Texas Legislature Passes Bitcoin Reserve Law
Texas is joining the ranks of U.S. states that have established official Bitcoin reserves. The SB 21 bill, passed on May 20, 2025, grants the state government the authority to invest in digital assets with a market value exceeding $500 billion for a period of 12 months. Currently, only Bitcoin meets this criterion. The bill will become law upon the governor’s approval, making Texas the third state to do so after New Hampshire and Arizona.
SEC’s New Acting Inspector General Makes Combating Crypto Fraud a Priority
The SEC’s new acting inspector general, Katherine Reilly, has designated combating crypto fraud as a top regulatory priority. These crimes, which resulted in $3.96 billion in investor losses in 2023, accounted for 18% of complaints filed with the SEC. Reilly also noted that the SEC’s technical staff shortages and existing rules governing digital asset ownership are making it difficult to hire new personnel.
Most Discussed Cryptocurrencies on Social Media According to Santiment Data
Santiment statistics show that BTC, TRUMP, and AAVE tokens are the most discussed cryptocurrencies on social media. BTC’s rise above $107,000 has increased this interest.
Theta Capital Secures $175 Million Investment for Crypto Venture Fund
Theta Capital has completed a $175 million funding round for its new fund, “Theta Blockchain Ventures IV,” which will invest in crypto venture capital firms such as Coinfund and Polychain. The firm aims to offer institutional investors differentiated returns through professionally managed crypto-native venture capital.
The number of daily active users on decentralized exchanges (DEX) on Ethereum increased by 73% in May, reaching 64,000. Despite this increase, the trading volume remained at $15 billion. Uniswap remains the clear leader with 62,000 users, accounting for 97% of total users, and a trading volume of $13 billion.
KULR Technology Increases Bitcoin Holdings to 800 BTC
KULR Technology Group has reached a total of 800.3 BTC after purchasing the latest 9 million dollars worth of Bitcoin at an average cost of 103,234 dollars. The company has allocated 90% of its excess cash to Bitcoin as part of the strategy it launched in December 2024.
USDC Treasury Eliminates $60 Million in USDC
Through transactions on the Ethereum blockchain, the USDC treasury repurchased and removed approximately $60 million worth of USDC from circulation.
Plan to Purchase 75,000 BTC Through Mt. Gox Claims
Endeavor announced a partnership with 117 Castell Advisory Group to purchase 75,000 BTC from Mt. Gox that has yet to be distributed. The aim is to increase BTC reserves before a reverse merger. The transaction is subject to shareholder approval.
South Korea Lifts Corporate Crypto Ban While Tightening AML and KYC Regulations
South Korea is gradually lifting its ban on corporate crypto investments while requiring crypto exchanges and banks to implement stricter identity verification processes. This step is being taken as part of efforts to combat money laundering.
Argentina Closes Libra Investigation Department
President Milley has dissolved the Cryptocurrency Investigation Task Force, which was established three months ago to investigate price manipulation of the Libra token. There is speculation that the decision may have been politically motivated.
Vitalik Buterin: I Hope to Increase Ethereum’s Gas Limit by 10 to 100 Times
Ethereum co-founder Vitalik Buterin announced on social media that the network aims to increase its gas limit by 10 to 100 times to boost transaction capacity.
Bitcoin Spot ETFs See Net Inflows for Fifth Consecutive Day
On May 20, Bitcoin spot ETFs saw net inflows of $329 million. BlackRock’s IBIT led with $287 million, while Fidelity’s FBTC recorded $23.26 million in inflows. The total net asset value of the ETFs reached $126.8 billion, accounting for 5.97% of Bitcoin’s market capitalization.
Ethereum Spot ETFs Record Positive Inflows for Three Consecutive Days
Ethereum spot ETFs saw net inflows of $64.89 million on May 20. BlackRock’s ETHA contributed $45 million, while Fidelity’s FETH added approximately $20 million. The total net asset value of all ETFs reached $8.7 billion.
