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Changpeng Zhao Refutes Claims of Meddling in World Liberty Financial Transactions

Ex-Binance CEO, Changpeng Zhao (CZ), has refuted allegations of playing a "fixer" role in transactions involving World Liberty Financial (WLF). He accuses the Wall Street Journal of publishing misleading content with malicious intent. The publication suggested CZ facilitated meetings between WLF and government officials in Pakistan, Malaysia, and Kyrgyzstan.

He denied these allegations, asserting he was not a “fixer” and had no role in introducing a Pakistani official to WLF. Zhao also insinuated the article was part of a larger scheme to obstruct growth in the crypto industry. In the past, CZ has accused the WSJ of publishing false articles with political motivations, aimed at harming his and Binance's reputation.

Democratic Legislators Advocate for Changes to GENIUS Act Amidst Concerns About Trump's Cryptocurrency Connections

As the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act nears enactment, Democratic senators are pushing for amendments to prevent potential corruption from public figures, specifically President Donald Trump's family. The bill, which outlines the first regulatory framework for stablecoins in the U.S., is under scrutiny due to concerns about Trump's crypto investments.

Despite initial support, senators such as Jeff Merkley, Elizabeth Warren, and Chuck Schumer may withdraw their votes if the legislation does not include protections against corruption. Meanwhile, the Trump family's crypto business, World Liberty Financial (WLFI), is in the spotlight as it launches a new stablecoin, USD1, amid an investigation by top Democrat lawmakers into potential illegal fundraising, abuse of political power, and foreign influence.

Cryptocurrency Markets Lose More Than $100 Billion Following Trump's Recent EU Tariff Threats (Weekend Overview)

After President Trump suggested a 50% general tariff on the European Union, the value of Bitcoin and other altcoins plummeted, resulting in a loss of over $100 billion within a day. The week started strong for Bitcoin, breaking past its January record high at nearly $110,000, only to face resistance and drop to $106,500.

It made an impressive resurgence, hitting a new high of $112,000, then settled around $111,000.
However, following Trump's tariff recommendation, Bitcoin's value fell below $107,500 and then dropped further to below $107,000. It has since recovered slightly, sitting above $108,000.

Altcoins followed suit, with significant losses from DOGE, ADA, SUI, SHIB, LINK, and AVAX among others. The total crypto market now stands at $3.530 trillion

High-Profile Dinner for Trump's Meme Coin Holders Sparks Controversy Amid Criticism

A luxurious gathering at Donald Trump's Virginia golf club, exclusive to the top 220 holders of his TRUMP meme coin, has sparked significant controversy, including allegations of constitutional overreach. Attendees, which included billionaires, celebrities, and crypto elites, reportedly spent a collective $394 million on the meme coin for the privilege of attending.

The event has drawn criticism for potentially enabling foreign influence and bypassing US campaign finance laws, with over half of the attendees believed to be living outside the US. This has resulted in 35 members of Congress calling for a Department of Justice investigation. Meanwhile, a new “Stop TRUMP in Crypto Act” has been proposed to prevent officials from profiting from digital assets.

Despite the criticism, Trump reaffirmed his support for a national Bitcoin reserve and downplayed the controversy on his Truth Social account.

Key Developments in Ripple (XRP), Potential Bull Run of Cardano (ADA) and More: Recap of May 23 Crypto Events

The Ripple (XRP) cryptocurrency has seen minor gains recently due to factors such as whale activities and the SEC’s delayed decision on XRP ETF applications. In contrast, Cardano’s (ADA) token has surged by 16% with indicators suggesting a potential large rally.

This followed investors' shift from centralized exchanges to self-custody methods, reducing selling pressure. The meme coin, DOGE, has caught the eye of industry participants with a 35% monthly rise.

Analysts predict a rally to $0.31, supported by increasing whale activity, transaction volume, and user engagement. Bitcoin's price is up 7% in the past week, while XRP has only seen a 1% rise.

Renewed Tariff Warnings from Trump Stir Up Concerns as Bitcoin and Hype Reach Record Highs: A Week in Crypto Review

Bitcoin soared past its previous all-time high of $109,100, reaching a new record of $112,000 despite several setbacks and price crashes. However, the cryptocurrency fell by $3,500 following US President Trump's renewed tariff warnings, proposing a 50% straight tax on all European Union countries.

Despite this, Bitcoin has maintained weekly gains of 5%, outperforming other cryptocurrencies such as ETH, XRP, BNB, SOL, and DOGE. This week also saw the rise of the altcoin HYPE, which experienced a 30% increase in value since last week. In other news, major US banks are considering a joint stablecoin venture, and concerns have been raised about the potential centralization issues posed by BlackRock's Spot Bitcoin ETF IBIT.

Latest Updates on Pi Network for May 23

Pi Network has been making headlines with its strategic initiatives. Recently, it disclosed a $100 million initiative (held in PI and USD) to invest in startups and businesses that could boost PI’s progress and adoption. This initiative, Pi Network Ventures, aims to strengthen the ecosystem, incentivize high-quality integrations, and put network effects into action.

Adding to this, the number of PI tokens stored on cryptocurrency exchanges had reached a peak level of almost 400 million earlier this week, although it has since dropped to less than 310 million. Analysts remain optimistic about PI's future price performance, despite a 10% weekly decline and a 74% crash from the all-time high of almost $3 seen in late February.

Hyperliquid's HYPE Token Soars to Record High as Open Interest Exceeds $9 Billion

Hyperliquid's native HYPE token recently reached a record all-time high of $367.24. This impressive surge was driven by regulatory momentum, significant whale activity, and an open interest milestone of $9.37 billion, highlighting the platform's increasing dominance in decentralized derivatives trading.

HYPE's value has risen 14.5% in the past 24 hours, and 37.7% in the last week, a trend amplified by Bitcoin’s own significant rise. Hyperliquid Lab's proactive engagement with regulatory bodies has been at the forefront of HYPE's growth. The company has advocated for decentralized finance (DeFi) frameworks to improve market efficiency, integrity, and user protection.

Open interest on the protocol has also reached an all-time high, reflecting the enthusiasm of investors. However, the bullish trend has led to some significant losses for those who bet against HYPE.

Assessment of Bitcoin's Value: Will There Be a Brief Pullback Following the Latest Increase?

Bitcoin has once again surpassed key resistance areas, extending its bullish momentum. After several attempts to reclaim previous highs, the market has finally shifted, with bulls regaining control due to an improved sentiment and strong technical structure. The daily chart shows a convincing breakout, with the price breaking through the $100K resistance zone and rallying towards the $110K mark.

The 4-hour chart reveals a rising channel structure which guided the price into the $108K all-time high region. On-chain data shows a resurgence in active addresses, indicating renewed retail and institutional interest. Despite Bitcoin being well-positioned to continue its rally, short-term pullbacks are possible given the extended RSI on higher timeframes.

The $108K level remains critical for the bulls to defend to avoid a deeper correction.

Investigation into Ripple's Value: XRP's Requirements for Escaping Consolidation

XRP has been quietly amassing within a wider consolidation structure, trading beneath key resistance areas but constructing a technical framework that could herald a significant move with sufficient volume and momentum shifts. The XRP/USDT pair's price remains confined within a descending channel, with the 100 and 200-day moving averages providing support.

After failing to convincingly surpass the $2.60 mark, the price is currently being defended in the $2.40-$2.30 zone. A daily close above $2.80 could initiate bullish progression, with $3 and $4 as immediate targets. Conversely, falling below $2 could dismantle the structure, leading to a potential drop towards the $1.5 mark.

Against Bitcoin, XRP is hovering above key support at 2200 SAT, with a bearish bias unless bulls can reclaim 2400 SAT and push upwards.

Bitcoin Value Dips to Under $109K Amid Trump's Suggested EU Tariffs

U.S. President Donald Trump's proposal of a 50% tariff on the European Union (EU) starting June 1 significantly impacted cryptocurrency markets, causing Bitcoin to drop below $109,000. Trump's assertion that the EU was primarily created to exploit the U.S. in terms of trade, coupled with the belief that the Union's policies have led to a yearly trade deficit of over $250 million for the U.S., led to this sudden Bitcoin slump.

This drop in Bitcoin value follows a similar pattern noticed when Trump initiated a trade war against various countries a few months ago resulting in a five-month low for Bitcoin. This recent statement also negatively affected altcoins, with Trump's own meme coin experiencing the most significant daily loss at 15%.

Worldcoin Skyrockets by 31% as Altman's World Network Secures $135M in New Investments

Worldcoin (WLD), an identity token backed by OpenAI CEO Sam Altman, experienced a 31% surge following a $135 million investment from top VC firms Andreessen Horowitz and Bain Capital Crypto.

The funding will be used to expand World Network’s U.S. operations, which include deploying 7,500 iris-scanning Orbs to verify as many as 180 million Americans by the end of the year. Despite facing scrutiny over privacy concerns and mixed success in operations, the company has launched in six U.S. cities and partnered with Match Group for age verification on Tinder in Japan.

The project's global user base has exceeded 26 million, and it has already issued 12.5 million Orb-verified IDs. Recent reports reveal that more than 37 million WLD tokens were unlocked in early May, yet the expected sell pressure has not significantly affected the short-term price stability.

Cryptocurrency Valuation Overview for May 23: A Look at Ethereum, Ripple, Cardano, Solana, and Hype

The week saw a detailed analysis of five cryptocurrencies: Ethereum (ETH), Ripple (XRP), Cardano (ADA), Solana (SOL), and Hype (HYPE).

Ethereum consolidated its position with a 2% gain, and Ripple's price remained similar to the previous week, with a bullish momentum.

Cardano made a 5% gain, progressing towards the $0.9 resistance, while Solana's price expanded by 8%, reaching the resistance at $186.

The Hype cryptocurrency exceeded expectations with a 39% price increase, setting a new record at $37. The market optimism could influence these altcoins' future performance, with all showing promising signs of rallying further.

Is a Major Shift in the 2025 Crypto Market Approaching? Indicators Suggest an Upcoming Altseason

After Bitcoin reached a new high in 2025, attention has shifted to altcoins, which are faring below their peak levels. Black Swan Capitalist’s co-founder, Vandell, suggests the altcoin season hasn't started due to higher US interest rates.

However, he anticipates the onset of monetary expansion may attract more capital into riskier investments like cryptocurrencies. ETH's recent surge to $2700 is also seen as an indicator of the impending altcoin season. Meanwhile, Bitcoin's dominance, a key metric, has been fluctuating but remains high. Despite the unpredictability of the crypto market, some influencers like Carl Moon are optimistic about the arrival of an altseason.

However, the anticipation of an altseason may not bode well for altcoin holders as market movements often defy expectations.

Regulatory Certainty for Cryptocurrency Technology Bill Revived by Tom Emmer

Congressman Tom Emmer, alongside Congressman Ritchie Torres, has reintroduced the Blockchain Regulatory Certainty Act (BRCA), a bipartisan bill that aims to provide legal clarity for blockchain developers, miners, validators, and crypto wallet providers who build non-custodial services.

The bill argues that as long as these service providers do not hold custody of consumer funds, they shouldn't be classified as money transmitters under existing regulations. This legislation is designed to prevent American crypto innovation from being driven overseas by ambiguous regulations. It has garnered the support of industry organizations such as Coin Center, DeFi Education Fund, and Crypto Council for Innovation.

Concurrently, in Texas, the strategic Bitcoin reserve bill (SB 21) has passed its third reading and now awaits the Governor's signature.

Can the Expiration of $2.8B in Bitcoin Options Sustain Market Momentum?

Approximately 25,400 Bitcoin options contracts, valued at $2.8 billion, are set to expire on Friday, May 23, similar to last week's occurrence. The put/call ratio for this batch is 1.2, indicating more short contracts than long ones.

There is over $1 billion in open interest at higher strike prices, suggesting speculators are betting on a new all-time high. Additionally, around 201,000 Ethereum contracts, worth $547 million, will also expire, bringing the total crypto options expiry value to $3.3 billion. Market sentiment remains largely bullish with predictions of ongoing upward momentum, despite caution over a potential 15-20% correction.

Bitcoin hit a new peak of $111,814, while Ethereum is edging towards $2,700, and altcoins like Cardano and Avalanche are performing well.

Leading American Banks Contemplating Collective Stablecoin Initiative: Analysis

Top American banks including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are reportedly in preliminary talks about developing a joint stablecoin to rival the crypto sector, as per a Wall Street Journal report. The discussions also involve bank-owned payment firms like Early Warning Services that operates Zelle, and the Clearing House.

Although the banks' stablecoin plans are still at a conceptual stage, they are subject to the forthcoming stablecoin legislation and market demand. This development follows the recent passage of the GENIUS Act, a key stablecoin legislation, in the US Congress. The banks' move into stablecoins is seen as a response to the prospect of stablecoins becoming widely adopted under President Trump's administration, which could impact the banks' deposits, transaction volume, and profit margins.

Alleged Misuse of SUI's Cetus Protocol Leads to Over $260M Loss, Inquiry in Progress

Cetus, a Decentralized Exchange (DEX) operating on the Sui blockchain, has reportedly been hit by a major exploit, with over $260 million allegedly being stolen. The exploiter reportedly converted the stolen assets into USDC before transferring around $60 million worth to Ethereum and purchasing 21,938 ETH.

This event caused a significant drop in the value of several Sui-based tokens on Cetus, causing some to lose almost their entire value. Cetus has confirmed the exploit and paused its smart contracts as a precautionary measure while an internal investigation is launched.

Speculation suggests that the attacker had control over all SUI liquidity pools before they were drained. Binance founder CZ has offered support to the Sui team following the incident.

What Can a Single Bitcoin Afford You Today? The Evolution of the Bitcoin-Lambo Phenomenon

The infamous Bitcoin Lamborghini meme has come full circle, as you can now purchase a Lamborghini with just one Bitcoin, a drastic reduction from the 200+ Bitcoins spent for a Lambo in 2013. This phenomenon began when an anonymous buyer used 216.8433 Bitcoins to buy a Gallardo from the first auto dealership accepting Bitcoin payments, Lamborghini Newport Beach, in late 2013.

As Bitcoin's value soared, the story became emblematic of the Bitcoin dream and the "When Lambo" meme was born. Today, with Bitcoin's value exceeding $110,000, it's clear that you no longer need to spend 216.8433 Bitcoins to buy a Lamborghini. In fact, one Bitcoin can get you a used 2006 Gallardo with less than 17,000 miles, a far cry from the original transaction.

Exploring Bitcoin's New Heights Over $110K: The Upcoming Significant Milestones

Bitcoin's value has soared past $110,000 for the first time, prompting speculation about potential future targets. Bitcoin's market cap has exceeded $2.2 trillion, and its realized cap has been consistently increasing.

After a rough patch where it dropped below $75,000, Bitcoin shattered its previous all-time high of $109,000 and is now hovering around $112,000. This puts Bitcoin in a price discovery stage, indicating that all investors are profiting, and no historical resistances exist. Analyst Ali Martinez optimistically predicts Bitcoin could skyrocket to nearly $150,000. Meanwhile, Stockmoney Lizards suggest a possible short squeeze could trigger a surge up to $200,000.

Despite the overall bullish sentiment, some caution that a pullback may be imminent, although past indications have not always been accurate.