HAEDAL surged by as much as 50% today ahead of its listing on South Korea’s Bithumb exchange. According to CoinGecko data, the liquid staking protocol Haedal (HAEDAL) rallied to an intraday high of $0.174 during Asia morning hours on May…

OKX Ventures-backed Haedal Protocol rallies 50% ahead of Bithumb listing

Sen. Cynthia Lummis (R-WY) declared this week she is “particularly pleased” 
with President Donald Trump’s endorsement of her proposed strategic bitcoin 
reserve, a plan she claims will tackle the national debt and solidify U.S. 
dominance in financial innovation. ‘America Must Lead’ on Bitcoin, Says Lummis 
After Trump Backs Reserve Plan The Boosting Innovation, Technology, and […]

Trump Endorses Senator’s Push for US to Amass Bitcoin Reserves

U.S. stocks rallied Friday as better-than-expected job growth and fresh 
signals from China about trade negotiations helped investors shake off recent 
concerns around tariffs. The S&amp;P 500 extended its winning streak to nine days, 
which is the longest in 20…

S&P 500 climbs toward historic streak as jobs data, China talks boost sentiment

This content is provided by a sponsor. PRESS RELEASE. May 2, 2025 &#8211; BTCC, one 
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enthusiasts, traders, and industry professionals. Following the announcement 
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BTCC Exchange Scores Big on Day One of TOKEN2049 Dubai With Interactive Basketball Experience and Viral Mascot Nakamon

Ben McKenzie, an actor known for his roles on television shows including 
_Gotham_ and _The OC_ , will make his directorial debut in a scathing 
documentary about cryptocurrency.
According to an April 29 Deadline report, McKenzie wrote, directed, and 
produced the documentary _Everyone Is Lying To You For Money_ , set to 
premiere at SXSW London in June. The film features footage from 2022 of former 
FTX CEO Sam &#8220;SBF&#8221; Bankman-Fried and former Celsius CEO Alex Mashinsky before 
their respective companies folded.
&#8220;Why is the false story of crypto still spreading?&#8221; said McKenzie, according 
to Deadline. &#8220;That&#8217;s the question I set out to answer with this film.&#8221;
_Sam Bankman-Fried (left) with Ben McKenzie (right). Source:__Instagram_
Working with The New Republic staff writer Jacob Silverman, McKenzie pivoted 
from a role in Hollywood to speaking out against many of the issues 
surrounding cryptocurrency in 2021. After the collapse of FTX in November 
2022, the actor testified at a US Senate hearing investigating the downfall of 
the crypto exchange.
In addition to interviews with SBF and Mashinsky, the documentary will 
reportedly explore El Salvador President Nayib Bukele&#8217;s connections to crypto. 
Bukele rose to prominence in the industry after proposing that El Salvador 
recognize Bitcoin (BTC) as legal tender in 2021.
_**Related:**__**Peter Todd forced into hiding after HBO doc claims he 
invented Bitcoin**_
It&#8217;s unclear what, if anything, could be revealed in the Bankman-Fried and 
Mashinsky interviews. Cointelegraph reached out to McKenzie for comment but 
did not receive a response at the time of publication.
## Bankman-Fried in prison, Mashinsky could soon follow
The former FTX CEO has been the subject of other documentaries, interviews, 
and a Michael Lewis book. Bankman-Fried was found guilty on seven felony 
charges related to his role in the collapse of FTX and sentenced to 25 years 
in prison in 2024.
Mashinsky, who pleaded guilty to two felony charges as part of a deal with US 
prosecutors in December 2024, is scheduled to be sentenced on May 8. 
Authorities requested that a judge impose a 20-year sentence on the former CEO 
of Celsius.
_**Magazine:**__**The $2,500 doco about FTX collapse on Amazon Prime … with 
help from mom**_

Crypto skeptic to release SBF, Mashinsky interviews in documentary

**Key Takeaways:**
 * Analyst predicts a low VIX (
Bitcoin network economist Timothy Peterson raised Bitcoin&#8217;s (BTC) chances of 
hitting a new high in 100 days, and he maintains an optimistic outlook in 
2025.
In an analysis shared on X that ties BTC&#8217;s price action to the CBOE Volatility 
Index (VIX) &#8211;an indicator that measures 30-day market volatility expectations 
&#8212; the analyst pointed out that the VIX index has dropped from 55 to 25 over 
the past 50 trading days. A VIX score below 18 implied a &#8220;risk-on&#8221; 
environment, favoring assets like Bitcoin.
Peterson&#8217;s model, which had a 95% tracking accuracy, predicted a $135,000 
target within the next 100 days if the VIX remains low. This aligns with 
Bitcoin&#8217;s sensitivity to market sentiment, as a low VIX reduces uncertainty, 
encouraging investment in riskier assets.
Speaking on Bitcoin&#8217;s volatility, Fidelity&#8217;s director of global macro, Jurrien 
Timmer, compared Bitcoin&#8217;s nature to &#8220;Dr.Jekyll and Mr.Hyde.&#8221; Timmer believed 
Bitcoin&#8217;s ability to act as both a store of value (Dr. Jekyll) and a 
speculative asset (Mr. Hyde) differentiates it from gold, which remains a 
consistent &#8220;hard money&#8221; asset. Timmer emphasized the dynamics between Bitcoin 
and the global money supply and said,
&gt; &#8220;Note that when M2 has grown and the stock market is rallying, Bitcoin has 
&gt; been off to the races because it has both attributes working for it. But 
&gt; when M2 has grown and equities are correcting, not so much.&#8221;
_Bitcoin price against global money supply. Source: X.com_
This underscores Bitcoin&#8217;s sensitivity to macroeconomic conditions, making its 
performance less predictable than gold&#8217;s.
_**Related: Crypto &#8216;decoupling&#8217; story ends as stocks follow Bitcoin&#8217;s rally**_
## Stablecoin market cap hits record $220 billion
Data from CryptoQuant highlighted that the stablecoin market capitalization 
hit a record $220 billion, signaling a liquidity surge in the crypto market. 
This marks Bitcoin&#8217;s exit from a bearish phase as capital flows return, and 
with stablecoins representing crypto liquidity, new BTC highs could be a 
likely outcome in the coming weeks.
While BTC continues its uptrend, lower-time frame (LTF) charts reveal a shift 
in market dynamics. The funding rate for BTC futures has turned negative 
again, indicating a rise in short positions as traders bet against the rally.
_Bitcoin 4-hour chart and funding rate. Source: Velo.chart_
The 4-hour chart&#8217;s funding rate has reached its most negative level in 2025, 
indicating that short-side liquidity significantly exceeds long-side 
liquidity. This creates a condition for a potential short squeeze.
This imbalance could propel BTC toward the $100,000 level. Cointelegraph 
pointed out that over $3 billion is at risk for a short-side liquidation, 
which may amplify upward momentum, catching bearish traders off guard.
_Bitcoin short liquidations data. Source: X.com_
 _**Related: Bitcoin hodler unrealized profits near 350% as $100K risks sell- 
off**_
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.