May saw bullish momentum in crypto markets as Bitcoin (BTC) reached a new all-time high above $111,000 and Coinbase joined the S&P 500.
The markets breathed a huge sigh when Donald Trump, the US president, reached a deal on trade with China on May 12. This agreement put a 90 day hold on the tariffs, which had sent them into a tailspin. BTC’s price soared to $105,000 in a matter of hours, its highest level for three months, before tumbling down to just $102,000.
Five US states have enacted Bitcoin legislation. Texas created the state Bitcoin Reserve, which was long overdue. Alabama has postponed indefinitely an attempt to exempt cryptocurrency from taxation.
OpenAI wants to enter the US market and establish Orb stations that scan eyes in six American states. This move comes after World was sued in 12 different countries.
The numbers for May:
Texas’s Bitcoin reserve law is one of five states to pass laws related to crypto in May
In the US, cryptocurrency legislation is moving ahead on multiple fronts, with five states passing or enacting cryptocurrency-related bills.
Texas has a state of its own passed a bill that establishes a state Bitcoin (BTC) reserve. New Hampshire also made similar moves. enabling With the passing of HB302, the State Treasurer can invest public funds containing digital assets such as Bitcoin and precious metals.
The newly created Bitcoin and Digital Assets Reserve Fund in Arizona will hold unclaimed digital assets. Arizona may now be able to take ownership of digital assets abandoned by their owners if they fail to reply to repeated attempts at contact for more than three years. The state may also bet the digital assets into the fund in order to gain airdrops and other rewards.
Nebraska public utilities have now some power over Bitcoin miners. LB526, approved in the final reading of May 14th, gives them authority to force Bitcoin miners to pay infrastructure upgrade costs if they use more than 1 Megawatt. This bill introduces an energy consumption reporting system, as well as a power permit program.
Oregon’s Uniform Commercial Code includes cryptography.
Coinbase stock up 19.37% in May, joins S&P 500
Crypto exchange Coinbase’s stock is up 19,37% this month despite the market downturn. disclosing a $400 million security incident 15 May
Even though the cost of the assault, which is reported to have been in the thousands triggered an investigation According to the US Department of Justice the stock closed at $248.84 on May 29, 2009.
Crypto companies are also a growing industry became the first to be included in the benchmark S&P 500 Index, which the crypto industry hailed as a new high for crypto adoption and industry growth.
Some people are not happy. Some have expressed concerns over the security of their exchange and about the volatility in the stock market. “All I can tell you is this is not good,” said Ed Elson, a commentator on business and economy.
Related: Coinbase in S&P 500: More crypto firms to come?
Major indexes bounce back after 90-day US-China tariff deal
On May 12, the Trump administration announced that it had reached a deal with China to suspend tariffs for 90 days, with the S&P 500 and the Nasdaq seeing nominal gains of 4.5% and 3%, respectively, a day after the news. Bitcoin rose by 2%.
Bitcoin is a good investment according to Cointelegraph’s market research. failed to smash expectations in the days As macroeconomic conditions favoured stocks, they favored them over gold or Bitcoin, which both fell by 3.4% in May.
Before trading opened on May 30, the Nasdaq-100 index was up 9.16% for the month, while the S&P 500 climbed 6.16%.
Bitcoin “Pizza Day” BTC ATH: Amazon’s $2.2 trillion market capitalization is surpassed by BTC ATH.
The 22nd of May is a day to celebrate. “Bitcoin Pizza Day,” Bitcoin market capitalization crossed $2.2 trillion, overtaking Amazon’s market capitalization is estimated to be worth $US 450 billion.
Bitcoin’s price also rose during Pizza Day. The day marks Bitcoin OG Laszlo Hanyecz’s 2010 purchase of 10,000 BTC (worth $41 then) by Laszlo Hanyecz. hit a new all-time high Just over $100,000. Bitcoin has broken the world record. a few days Later, you can reach $111 970.
Bitcoin ETFs and spot Bitcoins cooled off by the end of this month as the demand for Bitcoins slowed. snapping a 10-day inflow streak On May 29, the net inflows were $347 Million.
OpenAI expands its world project in the US following enforcement actions against 12 countries
OpenAI CEO Sam Altman, announced on April 30 that World, his company’s project for digital identification, will be set up in the United States.
Twelve different regulators in twelve countries took some sort of legal action. Their stated reasons varied from privacy concerns (Kenya), to possible economic manipulation via its token. Hong Kong is the only place where this project has been banned.
Related: Alarm bells ring in US over OpenAI’s crypto project World
World responded to privacy concerns with the statement that no personal information is attached to each unique eye scan on Orb. The company also says that they do not own or control this information. Instead, it is the users who own and control their World ID.
Magazine: Adam Back says Bitcoin price cycle ’10x bigger’ but will still decisively break above $100K
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Source: cointelegraph.com
