Month: May 2025

World Liberty Financial brushes off oversight concerns from Congress

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Zach Witkoff, one of the co-founders of the Donald Trump family-backed crypto platform World Liberty Financial (WLFI), has rebuffed efforts by US lawmakers to investigate the president’s potential conflicts of interest. In a May 15 letter to Senator Richard Blumenthal, lawyers for World Liberty Financial claimed a call to investigate the crypto platform was based on “fundamentally flawed premises and inaccuracies.” Witkoff did not specifically address any allegations, claiming that WLFI was “too busy building” for oversight. “The Company rejects the false choice between innovation and oversight,” said the letter.…

SEC hacker sentenced to 14 months in prison

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A federal judge sentenced Eric Council Jr., who participated in posting a fake announcement on the US Securities and Exchange Commission’s X account saying it would approve spot Bitcoin (BTC) ETFs, to 14 months in prison. Following a May 16 hearing in the US District Court for the District of Columbia, the Justice Department announced that Council would serve 14 months in prison after pleading guilty to one count of conspiracy to commit aggravated identity theft and access device fraud. “Schemes of this nature threaten the health and integrity of…

CFTC commissioner to leave agency on May 31

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Christy Goldsmith Romero of the US Commodity Futures Trading Commission (CFTC) will step down on May 31, leaving three seats open at the financial regulator. In a May 16 announcement, Romero said her last day at the agency would be on May 31, ahead of her reported initial plans to leave if the Senate confirmed former commissioner Brian Quintenz as the new chair. Her departure will come a day after Commissioner Summer Mersinger is expected to step down to join the crypto advocacy organization the Blockchain Association as CEO. “It…

Webull Pay Joins Forces With Leading US-Based Exchange Coinbase To Power Crypto Services

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A crypto trading app is joining forces with the top US-based crypto exchange by volume to power its digital asset services. In a new company blog post, Coinbase says that mobile trading app Webull chose it to power its trading services using Coinbase’s Crypto-as-a-Service (CAAS) platform. Says Coinbase, “As Webull Pay’s partner for trading, custody, staking, and [the stablecoin] USDC, Coinbase will provide Webull Pay access to tight spreads, deep liquidity, secure infrastructure, and crypto products with the potential to earn income – all using the same technology trusted by…

Basel Medical stock drops on Bitcoin buying plans

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Shares of Basel Medical Group are down around 15% after the healthcare company announced plans to buy $1 billion in Bitcoin for its corporate treasury.  On May 16, Singapore-based Basel said it was “in advanced discussions with a consortium of institutional investors and high-net-worth individuals […] to acquire a US$1 billion BTC through an innovative share-swap arrangement. The company said the benefits of its planned purchase include creating “one of the strongest balance sheets among Asia-focused healthcare providers” and providing “unmatched financial flexibility for mergers and acquisitions.” It also said…

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Nvidia regulatory filings drive CRWV stock higher

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Shares of AI cloud computing company CoreWeave (CRWV) surged on May 16 after chip giant Nvidia revealed a large ownership stake, signaling growing corporate and institutional interest in the newly public company. CRWV stock climbed as much as 26.3% in New York trading, pushing its market capitalization above $38 billion. Trading volumes were more than double the daily average, according to Yahoo Finance data. The stock was last seen trading around $81, up 23% on the day. CRWV has climbed to $81 a share on May 16. Source: Yahoo Finance…

XRP Drops After Ripple Hits Legal Roadblock

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They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer…

Bitcoin breaks out while Coinbase breaks down: Finance Redefined

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News broke on May 15 that Coinbase was the target of a $20 million extortion attempt after cybercriminals recruited overseas support agents to leak user data for social engineering scams. While less than 1% of Coinbase’s active monthly users were reportedly affected, the expected remediation and reimbursement expenses range from $180 million to $400 million, as the exchange pledged to repay all phishing attack victims. Despite the attack on the world’s third-largest cryptocurrency exchange, investor sentiment remains optimistic, with the Fear & Greed Index remaining firmly in the “Greed” zone…

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