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Dubai Finance and Crypto.com Collaborate for Government Service Payments in Cryptocurrencies

Wu Shuo reported the formalization of a Memorandum of Understanding between Dubai Finance and Crypto.com. This partnership will allow users to pay government service fees using cryptocurrencies. The initiative aims to boost Dubai's strategy towards a cashless economy and promote the growth of digital payments. The signing of the agreement took place during the FinTech Summit, held at the Dubai International Financial Centre. Crypto.com will provide the necessary technical support to convert payments into United Arab Emirates Dirhams and transfer them to Dubai's treasury accounts.
#NewsTrade

Bitcoin Drops Below US$ 101.000 with Intraday Decline of 1.54%

According to market data from OKX, reported by PANews on May 13, the price of Bitcoin (BTC) has fallen, breaking below the level of US$ 101.000. Currently, the cryptocurrency is trading at US$ 100.942, representing a depreciation of 1.54% throughout the day.
#BTCBackto100K

CryptoQuant Founder Anticipates Emergence of 'Dark Stablecoins' Driven by Government Regulations

Ki Young Ju, founder of CryptoQuant, predicts that the increase in regulatory oversight over conventional stablecoins, such as Circle's USDC and Tether's USDT, by governments, may catalyze the emergence of 'dark stablecoins.' These 'dark stablecoins' would be characterized by their resistance to censorship and could be either algorithmic stablecoins or issued by allied nations that do not impose strict financial controls. Young Ju emphasized that the presence of intermediaries makes traditional stablecoins susceptible to government control, contrasting with the value placed on censorship resistance by early Bitcoin adopters. Legislation on stablecoins in the U.S., exemplified by the Senate's GENIUS Act, proposes strict regulations for domestic issuers of digital dollars, including the possibility of restricting access to these assets for users on blacklist. Market reactions to this forecast are diverse; some advocate for the emergence of dark stablecoins, considering traditional stablecoins a 'bottleneck' for Bitcoin, while others argue for the sufficiency of Bitcoin itself. Currently, dollar-pegged stablecoins maintain market dominance, with USDT and USDC jointly controlling over 90% of the market share, totaling approximately 242 billion dollars.
#BTCBackto100K

Trump Memecoins Contest Closed, NFT Launch and Rewards Program Announced

Wu reported that the TRUMP MEME COIN has announced the closure of its first competition. The top 220 performing users in the ranking will be notified about a dinner with Trump. The official team will also distribute TRUMP NFTs to all participants in the ranking. Additionally, the TRUMP REWARDS points program has been launched, allowing users to start accumulating points by connecting their digital wallets.
#NewsTrade

Binance Alpha Introduces New Projects: MOODENG and GOAT

PANews reported on May 11 about the launch of two new projects by Binance Alpha: Moo Deng (MOODENG) and GOAT.

The essential details are:

* MOODENG: Contract Address: ED5nyyWEzpPPiWimP8vYm7sD7TD3LAt3Q3gRTWHzPJBY
* GOAT: Contract Address: CzLSujWBLFsSjncfkh59rUFqvafWcY5tzedWJSuypump

This crucial information provides investors with insight into the recent additions of Binance Alpha, allowing users interested in these contracts to keep up with the latest developments.
#BinanceAlphaAlert

Hyperliquid Open Interest Exceeds US$ 5.6 Billion, Reaching New All-Time High

As announced by Hyperliquid on its social media on May 11, the volume of open interest in contracts traded on the platform surpassed the mark of US$ 5.60 billion, establishing a new historical record.
#CryptoComeback

Marcus and Tomaino Debate BTC and ETH Neutrality Under Perspectives of Distribution, Jurisdiction, and Development

According to ChainCatcher, David Marcus, former leader of Facebook's stablecoin project, used platform X to contest Nick Tomaino's claim, founder of 1confirmation, that ETH lacks credible neutrality. In his reply, Nick Tomaino detailed three aspects to define credible neutrality:

Token Distribution and Transparency: Tomaino argues that Bitcoin (BTC) stands out for its internal allocation of 0% and total transparency, allowing any individual to participate as a Proof-of-Work (PoW) miner. In contrast, Ethereum (ETH) has an internal allocation of 10% and previously used PoW mining. Solana (SOL) is criticized for its internal allocation of 62% and the lack of prior disclosure regarding the distribution of tokens and validators, reflecting a general absence of transparency.

Jurisdictional Relations: Tomaino posits that Bitcoin pioneered the native internet concept, while Ethereum builds its native internet ecosystem in collaboration with a global community. Solana, on the other hand, is seen as a "corporate token" with lobbying activities in the United States.

Platform for Developers: According to Tomaino, Bitcoin lacks a robust platform for developers, while Ethereum hosts a wide range of significant use cases, including stablecoins, DeFi, NFTs, prediction markets, and decentralized social networks. Ethereum prioritizes providing a decentralized platform for developers and companies, relying on contributions from major players such as Coinbase, BlackRock, Fidelity, Stripe, Kraken, Deutsche Bank, Sony, Visa, Polymarket, Uniswap, Aave, and Opensea for its ecosystem.
#ETHCrossed2500

Whale Moves US$ 6.12 Million in NEIRO from Bybit and Gate.io in 48 Hours

According to data from Onchain Lens monitoring, reported by TechFlow on May 11, a whale withdrew a total of 5.16 million NEIRO tokens from the exchanges Bybit and Gate.io in the last two days. The total value of these transactions is estimated at 6.12 million US dollars.
#StrategyTrade

Whale Activity Boosts XRP, Potential Break of Resistance in Sight

Context: Recently, a significant increase in the movement of large volumes of XRP by whales has been observed. Ripple transferred 300 million XRP to unidentified wallets, followed by another transaction of 70 million tokens between unknown addresses, totaling an amount of US$ 782 million. These large-scale transactions have captured the market's attention.

Key Events:

* The price of XRP recorded a rise of 2.98% in the last 24 hours, reaching US$ 2.20.
* On-chain data reveals an influx of US$ 122.62 million in XRP to exchanges and an outflow of US$ 116.44 million, resulting in a slight increase in the net flow, indicating cautious optimism among investors.
* The Network Value to Transactions (NVT) ratio of XRP showed a decrease of 57.13%, suggesting that the transaction volume is growing at a faster pace than the market capitalization, signaling an improvement in the network's health.
* Conversely, the daily number of active addresses and transaction count showed a decline, reflecting a weakening in user engagement, which could have implications for price sustainability.
* Long-term holders find themselves in unrealized loss positions, suggesting that the market may be going through a phase of accumulation at the bottom.
* Short position liquidations totaled US$ 1.48 million, significantly surpassing long position liquidations at US$ 364 thousand, generating a "short squeeze" that boosts upward momentum.
* The price of XRP is approaching the upper line of the descending channel at US$ 2.18, with a key resistance level positioned at US$ 2.40; overcoming this barrier could trigger a rally with the potential to reach US$ 3.00.
#TradeOfTheWeek

Trump Induced by Lobbyist to Announce Inclusion of XRP in National Crypto Reserve Plan

Former U.S. President Donald Trump was prompted to announce the inclusion of XRP tokens in his national cryptocurrency reserve plan by a lobbyist linked to Ripple Labs. As reported by Politico on May 8, a collaborator of pro-Trump lobbyist Brian Ballard provided Trump with a text for publication on social media, suggesting the announcement of a strategic U.S. crypto reserve, including XRP, Solana (SOL), and Cardano (ADA). After publishing the message on his social media platform on March 2, Trump discovered Ballard's connection to Ripple, feeling exploited and expressing irritation. Trump stated that Ballard "is no longer welcome".

Trump's connection to Ripple predates this announcement. Ripple's General Counsel, Stuart Alderoty, donated over $300,000 to Trump's 2024 election fundraising campaigns and political action committees, and he, along with CEO Brad Garlinghouse, met with the then-elect president in January and participated in inauguration events. Ripple also donated the equivalent of $5 million in XRP to Trump's presidential inauguration fund and is a significant contributor to the Fairshake political action committee, which supports "pro-crypto" candidates.

Days after the publication of the message on social media, Trump signed an executive order creating a "digital asset reserve," and the message remained on his platform at the time of the report. The price of XRP showed little reaction to the report, trading at $966,318,704,952.23 at the time of publication, with an approximate increase of 5% in the last 24 hours. Cointelegraph attempted to contact Ripple's spokesperson but received no response.
#TradeOfTheWeek

Senate Impasse Undermines Future of Legislation on Stablecoins with Obstacles to the GENIUS Act

The U.S. Senate failed to approve a critical procedural vote for the advancement of the GENIUS Act. Insider information indicates that certain Democratic senators, who previously expressed support for the bill, changed their stance to opposition in the vote that took place on Thursday. This shift in position stems from concerns related to the anti-money laundering and national security clauses present in the latest version of the legislative proposal. Although Republicans pushed for the vote, they did not obtain the necessary number of votes, resulting in a temporary shelving of the bill. The White House initially planned to formalize a legislative agreement on cryptocurrencies in August, during a ceremony in the Rose Garden, but the current landscape points to uncertainties regarding the realization of this plan.
#StripeStablecoinAccounts

US Senate Fails to Pass 2025 Stablecoin Innovation Act After Democratic Turnaround

On May 8, the "US Stablecoin Innovation Guidance Act of 2025" (GENIUS Act) did not receive approval in the United States Senate, generating implications for the cryptocurrency regulatory landscape in the country. The legislative initiative, proposed by Senator Bill Hagerty and supported by Tim Scott, Kirsten Gillibrand, Cynthia Lummis, and Angela Alsobrooks, faced last-minute opposition from the Democratic Party, primarily motivated by concerns related to the cryptocurrency ventures of former President Donald Trump.

In response to the Democratic objections, the text of the bill underwent revisions, incorporating stricter anti-money laundering requirements for stablecoin issuers. The bill was considered a bipartisan effort to establish a more defined regulatory framework for digital assets, with a specific focus on stablecoins used for payments. The underlying intention was to strengthen the international influence of the US dollar, avoiding more controversial topics within the crypto ecosystem. Senate Majority Leader John Thune expressed criticism of the Democrats' stance, arguing that their concerns were duly considered throughout the legislative process. The situation remains dynamic, and new information is expected to emerge as events unfold.
#StripeStablecoinAccounts

Meta Advances in Stablecoin Project Focused on Cross-Border Payments

Meta has actively resumed its stable digital currency project, engaging in discussions with various companies in the cryptocurrency sector. The central goal of these negotiations is to enable cross-border payments using stablecoins. To lead these initiatives, Meta has hired Ginger Baker, former executive at Plaid and current board member of the Stellar Development Foundation, for the position of Vice President of Product.

Information from sources indicates that the discussions are still in preliminary phases, with an emphasis on reducing the costs associated with payments, particularly for microtransactions made on the Instagram platform. In a previous effort in the digital currency space, Meta launched the Libra project in 2019, but discontinued it in 2022, culminating in the sale of its assets to Silvergate.
#StripeStablecoinAccounts

American Dollar Index Records Strong Appreciation on May 8

As reported by MetaEra on May 9 (UTC+8), the American Dollar Index (DXY), which assesses the strength of the dollar against a basket of six major global currencies, showed a significant increase of 1.03% on May 8. By the end of the currency market session, the index reached the level of 100.639.

At the close of the New York currency market, the following exchange rates were observed: the euro against the dollar fell to 1.1225 USD, down from 1.1328 USD the previous day. The British pound also depreciated against the dollar, trading at 1.3251 USD, below the 1.3317 USD of the previous session. In contrast, the dollar strengthened against the Japanese yen, with the exchange rate reaching 145.88 yen per dollar, higher than the 143.53 yen of the previous day. The Swiss franc also depreciated against the dollar, with the exchange rate set at 0.8312 Swiss francs per dollar, above the 0.8216 Swiss francs of the previous session. The Canadian dollar followed the same trend, trading at 1.3928 Canadian dollars per dollar, compared to 1.3808 Canadian dollars the previous day. Finally, the Swedish krona also depreciated against the dollar, with the exchange rate reaching 9.7340 Swedish krona per dollar, up from 9.6344 Swedish krona of the previous session.
#StripeStablecoinAccounts

Former CEO of Celsius, Mashinsky, Receives 12-Year Sentence for Fraud in Sign of Intensification of Crackdown on Crypto Crimes in the Trump Era

The former CEO of the cryptocurrency lending platform Celsius Network, Alex Mashinsky, was sentenced to 12 years in prison by the U.S. Federal Court for the Southern District of New York after being found guilty of fraud. Despite the defense's plea for leniency, citing Mashinsky's prior record, his military service, and his admission of guilt, the prosecution had recommended a 20-year sentence. Although market forecasts indicated a higher likelihood of leniency, the court's decision demonstrates a firm stance against financial crimes in the cryptocurrency sector.

The sentencing occurs in a context where the market speculated about possible leniency, recalling the pardons granted to cryptocurrency executives during the early part of President Trump's second term. Jay Clayton, a prosecutor appointed by Trump, emphasized that the severity of the sentence aims to deter fraudulent activities both in the crypto industry and in future emerging sectors. Mashinsky's defense sought to distinguish his case from that of Sam Bankman-Fried, highlighting that their client did not directly misappropriate user funds. The crypto community closely followed the case, considering Trump's history, which included pardoning the founders of Silk Road 2.0 and executives from BitMEX, and the fact that several prominent figures in the sector are currently seeking pardons. The complexity of the current regulatory environment is underscored by Mashinsky's sentence, which signals a tough line on certain financial crimes.
#FOMCMeeting

TRUMP Rises 13%, But Indicators Point to Risk of Correction

The cryptocurrency TRUMP recorded a 13% increase in the last 24 hours, standing out as one of the assets with the highest appreciation in the market. However, technical market analyses signal the existence of potential correction risks. The moving average (MA) indicators reveal a bearish crossover, with short-term averages (20 and 50 days) below the long-term average (100 days), suggesting an increase in selling pressure.

The position-weighted funding rate in the derivatives market shows negative values, indicating a predominance of sellers. The spot market witnessed consecutive sales for two days, totaling 5.56 million TRUMP, equivalent to approximately 4.41 million USD. The liquidity heat map reveals multiple liquidity clusters below the current price, which could attract price drops to liquidate leveraged positions. In summary, despite the recent appreciation of TRUMP, several indicators suggest the possibility of an imminent price correction.
#CryptoComeback

G7 Evaluates Strategies Against North Korean Cybercrimes with Cryptocurrencies

At the upcoming G7 summit, scheduled for mid-June in Alberta, Canada, the agenda may include discussions on the increasing hacking activities and cryptocurrency thefts perpetrated by North Korea. The information, released by Bloomberg, underscores the global concern regarding Pyongyang's exploitation of cyberspace to generate financial resources.

In recent years, North Korea has intensified sophisticated attacks on cryptocurrency platforms, siphoning off considerable sums through the deployment of malicious software. These digital assets have emerged as an essential means for the North Korean regime to bypass international sanctions and inject capital into its weapons of mass destruction programs.

G7 leaders are expected to discuss possible countermeasures and coordinated strategies to mitigate this cyber threat and stem the illicit flow of funds that fuels North Korea's nuclear and missile ambitions. The discussion aims to strengthen global security in the digital space and hold state actors accountable for cybercriminal activities.
#TradeStories

Robinhood Looks at European Market with Blockchain Platform for Trading US Stocks

Robinhood, as reported by Bloomberg, plans to expand its services to Europe through the development of a platform built on blockchain technology. The goal is to provide European retail investors with the ability to trade securities from the United States, establishing partnerships with companies in the digital asset sector.

Currently, Robinhood is evaluating potential collaborations with Arbitrum or Solana networks to enable this initiative. In a previous strategic move, the company obtained a brokerage license in Lithuania last month. Additionally, Robinhood plans to acquire Bitstamp, aiming to obtain the necessary license for trading cryptocurrency derivatives.
#USHouseMarketStructureDraft

Analyst Signals Impact of Monetary Tightening on American Economic Outlook

As reported by ChainCatcher and quoted by Jin10, SignatureFD analyst Tony Welch suggests that the recent decline in US Treasury yields, observed after the Federal Reserve meeting, may reflect growing concerns among investors about the adverse effects of monetary tightening on the trajectory of the economy.

Welch points to the current economic slowdown, arguing that maintaining a more restrictive monetary policy for an extended period will inevitably exert negative pressure on growth. Additionally, he highlights the influence of Trump's tariffs on the Fed's reasoning, noting the explicit mention of trade in the FOMC statement from the beginning. Finally, Welch observes the repeated use of the word "uncertainty" by Powell during the press conference, underscoring the doubts that permeate the economic outlook.
#TradeStories