Binance Wallet has rapidly ascended to become the leading player in the cryptocurrency swap market, capturing 93% of the market share as of mid-May 2025—a staggering rise from just 3.4% at the start of the year. Meanwhile, a high-profile K-drama actress is embroiled in a $3M embezzlement scandal, adding a dramatic twist to the region’s financial news. In another development, a Chinese firm is set to issue real-world assets (RWAs) in Hong Kong, signaling growing institutional interest in blockchain-based financial instruments. These events highlight the dynamic and sometimes unpredictable nature of Asia’s crypto and financial sectors.
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BNB is a cryptocurrency primarily used on the Binance cryptocurrency exchange for trading, fee payment, and various other purposes within the BNB Smart Chain (BSC) ecosystem.
Arthur Hayes Predicts Bitcoin at $1M by 2028
Arthur Hayes, former BitMEX CEO, predicts Bitcoin could reach $1 million by 2028, citing macroeconomic factors like foreign capital repatriation and U.S. dollar devaluation. In a detailed blog post, Hayes argues that Federal Reserve money printing and potential capital controls under a future administration could drive investors toward Bitcoin as a safe haven. He also references Trump-era trade policies as a precedent for market instability, suggesting Bitcoin will benefit from global capital seeking alternatives to U.S. Treasuries. Hayes, known for bullish crypto takes, believes Bitcoin is the ‘only lifeboat’ for fleeing capital.
read moreFTX Creditors to Get $5B in Bankruptcy Payouts May 30
FTX creditors are set to receive more than $5 billion in distributions starting May 30, with payouts ranging from 54% to 120% of their claims, depending on creditor class. The FTX Recovery Trust confirmed the second phase of its bankruptcy plan, covering over 90% of creditors, while the remaining less than 10% will receive funds later. The distributions follow an initial phase in February that paid out $1 billion to smaller claimants. The process reflects the massive fallout from FTX’s 2022 collapse, even as the crypto industry rebounds with regulatory shifts and growing institutional adoption. Key players like BitGo and Kraken will facilitate the payouts within days of the May 30 deadline.
read moreSolana Battles Key Levels as Bulls Eye $185 Breakout
Solana (SOL) is consolidating near the $170 support level after hitting a local high of $184, with traders closely watching whether it can break past the $185 resistance. Glassnode data reveals a positive shift in SOL’s 30-day capital inflows, growing at 4–5%, suggesting renewed investor confidence. While the broader crypto rally fuels optimism, some analysts warn of a potential retracement if SOL fails to hold key levels. A decisive close above $185 could trigger a bullish breakout, while a drop below $162 may lead to a deeper correction. The next few days will be pivotal in determining Solana’s short-term trajectory.
read moreDOJ Proceeds with Charges Against Tornado Cash Developer
The DOJ has reaffirmed its commitment to prosecuting Tornado Cash developer Roman Storm on charges of money laundering and sanctions evasion, despite an internal memo hinting at a policy shift toward targeting individuals rather than platforms. Prosecutors dropped one charge related to operating an unlicensed money transmitter, acknowledging FinCEN’s 2019 guidance that non-custodial entities like Tornado Cash do not qualify. The case underscores tensions between law enforcement and DeFi developers, with industry leaders like Vitalik Buterin supporting Storm. A federal appeals court recently overturned Tornado Cash’s sanctions, but Storm’s trial proceeds, set to begin in Manhattan within two months. His co-developer, Alexey Pertsev, was previously sentenced in the Netherlands but released pending appeal.
read morePulseChain Faces Crisis Over pDAI Stability Concerns
PulseChain, an Ethereum-compatible Layer 1 blockchain promising fast speeds and low fees, is under fire due to instability in its stablecoin pDAI. Founder Richard Heart alleges exploitable flaws in MakerDAO’s governance of pDAI, triggering a liquidity crisis and community-led recovery efforts. While PulseChain’s massive airdrop and scalability initially drew DeFi users, the pDAI controversy threatens its reputation. Developers are working to stabilize the peg, but doubts linger about long-term viability. The situation echoes Solana’s early struggles—will PulseChain rebound or falter? The resolution of pDAI’s crisis could define the project’s future.
read moreGENIUS Act Faces Hurdles Amid Trump Crypto Influence
The US Senate is preparing for another vote on the GENIUS Act, though bipartisan disagreements and former President Donald Trump’s involvement in crypto pose hurdles. Coinbase’s Chief Legal Officer Paul Grewal, speaking at the Consensus conference, acknowledged ‘hiccups’ in Congress since the Senate Banking Committee advanced the stablecoin bill in March. Grewal noted Trump’s support for memecoins adds complexity to regulatory alignment but expressed confidence in lawmakers resolving disputes. The bill’s fate remains uncertain as Democrats and Republicans debate key provisions.
read moreBitcoin Faces Critical Resistance: Bull or Bear Ahead?
Bitcoin’s price has retreated slightly from the $104,000 zone, with tightening movements forming a doji candlestick—a sign of market indecision. Analyst Tony ‘The Bull’ Severino highlights a critical resistance level just below Bitcoin’s all-time high, presenting three scenarios: bullish consolidation, neutral range-bound trading, or a bearish reversal. Despite strong broader market conditions, Bitcoin’s declining trading volume and RSI failures suggest a breakout may lack momentum. Currently trading at $102,352 (-1.31%), the market remains mixed but leans slightly bullish. Traders are advised to watch for high-volume breakouts or reversals at this key level.
read moreStablecoins Challenge Legacy FX Systems, Says O’Leary
During his keynote at Consensus 2025, investor Kevin O’Leary emphasized that stablecoins present a major threat to traditional foreign exchange and payment systems by offering faster, cheaper cross-border transactions. Legacy platforms, which rely on high fees, could lose substantial revenue if regulated stablecoins become widely adopted. O’Leary predicted that this shift would make the multi-trillion-dollar FX market more efficient, transparent, and cost-effective. The growing lobbying efforts against stablecoins by incumbent players underscore the potential for crypto to reshape global finance.
read moreBinance Lists Nexpace (NXPC) Gaming Token, Price Soars
Binance announced the listing of Nexpace (NXPC), a gaming altcoin tied to the MapleStory franchise, on multiple platforms including Simple Earn, Margin, and Futures. NXPC serves as both a utility token for network fees and an interchangeable asset with MapleStory NFTs, enabling supply control. The news propelled NXPC’s price from $2.01 to a peak of $3.77 before settling at $2.53, marking a 26% 24-hour gain. Binance Alpha will debut NXPC first, further boosting its visibility. The integration underscores the rising convergence of gaming and decentralized finance (DeFi).
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