Crypto Vesting

US crypto mining stocks tumbled at the close of May 28 trading after minutes published by the Federal Reserve signaled its growing uncertainty about the country’s economic outlook.

The crypto market remained unscathed, despite the stock drops among crypto miners.

Uncertainty about the economic outlook looms

The minutes of the Federal Open Market Committee’s meeting on May 6 and 7, released on May 28, stated, “the Committee might face difficult tradeoffs if inflation proves to be more persistent while the outlooks for growth and employment weaken.” 

The Fed had decided after its meetings in early May to keep interest rates steady at 4.25% to 4.50%, with the minutes revealing the reason was due to “a further increase in uncertainty about the economic outlook and a rise in the risks of both higher unemployment and higher inflation.”

Riot Platforms (RIOT) closed the May 28 trading day down 8.32%, CleanSpark (CLSK) tumbled 7.61%, and

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A New Jersey county is set to tokenize $240 billion worth of property deeds after signing a deal with the blockchain-backed land record management firm Balcony.

Balcony said on May 28 that it signed a five-year deal with the Bergen County Clerk’s Office to tokenize 370,000 deeds on the Avalanche blockchain, adding that this was “the largest blockchain-based deed tokenization project in US history.”

Bergen County is New Jersey’s most populous county and is located northwest of Manhattan in New York City across the Hudson River. Bergen County has nearly 1 million residents, producing around $500 million in annual property tax revenue.

$240B in real estate is coming on-chain.@balconytech is working with Bergen County and multiple other NJ municipalities to digitize property records, and it’s powered by Avalanche.

This is the largest blockchain deed initiative in U.S. history. pic.twitter.com/aeI0t5nffp

— Avalanche🔺 (@avax) May 28, 2025

The deal

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Chip-making giant Nvidia has posted mixed results in its first quarter earnings, beating Wall Street expectations on revenue but missing predictions on its income amid US restrictions on its exports to China. 

In earnings released May 28 for its first quarter of the 2026 fiscal year ended April 27, Nvidia reported revenues of $44.1 billion, up 12% from its previous quarter and 69% from a year ago and beating Zacks analyst estimates of $42.91 billion by nearly 2.7%.

However, the chip maker posted an earnings per share of 81 cents, missing analyst estimates of 85 cents per share. Nvidia recorded a net income of $18.8 billion, up 26% compared to a year ago.

In an earnings call, Nvidia founder and CEO Jensen Huang said that the “global demand for Nvidia’s AI infrastructure is incredibly strong” as countries start recognizing “AI as essential infrastructure — just like electricity

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A US federal court has frozen around $57.65 million worth of the stablecoin USDC in a class action case over the controversial Libra memecoin.

Onchain data shared with Cointelegraph by the class group’s lawyer, Max Burwick, shows nearly $57 million worth of USDC (USDC) was frozen on May 28 after a Manhattan court agreed to a temporary freeze.

“Yesterday, a federal court in SDNY [Southern District of New York] entered a Temporary Restraining Order at our request, Burwick Law, supported by Tim Treanor, freezing approximately 57.65 million USDC held at Circle,“ Burwick told Cointelegraph.

He added that the court is scheduled to hold a hearing on June 9 to determine whether the assets will remain frozen as the class-action lawsuit progresses.

Burwick is representing Omar Hurlock and other plaintiffs in a class-action suit against crypto venture firm Kelsier Ventures and its three sibling co-founders,

Read More at https://cointelegraph.com/news/us-court-freezes-57-million-libra-memecoin-case?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Key takeaways:

Historical chart patterns and the Fibonacci Retracement metric hint at a Solana price rally to $300.

Solana’s $7.5 billion in futures open interest and negative funding rates could be a sign that a powerful short squeeze is in the making.

Solana (SOL) price tested the $180 resistance level on May 11, but it has since consolidated below this key threshold and appears unable to establish a sustained bullish position. However, the altcoin has maintained a positive signal by closing above the 50-week exponential moving average (EMA) for three consecutive weeks. This critical level has historically acted as a catalyst for significant price rallies.

Solana 1-week chart. Source: Cointelegraph/TradingView

In late 2023, SOL broke through the 50-week and 100-week EMAs, solidifying its position above these levels before surging 515% by March 2024. The relative strength index or RSI on the weekly chart is currently at 52.60, indicating growing buying pressure. 

This setup mirrors past patterns

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The US Labor Department has officially rescinded guidance issued during the Biden administration that limited the inclusion of cryptocurrency in 401(k) retirement plans.

On May 28, the Labor Department revoked a 2022 guidance that had urged fiduciaries to be “extremely cautious” when considering cryptocurrency for 401(k) retirement plans. The move could give asset managers more flexibility to include digital assets in retirement investment options.

The government agency removed the guidance asserting that it represented a departure from the department’s “historically neutral, principled-based approach to fiduciary investment decisions.”

“We’re rolling back this overreach and making it clear that investment decisions should be made by fiduciaries, not D.C. bureaucrats,” said US Secretary of Labor Lori Chavez-DeRemer.

The Labor Department under Biden criticized the practice of marketing cryptocurrencies to 401(k) participants. At the time, the agency claimed cryptocurrencies posed “significant risks and challenges” to participants’ retirement accounts due to their “speculative

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Key takeaways:

Bitcoin researcher Sminston With says BTC could gain 100% to 200%, with a cycle peak between $220,000 to $330,000.

Bitcoin continues to exhibit strong cyclical volatility, contradicting the belief that its price swings are softening over time.

Over $4 billion in BTC has been moved by long-term holders, warning of a price correction.

Analysis from Bitcoin (BTC) researcher Sminston With implied that a BTC price peak is still 100% to 200% away from current prices. In a recent X post, With shared a Bitcoin price chart using a 365-day simple moving average (SMA) aligned with a power law model (R²=0.96).

The model suggests Bitcoin’s price follows a predictable, non-random pattern over time, distinct from the exponential growth models often applied to stocks and equities.

Bitcoin power law fit analysis by Sminston With. Source: X

The chart revealed that Bitcoin’s 365-day SMA typically peaks 2 to 3 times above the power law trendline in each

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Bilal Bin Saqib, head of Pakistan’s crypto council, announced on May 28 that the country is moving to establish a strategic Bitcoin reserve.

Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Saqib said the government of Pakistan followed the United States’ lead in establishing a Bitcoin strategic reserve and is embracing pro-crypto regulatory policies. The government official told the audience:

“Today is a very historic day. Today, I announce the Pakistani government is setting up its own government-led Bitcoin Strategic Reserve, and we want to thank the United States of America again because we were inspired by them.”

The announcement represents a significant departure from the government of Pakistan’s previous stance on cryptocurrencies, holding that crypto would never be legal in the country.

Pakistan’s shift reflects the broader trend of nation-states adopting pro-crypto policies following the regulatory shift in Washington, DC under the President Donald

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Shares of video game and collectibles retailer GameStop dropped nearly 11% on May 28 after the company announced its first Bitcoin purchase, triggering a classic sell-the-news reaction.

The stock closed at $31.21 on the New York Stock Exchange, according to Google Finance.

The company announced the purchase of 4,710 Bitcoin (BTC) valued at roughly $513 million on May 28. GameStop confirmed plans to create a BTC treasury strategy on March 26, following months of investor speculation and rumors that it would begin accumulating the cryptocurrency.

Trump Media and Technology Group (TMTG), the parent company of President Donald Trump’s Truth Social platform, also saw its shares plunge after announcing a $2.5 billion capital raise to purchase Bitcoin. Since the May 27 announcement, TMTG stock has dropped over 24%.

GameStop’s stock has experienced a pullback following the company’s first Bitcoin purchase. Source: TradingView

GameStop’s move to adopt Bitcoin as

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