14 May 2025, 20:05

Over 100,000 Bitcoin Withdrawn From Exchanges Including $312M From Binance; 2.4 Million Bitcoin Left Amid Supply Shock

Over the past three weeks, more than 100,000 Bitcoin have been withdrawn from cryptocurrency exchanges, with over $312 million worth of Bitcoin pulled from Binance alone in the last 12 hours following the U.S.-China trade deal. This large-scale movement of Bitcoin has led to a substantial decrease in Bitcoin reserves on exchanges, with only approximately 2.4 million Bitcoin remaining available. Market observers describe this trend as a potential supply shock, suggesting that major holders, or whales, may be anticipating significant market developments. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

14 May 2025, 20:03

Meteora Surpasses USDC Issuer Circle in Daily Fees

Solana-based decentralized exchange (DEX) Meteora had its best day in months on May 13, driven by the success of the Believe token launchpad . Meteora is the second highest fee generator across DeFi over the last 24 hours, bringing in $7.6 million in fees, ahead of stablecoin issuer Circle, which earned $6.4 million over the same period. Meteora only trails USDT issuer Tether, which generated a massive $19 million. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

14 May 2025, 19:36

Democrats demand treasury reports on Trump crypto, Musk PAC

Top House Democrats are pressing the Treasury Department to release all suspicious activity reports related to Donald Trump’s crypto ventures, Elon Musk’s America PAC, the GOP fundraising platform WinRed, and several alleged scam PACs. The May 14 letter , signed by Reps. Gerald Connolly, Joe Morelle, and Jamie Raskin, cites possible campaign finance violations, foreign influence, securities fraud, and deceptive fundraising targeting vulnerable Americans. The lawmakers are particularly focused on Trump’s crypto company, World Liberty Financial , which launched in late 2024. WLF’s non-transferable tokens, critics say, offer no real value and have drawn scrutiny for receiving $75 million in funding from Justin Sun, a Chinese-born entrepreneur facing SEC charges at the time. Shortly after Sun’s investment, the SEC paused its case. WLF has since announced the USD1 stablecoin, tied to a $2 billion deal involving a UAE-backed fund and Binance. You might also like: Sui teams up with 21Shares to expand SUI adoption $TRUMP memecoin The investigation also targets the $TRUMP ( TRUMP ) memecoin, launched just before Trump’s inauguration. Entities linked to Trump reportedly hold 80% of the token supply and have earned $100 million in trading fees. With no public records of coin buyers and the SEC ruling meme coins fall outside its jurisdiction, Democrats warn of risks of undisclosed foreign actors influencing Trump through crypto. Musk’s America PAC is also under scrutiny for allegedly leveraging financial backing to gain Trump’s political favor, including turning the White House South Lawn into a Tesla showroom. Meanwhile, WinRed and two scam PACs are being investigated for deceptive practices, including tricking elderly donors and using Trump’s voice in robocalls to raise funds. The lawmakers say the probe will help determine if new legislation is needed to prevent fraud and preserve election integrity. You might also like: BNB price eyes $400 retest before push toward $800 channel high

14 May 2025, 19:35

CFTC Commissioner Mersinger leaves to become CEO of crypto lobbying group

The Blockchain Association has announced Summer Mersinger, a commissioner at the United States Commodity Futures Trading Commission (CFTC), as its next CEO. Mersinger is expected to leave her role at the CFTC by May 30 to resume at her new role on June 2. This move reportedly signals the crypto sector’s intent to strengthen its policy and lobbying efforts in a critical year for digital asset legislation in the U.S. 1/ We’re pleased to announce that CFTC Commissioner Summer Mersinger has been chosen as the new Blockchain Association CEO. Summer will leave her current position as Commissioner on May 30 and will start at the Association on June 2. pic.twitter.com/gVD0B4PpdH — Blockchain Association (@BlockchainAssn) May 14, 2025 Mersinger goes from regulator to crypto advocate Mersinger was nominated by President Joe Biden in 2022 to become one of the CFTC’s four commissioners, and her confirmation went through with bipartisan support. Over the years, she has earned a reputation as a pragmatic and crypto-aware regulator who favors regulatory clarity over enforcement-first approaches. In September 2024, she publicly issued a dissenting statement against her commission’s enforcement action against decentralized exchange, Uniswap Labs, warning that “regulation by enforcement” was counterproductive and could stifle innovation. Before her appointment as commissioner at the CFTC , Mersinger served as the chief of staff to the erstwhile CFTC Commissioner Dawn D. Stump. She also held the position of Director of Legislative and Intergovernmental Affairs at the agency. She also has two decades of Capitol Hill under her sleeve, including more than a decade working for Senate Majority Leader John Thune. With all her experience, she is a well-connected figure in both regulatory and legislative circles, which strengthens her case for the new CEO role at the Blockchain Association . A major coup for Blockchain Association In its announcement post on X , the Blockchain Association wrote,”We are closer than ever to passing fit-for-purpose legislation that treats the digital asset industry as the technological marvel it is, supporting innovation in the sector while providing important consumer protections. Summer joins at a vital juncture as we make the final push to ensure we turn positive momentum to lasting law.” Mersinger will take over from Kristin Smith, the outgoing CEO of the Blockchain Association who’s reportedly joining the Solana Policy Institute . Sarah Milby, the group’s head of policy, will serve as interim CEO until Mersinger officially assumes the position. With several crypto-related bills making their way through Congress, Mersinger’s presence is expected to add both credibility and insight to the industry’s policy initiatives. Mersinger’s transition is being heralded as a strategic win for the crypto industry. Her deep understanding of regulatory processes and proven willingness to challenge enforcement-heavy regimes suggest that the Blockchain Association is preparing to take a more sophisticated approach to influencing legislation and relating to policymakers. Her appointment also highlights the growing movement of former regulators transitioning into industry roles, a trend that has drawn both support and scrutiny. Critics argue it raises conflict of interest concerns, while supporters say it helps bridge the knowledge gap between innovators and policymakers. The President Trump-led administration’s favorable posture to crypto softens the ground for the Blockchain Association ’s goal of achieving a favorable policy standing for players in the space, and Mersinger’s appointment signals a readiness to achieve that goal. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

14 May 2025, 19:28

Coinbase has M&A firepower, but won't chase every deal, CEO says - report

More on Coinbase Coinbase Global, Inc. (COIN) Presents at Annual JPMorgan Global Technology, Media and Communications Conference (Transcript) Coinbase: Seeds Of Growth Amidst Recent Challenges Coinbase: S&P 500 Inclusion Marks Crypto's Mainstream Moment Coinbase's inclusion in S&P 500 is a 'watershed moment,' analyst says Biggest stock movers Tuesday: COIN, FSLR, UNH, and more

14 May 2025, 19:19

Novogratz’s Galaxy Digital gets upgraded buy rating ahead of Nasdaq listing

H.C. Wainwright, one of the most prestigious financial firms in the U.S., upgraded Galaxy Digital’s price target to $39. Mike Novogratz’s Galaxy Digital Holdings is riding high ahead of its uplisting on Nasdaq. On Wednesday, May 14, financial firm H.C. Wainwright reaffirmed its Buy rating on Galaxy Digital, raising its price target from $30 to $39. The crypto financial services and AI infrastructure firm, owned by billionaire Mike Novogratz, currently trades at $32.09 per share. The decision came despite underwhelming financial results for the first quarter of 2025, when the firm posted a $295 million net loss . These were, as H.C. Wainwright explained, partially due to challenging macro conditions for crypto firms. However, the financial firm pointed to strong potential for growth in the short term, as well as the upcoming listing on Nasdaq , set for May 16. So far, Galaxy Digital has been listed on the Toronto Stock Exchange. You might also like: Bitcoin’s April gains reflect growing hedge appeal in policy stress, Galaxy Digital says Galaxy Digital has strong growth potential, analysts state A listing on a more prestigious exchange is a signal to investors about the prestige and trustworthiness of a company. At the same time, Galaxy Digital will benefit from the fact that it will be available on retail trading apps, including Robinhood and eToro. You might also like: The crypto bull run is here: top 3 altcoins to buy and hold What is more, the company is expected to benefit from the expected rebound in crypto assets in the second quarter of 2025. This is both due to the services it offers in the space, as well as its own crypto assets. “We believe Galaxy’s client-facing digital asset businesses and the company’s large crypto portfolio are poised to benefit from rising prices in 2H25, as the industry benefits from greater regulatory clarity and growing institutional adoption,” H.C. Wainwright. What is more, Galaxy Digital is expected to earn significant revenue from its AI data centers. For instance, the company has secured a contract with CoreWeave, worth approximately $13 million in revenues for the next 15 years. Read more: Bitcoin miners may find better returns in AI than crypto, Novogratz’s Galaxy Digital suggests