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Telo News - Crypto | DeFi | Web3 avatar
Telo News - Crypto | DeFi | Web3
Cryptocurrencies
Telo News - Crypto | DeFi | Web3 avatar
Telo News - Crypto | DeFi | Web3
Cryptocurrencies
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The U.S. Fed kept the interest rates unchanged at 4.5% in line with consensus estimates.

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U.S. Senator Chris Murphy has introduced the MEME Act, a bill to ban the President and members of Congress from issuing memecoins—calling Trump Coin “the biggest corruption scandal in the history of the White House.”

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New Hampshire has enacted HB 302, making it the first U.S. state to create a Strategic Bitcoin and Digital Asset Reserve.

The law permits the state treasury to allocate up to 5% of funds into digital assets with a market cap over $500bn—currently only Bitcoin. It takes effect in 60 days.

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Both of Florida’s Bitcoin Reserve Bills, HB 487 and SB 550, have officially failed after the state legislature adjourned its 2025 session on May 2 without passing them.

The bills were indefinitely postponed and withdrawn from consideration.

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PumpFun has captured $294m in fees so far this year, surpassing Ethereum’s $249m, and has outpaced Ethereum in weekly fee capture for 9 consecutive weeks.

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Kyrgyzstan will launch a gold-backed stablecoin, USDKG, in Q3 2025, pegged 1:1 to the US dollar and backed by $500m in gold reserves.

The over-collateralized token aims to boost cross-border payments and remittances, with plans to scale reserves to $2bn and expand from Central Asia to Southeast Asia and the Middle East.

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Bitcoin outperformed both Gold and the S&P 500 in April, 2025, despite an early-month drop, highlighting its strong recovery and resilience.

BTC continues to closely track the S&P 500’s movements—but with higher alpha—offering greater upside during market rebounds.

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South Korea’s presidential frontrunner Lee Jae-myung has pledged to approve spot crypto ETFs and implement monitoring systems to ensure safer investment conditions.

The country’s financial regulator expressed support for the initiative and plans to coordinate with the incoming administration after the June 3 election.

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UK Treasury Secretary Emma Reynolds ruled out creating a national crypto reserve, saying the approach taken by the U.S. “is not the plan for us.”

Instead, the UK will focus on regulated digital asset frameworks and potential sovereign debt issuance via blockchain, while continuing strategic cooperation with the U.S. on crypto policy.

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Ripple has committed $25m—primarily in its Ripple USD (RLUSD) stablecoin—to DonorsChoose and Teach For America to support U.S. teachers and classrooms.

The initiative marks the first large-scale deployment of RLUSD in the nonprofit sector.

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OKX CEO Star Xu announced that OKX DEX will restart today with a real-time abuse detection and blocking system, describing OKX Web3 as the “Chrome and search engine to blockchain.”

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COTI has joined the European Central Bank’s Digital Euro initiative as a “Pioneer Partner,” working alongside major firms like Accenture and KPMG to test conditional payment systems using its privacy-focused technology.

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The CFTC has withdrawn its appeal against crypto prediction platform Kalshi, effectively ending its challenge to election-related betting markets.

A federal judge had earlier ruled the agency overstepped its authority, and both Kalshi and CFTC Commissioner Summer Mersinger now affirm: “Election markets will continue to exist.”

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Tether will launch USDT on the Kaia blockchain through a partnership with LINE NEXT and Kaia, integrating the stablecoin into LINE’s Mini Dapp platform and wallet.

This will allow users to make payments, transfer funds internationally, and access DeFi services directly within the LINE ecosystem.

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KuCoin released its 30th consecutive Proof of Reserves (PoR) report.

⚫️ BTC: 10,306.78 BTC (at 106%)
⚫️ ETH: 168,779.13 ETH (at 116%)
⚫️ USDT: $1.34bn (at 114%)
USDC: $93.4m (at 109%)

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Strategy has purchased 1,895 BTC for approximately $180.3m at an average price of $95,167 per Bitcoin, achieving a BTC Yield of 14.0% YTD in 2025.

As of May 5, 2025, the company holds 555,450 BTC, acquired for about $38.08bn at an average price of $68,550 per Bitcoin.

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Senator Elizabeth Warren has called Donald Trump’s $2bn crypto deal between his company, World Liberty Financial, and the UAE “shady.”

She said the Senate should not pass a crypto bill this week to facilitate this kind of corruption.

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The Maldivian government has signed a $8.8bn joint venture with Dubai-based MBS Global Investments to build a blockchain and digital assets financial center in Malé.

The project aims to diversify the Maldives' economy beyond tourism and fisheries, with $4–5bn in preliminary funding already secured.

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Ripple will stop publishing quarterly XRP market reports, citing that its voluntary transparency was used against it by the SEC in enforcement actions.

The company said the reports “did not achieve the expected results,” and future disclosures will shift to updates via its website and social media, though a new format hasn’t been detailed.

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Netflix is reportedly developing a series on the dramatic 2022 FTX collapse, with Julia Garner in talks to play Caroline Ellison.

Evan Peters is rumored to portray Sam Bankman-Fried, though his role has yet to be confirmed.

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Ripple’s Q1 2025 report shows the company held 4.56bn XRP as of March 31, up 1.7% from the previous quarter, with escrow holdings down to 37.1bn XRP.

At $2.15 per token, Ripple’s XRP holdings are worth $98.6bn. The report also confirmed the acquisition of Hidden Road and ongoing interest in buying Circle.

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With around 16 million virtual asset investors—about 36% of South Korea’s electorate—crypto has become a key issue ahead of the June 3 presidential election. Candidates across party lines are rolling out crypto-friendly policies in a bid to win over this growing voter base.

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Starting in June, South Korea’s Financial Services Commission will allow non-profit organizations and virtual asset exchanges to legally sell virtual assets, as long as they implement internal review systems and enhance anti-money laundering measures.

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President Trump said the crypto market was “much stronger” than the stock market during the recent crash, calling it “very popular” and “very hot.”

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