Bitcoin is stirring up bold price targets again, holding firm above six figures with barely any consolidation as of May 10. Top cryptocurrency analysts point to November 2024 as a pivotal breakout moment, with calls for $137K—$160K before the end of 2025 if momentum holds.
Supporting the bullish case, Bitcoin treasury company Strategy (MicroStrategy) is buying faster than miners can produce, creating a rare deflationary pressure, with over 555,000 BTC locked away. Meanwhile, Trump-backed stablecoin USD1 has rapidly climbed to the seventh-largest by market cap, shaking up the stablecoin leaderboard.
Ready to catch up? Here’s your essential guide to this week’s market-shaping crypto news stories—all the must-know updates in one sharp recap.
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TOP CRYPTO NEWS RECAP (May 03-May 10, 2025)
- Bitcoin Eyes $110K Surge Amid Institutional Buying Frenzy
- $45M Stolen from Coinbase Users in One Week Amid Rising Scam Wave
- US Stablecoin Bill Stalls as Democrats Withdraw Support Over Trump Ties
- SEC Eyes Looser Rules for Tokenized Securities Under New Leadership
- South Korea’s Presidential Favorite Vows to Approve Bitcoin ETFs
- SEC’s Crenshaw Slams Ripple Settlement, Warns of Weakening Enforcement
Bitcoin Eyes $110K Surge Amid Institutional Buying Frenzy
According to Bitcoin Suisse, Bitcoin may soon soar past $110,000, driven by strong institutional demand, a high Sharpe ratio of 1.72, and its performance in both risk-on and risk-off markets. The cryptocurrency recently broke the $100K mark for the first time since January, signaling bullish momentum. A key shift occurred on May 7, when market data showed buyer dominance returning, fueled by over $4.5 billion in ETF inflows since April. Experts say this demand-supply imbalance could spark a significant price rally this May.
$45M Stolen from Coinbase Users in One Week Amid Rising Scam Wave
Crypto investigator ZachXBT reports that $45 million was stolen from Coinbase users last week through social engineering scams, bringing estimated annual losses to $330 million. These scams, involving fake support staff and phishing tactics, seem to affect Coinbase disproportionately compared to other exchanges. The FBI has issued multiple warnings about the surge in crypto-related fraud, often linked to fake job offers and phishing emails. Coinbase’s security head urges a unified system to track and combat the growing sophistication of these attacks.
US Stablecoin Bill Stalls as Democrats Withdraw Support Over Trump Ties
The GENIUS Act, aimed at regulating stablecoins in the U.S., failed to pass a key Senate vote on May 8 after Democrats withdrew support, citing concerns over President Trump’s crypto involvement. Despite bipartisan efforts and amendments to address anti-money laundering, the bill couldn’t clear the cloture hurdle. Critics expressed frustration over the setback, calling it a missed opportunity for U.S. leadership in digital assets. Supporters vowed to continue pushing for regulatory clarity, emphasizing the need for America to lead in the future of crypto.
SEC Eyes Looser Rules for Tokenized Securities Under New Leadership
According to Commissioner Hester Peirce, the U.S. SEC is considering easing rules for companies issuing tokenized securities, potentially exempting them from strict registration requirements. This could allow blockchain firms and decentralized exchanges like Uniswap to operate without registering as broker-dealers or exchanges. The move reflects a sharp policy shift under new SEC Chair Paul Atkins, appointed by President Trump, signaling a softer stance on crypto. While fraud and disclosure rules would still apply, the changes aim to modernize oversight for blockchain-based financial innovations.
South Korea’s Presidential Favorite Vows to Approve Bitcoin ETFs
South Korea's leading presidential candidate, Lee Myung, has pledged to legalize spot Bitcoin ETFs and introduce crypto-friendly reforms if elected. In a May 6 announcement, Lee vowed to support youth investment by creating a safer, more accessible crypto environment, promising lower transaction fees and stronger consumer protections. His Democratic Party leads in polls ahead of the June 3 election. Rival party candidate Kim Moon-soo has made similar pledges, signaling bipartisan interest in crypto reform. Lee’s crypto stance marks his first on the topic during this campaign.
SEC’s Crenshaw Slams Ripple Settlement, Warns of Weakening Enforcement
SEC Commissioner Caroline Crenshaw strongly criticized a proposed settlement with Ripple, warning it could undermine investor protection and erode the credibility of SEC enforcement. The deal would dissolve a court injunction and return $75 million of Ripple’s $125 million penalty. Crenshaw argued the move reflects a broader rollback of crypto enforcement under the Trump administration and leaves a “regulatory vacuum.” While the SEC and Ripple have agreed on terms, Judge Torres must still approve the settlement before the case can officially conclude.
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