Day

May 23, 2025

US DOJ seizes $24M in crypto from accused Qakbot malware developer

May 23, 20250
The US Department of Justice (DOJ) has filed a civil forfeiture complaint to seize more than $24 million in cryptocurrency from Rustam Rafailevich Gallyamov, a Russian national accused of developing the Qakbot malware.According to a May 22 announcement, the DOJ unsealed charges against the 48-year-old Moscovite with a federal indictment. Gallyamov is allegedly the malware developer behind the...

US Bitcoin ETFs near record month after $1.5B inflows in 2 days

May 23, 20250
Spot Bitcoin exchange-traded funds (ETFs) in the United States are heading for a record-breaking month, helping push Bitcoin to new all-time highs amid rising institutional demand.The US-listed spot Bitcoin (BTC) ETFs recorded more than $1.5 billion in combined inflows over a two-day period, with $608 million on May 21 and $934 million on May 22,...

Ledn ditches ETH, shifts to full custody model for Bitcoin loans

May 23, 20250
Digital asset lender Ledn is transitioning to fully collateralized Bitcoin lending and discontinuing support for Ethereum, in moves designed to consolidate its BTC-focused business and further safeguard client assets against credit risks.In adopting a full custody structure for Bitcoin (BTC) loans, Ledn will no longer lend out client assets to generate interest, the company disclosed...

Washington moves on crypto: Stablecoin and blockchain bills signal regulatory momentum

May 23, 20250
In this week’s episode of Byte-Sized Insight, on Decentralize with Cointelegraph, we break down a pivotal moment for US crypto legislation. In a 66–32 procedural vote on May 19, the US Senate advanced the GENIUS Act, a landmark bill aimed at establishing a comprehensive regulatory framework for stablecoins. Meanwhile, across the Capitol, Representative Tom Emmer reintroduced...

CZ refutes claims in latest WSJ article on Trump-linked crypto dealings

May 23, 20250
Binance co-founder and former CEO Changpeng “CZ” Zhao has pushed back against a report in The Wall Street Journal, calling it a “hit piece” filled with inaccuracies and negative assumptions. In an X post, Zhao criticized the publication’s portrayal of his alleged involvement with World Liberty Financial, the decentralized finance project backed by a business entity...

Genius Group resumes Bitcoin buying after US court ruling

May 23, 20250
Singapore-based artificial intelligence firm Genius Group has added more Bitcoin to its corporate treasury after being temporarily banned from doing so.In a May 22 announcement, Genius Group explained that it has resumed accumulating Bitcoin (BTC) following a favorable ruling by the US Court of Appeals. It follows Genius Group being temporarily barred from expanding its...

Bitcoin's new all-time high has traders asking: Is BTC price overheating at $111K?

May 23, 20250
Key takeaways:Bitcoin hit a new all-time high of $111,970 on May 22, but retraced to $110,700, with analysts noting mixed signals on market overheating.Funding rates and other metrics suggest a “healthy upward phase.”Bitcoin’s (BTC) price recorded a new all-time high of $111,970  on May 22. However, BTC price retraced shortly after to trade at $110,700...

Cetus offers $6M bounty after $220M hack as Sui faces decentralization debate

May 23, 20250
Cetus is offering a $6 million white hat bounty in an effort to recover $220 million in stolen digital assets, while emergency responses from the Sui Network have raised concerns about decentralization.Sui-native decentralized exchange (DEX) Cetus was exploited for over $220 million worth of cryptocurrency on May 22. However, Cetus managed to freeze $162 million...

DeFi near-zero onboarding costs can help 1.4B unbanked: 1inch co-founder

May 23, 20250
Decentralized finance (DeFi) platforms have a major cost advantage over traditional banks when it comes to onboarding new users, according to Anton Bukov, co-founder of decentralized exchange (DEX) 1inch.Speaking at a panel during Dutch Blockchain Week on May 22 in Amsterdam, Bukov said traditional banks spend between $100 and $300 per user to verify documents...

Hyperliquid backs 24/7 crypto trading in CFTC comments submission

May 23, 20250
Hyperliquid, a decentralized perpetuals exchange operating on its own layer-1 blockchain, has submitted formal comments on 24/7 derivatives trading to the United States Commodity Futures Trading Commission (CFTC).In a May 23 X post, Hyperliquid Labs announced that it has “submitted two comment letters to the [CFTC] in response to its recent Requests for Comment on...
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