Taiwanese legislator Ko Ju-Chun has urged the government to consider including Bitcoin in its national reserves, alongside gold and foreign currencies. Speaking at a national finance conference on May 9, Ko suggested allocating a small portion of the country&#8217;s reserve…

Taiwan lawmaker urges adding Bitcoin to national reserves

Wall Street giant BlackRock met with the Securities and Exchange Commission 
(SEC) Crypto Task Force to discuss staking within crypto exchange-traded 
products (ETPs) and tokenization of securities. The discussion could advance 
institutional interest in the crypto industry.
According to a May 9 memo published by the task force, BlackRock sought to 
&#8220;[d]iscuss perspectives on treatment of staking, including considerations for 
facilitating ETPs with staking capabilities.&#8221; The company has previously said 
that Ether (ETH) exchange-traded funds, while successful, are less perfect 
without staking.
Other crypto ETF issuers share that view. On Feb. 15, the New York Stock 
Exchange proposed a rule change to introduce staking services for Grayscale&#8217;s 
spot Ether ETFs. In April, the SEC delayed a decision on whether to approve or 
disapprove the rule change. BlackRock and Grayscale are behind the largest 
Ether ETFs by market capitalization, according to Sosovalue.
_Ethereum ETFs as of May 8. Source:__Sosovalue_
Many blockchains rely on proof-of-stake consensus mechanisms that allow users 
to lock their native coins for yield. A potential SEC approval of staking for 
Ether ETFs could lead to future requests among altcoins, including Solana 
(SOL) ETFs.
## Tokenization on the agenda
BlackRock also discussed &#8220;tokenization of securities under federal securities 
regulatory framework.&#8221; Securities are traditional financial instruments where 
the investor expects monetary gain, such as bonds and stocks. Tokenizing 
securities has many benefits, including faster settlement times, lower costs 
than with traditional finance infrastructure, and 24-hour markets.
BlackRock already offers a US federal debt tokenized fund called BUIDL, the 
largest fund with a $2.9 billion market cap. Competing products include 
Franklin Templeton&#8217;s BENJI fund.
Brokerage firm Robinhood is also exploring securities tokenization. The 
company is reportedly working on a blockchain that would allow retail 
investors in Europe to trade US securities like stocks.
_**Magazine: Ethereum is destroying the competition in the $16.1T TradFi 
tokenization race**_

BlackRock, crypto task force discuss ETP staking, tokenization

Bitcoin blasted back through the psychologically charged $100,000 threshold 
for only the second time in its 16-year history, reclaiming a level last seen 
in February. As the world’s first stateless money ticked higher, SkyBridge 
Capital founder Anthony Scaramucci told podcast host Anthony “Pomp” Pompliano 
that sovereign wealth funds are already accumulating the asset and are poised 
to scale those purchases dramatically once Washington finishes writing the 
rules of the road. Sovereigns Are Pouring Billions into Bitcoin Scaramucci, 
whose new Little Book of Bitcoin chronicles his own conversion from skeptic to 
evangelist, said overseas officials are quietly adding the digital asset even 
before the United States clarifies stablecoin legislation, bank-custody 
guidance and broader tokenization rules. Related Reading: Bitcoin Resistance 
Limited Beyond $100,000, On-Chain Data Suggests When asked if sovereigns are 
buying Bitcoin secretly, Scaramucci answered: “I think they are buying it, I 
think they’re buying it on the margin,” he said, adding that regulatory green 
lights will unleash a massive wave of capital inflow. “I don&#8217;t think it&#8217;s 
going to be a gigantic ground swell of buying until we green light legislation 
in the United States,” he stated. This, in Scaramucci’s view, will make 
“people worth 10, 20, 30 trillion dollars buying a half-a-billion dollars of 
Bitcoin, buying a billion dollars of Bitcoin.” 🇺🇸 ANTHONY SCARAMUCCI JUST 
CONFIRMED THAT ALL SOVEREIGNS ARE BUYING BILLIONS OF #BITCOIN THIS IS WILD!!! 
🚀 pic.twitter.com/AInDVGR6Jh — Vivek⚡️ (@Vivek4real_) May 8, 2025 The former 
White House communications director framed today’s discreet allocations as a 
rational response to an increasingly erratic policy environment. With tariffs 
ricocheting through global supply chains and the dollar’s primacy “controlling 
the global economy,” he argued, officials outside the United States are 
searching for insurance against what he called “executive-policy behavior.” 
“We may need to be decoupled from one sovereign currency,” Scaramucci said, 
predicting that gold’s record highs and Bitcoin’s resilience during this 
year’s stock-market slump stem from the same instinct for self-protection. 
Related Reading: Bitcoin Soars Toward $100,000 As Treasury, Not Fed, Drives 
Liquidity: Expert He stopped short of predicting that Bitcoin will replace the 
dollar, but he insisted that sovereign accumulation is the precondition for an 
eventual seven-figure price tag. “If you want to see a million-dollar Bitcoin, 
that’s when somebody at a sovereign says, ‘Okay, this is part of the 
infrastructure of the world’s financial-services architecture.’” In that 
scenario, he expects official portfolios to target 1%-3% allocations—enough, 
in his view, to lift Bitcoin’s market capitalization toward gold’s $20-30 
trillion domain. Digital Gold Will Win For now, the “digital gold” thesis 
appears to be holding. While global equity indices have fallen 5%-8% since the 
latest tariff salvos, Scaramucci noted, Bitcoin is “roughly where it was at 
the beginning of the year.” Thursday’s breakout above $100,000 underscores 
that relative strength. SkyBridge itself has ridden that wave. Scaramucci 
reminded listeners that he began buying Bitcoin for his flagship fund around 
$20,000, calling the position “quite beneficial to our performance.” 
Independent fund-database figures show the $1.7 billion vehicle returned 43% 
in 2024, outpacing its hedge-fund benchmark by more than four-to-one—results 
Scaramucci attributes chiefly to the Bitcoin stake. “This is the best idea I 
have seen in my career,” he said. “I knew the risks of not jumping in were far 
greater than playing it safe.” Generational dynamics are reinforcing those 
flows. While older asset-managers still lean toward bullion, Scaramucci said, 
younger allocators already treat Bitcoin as an heirloom asset. “My 
grandchildren will end up having Bitcoin as a store of value,” he predicted. 
Still, he cautioned that widespread institutional adoption will not occur 
until the United States clarifies its regulatory stance. “If we green-light 
legislation before the end of the congressional term … then I will tell you 
that there’ll be large blocks of buying,” he said. Absent that clarity, 
purchases will remain incremental—yet even incremental flows from trillion- 
dollar institutions can tally in the billions. At press time, BTC traded at 
$103,077. Featured image created with DALL.E, chart from TradingView.com

Sovereigns Are Buying Billions Of Bitcoin, Says Anthony Scaramucci

US Vice President JD Vance will speak at the Bitcoin 2025 conference in Las 
Vegas, roughly a year after then-presidential candidate Donald Trump spoke at 
the same event.
According to a May 9 notice from the event&#8217;s organizers, Vance will address 
conference attendees in person on May 28, making him the first sitting US vice 
president to speak at a digital asset conference.
Trump provided a pre-recorded video of himself from the White House to the 
organizers of the Digital Asset Summit in March &#8212; his first appearance at a 
crypto event since taking office in January &#8212; and spoke in person at the 
Bitcoin 2024 conference in Nashville while campaigning.
Though Vance is a Bitcoin (BTC) holder &#8212; he holds $250,000 to $500,001 worth 
of the cryptocurrency, according to a financial disclosure filed in August 
2024 &#8212; it&#8217;s unclear whether the vice president intends to make a substantive 
policy statement at the event. Cointelegraph reached out to Vance&#8217;s office for 
comment but had not received a response at time of publication.
_**Related:**__**Resurfaced clip shows Trump &#8216;s VP pick slamming Gensler&#8217;s 
approach to crypto**_
Since taking office alongside Trump in January, Vance has largely stayed out 
of the media spotlight in terms of crypto-related policy. The president has 
signed executive orders on establishing a crypto reserve and regulating 
stablecoins, while Vance&#8217;s involvement with overseeing the industry seemed to 
be limited to speaking on AI regulation.
Two of the president&#8217;s sons, Donald Trump Jr. and Eric Trump, who are tied to 
the crypto platform World Liberty Financial, were also scheduled to speak at 
the May event. Many lawmakers have expressed concerns that the platform, 
backed by the Trump family, is being used to personally enrich the president.
## Trump&#8217;s ties to crypto holding up legislation?
The vice president&#8217;s appearance at the crypto conference was announced the 
same week Democratic lawmakers in the House of Representatives and the Senate 
strongly criticized Trump&#8217;s connections to the crypto industry.
In the House, Representative Maxine Waters halted a joint hearing discussing a 
crypto market structure bill and led a group of lawmakers to explore &#8220;Trump&#8217;s 
crypto corruption.&#8221; In the Senate, nine Democrats blocked a crucial vote on a 
stablecoin bill, saying the legislation lacked certain safeguards, hinting at 
the Trump family enriching itself through the USD1 stablecoin issued by World 
Liberty Financial.
_**Magazine:**__**Trump &#8216;s crypto ventures raise conflict of interest, insider 
trading questions**_

US VP Vance to speak at Bitcoin conference amid Trump crypto controversies

**Key points:**
 * Bitcoin holding $100,000 as a level of support would confirm the current trend change.
 * Ether leads among altcoins, and DeFi tokens could follow.
Bitcoin (BTC) broke above the psychologically critical $100,000 level on May 
8, and the bulls are trying to hold on to the level on May 9. In an X post, 
CoinGlass said that Bitcoin&#8217;s rally resulted in $837.80 million in short 
liquidations in a 24-hour period, the largest since 2021.
Bitcoin&#8217;s rally also lifted several major altcoins, which soared above their 
respective overhead resistance levels. The altcoin rally was led by Ether 
(ETH), which surged roughly 22% on May 8, triggering a $328 million 
liquidation of Ether short positions.
_Crypto market data daily view. Source:__Coin360_
Although the short-term picture has turned positive, Bitcoin bulls are 
expected to face significant resistance near the all-time high of $109,588. 
During pullbacks, traders will have to maintain the price above $100,000 to 
retain the bullish momentum.
Could Bitcoin continue its upward move and pierce the all-time high? Are 
altcoins getting ready for a short-term rally? Let&#8217;s analyze the charts of the 
top 10 cryptocurrencies to find out.
## Bitcoin price prediction
Bitcoin rallied more than 6% and closed above the $100,000 barrier on May 8, 
indicating that buyers have asserted their supremacy.
_BTC/USDT daily chart. Source: Cointelegraph/TradingView_
The BTC/USDT pair could reach the $107,000 to $109,588 zone, where the bears 
are expected to mount a strong defense. The overbought level on the relative 
strength index (RSI) suggests a short-term pullback is possible.
If the price turns down from the overhead resistance but finds support at the 
20-day exponential moving average ($94,879), it signals a positive sentiment. 
The bulls will then make one more attempt to push the price above the all-time 
high.
The first sign of weakness will be a close below the 20-day EMA. That suggests 
profit booking at higher levels. The pair may then tumble to the 50-day simple 
moving average ($88,139).
## Ether price prediction
Ether (ETH) skyrocketed above the $2,111 resistance on May 8 and extended its 
up move to nearly $2,550 on May 9.
_ETH/USDT daily chart. Source: Cointelegraph/TradingView_
The long wick on the candlestick shows solid selling near $2,550. If the price 
turns down from $2,550 but finds support at $2,111, it indicates that the 
bulls are trying to flip the level into support. The bulls will then make one 
more attempt to drive the ETH/USDT pair above $2,550. If they succeed, the 
pair could climb to $2,850.
Sellers will have to pull the price below the $2,111 level to weaken the 
bullish momentum. The pair may then slide to the 20-day EMA ($1,867).
## XRP price prediction
Buyers have pushed XRP (XRP) to the resistance line, which is a crucial near- 
term level to watch out for.
_XRP/USDT daily chart. Source: Cointelegraph/TradingView_
Sellers are expected to defend the resistance line aggressively because a 
break and close above it signals a potential trend change. The XRP/USDT pair 
could rise to $2.60 and subsequently to $3.
If the price turns down from the resistance line but finds support at the 
moving averages, it suggests that the bulls are buying the dips. The bulls 
will then again attempt to propel the price above the resistance line. Sellers 
will have to tug the price below the $2 support to seize control.
## BNB price prediction
BNB (BNB) made a decisive move higher on May 8 and rose above the immediate 
overhead resistance at $620.
_BNB/USDT daily chart. Source: Cointelegraph/TradingView_
The BNB/USDT pair reached the $644 level on May 9, which is expected to behave 
as a strong barrier. However, if buyers keep up the pressure and pierce the 
$644 resistance, the pair could soar to $680.
Time is running out for the bears. If they want to halt the uptrend, they will 
have to fiercely defend the $644 level and pull the price below the moving 
averages. The pair could then descend to $580.
## Solana price prediction
Solana (SOL) broke and closed above the $153 resistance on May 8, indicating 
that the bulls are in charge.
_SOL/USDT daily chart. Source: Cointelegraph/TradingView_
The SOL/USDT pair could reach $180, which is expected to behave as a 
formidable obstacle. If the price turns down from $180 but rebounds off $153, 
it suggests that buyers are trying to form a higher low. That enhances the 
prospects of a rally to $200.
This optimistic view will be invalidated in the near term if the price turns 
down sharply and plummets below the $140 support. That suggests traders are 
booking profits at higher levels.
## Dogecoin price prediction
Buyers successfully defended the moving averages and pushed Dogecoin (DOGE) to 
the overhead resistance at $0.21.
_DOGE/USDT daily chart. Source: Cointelegraph/TradingView_
Sellers will try to halt the up move at $0.21, but if the bulls pierce the 
resistance, the DOGE/USDT pair could rally toward $0.25. If the price turns 
down from $0.25 but finds support at $0.21, it signals that the bulls have 
flipped the level into support. That suggests the downtrend could be over.
Contrarily, if the price turns down sharply from $0.21 and breaks below the 
moving averages, it indicates that the pair may oscillate inside the range for 
some more time.
## Cardano price prediction
Cardano (ADA) bounced off the 50-day SMA ($0.67) and completed an inverse 
head-and-shoulders pattern on May 8.
_ADA/USDT daily chart. Source: Cointelegraph/TradingView_
The 20-day EMA ($0.69) has started to turn up, and the RSI is in the positive 
territory, signaling an advantage to buyers. If the price remains above the 
neckline, the ADA/USDT pair could surge toward the pattern target of $1.01. 
There is resistance at $0.83, but it is likely to be crossed.
If bears want to prevent the upside, they will have to yank the price below 
the 50-day SMA. That could sink the pair to $0.60 and eventually to $0.50.
_**Related:**__**Chance of Bitcoin price highs above $110K in May increasing 
&#8212; Here&#8217;s why**_
## Sui price prediction
Sui (SUI) rallied sharply from the 20-day EMA ($3.29) and climbed above the 
$3.90 overhead resistance on May 8.
_SUI/USDT daily chart. Source: Cointelegraph/TradingView_
The upsloping 20-day EMA and the RSI near the overbought zone signal that the 
bulls are in command. If the price maintains above $3.90, the SUI/USDT pair 
could rally to $4.25 and eventually to $5.
Alternatively, if the price turns down and closes below $3.90, it suggests 
that the bears are trying to make a comeback. The pair could then slump to the 
20-day EMA, which is likely to act as solid support.
## Chainlink price prediction
Chainlink (LINK) turned up sharply from the 50-day SMA ($13.72) on May 8 and 
completed an inverse head-and-shoulders pattern.
_LINK/USDT daily chart. Source: Cointelegraph/TradingView_
Sellers are trying to pull the price back below the neckline, but if the bulls 
successfully hold the level, the LINK/USDT pair could break above the 
resistance line and rally toward the pattern target of $21.30.
This optimistic view will be negated if the price turns down sharply and 
breaks below the moving averages. That opens the doors for a fall to $12, 
indicating that the pair may remain inside the channel for a while longer.
## Avalanche price prediction
Avalanche (AVAX) bounced off the moving averages on May 8 and reached the 
overhead resistance of $23.50 on May 9.
_AVAX/USDT daily chart. Source: Cointelegraph/TradingView_
Sellers are expected to defend the $23.50 level with all their might because a 
break and close above the resistance could clear the path for a potential rise 
to $28.78 and, after that, to $31.73.
On the contrary, if the price turns down sharply from $23.50 and breaks below 
the moving averages, it suggests that the AVAX/USDT pair may extend its stay 
inside the range for a few more days.
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.

Price predictions 5/9: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX

Mining firm TeraWulf reported a net loss of approximately $61.4 million in its 
earnings for the first quarter of 2025, further deteriorating from the same 
period last year.
Revenue fell to $34.4 million from $42.4 million in the same period of 2024, 
according to the company&#8217;s earnings report, published May 9. Cost of revenue 
rose sharply to $24.5 million, up from $14.4 million a year earlier.
As a result, TeraWulf&#8217;s cost of revenue accounted for 71.4% of total income 
from operations in Q1 2025, more than double the 34% recorded in the prior- 
year quarter. In Q1 2024, the company posted a net loss of $9.6 million.
_TeraWulf &#8216;s profit and loss statement for Q1 2025. Source: __TeraWulf_
TeraWulf attributed the decreased revenue to Bitcoin&#8217;s (BTC) post-halving 
economics that reduced the block subsidy from 6.25 BTC per block mined to 
3.125 BTC per block mined, rising network difficulty, and severe weather in 
the upstate New York area that is home to a TeraWulf mining facility.
The company is not alone in posting losses for the quarter, as the already 
competitive mining industry faces reduced block rewards and the macroeconomic 
uncertainty of geopolitical trade tensions that have created turmoil for 
financial markets and businesses alike.
_**Related:**__**Riot Platforms posts Q1 loss, beats revenue estimates**_
## Miners hit by trade tariffs, high uncertainty
The trade tariffs introduced by US President Donald Trump have raised concern 
among mining companies and analysts that the import duties will drive up the 
costs of hardware and other physical infrastructure necessary to run crypto 
nodes.
_Rising Bitcoin network difficulty means miners must expend computing 
resources to mine blocks. Source:__CryptoQuant_
Imposing tariffs on mining hardware like application-specific integrated 
circuits (ASICs) will also give miners outside the United States a price 
advantage over US-based competitors in obtaining the critical equipment 
needed.
As a result of the ongoing tariff negotiations, miners sold 40% of their mined 
BTC in March 2025, reversing the post-halving trend of miners accumulating BTC 
for corporate treasuries or reserves.
March&#8217;s sell-off was the highest month for miner BTC liquidations since 
October 2024 &#8212; the month ahead of the 2024 US presidential election, which 
was pivotal for the crypto industry and represented high uncertainty for 
businesses and investors.
_**Related:**__**Illegal arcade disguised as … a fake Bitcoin mine? Soldier 
scams in China: Asia Express**_