Crypto News

Vance says US should use bitcoin as an advantage in rivalry with China (Reuters) - China's wariness of bitcoin (BTC-USD) should encourage the U.S. to embrace the world's largest cryptocurrency and build on its strategic advantage in the digital asset, U.S. Vice President JD Vance said on Wednesday. As the White House pushes for an overhaul of crypto policy, Vance said bitcoin will be a strategically important asset for the United States over the next decade. Speaking at the Bitcoin Conference in Las Vegas, Vance applauded President Donald Trump's executive order in March that created a strategic bitcoin reserve with tokens already owned by the government. Crypto trading and mining has been banned in China since 2021. "The People's...

Vance urges crypto industry to stay involved in politics as he touts Trump administration's record Vice President JD Vance praised the cryptocurrency industry and urged it to remain active in U.S. politics and policymaking. He highlighted the Trump administration's close ties to a deep-pocketed industry that has become a powerful force in Washington. Speaking at a bitcoin conference in Las Vegas, Vance urged crypto executives and enthusiasts to keep pressure on Congress to pass pro-crypto legislation supported by the White House. “We have a once-in-a-generation opportunity to unleash innovation and use it to improve the lives of countless American citizens,” Vance said in his address. “But if we fail to create regulatory clarity...

Ripple CEO donates ‘skull of Satoshi’ in surprise peace offering While Bitcoin is the largest cryptocurrency, other leading cryptocurrencies, such as Ethereum, XRP, and SOL, are always vying to capture the top spot. Though the intense competition among different crypto assets often leads to heated debates among the community, it ultimately benefits users as blockchain networks keep getting faster and safer due to the continuous efforts of the developers to attract a larger user base. Amid such intense rivalry, Brad Garlinghouse, the billionaire CEO of the blockchain tech and payments firm Ripple, has extended an olive branch to bridge the gap between different crypto communities. On May 28, it came to light that Ripple donated an art...

James Wynn loses $55M after high-leverage bet Hyperliquid's most well-known whale, self-described "high-risk leverage trader" James Wynn, is experiencing a massive loss after abandoning his substantial Bitcoin exposure following a harsh seven-day drawdown, according to data. At 16:00 UTC on Tuesday, Wynn closed parts of a 40× leveraged long position, leaving a $200 million BTC-perp position with an unrealized loss of approximately $800,000. Between May 5 and May 23, Wynn's cumulative profit skyrocketed from $5.7 million to $87 million, before plummeting to $1.91 million today—a $55.3 million swing over one week. Wynn shot to fame in March when he started streaming his Hyperliquid trades, making $46.5 million in under 2 months, and...

Gold is timeless. From coins to bars to jewelry, gold has been a form of currency and an investment for thousands of years. Over the past year — amid a volatile stock market — gold prices have seen a resurgence. And if you had invested just a year ago, you might have a bit more money than you started with. Gold Prices Over the Past Year Gold prices have risen quite a bit over the years. Currently, gold is priced at around $3,306 per ounce. This is nearly double the price of around $1,800 per ounce that gold was selling for just a few years ago. Gold has also outpaced the S&P 500 in 2025 and over the past year. While gold has gained about 40% over the past year as of May 28, the S&P has seen a gain of about 12%. This means gold...

None Key Takeaways GameStop (GME) shares fell in Wednesday morning trading after the video game retailer disclosed the purchase of 4,710 Bitcoin (BTCUSD) in a press release. The company did not disclose when the purchase was made, at what price the Bitcoin was purchased, or whether it was acquired through one or multiple transactions. At its current prices of roughly $108,000, the Bitcoin that GameStop recently purchased is worth north of $500 million. The retailer added Bitcoin to its official corporate investment policy in March, following months of reports and social media posts fueling speculation that GameStop was considering investing in Bitcoin. After adding the cryptocurrency to its policy, GameStop said it was planning to...

Why "wrench attacks" on wealthy crypto holders are on the rise The headline-grabbing tale of an Italian man who said he was kidnapped and tortured for weeks inside an upscale Manhattan townhouse by captors seeking his bitcoin highlights a dark corner of the cryptocurrency world: the threat of violence by thieves seeking digital assets. The alleged attempted robbery is known as a “wrench attack.” It’s a name popularized by an online comic that mocked how easily high-tech security can be undone by hitting someone with a wrench until they give up passwords. Wrench attacks are on the rise thanks in part to cryptocurrency’s move into mainstream finance, Phil Ariss of the crypto tracing firm TRM Labs said in a recent blog post. “Criminal...

GameStop makes heads turn with surprising treasury move GameStop (NYSE: GME), the American gaming merchandise retailer, made a surprising move by acquiring 4,710 Bitcoin to add to its corporate balance sheet on May 28. It was exactly two months earlier that the gaming company announced on March 28 that it had realigned its investment policy to hold certain cryptocurrency assets, including Bitcoin and U.S. dollar–pegged stablecoins. The move was widely understood to be an imitation of the Bitcoin acquisition playbook of Michael Saylor's Strategy (Nasdaq: MSTR), formerly MicroStrategy. Following the announcement of its first Bitcoin acquisition, the GME stock immediately jumped 7% and was exchanging hands at $36.67 in pre-market...

Goldman Sachs Analyst Predicts $4,000 Gold, Calls It a Better Hedge Than Bitcoin Gold is set to shine even brighter, according to Goldman Sachs. Daan Struyven, the bank’s co-head of global commodities research, says gold could soar to $4,000 per troy ounce by mid-2026, positioning the precious metal as a superior hedge compared to Bitcoin. In a discussion with strategy firm Veriten, Struyven made a compelling case for gold’s continued rise, citing supply scarcity and investor demand amid inflation fears. “Supply is very limited. The vast majority of the available gold supply has already been mined,” Struyven explained. “And Bitcoin supply, by design, is limited, and I think this limited supply gives some confidence to investors who...

GameStop is the latest publicly traded company to invest in bitcoin. (AP Photo/David Zalubowski, file) GameStop stock slides as company announces $500 million bitcoin purchase GameStop (GME) stock sank more than 3% on Wednesday after the video game retailer announced it has purchased 4,710 bitcoin (BTC-USD). With bitcoin trading around $108,000 per token in early trading, the investment is valued at over $500 million. The token reached a record high north of $111,000 last week. In March, the company led by billionaire Ryan Cohen formally announced its board unanimously approved adding the cryptocurrency as a treasury reserve asset. Subsequently, the meme stock tumbled nearly 25% in one session after the retailer said it intended...

GameStop Pulls the Trigger, Discloses $513 Million Bitcoin Investment GameStop Corp (NYSE:GME) shares climbed over 2%, but pared back some gains premarket Wednesday, after the video game retailer disclosed a $513 million investment in bitcoin, a significant step in its strategy to diversify assets and strengthen its balance sheet. The company announced the acquisition of approximately 4,710 bitcoins in a regulatory filing, though it did not detail the timing of the purchases. This marks GameStop’s first direct foray into cryptocurrency holdings since it signaled its intent to invest in digital assets earlier this year. The move echoes a growing trend among corporations looking to incorporate alternative asset classes amid persistent...

GameStop purchases $500 million in bitcoin in first crypto push GameStop on Wednesday announced it has bought 4,710 bitcoin, worth over $500 million, as the video game retailer makes its first major foray into cryptocurrency. GameStop's stock price jumped 92 cents, or 2.6%, to $35.97 before the start of trade Wednesday. The shares, dubbed a "meme stock" in recent years as retail investors piled into the company despite its lack of profits, has surged more than 84% over the last 12 months. —This is a developing story and will be updated. Trump delivers Memorial Day remarks at Arlington National Cemetery SpaceX loses contact with its Starship, spins out of control Elon Musk estimates when SpaceX will launch its first uncrewed...

President Donald Trump’s family’s net worth has increased in recent months, with a significant chunk of that growth tied to cryptocurrency. A recent CBS News report estimated the Trump family’s net worth rose by $2.9 billion, 40% of which came from crypto-related ventures. But financial experts warn that average investors may not be able to expect the same results. Here are three key reasons Trump profited from crypto and why those same factors might not apply to everyday investors. He Created the Coin Trump didn’t just invest in crypto; he created it. Much of the gains came from coins like $TRUMP and $MELANIA, which were launched and are largely owned by his companies. Axios estimated that 89% of Trump’s net worth was comprised of...

GameStop buys bitcoin worth $513 million in crypto push GameStop (GME) has purchased bitcoin (BTC-USD) worth about $513 million, the company said on Wednesday as the ailing video game retailer looks to capitalize on the growing adoption of cryptocurrencies globally. GameStop said in a filing it acquired 4,710 bitcoins, although it did not disclose the period for the purchases. The world's largest cryptocurrency was trading down 0.7% at $108,903 by 7 a.m. ET. The purchases are GameStop's first bitcoin purchase since unveiling its plans in March to invest in the digital asset, adopting a strategy pioneered by Michael Saylor's Strategy (MSTR), an enterprise software company and the largest corporate holder of bitcoin. Strategy's stock...

Image source: Getty Images. Key Points Warren Buffett's incredible track record allocating capital for Berkshire Hathaway makes him a legend. For the average investor, following the conglomerate's portfolio to find potential ideas is a smart use of time. In Berkshire's massive $277 billion portfolio, one well-known consumer brand is currently the third-largest position. There's no doubt that investors are familiar with this business, as it's been around for over a century. If you invest $1,000 in this top dividend stock, could you become a millionaire one day? Generating sizable income for Berkshire Berkshire has a stake in numerous companies. However, it owns a whopping 400 million shares in Coca-Cola (NYSE: KO), giving it...

Worldpay and BVNK collaborate on stablecoin payouts Payments company Worldpay has joined forces with BVNK, a South African stablecoin payments firm, to introduce stablecoin payout capabilities for Worldpay's global clientele. The service, leveraging BVNK's embedded wallets infrastructure, will enable clients to issue payments in stablecoins to various beneficiaries such as customers, contractors, and sellers in over 180 markets. The transactions will be made “nearly instantly”, without the clients' direct involvement in managing digital assets, BVNK VP of Platform Partnerships Jane McEvoy said in a blog post. Worldpay's existing payouts platform will integrate this new payment feature, with stablecoins being the inaugural digital...

Image source: Getty Images. Key Points With Bitcoin (CRYPTO: BTC), the world's largest cryptocurrency, recently surpassing $111,000, few investors have done better than MicroStrategy's co-founder Michael Saylor. Saylor made a significant bet on Bitcoin in 2020, investing most of the company's remaining capital in Bitcoin, and has been rewarded ever since. MicroStrategy (now doing business as Strategy) stock is up roughly 2,930% since the company began buying Bitcoin in 2020, and the company now owns more than 2% of all the tokens outstanding. Although Saylor and MicroStrategy have already done better than most could have ever imagined, Saylor says he thinks that Bitcoin's run has only just begun. Can Bitcoin 20x? Despite Bitcoin's...

US Banks Tiptoe Toward Crypto Amid Regulatory Shifts NEW YORK (Reuters) - Big U.S. banks are holding internal discussions about expanding into cryptocurrencies as they receive stronger endorsements from regulators, but initial steps will be tentative, centering on pilot programs, partnerships, or limited crypto trading, according to four industry executives. Wall Street giants that had been largely blocked from many crypto activities by strict regulations are poised to grow quickly. Yet the biggest lenders are still hesitant to be the first among rivals to expand too heavily into crypto in case they fall afoul of changing rules, said the four executives, who declined to be identified since they were discussing internal business plans...

Indonesia antitrust agency finds risk of monopoly from TikTok's Tokopedia takeover JAKARTA (Reuters) -Indonesia's antitrust agency said on Wednesday that last year's takeover of the country's biggest e-commerce platform Tokopedia by TikTok carried a risk of monopoly. TikTok, owned by China's ByteDance, in January 2024 completed a deal that was agreed a month earlier to buy 75.01% of Tokopedia for $840 million from GoTo. This article has been published in reuters.com via Yahoo News. https://finance.yahoo.com/news/indonesia-antitrust-agency-finds-risk-095652844.html

Sui Network Steps in to Compensate Cetus Losses in Full After $223M Exploit Cetus Protocol, the largest decentralized exchange (DEX) on the Sui blockchain, has secured a loan from the Sui Foundation to compensate users in full following a $223 million exploit last week. These funds apply only to cover the bridged assets and are separate from the frozen funds subject to an on-chain community vote. “Using our cash and token treasuries, we are now in a position to fully cover the stolen assets currently off-chain if the locked funds are recovered through the upcoming community vote,” Cetus said in a post. “This includes a critical loan from the Sui Foundation, making a 100% recovery for all affected users possible.” The recovery plan...