Brazil fintech gets approval to become a Bitcoin treasury company
Méliuz’s executive chairman says his fintech firm has become Brazil’s first publicly-traded Bitcoin treasury company following shareholder approval, with the firm also announcing it bought $28.4 million worth of Bitcoin to add to its existing stack.“Historic day! Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil,” Israel Salmen posted to X on May 15.Salmen said the firm snapped up 274.52 Bitcoin (BTC) for an average purchase price of $103,604, achieving a BTC yield of 600%. Méliuz now holds 320.3 Bitcoin, worth a little over $33 million, with the latest purchase adding to the Brazilian fintech firm’s first purchase of 45.73 Bitcoin on March 6.Details of Méliuz’s latest Bitcoin purchase. Source: Israel SalmenIn a May 15 statement, Méliuz said it would accumulate Bitcoin in an “accretive way” for shareholders using a range of financial instruments.“Rather than just allocating part of its cash to Bitcoin as a hedge against inflation or currency devaluation, the Company has repositioned its purpose to act by maximizing the amount of Bitcoin per share.”According to Salmen, Méliuz is the first Bitcoin treasury company in Latin America because the planned Bitcoin investments are now part of its “business strategy.”BitcoinTreasuries.NET data shows that e-commerce platform MercadoLibre holds more, with over 570 Bitcoin, worth $59.2 million, after its latest purchase of 157.7 Bitcoin on March 31.Méliuz has been one of Brazil’s top-performing stocks of lateMéliuz (CASH3.SA) has been one of the best-performing stocks on the Brasil Bolsa Balcão since the firm announced its first Bitcoin purchase on March 6, increasing more than 117% since then, according to Google Finance data.Méliuz’s market cap now sits at 727.9 Brazilian real, or more than $128 million.Related: ‘The world is trying to hoard Bitcoin right now’ — Eric TrumpThe fintech firm is well-known for its cashback program and serves over 30 million users across Brazil.Source: Israel SalmenMagazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee
AI scammers are now impersonating US government bigwigs, says FBI
Deepfake-assisted hackers are now targeting US federal and state officials by masquerading as senior US officials in the latest brazen phishing campaign to steal sensitive data. The bad actors have been operating since April, using deepfake voice messages and text messages to masquerade as senior government officials and establish rapport with victims, the FBI said in a May 15 warning. “If you receive a message claiming to be from a senior US official, do not assume it is authentic,” the agency said. If US officials’ accounts are compromised, the scam could become far worse because hackers can then “target other government officials, or their associates and contacts, by using the trusted contact information they obtain,” the FBI said. As part of these scams, the FBI says the hackers are trying to access victims’ accounts through malicious links and directing them to hacker-controlled platforms or websites that steal sensitive data like passwords. Source: FBI“Contact information acquired through social engineering schemes could also be used to impersonate contacts to elicit information or funds,” the agency added. Crypto founders targeted in separate deepfake attacks In an unrelated deepfake scam, Sandeep Narwal, co-founder of blockchain platform Polygon, raised the alarm in a May 13 X post that bad actors were also impersonating him with deepfakes. Nailwal said the “attack vector is horrifying” and had left him slightly shaken because several people had “called me on Telegram asking if I was on zoom call with them and am I asking them to install a script.” Source: Sandeep NarwalAs part of the scam, the bad actors hacked the Telegram of Polygon’s ventures lead, Shreyansh and pinged people asking to jump in a Zoom call that had a deepfake of Nailwal, Shreyansh and a third person, according to Nailwal. “The audio is disabled and since your voice is not working, the scammer asks you to install some SDK, if you install game over for you,” Nailwal said. “Other issue is, there is no way to complain this to Telegram and get their attention on this matter. I understand they can’t possibly take all these service calls but there should be a way to do it, maybe some sort of social way to call out a particular account.” At least one user replied in the comments saying the fraudsters had targeted them, while Web3 OG Dovey Wan said she had also been deepfaked in a similar scam. Source: Dovey WanFBI and crypto founder says vigilance is key to avoid scams Nailwal suggests the best way to avoid being duped by these types of scams is to never install anything during an online interaction initiated by another person and to keep a separate device specifically for accessing crypto wallets. Related: AI deepfake attacks will extend beyond videos and audio — Security firmsMeanwhile, the FBI says to verify the identity of anyone who contacts you, examine all sender addresses for mistakes or inconsistencies, and check all images and videos for distorted hands, feet or unrealistic facial features. At the same time, the agency recommends never sharing sensitive information with someone you have never met, clicking links from people you don’t know, and setting up two-factor or multifactor authentication. Magazine: Deepfake AI ‘gang’ drains $11M OKX account, Zipmex zapped by SEC: Asia Express
Tornado Cash dev Roman Storm trial goes ahead with slight trim
US federal prosecutors are pressing ahead with their case against Tornado Cash founder Roman Storm, but will drop a small part of their indictment after the Department of Justice rolled back its crypto enforcement last month.Jay Clayton, the acting US Attorney for Manhattan, told federal court judge Katherine Polk Failla in a May 15 letter that the charges against Storm still stand, bar one part of a conspiracy to operate an unlicensed money transmitting business charge.“After review of this case, this Office and the Office of the Deputy Attorney General have determined that this prosecution is consistent with the letter and spirit of the April 7, 2025 Memorandum from the Deputy Attorney General,” Clayton wrote.Deputy Attorney General Todd Blanche’s April memo said the Justice Department would end the so-called “regulation by prosecution” of crypto, and added that the agency wouldn’t prosecute crypto mixers like Tornado Cash “for the acts of their end users or unwitting violations of regulations.”A highlighted excerpt of Blanche’s memo stating that the Department of Justice was rolling back its crypto enforcement. Source: US Department of JusticeClayton added that the indictment against Storm will cut the accusation that he failed to comply with money transmitting business registration requirements.Prosecutors were pursuing that charge as part of their allegation that Storm conspired to run Tornado Cash as an unlicensed money transmitter.The government will still push ahead with the charge under the accusation that Storm transmitted funds while knowing they were derived from a criminal offence or were intended to support unlawful activity. The Justice Department alleged that Tornado Cash helped launder over $1 billion worth of crypto, including for the sanctioned North Korean state-backed hacking collective the Lazarus Group.Clayton said the Justice Department will also still pursue the other two charges in its indictment, one count of money laundering conspiracy and one count of conspiracy to violate US sanctions.Related: NFT founder stole millions from Bitcoin project, investors allege The money laundering and sanctions violations conspiracy charges each carry a maximum sentence of 20 years in prison, while the unlicensed money transmitter conspiracy charge carries a maximum sentence of five years.Storm has pleaded not guilty, and his trial is scheduled for July 14. He was charged alongside fellow founder Roman Semenov, who is at large and believed to be in his native Russia.Blanche memo cited in bids to tossOther crypto executives facing charges have pointed to Blanche’s memo in a bid to have their cases dismissed.Crypto mixer Samourai Wallet co-founders Keonne Rodriguez and William Hill had pointed to the memo to try to dismiss their charges of conspiracy to operate an unlicensed money transmitter and money laundering conspiracy.Braden John Karony, the CEO of crypto firm SafeMoon, has also cited the memo in an attempt to have the charges of securities fraud, wire fraud and money laundering conspiracy against him dismissed.Legal Panel: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set
Wisconsin Investment Board sold off its Bitcoin ETF stash
The State of Wisconsin Investment Board (SWIB), which oversees the state’s retirement funds, unloaded its shares in BlackRock’s iShares Bitcoin Trust ETF (IBIT) during the first quarter, filings show.The Wisconsin Investment Board reported no spot Bitcoin ETF positions in its 13F filing to the US Securities and Exchange Commission on May 15, liquidating all 6,060,351 IBIT shares it reported holding from the previous quarter. The more than 6 million IBIT shares are worth around $355.6 million at current prices.SWIB was one of the first state investment funds to provide Bitcoin exposure to US retirees when it bought $164 million worth of Bitcoin ETFs in Q1 2024 — the same quarter the Bitcoin products launched.Source: Julian FahrerThe mass sell-off comes only a quarter after SWIB reported additional purchases of IBIT shares in Q4, while reallocating all 1 million shares held in the Grayscale Bitcoin Trust (GBTC) to IBIT.SWIB reported managing more than $166 billion worth of assets at the end of 2024, meaning the Bitcoin ETFs represented around 0.2% of SWIB’s entire portfolio before it sold them off. Related: Jim Chanos takes opposing bets on Bitcoin and StrategyMeanwhile, Abu Dhabi sovereign wealth fund Mubadala snapped up another 491,439 shares of IBIT in Q1, according to its latest 13F filing.Its purchases brought Mubadala’s total IBIT shares to 8,726,972 as of March 31, worth around $512 million at current prices.IBIT has been on a tearIBIT’s net inflows surpassed the $45 billion mark on May 14 after recording a net inflow of $232.9 million, Farside Investors data shows. IBIT’s impressive 20-day streak of net inflows came to an end the day before — May 13 — when it registered a “0” inflow on the day. The BlackRock-issued Bitcoin product still hasn’t seen an outflow since April 9 — more than five weeks ago.The Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARK) trail IBIT in all-time net inflows at $11.6 billion and $2.7 billion, respectively.Flow data of the 11 US-based spot Bitcoin ETFs since April 28. Source: Farside InvestorsMagazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
Legacy forex, payments platforms ‘hate’ stablecoin adoption — Kevin O’Leary
Global foreign exchange and payments platforms are lobbying hard against stablecoins, which stand to significantly disrupt their business models, investor Kevin O’Leary said during a keynote address at Consensus 2025. Legacy forex and payments platforms often extract large fees for servicing cross-border cash transfers and stand to lose out on revenue if regulated stablecoins become accepted as a cheaper, faster alternative, O’Leary said at the Toronto conference. “Currency trading is a multi-trillion dollar market — and it’s old and ugly and inefficient,” O’Leary said, adding that “[ t]he biggest threat to that monopoly or oligopoly is a regulated stablecoin.” “Once that’s approved, the multi-trillion dollar FX market becomes efficient, transparent, and inexpensive,” he said. Kevin O’Leary speaking at Consensus. Source: CointelegraphStablecoin legislationUS lawmakers are working on legislation that stands to accelerate global stablecoin adoption, O’Leary added. US Senators are aiming to pass the so-called Genius Act — a framework for regulating stablecoins — before the end of May. “As soon as the SEC approves the stablecoin act, every regulator in the US’s circle — Abu Dhabi, Switzerland, England — will follow,” O’Leary said.“Who’s worried about this? The financial services industry. They hate this idea, and they’re working very hard to stop that bill from happening right now,” he added.O’Leary said regulatory clarity for stablecoins may be a precursor to broader cryptocurrency reform that could potentially unlock trillions of dollars in institutional capital.“When this language comes out, people will see really good refinement, a lot of progress, on things like consumer protection, bankruptcy protection, and ethics,” US Senator Kirsten Gillibrand said during an event hosted by Coinbase's lobbying arm, Stand with Crypto.As of May 15, stablecoins are collectively worth nearly $250 billion in market capitalization, according to data from CoinGecko. Tether’s US-dollar pegged stablecoin USDT is the leader, with a market cap of around $150 million, the data showed. It’s followed by Circle’s USDC, another US-dollar pegged stablecoin with a market cap of more than $60 billion.Magazine: Bitcoin to $1M ‘by 2029,’ CIA tips its hat to Bitcoin: Hodler’s Digest, April 27 – May 3
Trump’s crypto ties ‘add a certain level of challenge’ to passing bills — Coinbase exec
Coinbase chief legal officer Paul Grewal addressed some of the concerns raised by US lawmakers and industry leaders around President Donald Trump’s crypto ventures, and how they may affect related legislation.Speaking at the Consensus conference in Toronto on May 15, Grewal said there had been “hiccups” in Congress since the Senate Banking Committee voted to advance the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, in March. Though Grewal said there were disputes over “substantial issues that need to be addressed” in the bill, he hinted that Trump’s involvement in the industry was a “complicating factor.” “The discussion around the president's support for a certain memecoin or two and other efforts does add a certain level of challenge to the effort to get Democrats and Republicans aligned on the right way to regulate the [spot market], but I have confidence that the Senate and the House are going to sort all that out,” said Grewal.Paul Grewal (right) on stage at Consensus in Toronto on May 15. Source: Cointelegraph.Democrats including Senator Elizabeth Warren explicitly called out the Trump family’s crypto venture, World Liberty Financial, and its USD1 stablecoin in opposing the GENIUS Act. However, some of the bill’s supporters, like Senator Kirsten Gillibrand, who proposed an earlier version of the legislation, said they would remove language specifically targeting the president’s crypto ventures.Related: Democrats seek suspicious activity reports linked to Trump crypto venturesWhatever the terms for modifications to the bill may be, many lawmakers still expect the Senate to take up another vote in a matter of days. Punchbowl reported on May 15 that Democrats “won major victories” after receiving assurances that some of their concerns around consumer protection, Anti-Money Laundering, and national security safeguards would be addressed.First stablecoins, then a market structure bill?The House of Representatives is also considering draft legislation for a digital asset market structure bill, a different iteration of the FIT21 bill that passed the chamber in May 2024. Democratic representatives have similarly pushed back on the legislation, citing “Trump’s crypto corruption.”"I think we're gonna learn a lot from the progress we see just in the next few days on stablecoins on the appetite to really tackle all these problems on any schedule that resembles the one that was laid out not long ago by the White House and certain leaders in Congress,” said Grewal.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
"The world is trying to hoard Bitcoin right now" — Eric Trump
There is an ongoing race across the world for Bitcoin accumulation, according to Eric Trump, the second-eldest son of US President Donald Trump. Speaking at a crypto conference in Toronto on May 15, Trump said that from families to government funds, “everybody in the world is trying to hoard Bitcoin right now.” The remarks came during a panel at Consensus 2025. Sharing the stage with Asher Genoot, the CEO of Bitcoin (BTC) mining company Hut 8, Trump said Bitcoin adoption has been incredible. “I'm traveling. I'm on a plane. Everybody in the world is trying to hoard Bitcoin right now. Everybody. I hear it from sovereign wealth funds. I hear it from the wealthiest families. I hear from the biggest companies.”Asher Genoot and Eric Trump at Consensus 2025. Source: CointelegraphTrump described what he sees as “two races in Bitcoin”: the accumulation race — currently led by Michael Saylor, he says — and the mining race, which marks his own involvement in the crypto space.President Trump's third child is co-founder of American Bitcoin, a Hut8 subsidiary. On May 12, the companies announced American Bitcoin would merge with Gryphon Digital Mining in a stock-for-stock transaction that will result with a public listing on the Nasdaq. Related: Bitcoin bulls aim for new all-time highs by next week as capital inflows soarTrump crypto ventures cause Democrats consternationThe size of Trump's family crypto ventures has grown considerably over several years from non-fungible token collections and mining to memecoins and a stablecoin. Critics say the ventures pose conflicts of interest and open the door to potential corruption.At various points, Democrats have called for investigations into Trump’s crypto-related activities, proposed legislation aimed at limiting potential financial gains by the Trump family from memecoins, and walked out of a joint hearing on digital assets, citing concerns over the lack of discussion around the president’s involvement in the crypto space.Senate Democrats withdrew their support for a bipartisan stablecoin bill amid ongoing scrutiny of the president’s crypto ventures, though a second voting session could come as soon as May 26.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading question
Bitcoin traders’ evolving view of BTC’s role in every portfolio bolsters $100K support
Key takeaway:Bitcoin’s struggles to overtake the $105,000 level as US macroeconomic headwinds remain a challenge. Steady inflows from institutional investors and the strength of the $100,000 support point to growing confidence in Bitcoin.Bitcoin (BTC) has struggled to break above $105,000 since May 10, leading traders to question whether the bullish momentum has faded. Although BTC managed to reclaim the $104,000 level, demand for leveraged long positions has dropped sharply, as indicated by the decline in the Bitcoin futures premium. Bitcoin 2-month futures annualized premium. Source: laevitas.chOn May 14, the annualized Bitcoin futures premium peaked at 7%, but then fell to 5%, which is near the neutral-to-bearish threshold and matches the level seen four weeks ago when BTC traded around $84,500. This decline in demand for leveraged bullish positions appears to be linked to broader macroeconomic uncertainty, since Bitcoin’s price has been closely following movements in the stock market.S&P 500 futures (left) vs. Bitcoin/USD (right), 30min. Source: TradingViewThe S&P 500 futures reversed early weakness on May 15, coinciding with Bitcoin’s rebound from $101,800 to $104,000. Investors seem more confident that the US Treasury will be compelled to inject liquidity after Federal Reserve Chair Jerome Powell warned that “supply shocks” could keep interest rates higher for longer than expected.Signs of economic weakness have also emerged. The US Bureau of Labor Statistics reported that April’s Producer Price Index fell 0.5% from the previous month, while economists surveyed by FactSet had anticipated a 0.2% rise. According to Reuters, investors’ limited risk appetite is also influenced by ongoing global trade tensions, as the US–China tariff agreement remains only a temporary solution.US 10-year Treasury yields. Source: TradingView / CointelegraphDemand for fixed income has increased, with the yield on the 10-year US Treasury dropping to 4.45% after reaching 4.55% on May 14, reversing the previous week’s trend. Historically, Bitcoin tends to perform better when government bond yields are rising, as this signals reduced confidence in the Treasury’s ability to manage its debt.Bitcoin’s rally to $105,000 hinges on macroeconomic trendsTo assess whether traders are simply avoiding leverage or actively betting on a price decline, it is helpful to analyze Bitcoin options demand. Typically, periods of bearish sentiment push the BTC delta skew indicator above the neutral 6% threshold.Bitcoin 60-day options delta 25% skew (put-call) at Deribit. Source: laevitas.chContrary to expectations, Bitcoin put (sell) options have been trading at a discount compared to call (buy) options, signaling strong confidence in the $100,000 support level. However, the optimism seen on May 14 has faded, with the indicator now at a neutral -4%.Related: What the 10-year Treasury yield means for crypto yields and stablecoinsSince Bitcoin’s price has closely mirrored the US stock market, the chances of breaking above $105,000 depend heavily on macroeconomic developments, such as trends in the US Federal Reserve’s balance sheet and recession risks. Notably, Bitcoin’s high correlation with the S&P 500 rarely persists for more than two months.Net inflows of $320 million into US Bitcoin exchange-traded funds (ETFs) on May 14 point to ongoing institutional demand. This suggests that investors are gradually shifting their perception of Bitcoin from a risk-on asset to a non-correlated instrument, which may reduce the likelihood of sharp price corrections, even in the absence of strong leveraged bullish positions.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Asset tokenization expected to speed capital flows, says Chainlink's Nazarov
Asset tokenization is set to accelerate the movement of capital across traditional markets, according to Chainlink co-founder Sergey Nazarov. Speaking with Cointelegraph at Consensus 2025 in Toronto, Nazarov said the shift will boost capital velocity in asset classes such as treasuries, equities, private credit, commercial debt, and real estate."I think that there are two sides to this equation. One is the asset, and the other one is the payment. So, you need more high-quality assets onchain, but you also need more frictionless payments that existing institutions can use easily," Nazarov said on May 14. The remarks came on the same day Chainlink announced a partnership with Kinexys, a blockchain network for institutional-grade tokenized assets by JP Morgan, and digital asset firm Ondo Finance. Together, the companies will develop payment rails for institutions trading tokenized real-world assets onchain.The partnership tested the exchange of Ondo's US Government Treasuries Fund (OUSG), a tokenized short-term US debt fund, with Kinexys, using Chainlink's Runtime Environment — a framework for connecting legacy financial systems to blockchains in a unified environment."What Chainlink is trying to do is kick off a virtuous cycle that triggers kind of a runaway success for the industry as a whole. We want more assets onchain, Nazarov added. "We want more payment systems onchain," he continued.From left to right: Colin Cunningham, Sergey Nazarov, Nelli Zaltzman and Nathan Allman at Consensus 2025. Source: Vince Quill/CointelegraphThe partnership reflects the broader institutional acceptance of cryptocurrencies and Web3 technologies, following a positive regulatory shift in the United States post-2024 elections and the resignation of Gary Gensler, former chair of the US Securities and Exchange Commission (SEC).Related: ‘Everything is lining up’ — Tokenization is having its breakout momentChainlink's runtime environment Chainlink is a decentralized oracle network that connects smart contracts on blockchains with real-world data, APIs, and offchain systems. Nazarov said the company has been coordinating transactions between financial institutions, asset issuers, and regulators.Chainlink markets its “Runtime Environment" as an upgrade to legacy financial systems' protocols, including the Common Business-Oriented Language (COBOL) standard — an operating language developed in 1959 for automated teller machines (ATMs) — and the Java Runtime architecture for online banking applications.Chainlink co-founder Sergey Nazarov speaking at Consensus 2025. Source: Vince Quill/CointelegraphNazarov previously stressed that the United States needs to establish a competitive moat around tokenized assets to keep US capital markets competitive and attractive in the age of global, permissionless finance.Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race
Bitdeer Q1 revenue falls more than 40% year-over-year
Bitdeer Technologies Group reported a 41% year-over-year drop in revenue to $70.1 million for the first quarter of 2025, the Bitcoin miner said on May 15. The Singaporean company clocked an operating loss of $3.2 million for the quarter, down from a $34.1 million profit during the same period last year, its earnings release said. However, Bitdeer reported a Q1 net income of more than $400 million, largely driven by gains on convertible notes and warrants issued to stablecoin issuer Tether in 2024.Bitdeer’s revenue declines come as miners increasingly expand beyond Bitcoin (BTC) mining and pivot toward supplying high-performance computing (HPC) for artificial intelligence applications. “As we scale self-mining and execute on our ASIC [mining hardware] roadmap, we are also advancing plans for U.S.-based HPC and AI infrastructure,” Matt Kong, Bitdeer’s chief business officer, said in a statement.But Bitcoin miners are still struggling to adapt after the Bitcoin network’s April 2024 halving event, which effectively cut mining revenue in half. Bitdeer has been trying to offset waning mining revenue by selling its own energy-efficient Bitcoin mining hardware. However, sales are still scaling and have not yet made up for lost mining income. Operational summary for Bitdeer in Q1 2025. Source: BitdeerRelated: Bitfarms clocks $36M net loss amid shift from Bitcoin mining to AISelf-mining ramp-upThe company is also ramping up self-mining activities, which involve using mining hardware to accumulate Bitcoin itself.Bitdeer expects its self-mining hashrate to reach 40 exahashes per second (EH/s) by the end of 2025, according to its earnings release. Hashrate is a measure of the computing power securing the Bitcoin network.“With our SEALMINER mining rigs quickly coming off the production line and ample global power capacity available, we expect to achieve rapid growth in our self-mining hashrate,” Kong said.As of March, Tether owned a 21% stake in Bitdeer, according to US regulatory filings.Bitdeer has been reportedly investing in its US expansion as a hedge against the prospect of worsening trade wars. Magazine: Help! My parents are addicted to Pi Network crypto tapper
