Between Hacks and Positive Bitcoin ETFs, the Crypto News of the Week

The crypto world never sleeps, and even on this 13th of May, the sector continues to buzz with news. From positive signals on the institutional investment front to persistent security challenges, not to mention expected regulatory developments and speculative maneuvers, there’s no shortage of activity to keep track of.

This week, we saw Bitcoin (BTC) ETFs recording a total net inflow of 334.58 million US dollars yesterday (May 12, Eastern Time), marking a third consecutive day of net inflows.

This positive trend continues to highlight investors’ interest in these products, providing regulated exposure to Bitcoin.

Chart: On-Chain Center

Bitcoin ETF Cumulative Inflows Reach All-Time HighInterest in #Bitcoin continues to grow, as shown not only by on-chain metrics but also by record-breaking inflows into spot BTC ETFs.

Despite a recent surge in BTC price, which could indicate strong buying pressure, some market players are preparing for a potential downturn.

One major market player, often termed a “whale,” has again deposited 10 million USDC on the derivative trading platform HyperLiquid.

These funds were reportedly used to increase short positions on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), indicating a bet on an imminent decline in the prices of these major cryptocurrencies.

A whale just moved 13M $USDC to HyperliquidThen went full bear mode — shorting $BTC, $ETH, and $SOL with 5x leverage.Someone’s betting big on a dip.Do they know something we don’t?

The crypto exchange platform Coinbase is set to become the first company primarily focused on cryptocurrencies to join the prestigious stock index S&P 500.

The announcement of this inclusion has caused an 8% increase in its stock price (COIN), marking a significant symbolic milestone for the recognition of the sector by traditional finance.

This integration could also open doors for more direct investment in the crypto sector from large institutional funds that track the S&P 500 index.

The news comes amid a broader narrative of converging trends between Web3 and traditional finance.

The mayor of New York, Eric Adams, has once again affirmed the long-term value of cryptocurrency technology.

In this regard, he announced the promotion of the city’s first summit dedicated to cryptocurrencies, confirming New York’s ambition to position itself as an innovation hub in this field.

This summit aims to bring together key figures from the government, industry, and the academic world to discuss the latest developments, trends, and opportunities within the cryptocurrency and blockchain ecosystem.

The event is expected to attract significant attention from both national and international participants, further strengthening New York’s position as a global center for cryptocurrency and Web3.

The topics to be covered during the summit remain undisclosed at this stage. However, given the mayor’s enthusiasm for crypto and the city’s active role in promoting Web3, the agenda could include topics such as:

DeFi and its impact on traditional finance.The role of stablecoins in the financial system.NFTs and their potential in art, music, and other industries.Crypto regulation and legislation in the US and around the world.The future of Web3 and its implications for society.

This summit represents a unique opportunity to engage in insightful conversations about the transformative potential of cryptocurrency technology and its ability to drive economic growth and create new jobs in the city of New York.

As BTC rises, speculative assets attract more liquidity. With a dinner offered to the largest holders of the TRUMP token scheduled for May 22, speculations are rife about this memecoin that continues to stir discussions.

TRUMP Tokens: Strong Concentration Around a Presidential Dinner

An analysis of cryptocurrency wallets reveals that the top 220 holders of TRUMP tokens, recently invited for dinner with the former American president, collectively hold a value of around 174 million US dollars.

This concentration underscores the often speculative nature and the influence of political events on certain segments of the memecoin market.

Memecoin Volatility: Significant Loss on TRUMP Token

Highlighting the inherent risks of memecoins, a “whale” reportedly lost a substantial amount of 453,000 US dollars in just three days trading the TRUMP token. This episode serves as a reminder of the highly speculative and volatile nature of these digital assets.

Few people have been able to make money on $TRUMP recently.Today, 2 more whales sold all $TRUMP at a loss.3hA7ex sold 276,968 $TRUMP($3.54M) at a loss of $454K.DyzM5w sold 228,414 $TRUMP($2.92M) at a loss of $42K.https://t.co/DO98ovJhTAhttps://t.co/DG97