The crypto world saw major developments this week as Texas moved closer to holding Bitcoin in its treasury, and Kraken announced plans to tokenize major tech stocks. The DOJ launched a criminal probe into the Coinbase cyberattack, while Trump hosted a memecoin gala attended by industry insiders. Meanwhile, U.S. lawmakers advanced stablecoin regulation with the Senate’s passage of the GENIUS Act.
Bitcoin
Texas has moved one step closer to becoming the third U.S. state to officially hold Bitcoin in its treasury with the Senate Bill 21 passing its second reading with a majority vote win.
The United States government is considering alternative “budget-neutral” methods of funding its new bitcoin strategic reserve, creating lots of excitement worldwide in the cryptocurrency world.
DeFi
Enhanced liquidity improves market efficiency, stability, and predictability in DeFi by enabling arbitrage, optimizing capital use, and reducing fragmentation, with platforms like THENA’s V3.3 upgrade illustrating how modular, composable systems can address volatility and inefficiencies.
Technology
Cryptocurrency exchange Kraken is preparing to roll out tokenized versions of Apple (AAPL), Tesla (TSLA), and Nvidia (NVDA) stocks, marking a major step in merging traditional financial markets with blockchain technology.
Business
A group of the largest U.S. commercial banks, like JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, is reportedly in early discussions about launching a joint stablecoin.
Web3
Crypto industry bigwigs attended President Donald Trump’s memecoin gala. However, while many attendees at the event remained unknown to the public, a few high-profile guests appeared for the cameras.
Web3 data visualization service Bubblemaps expands its offerings to BNB Chain, aiming to enhance token transparency and on-chain visibility for users.
Web3 data visualization service Bubblemaps expands its offerings to BNB Chain, aiming to enhance token transparency and on-chain visibility for users.
Security
The United States Department of Justice (DOJ) has launched a criminal investigation into a recent cyberattack against Coinbase, which exposed sensitive internal documents and limited customer data.
The perpetrator behind a significant data breach targeting Coinbase users has escalated their activities, openly mocking blockchain investigator ZachXBT while continuing to launder millions in stolen cryptocurrency.
Regulation
Jeremy Jordan-Jones faces multiple federal charges after allegedly defrauding investors with a sham blockchain firm and siphoning funds to fund personal luxuries.
The dissolution of the government task force investigating the $250 million Libra crypto scandal promoted by Argentinian President Javier Milei has deepened public distrust and harmed accountability efforts.
In a significant step for cryptocurrency regulation in the United States, the Senate voted 66-32 on Monday evening to advance the long-debated GENIUS Act — legislation aimed at regulating stablecoins, a category of digital assets pegged to fiat currencies like the US dollar.
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Source: https://cryptodaily.co.uk/2025/05/crypto-weekly-roundup-trump-hosts-memecoin-gala-doj-investigates-coinbase-cyberattack-more