Day: May 1, 2025

Devs introduce Ethereum R1 layer-2 scaling solution

boss

A group of developers within the Ethereum ecosystem, operating independently of the Ethereum Foundation, have announced Ethereum R1 — a layer-2 (L2) scaling solution for the Ethereum network that does not include a native token. According to the announcement, the project relies entirely on donations, does not have venture funding, and does not have any pre-mined token allocations or a governance token. The project’s team wrote in a May 1 X post: “General-purpose L2s should be commodities — simple, replaceable, and free from centralized dependencies or risky governance. Ethereum R1…

‘Annoying As Hell’ – Analyst Predicts XRP Will Crash 30%

boss

XRP fell below $2.30 this week, wiping out all the gains registered in last week’s short-lived rally. The cryptocurrency, which had risen 8% from $2.06 to $2.28 last week, has now lost 3.5% from Monday’s opening price and 7% from its weekly high of $2.36. Market Expert Forecasts Potential 30% Fall To $1.55 A cryptocurrency analyst, Block Bull, forecasts that XRP might drop much deeper in the near future. From the analyst’s April 29 X post, XRP could not break the resistance level at the top of a bull flag…

Trump-Linked NexusOne Launches to Influence U.S. Crypto and AI Policy

A new government relations firm that includes former administration officials started operations in Washington, D.C. to help crypto and artificial intelligence companies shape U.S. policy. NexusOne Consulting is led by Jeff Ifrah, a white-collar defense attorney; Jim Trusty, a former government lawyer who has represented the Trump administration; and Ross Branson, who served in the Commerce Department during President Donald Trump’s first term. “There’s a once-in-a-generation opportunity to shape the future of tech policy,” Ifrah said in a press release. “We’re here to make sure innovators don’t just react to…

Malaysian Police Raid Illegal Bitcoin Mining Operation

Key Notes Malaysian police seized 45 illegal Bitcoin mining machines worth $52,145. The operation stole $8,342 worth of electricity each month. No arrests were made, but investigations are ongoing. The Malaysian police carried out a raid on an illegal Bitcoin mining syndicate operating in the Hulu Terengganu and Marang districts on April 30. Authorities believe the operation, based in the northeastern region of Malaysia, was using stolen electricity to power its Bitcoin mining activities. According to a report from a local news outlet, the raids took place at two separate…

Bitcoin surges past $97k as bulls build momentum

boss

Bitcoin surged past the $97,000 mark on Wednesday, climbing to a high of $97,546 before pulling back slightly, as traders continue to test key resistance levels.  The move came after days of tight price action between $93,000 and $96,000, with total market capitalization reaching $1.90 trillion and 24-hour trading volume hitting $29.88 billion, according to recent crypto.news data.  The rally builds on momentum that began in mid-April, when Bitcoin (BTC) decisively broke out of a long-standing consolidation phase near $74,400. Technical indicators suggest continued upward pressure, with major support now…

Terengganu Police Dismantle Bitcoin Mining Syndicate in Electricity Theft Crackdown

boss

Terengganu police and Tenaga Nasional Berhad (TNB) dismantled a syndicate accused of stealing electricity to power illegal bitcoin mining operations in Hulu Terengganu and Marang districts on Tuesday, seizing 45 machines worth RM225,000. Police, TNB Raid Illegal Bitcoin Mining Operations in Hulu Terengganu, Marang The joint operation, codenamed Op Letrik, targeted two premises—one in Bukit […] Original

Will Bitcoin price hit an all-time high in May?

boss

Bitcoin price started the month on a strong note, crossing the important resistance level at $96,000 for the first time since February. Bitcoin (BTC) jumped above $97,000, up by almost 30% from its lowest level in April. Its rally occurred as investors adopted a risk-on sentiment, with the Crypto Fear and Greed Index rising to 55.  U.S. stocks also continued their upward momentum, with the Dow Jones and Nasdaq 100 indices both jumping by over 350 points. Below are the top three reasons why Bitcoin may be on its way…

Sui Network to Drive Bitcoin DeFi Growth With Stacks Integration

Key Notes The potential integration of assets from Stacks aligns with Sui Network’s ambition to become a Bitcoin DeFi chain. Bitcoin DeFi is gaining dominance in the niche with soaring Total Value Locked metric. Beyond the SUI Network, other chains like Cardano are also driving the Bitcoin DeFi agenda. Layer-1 blockchain Sui Network has hinted at a strategic integration of sBTC, the one-to-one Bitcoin-backed asset from Stacks. Per Sui’s May 1 post on X, this move would give the network access to a decentralized, secure, and programmable Bitcoin (BTC) asset.…

Federal crypto legislation could come with a ‘New York State of Mind’

boss

Love it or leave it, New York State has been a force in crypto regulation. Ten years ago, the state created the United States’ first comprehensive regulatory framework for firms dealing in cryptocurrencies, including key consumer protection, anti-money laundering compliance and cybersecurity guidelines. In September 2015, the New York Department of Financial Services (NYDFS) issued its first BitLicense to Circle Internet Financial, enabling the company to conduct digital currency business activity in the state. Ripple Markets received the second BitLicense in 2016. Circle and Ripple went on to become giant…

Bitcoin bulls prep $97K resistance showdown as gold dips 8% from highs

boss

Bitcoin (BTC) gained 3% on May 1 as a new month saw shorts struggle to keep price pinned. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView Bitcoin pressures shorts after 3% daily gains Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $96,955 on Bitstamp, its highest since Feb. 22. Increasingly close to six figures, Bitcoin rose with US stocks at the Wall Street open as Microsoft gained 10% to become the world’s highest-valued public company. Reacting, popular trader Daan Crypto Trades suggested that stocks may be on the cusp of a…