15 May 2025, 06:12

Trump Administration’s SLR Regulation Relaxation: A Catalyst for Bitcoin’s Bullish Trend

The Financial Times has reported that the Trump administration is poised to make a notable shift by relaxing the Supplementary Leverage Ratio (SLR) regulation, representing the most significant adjustment in

15 May 2025, 06:05

Coinbase Chief Signals More Deals After $2.9B Deribit Move

Coinbase chief executive Brian Armstrong has signaled that the company will continue to explore mergers and acquisitions after its recent $2.9b deal to acquire the crypto derivatives exchange Deribit. Speaking to Bloomberg Television on Wednesday, Armstrong reaffirmed Coinbase’s commitment to growth through strategic acquisitions, noting that the company has ample financial resources to pursue such opportunities. “We are always looking at M&A opportunities,” Armstrong said. “We have a large balance sheet that can be put to use. Part of the benefit of being a public company is, you have a liquid currency to do that.” Further, Armstrong said that while Coinbase is actively considering acquisitions, it is selective about which opportunities to pursue. Coinbase CEO Brian Armstrong is on Capitol Hill as crypto executives push for stablecoin legislation to be revived. Senators are working on legislation backed by the crypto industry that faltered after a furor over President Trump’s crypto ventures https://t.co/tm6T3OeNVd pic.twitter.com/gjhEkIXn3i — Bloomberg TV (@BloombergTV) May 14, 2025 Armstrong Silent on Potential Circle Acquisition The CEO specifically pointed to international markets and companies with similar business models as areas of focus for future acquisitions. When asked about the possibility of acquiring stablecoin issuer Circle, with which Coinbase already shares revenue, Armstrong did not provide a definitive answer, stating he had “nothing to announce today.” Meanwhile, Ripple’s attempt to acquire Circle was reportedly rejected as its offer was deemed too low. Circle has also filed to go public. Deribit Deal Solidifies Coinbase Strategy to Expand into Crypto Derivatives Market Coinbase’s acquisition of Deribit, the largest global exchange for Bitcoin and Ether options, is a significant move. It reflects the company’s goal to strengthen its position in the crypto derivatives market. The $2.9b deal includes $700m in cash and 11m shares of Coinbase stock. This is subject to typical purchase price adjustments. In 2022, Deribit processed nearly $1.2t in volume. This shows the strategic importance of the acquisition as Coinbase works to diversify its offerings. The exchange has long been an active player in the crypto M&A space, consistently seeking to expand its market footprint. Armstrong’s comments suggest that the company will maintain this aggressive growth strategy, particularly in markets that can help accelerate its product development and growth. As it continues to build on its growth trajectory, the company is also poised to join the prestigious S&P 500 index next week. The post Coinbase Chief Signals More Deals After $2.9B Deribit Move appeared first on Cryptonews .

15 May 2025, 06:03

Sonic Labs wins judgment for Multichain Foundation to wind up

A Singapore High Court has ruled in favor of Sonic Labs’ motion to force the Multichain Foundation to wind up in an effort to recover funds stolen during a 2023 hack. In the May 9 judgment in the Singapore Supreme Court, Justice Kwek Mean Luck granted a request from Sonic Labs, formerly the Fantom Foundation, to declare Multichain bankrupt and appoint liquidators from global audit, tax and advisory service KPMG. Sonic Labs CEO Michael Kong said in a May 14 statement to X that the team behind the layer 1 Sonic blockchain felt it had no choice but to file a lawsuit to forcibly wind up Multichain because its former employees were being “completely uncooperative” and “hid from victims.” “Going forward, the liquidators can now start working with other parties to initiate the process of trying to acquire funds that should eventually be returned to users if those legal proceedings are successful,” Kong said. Source: Michael Kong In July 2023, the Multichain Foundation experienced abnormally large outflows , later confirmed as a hack, leading to the loss of assets across multiple chains, including Fantom, Ethereum, BNB, Cronos and Polygon. Blockchain security firm Beosin and Fantom estimated in an August 2023 report that the total losses for all chains were at least $210 million. Wind up action followed legal win The High Court of Singapore granted a default judgment ruling in January 2024 as part of Sonic Labs’ legal action against Multichain for breach of contract, fraudulent misrepresentations and claims the crosschain protocol had lost $122 million of its funds. Related: Multichain’s ‘mysterious withdrawals’ have whiffs of a ‘rug pull’ — Chainalysis Following the ruling, Sonic Labs said in March 2024 it would leverage the legal win to petition the court to wind up the Multichain Foundation and appoint a liquidator, equivalent to a Chapter 7 bankruptcy in the US, to help recover and distribute missing or frozen assets. Previously, Sonic Labs indicated it planned to use the legal win to forge a path for other victims of the Multichain hack to lodge claims for their losses as well. Multichain shut down in July 2024 due to a lack of operational funds, and after its CEO, known as Zhaojun, was detained by Chinese police . Magazine: Bitcoin eyes ‘crazy numbers,’ JD Vance set for Bitcoin talk: Hodler’s Digest, May 4 – 10

15 May 2025, 06:03

Only $1,200 to Dine With Trump? The Exclusive Investor Deal Explained

The post Only $1,200 to Dine With Trump? The Exclusive Investor Deal Explained appeared first on Coinpedia Fintech News Here’s another twist in the Trump memecoin world – some top holders say that the Gala dinner with Trump is just costing them $1,200 each. These five were among the top 220 time-weighted holders of the Trump memecoin over the past three weeks. Although it usually takes about $54,500 in holdings to get through, Christensen and his friends found a smarter way to do it in less. Made it to the $TRUMP dinner, now the hard part, convincing my wife to let me go pic.twitter.com/qff5nF0SGe — Morten (@Mortpoker) May 12, 2025 What Was The Strategy? They bought the memecoin, shorted the same amount to offset the risk, and then sold both positions as soon as the dinner winners were announced. Christensen, who runs AirdropAlert.com, said that with this strategy, attending the dinner didn’t really cost them anything, as they just paid some fees. “I didn’t even think it was in the possibility I’d go in to meet the president of the United States. We figured it won’t cost us that much to compete, so we gave it a shot and we made it,” 39-year-old Christensen said, as reported by Bloomberg . “ They joined the memecoin dinner contest at the last minute when they saw it wasn’t as tough as they expected. They even built a program to track the top holders and bought more tokens at the last minute to secure their spots. $320M Poured Into Trump Tokens for Trade and Crypto Plans Trump is hosting this dinner at his golf club, where the top 25 memecoin holders will also get a chance for a White House tour. Big companies like Freight Technologies plan to raise $20 million to build a Trump token treasury for U.S.-Mexico trade. Meanwhile, China-linked GD Culture Group aims to gather $300 million to create a reserve with Bitcoin and Trump tokens. However, some have called this dinner a “pay-to-play” scheme. The Democrats also delayed the stablecoin rules over concerns that Trump’s family’s growing crypto ties could cause problems. As per recent reports, investors have spent over $148 million for a chance to dine with the President, as he called it the “most exclusive invitation”. The coin is currently trading at $13.20. The memecoin’s value had soared to $15 billion but has since dropped to about $2.7 billion.

15 May 2025, 05:46

Brazil’s New Crypto Regulation Framework Targets Foreign Stablecoin Transfers

The post Brazil’s New Crypto Regulation Framework Targets Foreign Stablecoin Transfers appeared first on Coinpedia Fintech News Brazil is making massive strides in the cryptocurrency space, from becoming the first country in the world to launch a spot XRP ETF to planning its own stablecoin and embracing a Bitcoin reserve strategy. And now, it’s eyeing the country’s first sovereign bonds denominated in Chinese yuan, also known as Panda Bonds. This isn’t just another financial move, it’s Brazil quietly rewriting global money rules. Brazil Strengthening Ties With China By exploring yuan-denominated bonds, Brazil is signaling interest in deepening its economic ties with China, its biggest trading partner. These Panda Bonds would allow Brazil to borrow money in Chinese currency instead of U.S. dollars, the usual global choice. That’s a big move because it shows Brazil wants more flexibility and less reliance on the dollar, especially at a time when many countries are rethinking their dollar exposure. Though the bond plan is still under discussion and hasn’t been finalized, it reflects Brazil’s ambition to reshape its financial strategy. Meanwhile, some experts say this strategy could help diversify Brazil’s debt market and attract more investors from Asia. Tighter Rules for Stablecoin Transfers While looking outward with Panda Bonds, Brazil is tightening its grip on stablecoin transfers. As its central bank has proposed new rules that would limit stablecoin transfers to wallets outside Brazil. This is part of a wider crypto framework that aims to keep digital money safe and under better control. By preventing funds from moving easily to foreign-controlled wallets, the central bank wants to reduce risks like fraud, tax evasion, and untraceable money flows. It’s also a way to make sure that innovation in crypto doesn’t come at the cost of financial security. Brazil’s New Path: Innovation with Safety Brazil is clearly trying to play both offense and defense, pushing bold new ideas like the XRP ETF and Bitcoin reserves, while building stronger rules at home. Whether it’s Panda Bonds or stablecoin rules, Brazil is clearly taking the lead in crypto.

15 May 2025, 05:36

Blockchain Innovation Explored at Corporate Innovation Day 2025: Challenges and Opportunities for Global Trust and Security

Corporate Innovation Day 2025 in Geneva underscored blockchain’s transformative role across industries, emphasizing security, trust, and regulation as central themes. Discussions highlighted Geneva’s unique position as a global blockchain hub