Key Points
- Research suggests Bitcoin may drop to $69,000 in the next bear market, following a potential peak in Q4 2025, though current prices are around $107,844.
- It seems likely that Changpeng Zhao (CZ) denied being a “fixer” for World Liberty Financial, refuting a Wall Street Journal article, amid ongoing debates about crypto and politics.
- The evidence leans toward Hong Kong passing a stablecoin bill, with licensing expected by year-end, enhancing its digital asset hub status.
Bitcoin Price and Predictions
As of May 25, 2025, Bitcoin is trading at approximately $107,844, slightly down from $108,299 at the end of last week. Analysts predict a potential drop to $69,000 in the next bear market, expected after a peak in Q4 2025, reflecting market volatility and speculation.
CZ and World Liberty Financial
Changpeng Zhao, former Binance CEO, has publicly denied claims by the Wall Street Journal that he acted as a “fixer” for World Liberty Financial, a crypto project linked to former President Donald Trump. CZ described the report as a “hit piece” with inaccuracies, highlighting tensions between media and crypto figures.
Hong Kong Stablecoin Developments
Hong Kong’s Legislative Council passed a stablecoin bill, establishing a licensing regime for fiat-referenced stablecoin issuers. This move, expected to allow applications by year-end, aims to position Hong Kong as a global leader in digital assets and Web3, fostering innovation and investor protection.
Survey Note: Detailed Analysis of Cryptocurrency and Blockchain Developments (May 18–24, 2025)
This survey note provides a comprehensive overview of the key events in the cryptocurrency and blockchain space from May 18 to May 24, 2025, as outlined in the Hodler’s Digest, with updates and verifications as of 01:00 AM WAT on Sunday, May 25, 2025. The analysis covers market trends, regulatory developments, technological innovations, and notable controversies, ensuring a thorough examination for stakeholders and enthusiasts.
Market Trends and Predictions
The cryptocurrency market showed significant activity, with Bitcoin reaching $108,299 by the end of the week, according to the digest. As of May 25, 2025, the current price is $107,844, indicating a slight decline. This aligns with predictions of a potential bear market, with analysts suggesting Bitcoin could drop to $69,000 following a peak in Q4 2025. The digest highlights skepticism about Bitcoin’s momentum, with long-term analysis indicating consolidation and a possible return to 2021 highs. Other cryptocurrencies, such as Ether at $2,529.86 (down from $2,543) and XRP at $2.33 (up from $2.32), also reflect minor shifts, with a total market cap of $3.41 trillion reported last week.
The digest lists top gainers among the top 100 cryptocurrencies, including SPX6900 (SPX) at 25.81%, Hyperliquid (HYPE) at 25.14%, and Worldcoin (WLD) at 24.79%, alongside losers like Walrus (WAL) at -16.00%, Pyth Network (PYTH) at -14.22%, and EOS (EOS) at -11.99%. These figures underscore the market’s volatility and the diverse performance across altcoins.
CZ and World Liberty Financial Controversy
A significant story involves Changpeng Zhao (CZ), former CEO of Binance, who refuted claims in a Wall Street Journal article published around May 23, 2025. The article allegedly portrayed CZ as acting as a “fixer” for World Liberty Financial (WLF), a decentralized finance project backed by a Trump-affiliated entity, with involvement from Trump’s sons, Eric and Donald Jr. CZ, in an X post on May 23, 2025, described the report as a “hit piece” filled with inaccuracies and negative assumptions, accusing WSJ of resorting to “Cunningham’s Law” with negative intentions. This denial was corroborated by multiple sources, including CZ Denies ‘Fixer’ Role in World Liberty Financial Deals, which noted his accusations of an anti-crypto agenda. The controversy highlights ongoing tensions between media scrutiny and crypto industry figures, especially amid political ties.
Hong Kong’s Regulatory Advancement
Hong Kong made strides in digital asset regulation by passing the Stablecoins Bill, as reported on May 21, 2025, by the Legislative Council. Legislative Council member Johnny Ng Kit-Chong confirmed the bill’s passage in its third reading, paving the way for a regulated framework. The bill, detailed in Hong Kong passes stablecoin bill, one step closer to issuance | Reuters, establishes a licensing regime for fiat-referenced stablecoin issuers, with applications expected by year-end through the Hong Kong Monetary Authority (HKMA). This move aims to enhance Hong Kong’s competitiveness as a global digital asset hub, with requirements for reserve asset management and risk management to protect investors, as noted in Hong Kong passes stablecoin bill as more governments recognize the digital asset.
OpenAI’s Technological Leap
OpenAI’s announcement of planning to ship 100 million pocket-sized AI companion devices marks a significant technological development. Reported on May 21 and 22, 2025, in OpenAI plans to ship 100 million pocket-sized AI devices for everyday use, CEO Sam Altman and former Apple designer Jony Ive are collaborating on these devices, following a $6.5 billion acquisition of Ive’s startup, io. The devices, described as a “new design movement” similar to Apple’s integrations, aim to integrate AI into daily life, with a target launch by late 2026. Details remain scarce, but the ambition to ship 100 million units faster than any previous tech product underscores OpenAI’s aggressive expansion, as reported in OpenAI Targets 100 Million AI Device Shipments in Record Time After $6.5 Billion Deal – Slashdot.
Legislative and Financial Developments
US Representative Maxine Waters, ranking member of the House Financial Services Committee, announced on May 22, 2025, plans to introduce the Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025. This legislation aims to block Trump-related memecoins and stablecoins, citing examples like Trump’s family launching USD1 through WLF and proposing a national Bitcoin reserve. This reflects growing regulatory scrutiny, as detailed in the digest.
JPMorgan Chase CEO Jamie Dimon, during the bank’s annual investor day on May 19, 2025, stated that clients can soon buy Bitcoin, though the bank will not custody it. This move, reported in JPMorgan boss says bank users can soon buy Bitcoin, aligns with Dimon’s skepticism about crypto, citing its use in illicit activities, yet defending clients’ rights to invest.
FUD and Security Incidents
The digest highlights several fear, uncertainty, and doubt (FUD) incidents, including a US tourist losing $123,000 in Bitcoin after being drugged by a fake Uber driver in London, as reported in US tourist drugged by fake Uber driver and robbed of $123K BTC Report. Another incident involved a suspected hack of Sui DEX Cetus, potentially losing over $200 million, with at least $63 million bridged to Ethereum, as noted in Sui DEX Cetus hit by suspected hack: Over $200M in potential losses. Additionally, the founder of Amalgam Capital Ventures was charged with defrauding investors of over $1 million via a sham blockchain, as reported in Feds charge Amalgam founder with stealing $1M via sham blockchain.
Memorable Quotations and Market Sentiment
The digest includes notable quotations, such as SEC Chair Paul Atkins stating, “The crypto markets have been languishing in SEC limbo for years,” reflecting regulatory challenges. Haliey Welch, known as the “Hawk Tuah girl,” shared a personal anecdote about FBI visits related to crypto, while Ethereum co-founder Vitalik Buterin warned about market structures dominated by a few RPC providers. Other quotes, like David Sacks’ optimism about regulatory passage and Mauricio di Bartolomeo’s investment reflections, provide insight into market sentiment.
Top Magazine Stories
Additional coverage includes traditional finance building Ethereum Layer 2s for tokenizing real-world assets, AI curing blindness while raising ethical concerns, and a viral expose on crypto scams in Asia, as detailed in TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story, AI cures blindness, good propaganda bots, OpenAI doomsday bunker: AI Eye, and Crypto scam hub expose stunt goes viral, Kakao detects 70K scam apps: Asia Express.
Conclusion
This survey note confirms the accuracy of the Hodler’s Digest, with updates reflecting current cryptocurrency prices and verifying key stories. The developments underscore the interplay of market dynamics, regulatory frameworks, and technological innovation, shaping the future of digital assets and AI integration.
Key Citations
- CZ Denies ‘Fixer’ Role in World Liberty Financial Deals
- Hong Kong passes stablecoin bill, one step closer to issuance | Reuters
- Hong Kong passes stablecoin bill as more governments recognize the digital asset
- OpenAI plans to ship 100 million pocket-sized AI devices for everyday use
- OpenAI Targets 100 Million AI Device Shipments in Record Time After $6.5 Billion Deal – Slashdot
- TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story
- AI cures blindness, good propaganda bots, OpenAI doomsday bunker: AI Eye
- Crypto scam hub expose stunt goes viral, Kakao detects 70K scam apps: Asia Express
- US tourist drugged by fake Uber driver and robbed of $123K BTC Report
- Sui DEX Cetus hit by suspected hack: Over $200M in potential losses
- Feds charge Amalgam founder with stealing $1M via sham blockchain
- JPMorgan boss says bank users can soon buy Bitcoin
- CZ X post denying WSJ claims
