Uzmancoin

After President Trump's announcement of increased tariffs on EU products, the cryptocurrency market experienced a sharp decline. Bitcoin, reaching a record high the day before, dropped significantly. Trump's tariff statements have previously influenced Bitcoin prices, followed by market recoveries. Currently, Bitcoin trades at $108,284.

Worldcoin's token WLD surged nearly 30% to $1.64 following a $135 million investment round led by Andreessen Horowitz and Bain Capital Crypto. The funds aim to expand the global identity verification network. Despite criticism, WLD has seen over 100% growth in the past month, reaching a market cap of $2.38 billion, ranking as the 47th largest cryptocurrency.

The "GENIUS Act" proposes regulating stable coins by requiring them to be fully backed by US Treasury bonds or equivalent dollar assets. If passed, it could trigger trillions of dollars in new demand for the US Treasury. The bill has advanced to the next stage in the legislative process after gaining Senate approval. Some speculate this could initiate a long-lasting bull run in the cryptocurrency market, potentially leading the stable coin sector to reach $2.5 trillion quickly.

President Donald Trump hosted an event for investors in his own meme coin, TRUMP, at his golf club with over 200 attendees from around the world. Trump criticized Biden's strict approach towards the crypto industry and expressed his support for making the US a global crypto hub. Attendees included prominent figures like Justin Sun, founder of Tron, and Erbil Karaman, co-founder of Huma Finance. The event highlighted gratitude towards the Trump administration's support for the crypto sector.

Leading US banks are in talks to launch a stable coin together. Regulatory factors and a new GENIUS Act are influencing the discussions. Potential partnership with fintech firms is considered as new regulations are awaited.

Justin Sun, founder of Tron, is invited as a guest to a special gala dinner with US President Donald Trump on May 22nd, holding the title of the biggest holder of TRUMP memecoin. Sun expressed his honor in supporting Trump and attending the event.

Standard Chartered, supporting SEC data, predicts Bitcoin could reach $500,000 by 2028. Increased institutional investment may drive BTC price up. Various state institutions and asset management funds have been increasing their positions in Bitcoin-related investments, indirectly boosting price potential.

DigiAsia, an Indonesia-based fintech company, announced plans to increase capital by up to $100 million to purchase Bitcoin and allocate 50% of its net profit to Bitcoin purchases. The company also revealed plans to create a Bitcoin reserve and explore crypto-focused yield strategies. Initial market response was positive, with a 91% increase in DigiAsia's shares, followed by a 23% correction later on.

Ripple CEO Brad Garlinghouse revealed that he canceled a meeting with US Senator Cynthia Lummis, known for her closeness to Trump. The reasons behind the cancellation remain unclear, sparking speculations. This move comes amid speculations around potential ties between Trump and Ripple, further fueled by recent developments.

Last week, $785 million was invested in cryptocurrency funds, marking the fifth consecutive positive week. Bitcoin saw a decrease in investments, possibly due to Fed's hawkish messages, while Ethereum funds received $205 million, attributed to successful updates and a change in management. Solana experienced a loss, while Sui and XRP continued positive trends with $9.3 million and $5 million investments respectively.

Famous investor Michael Burry, known for predicting the 2008 housing crisis, made significant changes to his Scion Asset Management fund's portfolio by selling off almost all assets except for a single stock. He took a large put option on Nvidia, predicting a drop, and reversed his positive stance on Chinese stocks, taking bearish positions on Alibaba and Baidu. The fund's only long position is in Estée Lauder, reflecting Burry's cautious approach to the market.

Strategy rapidly continues its cryptocurrency purchases, acquiring 7,390 BTC for $764.9 million between May 12-18. This increased their BTC holdings to 576,230. Financed by selling MSTR and STRK shares, the company aims to raise $84 billion by 2027. Potential risks include market momentum loss despite the company's strong financial position.

Morgan Stanley strategist Michael Wilson suggests that possible stock market declines following Moody's credit rating downgrade on the US could be a buying opportunity due to reduced recession risk with the US-China trade truce. Wilson also notes that uncertainties in global trade may lead to temporary market weakness.

Pi Network recently announced the introduction of a new ecosystem but has faced criticism for slow progress and unmet promises. Despite unveiling a $100 million investment fund, users express disappointment at the lack of tangible results and transparency. The project's value decreased by nearly 60%, reflecting investor concerns. The essay highlights user frustrations and doubts about Pi Network's future development and credibility.