Crypto Weekly Digest | 2025 Bitcoin Conference Coming on Tuesday; US-HK Stablecoin Regulations Boost RWA Integration
Bitcoin broke through a new high of $110,000 last Thursday, and the crypto market strengthened as Bitcoin hit new highs, with Ethereum briefly returning to the $2,700 mark last Friday. As of writing, $Bitcoin (BTC.CC)$ fluctuated narrowly around $110,000, while $Ethereum (ETH.CC)$ oscillated near $2,600.
Last Week's Hot Topics:
1. Bitcoin's Global Market Cap Ranking Rises to Fifth
Bitcoin reached a new high of over $110,000 per coin early last Thursday morning, ranking fifth in global asset market capitalization at $2.19 trillion, behind only gold, Microsoft, NVIDIA, and Apple.
2. 2025 Bitcoin Conference Coming on Tuesday
This year's Bitcoin Conference will be held in Las Vegas from May 27-29, with attendees including U.S. Vice President Vance, White House AI and Cryptocurrency Czar David Sacks, Donald Trump Jr., Eric Trump, and $Strategy (MSTR.US)$ founder Michael Saylor.
The most anticipated event will be on May 28, when Las Vegas will witness the most impactful speech in cryptocurrency history - U.S. Vice President JD Vance will deliver a speech on "Innovation, Financial Sovereignty, and the Future of Bitcoin," becoming the first sitting U.S. Vice President to publicly support Bitcoin. Notably, Vance has been known for his pro-cryptocurrency stance, mainly due to his active social media statements and voting record supporting cryptocurrencies.
3. U.S. Senate Passes Procedural Motion for "GENIUS Act" with 66 Votes in Favor
According to reports from CoinDesk and Fox reporter Eleanor Terrett, the U.S. Senate passed a procedural motion for the "GENIUS Act" with 66 votes in favor and 32 against, clearing the way for final legislation. The bill aims to establish a federal regulatory framework for stablecoins and issuers. An earlier version was stalled on May 8 due to disputes over consumer protection and national security clauses, but after text revisions, several Democratic senators switched to support. Senator Bill Hagerty, who is leading the bill, called it a "historic opportunity" to push for the first digital asset legislation.
The Hong Kong Legislative Council also passed the "Stablecoin Ordinance Bill" last Wednesday, which the Hong Kong SAR government welcomed. The Bill establishes a licensing system for fiat-backed stablecoin issuers in Hong Kong, improving the regulatory framework for virtual asset activities in Hong Kong to maintain financial stability while promoting financial innovation.
4. Hong Kong and U.S. Stablecoin Regulations: Impact on Web3 and RWA Integration
Recent stablecoin legislation in Hong Kong and the U.S. marks a significant shift in global financial infrastructure, with important implications for real-world asset (RWA) integration into Web3. The U.S. GENIUS Act requires 100% high-liquidity dollar reserves, while Hong Kong's framework allows more flexibility in reserve composition and interest-bearing models.
Both regulatory approaches emphasize fiat pegging, transparency, and licensed issuance, but differ in scope. The U.S. limits stablecoins to non-interest-bearing payment instruments, whereas Hong Kong permits yield-generating models, opening opportunities for RWA-linked products.
These regulations are expected to transform stablecoins into foundational monetary assets for Web3, enabling institutional DeFi adoption, cross-border RWA settlements, and micro-payment networks. As RWA-backed stablecoins gain traction, they could potentially reshape global clearing systems and accelerate Web3's transition to mainstream financial infrastructure.
5. Apple, Tesla, and NVIDIA Stocks to be Traded as Tokens on Kraken
According to the Wall Street Journal, cryptocurrency exchange platform Kraken plans to allow non-U.S. clients to trade popular stocks like $Apple (AAPL.US)$, $Tesla (TSLA.US)$, and $NVIDIA (NVDA.US)$ as tokens through digital ledgers. The company says these "tokenized stocks" will make it easier for non-U.S. persons to invest in U.S. stocks. Like Bitcoin, they will trade 24/7, even when U.S. stock markets are closed. Kraken says it will start rolling out tokenized stocks in the coming weeks, which will be listed in Europe, Latin America, Africa, and Asia. Kraken's U.S. clients will not be able to trade them.
Opinion Pieces:
1. Strong Bullish Sentiment for Bitcoin, Short-term Correction Possible
Greeks.live released a community briefing stating that the overall market maintains a bullish stance, expecting Bitcoin to continue upward with key support at $110,000, short-term target at $120,000, and long-term target at $150,000-$200,000. Analysts predict a possible correction to the $100,000-$103,000 range before reaching new highs.
It's worth noting that negative funding rates indicate there are still a large number of short positions, which could potentially trigger a short squeeze and further drive up prices. Meanwhile, Ethereum has shown relative weakness, failing to follow Bitcoin in reaching new highs, with a target price of $3,000. Reports suggest that Ethereum whales have become more cautious about selling call options after experiencing market volatility.
2. Standard Chartered: Bitcoin Expected to Rise Further After Reaching All-Time High
According to CNBC, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered Bank, stated that Bitcoin may continue to climb after reaching its all-time high. The rising term premium on U.S. Treasuries is driving Bitcoin's increase, with Bitcoin price trends often aligning with this. Funds flowing into U.S. spot Bitcoin exchange-traded funds (ETFs) are increasing, and institutional and governmental interest in Bitcoin is growing. A new U.S. stablecoin regulatory bill has also provided support to the market. Standard Chartered Bank predicts that Bitcoin will reach $120,000 by the end of the second quarter, $200,000 by the end of 2025, and $500,000 by 2028.
3. JPMorgan: Bitcoin's Upside Potential in Second Half May Exceed Gold, Driven by Corporate and U.S. State Support
JPMorgan analysts suggest that Bitcoin may continue to outperform gold in the second half of 2025 as gold weakens and fund flows change. The institution points out that companies like MicroStrategy continue to purchase Bitcoin, and multiple U.S. states are incorporating it into their strategic reserves, such as New Hampshire, which allows up to 5% asset allocation to Bitcoin. Additionally, the maturation of the crypto derivatives market and regulatory clarity are attracting institutional participation.
Crypto Concept Tracking:
1. MicroStrategy Acquires 7,390 Bitcoins at an Average Price of $103,498
MicroStrategy purchased 7,390 Bitcoins between May 12 and May 18, at an average price of $103,498 (total: $764.9 million). As of the beginning of 2025, the company has achieved a 16.3% Bitcoin yield. As of May 18, 2025, MicroStrategy holds 576,230 Bitcoins, with an average purchase price of approximately $69,726 per coin, totaling about $40.18 billion spent.
2. GameStop Strengthens Without Specific News After Bitcoin Breaks $110,000
$GameStop (GME.US)$ stock rose 10% last Thursday, despite no company-specific news that day. This rise may be due to renewed retail enthusiasm and the momentum in the crypto market driven by Bitcoin pushing past its historical high of over $111,000. GameStop's strategic shift towards digital assets earlier this year could also be a key point. In February, GME stock rose after CEO Ryan Cohen posted a photo with $Strategy (MSTR.US)$ Chairman Michael Saylor, sparking speculation about GameStop's potential deeper involvement with Bitcoin.
ETF Net Flows:
U.S. Bitcoin ETF
U.S. Ethereum ETF
Learn more: How to invest in Crypto ETPs
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Gold has rebounded to $3,300! It's time to get on board?
🎙️ Discussion: 1. Has it $Gold Futures (AUG5) (GCmain.US)$ rebounded to $3,300? Will the short-term trend continue to rise? 2. What factors
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May 6 20:45
S&P 500's Put/Call Ratio Hits 5-Year Low: Fear Fades and Bottom Near?
cold_shell_coin : just one sun flair EMP and all that disappears instantly
181533967 : I simply believe that MSTR and BASE will rise after the market reopens.
钱来啦 : In my personal opinion, once there is a relationship with the government, corruption will ensue; the government's goal is to take their money. Therefore, personal analysis may fall from grace, and I estimate there will be another alternative.
Kryptkeeper : BTC will decline initially after all the positive hype and then rip upwards 10-20% by EOY. NFA, just my humble opinion.
blessmemore : k
102692757 : HK stablecoin is backed by assets, whereas US stablecoin is backed by air, nothing!
US trying to pay their debts using stablecoin which is just as good as nothing whenever they do not honour it! basically like their US dlrs is backed by nothing as compared to back then.
Us dlr is in demand right now is just bcos their stock mkt commands 40%, trade us usd. Going fwd, it will definitely change as history will repeat.