Author: Monicah W

BloFin, the leading futures trading exchange, made a bold statement as the Title Sponsor at TOKEN2049 Dubai 2025, marking its third consecutive year of sponsorship.

At this year’s TOKEN2049, BloFin joins top exchanges including OKX, Binance, and KuCoin as a Title Sponsor, marking another milestone in its global expansion and industry recognition. From a Platinum Sponsor last year to a Title Sponsor this year, BloFin’s elevation in status reflects the brand’s growing ambition and commitment to the cryptocurrency industry. The company has also made significant strides in its offerings, showcasing multiple brand advancements, including launching sub-accounts, achieving ISO 27001 certification, and becoming the fourth exchange in the industry to complete the Unified Trading Account feature.

BloFin’s presence was prominent throughout the venue, from the entrance and exclusive registration counter to the welcome bags and key areas across the event space. The team engaged with industry leaders, partners, traders, and KOLs, fostering insightful conversations and building meaningful relationships to drive future crypto growth.

Finny Takes the Spotlight: BloFin’s Mascot Shines as the Star of TOKEN2049

A standout moment at TOKEN2049 was the official debut of Finny, BloFin’s newly unveiled mascot. Designed as a meme-worthy space whale, Finny quickly became a crowd favorite and a visual symbol of BloFin’s unique brand identity. Finny symbolized BloFin’s commitment to protecting whales and embodied the brand’s aspirations to the moon. With its captivating design, Finny became the event’s most talked-about character, further solidifying BloFin’s connection with the crypto community.

The First-ever Whale’s Rave: Arcadia Side Event of TOKEN2049 Concludes Successfully, Marking the Beginning of Exciting Collaborations with Luke Belmar

The Whale’s Rave: Arcadia event, presented by BloFin, quickly became the most talked-about side event of TOKEN2049 Dubai 2025, drawing nearly 1,000 attendees worldwide. This year also marked a historic collaboration between BloFin and renowned crypto investor Luke Belmar,  taking the event to its peak and pushing its excitement to new heights.

Whale’s Rave: Arcadia was this exclusive event’s first edition, leaving an indelible mark on every attendee. The event redefined what crypto industry gatherings could look like, featuring premium whale-tier merchandise, an exclusive Whale’s Club-only gift, and the debut of BloFin’s beloved mascot Finny. BloFin also showcased a series of brand-defining performances, further solidifying the brand’s position as an innovator within the space.

In line with its continued growth, BloFin unveiled its all-new 2025 merchandise collection, designed exclusively for the crypto elite. The collection features eight unique items, including the coveted BloFin Top Whales Necklace and Ring Bundle, Whale’s Trading Journal, Gym Bag, Finny T-shirts, and exclusive Whale Club-only merchandise for VIP traders.

“We are incredibly excited about the success of the first-ever Whale’s Rave,” said Matt, CEO of BloFin. “It was an unforgettable moment to celebrate with our global community and partners. We were also pleased to share major product updates, including our Unified Trading Account, Sub-Account features, and the upcoming BloFin Card. We look forward to seeing everyone again in Singapore.” “It was the most fun and craziest party of the week!” as described by BeInCrypto and CoinTelegraph.

As the flames of the event burned bright, BloFin remains focused on its mission to create unforgettable experiences for its community and build a future where Whales Are Made.

With sights set on TOKEN2049 Singapore, BloFin is preparing to elevate its presence further, headlined by a large-scale, thousand-person celebration and deeper engagement with industry leaders. As BloFin expands its global reach and solidifies its role at the forefront of digital finance, the world can anticipate the next bold chapter from the brand that continues to prove: this is where whales are made.

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About BloFin

BloFin is a top-tier cryptocurrency exchange that specializes in futures trading. The platform offers 480+ USDT-M perpetual pairs, spot trading, copy trading, API access, unified account management, and advanced sub-account solutions. Committed to security and compliance, BloFin integrates Fireblocks and Chainalysis to ensure robust asset protection. By partnering with top affiliates, BloFin delivers scalable trading solutions, efficient fund management, and enhanced flexibility for professional traders. ​As the constant sponsor of TOKEN2049, BloFin continues to expand its global presence, reinforcing its position as the place “WHERE WHALES ARE MADE.” For more information, visit BloFin’s official website.

The post BloFin Makes a Grand Statement as Title Sponsor at TOKEN2049 appeared first on BeInCrypto.

The trading platform Ox.fun, associated with Three Arrows founder Su Zhu, allegedly increased the supply of OX tokens from approximately 4 billion to nearly 9.8 billion without making an official announcement. 

Following the collapse of Three Arrows Capital (3AC), Su Zhu faced imprisonment, further fueling concerns about Ox.fun’s credibility. However, subsequent details offer additional context.

Ox.fun Increases Total Supply of OX Tokens

According to posts on X, users accused Ox.fun of discreetly increasing the total supply of OX tokens from around 4 billion to more than 9.8 billion without prior disclosure. Data from Ox.fun’s official dashboard and Etherscan, a reputable blockchain analysis tool, verified this change.

Moreover, according to a December 2024 post from Ox.fun on Twitter, the original OX supply was verified as 4.2 billion.

The supply increase has not yet significantly impacted the price of OX tokens at the time of this writing. However, it has caused the token’s market capitalization to surge from under $5 million to approximately $17 million. In other words, users online said the project quietly inflated its value without any formal announcement.

Many community members argue that increasing the token supply without disclosure indicates opaque behavior. They think it may be a signal for a rug pull.

Users also expressed their frustration over the lack of response initially from the project’s leaders.

“I love how @OXFUNHQ @zhusu continue to be dead silent about doubling the circulating supply of $OX overnight. I sincerely think they were just hoping that simply no one would notice. True regards,” commented an X user.

Ox.fun Claims It Announced OX Supply Surge

Ox.fun finally responded to the accusations, stating that the increase had been previously disclosed. The project explained that the increase in supply to 9.8 billion tokens was announced on April 1, 2025, as part of the “Ox Seasons” program. According to Ox.fun, Ox Seasons was announced through all social media platforms.

“Importantly, the tokens are locked in the OX treasury multisig (0x4B214e2a2a9716bfF0C20EbDA912B13c7a184E23) and will only be distributed to users at the end of the Seasons program, exactly as outlined in our docs.” stated Ox.fun

The team emphasized that this move, by disabling the smart contract’s mint function, was intended to ensure transparency and prevent future token minting.

However, the community remains skeptical due to the delayed communication, questioning whether Ox.fun has been as transparent as it claims.

The community’s skepticism persists, given Su Zhu’s reputation in the crypto space has been tarnished since the collapse of Three Arrows Capital (3AC). Additionally, in February 2025, Ox.fun had some issues with JefeDAO. Although the platform later provided explanations, these incidents have raised ongoing concerns about its financial stability.

While the price of OX tokens has not experienced significant fluctuations following this event, smaller trading platforms like Ox.fun are often vulnerable to market sentiment.

The post Su Zhu-Linked Ox.fun Faces Backlash Over Sudden Doubling of OX Token Supply appeared first on BeInCrypto.

There has been a sharp decline in daily active addresses across Smart Contract Platforms (SCPs) in recent months, raising concerns among investors and developers.

Meanwhile, Ethereum’s Pectra Upgrade could be the turning point, with crypto analyst Jamie Coutts calling the current state a cleansing of the ecosystem.

SCPs See Sharp Decline in Active Users

Jamie Coutts, who built Bloomberg Intelligence’s crypto research product, says this is the worst decline ever recorded in the history of SCPs.

He also notes that it is far worse than the 2022-2023 bear market, with daily active addresses dropping 40.5% in just five months.

“This is the largest usage collapse in SCP history,” wrote Coutts.

Coutts’ analysis provides a deeper look at the broader crypto ecosystem, which is simultaneously witnessing an uptick in global liquidity and an all-time high in stablecoin market cap.

While the sector seems to be experiencing a shakeout, Coutts says this decline does not indicate the death of smart contract platforms. Rather, it is a necessary cleansing of the ecosystem.

The analyst attributes the drop in daily active addresses to several key factors, including the rise of artificial activity.

“Much of the past cycle’s growth was artificial: Usage inflated by bots and Sybil farms, Incentive programs created temporary traction without stickiness. The unwind reflects a cleansing of fake activity, not the death of the sector,” Coutts explains.

The rise of bots and Sybil attacks, where bad actors create multiple fake identities to manipulate a platform’s usage metrics, has artificially inflated the activity numbers across various smart contract platforms.

Now, as these fake users are being weeded out, the real growth potential of SCPs is becoming clearer.

Moreover, this trend suggests that SCPs with weak application ecosystems or limited use cases will face significant valuation compression. This is especially true without stablecoin integration or real-world asset (RWA) applications.

Coutts notes that many SCP tokens risk valuation compression if their platforms do not offer high throughput, low-cost, and real settlement capabilities.

The market will likely reward mature platforms capable of supporting real economic activity. These include stablecoin transactions, payments, and AI-native applications.

“…going forward, value will concentrate in platforms that enable high-throughput, low-cost, real settlement and agentic automation,” he added.

Ethereum Staking Surge Post-Pectra

Interestingly, these predictions align with the recent Ethereum Pectra upgrade, which went live on May 7, 2025.

The Pectra upgrade introduces key features that could help Ethereum, the largest smart contract platform, stay ahead in this playing field. Specifically, the upgrade improves Ethereum’s staking model and validator operations.

CryptoQuant recently indicated a notable spike in ETH staking around the Pectra Upgrade news. Specifically, before the Pectra upgrade news, ETH staking saw a net outflow of around 1.02 million ETH, reflecting uncertainty.

However, after the news, staking rebounded with a 627,000 ETH inflow, signaling renewed market confidence in the Ethereum staking ecosystem.

“Before Pectra News (Nov 16 – Feb 15): ETH staking dropped from ≈34.88M to 33.86M ETH, a net outflow of ~1.02M ETH. This period reflects market uncertainty and mild unwinding of staking positions ahead of the upgrade. After Pectra News (Feb 16 – May 16): Total ETH staked rose from 33.78M to 34.41M ETH — a net inflow of ~627K ETH. Indicates renewed confidence in the staking process following the upgrade,” wrote CryptoQuant analyst Kripto Mevsimi.

In the same tone, Bohdan Opryshko, co-founder and COO at Everstake, told BeInCrypto that the Pectra upgrade may be Ethereum’s most institution-friendly update. He says the upgrade is the clearest signal that Ethereum is ready for conservative capital.

“For the first time, institutions can stake at scale with operational clarity and reduced complexity. It’s a green light for conservative capital to get involved in native Ethereum staking,” Opryshko told BeInCrypto.

Further, Pectra’s introduction of smart accounts allows Ethereum wallets to execute smart contract logic. This could drive stablecoin integration.

At the same time, it could enhance scalability. This would make Ethereum better suited to handle real economic activities such as payments and financial transactions.

Nevertheless, Coutts highlighted a divergence between price action and network activity, a common phenomenon in the crypto space. While markets stabilize, activity on many SCPs remains stagnant.

Coutts notes that this divergence will not last. More sophisticated capital will increasingly flow toward platforms that anchor real economic behavior, especially via stablecoin flows and payments.

“Markets may be stabilizing, but activity is not,” More sophisticated capital will increasingly rotate toward chains that anchor real economic behavior, especially via stablecoin flows, payments, and AI-native applications,” Coutts says.

Finally, Coutts predicts that a liquidity-driven rally will return, fueled by the significant liquidity expected to enter the system in the coming months.

However, he cautions that the value will likely accrue to a subset of SCPs that can deliver tangible value through real-world applications and stablecoin integration. This sentiment aligns with the structural upgrades brought by Ethereum’s Pectra fork.

The post User Exodus Hits Smart Contract Platforms—Can Ethereum’s Pectra Upgrade Turn the Tide? appeared first on BeInCrypto.

Ripple’s XRP has gained 3% in the last 24 hours, riding the wave of renewed optimism in the broader cryptocurrency market. 

While the increase may appear modest, underlying technical indicators suggest the XRP token rally has more room to run. This analysis holds the details. 

XRP Clears Key Resistance—Technical Indicators Point to More Upside

XRP has successfully broken above a descending trendline, overcoming a key resistance level that had capped its upside since the end of April. This move signals a trend reversal and puts XRP in a favorable position for further gains.

Readings from XRP’s Relative Strength Index (RSI) support this bullish outlook. At press time, the momentum indicator is at 54.11, noting a steady uptick.

The RSI indicator gauges whether an asset is overbought or oversold. It ranges from 0 to 100, with readings above 70 typically signaling overbought conditions and a potential price decline. Conversely, values below 30 suggest the asset is oversold and may be due for a rebound.

At 54.11 and climbing, XRP’s RSI indicates that buying pressure is strengthening. It also hints at the likelihood of more gains before the token becomes overbought. 

Likewise, XRP’s Balance of Power (BoP) returns a positive value at press time, highlighting the bullish bias toward the altcoin. It currently stands at 0.86.

The BoP indicator measures the strength of buying versus selling pressure in an asset’s market. When it climbs this way, buyers dominate the spot markets. This indicates a potential bullish trend for the XRP token and suggests its upward momentum could continue. 

XRP Bulls Eye $2.50 After Breakout

XRP rests solidly above the descending trend line at $2.21. If demand strengthens and the breakout sees more bullish momentum, it could drive the token’s price past the resistance at $2.29. 

A successful breach of this price level could drive XRP to $2.50. 

However, if buying stalls and XRP’s retest of the breakout line fails, it could fall to $1.99. 

The post XRP Breakout Signals Fresh Bull Run Could be Underway appeared first on BeInCrypto.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee as we discuss the growing influence of stablecoin issuers in the US Treasury market. With growing institutional adoption and regulatory legitimization of US dollar-pegged stablecoins, experts warn of artificial inflation of demand for the dollar. 

Crypto News of the Day: Using Government Debt Instruments To Back Digital Dollars is Risky, Keiser Warns

The influence of stablecoin issuers in the US is growing, so much that Tether, which already issues the USDT stablecoin, plans to launch a US-only stablecoin by 2025. Tether aims to position stablecoins as strategic financial tools under the Trump administration.

This chart shows Tether’s dominance in the stablecoin market, with overall supply going from $2 billion to more than $200 billion in recent years.

Meanwhile, the US Treasury projects stablecoins could reach a $2 trillion market by 2028, which could attract more players.

Nevertheless, as stablecoin influence in the Treasury market grows, the House Financial Services Committee is concerned.

BeInCrypto reported lawmakers questioning US Treasury Secretary Scott  Bessent about Trump-affiliated World Liberty Financial (WLFI) and its new USD1 stablecoin.

Perhaps, however, the greater concern is stablecoin issuers’ using Treasury yields to buy Bitcoin. According to experts, this could undermine US government reserves.

A recent US Crypto News publication indicated reports of stablecoin issuers using Treasury yields to buy Bitcoin. Some say this could undermine initiatives like the proposed US Strategic Bitcoin Reserve, which aims to bolster national holdings of the pioneer crypto.

Growing Influence of Stablecoin Issuers in US Treasuries Market is Concerning, Max Keiser Says

Among them is Bitcoin pioneer Max Keiser, who voiced concerns over the growing influence of stablecoin issuers in the US Treasury market. Keiser warns that their use of government debt instruments to back digital dollars may have broader implications for the global financial system.

As of Q1 2025, Tether reported holding nearly $120 billion in short-term US Treasury securities and reverse repos. This makes it one of the largest non-sovereign holders of American government debt.

Meanwhile, Circle, issuer of USDC, disclosed more than $22 billion in Treasury bills in a February 2025 attestation.

These holdings collateralize dollar-pegged stablecoins, helping issuers maintain liquidity and trust. The issuers benefit from the interest income generated by the bonds.

While this practice is common and legal, Keiser contends it contributes to deeper systemic issues tied to fiat currency dynamics.

“This is exactly why the stablecoin issuers are buying Bitcoin, this is called a speculative attack on the US dollar. Feeding the debt spiral with fiat stablecoins, buying treasury bills, and then investing the interest into Bitcoin, allowing the stablecoin issuers to buy billions in Bitcoin for free,” Keiser told BeInCrypto.

Stablecoin issuers purchase US debt on secondary markets and earn interest, which they may or may not deploy into digital assets like Bitcoin. Keiser is critical of the broader financial architecture underpinning stablecoins.

“Issuing new stablecoins backed by US T-bills printed out of thin air is not a monetary system, but a financial hologram,” he said.

US Treasury bills are debt instruments issued by the federal government and sold to investors, including private companies like Tether and Circle, through regulated markets. These stablecoin issuers tokenize existing fiat currency held in reserve.

Keiser elaborated on what he sees as the long-term consequences of this model.

“It’s a speculative attack by private banks. It is financial repression, pushing rates down as ‘malinvestments’ increase. It is rinse and repeat,” he explained.

His critique also extends to the broader outlook for the US dollar, which, according to the Bitcoin pioneer, “is a quick, deadly fix; a USD hospice. Cue the final death throes of the US dollar.”

BeInCrypto has contacted Circle and Tether for comment and will update this article if they respond.

Max Keiser Proposes AI To Invent Novel Security Structures

Keiser also highlighted what he views as an emerging trend. He said high-profile investors and technologists use artificial intelligence (AI) and novel corporate strategies to increase Bitcoin exposure.

The Bitcoin maxi referenced Strategy Executive Chair Michael Saylor and investor-turned-politician Vivek Ramaswamy.

“Financial engineers like Michael Saylor and Vivek Ramaswamy are using AI to invent novel security structures to maximize the Bitcoin Treasury model. Vivek Ramaswamy plans to take his company, Strive Asset Management, public by merging with Asset Entities and starting to accumulate Bitcoin using the model that Saylor’s Strategy has already successfully adopted — using proceeds from stock and debt issuance,” Keiser remarked.

Though no confirmed public filings detailing Ramaswamy’s use of AI in this context, Keiser sees these developments as significant.

“The results are redefining finance globally and adding significantly to the Bitcoin demand. OG’s like myself, who have watched Bitcoin outperform everything for 15 years, are seeing, for the first time, investment strategies that are outperforming Bitcoin, and the implications are profound,” he said

Keiser believes such strategies could push Bitcoin’s market value even higher. He also implied that the extraordinary compounding rates of the past could be extended. This sentiment comes as Bitcoin captures more of the total addressable market and scales even higher price points.

 The views expressed are those of Max Keiser and do not necessarily reflect the opinions of BeInCrypto.

Chart of the Day

This chart shows that stablecoins have become a large holder in US treasuries.

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Bitcoin faces heightened volatility as US-China trade talks in Switzerland risk failing, potentially triggering sharp price swings.
• OCC confirms banks can buy, sell, and hold crypto assets at customer request. Services include trade execution, recordkeeping, valuation, and tax reporting.
• Standard Chartered predicts Bitcoin could surpass its all-time high soon, driven by surging ETF inflows and capital movement.
• Bitcoin has seen over $1 billion in daily inflows, signaling strong demand and potentially paving the way for a price surge toward $105,000.
• Bitcoin spot ETFs saw major inflows and outflows this week, driven by investor reactions to macroeconomic shifts and the Fed’s rate decision.
• Solana launchpad Pump.fun surged past Tron with $2 million in daily revenue, ranking third globally behind only Tether and Circle, per DefiLlama.
• Ethereum’s Pectra upgrade has triggered a surge in network activity, lowering the circulating supply to an 18-day low of 120.69 million ETH.

Crypto Equities Pre-Market Overview

Company	At the Close of May 7	Pre-Market Overview
Strategy (MSTR)	$392.48	$411.52 (+4.85%)
Coinbase Global (COIN)	$196.56	$205.16 (+4.38%)
Galaxy Digital Holdings (GLXY.TO)	$26.49	$27.09 (+2.28%)
MARA Holdings (MARA)	$13.33	$14.01 (+5.10%)
Riot Platforms (RIOT)	$7.84	$8.24 (+5.10%)
Core Scientific (CORZ)	$8.90	$9.35 (+5.06%)

The post Stablecoin Issuers Using US Treasuries to Buy Bitcoin For Free, Max Keiser Claims | US Crypto News appeared first on BeInCrypto.