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The week was notably bullish for the crypto market, with Bitcoin (BTC) reaching record highs of $111,980 and more optimistic predictions emerging. US states’ investment trends and regulatory developments dominated the spotlight, while Pi Network’s price surge also drew attention.
The following is a roundup of some of the most important developments in the crypto market this week.
14 US States Disclose $632 Million Stake in MSTR
One of the most notable developments this week in crypto was the revelation of US states’ $632 million holdings in Strategy’s MSTR stock. BeInCrypto reported that in Q1 2025, the holdings increased by an average of 42%.
“14 US states have reported $632 million in MSTR exposure for Q1, in public retirement and treasury funds. A collective increase of $302 million in one quarter,” Bitcoin Laws founder Julian Fahrer posted.
US State MSTR Stock Holdings. Source: Data Curated by BeInCrypto
California, through its state teachers and public retirement fund, led the pack with $276 million in MSTR shares, followed by Florida, North Carolina, and New Jersey. Despite a recent veto on a Bitcoin reserve bill, Arizona also increased its MSTR holdings.
Other states like Utah and Colorado showed substantial growth in MSTR investments, with the former’s holdings growing by 184% in the last quarter. On the other hand, while boosting its MSTR position by 26%, the Wisconsin Investment Board sold off its entire $300 million stake in BlackRock’s Bitcoin ETF.
Pi Network has been widely discussed since its open network launch in late February 2025. This week, Pi Coin (PI) dominated headlines due to its 11% price appreciation. BeInCrypto highlighted that the catalyst behind this uptick was an 86 million withdrawal from the OKX exchange.
This reduced OKX’s PI token balance to just 21 million. This mass movement suggested investors were holding rather than selling. This bullish signal is often associated with confidence in future price appreciation.
“This isn’t just a withdrawal—it’s a POWER MOVE by the Pi community. Scarcity is kicking in, and the market is feeling the heat!” a Pioneer posted on X.
Nonetheless, the high was fleeting. After the rise, more declines followed. Over the past day alone, Pi Coin’s value depreciated by 4.7%.
Along with its underwhelming price performance, Pi Network has faced significant criticism due to its inability to secure a listing on major exchanges like Binance or Coinbase. Concerns regarding its lack of recognition on price tracking platforms, token distribution, node centralization, and migration challenges further add to the growing list of issues.
Blum Co-Founder Vladimir Smerkis Arrested in Moscow
Another crypto-related incident this week involved the co-founder of the Telegram-based crypto project Blum. On May 18, the Zamoskvoretsky District Court in Moscow arrested Vladimir Smerkis, who previously managed Binance’s operations in Russia. Smerkis allegedly committed ‘large-scale fraud.’
“The Zamoskvoretsky District Court granted the investigator’s petition for the preventive measure of detention for Vladimir Smerkis, who was arrested in connection with a case of large-scale fraud (Article 159 of the Criminal Code of the Russian Federation),” local media reported.
In response to the arrest, Blum quickly distanced itself from Smerkis and his involvement in the project.
“We would like to inform our community that Vladimir Smerkis has stepped down from his role as CMO and is no longer involved in the development of the project or in any co-founder capacity,” Blum’s official statement read.
Fred Krueger Predicts Bitcoin Could Reach $600,000 by October 2025
This week in crypto, Bitcoin took center stage with its impressive rally. BeInCrypto was the first to report that Bitcoin reclaimed its all-time high of $108,900 after four months. However, the rally didn’t stop there, as the price continued to climb.
Yesterday, BTC peaked at a new record of $111,980, a high yet to be surpassed. Yet, analysts are increasingly optimistic about Bitcoin’s prospects moving forward.
Mathematician and analyst Fred Krueger predicted that Bitcoin’s price could surge to $600,000 by October 2025. His forecast hinges on a series of speculative developments that will begin on July 21, with BTC priced at $150,000.
“THE FINAL RUN: BITCOIN TO $600,000. Timeframe: 90 days — from Monday, July 21, 2025. Starting BTC: $150,000, Ending BTC: $600,000. Final Gold: $10,400. DXY: Collapses from 96 → 68. US 10Y Yield: Spikes to 9.2% before being “frozen” by the Fed. SPX: Collapses 50%,” Krueger stated.
The supposed catalysts for Bitcoin’s rise to $600,000 include a failed US Treasury auction, BRICS nations launching a Bitcoin-backed payment system, countries shifting reserves to Bitcoin, rising Treasury yields, a collapse in US real estate, tech companies adopting Bitcoin, and a potential restructuring of the US dollar at an October summit.
The bill, which aims to create a state-level Bitcoin Reserve, now only requires Governor Abbott’s signature to be finalized. Notably, as BeInCrypto pointed out, Governor Abbott is pro-crypto.
In fact, he posted an article about the Texas Strategic Bitcoin Reserve on his X account today, which signals a likely approval.
“It’s happening. Texas Governor, Greg Abbott, will sign Texas’ Bitcoin Reserve into law. One of the richest states will be buying Bitcoin. Get ready!!!” crypto commentator Kyle Chassé remarked.
With the Texas Senate session ending on June 2, Governor Abbott has until then to make a decision. If signed into law, Texas will become the second US state to establish its own Bitcoin Reserve, following New Hampshire.
Bitcoin remains strong in the market and institutional interest as Ethereum keeps rising which strengthens the cryptocurrency industry potential. These developments are setting the stage for a potential market rally. Ethereum-based projects could benefit, and one ERC-20 altcoin under $0.30 is gaining attention. Rexas Finance (RXS), a token focused on real-world asset tokenization, may rise if Bitcoin and Ethereum prices continue upward.
Bitcoin and Ethereum Fuel Institutional Confidence
Bitcoin continues to hold a dominant position in the crypto market. It has remained above key support levels as more institutions recognize it as a digital store of value. The asset’s limited supply of 21 million coins has attracted long-term holders and hedge funds seeking a hedge against inflation. Ethereum is also gaining traction among large financial firms. BlackRock’s recent launch of its Ethereum-based BUIDL fund and its reported holdings of over 1.1 billion ETH have increased confidence in Ethereum’s role in blockchain finance. Analysts suggest Ethereum could reach $9,000 or more, especially if spot Ether ETFs are approved.
Rexas Finance (RXS) Sees Growth Ahead of Launch
Rexas Finance is built on Ethereum and aims to bring real-world assets onto the blockchain. Real estate along with gold and intellectual property are turnable into digital tokens through tokenization and trading on the blockchain platform. This model increases access to traditionally hard-to-reach investment sectors.
Milestone Alert!
Rexas Finance has successfully raised $47.6 Million!
The RXS token is currently priced at $0.20 in the final presale stage. It is expected to launch at $0.25 on June 19, 2025. Over 458 million tokens have been sold during the presale, raising more than $47 million from individual investors. The project has not taken venture capital funding, which helps maintain community control.
Security, Utility, and Exchange Plans Build Trust
Rexas Finance implements various measures to boost its reputation position. The platform has completed a Certik audit, which confirms that its smart contracts meet strong security standards. The platform appears on two prominent exchanges CoinMarketCap and CoinGecko because such listings provide better transparency to investors who wish to track transactions.
The platform offers tools such as the Token Builder and QuickMint Bot. These allow users to create asset-backed tokens without coding knowledge. The ecosystem also includes AI Shield, which uses artificial intelligence to monitor contracts and detect possible risks or fraud. These features are designed to improve safety and simplify use.
Deflationary Model and Presale Activity Support Momentum
RXS follows a deflationary token model, which may reduce the total supply over time. This could support long-term value as demand increases. The final presale phase offers the token at a lower price before its launch on three confirmed cryptocurrency exchanges.
More than 455 million tokens were purchased during the presale stages. A $1 million giveaway campaign is also underway, which includes rewards for 20 winners. One investor reportedly bought 500,000 RXS tokens, equal to $100,000, during this period. This signals growing interest from larger investors in the token’s potential.
Conclusion
An upward market trend might emerge because Bitcoin maintains its performance stability while Ethereum attracts more institutional investors. Ethereum-based tokens like Rexas Finance (RXS) are positioned to gain attention as blockchain adoption grows. With a token price below $0.30, security audits, and upcoming exchange listings, RXS is one altcoin to monitor closely as the market prepares for its next upward move.
The post Bitcoin (BTC) and Ethereum’s (ETH) Next Jump Could Drive a Strong Rally for This Altcoin Below $0.30 appeared first on Coinpedia Fintech News
Bitcoin remains strong in the market and institutional interest as Ethereum keeps rising which strengthens the cryptocurrency industry potential. These developments are setting the stage for a potential market rally. Ethereum-based projects could benefit, and one ERC-20 altcoin under $0.30 is gaining attention. Rexas Finance (RXS), a token focused on real-world asset tokenization, may rise …
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