Bitcoin price remained in an extended consolidation after the U.S. lost its last triple-A credit rating on Friday. Bitcoin (BTC) was trading at $103,000, 2.8% below its highest level this month. This slight pullback has brought its market cap to…

Moody’s cuts US credit rating, Bitcoin doesn’t flinch

Spot bitcoin exchange-traded funds (ETFs) drew $260.27 million in net inflows 
on Friday, May 16, significantly outpacing spot ethereum ETFs, which recorded 
a total inflow of $22.12 million. Bitcoin ETFs Dominate Friday Flows While 
Ethereum Sees Tepid Uptake Leading Friday’s activity in the bitcoin ETF space 
was Blackrock’s Ishares Bitcoin Trust (IBIT), which took in […]

Bitcoin ETFs Pull In $260M Friday as Blackrock’s IBIT Secures 631,962 BTC

According to blockchain data, a new Solana token named Eric Trump shot up 
6,200% in just 24 hours. It sprang to life on May 16 via the Pump.fun 
launchpad and swelled to a market cap of 140 million. Traders piled in fast, 
but on‑chain detectives noticed more than 80% of the supply parked in just 10 
wallets. That kind of concentration often signals a setup for a sudden 
collapse. Related Reading: Analysis: Crypto Heats Up As $35 Billion Enters 
Market In Under A Month Political Name Exploitation Using a well‑known 
figure’s name can be a quick way to grab attention. Based on reports from 
Bubblemaps, the token’s ties to “jv7d” on Solana raised red flags. When 
insiders hold most of the coins, they can dump them at will. Retail investors 
end up holding what’s left—and that often means heavy losses. a rug in the 
making#ERICTRUMP is currently trending on most platforms. avoid it. 
pic.twitter.com/g1KE7wKMCA — Bubblemaps (@bubblemaps) May 16, 2025 Warning 
Signs On-Chain Cluster analysis showed the top 250 holders are linked through 
a handful of addresses. That pattern mirrors the WOLF token, which hit 42 
million before plunging to almost nothing. Analysts say these moves fit the 
classic rug‑pull script, where early backers cash out at the peak, then 
vanish. Copycat Tokens Multiply The same wallet, known as “BjTm,” has already 
launched three other Eric Trump tokens that fizzled quickly. Based on 
CoinMarketCap data, more than 736 imitation tokens have been pushed into the 
official Trump wallet space. Of those, 192 use Trump family names, and 67 
claim to be “official.” Even Elon Musk’s name crops up in at least 35 of them. 
Global Political Targets Scammers aren’t stopping with US figures. In April, 
the verified X account of UK MP Lucy Powell was hijacked to promote a fake 
Solana token. It tapped into her 70,000 followers and netted just 225, but it 
showed how a trusted badge can fool people. Related Reading: ‘Judgment Day Is 
Coming’—XRP Set To Explode, Analyst Warns Investor Warning Lights Based on 
this pattern, analysts urge caution. When a token’s value spikes without clear 
backing—and most coins sit in a few wallets—that’s a signal to step back. 
Blind loyalty to a name, political or otherwise, can turn into financial pain. 
What Comes Next As more political meme coins pop up, the risk grows. Every 
high‑profile name could become bait. Investors should check who holds the 
tokens, watch for rapid launches on cheap networks like Solana, and keep in 
mind that hype can vanish as fast as it appears. In a space where hype often 
trumps fundamentals, staying alert might be the best way to stay afloat. 
Featured image from Unsplash, chart from TradingView

Trump Token Mania: Over 6,000% Pump Or Classic Solana Trap?

Sequoia Capital&#8217;s Roelof Botha was among the high-profile victims whose 
personal information was compromised in the recent Coinbase hack.

Coinbase breach strikes PayPal Mafia royalty, Sequoia Capital boss

This content is provided by a sponsor. PRESS RELEASE. Ethereum and Solana 
holders are enjoying solid profits this month, and many are now rotating those 
gains into a new project catching serious attention: Remittix (RTX). As fresh 
capital flows in, Remittix’s presale has already crossed major funding 
milestones, driven by investor confidence in its real-world […]

Ethereum and Solana Holders Take Profit, Investment Into Remittix Soars With Major Updates Near

Michael James, the head of institutional business development at Douro Labs &#8212; 
the company that developed the Pyth high-speed blockchain oracle network &#8212; 
told Cointelegraph that oracle networks like Pyth are disrupting the $50 
billion financial data industry that provides critical price information to 
exchanges, brokerages, trading firms, and other institutional entities.
In an interview at Consensus 2025, the executive said that Pyth Network&#8217;s data 
pull model sets it apart from traditional pricing oracles, allowing customers 
to pay for data on demand, reducing costs for institutions reliant on real- 
time market data.
_Differences between pull and push models in oracle systems. Source:__Pyth 
Network_
According to the executive, the financial data industry is currently 
monopolized by around eight major providers that continually raise prices on 
clients arbitrarily. James added:
&gt; &#8220;These data vendors have no competition in traditional finance, and so they 
&gt; have all the pricing power in the world. There is no substitutability; 
&gt; whether you are a banker or hedge fund and you are trading more or less &#8212; 
&gt; you still have to buy that data for compliance reasons.&#8221;
The high costs of financial data stifle innovation and prohibit small to 
medium-sized businesses from taking part in the global financial services 
industry, further concentrating the sector in the hands of a few large players 
and preventing novel use cases from emerging.
_**Related:**__**Asset tokenization expected to speed capital flows, says 
Chainlink&#8217;s Nazarov**_
## Pyth experiences significant growth in 2024
The Pyth oracle network provides real-time market data and price feeds for 
cryptocurrencies, equities, foreign currency exchange markets (FOREX), 
commodities, and rates.
In December 2024, Pyth announced the launch of real-time oil pricing data on 
over 80 blockchain networks.
The real-time oil price feeds track data from West Texas Intermediate (WTI) 
and Brent Crude Oil, aggregating the data from multiple sources and clearing 
the path for energy derivatives instruments and energy trading to take place 
on blockchain rails.
_A breakdown of market share between blockchain oracle providers. 
Source:__DeFiLlama_
Throughout 2024, Pyth network increased its total value secured (TVS), a 
metric that tracks the amount of capital secured by an oracle network, 
46-fold.
According to data from DeFiLlama, Pyth currently commands roughly 11.3% of the 
blockchain oracle market, up from the approximately 10.8% in market share 
reported in September 2024.
_**Magazine:**__**Ethereum is destroying the competition in the $16.1T TradFi 
tokenization race**_