According to Peter Chung, head of research at trading firm Presto, Bitcoin’s path to $210,000 is still on track. In an April 28 CNBC interview, Chung pointed to rising institutional adoption and global liquidity expansion as key drivers, despite this year’s harsh macro conditions. He called Bitcoin’s recent pullback a “healthy correction” that’s strengthened its long-term outlook.

Meanwhile, 1inch co-founder Sergej Kunz warned that retail investors are running out of time to accumulate BTC before institutional demand prices them out. “Every retail user should aim to own at least one Bitcoin — soon it may be out of reach,” Kunz said at Cointelegraph’s LONGITUDE event. He even predicted a future where countries compete for Bitcoin reserves.

Per Animoca Brands co-founder Yat Siu, Bitcoin demand has surged since Donald Trump’s April announcement of a tariff-driven trade war, reinforcing its role as a hedge against inflation and global risk.

Ready to catch up? Here’s your essential guide to this week’s market-shaping crypto moves—all the must-know updates in one sharp recap.

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TOP CRYPTO NEWS RECAP (April 27–May 03, 2025)

• Ethereum Foundation Shifts Focus to Scaling and Leadership Amid Criticism
• EU Enhances Oversight of Crypto Firms with New AML Supervision Rules
• Kraken Foils North Korean Hacker Posing as Job Applicant
• Ethereum’s Design Criticized as ETH/BTC Shows Weakness
• Stablecoins Poised for $2T Surge by 2028: US Treasury Report
• Ripple's $5B Circle Takeover Bid Rejected Amid IPO Plans

Ethereum Foundation Shifts Focus to Scaling and Leadership Amid Criticism

The Ethereum Foundation has taken a more active role in the ecosystem, responding to criticism over its lack of engagement in DeFi innovation. Recently, it appointed new executive directors, Wang and Stańczak, in an unconventional move by the board, which retains authority over their tenure. The Foundation announced its top priorities for the next year: scaling Ethereum Layer 1, enhancing Layer 2 data blobs, and improving user experience. Researchers have proposed raising the gas limit through EIPs 9678 and 9698 to boost transaction throughput significantly.

EU Enhances Oversight of Crypto Firms with New AML Supervision Rules

The European Union is strengthening its oversight of crypto service providers (CASPs) under the new regulatory framework. While the broader MiCA framework is finalized, some Level 2 implementation details are still under review. Starting July 1, 2027, the EU's AML Authority (AMLA) will directly supervise 40 CASPs, selecting firms with significant cross-border activity. Criteria include having at least 20,000 customers in a member state or €50 million in transaction volume. New measures also require customer due diligence on transactions exceeding €1,000, signaling tighter regulation across the crypto industry.

Kraken Foils North Korean Hacker Posing as Job Applicant

Crypto exchange Kraken revealed it thwarted a North Korean hacker’s attempt to infiltrate the company by applying for a tech job. Red flags included inconsistent identity details, voice switching during interviews, and use of altered documents. After a tip-off from industry partners, Kraken discovered the applicant’s email matched one linked to a known hacker group. The candidate used VPNs, fake identities, and a compromised GitHub account. Final verification traps exposed the fraud. Kraken’s security team emphasized the growing global threat of state-sponsored cyberattacks, especially from North Korea’s Lazarus Group, which has stolen billions in crypto.

Ethereum’s Design Criticized as ETH/BTC Shows Weakness

Ethereum’s ETH/BTC pair showed signs of exhaustion on May 3, with analysts predicting a possible drop to 0.016 BTC — a key support level last seen in 2019. Chartist Jimie noted that a break of the curved resistance could trigger the decline. Meanwhile, Bitcoin advocate Adam Back harshly criticized Ethereum’s design, particularly its account-based model and transition to Proof-of-Stake (PoS). He argued these features increase complexity and centralize power among large tokenholders. Back urged investors to “flush ETH” and buy Bitcoin, claiming Ethereum’s core issues cannot be solved through future upgrades.

Stablecoins Poised for $2T Surge by 2028: US Treasury Report

The U.S. Treasury forecasts dollar-pegged stablecoins’ market cap to soar from $230B today to $2T by 2028, driven by their role as “cash on-chain” payment tools and pending legislation mandating issuers to hold short-term Treasury bills. Tokenized money market funds emerge as yield-bearing alternatives. Tether $150B dominates with 66% market share, while USDC $60B trails. Growth may pressure retail banks to raise deposit rates and further entrench stablecoins’ symbiotic relationship with U.S. debt markets, per the Q1 2025 analysis.  

Ripple's $5B Circle Takeover Bid Rejected Amid IPO Plans  

Blockchain firm Ripple’s $4B–$5B acquisition offer for stablecoin issuer Circle (USDC) was declined as “too low,” per Bloomberg. The bid followed Circle’s recent U.S. IPO filing. Ripple, valued at $11B in 2024, recently acquired prime broker Hidden Road for $1.2B to bolster XRP ecosystem growth. The rejection coincides with Ripple resolving SEC litigation: a $125M penalty from a 2020 case was reduced to $50M after executives met President Trump, to whom Ripple donated $5 million. Legal clarity may reshape its M&A strategy.  

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