19 May 2025, 13:31

Market Analysis Report (19 May 2025)

Binance and Kraken Thwart Hack Attempt Mirroring $20M Coinbase Breach | UK to Mandate Crypto Firms Report Every Customer Transaction Starting 2026 | El Salvador’s Bitcoin Holdings Show $357M Paper Gain

19 May 2025, 13:25

Suspicious Transfers in Stake-Enabled Project! Thousands of Tokens Moved to Binance, OKX, Bybit and Gate.io! Here Are the Details

A blockchain address believed to be linked to the Lido team transferred over 21 million Lido DAO (LDO) tokens to centralized exchanges last week, causing concerns among investors as the token’s price dropped sharply. Dubious Lido Team-Linked Wallet Transfers $21 Million Worth of LDO to Exchanges Amid Price Drop According to blockchain analytics platform EmberCN, the wallet moved 3.5 million LDO (worth around $3.1 million) to Binance, OKX, Bybit, and Gate.io today alone. This brings the total amount transferred over the past six days to 21.31 million LDO, worth around $21.24 million at the time the transactions were made. During this time, the price of LDO dropped by 24%, from $1.16 to $0.88, leading to speculation that the sell-off could be adding to the downward pressure on the token. The address in question has not been officially confirmed to belong to Lido Finance or its team, but the scale and timing of the transfers have caught the attention of on-chain analysts and the broader crypto community. Lido is one of the largest liquid staking protocols on Ethereum, and LDO is its governance token. Large movements of tokens held by the team, especially to exchanges, are often interpreted by the markets as potential sell-offs. Especially when accompanied by price drops. At the time of writing, Lido has not made any public statement regarding wallet activity or whether the address is officially affiliated with the project. Investors and analysts are closely following developments and possible confirmations from the Lido team. *This is not investment advice. Continue Reading: Suspicious Transfers in Stake-Enabled Project! Thousands of Tokens Moved to Binance, OKX, Bybit and Gate.io! Here Are the Details

19 May 2025, 13:17

Tether Surpasses Germany in US Treasury Holdings

The stablecoin giant also reported more than $1 billion in operating profit in the first quarter. This was driven by traditional asset holdings like Treasury bills and gold, which cushioned the impact of crypto market volatility. As the US debates stablecoin regulation through bills like the STABLE Act and the GENIUS Act, Tether’s growing influence proves the increasing institutional acceptance of stablecoins. Meanwhile, Tether also recently backed a massive Bitcoin acquisition on behalf of Twenty One Capital by purchasing $458.7 million worth of BTC as the firm prepares for a public listing via a SPAC merger. With backing from SoftBank and Bitfinex, Twenty One now ranks as the third-largest corporate Bitcoin holder and plans to become the top institutional vehicle for Bitcoin exposure. Overall, it is quite clear that Tether is expanding its footprint across traditional and crypto markets. Tether Ranks Among World’s Largest Treasury Holders Tether, the leading stablecoin issuer with over $151 billion in assets, surpassed Germany in United States Treasury bill holdings. According to data from the US Department of the Treasury and Tether’s Q1 2025 attestation report, the firm now holds more than $120 billion in US Treasurys, placing it ahead of Germany’s $111.4 billion and ranking it as the 19th largest holder among all countries and entities. Countries holding US Treasury bills (Source: Treasury.gov ) The attestation report also revealed that Tether generated more than $1 billion in operating profit during the first quarter of 2025. This performance was driven primarily by its holdings in US Treasury bills, which are widely regarded as one of the safest and most liquid investment instruments globally. The firm shared that while the broader crypto market experienced downside volatility in Q1, its traditional asset reserves—including Treasury bills and gold—helped mitigate potential losses. In particular, the gains from gold investments nearly offset the impact of crypto-related fluctuations, which certainly helped confirm the strength of Tether’s asset mix . Tether’s expanding influence comes at a time when stablecoin regulation in the United States is in flux. Growing regulatory clarity could help boost demand for USDT, prompting the company to expand its reserves even more. Two key legislative proposals are at the center of the regulatory conversation. The STABLE Act, which aims to increase transparency and accountability for stablecoin issuers, has advanced through committee and is now awaiting a floor vote in the House. Meanwhile, the GENIUS Act, which focuses on stablecoin collateralization standards and anti-money laundering compliance, has stalled due to political resistance. Despite this, a strong show of support from top crypto founders in Washington, D.C., suggests that regulatory momentum may soon pick back up. US Stablecoin Law Still on Track The push for comprehensive stablecoin regulation in the United States is still going forward despite a recent setback in the Senate. Cody Carbone, CEO of the Digital Chamber, a prominent Washington-based blockchain advocacy group, is still very optimistic about the eventual passage of the GENIUS Act, formally titled the Guiding and Establishing National Innovation in US Stablecoins of 2025. Cody Carbone In an interview at Consensus 2025, Carbone explained that although the bill failed to pass a procedural vote earlier this month, it is only a temporary delay and not a derailment of momentum. According to him, the bill is likely to pass in the coming weeks, especially as Congress already moved faster on this issue than many expected. Carbone also talked about the bipartisan appeal of stablecoin regulation, and argued that protecting the US dollar's global dominance should be a shared goal across party lines. The GENIUS Act is seen as a crucial legislative framework that could shape the future of stablecoin issuance and compliance in the United States. Failing to pass meaningful reform before the 2026 midterm elections could potentially roll back the progress that was made in creating a favorable regulatory environment for digital assets. Despite the procedural hiccup on May 8, negotiations are ongoing, and advocates are hopeful that the revised version of the bill will find the necessary support in the Senate soon. Part of the GENIUS Act (Source: US Senate ) The initial failure of the bill was blamed on partisan disputes and growing controversy surrounding former President Donald Trump’s involvement in the crypto space. Several Democratic senators withdrew their support due to ethical concerns over Trump’s links to meme coins, NFTs, and decentralized finance. Coinbase’s chief legal officer Paul Grewal had similar concerns, and suggested Trump’s digital asset complicated the regulatory debate. In response, Republican Senator Tim Scott accused Democrats of allowing political motivations to obstruct necessary financial innovation. The most recent version of the GENIUS Act reportedly removes references to the Trump family in an attempt to push the legislation through. Industry insiders believe the revised bill could pass by the end of May. Tether Backs Major Bitcoin Play Meanwhile, Tether recently made a large Bitcoin purchase on behalf of Twenty One Capital, a Bitcoin-focused investment firm it backs. Tether bought nearly half a billion dollars' worth of BTC in anticipation of the company’s upcoming public debut. According to a US Securities and Exchange Commission (SEC) filing on May 13, Tether purchased 4,812.2 Bitcoin for $458.7 million at an average price of $95,319 per coin. The purchase was transferred into an escrow wallet on May 9, boosting Twenty One’s total Bitcoin holdings to 36,312 BTC. This positioned Twenty One as the third-largest corporate Bitcoin holder globally, behind only Strategy and MARA Holdings. Strategy holds approximately 568,840 BTC, while MARA controls around 48,237 BTC, according to BitcoinTreasuries.net . Once the firm completes its Special Purpose Acquisition Company (SPAC) merger with Cantor Equity Partners, it plans to trade under the ticker XXI. The merger is still undergoing regulatory approvals, though CEO Jack Mallers confirmed the process is underway. Tether, along with crypto exchange Bitfinex, holds a majority stake in Twenty One. The merger is being sponsored by Cantor Fitzgerald, a major Wall Street player providing financial advisory services and securing $585 million to help fund the firm’s growing Bitcoin portfolio. Japanese investment conglomerate SoftBank also threw its weight behind the venture by contributing $900 million. Together, Tether, SoftBank, and Bitfinex want to help Twenty One reach a total of 42,000 BTC before to its public listing, with Tether expected to contribute 23,950 BTC, SoftBank 10,500 BTC, and Bitfinex roughly 7,000 BTC in exchange for equity . In an April presentation, Twenty One laid out its ambition to surpass Strategy as the leading Bitcoin investment vehicle. It markets itself as a “pure play” for institutional and retail investors looking for capital-efficient Bitcoin exposure. Twenty One plans to use Bitcoin per share as its primary performance indicator.

19 May 2025, 13:15

Binance, Kraken Foil Social Engineering Hacks on Support Staff: Reports

Binance and Kraken blocked insider attacks using internal security and access controls Attackers used bribes and Telegram to target exchange staff, mirroring the Coinbase breach Coinbase faces $180M–$400M in costs after insider access led to major customer data leak Two major cryptocurrency exchanges, Binance and Kraken, reportedly prevented recent social engineering breaches aimed at their customer service teams. These actions averted a security incident similar in nature to the recent Coinbase compromise. According to reports , the failed attacks involved attackers offering bribes and sharing instructions via Telegram; importantly, these attempts were detected before any customer data was exposed. Attack Tactics Echo Coinbase Compromise Involving Insiders, Overseas Staff The attempts focused on persuading support agents at both Binance and Kraken to reveal sensitive user data or allow unauthorized system access. Attackers contacted staff directly, offered money for cooperation, and gave Telegram* handles for more communication. These methods closely match tactics used in the Coinbase breach, where insiders reportedly got paid to release client infor… The post Binance, Kraken Foil Social Engineering Hacks on Support Staff: Reports appeared first on Coin Edition .

19 May 2025, 12:53

Pi Network (PI) Hits a New ATH, But It’s Not What You Think

TL;DR Nearly 400 million PI tokens are now held on exchanges, with major unlocks ahead, raising concerns about increased sell pressure and potential downside risk. After a sharp rally driven by speculation and excitement, PI dropped over 50% following the project’s $100M initiative reveal, reflecting a classic “buy the rumor, sell the news” pattern. PI Peaks on This Front Earlier today (May 19), the X user MOON JEFF (who often touches upon different news about Pi Network) estimated that the number of PI tokens on exchanges had reached an all-time high of almost 400 million. OKX leads the pack, with a balance of over 117 million coins, while Bitget comes second with a stash of approximately 107.7 million. MOON JEFF added that the figure might rise further after the unlocks scheduled for the next 24 hours. Data shows that over 7 million coins will be released on May 19 , whereas the total unlock set for the following 30 days equals almost 270 million PI. The record day is expected to be May 28, when more than 15 million tokens will be freed up . PI Token Unlock Schedule. Source: Piscan The aforementioned factors suggest a potential bearish perspective for the price in the short term. The inflow of assets to exchanges could indicate that holders are preparing to cash out. The major token unlocks also increase the selling pressure since it will give some investors the opportunity to part with coins they’ve been waiting for a long time. Price Outlook PI was at the forefront of gains between May 8 and May 12. Back then, the team behind Pi Network infused excitement by promising to publish a big announcement in the following week. Some X users speculated the upcoming disclosure could be the long-awaited asset listing on Binance. The hype could have been among the reasons that fueled a sharp rally, sending the price soaring nearly 200% to over $1.70, its highest in two months. On May 14, the project disclosed the launch of a $100 million initiative (held in PI and USD) to invest in startups and businesses that “advance the utility and real-adoption of PI.” The coin’s valuation dropped significantly shortly before and especially after the announcement. The downtrend continued, and PI tumbled to a local bottom of nearly $0.65 in the following days, resembling a classic “buy the rumor, sell the news event.” In the past few days, PI has recovered some of its losses and currently trades at around $0.72 (per CoinGecko’s data), but this still represents a whopping 52% weekly decline. PI Price, Source: CoinGecko The post Pi Network (PI) Hits a New ATH, But It’s Not What You Think appeared first on CryptoPotato .

19 May 2025, 12:51

Quantum BioPharma Expands Cryptocurrency Holdings with $1 Million Bitcoin Purchase

Quantum BioPharma, a company listed on the stock exchange, has recently unveiled its decision to allocate an additional $1 million towards acquiring Bitcoin and a selection of other cryptocurrencies. This