On May 15, the cryptocurrency market fluctuated and fell, with Bitcoin dropping to around 0.102 million USD. As of publication, $Bitcoin (BTC.CC)$it fell by 1.08% to 102,391.65 USD,$Ethereum (ETH.CC)$and it fell by 0.86% to 2,573.75 USD.
Key focus
Trump: I am a loyal fan of Cryptos.
During an interview, US President Trump stated that he is a loyal fan of Cryptos.
White House officials: Trump still plans to sign the Cryptos bill before August.
According to CoinDesk, Bo Hines, the executive director of the White House Digital Assets Advisory Committee, stated at the Toronto Consensus 2025 conference that despite challenges in the legislative process, the Trump administration still plans to complete the signing of bills related to stablecoins and market structure before the August congressional recess. Hines emphasized that legislative negotiations are still actively progressing and the government remains optimistic about this timeline.
In response to recent public opinion questioning the Trump family's involvement in the Cryptos business, Hines stated that the president's children, as private business entities, have the legal right to participate in the Capital Markets and believe that digital assets represent the future development direction of the financial industry. He also clearly stated that reports regarding companies purchasing TRUMP tokens would not affect presidential decision-making.
In addition, Hines confirmed that the White House working group is still researching the specific implementation plan for establishing a Bitcoin strategic reserve program. This statement continues the policy direction of the Trump administration to maintain USA's leading position in the digital assets field.
JPMorgan completes the settlement of tokenized US Treasury transactions through public blockchain for the first time.
According to Fortune, JPMorgan Chase completed its first settlement of tokenized US Treasury transactions through public blockchain on May 14, marking an important step in its transition from a "walled garden" private chain to an open blockchain ecosystem. The transaction involved tokenized Treasury products provided by Ondo Finance and was realized through oracle services provided by Chainlink.
Previously, JPMorgan's digital asset operations were mostly conducted on its private chain Onyx. This transaction shows its strategic shift towards more open financial infrastructure. It is reported that the transaction was coordinated by Chainlink's off-chain running environment (CRE), achieving atomic settlement between the Kinexys payment network and the Ondo chain, marking Kinexys (JPMorgan's blockchain platform) expanding for the first time into cooperation with consortium chains and public chains.
Coinbase CEO states that Cryptos will "become a part of everyone's 401(k) retirement account."
According to CNBC reports, $Coinbase (COIN.US)$ CEO Brian Armstrong stated in an interview that in the future, Cryptos will be integrated into the public retirement financial system, "becoming a part of everyone's 401(k) Account." He emphasized that as the regulatory framework gradually clarifies, the long-term allocation position of crypto assets will continue to strengthen.
The US stablecoin bill may pass on May 26, and provisions targeting the Trump family have been removed.
According to ChainCatcher, the US Senate plans to pass the National Innovation Stablecoin Guidance and Establishment Act (GENIUS Act) as early as May 26, which aims to establish a federal regulatory framework for stablecoins. Previously, Democrats had blocked its progress on May 8 due to concerns that the bill could potentially benefit former President Trump and his family from crypto projects. To reach a consensus, provisions targeting the Trump family have been removed from the bill.
Blockstream CEO: Bitcoin may rise to between 0.5 million and 1 million USD during this cycle.
According to Decrypt, Adam Back, CEO of blockchain company Blockstream, stated that considering the continuous inflow of institutional funds and improving policy environments, Bitcoin's current price of $0.103 million is significantly undervalued. He believes that Bitcoin could rise to between $0.5 million and $1 million in this cycle. Back noted that the US Bitcoin spot ETF has attracted over $41 billion in net inflows, combined with the crypto-friendly policies of the Trump administration, the market fundamentals are significantly better than in previous years.
The Central Bank of Brazil proposed to implement strict regulation on transfers of stablecoins.
According to The Defiant, several Brazilian government sources familiar with the relevant plans revealed that Brazilian officials are considering issuing the country's first sovereign bonds denominated in Chinese yuan. Currently, this initiative is still under consideration, and no final decision has been made. The potential plan to issue sovereign bonds denominated in yuan would represent a significant advancement in Brazil's financial strategy. Meanwhile, as part of the new cryptocurrency regulatory framework, the Central Bank of Brazil has proposed strict regulations on stablecoin transfers. These proposed rules include restrictions on sending stablecoins to wallets controlled by non-Brazilian entities, reflecting the country's tightening stance on domestic cryptocurrency transactions.
Ukraine plans to launch a Global Strategy for Bitcoin reserves based on its new crypto law.
According to Coincentral, Ukraine is developing a legal framework to Hold Bitcoin in its national reserves, with a special parliamentary committee led by financial officials finalizing the legislative draft. Senior lawmaker Yaroslav Zhelezniak confirmed that Ukraine intends to establish an infrastructure for Cryptos reserves, for which he is overseeing the preparation of the relevant legal drafts. The proposal aims to regulate the state’s acquisition, storage, and management of Bitcoin reserves, striving to align with the expected cryptocurrency regulations to be introduced in 2025. The law will support the Holding of digital Assets for national fiscal planning, and the authorities will ensure transparency, compliance, and supervision by the central bank and regulatory agencies.
It has been reported that Ukraine is receiving support from Binance to establish a national Bitcoin reserve, including collaboration to provide guidance on the reserve mechanism and technical infrastructure. Both sides are actively discussing the implementation of the reserve strategy. Additionally, Ukraine plans to coordinate with the central bank and the International Monetary Fund to pass comprehensive digital asset legislation in early 2025, covering fiscal policy formulation, Exchange regulations, anti-money laundering measures, and capital gains taxes, clearly defining the legal responsibilities of market participants and state institutions.
France will hold a security meeting for the crypto industry to address the recent series of kidnapping incidents.
According to France 24, French Interior Minister Bruno Retailleau announced that a meeting with local cryptocurrency industry participants will be convened this Friday to address the recent spate of kidnapping incidents related to crypto firms. This decision follows a foiled kidnapping incident that occurred in Paris on May 13, where the daughter and grandson of a French crypto entrepreneur were assaulted by four masked assailants in the street, fortunately escaping with minor injuries. It is reported that the woman is the daughter of the co-founder and CEO of the French crypto trading platform Paymium.
In recent years, France has seen several kidnapping cases related to crypto wealth, including the kidnapping and torture of Ledger co-founder David Balland earlier this year. Retailleau stated, 'We will work with entrepreneurs in the crypto industry to discuss security measures, making them more aware of the associated risks.' He added that efforts will be made to track down the criminals at all costs, 'even if they have escaped overseas.'
The Democratic Party in the USA has demanded that the Treasury provide 'suspicious activity reports' concerning Trump's crypto investments and mentioned Sun Yuchen.
According to The Block, Democratic lawmakers in the USA have formally requested the Treasury Department to submit a report on suspicious financial activities related to the Trump family's crypto project, World Liberty Financial (WLF), and its associated meme coins. The investigation focuses on: the relevance of Justin Sun's $75 million investment in WLF to the SEC's suspension of litigation, the compliance of WLF's stablecoin USD1 in the $2 billion trading on Binance, and potential issues regarding benefits for Trump meme coin holders invited to a presidential dinner.
This investigation also involves the political action committee supported by Elon Musk and the Republican fundraising platform WinRed. Democratic lawmaker Ritchie Torres introduced legislation last week aimed at prohibiting the President and members of Congress from profiting through meme coins. Senator Elizabeth Warren and others have called for an examination of Trump's relationship with Binance. The Treasury Department has yet to respond.
10T Holdings: Many crypto startups are scaring off venture capital firms with valuations of 50 to 80 times.
According to Cointelegraph, on May 14, Dan Tapiero, CEO of crypto venture capital firm 10T Holdings, pointed out at the Consensus conference in Toronto that too many crypto startups pursue valuations that far exceed their revenues, making it difficult for venture capital to achieve returns. Tapiero stated, "For some reason, founders and CEOs believe they should raise funds at 50 to 80 times their revenue. This makes it difficult for us to generate returns for liquidity providers."
Tapiero revealed that their firm has rejected over 200 projects due to excessive valuations, including the bankrupt FTX, BlockFi, and Celsius. 10T Holdings' investment criteria require a company valuation of over $0.4-0.5 billion, with a P/S ratio not exceeding 10 times. Despite concerns about valuation bubbles, PitchBook data shows a more than 100% quarter-on-quarter increase in crypto venture capital transaction volume to $6 billion in Q1 2025. Dan Morehead, CEO of Pantera Capital, suggested that venture capital adopt a "equity + token" hybrid investment strategy, with 86% of projects they invest in becoming profitable, and 22 companies achieving unicorn status.
Vinanz secured $4 million in bridge financing to drive the expansion of its Bitcoin business, with the first tranche of $2 million already received.
According to a London Stock Exchange announcement, Vinanz Limited, a company listed on the London Stock Exchange, has reached an investment agreement with the American investment bank Dominari Securities and a global investment institution. The initial 2 million USD has been received, which will be used to expand Bitcoin assets, with plans for a future dual listing on Nasdaq. The second tranche of 2 million USD will be available upon meeting specific conditions. This financing is for a 12-month convertible bond with an annual interest rate of 5%.
Etherealize co-founder: Bitcoin's outlook is concerning due to security budget issues, as initiating a 51% attack now only costs $8 billion.
Grant Hummer, co-founder of the Ethereum-based marketing company Etherealize, stated that Bitcoin's prospects are concerning due to its security budget issues. Currently, launching a 51% attack on Bitcoin requires only 8 billion USD, and if it drops to 2 billion USD (which is 0.1% of Bitcoin's Market Cap), an attack would almost certainly occur, a point that will become evident in the next decade. In contrast, Ethereum, with its true decentralization, is expected to become the default consensus point for value storage on the Internet.
Hummer also mentioned that after communicating with executives from traditional finance, it was found that achieving a million TPS (transactions per second) on a single global state machine is not possible, but it is completely feasible through Ethereum's Neutral settlement layer and high-speed L2 networks. He emphasized that the stability and maturity of decentralized financial infrastructure far outweigh short-term performance improvements, especially amidst the current wave of tokenization of real-world assets (RWA)—85% of RWA and most stablecoins have currently chosen Ethereum. In response to critiques that "Ethereum is trying to do too much," Hummer countered that this is akin to questioning the multifunctionality of Windows or the Internet. He believes that Ethereum is becoming the cornerstone of the global financial system, with its security, decentralization, and ecological diversity being key factors attracting large-scale adoption by Institutions.
Editor/rice
