Dear PointPay Family,
Seven days have passed, and what a week it's been! Many events, news, and changes occurred in the cryptosphere, and you definitely don't want to miss them. We have selected the top five news stories of the week and presented them in a convenient TL;DR format just for you.
Bitcoin Climbs to Global Top 5 as Market Value Soars
In just 15 years, Bitcoin has secured a place among the five most valuable assets in the world, surpassing Amazon in market capitalization. This milestone follows a new all-time high, reinforcing Bitcoin's role not just as a digital currency but as a major financial force in the global economy.
GMX Hacker Returns $42M After Reaching $5M Bounty Agreement
A recent $42 million exploit on GMX has taken an unexpected turn. The attacker, initially responsible for draining funds from the protocol's Arbitrum-based liquidity pool, has opted to return the stolen assets. In exchange, GMX granted a $5 million bounty. The funds are now secured, and a proposal for redistributing the assets is underway through the GMX DAO.
Bitcoin Hits $123K, Weekly Gains Near 10%
Bitcoin continues its upward trend, setting a new record of $123,000 over the weekend. The price rally, fueled in part by renewed institutional interest and strong trading volumes, pushed the cryptocurrency's market cap to $2.4 trillion. Analysts also point to MicroStrategy's recent activity as a catalyst for the surge.
Tether Supply Hits $160B as $2B Mint Signals Growing Market Demand
Tether has reached a new supply milestone, minting $2 billion in USDT on Ethereum and pushing its total issuance past $160 billion. The fresh mint, mostly intended for future use and blockchain swaps, reflects heightened market activity following Bitcoin's recent price rally. A substantial portion of the new tokens was sent to Binance, indicating rising liquidity needs across exchanges.
Crypto Legislation Advances After Historic House Vote
A landmark vote in the US House of Representatives has cleared the way for progress on three major crypto regulation bills. After hours of internal debate and political bargaining, lawmakers approved the rules for moving the legislation forward. The vote also set a modern record for the longest open session in House history, underlining the growing complexity of digital asset regulation in Washington.
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