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Crypto News
Bitcoin Bounces Back to $104K
Bitcoin continues to hover above $104,000, with traders predicting a steady rise past $105,000, a level now acting as both psychological and technical resistance.
Coinbase Could Pay Customers Up to $400M for Data Breach
On the long list of crypto companies that have been hacked, there are plenty of examples of financial losses that are much more painful than what Coinbase Global Inc. appears to be facing from the attack it disclosed on Thursday.
Yet this one stands out for significance far beyond the $400 million the company expects it will cost: This time, the victim was arguably the most influential US company in the industry.
Coinbase is the firm that led the digital-asset industry’s march into the mainstream financial system as the first publicly traded crypto exchange. It’s the company that safeguards the lion’s share of the $122 billion worth of tokens owned by spot-Bitcoin exchange-traded funds. And it’s the firm that did much of the heavy lifting when it came to the industry’s campaign spending spree to send a platoon of pro-crypto lawmakers to Washington this year.
PayPal Crypto Head Says Banks Are Needed to Unlock Full Stablecoin Potential
Banks need to be part of crypto for stablecoins to succeed—that was the message from Jose Fernandez da Ponte, PayPal’s senior vice president of digital currencies, during a panel discussion at Consensus 2025 in Toronto.
"It might sound counterintuitive, but you do want the banks in this space," Fernandez da Ponte said, adding that their infrastructure—from custody to providing fiat rails—will be essential if stablecoins are to scale beyond crypto-native circles. "You want that connectivity and that fabric to work."
Crypto Bill Poised for Resurrection After Democrats Hail Changes
Crypto-friendly Senate Democrats moved closer to reviving stablecoin legislation sought by the industry after bipartisan negotiators agreed to assorted revisions, including tightened restrictions on money laundering, foreign issuers and technology companies.
Senator Angela Alsobrooks of Maryland, the top Democratic sponsor of the bill, said negotiators had approved changes that improved consumer protections and would ensure domestic and foreign issuers both face the same rules.
KULR Stock Tumbles On Q1 Earnings, Company Plans To 'Turbocharge' Bitcoin Acquisition Strategy
KULR Technology Group Inc shares are falling over 15% in Thursday’s after-hours session after the company reported worse-than-expected results for the first quarter.
KULR Technology reported first-quarter revenue of $2.45 million, missing estimates of $2.85 million, according to Benzinga Pro. The company said total revenue increased 40% year-over-year as product sales jumped 88.7%.
KULR Technology reported a first-quarter loss of seven cents per share, missing estimates for a loss of one cent per share. The higher net loss was primarily driven by a mark-to-market of the company’s Bitcoin holdings.
Bitcoin Spot ETF Flow
The overall net inflow of the US Bitcoin spot ETF on May 15 was $114.96 million. The total net asset value of Bitcoin spot ETFs is $121.47 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.91%.
The Bitcoin spot ETF with the highest net inflow on May 15 was iShares Bitcoin Trust, with a net inflow of $409.72 million. The Bitcoin spot ETF with the highest net outflow was ARKB, with a net outflow of $132.05 million., according to SoSoValue.