senator Tim Scott (R-S.C.), Chairman of the Senate Banking Committee.

Adding to the bill's momentum, Bo Hines — Executive Director of the Presidential Council of Advisers for Digital Assets and a key crypto advisor to President Donald Trump — noted in an interview with CoinDesk that the House and Senate versions of the bill are approximately 90% aligned. He expressed optimism that lawmakers from both sides are actively working to reconcile the remaining differences.#USStablecoinBill

#StrategicBTCReserve In March 2025, President Donald Trump signed an executive order to establish a "Strategic Bitcoin Reserve" for the U.S. This reserve aims to hold major cryptocurrencies, including Bitcoin, Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA).  

The primary goal is to position the U.S. as a leader in the crypto space and strengthen the national economy by diversifying its reserves. Some proponents suggest it could potentially help reduce the national debt over time if the value of these crypto assets increases.#resrve

The reserve will be capitalized with Bitcoin already held by the U.S. government through forfeitures, estimated to be around 207,189 BTC as of March 2025, making the U.S. one of the largest state holders of Bitcoin.   #BitcoinDunyamiz

The executive order also establishes a "U.S. Digital Asset Stockpile" for non-Bitcoin digital assets acquired through forfeitures.  

The U.S. Treasury and the President's Working Group on Digital Asset Markets are tasked with developing strategies for managing these reserves and potentially acquiring more Bitcoin in a budget-neutral manner.  

Sixteen US states have reportedly introduced Bitcoin reserve legislation, with some, like Oklahoma, Utah, Arizona, and Texas, having already passed bills out of committee.

The idea has sparked debate, with some economists expressing criticism, while others see it as a way to enhance financial resilience.

Global Perspectives:

Several other countries are also exploring or considering holding Bitcoin as part of their reserves. These include Argentina, Brazil, Hong Kong, and Japan. Japan's Government Pension Investment Fund has announced plans to explore diversifying into Bitcoin.  

Russia has also reportedly considered creating a strategic Bitcoin reserve.  

El Salvador previously adopted Bitcoin as legal tender and accumulated a significant reserve but reversed this decision in 2024 while still holding a substantial amount.  

Bhutan has also quietly built a notable Bitcoin reserve through state-owned mining operations.  

In contrast to the U.S., the European Union (EU) is not officially planning to establish a crypto reserve, with key figures like ECB President Christine Lagarde expressing strong opposition.  

Market Impact:

The establishment and potential growth of strategic Bitcoin reserves by nations could significantly impact the cryptocurrency market by increasing demand and potentially driving prices higher.

This move signifies an evolving perception of Bitcoin, from a purely decentralized alternative to fiat currency to a recognized reserve asset on a national level.  

Current Bitcoin Price and Market Analysis:
As of today, May 5, 2025, the price of Bitcoin is approximately $94,000 - $97,000 USD (fluctuations occur rapidly in the crypto market). In Pakistani Rupees, this would be roughly 26.6 million PKR.
Recent market analysis suggests:

Bitcoin has shown bullish momentum recently, overcoming key resistance levels. Some analysts believe this indicates a potential move towards new all-time highs.  

Volatility remains a factor in the Bitcoin market, influenced by global economic events and regulatory developments.  

Long-term outlook for Bitcoin is generally positive, with increasing institutional adoption and its perceived role as a hedge against inflation.  

In conclusion, the strategic accumulation of Bitcoin reserves, particularly by the U.S., marks a significant development in the cryptocurrency landscape. While still in its early stages and subject to ongoing debate, this trend could have far-reaching implications for Bitcoin's role in the global financial system and its future price trajectory.

Eligible users can win a share of 500,000 Binance Points by testing their knowledge of DeFAI through a daily word game.

May 5, 2025 — Binance News Desk

Binance has launched a fresh edition of its popular “Word of the Day” (WOTD) game, inviting users to test their crypto vocabulary and earn rewards. This week’s theme focuses on DeFAI—a fusion of decentralized finance (DeFi) and artificial intelligence (AI)—highlighting its growing relevance in the blockchain world.

How the Game Works

Running from May 5 to May 11, 2025 (UTC), the WOTD activity allows users to play up to two games per day, where they guess a crypto-related word linked to that day's theme.

Correctly answer 5 WOTDs during the activity period, and you’ll earn an equal share of 500,000 Binance Points.
Binance Points can be redeemed in the Rewards Hub for USDC trading fee rebates and other perks.

Unlocking the Second Daily Game

To play twice a day:

Complete the first WOTD game.Click “Get A New WOTD.”Share a selected article on social media.Unlock the second game once the shared link is clicked by someone else
Welcome Bonus for New Users
New users registering with the “WOTD2025” referral code or its link will:

Receive 10% off spot trading fees.
Become eligible for extra welcome rewards by completing tasks in the Rewards Hub within 14 days
Why It Matters

The WOTD initiative helps users stay informed about key crypto trends—like DeFAI—while also rewarding active learning. Selected readings, including "DeFAI: Your AI Ally for Smoother Navigation of DeFi" and Binance’s research on AI in crypto, offer deeper insights into this evolving topic.

Terms & Eligibility

Only verified users from eligible regions can participate. Points are distributed within two weeks after the activity ends and must be redeemed before the end of the same month the following year.

For full terms and conditions, visit Binance’s official website.

As digital assets evolve rapidly, the UK’s Financial Conduct Authority (FCA) calls on the public to help shape a sustainable, fraud-resistant regulatory framework.

LONDON, May 5, 2025 — The UK’s Financial Conduct Authority (FCA) has launched a significant public engagement initiative, inviting consumers, crypto market participants, and traditional finance stakeholders to help shape the future of cryptocurrency regulation.

The move is part of the FCA’s broader strategy to promote transparency, reduce fraud, and ensure long-term market sustainability in the ever-evolving digital asset space.

Key Areas of Focus

The FCA’s current consultation spans a range of critical areas in the crypto sector, including:
Cryptocurrency trading platformsBrokerage and custodial servicesAsset management operationsDecentralized finance (DeFi) applications
A newly issued discussion paper will serve as the foundation for public commentary. It incorporates input from industry experts, legal analysts, fintech firms, and consumer advocacy groups.
Tackling Fraud and Promoting Responsible Innovation
Technological change and the rise in online financial scams have prompted the FCA to work closely with technology firms. Their joint efforts have led to a 50% decrease in banned crypto advertisements. Still, the agency warns that online fraud remains a growing concern.
To further safeguard consumers, the FCA is proposing restrictions on using credit cards to purchase cryptocurrencies, aiming to reduce the risk of debt accumulation among retail investors.
An FCA spokesperson emphasized that effective, well-structured rules are vital for maintaining market integrity and protecting consumers:

“Digital currencies require a regulatory approach that reflects their unique nature while ensuring the same standards of trust and transparency expected in traditional finance.”
A Collaborative Path Forward
This public engagement effort is not only a regulatory necessity but also a reflection of the FCA’s acknowledgment that the crypto industry must grow with both flexibility and responsibility. As more citizens participate in digital finance, regulators see an urgent need for comprehensive oversight that keeps pace with innovation.#USStablecoinBill #AppleCryptoUpdate
The FCA has signaled that more regulations may follow, with future rounds of feedback and research planned to address emerging risks and opportunities in the digital asset space.
Conclusion
The UK’s FCA is stepping up its role as a proactive regulator in the crypto landscape, blending consumer protection with innovation support. By integrating broad public input, the agency aims to create a robust and adaptive framework for the UK’s digital finance future.

As public companies increasingly allocate capital to Bitcoin, analysts suggest a potential $42,000 price surge could be in play.

Key Highlights:
Bitcoin could see a 44% rally driven by public firms following Michael Saylor’s Bitcoin strategy.
NYDIG Research estimates a "10x money multiplier" impact based on corporate equity issuance.Bitcoin supply remains limited, and institutional demand continues to grow.
As Bitcoin holds strong above $94,000, new research points to a growing trend that could spark another leg up for the world’s largest cryptocurrency: corporate adoption. According to NYDIG Research, a rising number of publicly traded companies allocating Bitcoin to their balance sheets could result in substantial price appreciation—up to $42,000 more per BTC based on current conditions.

This projection hinges on what NYDIG calls a “10x money multiplier”, a historical model that estimates how much new capital entering the market can inflate Bitcoin’s market cap. Applied to today’s supply dynamics, this multiplier could push the price of BTC near $136,000—a 44% increase from current levels.

Corporate Bitcoin Buys: A Trend with Momentum

Inspired by Michael Saylor’s MicroStrategy (MSTR), firms like Semler Scientific (SMLR), Metaplanet (3350), and Twenty One (CEP) have started issuing shares to purchase Bitcoin. This strategy has helped boost their stock valuations and expand their ability to raise capital—some of which may be used to buy even more BTC.

The cumulative effect of this corporate action, according to analysts, is that "dry powder" in the form of equity issuance capacity could become significant buy pressure in the Bitcoin market.

Supply Constraints Remain a Tailwind

Bitcoin’s fixed supply cap of 21 million adds further weight to the bullish case. Publicly traded firms now hold about 3.63% of Bitcoin’s total supply. When adding private company and government holdings, this climbs to 7.48%, according to data from BitcoinTreasuries.

With more companies exploring crypto treasury strategies, and governments hinting at the possibility of holding digital assets, the demand side continues to look strong—especially if new ETFs further increase institutional access.

Current Market Snapshot

As of May 4, 2025:
#SaylorBTCPurchase BTC: $94,925.72 (–1.06%)ETH: $1,819.79 (–1.00%)BNB: $589.85 (–1.76%)#EUPrivacyCoinBan $BTC DOGE: $0.1720 (–1.98%)XRP: $2.1771 (–0.60%)Despite slight market corrections, long-term sentiment remains bullish amid structural shifts in capital allocation strategies.