Author: Monicah W

Coinbase Global Inc. will join the S&P 500 index, replacing Discover Financial Services, effective before the market opens on Monday, May 19. S&P Dow Jones Indices announced the change late Monday.

The move follows Capital One Financial’s acquisition of Discover Financial, a deal expected to close soon pending final conditions. 

Coinbase Stock Surges After S&P 500 Inclusion

Coinbase becomes the first cryptocurrency-focused company to be included in the S&P 500. Following the announcement, Coinbase shares rose more than 7% in after-hours trading.

The inclusion comes shortly after Coinbase agreed to acquire crypto derivatives exchange Deribit for $2.9 billion. The deal includes a $700 million cash payment, with the remainder in Class A stock, potentially delaying its finalization.

Despite the milestone, Coinbase’s latest earnings report showed mixed results. In Q1 2025, the company missed revenue expectations by $200 million.

However, platform engagement remains strong. USDC balances on Coinbase increased by 49% quarter-over-quarter, signaling resilience among its user base despite financial headwinds.

Coinbase’s addition to the S&P 500 marks a significant moment for the cryptocurrency industry’s growing integration into traditional finance.

The post Coinbase Becomes the First Crypto Firm to Join S&P 500 appeared first on BeInCrypto.

Solana tokens like HOTMOM, DOOD, and IKUN are gaining serious traction as some of the most active and talked-about new launches on the network. HOTMOM is leading the meme coin charge with a $54 million market cap and strong backing from public figures.

DOOD, the official token of the Doodles NFT collection, has quickly attracted nearly 160,000 holders, riding the wave of NFT projects launching native tokens. Meanwhile, IKUN is drawing massive transaction volume and continued whale accumulation, signaling strong momentum despite shifts in smart money behavior.

Hot Mom (HOTMOM)

HOTMOM has quickly become one of the most talked-about Pump tokens, gaining major traction just three days after launch.

With over 6,500 holders and a market cap of $54 million, it’s showing signs of strong early adoption in the meme coin space. If good momentum continues, HOTMOM could rise to test the $100 million market cap.

The token has surged more than 37% in the last 24 hours, backed by impressive activity—logging over 52,000 daily transactions and $8.7 million in trading volume.

According to Nansen, HOTMOM is held by some well-known figures like threadguy, Crypto Ninja, and gake—a Solana smart trader with an on-chain net worth of $1.73 million.

Doodles (DOOD)

Doodles, once one of the most hyped NFT collections, just launched its official token a few hours ago—and it’s attracting attention.

The token has attracted nearly 160,000 holders in just three days and reached a market cap of approximately $53 million, showing strong initial demand across the crypto and NFT communities.

The launch follows a growing trend of major NFT projects rolling out their tokens, similar to what Pudgy Penguins did with PENGU a few months ago and Bored Ape did with APE a few years ago.

Between May 9 and May 12, whale holdings of DOOD jumped dramatically from 69,202 to 250 million, signaling significant early accumulation.

In the last 24 hours, the token recorded 5,509 transactions and $734,000 in trading volume.

Ikun (IKUN)

IKUN has emerged as one of the more active tokens on Solana, with nearly 6,000 holders and a market cap exceeding $12 million.

In the last 24 hours alone, it saw an impressive 112,265 transactions and $37 million in trading volume.

Smart money holdings in IKUN have dipped slightly in recent hours. Public wallets still hold around $320,000 worth of the token. Meanwhile, whales continue to accumulate.

According to Nansen, Unipcs is the largest whale, holding 12.45 million IKUN worth roughly $150,000. Despite shifting dynamics among retail and smart wallets, this ongoing whale activity shows confidence in IKUN’s short-term potential.

The post Top 3 New Solana Tokens to Watch For the Third Week of May 2025 appeared first on BeInCrypto.

In a keynote address at the SEC’s latest Crypto Roundtable, Paul Atkins commented on the Commission’s role in crypto policy. He identified three key regulatory focus areas: issuance, custody, and trading.

Compared with his last Roundtable appearance in late April, Atkins gave an insightful look at his ambitious crypto agenda. With these priorities, it seems like the SEC will truly transform US crypto policy.

Paul Atkins’ Plans for the SEC

Earlier today, the SEC hosted its fourth Crypto Roundtable discussion, centered around tokenization. Its agenda has been telegraphed for several weeks, and the Commission published several members’ full statements.

Hester “Crypto Mom” Peirce was enthusiastic, Caroline Crenshaw displayed her usual skepticism, and SEC Chair Paul Atkins gave a keynote address:

“In order for the United States to be the ‘crypto capital of the planet’ as envisioned by President Trump, the Commission must keep pace with innovation. Rules and regulations designed for off-chain securities may be incompatible with or unnecessary for on-chain assets and stifle the growth of blockchain technology,” he claimed.

This discussion is Paul Atkins’ second Crypto Roundtable discussion since becoming SEC Chair. Today’s appearance, however, was very different.

Although his speech in April was remarkably brief, this keynote address was much more comprehensive. Atkins’ comments extended past tokenization to give insights into his overall outlook on crypto policy.

His comments revolved around a common theme: the digital asset industry is comprehensively different from TradFi institutions, and requires a new approach.

Atkins claimed that the SEC has the responsibility “to set fit-for-purpose standards for market participants.” To accomplish this, he identified three overarching areas of interest:

First, Atkins claimed that the SEC should enable crypto firms to explicitly issue securities contracts. Issuers have generally avoided the Howey Test, and Atkins mentioned that only four crypto companies currently have registered securities offerings.

He believes that the SEC “has broad discretion under the securities acts to accommodate the crypto industry” and intends to use it.

Secondly, Atkins wishes to direct the SEC to liberalize custody rules for cryptoassets. He plans to encourage more of them by reforming “qualified custodian” requirements and the broker-dealer framework.

This includes recognizing blockchain-based self-custody solutions and other high-tech approaches that don’t currently align with the law’s view of an asset custodian.

In a particularly important move, Atkins wants the SEC to allow more asset trading. This position manifests in a few ways. He doesn’t just advocate for single firms to offer both securities and commodities; Atkins would even allow “pairs trading,” matching both categories together.

His priority is keeping the securities market in the US, and he wants Congress to facilitate this.

In summary, Paul Atkins has very ambitious plans for the SEC’s crypto approach. Compared to his last Roundtable appearance, today’s keynote speech was practically a manifesto.

With this bold and clear-eyed leadership, it seems inevitable that the SEC will transform US crypto regulation for the better.

The post What Did Paul Atkins Say at the SEC’s Latest Crypto Roundtable? appeared first on BeInCrypto.

ZKsync’s official X (formerly Twitter) account was briefly compromised to promote a fake ZK token airdrop.

The fraudulent post claimed that every follower was eligible to claim a share of the initial token supply. It directed users to a suspicious link: “distribution-zksync.io.”

The post remained live for approximately 15 minutes before being deleted. As of now, ZKsync has not issued any public statement confirming the breach.

zkSync twitter is compromised. Don’t interact. pic.twitter.com/1l9cNwBLUJ

— pseudo (@pseudotheos) May 12, 2025

Despite the hack, there has been no significant immediate impact on the ZK token price, yet. However, further fallout could still materialize if user trust erodes.

Security experts warn users to remain cautious and avoid interacting with any unverified links related to token distributions.

This incident highlights the growing frequency of social media breaches targeting major crypto projects.

This is a developing story.

The post ZKsync X Account Hacked to Promote Fake Airdrop appeared first on BeInCrypto.

The website of Curve Finance, a major decentralized finance (DeFi) protocol, has reportedly been hacked. 

The team posted an urgent alert on X (formerly Twitter), advising users not to interact with the platform. While details remain vague, the protocol has potentially suffered a DNS hijack. 

Curve Finance Hacked – What We Know So Far

The incident has reportedly impacted multiple DeFi projects. Convex Finance and Resupply, both of which rely on Curve’s data feeds, reported outages and functionality issues. 

Both teams confirmed their own platforms remain secure, but dependent services are disrupted until Curve’s domain is restored.

Convex’s website uses data from Curve, and Curve’s domain name is currently suffering an attack. As a result, this data is currently unavailable, which negatively impacts most of Convex’s website. Convex’s website is safe but will not work correctly until Curve’s domain name… https://t.co/d4npGmMgyn

— Convex Finance (@ConvexFinance) May 12, 2025

DNS hijacking is a type of cyberattack where attackers manipulate the Domain Name System to redirect users to malicious sites. In this case, attackers could trick users into interacting with fraudulent versions of Curve’s platform.

Security experts and users have flagged this as a strong reminder of the risks associated with DeFi frontends. Unlike decentralized smart contracts, web frontends remain vulnerable to traditional attacks such as DNS hijacking.

Projects linked to Curve, including Convex, have emphasized that while their backends are unaffected, users should avoid signing transactions or interacting with dApps tied to Curve during this period.

While all smart contracts are safe, the domain name points to a malicious site which can drain your wallet!

We are investigating and working on recovering the access.

No sign of a compromise on our side https://t.co/YUmwtwt5PH

— Curve Finance (@CurveFinance) May 12, 2025

Curve Finance said it is working with affected partners to resolve the issue. As the investigation continues, further updates are expected.

This situation highlights the need for DeFi protocols to focus more heavily on frontend security. Recent DeFi hacks reflect that the front end remains an exposed vector despite decentralized architectures.

This is a developing story.

The post Curve Finance Reportedly Hacked, Users Urged to Avoid the Website appeared first on BeInCrypto.

Onyxcoin (XCN) has faced challenges in the past month, with its price largely stagnating. The lack of bullish movement is likely a result of opposing forces—investor behavior and market conditions—acting on the cryptocurrency. 

However, there is some positive news surrounding the upcoming OIP-56 proposal, which will bring gas-free voting for the users. This could act as a trigger for XCN price rise.

Onyxcoin Is Overvalued

The NVT (Network Value to Transactions) ratio for Onyxcoin is currently at a five-month high, which indicates a sharp rise in network valuation relative to transaction activity. This spike signals a potential overvaluation of XCN, as the network’s actual transaction activity is not keeping pace with its valuation. 

This discrepancy can create a sense of inflated value, which historically points to a price correction. With the NVT ratio showing a disconnect between price and real-world usage, Onyxcoin could experience increased selling pressure if investors start to realize the overvaluation.

Despite the signs of overvaluation, Onyxcoin is not facing significant bearish momentum, as shown by its Relative Strength Index (RSI). Currently, the RSI is sitting above the neutral 50.0 mark, indicating that, although the market is less favorable, XCN is still in a positive price zone. 

The RSI’s position suggests that Onyxcoin could remain relatively stable or even experience some upward momentum. If the broader market conditions improve or if OIP-56 succeeds in providing further utility to the network, the price may have the potential to recover.

XCN Price Aims For Recovery

Onyxcoin’s price is currently trading at $0.0180, consolidating between $0.0214 and $0.0165. The lack of bullish momentum in the past few weeks has kept the price from rising above $0.0214, reflecting market hesitation.

Given the mixed signals from both market sentiment and technical indicators, Onyxcoin’s price may continue to consolidate in this range for the time being.

This consolidation phase is likely to continue unless a significant catalyst pushes the price in one direction. If market conditions worsen, Onyxcoin could face a drop below the $0.0165 level, possibly falling to $0.0150.

This would further validate concerns about the cryptocurrency’s overvaluation and could signal a deeper correction in its price.

However, if Onyxcoin’s price begins to align with investor behavior and bullish momentum, it could break past the $0.0214 resistance. This would pave the way for a potential rise to $0.0237 and eventually towards $0.0300.

A successful breach of these levels would invalidate the current bearish outlook, indicating a stronger uptrend for Onyxcoin in the near future.

The post Onyxcoin Prepares For OIP-56 Update, But XCN Price May Be Capped appeared first on BeInCrypto.