Author: James Wilson

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. In January 2025, DeepSeek’s R1 surpassed ChatGPT as the most downloaded free app on the US Apple App Store. Unlike proprietary models like ChatGPT, DeepSeek is open-source, meaning anyone can access the code, study it, share it, and use it for their own models. This shift has fueled excitement about transparency in AI, pushing the industry toward greater openness. Just weeks ago, in February 2025, Anthropic released Claude 3.7 Sonnet, a hybrid reasoning model that’s partially open…

India’s Supreme Court has raised concerns over unregulated Bitcoin trading, comparing it to a refined form of Hawala during a recent bail hearing in a crypto-related case. According to local media, the observation came as the court questioned the absence of a clear regulatory framework for virtual currencies in the country. The bench, comprising Justices Surya Kant and N Kotiswar Singh, said the lack of formal rules around crypto assets had created uncertainty, leading to potential misuse. The remarks were made while hearing the bail plea of Shailesh Babulal Bhatt, who has been in custody since August 2023 for allegedly…

Coinbase CEO Brian Armstrong says congress needs to quickly advance its stablecoin and market structure bills amidst the FIT21 momentum, hoping to have both passed before August. In a recent post, the Coinbase CEO called for immediate action from congress in advancing its stablecoin and market structure draft legislations. He believes that the momentum built through the discussion surrounding FIT21’s momentum in the House will propel the bill further. FIT21 or Financial Innovation and Technology for the 21st Century Act is a bill in the United States that aims to clarify the regulatory framework for digital assets, particularly cryptocurrencies. It…

VRA rallied as high as 45% today, breaking out of a bullish pattern following new partnerships while outpacing a broader market downturn. Verasity (VRA) surged to an intraday high of $0.0032 on May 6 during afternoon Asian trading, pushing its total gains to over 250% since hitting its monthly low. VRA’s strong performance made it the top gainer among the top 1,000 cryptocurrencies on CoinGecko. This comes even as the broader crypto market slipped 2.2% over the past day, with Bitcoin (BTC) staying relatively flat while Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) dropped 1–4% amid market caution…

Riot Platforms sold 475 BTC in April, marking the largest single-month BTC liquidation in the company’s history. Riot Platforms, the second largest publicly traded Bitcoin mining firm by market cap, announced Monday that it had sold 475 BTC in April at an average price of $81,731, generating $38.8 million in net proceeds. The sale, disclosed in Riot’s monthly production and operations update, marks the largest single-month Bitcoin (BTC) liquidation in the company’s history. Of the 475 BTC sold in April, 463 were newly mined in April, with the remaining 12 drawn from Riot’s reserves. “During the month of April, we…

TreasureDAO will shut down its ZKsync-based Treasure Chain on May 30, nearly five months after announcing urgent cost-cutting measures and securing temporary emergency powers. TreasureDAO is pulling the plug on Treasure Chain, its own network built on ZKsync’s layer-2 scaling solution, by May 30 after TIP-52 passed, giving the core team emergency powers to handle the shutdown without stopping for more votes. Treasure Chain Wind-Down⛓️🌇Following the successful ratification of TIP-52, the Treasure Chain will shut down on May 30, 2025. Holders must bridge out all ETH, MAGIC, SMOL, and NFT holdings by the end of May.Additional updates, timelines, and next…

Uniswap has added support for Soneium, a new layer-2 blockchain built by Sony Block Solutions and Startale Labs.  Uniswap Labs announced the update in a blog post on May 6. The network is now operational on the Uniswap (UNI) wallet and web app, enabling users to bridge, trade, and supply liquidity using well-known tools.  With a focus on digital entertainment, Soneium’s mainnet debuted in January 2025. The network seeks to facilitate onchain connections between creators and fans while safeguarding intellectual property. So far, it has hosted NFTs for the popular anime Solo Leveling, distributed digital collectibles at concerts, and supported…

Florida has become the latest state to drop plans for a Strategic Bitcoin Reserve, shelving two key bills that would have allowed public funds to be invested in Bitcoin. According to the Florida Senate, both of Florida’s Bitcoin reserve bills, House Bill 487 and Senate Bill 550, were “indefinitely postponed and withdrawn from consideration” on May 3. The state’s legislative session ended on May 2 without a vote on either bill, effectively killing the proposal despite early momentum. HB 487, titled “Investments of Public Funds in Bitcoin,” was introduced in February and passed its first committee hearing unanimously on April…

Worldcoin has dropped sharply as new legal challenges emerge in Kenya and Indonesia.  Following a strong rally in April, the token has lost some of its recent gains, falling 7% in the last day and more than 22% this week. Trading activity in Worldcoin (WLD) has increased 64% despite of the price drop, indicating that traders are responding swiftly to any changes. This comes at a time when Worldcoin is increasingly dealing with global regulatory issues.  In one of the latest developments, the Worldcoin Foundation was ordered by a Kenyan High Court on May 5 to remove all biometric information…

XRP remains range-bound, trading between $2.03 and $2.30 for much of the past month. Despite initial momentum, price action has leveled off after failing to break out of this corridor in March. XRP (XRP) is currently trading at about $2.14, down 1.2% over the last day and more than 8% over the previous week. On-chain activity shows a similar picture to the stalling of price movement. According to Santiment data, the number of daily active addresses on the XRP Ledger has significantly dropped, averaging roughly 40,000, the lowest since November 2024. This is a huge drop from March, when daily…