The U.S. Senate voted on Monday, May 19, to move forward with the GENIUS Act, a landmark bill that would create a regulatory framework for stablecoins. According to the results published on the Senate’s website, the bill passed by a…

U.S. Senate advances GENIUS Act in major step toward stablecoin regulation

The founder of the Ugandan blockchain and crypto education institution 
Mitroplus Labs was abducted by armed criminals posing as law enforcement. The 
criminals demanded $500,000 and access to the founder&#8217;s cryptocurrency 
wallets. Crypto Abduction Threat Spreads to Africa On May 17, Festo Ivaibi, 
founder of the Ugandan blockchain and crypto education institution Mitroplus 
Labs, became […]

Crypto Abduction Threat Spreads to Africa; Ugandan Founder Targeted

Solana (SOL) has reclaimed crucial levels amid its price rally, recording its 
highest range in months. However, as the market’s recovery takes a pause, the 
cryptocurrency has hit a key level that could propel or delay its surge to new 
highs. Related Reading: Chainlink Struggles At Key Resistance Level – $10 
Support Back In Focus Solana Rally Faces Key Barrier Solana’s price has 
significantly surged over the past several weeks, recovering from April’s 
pullback and breaking out of its downtrend. After its January all-time high 
(ATH), SOL retraced up to 63%, hitting a 14-month low of $95 last month. 
However, Solana climbed above some crucial ranges during the late April market 
recovery, reclaiming the $140 resistance as support for the first time in two 
months. Since then, the cryptocurrency rallied nearly 30% to the $180 mark, 
recording a three-month high of $183 last week before retracing to the $170 
support. Crypto Trader Mercury noted that Solana reached a “very HTF infection 
point,” which could send the cryptocurrency’s price to new ATHs again if 
reclaimed. However, the market slowdown has stalled SOL’s rally, with its 
price falling to the $165-$170 range over the weekend. After its recent 
performance, the trader added that SOL was rejected from the key inflection 
point “just enough to allow for a retest of the same trend that got us here in 
the first place.” Based on this, he considers that reclaiming the $180 mark 
and eventual breakout to news ATHs is on the horizon, “as long as that 4H 
200MAs trend holds.” Meanwhile, analyst Cas Abbé pointed out that Solana’s 
multi-year trend remains intact despite the recent pullbacks. As he explained, 
the cryptocurrency is over 50% up from its multi-year ascending trendline 
retest, seemingly marking the bottom for Solana. The analyst considers that 
SOL January ATH could not be the top, and another record-breaking rally could 
come this year. Similarly, trader Coinvo highlighted the ascending trendline, 
“If SOL continues to hold this trendline, it’s going much higher!” SOL eyes 
$200 Breakout Over the weekend, analyst Rekt Capital asserted that Solana has 
broken into its Post-Halving Re-Accumulation Range on the monthly timeframe, 
successfully retesting the $120-$135 range as support over the past couple of 
months. This key higher timeframe retest propelled the cryptocurrency to 
revisit the $165-$175 range’s high. However, he explained that Solana must 
break above the upper boundary to confirm a breakout and continue ascending, 
which it failed to do during last week’s close. SOL also must break and retest 
the upper boundary as a new support with a Weekly Close above this mark to 
exit the key range. Additionally, the analyst pointed out that previous 
performance suggests a price breakout could happen. Related Reading: Dogecoin 
On The Edge: Major Breakout Or Breakdown Imminent? According to its Q4 2024 
price action, if Solana builds a base around the Range high’s resistance, 
there’s a high chance for the price to rally. The analyst added that a 
successful breakout from this zone could send SOL’s price to the $200-$210 
mark. “SOL simply needs stability here at the Range High resistance, as that 
would telegraph that this is an area that is becoming support,” Rekt capital 
concluded. As of this writing, Solana trades at $165, a 3.1% decline in the 
daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Solana Rejected From Key ‘Inflection Point’, But Multi-Year Trend Suggests New Highs

**Key takeaways** :
 * Bitcoin is nearing a golden cross that led to 45-60% price rallies in the recent past.
 * Fundamentals like rising M2 supply and easing trade tensions support a bullish outlook.
 * Bearish divergence and overbought conditions show there&#8217;s still a risk of BTC falling below $100,000.
Bitcoin (BTC) will likely confirm a &#8220;golden cross&#8221; on its daily chart by the 
end of May, a technical pattern whose occurrences in recent years often 
preceded rallies.
_Source:__Benjamin Cowen_
## Previous golden crosses led to 45-60% BTC price rallies
As of May 20, Bitcoin&#8217;s 50-day simple moving average (50-day SMA; the red 
wave) was eyeing a close above its 200-day SMA (the blue wave) for the first 
time since October 2024, forming a golden cross.
_BTC/USD daily price chart. Source: TradingView_
Previously, BTC price had gained over 60%, with the reelection of Donald Trump 
as the US president playing a key role.
In October 2023, the golden cross was followed by a 45% BTC price rally, 
helped by Bitcoin ETF euphoria. September 2021 saw 50% gains in BTC price 
after painting a similar SMA crossover.
## Bitcoin&#8217;s golden crosses can fail
Using indicators that worked in the past is not a guaranteed strategy.
Traders learned that in February 2020, when Bitcoin&#8217;s golden cross preceded a 
62% price crash, primarily due to the global market rout led by the COVID-19 
lockdowns.
_BTC/USD daily price chart. Source: TradingView_
That episode underscores the importance of using golden crosses with broader 
technical and macro indicators while factoring in the possibility of 
unexpected events.
As of now, Bitcoin&#8217;s upcoming golden cross aligns with mostly supportive 
fundamentals, placing the signal on the bullish side of the ledger.
Increasing M2 money supply and easing US-China trade tensions, for instance, 
have propelled bets on a new record high for Bitcoin.
_Source:__Micha el van de Poppe_
What&#8217;s notable this time is that BTC is signaling a correction after its 
relative strength index (RSI) crossed above the overbought threshold of 70 
earlier in May.
_**Related:**__**Bitcoin trading in six-figure territory shows BTC is ready to 
carry gold &#8216;s &#8216;baton&#8217; &#8212; Fidelity exec**_
So, instead of an immediate rally after the cross, Bitcoin may initially pull 
back toward its SMA supports, sitting around the $92,400-95,000 range as of 
May 20.
_BTC/USDT daily price chart. Source: TradingView_
A growing bearish divergence between the rising Bitcoin price and falling RSI 
furthers the chances of short-term downside. Nonetheless, some technical 
indicators see the BTC price rallying toward $150,000 in the coming months.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.

Bitcoin is signaling a golden cross — What does it mean for BTC price?

Usual stablecoin issuer just launched its USD0/USDC liquidity pool on Fluid 
DeFi protocol, allowing liquidity providers to earn dual yields from both 
lending and trading APRs. On May 19, an RWA-backed stablecoin protocol Usual 
announced the launch of its USD0/USDC…

Usual’s stablecoin USD0 goes live on Fluid, unlocking dual yields for LPs

A recent data breach at crypto exchange Coinbase has raised concerns about 
user safety after hackers gained access to sensitive information including 
home addresses.
Coinbase, the world&#8217;s third-largest cryptocurrency exchange, confirmed that 
less than 1% of its transacting monthly users were affected in an attack that 
may cost the exchange up to $400 million in reimbursement expenses, 
Cointelegraph reported on May 15.
However, the &#8220;human cost&#8221; of this data breach may be much higher for users, 
according to Michael Arrington, the founder of TechCrunch and Arrington 
Capital.
&#8220;Very disappointed in Coinbase right now. Using the cheapest option for 
customer service has its price,&#8221; Arrington said in a May 20 X post, adding:
&gt; &#8220;Something that has to be said though &#8211; this hack &#8211; which includes home 
&gt; addresses and account balances &#8211; will lead to people dying. It probably has 
&gt; already.&#8221;
_Source: Michael_ _Arrington_
While no passwords, private keys or account funds were exposed, cybercriminals 
reportedly bribed overseas customer service contractors to access internal 
systems. This allowed them to steal user data that could be used in social 
engineering scams or even physical extortion attempts.
_**Related:**__**Hoskinson promises audit, is &#8216;deeply hurt&#8217; by $600M Cardano 
treasury claims**_
With Bitcoin (BTC) trading above $100,000, crypto wealth has become a growing 
target for criminals. Experts warn that leaked address data could expose high- 
net-worth individuals to real-world risks.
On May 16, Cointelegraph reported on six violent robberies that targeted 
cryptocurrency investors, aiming to extort digital assets via kidnapping or 
torture.
In a ruthless attack on May 4, the father of a French crypto entrepreneur was 
abducted in Paris, France. The kidnappers cut the victim&#8217;s finger and sent a 
video to his son, demanding 5 million euros in crypto.
The victim was held for two days before French police were able to find and 
rescue him. According to CNN, five people were arrested in connection with the 
kidnapping.
_**Related:**__**US crypto funds top $7.5B inflows in 2025 as investor 
appetite grows**_
## Crypto exchanges need &#8220;layered&#8221; cybersecurity
To prevent similar user data breaches, crypto exchanges need to adopt a 
&#8220;layered defense strategy,&#8221; according to Ronghui Gu, the co-founder of CertiK 
Web3 security firm.
&#8220;This can include privileged access management, zero trust architecture, 
multi-factor authentication across internal systems, and continuous monitoring 
with behavioral analytics,&#8221; Gu told Cointelegraph, adding:
&gt; &#8220;Preventive measures such as regular phishing simulations, tailored security 
&gt; training, and restricting third-party access to sensitive systems may help 
&gt; reduce these risks.&#8221;
However, crypto platforms will need to &#8220;rethink their security posture&#8221; as 
attackers &#8220;increasingly target human vulnerabilities rather than technical 
ones,&#8221; added Gu, warning of the rising threat of social engineering schemes.
_Incidents and losses in 2024 by month. Source: CertiK_
Social engineering schemes, such as phishing scams, were the most significant 
security threat of 2024, which cost the industry over $1 billion across 296 
incidents, according to CertiK.
_**Magazine:**__**Altcoin season to hit in Q2? Mantra &#8216;s plan to win trust: 
Hodler&#8217;s Digest, April 13 &#8211; 19**_