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Indonesia’s DigiAsia shares pop 90% on plan to raise $100M to buy Bitcoin

Shares in the Indonesian fintech firm DigiAsia Corp nearly doubled after the company said it plans to raise $100 million to seed its first of many Bitcoin buys.

The Jakarta-based Nasdaq-listed company said on May 19 that its board of directors approved creating a Bitcoin (BTC) “treasury reserve” and it was “committing up to 50% of any net profits generated to fund the acquisition of BTC.”

DigiAsia said it was also “actively exploring a capital raise of up to US$100 million” to kickstart its Bitcoin holdings and would look to earn yield on its holdings through means like lending and staking.

DigiAsia said it had “initiated discussions with regulated partners” on yield strategies and managing its planned Bitcoin holdings. The company added that it was also assessing whether to offer convertible notes or crypto finance instruments linked to its planned

SEC’s Crenshaw says agency playing ‘regulatory Jenga’ with crypto

The US Securities and Exchange Commission’s sole Democratic Commissioner has said the agency is “playing a game of regulatory Jenga” with its approach to the crypto industry and market regulation under the Trump administration.

In May 19 remarks at the SEC Speaks event, Commissioner Caroline Crenshaw cautioned against what she described as a dangerous dismantling of “discrete but interrelated rules” on crypto and the wider market.

She likened market stability to a “Jenga tower” that the agency’s rules had “carefully developed over the years,” which could topple if some rules were removed.

In addition to a lamentable loss of staff, Crenshaw said the SEC has used staff guidance to effectively reverse rules without proper analysis or public comment, particularly around crypto

“Our statements on these crypto-related issues are the equivalent of a wink and nod intended to convey that we do not plan to rigorously apply our laws in

Read More at https://cointelegraph.com/news/sec-crenshaw-agency-playing-regulatory-jenga-with-crypto?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Binance wants arbitration for all members of securities class suit

Crypto exchange Binance has asked a US federal judge to send all members of a class-action lawsuit alleging it sold securities to arbitration, arguing that the group waived their ability to form a class action under the company’s terms.

The exchange said in a May 16 filing to a New York federal court that its terms of service, which it claimed the class group agreed to, has a clause that users agree to arbitrate all claims, along with a clause preventing users from launching class actions against the crypto exchange.

“The Court should hold that Plaintiffs are required to arbitrate claims that accrued after Feb. 20, 2019, even if the Court adheres to its initial decision as to claims that accrued before then and that the class-action waiver in the 2019 Terms of Use is enforceable for all of Plaintiffs’ claims,” Binance said.

Binance argues that its terms of service

JPMorgan boss says bank users can soon buy Bitcoin

Jamie Dimon, the CEO of JPMorgan, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency.

“We are going to allow you to buy it,” Dimon said at JPMorgan’s annual investor day on May 19. “We’re not going to custody it. We’re going to put it in statements for clients.”

CNBC reported that Dimon also remarked on his long-held skepticism about crypto assets, pointing to their use in money laundering, sex trafficking and terrorism.

“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,” he said.

Michael Saylor comments on Dimon’s announcement. Source: Michael Saylor

JPMorgan will offer clients access to Bitcoin (BTC) exchange-traded funds (ETFs), CNBC reported, citing sources familiar with the situation. Until now, the firm has limited its crypto exposure primarily to futures-based products, not direct

US Senate moves forward with GENIUS stablecoin bill

The US Senate has voted to advance a key stablecoin-regulating bill after Democrat Senators blocked an attempt to move the bill forward earlier in May over concerns about President Donald Trump’s sprawling crypto empire.

A key procedural vote on the Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, passed in a 66-32 vote on May 20.

Several Democrats changed their votes to pass the motion to invoke cloture, which will now set the bill up for debate on the Senate floor.

Republican Senator Cynthia Lummis, one of the bill’s key backers, said on May 15 that she thinks it’s a “fair target” to have the GENIUS Act passed by May 26 — Memorial Day in the US.

The US Senate voted 66-32 to advance debate on the GENIUS stablecoin bill. Source: US Senate

The GENIUS Act was introduced on Feb. 4 by US Senator Bill

Solana Labs offshoot Anza pitches ‘biggest change’ ever to network consensus

Anza, a Solana blockchain infrastructure firm spun out of Solana Labs, has proposed a new proof-of-stake consensus called Alpenglow that it claims would be “the biggest change to Solana’s core protocol” and compete with current internet infrastructure.

“We believe that the release of Alpenglow will be a turning point for Solana. Alpenglow is not only a new consensus protocol, but the biggest change to Solana’s core protocol since, well, ever,” Anza’s Quentin Kniep, Kobi Sliwinski and Roger Wattenhofer said on May 19.

Alpenglow consists of Votor, which processes voting transactions and block finalization logic, and Rotor, a data dissemination protocol that would replace Solana’s proof-of-history timestamping system and aim to reduce the time it takes for all nodes to agree on the network state.

Source: Anza

Anza researchers claimed that “Alpenglow will shatter both these latency bounds” and the project expects it

Bitcoin trading in six-figure territory shows BTC is ready to carry gold’s ‘baton’ — Fidelity exec

Key takeaways:

Bitcoin’s Sharpe ratio converges with gold’s, indicating similar risk-adjusted returns, supporting its store-of-value role.

Gold outperformed Bitcoin in Q1 2025 with a 30.33% price gain versus Bitcoin’s 3.84%, driven by economic uncertainty.

Bitcoin ETF inflows are recovering, and analysts predict BTC could reach $110,000–$444,000 in 2025.

Bitcoin’s (BTC) price is holding above $100,000, leading Fidelity Director of Global Macro, Jurrien Timmer to say the crypto asset could reclaim its position as a leading store-of-value contender.

Timmer’s recent analysis highlights a convergence in the Sharpe ratios of Bitcoin and gold, suggesting that the two assets are increasingly comparable in risk-adjusted returns. The Sharpe ratio measures the rate of return an investment provides for the risk taken, by comparing its performance to a risk-free benchmark relative to its volatility.

The chart below, tracking weekly data between 2018 and May 2025, shows Bitcoin’s returns (1x) catching up to gold’s (4x), with gold

Bitcoin fractal analysis forecasts new all-time highs above $110K by end of week

Key takeaways:

Bitcoin onchain and technical data suggest new all-time highs are imminent.

Glassnode data shows most Bitcoin wallet cohorts accumulating BTC.

A daily timeframe bearish divergence signals fading momentum, raising doubt on BTC’s ability to rally into the $120,000 to $130,000 range.

Bitcoin (BTC) price rallied back above $105,000 during the US market trading session, after forming a double bottom pattern in the 1-hour chart.

Bitcoin 1-hour chart. Source: Cointelegraph/TradingView

Available liquidity around the $102,500 zone was swept, possibly laying the foundation for new Bitcoin price highs this week.

Bitcoin fractals hint at new all-time highs

Bitcoin’s current range between $106,300 and $100,600 represents a similar setup to its previous range between $97,900 and $92,700. The price action pattern can be summarized into three different conditions:

Range lows and range highs led to immediate trend reversal.

A double bottom occurred after range highs ($97,900 and $107,144) were formed.

The double bottom formation occurred above

DOJ is investigating Coinbase data breach— Report

The US Department of Justice is reportedly conducting a probe over Coinbase’s contracted customer service agents in India, who accepted bribes in exchange for allowing criminals access to user data.

According to a May 19 Bloomberg report, DOJ investigators are looking into the data breach, which Coinbase disclosed to the public on May 15. The exchange reported that a group of customer support contractors — subsequently fired — “abused their access to […] systems to steal the account data for a small subset of customers.”

“We have notified and are working with the DOJ and other US and international law enforcement agencies and welcome law enforcement’s pursuit of criminal charges against these bad actors,” said Coinbase’s chief legal officer, Paul Grewal, according to Bloomberg.

Though “no passwords, private keys, or funds were exposed” according to

What to expect at Trump’s memecoin dinner

On May 22, US President Donald Trump is expected to host up to 220 people who had purchased the most significant quantities of his memecoin at a private event in Washington, DC.

Though the exact number of attendees was unknown as of May 19, reports and blockchain data have revealed some of the tokenholders who qualified to apply for the May 22 dinner and “VIP tour” and reception, presumed to be in the White House. Bloomberg reported on May 7 that more than half of the 220 wallets were likely controlled by foreign nationals.

Among the memecoin dinner applicants, who likely still face background checks ahead of getting a confirmed appearance before the president, included Synthetix founder Kain Warwick, a consultant named Vincent Deriu, and crypto user Morten Christensen, who reportedly only paid $1,200 for the opportunity.

Others included a World Liberty Financial