KEYTAKEAWAYS
- ZachXBT has uncovered a sophisticated BTC phishing scam targeting an elderly investor, with 3,520 BTC stolen through social engineering tactics, highlighting the vulnerability of older crypto holders to personalized scams.
- Ten US Senators have withdrawn support for the updated GENIUS stablecoin act, including four Democrats who previously backed it, citing insufficient protections in anti-money laundering, national security, and financial system safety.
- Arizona's Governor Hobbs vetoed the state's Bitcoin reserve bill, while Warren Buffett announced Greg Abel will replace him as Berkshire Hathaway CEO at year's end, ending his historic run as head of the $1.2 trillion conglomerate.
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. ZachXBT Tracks BTC Phishing Scam Targeting Elderly Investor
On-chain investigator ZachXBT has shed light on a BTC phishing case where 3,520 BTC was stolen from a single wallet belonging to an elderly investor. The heist was noticed when Monero (XMR) rallied to a one-year high as the thief attempted to cash out through an anonymous coin.
ZachXBT tracked and froze $7 million with the help of other investigators and Binance’s security team. The scam was traced to two social media personalities, Nina/Mo and W0rk, operating from the UK, who deleted their accounts but left tracks on the Bitcoin chain.
The victim, based in the USA, had little security when holding BTC after moving funds to a new address about a month ago. Some funds remain in addresses with smaller holdings split into 5 BTC sums, while 17 BTC was sent to a KuCoin hot wallet. The theft pattern of targeting elderly investors remains valid, though most confidence scams typically use stablecoins.
2. Deribit Considering US Market Entry Amid Favorable Regulatory Climate
According to Cointelegraph, crypto options exchange Deribit is re-evaluating the possibility of entering the US market. CEO Luuk Strijers cited the recent friendly US regulatory attitude toward cryptocurrencies as a key factor driving expansion considerations.
Deribit, headquartered in Dubai, has reportedly been in negotiations with Coinbase on a potential acquisition. Both parties have notified Dubai regulators that if the transaction occurs, Deribit’s license would need to be transferred to Coinbase.
3. Ondo Finance Expands USDY Token to Solana Network
Ondo Finance has announced the expansion of its US Dollar-pegged bond token, USDY, to the Solana network. This strategic move aims to increase accessibility and utility of its stablecoin, which maintains a 1:1 peg with the US Dollar.
By integrating with Solana, Ondo seeks to leverage the network’s high-speed and low-cost transactions to attract more users and developers. The integration is expected to offer faster transaction times and lower fees compared to other blockchain networks, making USDY a more attractive option for high-frequency trading and cost-conscious users.
4. Arizona Governor Vetoes State Bitcoin Reserve Bill
Arizona Governor Katie Hobbs vetoed a bill on Friday that would have allowed the state to hold Bitcoin as part of its official reserves. Senate Bill 1025 proposed using seized funds to invest in BTC and create a digital assets reserve managed by the state.
“The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments. Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currency,” Hobbs wrote.
The veto ends a push that could have made Arizona the first state to set up a cryptocurrency reserve, potentially outpacing the U.S. Treasury Department.
5. Federal Reserve Expected to Maintain Current Interest Rate Policy in May
The Federal Reserve is widely expected to maintain its current interest rate policy in May, with a 97.2% probability of keeping rates unchanged. This assessment is based on market expectations for Federal Reserve policy decisions.
The decision to keep interest rates unchanged is likely influenced by factors including the current state of the economy and the Fed’s ongoing efforts to manage inflation and support economic growth. The high probability suggests a strong consensus among market participants that the central bank will not alter its monetary stance in the near term.
NOON NEWS
1. Toledo Museum of Art to Showcase 12 CryptoPunk NFTs
The Toledo Museum of Art in Ohio will showcase 12 CryptoPunk NFTs in its upcoming exhibition, ‘Infinite Images: The Art of Algorithms,’ opening on July 12. The featured CryptoPunks include #635, #6649, #3990, #2646, #550, #4153, #2073, #8557, #223, #6669, #419, and #9833.
This exhibition highlights the intersection of digital art and algorithmic processes.
2. Superseed Opens SUPR Token Claims on May 5
The lending platform Superseed announced on X that SUPR tokens will be open for claiming at 22:00 Beijing time on May 5. There is no deadline for claiming, but tokens can only be claimed on the Superseed mainnet.
3. Warren Buffett Announces Greg Abel as Berkshire Hathaway CEO Successor
At Berkshire Hathaway’s annual meeting, Warren Buffett announced he will ask the board to have Greg Abel replace him as CEO at year’s end. While the 62-year-old Abel was designated as successor in 2021, the timing announcement came as a surprise to shareholders.
Buffett praised Abel’s hands-on managerial style, saying it works better for Berkshire’s 60+ subsidiaries. The 94-year-old Buffett will remain as a non-operational consultant, though Abel will have the final word on operations and capital allocation.
Abel, who joined Berkshire in 2000 and became MidAmerican Energy CEO in 2008, said he will continue Buffett’s patient value investing philosophy and stands ready to deploy Berkshire’s $347 billion cash position. The pair will discuss Buffett’s formal role going forward, including whether Abel will also assume the chairman position.
4. Ten US Senators Oppose Updated GENIUS Stablecoin Act
On May 4, 2025, ten U.S. Senators released a joint statement opposing the updated “GENIUS Act” stablecoin regulation bill. The senators cited concerns including insufficient anti-money laundering provisions, national security, and financial system security.
Notable among the signatories were four Democratic Senators—Gallego, Warner, Kim, and Blunt Rochester—who had supported the original version during the March Banking Committee hearing. Co-sponsor Angela Alsobrooks did not sign the letter.
The Senators stated they need “stronger provisions on anti-money laundering, foreign issuers, national security, preserving the safety and soundness of our financial system, and accountability for those who don’t meet the act’s requirements.”
EVENING NEWS
1. Binance Partners with Kyrgyzstan to Drive Crypto Payment Adoption
Binance has entered a strategic partnership with Kyrgyzstan’s National Investment Agency to drive crypto payment adoption and enhance digital finance education nationwide. The partnership formalizes a Memorandum of Understanding to expand digital asset use in Kyrgyzstan.
Under the arrangement, Binance Pay will be introduced to support seamless crypto payments across the region, simplifying international money transfers between Kyrgyzstan, neighboring Central Asian countries, and EAEU members.
Binance Academy will collaborate with the Investment Agency to develop financial literacy programs. This marks another milestone in Binance’s role as a crypto policy partner, following similar agreements with Pakistan and other nations.
2. French Police Rescue Cryptocurrency Millionaire’s Father After Kidnapping
French police rescued the father of a cryptocurrency millionaire in a nighttime raid after he was abducted earlier this week. Police located the hostage in a house in the Essonne region south of Paris and freed him on Saturday night.
The victim was treated for injuries, with French media reporting hostage-takers cut off one of his fingers. Police detained five people in connection with the incident, and the investigation includes charges of kidnapping “with torture or a barbaric act.”
A police source reported the kidnappers demanded a ransom between €5-7 million ($5.7-7.9 million). This appears to be another incident in a recent criminal trend in France where cryptocurrency millionaires are held hostage for ransom.
3. Solana Domain Service Hints at Airdrop for .sol Domain Holders
The Solana domain name service, sns.sol, posted a cryptic message suggesting a potential airdrop for .sol domain holders. The post included a picture of a parachute landing, hinting that every holder of a .sol domain would soon understand its significance.
This has sparked speculation within the crypto community, as airdrops are often used to reward early adopters and incentivize network participation. While the specifics remain unconfirmed, such a move could boost adoption of the domain name service and increase .sol domain values.
4. Pro-Crypto Senate Democrats Oppose Stablecoin Legislation
Nine Democratic Senators who have previously supported industry-friendly crypto legislation stated they would oppose the GOP-led stablecoin bill if it reaches the floor in its current form. Four Democrats who voted for the bill in the Senate Banking Committee—Gallego, Warner, Blunt Rochester, and Kim—signed the statement.
The lawmakers wrote that “the bill as it currently stands still has numerous issues that must be addressed” and would not vote for cloture if the current version comes to the floor. They cited needs for stronger provisions on anti-money laundering, foreign issuers, national security, and financial system safety.
Notably, the two Democratic co-sponsors of the bill—Senators Kirsten Gillibrand and Angela Alsobrooks—did not sign the statement. This development could jeopardize the bill’s path forward as it needs support from at least seven Democrats to pass the Senate.
5. Musk Jokes About Regretting Support for Trump, Then Clarifies Support
In a segment aired on Saturday, Lara Trump asked Elon Musk if he regrets supporting Trump’s campaign. Musk jokingly replied ‘Yes,’ but quickly retracted to say ‘No,’ telling someone off-camera to ‘cut that part.’
Musk explained that he ‘was joking’ and reiterated his support for Trump: ‘I think it’s crucial for President Trump to win the election,’ adding that last November’s victory is vital for keeping America great.
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