Shares of video game and collectibles retailer GameStop dropped nearly 11% on May 28 after the company announced its first Bitcoin purchase, triggering a classic sell-the-news reaction. The stock closed at $31.21 on the New York Stock Exchange, according to Google Finance. The company announced the purchase of 4,710 Bitcoin (BTC) valued at roughly $513 million on May 28. GameStop confirmed plans to create a BTC treasury strategy on March 26, following months of investor speculation and rumors that it would begin accumulating the cryptocurrency.Trump Media and Technology Group (TMTG), the parent company of President Donald Trump’s Truth Social platform, also saw its shares plunge after announcing a $2.5 billion capital raise to purchase Bitcoin. Since the May 27 announcement, TMTG stock has dropped over 24%.GameStop’s stock has experienced a pullback following the company’s first Bitcoin purchase. Source: TradingViewGameStop’s move to adopt Bitcoin as a treasury reserve asset reflects a growing trend among companies turning to Bitcoin to safeguard cash reserves or reposition themselves as Bitcoin acquisition vehicles.Related: Bitcoin accepted at fast food chain Steak ’n Shake from May 16Bitcoin as a hedge against fiat currency inflationSpeaking at the Bitcoin 2025 conference in Las Vegas, Nevada, GameStop CEO Ryan Cohen said that “Bitcoin and gold can be hedges against global currency devaluation and systemic risk.” According to Cohen:"Bitcoin has certain unique advantages compared to gold. The portability aspect, it's instantly transferable across the globe, whereas gold is bulky and very expensive to ship, the authenticity is instantly verified via the blockchain. You can easily secure Bitcoin in a wallet, whereas gold requires insurance, and it is very expensive."The CEO also cited the absolute scarcity of Bitcoin and the potential for gold's inflation rate to increase due to technological advancements as a factor in favor of choosing Bitcoin over gold for long-term value storage.GameStop CEO Ryan Cohen discusses the rationale for the company’s Bitcoin acquisition. Source: Bitcoin MagazineBitcoin also has a greater potential upside since the digital asset is still in its infancy and continues to be monetized. according to Cohen.“Gold is a more mature market. It is roughly around $20 trillion in market capitalization, whereas Bitcoin today is about $2 trillion,” the GameStop CEO said.Magazine: Bitcoin miners steamrolled after electricity thefts, exchange ‘closure’ scam: Asia Express
Key point:Bitcoin’s market structure is still bullish, even as a phase of profit taking and consolidation sets in.Bitcoin (BTC) remains pinned below the breakout level of $109,588, indicating that the bears are fiercely defending the level. Bitfinex analysts said in a market note that profit-taking generally follows after Bitcoin hits a new all-time high after a sharp rally. The report added that a mild retracement or consolidation would be healthy and lay the foundation for the next leg higher.Glassnode had a similar view. In its latest report, the market intelligence company said that the relative strength indicator (RSI) has weakened, suggesting easing momentum, which could lead to “a potential pause or reversal in the recent bullish trend.”Crypto market data daily view. Source: Coin360Even if a correction happens, dips are likely to be purchased. Material Indicators co-founder Keith Alan remains bullish as Bitcoin continues to trade above $100,000, and the whales are accumulating. He expects Bitcoin to find support near the $94,000 level. What are the critical levels to watch out for in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price predictionBitcoin’s failure to maintain above the $109,588 level may have attracted selling by short-term traders. BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe bears will try to pull the price to the 20-day exponential moving average ($105,453), which is a key level to watch out for. If the price rebounds off the 20-day EMA with strength, it suggests that the sentiment remains positive and traders are buying on dips. That improves the prospects of a retest of the $111,980 level. If buyers overcome the $111,980 resistance, the BTC/USDT pair could surge to $130,000.Contrarily, a break and close below the 20-day EMA could strengthen the bears. The pair could then plummet to the psychologically crucial support of $100,000, which is likely to attract solid buying by the bulls.Ether price predictionBuyers could not push Ether (ETH) above the $2,738 resistance on May 27, but they have kept up the pressure.ETH/USDT daily chart. Source: Cointelegraph/TradingViewThe ETH/USDT pair has formed a bullish ascending triangle pattern, which will complete on a break and close above $2,738. That clears the path for a rally to $3,000 and later to the pattern target of $3,153.This optimistic view will be negated in the near term if the price turns down and breaks below the 20-day EMA ($2,467). The failure of a bullish setup may trap the aggressive bulls, sinking the pair to $2,323 and below that to $2,111.XRP price predictionXRP (XRP) has been trading between the moving averages, indicating a lack of aggressive buying or selling.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish 20-day EMA ($2.33) and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears. If the price dips below the 50-day SMA ($2.24), the XRP/USDT pair could dive to the $2 support. Buyers are expected to fiercely defend the $2 level because a break below it may sink the pair to $1.61.On the upside, a break and close above the 20-day EMA opens the gates for a rally to $2.65. Buyers will have to drive the pair above $2.65 to catapult the price to $3.BNB price predictionBuyers pushed BNB (BNB) above the $693 resistance on May 27 but could not sustain the higher levels.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe price action of the past few days has formed a bullish ascending triangle pattern, which will complete on a break and close above $693. If that happens, the BNB/USDT pair could rally toward the pattern target of $752.The 20-day EMA ($658) is the critical support to watch out for on the downside. A break and close below the 20-day EMA could accelerate selling as the aggressive bulls may cover their positions. That could tug the pair to the 50-day SMA ($622).Solana price predictionSolana (SOL) has been consolidating inside a narrow range between the 20-day EMA ($169) and the overhead resistance at $180.SOL/USDT daily chart. Source: Cointelegraph/TradingViewIf the price turns down and breaks below the 20-day EMA, it suggests that the bulls are booking profits. The SOL/USDT pair could descend to $159 and later to the 50-day SMA ($153), which is likely to attract buyers. If the price rebounds off the 50-day SMA, the pair could swing between $153 and $180 for some time.A break and close above $180 signals the resumption of the up move. The pair could pick up momentum and rally to the $210 to $220 resistance zone.Dogecoin price predictionSellers are trying to pull Dogecoin (DOGE) below the immediate support at the 20-day EMA ($0.22).DOGE/USDT daily chart. Source: Cointelegraph/TradingViewIf they succeed, the DOGE/USDT pair could drop to the horizontal support at $0.21. Buyers are expected to defend the $0.21 level with all their might because a break below it could sink the pair to the 50-day SMA ($0.19). Such a move brings the large $0.14 to $0.26 range into play.On the contrary, a rebound off $0.21 suggests the bulls are vigorously defending the level. That could keep the pair inside the $0.21 to $0.26 range for a few more days.Cardano price predictionBuyers have managed to keep Cardano (ADA) above the neckline of the inverse head-and-shoulders (H&S) pattern, but the bounce lacks strength.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThat increases the risk of a break below the 50-day SMA ($0.70). If that happens, the ADA/USDT pair could plunge to the solid support at $0.60. That suggests the markets have rejected the breakout from the bullish setup.Buyers will have to push the price above the $0.86 resistance to indicate the resumption of the up move. The pair may then rally to $1.01, where the bears may mount a strong defense.Related: SUI price chart hints at 2x rally amid Nasdaq ETF filingSui price predictionSui (SUI) turned down from the 20-day EMA ($3.66) on May 28, indicating that the sentiment remains negative and the traders are selling on rallies.SUI/USDT daily chart. Source: Cointelegraph/TradingViewThe bears will try to sink the SUI/USDT pair to the 50-day SMA ($3.24), which is a key level to keep an eye on. If the price rebounds off the 50-day SMA, the bulls will try to clear the 20-day EMA hurdle. If they can pull it off, the pair may rally to the $3.90 to $4.25 overhead zone.On the other hand, a break and close below the 50-day SMA suggests that the bears remain in control. The pair could then plunge to the $2.86 support.Hyperliquid price predictionHyperliquid (HYPE) turned down from $40 on May 26 and broke below the breakout level of $35.73 on May 28. HYPE/USDT daily chart. Source: Cointelegraph/TradingViewThere is support at $32, but if the level cracks, the HYPE/USDT pair could extend the slide to the 20-day EMA ($30). Buyers will try to start a bounce off the 20-day EMA but may face stiff resistance at $35.73.The first sign of strength will be a break and close above $35.73. That suggests solid demand at lower levels. The bulls will then make one more attempt to drive the pair to the overhead resistance of $42.25.Chainlink price predictionChainlink (LINK) continues to find support at the neckline of the H&S pattern, but the bulls have failed to start a strong rebound.LINK/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA ($15.66) is flattening out, and the RSI is near the midpoint, indicating a balance between supply and demand. Buyers will have to push the price above $18 to gain the upper hand. If they do that, the LINK/USDT pair could rally to $19.80.Instead, if the price turns down and breaks below the 50-day SMA ($14.68), it suggests that the markets have rejected the breakout above the resistance line. The pair could then drop to $13.20.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
JD Vance urges Bitcoin community to embrace politics
United States Vice President JD Vance took the stage to deliver a keynote address at the Bitcoin 2025 conference in Las Vegas, Nevada, encouraging Bitcoiners to deepen their involvement in politics.Vance highlighted the strategic and geopolitical importance of Bitcoin, emphasizing that the US should maintain leadership in the crypto industry to remain competitive in the age of digital finance. Vance told the audience:"What happens in the world of politics, what happens in the world of bureaucracy, will affect even the most transformational and valuable technologies if we do not make the right decisions. The first thing that I would ask you, is to take the momentum of your political involvement in 2024 and carry it forward to 2026 and beyond."“Don’t ignore politics because I guarantee you, my friends, politics is not going to ignore this community, not now, and not in the future,” the vice president continued.Vice President JD Vance gives a keynote speech at Bitcoin 2025 in Las Vegas, Nevada. Source: CointelegraphBitcoin continues to gain institutional legitimacy and has been elevated to an asset class with macroeconomic and geopolitical importance. Market analysts and Bitcoin advocates warn that the global race to acquire BTC is underway between sovereign powers.Related: Crypto czar Sacks says US could possibly ‘acquire more Bitcoin’Nation-state Bitcoin adoptionBitcoin maximalists and market analysts argue that high-stakes game theory compels nation-states to adopt BTC due to the downside or opportunity cost of not adopting the scarce digital asset as sovereign competitors do.This alleged nation-state’s fear of missing out (FOMO) was amplified by US President Donald Trump's pro-crypto stance, including the creation of a Bitcoin strategic reserve and a crypto advisory council.The regulatory shift in the United States prompted other governments to indicate a possible policy reset on cryptocurrencies and Bitcoin.The government of India, for instance, is reconsidering its crypto policies in response to regulatory changes in the US. India’s economic affairs secretary, Ajay Seth, said that digital assets do not care about borders.Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee
Conduit raises $36M for stablecoin, fiat cross-border payment network
Conduit, a cross-border payments company based in Boston, has raised $36 million in a Series A funding round led by Dragonfly and Altos Ventures. The capital will go to scale its payment system and expand currency offerings across fiat and stablecoins.Conduit markets its payment system as an alternative to the messaging network SWIFT, or Society for Worldwide Interbank Financial Telecommunications. Banks have relied on the SWIFT protocol to process wire transfers since the 1970s. Conduit claims its platform offers a modern alternative, enabling near real-time cross-border settlements by combining stablecoins with local fiat currencies through crypto infrastructure.“Traditional cross-border payment systems do not meet the demands of modern businesses,” Kirill Gertman, Conduit CEO, said in a statement. Additional participants in the funding round include Sound Ventures, Commerce Ventures, DCG, Circle Ventures, and two previous investors, Helios Digital Ventures and Portage Ventures. Conduit claims its clients have saved more than 60,000 hours in settlement times and over $55 million in fees since launching in 2021.Related: UK FCA requests public comments on stablecoin, crypto custody regulationFunding for stablecoin companies increasesStablecoins are seeing increased adoption. According to DefiLlama data, the market capitalization of stablecoins reached $247 billion on May 28, a steep rise from $161 billion a year before. Over the past 12 months, the market cap has jumped 54%.Tether’s USDT is keeping pace with growing stablecoin markets. Source: DefiLlamaInvestors continue to bet on stablecoin-focused startups. In April, stablecoin firm Cap raised $11 million in seed funding, while Plasma secured $24 million in February. Startup Cedar Money also closed a $9.9 million round in January to support its stablecoin payments platform.Circle, the issuer of USDC and one of Conduit’s backers, is preparing for a public debut. The company is aiming to raise $624 million through an initial public offering, targeting a valuation of $6.71 billion, according to its IPO filings.Magazine: Legal Panel: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
BlackRock is reportedly planning to take a significant stake in Circle’s upcoming initial public offering (IPO). According to a May 28 Bloomberg report citing anonymous sources, BlackRock is looking to purchase roughly 10% of the offering. Circle, the issuer of the USDC stablecoin, is aiming to raise $624 million in its initial public offeringCathie Wood’s Ark Investment Management is also interested in buying $150 million worth of shares in the offering, the report said. Circle launched its offering of 24 million shares of Class A common stock on May 27. The offering consists of shares from the company as well as shares of existing stakeholders, including co-founder and CEO Jeremy Allaire. According to the report, Circle’s IPO has now received orders for multiple times the shares available.The company filed for an initial public offering on April 1, but delayed plans citing economic uncertainty. Crypto firms Ripple and Coinbase were reportedly exploring a potential acquisition of Circle. The company has since dismissed the speculation, saying it “is not for sale.”Related: Circle co-founder to create ‘AI-native’ bank after $18M raiseUSDC market shareWith a market capitalization of $60.9 billion as of May 28, Circle’s USDC (USDC) represents 24.6% of the stablecoin market, only behind Tether’s USDt (USDT).Stablecoins by market cap. Source: DefiLlamaAccording to its Form S-1 registration statement, Circle had $1.67 billion in revenue in 2024, representing a 16% increase year-over-year. However, its net income fell from $267.6 million in 2023 to $155.7 million in 2024, a 41.8% decline.Circle’s main competitor, Tether, is seemingly not interested in pursuing an IPO. In an X post on April 4, Tether CEO Paolo Ardoino said that “Tether doesn’t need to go public.”Magazine: Legal Panel: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
Coinbase data breach 2025: What was stolen and what you need to know
Background of Coinbase’s May 2025 breach Coinbase, America’s largest cryptocurrency exchange, received an unsolicited email from an unknown threat actor on May 11, 2025. They claimed to possess sensitive information about its customers and demanded a ransom of $20 million. Before examining the breach, it is interesting to understand how it happened at a public company that spends millions monthly on cybersecurity. In February, blockchain investigator ZachXBT reported increased thefts involving Coinbase users. He blamed aggressive risk models and pointed out Coinbase’s failure to prevent $300 million in yearly losses from social engineering scams. A table ZachXBT shared on X showed $65 million stolen from users between December 2024 and January 2025. He also said the real losses could be higher, as his data only came from his direct messages about onchain thefts, and excluded Coinbase support tickets and police reports he couldn’t access. The fear of cybercriminals stealing valuable information came true on May 11 when Coinbase published a blog post confirming that account balances, ID images, phone numbers, home addresses and partially hidden bank details were stolen during the data breach.On May 21, the same threat actor swapped about $42.5 million from Bitcoin (BTC) to Ether (ETH) via THORChain. They used Ethereum transaction input data to write “L bozo,” following it with a meme video of NBA player James Worthy smoking a cigar, seemingly mocking ZachXBT, who later flagged the message on his Telegram channel. What happened: Timeline of the Coinbase breach The 2025 Coinbase breach wasn’t a typical crypto hack involving smart contracts or blockchain vulnerabilities. Instead, it was like a traditional IT security failure, marked by insider manipulation, corporate espionage and an extortion attempt.Below is a breakdown of how the incident unfolded:Insider recruitment and information theft began: To steal information from Coinbase, unknown cyber attackers began recruiting some overseas customer service agents (based in India) working for Coinbase. These insiders were paid to leak sensitive customer data and internal documentation, particularly that around customer service and account management systems. The stolen information was intended for future impersonation scams targeting users.Security detection and employee termination: Coinbase’s internal security team eventually detected suspicious activity linked to these employees. The involved staff were swiftly terminated, and the company alerted affected users. Though just 69,461 accounts were impacted, a fraction of Coinbase’s user base, the depth of stolen personal data made the breach significant.Extortion attempt via email (May 11, 2025): Coinbase received an unsolicited email claiming to possess internal system details and personally identifiable information (PII). This was later confirmed as credible in an 8-K SEC filing. Coinbase refuses to pay $20M ransom (May 14, 2025): Rather than accepting extortion, Coinbase flipped the script. The company reported the breach to law enforcement, disclosed it publicly and offered a $20 million reward for information leading to the attackers’ arrest, turning defense into offense. Breach disclosure and public notification: Shortly after the SEC filing, Coinbase publicly confirmed the breach, clarifying the scope and nature of the attack. A data breach notification was filed with the Maine Attorney General’s office, officially stating 69,461 users were affected. This timeline reflects how a crypto company responded differently to an attempted cyber-extortion, with transparency, resistance and bold countermeasures. This may bring in a change in the way companies respond to threats from cyber criminals.Did you know? North Korea’s Lazarus Group has stolen over $6 billion in crypto since 2017, including a record-breaking $1.46 billion from Bybit in 2025. What data was compromised in the Coinbase data breach in 2025? According to a notification letter issued by Coinbase, attackers sought this information because they planned to launch social engineering attacks. The information they stole could help them appear credible to victims and possibly convince them to move their funds.Coinbase detailed the information the threat actors had got access to and what they could not. What attackers gotName, address, phone, and emailGovernment‑ID images (e.g., driver’s license, passport)Masked Social Security (last four digits only)Account data (balance snapshots and transaction history)Masked bank account numbers and some bank account identifiersLimited corporate data (including documents, training material, and communications available to support agents)What attackers couldn’t getLogin credentials or 2FA codesPrivate keysAccess to Coinbase Prime accountsAny ability to move or access customer fundsAccess to any Coinbase or Coinbase customer hot or cold walletsDid you know? In 2022, Crypto.com lost $30 million from 483 accounts. Initially, they claimed no funds were stolen, but later admitted the breach and refunded victims, highlighting the importance of transparency in crypto hacks. How Coinbase responded to the 2025 criminal data breach In response to the 2025 data breach, Coinbase implemented a comprehensive strategy to mitigate damage, support affected users and strengthen its security infrastructure.Key actions taken by Coinbase included:Refusal to pay ransom: Coinbase declined the $20 million ransom demanded by the attackers. Instead, the company established a $20 million reward fund for information leading to the arrest and conviction of those responsible.Customer reimbursements: The company committed to reimbursing customers who were deceived into sending funds due to the breach. Estimated costs for remediation and reimbursements range between $180 million and $400 million.Theft protection services: The company is providing all affected individuals with one year of complimentary credit monitoring and identity protection services. This includes credit monitoring, a $1 million insurance reimbursement policy, identity restoration services, and dark web monitoring to detect if any personal information appears on illicit online platforms.Enhanced customer safeguards: Affected accounts will require additional ID verification for large withdrawals, including mandatory scam-awareness prompts to prevent further social engineering attacks.Strengthened support operations: Coinbase is opening a new support hub in the US. It has implemented stronger security controls and monitoring across all locations to prevent insider threats.Collaboration with law enforcement: The company is cooperating closely with US and international law enforcement agencies. Insiders involved in the breach were terminated and referred for criminal prosecution.Transparency and communication: Coinbase immediately notified affected customers once the breach was recognized. It is providing ongoing updates about the breach and the steps being taken to address it.These measures reflected Coinbase's commitment to customer protection and its proactive approach to cybersecurity challenges.Did you know? Crosschain bridges, like Nomad Bridge, lost $190 million in 2022 due to complex smart contract vulnerabilities. These bridges are hacker favorites because they store massive crypto assets, making them lucrative targets. How to stay safe in the event of Coinbase-like data breaches In the wake of large-scale data breaches of crypto platforms, you should take proactive steps to protect yourself from social engineering attacks. Here is how you could stay safe in such an event:Never share sensitive information with impersonators: Scammers often pose as support staff or security agents after a breach. They may push you toward moving funds to crypto wallets they share with you or revealing sensitive information under various texts. Never share your password, two-factor authentication (2FA) codes, or recovery phrases with such impersonators. No crypto exchange will ask you to transfer crypto to a “new” or “safe” wallet. Turn on allow-listing of wallet addresses: Some exchanges provide this feature, which restricts withdrawals to pre-approved wallet addresses you fully control. This prevents unauthorized transfers even if your account is compromised. Enable strong 2FA: For 2FA, use a hardware security key or a trusted authentication app. Avoid relying on SMS-based 2FA, which is vulnerable to SIM-swapping attacks. Be cautious with unsolicited communication: Hang up immediately if someone calls claiming to be from a crypto platform and asks for security credentials or requests asset transfers. Do not respond to unknown texts or emails with your personal information. Lock first, investigate later: If anything feels suspicious, lock your account immediately through the app or platform and report the incident to customer support via official channels. Stay informed: Regularly review security tips and updates from your crypto services to recognize and avoid evolving scam tactics.
Cork Protocol hacked for $12M, smart contracts paused
Cork Protocol, a decentralized finance (DeFi) platform, was hit by a smart contract exploit on May 28, resulting in the loss of roughly $12 million in digital assets.Cybersecurity firm Cyvers said the hack occurred at 11:23:19 UTC and was funded by an address ending in “762B.” According to the firm, the attacker used the exploit to steal roughly 3,761 Wrapped Staked Ether (wstETH), which was converted to Ether (ETH) almost immediately after the attack.“We are investigating a potential exploit on Cork Protocol and are pausing all contracts. We will report back with more information,” Cork Protocol co-founder Phil Fogel wrote on X.Cork Protocol smart contract exploit details. Source: CyversThe Cork Protocol exploit is the latest hacking incident to impact the crypto industry as cybersecurity continues to be a major issue in the sector, lowering consumer confidence, and prompting calls to improve security measures from crypto industry executives.Related: Hacken CEO sees ‘no shift’ in crypto security as April hacks hit $357MCetus hacked for $223 million days agoThe Cetus decentralized crypto exchange (DEX), a trading platform built on the Sui network, was hacked on May 22, resulting in $223 million in stolen funds.Sui validators froze a majority of the funds, sparking a debate about the centralization of the network and the appropriate course of action for blockchain validators following a major hacking incident.The Cetus team announced a $6 million bounty for white hat hackers assisting in the return of the remaining stolen funds. Blockchain security firm Dedaub released a post-mortem report dissecting the incident details. According to the report, the hack was caused by an exploit of the liquidity parameters used by the Cetus automated market maker (AMM).The hackers manipulated the field by altering values that went undetected in a most significant bits (MSB) check. Changes to a binary code’s most significant bits dramatically alter the values produced by that binary code.This allowed the hackers to add massive amounts of liquidity to the system with only a keystroke and drain other liquidity pools of hundreds of millions of dollars.Magazine: Weird ‘null address’ iVest hack, millions of PCs still vulnerable to ‘Sinkclose’ malware: Crypto-Sec
Bitcoin sags below $108K as rate-cut bets evaporate before Fed minutes
Key points:Markets increasingly see fewer Fed rate cuts this year, with the first only coming in September.Despite potential labor market weakness to come, crypto and risk assets lack an overall bullish catalyst, analysis says.BTC/USD continues to drop toward new multiday lows.Bitcoin (BTC) sold off at the May 28 Wall Street open as markets continued to price out US interest rate cuts.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBTC price retreats with Fed rate cut betsData from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping below $108,000 to challenge multiday lows.Ahead of the minutes of the Federal Reserve’s May meeting, the mood among risk assets was cautious.CME Group’s FedWatch Tool showed decreasing odds of a rate cut — a key tailwind for crypto, stocks and more — before September.Fed target rate probabilities for September FOMC meeting. Source: CME GroupInformal sentiment likewise continued to deteriorate on the day, with prediction service Kalshi seeing just two cuts in 2025, down from four in early April.📊 UPDATE: Markets now pricing in just 2 Fed rate cuts in 2025, down from 4 earlier this year, as uncertainty builds ahead of today’s Fed minutes. pic.twitter.com/vAYLJGJjwF— Cointelegraph (@Cointelegraph) May 28, 2025In its latest analysis, trading resource The Kobeissi Letter nonetheless revealed a potential silver lining. Consumer sentiment over the labor market, it reported, was flashing classic signs of a forthcoming unemployment spike — something which could force the Fed to bring rate cuts forward.“The assessment of current job availability has also decreased over the last 3 years. In previous economic cycles, this metric has been a leading indicator for unemployment,” it told X followers.“This indicator clearly suggests a further increase in the unemployment rate in the coming months. The labor market continues to show signs of weakness.”Consumer labor market sentiment data. Source: The Kobeissi Letter/XRisk assets lack volatility triggerBTC price action meanwhile cut through bid liquidity on its way down, something which popular trader TheKingfisher previously warned could form a “trigger” for further losses if broken.Related: Bitcoin whales keep buying as BTC price dip targets include $94K“However, the more striking feature is the massive wall of short liquidations immediately above, starting from $108900 and extending significantly upwards, particularly around $109000-$109200+,” he acknowledged.“This creates a substantial imbalance biased towards short liquidations.”BTC liquidation heatmap. Source: CoinGlassWith BTC/USD rangebound since its $112,000 all-time highs, macro analysis from trading firm QCP Capital ultimately suggested little chance of a price breakout without a suitable catalyst.“Volatility across most asset classes continues to drift lower, as markets enter a lull amid a dearth of meaningful news flow and macroeconomic data,” it wrote in its latest bulletin to Telegram channel subscribers on the day. “The news cycle remains relentless, yet markets appear increasingly inured to negative developments, brushing off headlines that might once have sparked more significant reactions.”VIX S&P 500 volatility 1-day chart. Source: Cointelegraph/TradingViewThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Polygon-backed, high-yield blockchain launches for institutional adoption
The Katana Foundation, a nonprofit focused on decentralized finance (DeFi) development, is launching its private mainnet, aiming to unlock greater crypto asset productivity via deeper liquidity and higher yields for users.The Katana Foundation launched a DeFi-optimized, private blockchain, Katana, on May 28, incubated by GSR Markets and Polygon Labs, with the public mainnet launch set for June.The new blockchain will enable users to earn higher yields and explore DeFi in a “unique, optimized yield environment” that unlocks latent value through an ecosystem that makes every digital asset “work harder,” according to an announcement shared with Cointelegraph.“DeFi users deserve ecosystems that prioritize sustainable liquidity and consistent ‘real’ yields,” wrote Marc Boiron, the CEO of Polygon Labs and core contributor at Katana, adding: “Katana’s user-centric model turns inefficiencies into advantages, establishing a truly positive-sum environment for builders and participants alike."Source: KatanaKatana aims to solve the crypto industry’s liquidity fragmentation issue, which can cause significant price slippage, as one of the main barriers limiting institutional DeFi participationRelated: Here’s how abstraction minimizes fragmentation in DeFi, making it more fluidTo reduce the value slippage in DeFi, Katana’s blockchain concentrates the liquidity from numerous protocols and collects yields on all potential sources to create an ecosystem with deeper liquidity and more predictable lending and borrowing rates.2025 Institutional Investor
Digital Assets Survey. Source: EY-ParthenonInstitutional participation in DeFi is set to triple over the next two years to 75% from 24% of 350 surveyed institutional investors, according to management consulting firm EY-Parthenon.To tackle the growing institutional liquidity needs, Katana’s liquidity pool is composed of multiple protocols, including lending protocol Morpho, decentralized exchange (DEX) Sushi and perpetual DEX Vertex, enabling users to trade “blue-chip assets” without needing crosschain transfers.Katana has also incorporated Conduit’s sequences and Chainlink’s decentralized oracle network.Related: Polygon CEO: DeFi must ditch hype for sustainable liquidityKatana to compound DeFi yield from “Ethereum-based opportunities”Katana aims to boost sustainable yield by building a cohesive DeFi ecosystem. For instance, VaultBridge deploys bridged assets into overcollateralized, curated lending strategies on Ethereum via Mopho to earn yield, which is routed back and compounded on Katana.The protocol will reinvest network fees and a portion of application revenue back into its ecosystem.“This reduces reliance on short-term incentives, generates consistent yield, and as it grows, acts as an increasingly stable backstop during periods of volatility and liquidity shocks,” Polygon Labs’ Boiron told Cointelegraph, adding:“Yield is distributed pro-rata to each chain using VaultBridge protocol based on their share of total deposits into VaultBridge.”“So if Katana supplies 20% of the total vault deposits, it receives 20% of the yield back,” he added.Katana will subsequently allocate its share of yield to users through boosted DeFi incentives across “core apps” such as Sushi, Morpho or Vertex. The yield is generated from “Ethereum-based opportunities and then enhanced through Katana’s core applications,” said Boiron.Polygon Labs’ CEO previously criticized DeFi protocols for fueling a cycle of “mercenary capital” by offering sky-high annual percentage yields (APYs) through token emissions. Beyond infrastructure-related limitations, regulatory uncertainty remains another significant barrier to institutional DeFi adoption.2025 Institutional Investor
Digital Assets Survey. Source: EY-ParthenonRegulatory concerns were the main barrier to entry, flagged by 57% of institutional investors as the main reason for not planning to participate in DeFi activities.Magazine: DeFi will rise again after memecoins die down: Sasha Ivanov, X Hall of Flame
Bitcoin’s physical infrastructure is the industry’s most overlooked asset
Opinion by: Scott Buchanan, chief operating officer of Bitcoin DepotA new proposal to install Bitcoin ATMs in federal buildings highlights an important question: Can crypto truly go mainstream without a stronger physical presence? For years, the industry has focused on software and decentralization, but its reluctance to invest in real-world infrastructure is starting to show. Without physical access points, crypto risks becoming an exclusive, insiders-only system, rather than the open alternative it sets out to be.Everyone loves to talk about decentralization. There’s a good reason behind this. It defines the movement, shapes the technology, and supports the vision of a better financial system. While the industry focuses on code and algorithms, it lacks something basic. A decentralized system that exists only online is not genuinely decentralized.Physical infrastructure is the missing linkBitcoin’s physical infrastructure is the missing link. Without tools like ATMs, kiosks and access points at traditional retail locations, crypto remains out of reach for millions. Decentralization is not just about removing intermediaries. True decentralization requires expanding access. Without real-world touchpoints, even the most advanced network becomes limited to a closed circle of insiders.Recent: Arizona governor kills two crypto bills, cracks down on Bitcoin ATMsFor crypto to become mainstream, it must be easy to reach digitally and physically. That means showing up in places people already go and seamlessly integrating into people’s lives. Many groups in the American population still rely on cash or don’t have access to traditional banks. According to the latest Federal Deposit Insurance Corporation report, around 5.6 million American households don’t have a bank or savings account. Bitcoin ATMs give these users access without needing an app, a bank account or a crash course in blockchain. Most crypto tools today assume a level of financial fluency and infrastructure that millions simply do not have. The result is a digital-only ecosystem that locks out newcomers and widens the divide between early adopters and everyone else.User-friendly screen in the right placePhysical infrastructure helps address this issue. A Bitcoin ATM in a grocery store or gas station is not just a convenience but a bridge to financial inclusion. It is an invitation to someone who has never bought crypto, telling them they can participate. No bank, no broker, just a user-friendly screen in a familiar place.These machines also generate new economic activity. Local businesses benefit from increased foot traffic as the kiosks create passive revenue. For many communities, they provide access to a parallel financial system that was previously out of reach. This is a tangible example of crypto’s real-world utility. It is already happening, and it is measurable.The crypto industry’s blind spotThe industry often treats physical infrastructure like an afterthought. The obsession with building new digital solutions has created a blind spot. Innovation without usability builds systems that serve the few but exclude the many. If someone can buy Bitcoin (BTC) at the same place they buy their morning coffee, that is when crypto stops feeling like an obscure digital asset and starts becoming part of everyday life.As governments increase regulation, trusted and transparent interfaces will become more important. When operated within regulatory frameworks, Bitcoin ATMs offer a way to provide access between traditional finance and digital assets. They are familiar, easy to monitor and offer a more approachable entry point for the general public.Like any financial tool, Bitcoin ATMs have drawn scrutiny, particularly in cases where bad actors use them. Rather than dismissing the machines themselves, we should focus on investing in better oversight, stronger consumer education and smarter regulation. The overwhelming majority of people who use Bitcoin ATMs do so for legitimate reasons: to send remittances, to move money securely or to access digital assets without traditional banking barriers. Building trust does not mean avoiding or dismantling physical access, but improving it.The first time someone uses Bitcoin should not involve reading a white paper or navigating a tutorial. It should be as familiar as using an ATM or tapping a payment terminal. This is not an argument against innovation. Software and protocols will continue to evolve and play an important role. Physical infrastructure provides something those tools cannot: trust through presence. When people can see and use crypto in their neighborhood, at a store they already visit or in a format they already understand, it changes how they think about crypto and who it is for. According to Coin ATM Radar, there are over 30,000 Bitcoin ATMs in the US. It’s a meaningful start, but still only a small step toward widespread access. Crypto’s long-term success will depend not just on innovation but also on inclusion. That means building more than networks; it means building presence. When people can interact with crypto in the physical world, it stops being abstract and becomes usable. That is how digital finance becomes everyday finance.Opinion by: Scott Buchanan, chief operating officer of Bitcoin Depot.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.
