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The Daily: Bitcoin retakes $100K, Coinbase drops $2.9B on Deribit, Trump fumes over XRP crypto reserve post, and more

The Daily: Bitcoin retakes $100K, Coinbase drops $2.9B on Deribit, Trump fumes over XRP crypto reserve post, and more

The following article is adapted from The Block’s newsletter,Ā The Daily, which comes out on weekday afternoons.Happy Thursday! Bitcoin's growing institutionalization and geopolitical adoption are reshaping its role from rebellious tech to potential global reserve asset "sooner" than most think, Bitc…

Bitcoin proxy Strategy scoops up 1,895 BTC for $180 million

Bitcoin proxy Strategy scoops up 1,895 BTC for $180 million

Bitcoin proxy Strategy continues to scale up its BTC exposure. The company said Monday it had acquired another 1,895 BTC between April 28 and May 4, boosting its holdings to 555,450 BTC, or 2.6% of the total Bitcoin supply.According to a new SEC filing , the purchase was funded through the sale of S…

Bitcoin Is Beating the S&P 500. The Unusual Reason Behind the Rally.

Bitcoin Is Beating the S&P 500. The Unusual Reason Behind the Rally.

By Elsa OhlenBitcoin has been a big success story of the past month outperforming stocks during market turmoil that hit everything from equities and bonds to the dollar and cryptocurrencies.That may not come as a complete shock given President Trump's promise to make the U.S. the crypto capital of t…

Bitcoin Faces Political Headwinds Even as the Best Presales Keep Finding Investors

Bitcoin Faces Political Headwinds Even as the Best Presales Keep Finding Investors

The close of last week coughed up some rather unpleasant news for Bitcoin (and crypto) supporters.Arizona’s governor, Katie Hobbs, announced her decision to veto Senate Bill 1025, also known as the ā€˜Arizona Strategic Bitcoin Reserve Act.’ SB1025 would have allowed Arizona’s treasurers and public ret…

Trump to host memecoin gala dinner amid backlash, impeachment calls

Trump to host memecoin gala dinner amid backlash, impeachment calls

US President Donald Trump will host a gala dinner for top holders of his Official Trump (TRUMP) memecoin despite bipartisan criticism and renewed calls for impeachment.In a May 5 Truth Social post, Trump announced that he will hold a gala dinner with major TRUMP holders on May 22. The announcement f…

Best Altcoins to Buy as Institutional Bitcoin Buying Set to Outpace Retail

Best Altcoins to Buy as Institutional Bitcoin Buying Set to Outpace Retail

Bitcoin has emerged as the market’s top hedge option against rising geopolitical uncertainty and cross-border tensions. The institutional adoption of $BTC has increased during the last couple of months.Sergej Kunz, founder of 1inch (exchange aggregator), said that retailers might not have much time …

US lawmaker proposes crypto ATMs in federal buildings

US lawmaker proposes crypto ATMs in federal buildings

A Texas member of the US House of Representatives has proposed that government officials consider installing cryptocurrency ATMs in federal buildings across the country.In a May 1 letter to Stephen Ehikian, the acting administrator of the General Services Administration (GSA) — the entity responsibl…

Kraken revenue hits $472 million in Q1, boosted by Trump-era volatility ahead of planned IPO

Kraken revenue hits $472 million in Q1, boosted by Trump-era volatility ahead of planned IPO

Kraken saw revenue jump to $472 million in the first quarter of 2025, according to a statement on Thursday. This represents 19% growth year-over-year, largely driven by a surge in volatility in the first quarter, during the first 100 days of President Trump’s second term.Ā The firm’s adjusted earning…

Saylor's Strategy reports fifth consecutive quarterly loss, announces $21 billion equity offering

Saylor's Strategy reports fifth consecutive quarterly loss, announces $21 billion equity offering

Strategy , the biggest corporate holder of bitcoin, reported a fifth consecutive quarterly loss on Thursday due to an unrealized loss on its cryptocurrency holdings.Bitcoin surged to record highs following Donald Trump's November 2024 presidential election victory, propelling the shares of Strat…

 Here’s what happened in crypto today

Here’s what happened in crypto today

Today in crypto, Coinbase is set to halt trading for the MOVE token. Morgan Stanley reportedly plans to launch crypto trading on its E*Trade platform by 2026, and the eye-scanning project Worldcoin has officially launched in the US.Coinbase suspends trading for MOVE tokenCrypto exchange Coinbase has…

Australian election will bring pro-crypto laws either way

Australian election will bring pro-crypto laws either way

Despite reports in February suggesting that 2 million pro-crypto voters could decide the outcome of this week’s Australian Federal Election, crypto has barely rated a mention during the campaign.ā€œI think it’s a missed opportunity,ā€ Independent Reserve founder Adrian Przelozny told Cointelegraph. ā€œNe…

The Daily: Sam Altman’s World eyes US rollout, Eric Trump says crypto will leave big banks ā€˜in the dust’ and more

The Daily: Sam Altman’s World eyes US rollout, Eric Trump says crypto will leave big banks ā€˜in the dust’ and more

The following article is adapted from The Block’s newsletter,Ā The Daily, which comes out on weekday afternoons.Happy Thursday! Crypto is trading hotter than the desert heat of Dubai at TOKEN2049, with bitcoin back above $97,000 and green candles lighting up almost across the board. The question is: …