Crypto Weekly Roundup: ETH Price Surge, Pakistan & Texas BTC Plans, Czech Scandal
Crypto Weekly Roundup: ETH Price Surge, Pakistan & Texas BTC Plans, Czech Scandal
馃 Minister's $45M BTC Mystery
ETH reached $2,780, marking yearly high, though ETH/BTC ratio fell to 0.018 (lowest since 2020)
Pakistan announced plans to establish Bitcoin reserves and allocate 2,000 MW for mining operations, drawing scrutiny from the IMF
Texas Senate passed bill for state Bitcoin reserves, pending governor approval
Czech Justice Minister stepped down amid $45M Bitcoin donation controversy linked to criminal activities
Previous week highlights:
- GENIUS Act (stablecoin regulation) progressed in U.S. Senate
- Coinbase achieved S&P 500 listing milestone
- Trump's $148M TRUMP memecoin dinner sparked debate
Top Crypto News This Week (May 26, 2025) 馃數 $ETH reached $2,700 before settling at $2,500, with optimism for a 2025 comeback after a tech upgrade. 馃數 The U.S. Senate moved forward with the GENIUS Act, a stablecoin regulation bill, boosting market optimism. 馃數 President Trump
Bitcoin 2025 Conference Draws Record Crowd, Features Political Heavyweights
The Bitcoin 2025 Conference in Las Vegas marked a significant milestone with **30,000+ attendees**. Key highlights: - Vice President JD Vance presented the GENIUS Act, focusing on stablecoin regulation - UK politician Nigel Farage unveiled ambitious crypto policies including: - Bitcoin reserve implementation - Reduced taxation on crypto gains The conference signals growing mainstream political acceptance of cryptocurrency, building on VP Vance's earlier endorsements of Bitcoin policy initiatives.
Base Chain Surpasses Ethereum in Weekly Transactions and Active Addresses
**Base Chain**, Coinbase's Layer 2 network, demonstrates significant growth metrics: - Weekly transactions reached **65.9M** (27% increase), surpassing Ethereum's 9.4M - Active addresses grew to **9.7M** (42% increase), exceeding Ethereum (2.14M) and other major L2s - Current TVL stands at **$4.7B** This growth follows the broader L2 ecosystem expansion, with total L2 TVL reaching $51.5B in late 2024, marking a 205% year-over-year increase. *Base Chain's performance indicates growing adoption of Layer 2 solutions for Ethereum scaling.*
USD+ Launches New Stablecoin Cash Management Solution
Overnight Finance introduces USD+, a new stablecoin solution offering enhanced cash management features: - **For Fiat Investors**: Combines high yield potential with low risk and strong liquidity - **For Crypto Users**: Streamlines stablecoin management processes - **For AMM Providers**: Generate yield through SushiSwap/Uniswap liquidity positions The platform launches additional tokens including xUSD and USDT+. All tokens are: - Fully collateralized - USD-pegged - Feature automatic reward accrual through rebasing Learn more at [Overnight Finance Documentation](http://docs.overnight.fi)
GENIUS Act: New US Senate Bill Sets Stage for Global Stablecoin Adoption
The US Senate is advancing the GENIUS Act, a landmark stablecoin regulation bill with key requirements: - 1:1 reserve backing with cash/Treasury securities - Monthly reserve disclosures and annual audits for issuers managing >$50B - Federal/state regulatory oversight framework - Enhanced consumer protection measures The bill aligns with global regulatory trends, including EU's MiCA and UK's stablecoin framework. Chainlink's Proof of Reserve could play a crucial role in ensuring transparency and preventing infinite mint attacks through its Secure Mint feature. *This development could accelerate stablecoin adoption for instant, low-cost global transfers.*