20 May 2025, 18:36

Energy Company’s Latest Bitcoin Buy Brings Treasury to $78 Million

Energy storage company KULR Technology Group has bought an additional $9 million Bitcoin for its corporate treasury, the company announced Tuesday.

20 May 2025, 18:35

SEC Delays XRP Spot ETF Decision Again – Bloomberg Analyst Reveals Dates He Expects Approval to Come

The U.S. Securities and Exchange Commission (SEC) has postponed its final decision on the spot XRP exchange-traded fund (ETF) proposed by 21Shares. It has been reported that the process regarding the rule change application for the “21Shares Core XRP Trust”, which is planned to be listed on the Cboe BZX Exchange, has been extended. In the official document published by the SEC on May 20, 2025, it was stated that the evaluation process of the proposal for the fund named “21Shares Core XRP Trust” to be listed and traded as a “commodity-based investment fund share” under BZX Rule 14.11(e)(4) is ongoing. The first application was made on February 6, and the proposal was resubmitted with changes on February 12. Related News: Analysis Company Releases Predictions for the Fate of 41 Altcoins: Here's the List Bloomberg ETF analyst James Seyffart, who made an assessment on the subject, said that delays were expected and said: “Delays are to be expected for spot crypto ETFs. There are several more XRP ETP applications coming up in the coming days. Even if we were to see early approval from the SEC, it would be late June or early July at the earliest. The more likely time frame is Q4.” *This is not investment advice. Continue Reading: SEC Delays XRP Spot ETF Decision Again – Bloomberg Analyst Reveals Dates He Expects Approval to Come

20 May 2025, 18:20

Australian Federal Police (AFP) Seizes Man’s 25 BTC Suspected of Bitcoin Theft

The Australian Federal Police (AFP) have seized the assets of a Queensland man, suspected of Bitcoin theft, confiscating a waterfront property, a Mercedes-Benz sedan, and 25 BTC worth around $2.6 million. Local news outlets have identified the man as Shane Stephen Duffy. The seizure of assets comes after Luxembourg authorities tipped off AUSTRAC, Australia’s financial intelligence agency, that the Queenslander was involved in a major Bitcoin theft. AFP further announced that the Bitcoin was seized some time ago, so the value of the crypto may have been priced at a different level when the AFP sold the tokens. Australian authorities also claim that the man had been previously convicted of hacking an American company. “A CACT investigation”, announced the AFP, “began in September 2018, after law enforcement partners in Luxembourg contacted AUSTRAC regarding suspicious Bitcoin transactions, linked to a Queensland man previously convicted of hacking a gaming company in the United States. The investigation identified suspected links between the man and the theft of 950 Bitcoin from a French cryptocurrency exchange in 2013. No criminal charges eventuated; however, the Commonwealth’s proceeds of crime laws allow the CACT to restrain suspected proceeds of crime, regardless of whether there is a related criminal prosecution”. The AFP announced on their website that federal authorities seized around $4.5 million in assets, including a beachfront mansion, a luxury car, and Bitcoin. The investigation began in 2018 by the AFP’s Criminal Assets Confiscation Taskforce (CACT), which was able to link stolen Bitcoin to the Queenslander. CACT can seize assets despite no conviction, because the Australian Proceeds of Crime Act allows federal police to seize assets suspected of being connected to criminal activity. The AFP argues that his wealth far exceeded the amount of his legitimate earnings. They used this reasoning to seize all of his assets. A court ruling in April 2025 allowed the AFP to use the seized funds to pay for crime prevention programs. CACT has seized over $1.2 billion in assets since its creation in 2012. Shane Stephen Duffy, identified by local news outlets, pleaded guilty to hacking League of Legends players in 2016. However, despite Duffy pleading guilty to computer hacking and fraud, he didn’t directly hack League of Legends but obtained the data online and sold it for a profit. The original League of Legends hack occurred in 2011. There were over 5 million users whose data was compromised. Moreover, Duffy hacked the Riot Games X account to promote his data-selling business. The business promised to provide access to League of Legends accounts for a price. The Proceeds of Crime Act allows Australian officials to confiscate assets if a person can’t show that their assets came from honest work. The AFP, therefore, does not need to wait for a court case and can confiscate assets, such as cryptocurrencies, if it can prove that the assets came from dubious origins. Critics of these powers suggest that authorities could misuse them. However, supporters of these powers say that federal authorities need such powers to disrupt criminal networks. Duffy’s beachside house, Mercedes-Benz, and Bitcoin collection will be used by federal authorities to fund community awareness programs.

20 May 2025, 18:05

How Ripple Could Become One of the Largest United States Treasury Holders

As regulatory clarity around stablecoins in the U.S. takes shape, Ripple is emerging as a strategic contender in a sector that could soon wield immense influence over the U.S. Treasury market. With the rollout of its stablecoin and reported acquisition efforts targeting Circle, the issuer of USDC, Ripple could be positioning itself to become a dominant holder of U.S. government debt. Ripple’s Growing Interest in Stablecoins Ripple made its official entrance into the stablecoin ecosystem in late 2024 with the launch of RLUSD , a dollar-backed token structured similarly to its top competitors. The backing model for RLUSD includes U.S. Treasury securities, fiat dollar reserves, and near-cash instruments—mirroring the practices of leading stablecoin issuers such as Tether and Circle. Within just half a year, RLUSD has already amassed a circulating supply valued at over $321 million, placing it in the top tier of global stablecoins. But Ripple’s ambitions seem to extend far beyond just launching a token—it is seeking to broaden its stablecoin reach dramatically. Strategic Ambitions: Ripple’s Bid for Circle Per previous report, Ripple extended a $4–5 billion offer to acquire Circle , the company behind USDC, the second-largest stablecoin by market capitalization. Though Circle ultimately declined the offer, the bid underscores Ripple’s desire to expand its footprint within the digital dollar ecosystem. Circle, which filed for a $5 billion IPO in April 2025, has also held separate discussions with Coinbase, a company with which it shares governance rights and revenue from USDC. While Coinbase appears to be a more natural acquirer, Ripple’s substantial reserves—including an estimated $13 billion worth of XRP and access to an additional $86 billion held in escrow—give it the financial power to pursue major acquisitions. U.S. Legislation Sets the Stage for Stablecoin-Backed Treasuries The evolving regulatory landscape is a key catalyst for Ripple’s strategic moves. The GENIUS Act, which has made significant progress in the Senate with bipartisan backing, proposes a comprehensive legal framework for stablecoin issuance in the United States. With a 66–32 procedural vote moving it toward the Senate floor, the bill represents a major turning point for digital asset regulation. If passed, it could legitimize stablecoins as mainstream financial instruments, requiring issuers to maintain robust reserves, likely composed heavily of U.S. Treasury bills. U.S. Treasuries: The New Battleground for Stablecoin Dominance According to Senator Bill Hagerty , stablecoin issuers are on track to become some of the largest holders of U.S. government debt by the end of the decade. Citing insights from Citibank, Hagerty pointed out that as stablecoins grow in market share, so too will their Treasury holdings—echoing the way money market funds operate today. Stablecoin issuers will be the largest holders of U.S. treasuries in the world. pic.twitter.com/Z8uoYdhmcs — Senator Bill Hagerty (@SenatorHagerty) May 19, 2025 At present, issuers like Tether and Circle collectively hold approximately $150 billion in U.S. debt instruments. Yet with industry forecasts predicting a $2 trillion stablecoin market by 2028, the demand for Treasuries could skyrocket. Citibank projects that stablecoin entities could soon surpass the Treasury holdings of any single foreign country. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Ripple’s Potential Trajectory as a Treasury Powerhouse Should Ripple succeed in scaling RLUSD and eventually securing ownership or influence over USDC, it would be in a position to control reserve pools worth tens—if not hundreds—of billions of dollars. These reserves, largely held in short-term U.S. Treasuries, would be necessary to ensure price stability, regulatory compliance, and user confidence. While Tether is currently the leading private holder of U.S. government securities, Ripple’s regulatory posture and deep financial resources could make it a preferred issuer in the eyes of both lawmakers and institutions, especially under stricter legal frameworks. A Quiet Revolution in Treasury Markets Ripple’s evolving role in the stablecoin industry could dramatically reshape the landscape of U.S. debt markets. With regulation aligning and the company aggressively expanding its influence, Ripple may well become one of the largest private holders of U.S. Treasuries, not just to support RLUSD but as a cornerstone in a rapidly digitizing financial system. As digital dollars become globally sought-after assets, Ripple’s strategic moves today could translate into unprecedented financial clout tomorrow, anchored by the most trusted instruments in global finance: U.S. Treasury bills. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post How Ripple Could Become One of the Largest United States Treasury Holders appeared first on Times Tabloid .

20 May 2025, 18:02

Sui (SUI) Hits $3.80 Price Tag, But Experts Suggest Ruvi AI (RUVI) As The Next 13,700% Project Of The Bull Run

Sui (SUI) stands resilient at $3.80, showcasing impressive recovery after holding strong support at this level. This scalable blockchain platform continues to shine, maintaining its position as a leading Layer 1 network for DeFi innovations and powering next-gen decentralized applications. Yet, while Sui strengthens its market traction, Ruvi AI is capturing the attention of investors with its unique decentralized AI superapp technology. Ruvi AI Leading the Decentralized Revolution Ruvi AI is redefining boundaries by blending the world of AI and blockchain technology. Focused on efficient, scalable, and inclusive solutions, Ruvi offers a community-oriented ecosystem designed for global impact. With its robust fundamentals, Ruvi empowers industries to adopt cutting-edge AI while nurturing user-friendly platforms. Ruvi's collaboration with the WEEX Exchange marks a strategic leap forward, ensuring enhanced visibility and global accessibility.. Staggering Success of Ruvi AI's Presale Ruvi AI's presale has quickly become one of the most talked-about opportunities in the crypto world, drawing waves of early adopters with its strong growth potential: Phase 1 sold out in just over two weeks, rewarding early backers with a 50% return. Currently priced at $0.015, the next phase promises a 0.33% price increment. Industry analysts predict Ruvi AI’s token value could skyrocket to an ambitious $1, reaffirming its extraordinary potential. Investment Tiers and Extraordinary Returns Ruvi AI tailors its investment opportunities to suit diverse portfolios, offering unmatched returns for participants at all levels. Below are the clear figures from Ruvi's tiered system: VIP Tier 1 ($480 investment with a 20% bonus): Tokens received: 38,400 (32,000 base + 6,400 bonus). Returns at $0.07 (end of presale): $2,688. Returns at $1: $38,400. VIP Tier 3 ($1,650 investment with a 60% bonus): Tokens received: 176,000 (110,000 base + 66,000 bonus). Returns at $0.07 (end of presale): $12,320. Returns at $1: $176,000. VIP Tier 5 ($9,000 investment with a 100% bonus): Tokens received: 1,200,000. Returns at $0.07 (end of presale): $84,000. Returns at $1: $1,200,000. Leaderboard Rewards for Active Participants Ruvi AI also introduces a competitive leaderboard system, rewarding investor engagement with massive incentives: Top 10 Contributors: 500,000 bonus tokens, worth $35,000 at $0.07 or $500,000 at $1. Top 50 Contributors: 250,000 bonus tokens, valued at $17,500 at $0.07 or $250,000 at $1. Top 100 Contributors: 100,000 bonus tokens, equating to $7,000 at $0.07 or $100,000 at $1. Now Is the Time to Invest in the Future Ruvi AI offers an unique intersection between artificial intelligence and blockchain innovation, setting a mark for the industry. Its fast selling presale, strategic partnerships, and possible major growth make it a must-consider investment for any investors! Learn More Buy RUVI: https://presale.ruvi.io Website: https://ruvi.io Whitepaper: https://docs.ruvi.io Telegram: https://t.me/ruviofficial Twitter/X: https://x.com/RuviAI Try RUVI AI: https://web.ruvi.io/register Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

20 May 2025, 18:00

Coinbase CEO's journey from no 'political causes' to hiring DOGE staff

Five years ago, Brian Armstrong wanted employees of his cryptocurrency exchange to refrain from expressing political views at work. Now, the Coinbase CEO seems to be open to involvement with Republican figures, including members of US President Donald Trump’s inner circle. In a May 13 X post, Armstrong said members of the Department of Government Efficiency (DOGE) team, spearheaded by Elon Musk, though not set up as an actual department, would be welcome to implement cost-cutting changes at Coinbase after leaving the US government. Armstrong offered to set up an accelerated onboarding process with the exchange, responding to an interview in which at least one DOGE staffer felt ostracized from Harvard University, where he had been enrolled. “If you are looking for your next mission after serving your country, consider helping create a more efficient financial system for the world at Coinbase,” Armstrong said. Since assuming a government position at the White House in January, Musk and the DOGE team have faced criticism from both sides of the aisle over their cuts, which often forced out or fired experienced employees without proper notice. Lawsuits halting DOGE’s efforts or challenging dismissals are pending in federal court from parties alleging illegal or unconstitutional actions. Coinbase once called itself a ‘mission-focused company’ Armstrong’s remarks, suggesting approval of DOGE’s actions, represented a sharp departure from the CEO’s position before Trump’s second term. At the time, many of the companies and executives in California’s Silicon Valley seemed to be more publicly aligned with Democrats. In 2020, amid the COVID-19 pandemic, the death of George Floyd at the hands of police officers in Minneapolis spurred nationwide outrage and protests, prompting many companies to take a public position. Armstrong issued a notice at the time saying that Coinbase was a “mission-focused company” that didn’t “advocate for any particular causes or candidates.” In response to Armstrong not publicly supporting the Black Lives Matter movement, many Coinbase employees organized a walkout. The CEO responded by claiming the crypto exchange had an “apolitical culture” and that roughly 5% of Coinbase staff who “didn’t feel they could be on board with this direction” had accepted an exit package. Related: Coinbase considered Saylor-like Bitcoin strategy before opting out: Bloomberg Less than a month later, Armstrong retweeted a post suggesting he could support Kanye West for US President in 2020. After that time, the CEO made few public statements related to politics and US laws, though he did push for clarification on crypto tax rules in 2021. Stand with Crypto moves Coinbase closer to political advocacy It’s not entirely clear how Armstrong, at least in public, moved to be more aligned with political figures. However, for Coinbase, which the CEO said was intended to be “apolitical,” the change seemed to have started around the time the company received a Wells notice from the Securities and Exchange Commission (SEC) in March 2023, suggesting a potential enforcement action. Armstrong, like many in the crypto industry, had often criticized the SEC before 2023 for not offering regulatory guidelines to follow, but the Wells notice and subsequent lawsuit seemed to move Coinbase from participating in a national political discussion on digital assets to outright advocacy. The company announced the launch of the Stand with Crypto Alliance in August 2023, a group “focused on mobilizing the crypto community to directly engage in the legislative process.” Before Stand with Crypto, Armstrong used his platform to call on crypto supporters to contact their elected officials about digital asset bills moving through Congress. Even with this initiative tied to the exchange and CEO, the focus wasn’t on partisan politics, but “common-sense legislation to protect consumers and their right to crypto.” “Being anti-crypto is a really bad political strategy going into 2024,” said Armstrong in a December 2023 X post, in response to legislation aimed at fighting money laundering with digital assets. Enter Trump and the 2024 election cycle In contrast to the 2020 election and even the 2022 midterms, the 2024 cycle stood out in more ways than one. For the first time, a presidential candidate was openly advocating for policies favoring cryptocurrency. The amount of money flowing from companies in the industry, including Coinbase, into federal elections also reached a record high. Stand with Crypto, as an advocacy organization, was no exception. The group launched its own political action committee (PAC) in May 2024, allowing it to influence the elections through media buys and direct contributions. Though Stand with Crypto still organized like-minded voters, its efforts included a renewed focus on money. It stood alongside the Fairshake PAC, a committee backed by roughly $45 million from Coinbase and $45 million from Ripple, which spent more than $130 million in the 2024 election cycle. Armstrong personally contributed $1 million to Fairshake. Though the Coinbase CEO suggested a political preference, he seemed not to take a strong position at the exchange ahead of the election. In Coinbase’s shareholder letter for the third quarter of 2024, the exchange said it was “prepared to work with either administration” in the US, whether that meant Trump or Democratic candidate Kamala Harris. More front-facing in Washington, DC Armstrong became more of a presence on Capitol Hill and among members of the Trump administration after the results of the 2024 election. He personally met with the then-president-elect in November and reportedly attended at least one of the inauguration events with other cryptocurrency executives. Coinbase also donated $1 million to Trump’s inauguration fund. In February, the exchange announced that the SEC would be dropping its enforcement action , marking one of many crypto-related lawsuits the regulator has dismissed under Trump. Armstrong said at the time that the move was “an important signal about where things are going.” The CEO was going to Washington, DC, seemingly more frequently than he had before this administration took power. In addition to inauguration events, Armstrong attended a crypto summit at the White House with Trump and other high-level executives and spoke with lawmakers in the Capitol to support bills establishing a regulatory framework for payment stablecoins and crypto markets. Coinbase CEO in the US Capitol rotunda on May 14. Source: Brian Armstrong The president faces scrutiny from lawmakers and industry leaders about his ties to the crypto industry, from his family-backed platform World Liberty Financial to his own memecoin, which was launched in January. Cointelegraph reached out to Coinbase and Armstrong but had not received a response at the time of publication. “It’s not my place to really comment on President Trump’s activity,” said Armstrong in response to concerns about the president’s potential conflicts of interest over stablecoins. Where the CEO takes Coinbase and his role in influencing the US government remains to be seen. There are fewer legal burdens and an administration that is seemingly friendly to the industry and Armstrong personally. Magazine: Elon Musk’s plan to run government on blockchain faces uphill battle