KEYTAKEAWAYS
- US Vice President JD Vance will speak at Bitcoin 2025 in Las Vegas, following President Trump's appearance at last year's conference before his election victory.
- Democratic senators are raising concerns about Trump's crypto industry connections, blocking a stablecoin regulation bill while questioning his family's business ties to Binance.
- Institutional involvement in Bitcoin continues to evolve, with MicroStrategy acquiring coins faster than they're mined while Sovereign Wealth Funds await clearer US regulations.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. VP Vance to Speak at Bitcoin 2025 Conference in Las Vegas
US Vice President JD Vance will deliver a speech at the Bitcoin 2025 conference in Las Vegas later this month. Last July, President Trump spoke at the Bitcoin 2024 conference in Nashville, Tennessee, before winning the November election and returning to the White House.
2. BlackRock Discusses Crypto ETF Options with SEC Working Group
BlackRock representatives met with the SEC Crypto Working Group to address cryptocurrency regulation issues, focusing on pledge functions for ETPs and parameters for crypto ETF option positions. The discussion included liquidity thresholds, exercise limits, and specific criteria for approving crypto ETFs.
3. Indonesia May Delete 500,000 World Platform Retinal Records
Indonesia’s Ministry of Communications and Digital (Komdigi) is considering deleting 500,000 retinal data records collected by World platform due to potential data leak concerns. World, which offered 800,000 rupiah ($48.34) to users undergoing retinal scans, has ceased all scanning operations in Indonesia after its operating license was revoked. The company clarified that its Worldcoin cryptocurrency is not used for compensation but offered as an optional incentive.
4. TeraWulf Reports $61.4M Q1 Loss, Revenue Down After Bitcoin Halving
Bitcoin mining company TeraWulf announced a Q1 2025 net loss of $61.4 million, significantly higher than the $9.6 million loss in the same period last year. Revenue fell to $34.4 million while costs rose to $24.5 million (71.4% of revenue), more than double the 34% ratio from last year. The company attributed the decline to Bitcoin halving, increased network difficulty, and severe weather affecting operations in New York State.
5. Democratic Senators Question Trump’s Binance Ties, Potential Conflicts of Interest
Democratic senators have sent a letter to Attorney General Pam Bondi and Treasury Secretary Scott Bessent expressing concerns about President Trump’s ties to Binance and potential conflicts in industry regulation. The senators requested updates on Binance’s compliance with its $4 billion settlement agreement from November 2023. Concerns have grown since Trump’s election victory, with lawmakers citing his memecoin launch and his family-backed World Liberty Financial’s announcement of a $2 billion investment from Abu Dhabi-based MGX, settled using Binance’s USD1 stablecoin. These developments coincided with senators blocking a vote on the GENIUS Act stablecoin regulation bill.
NOON NEWS
1. Cointelegraph X Account Compromised, Sent Phishing Links
Cointelegraph’s official X account was reportedly compromised and sent fraudulent links to platform authors. Crypto influencer @thedefiedge reported receiving a private message asking him to review content via a link that led to a fake login page with the misspelled domain “Cointetegraph.” Earlier reports indicated the account had posted an on-chain token contract with comments disabled. The tweet has since been deleted.
2. Gate.io Announces Partnership with Inter Milan, Signs Goalkeeper Yann Sommer
Cryptocurrency trading platform Gate.io has become Inter Milan’s official sleeve sponsor and announced Swiss goalkeeper Yann Sommer as a Gate.io Friend. The partnership includes a creative brand film integrating the goalkeeper’s protective role with the platform’s security concept. Gate.io serves over 22 million users with reserves exceeding $10 billion (ranking fourth globally) and a 128.58% reserve rate, demonstrating strong capital reserves and risk management capabilities.
3. Scaramucci: Sovereign Wealth Funds Already Buying Bitcoin, Major Allocations Await US Regulation SkyBridge founder Anthony Scaramucci believes Sovereign Wealth Funds are already investing in Bitcoin “on the margin,” but significant allocations won’t happen until the US establishes clearer regulations. Scaramucci, who previously worked in the Trump administration, expects cryptocurrency legislation to be proposed in November. He predicts that once stablecoin regulation is passed and guidance for traditional banks to custody digital assets is provided, “large blocks of buying” from funds managing $10-30 trillion will follow, potentially pushing Bitcoin toward $1 million.
4. “Smart Money” Takes $3.53M Profit on PEPE After Earlier WBTC Success
On-chain analyst @ai_9684xtpa reports that an investor who previously made a $14.26 million profit trading WBTC has now made another $3.53 million profit on PEPE. The trader allegedly sold 1 trillion PEPE (worth approximately $12.48 million) over 14 hours, while still holding another 1 trillion PEPE with an unrealized profit of $3.52 million, based on an average purchase price of $0.00000895.
5. MicroStrategy’s Saylor: Bitcoin Below $150K Due to “Rotation” of Holders
MicroStrategy founder Michael Saylor attributes Bitcoin’s failure to reach $150,000 to a “rotation” of investors, with non-committed holders selling while a new cohort enters the market. Saylor noted that many Bitcoin holdings were in the hands of governments, lawyers, and bankruptcy trustees who lack a “10-year investor mindset” and sold during recent price rallies. MicroStrategy currently holds 555,450 Bitcoin valued at approximately $57.23 billion, with holdings 50.27% above their average purchase price of $68,569.
EVENING NEWS
1. Spain Imposes Reporting Requirements on Cash Withdrawals, Prompting Digital Euro Concerns
CitizenX CEO Alex Recouso reported that Spain will fine individuals 3,000 euros for failing to report cash withdrawals exceeding 150 euros within 24 hours. In response, Tether CEO Paolo Ardoino commented that “The atmosphere of the digital euro has intensified,” suggesting these controls may accelerate digital currency adoption.
2. CryptoQuant CEO: Bitcoin Becoming Deflationary as MicroStrategy Buys Faster Than Mining Rate
Ki Young Ju, founder and CEO of CryptoQuant, stated that Bitcoin is becoming deflationary as MicroStrategy (now Strategy) acquires Bitcoin faster than it’s being mined. The company holds approximately 555,000 Bitcoins with no plans to sell, creating an effective annual deflation rate of -2.23%. Ki suggests the deflation rate for Bitcoin held by other stable institutional holders may be even higher.
3. Former Binance CEO CZ Meets with Bhutan Royalty, Introduces Sign Protocol
Former Binance CEO Changpeng “CZ” Zhao shared photos with the King and Queen of Bhutan on X, noting he was happy to visit them in 2023. He mentioned introducing Sign, an on-chain infrastructure for token distribution from the YZi Labs portfolio, to the King of Bhutan.
4. Trader James Wynn Accumulates $46.5M Profit on Hyperliquid in Two Months
According to Lookonchain monitoring, legendary trader James Wynn has been actively trading on Hyperliquid since March 13, accumulating $46.5 million in profits in less than two months. His current positions include: 40x long BTC (unrealized profit: $5.4M), 10x long PEPE ($23.8M profit), 10x long TRUMP ($5.57M profit), 5x long FARTCOIN ($5.15M profit), and 5x long HYPE ($31,400 profit).
5. High-Level US-China Economic Talks Begin in Geneva
High-level economic and trade talks between China and the United States commenced in Geneva, Switzerland on May 10. He Lifeng, Political Bureau member and Vice Premier of the State Council, represented China in discussions with US Treasury Secretary Scott Bessent.
