Mapping Out the Senate Stablecoin Bill’s Next Steps

House Republicans unveiled a discussion draft of a market structure bill but all eyes this week were on the Senate, where a largely bipartisan effort to advance stablecoin legislation ran up against a wall. PS: I’ll be in Toronto next week for Consensus. In town? Come say hi. You’re reading State of Crypto, a CoinDesk…

Bitcoin holds the bulk of its gains from this week’s rally to $100,000, altcoins turn bullish

Key points: Bitcoin holding $100,000 as a level of support would confirm the current trend change. Ether leads among altcoins, and DeFi tokens could follow. Bitcoin (BTC) broke above the psychologically critical $100,000 level on May 8, and the bulls are trying to hold on to the level on May 9. In an X post,…

Robert Kiyosaki says ditch ‘fake money’ for Bitcoin, gold, and silver

Robert Kiyosaki, businessman and best-selling author of Rich Dad Poor Dad, is once again sounding the alarm on the dangers of centralized monetary policy, urging his followers to abandon what he calls “fake money” and adopt alternatives like Bitcoin, gold, and silver. In a May 10 post on X, Kiyosaki backed a hardline stance against…

RedotPay enters South Korea with crypto-powered payment cards

Hong Kong-based fintech firm RedotPay has reportedly launched its cryptocurrency-enabled payment cards in South Korea, positioning itself as a potential disruptor in a market dominated by traditional credit card firms and mobile payment services. The company’s crypto debit cards—both physical and virtual—are now accepted at all Korean merchants that support Visa, according to a May…

Ethereum price greenlit for further upside after surprise 29% ETH rally

Key takeaways: ETH price rallied by 22% on May 8, but demand for spot ETH ETFs and derivatives remains muted.  President Trump’s reversal on certain altcoins aligns with ETH’s renewed outlook.  Ether (ETH) posted an impressive 29% gain between May 8 and May 9, likely marking the end of a 10-week bear market that bottomed…

As Meta Said to Mull Tokens, U.S. Senator Warren Calls for Blocking Big Tech Stablecoins

Tech titan Meta (META) has reportedly been looking into the possibility of a return to the stablecoin market after having spurred a U.S. regulatory backlash from its efforts in years past, and U.S. Senator Elizabeth Warren told CoinDesk that the pending legislation to govern stablecoins needs to insist that’s not possible. A high-stakes crypto bill…

Bitcoin holds the bulk of its gains from this week’s rally to $100,000, altcoins turn bullish

Key points: Bitcoin holding $100,000 as a level of support would confirm the current trend change. Ether leads among altcoins, and DeFi tokens could follow. Bitcoin (BTC) broke above the psychologically critical $100,000 level on May 8, and the bulls are trying to hold on to the level on May 9. In an X post,…

BlackRock, crypto task force discuss ETP staking, tokenization

Wall Street giant BlackRock met with the Securities and Exchange Commission (SEC) Crypto Task Force to discuss staking within crypto exchange-traded products (ETPs) and tokenization of securities. The discussion could advance institutional interest in the crypto industry. According to a May 9 memo published by the task force, BlackRock sought to “[d]iscuss perspectives on treatment…

Solana price gained 500% the last time this SOL metric turned bullish

Key Takeaways: Solana’s 15% surge and potential close above the 50-week EMA signal strong bullish momentum, which previously led to a 515% rally in 2024. The $120 million in liquidity bridged to Solana reflects growing network confidence. Solana (SOL) price gained 18% this week, signaling rising bullish momentum. The altcoin is approaching a pivotal point,…

Bitcoin holds the bulk of its gains from this week’s rally to $100,000, altcoins turn bullish

Key points: Bitcoin holding $100,000 as a level of support would confirm the current trend change. Ether leads among altcoins, and DeFi tokens could follow. Bitcoin (BTC) broke above the psychologically critical $100,000 level on May 8, and the bulls are trying to hold on to the level on May 9. In an X post,…