Crypto News | May.29.2025
Here's a summary of the top cryptocurrency news for today, Thursday, 29 May 2025:
📉 Market Overview
Bitcoin (BTC) is currently trading at $106,760, down approximately 0.8% over the past 24 hours. Ethereum (ETH) is at $2,643, experiencing a slight decline of 0.2%. Despite the dip, long-term holders are accumulating BTC at a historic pace, with over 1.39 million BTC added since March, indicating strong confidence in the asset's long-term value. (thecryptobasic.com)
🏛️ Policy & Regulation
U.S. Establishes Strategic Bitcoin Reserve: President Donald Trump signed an executive order creating the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile, utilizing approximately $21 billion in seized digital assets. This move positions the U.S. as a pioneer in recognizing cryptocurrency as a strategic asset. (The Washington Post)
Pakistan Announces National Bitcoin Reserve: At the Bitcoin 2025 Conference in Las Vegas, Pakistan's Minister of Crypto and Blockchain, Bilal bin Saqib, announced plans to establish a national Bitcoin reserve and allocate 2,000 megawatts of electricity for Bitcoin mining and AI data centers. The initiative is inspired by U.S. policies. (The Times of India)
Bybit Granted MiCA License in Austria: Crypto exchange Bybit has been granted a license under the EU's Markets in Crypto-Assets (MiCA) regulation in Austria, allowing it to operate across the European Union. (CoinDesk)
🗳️ Political Developments
Trump Administration Rescinds Crypto Caution in 401(k) Plans: The Trump administration has overturned a Biden-era directive that advised caution when including cryptocurrencies in 401(k) retirement plans. This policy shift allows plan fiduciaries to decide independently about crypto investments without regulatory discouragement. (MarketWatch)
Vice President JD Vance Champions Crypto: At the Bitcoin 2025 Conference, Vice President JD Vance praised President Trump as a champion of cryptocurrency, highlighting the administration's support for integrating crypto into the mainstream economy. (lasvegassun.com)
🧑⚖️ Legal & Enforcement
U.S. Sanctions Philippine Company for Crypto Scam: The U.S. Treasury Department has sanctioned a Philippines-based computer infrastructure company and its administrator for orchestrating a mass crypto scam. (upi.com)
Crypto Investor Denied Bail in Kidnapping Case: A cryptocurrency investor charged with kidnapping and torturing a man in a New York City townhouse has been denied bail by a judge. (US News)
💼 Corporate Moves
GameStop Invests $500 Million in Bitcoin: GameStop announced the purchase of approximately $500 million worth of Bitcoin. However, the company's shares have plunged for the second consecutive day, as investors express concern over the move. (Fortune)
Cango Inc. Shifts Focus to Bitcoin Mining: Shanghai-based Cango Inc. has completed the sale of its PRC business and is strengthening its board to drive a global focus on Bitcoin mining. (prnewswire.com)
🔍 Market Sentiment
Despite recent price consolidations, industry experts suggest that it's still early to invest in Bitcoin, with potential for significant long-term gains compared to traditional investments. (thecryptobasic.com)