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Bitcoin Drops Below $103,000 with a 0.63% Decrease in 24 Hours

Bitcoin has dropped below $103,000 and is now trading at $102,788, with a narrowed 0.63% decrease in 24 hours.

Binance, Kraken Are Said to Have Been Targets of Hacks

Binance and Kraken are among major crypto exchanges that have been targeted by the same type of social-engineering hack that was recently disclosed by Coinbase Global, Inc., according to people familiar with the situation.

Both digital-asset platforms were able to fend off the attacks without losing customer data, according to the people, who asked not to be identified discussing the assaults. Representatives of Binance and Kraken declined to comment on cybersecurity matters.

While crypto companies and market participants have been constant targets of cyber criminals since the earliest days of the industry more than a decade ago, upticks in the attacks tend to coincide with a jump in the value of digital currencies as they’ve done so recently. Countless exchanges, including Bybit, Bitfinex and FTX, lost billions to hackers over the years.

Trump’s Crypto Project Pushes Back on Senate Inquiry

Attorneys for Donald Trump’s World Liberty Financial crypto project pushed back against claims about potential conflicts of interest raised by the Democratic head of a Senate investigative subcommittee.

“The company has exercised rigorous diligence to ensure compliance with applicable legal and regulatory obligations at every stage,” World Liberty lawyers wrote in a letter dated May 15. The crypto project also denied there is any affiliation with Fight, Fight, Fight, LLC, the firm that launched the Trump memecoin, and its chief executive officer, Bill Zanker.

Earlier this month, Senator Richard Blumenthal of Connecticut, the top Democrat on the Permanent Subcommittee on Investigations, sent letters to World Liberty as well as Fight, Fight, Fight seeking information. Blumenthal’s letter, addressed to World Liberty’s co-founder Zach Witkoff, accuses the project of reaping “substantial financial benefits for its founders and the Trump family.” The letter came after Fight Fight Fight promoted a private dinner with President Trump and a VIP White House tour for the top 220 holders of the Trump memecoin that will be held May 22.

Michael Saylor Releases Bitcoin Tracker Information Again, Possibly Indicating Increased BTC Holdings

Strategy founder Michael Saylor has once again released information related to the Bitcoin Tracker, mentioning, 'Never shortchange those who buy orange ink by the barrel.' According to previous patterns, Strategy always discloses information about increasing its Bitcoin holdings the day after related news is released.

The Texas Strategic Bitcoin Reserve Bill SB 21 Will Undergo Its Second Reading on May 20

According to ChainCatcher, Dennis Porter, co-founder of the Satoshi Action Fund, stated that the Texas Strategic Bitcoin Reserve Bill SB 21 will undergo its second reading on May 20, which is a critical procedure before the final vote. If it is not passed by the House before the recess on June 2, the bill will become invalid and must be reintroduced at the next session. Previously, the bill had been approved by the House committee.

Michael Saylor Predicts the Digital Gold Rush Will End in 2035

Strategy founder Michael Saylor tweeted that the digital gold rush will end around January 7, 2035. He advised to grab Bitcoin while you can before it no longer belongs to you.

“Rich Dad Poor Dad” Author Expects Bitcoin to Rise to $250,000 This Year

Robert Kiyosaki, the author of 'Rich Dad Poor Dad,' tweeted that the value of Bitcoin, gold, and silver will continue to rise. He is buying more Bitcoin and expects Bitcoin to reach $250,000 this year. He advises investors to buy more and not to sell.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF last Friday was $260.27 million. The total net asset value of Bitcoin spot ETFs is $122.67 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.95%.

The Bitcoin spot ETF with the highest net inflow on May 16 was iShares Bitcoin Trust, with a net inflow of $129.73 million. Following that was Fidelity Wise Origin Bitcoin Fund, with a net inflow of 67.95 million, according to SoSoValue.

SoSoValue