Hodler’s Digest, May 25 – 31 – Cointelegraph Magazine

The best stories of the week

GAMESTOP officially confirms the purchase of the first Bitcoin of 4,710 BTC

GAMESTOP, the US video game and consumer electronics, confirmed his first Bitcoin investment, acquiring 4,710 Bitcoin, according to a press release published on May 28 on the company X account.

The company did not specify how much it has paid for Bitcoin or when purchases were made in the ad, while its 8-K form fileing with the American Commission for Securities and the Exchange also offers few details. The amount purchased was about $ 513 million at the time of the drafting.

The announced acquisition is the first purchase of Bitcoin recognized by GameStop, since the company has disclosed plans to go to Bitcoin’s investment in March.

Hyperliquid whale losses nearly $ 100 million after Bitcoin is below $ 105,000

A hyperliquid trader known as James Wynn saw his bets on the Bitcoin platform on almost $ 100 million after Bitcoin below $ 105,000.

Wynn had made two significant long-term positions on Bitcoin, betting that the price of cryptocurrency would increase, but onchain’s data show that these positions were liquidated up to $ 99.3 million on May 30, while the BTC fell to a 10-day hollow.

The first position of 527.29 BTC, worth $ 55.3 million, was liquidated because Bitcoin reached $ 104,950, and the second position of 421.8 BTC, worth $ 43.9 million, was closed after Bitcoin at $ 10,4150, according to the hyperliquid analytics platform.

On May 29, another Wynn position of 94 BTC worth $ 10 million was liquidated at $ 106,330.

New York cops linked to the case of cryptographic torture have put modified tasks: report

The New York Police Service would have placed two officers on modified tasks after the couple was accused of being linked to a local town house where a crypto merchant was kidnapped and tortured before escaping.

The NYPD detective, Roberto Cordero, who sits the security details of the mayor of New York, Eric Adams, would have picked up the alleged victim, Michael Valentino Teofrasto Carturan, of the airport and led him to the town hall, reported on May 29 of the New York Times, citing two officials of the city with a knowledge of the question.

The Times reported that the detective of Cordero and Nypd Raymond J. Low, who is investigating the cases of drugs in Manhattan, also ensured security at the town hall of Soho where Carturan said he had escaped.

Elon Musk leaves Doge because Job was a “mounted battle”

Elon Musk confirmed that he was leaving the TSAR post to reducing the cost of the White House after admitting that it was a “difficult battle” trying to reduce jobs and federal programs.

Musk status as an employed government leading the Ministry of Government Effectiveness (DOGE) meant that by law, it could only be used for a maximum of 130 days, which was to end on May 30.

Musk confirmed his release in a position on May 29, thanking President Donald Trump “for the opportunity to reduce waste spending.” Reuters reported that an official of the White House said that his “speedboat would begin this evening”.

Musk told Washington Post for a May 27 report that “the situation of the federal bureaucracy was much worse” that he expected, and it is “a battle that is difficult to try to improve DC, to say the least”.

JD Vance urges the Bitcoin community to adopt politics

The United States Vice-President JD Vance took the scene to give an opening speech at the Bitcoin 2025 conference in Las Vegas, Nevada, encouraging bitcoiners to deepen their involvement in politics.

Vance stressed the strategic and geopolitical importance of Bitcoin, stressing that the United States should maintain leadership in the cryptographic industry to remain competitive in the era of digital finance. Vance told the public:

“What is happening in the world of politics, what is happening in the world of bureaucracy, will even affect the most transformational and precious technologies if we do not make the right decisions. The first thing I would ask you is to take the momentum of your political involvement in 2024 and to advance it until 2026 and beyond. ”

Winners and losers

At the end of the week, Bitcoin (BTC)) is $ 104,105, Ether (Ethn)) at $ 2,525 and Xrp at $ 2.13. Total market capitalization is 3.25 billions of dollars, according to CoinmarketCap.

Among the 100 largest cryptocurrencies, the three main Altcoin winners of the week are cronos (CRO) at 9.61%, hyperliquid (THRESHING) at 4.68% and Aave (Aave) at 0.39%.

The three main Altcoin losers of the week are Ethena (ENA) At 17.26%, Dogwifhat (Wif) at 15.45% and SPX6900 (SPX) at 14.42%. For more information on cryptography prices, be sure to read Cointelegraph market analysis.

Most memorable quotes

“The current and conventional way of publishing proofs of reservations is infrequent proof of reservations.”

Michael Saylorco-founder and executive president of the strategy

“The Nordics return to the initiative of society without species because their centralized implementation of the concept is too fragile.”

Vitalik ButerinCo-founder of Ethereum

“The trend line is increasing and on the right, exponential, and therefore there is an extremely bad chances of negotiation attached to the sale because you really hope that it falls.”

Adam backCEO of Blockstream

“This week’s purchases of spots will strongly influence the next 1-2 months of action on prices. We are in a pivot area. “

Willy WooCrypto Analyst

“Most cryptographic assets as we see them today are probably not themselves titles.

Hester PeirceCommissioner to the American Commission for Securities and Exchange

“We have financial instruments for all other obligations. You can have exempt tax obligations and other obligations. It is time for the first time in the history of this city to have a financial instrument designed for those who are Bitcoin holders. ”

Eric AdamsMayor of New York

Prediction of the week

Bitcoin can reach $ 200,000 in 2025 after a “obvious” price break signal

Bitcoin is prepared for its “next major step” while a long-term indicator triggers for the first time since mid-201.

The analysis downloaded on X by exchanging the Stockmoney Lizards account on May 28 described a “obvious” BTC price break signal.

Bitcoin is ready to repeat its race for a high cycle, as in 2016 and 2020, Stockmoney Lizards reported.

The Optimized Trend Tracker (OTT) tool, which provides information on price trends using mobile averages and average data from the real beach, is started for the next Bitcoin top.

“The model is so obvious that it hurts,” said the X Post, calling OTT “the cleanest trend indicator you can use for macro movements”.

Top Fud of the week

Thailand to block Bybit, OKX and other Crypto exchanges on June 28

The Thai Securities and Exchange (Sec) Commission will block five cryptocurrency exchanges, notably bybit and Okx, from the country.

According to an announcement of May 29, Bebit, 1000x, Coinex, OKX and XT.com will be blocked in the country on June 28. The SEC said that the measure aims to “protect investors and repress illegal platforms used for money laundering”.

“The SEC advises all investors who use these platforms to take the necessary measures concerning their assets before the date of arrest,” said the agency.

Us Philippine Tech Firm sanctions accused of helping Crypto scams

The US Treasury sanctioned a technology company based in the Philippines and its alleged administrator, accusing it of providing services to thousands of cryptographic scam.

Funnull Technology is linked to most crypto swindle websites reported to the FBI, the losses of the victims exceeding $ 200 million, said May 29 of the Treasury Bureau of Foreign Active (OFAC).

Funnull buys bulk IP addresses from cloud service providers and sells them to crooks, allowing them to host and exploit clones of legitimate investment platforms, deceive victims and steal their crypto, according to the OFAC.

Average ETF ETF Investor ETF “substantially underwater” – Glassnode

Most investors in funds negotiated on spot ether, asset managers, Blackrock and Fidelity Investments are faced with significant losses, according to the Crypto Glassnode analysis company.

“The average investor in the ETFs of Blackrock and Fidelity Ethereum is now substantially underwater on their position, holding an unrealized loss of approximately -21% on average,” said Glassnode in its May 29 report.

Ether is currently negotiating at $ 2,601, according to CoinmarketCap Data. However, the BlackRock ETF SPOT has a cost base of $ 3,300, while Fidelity is higher at $ 3,500.

Top Magazine Histories of the week

Coinbase Hack shows that the law will probably not protect you: here is why

Who is responsible for a violation of data from an crypto exchange? The example of Coinbase is high that larger protections are available outside the United States.

Think Tank supported by the State in China considers Bitcoin Reserve, Sony Bank Goes Web3: Asia Express

A Chinese reflection group supported by the State considers bitcoin against the US dollar as reserve assets. Sony Bank establishes a cryptographic emanation, and even more.

Move to Portugal to become a digital crypto nomad – everyone is

Despite recent major criticisms on “stifling bureaucracy”, Portugal is one of the most friendly countries for digital nomads.