Your Weekend Crypto Roundup | May 2025 (Week 4)

Contents

Hi there!

Week 4 wraps up with plenty of action in the crypto world—and you won’t want to miss it. From a landmark fraud conviction shaking the DeFi world to major moves by regulators across the globe, this week’s crypto news is packed with drama, crackdowns, and critical developments. Whether you’re tracking SafeMoon’s fall, malware takedowns, or emerging legislations, there’s something you shouldn’t miss. Stay informed always by clicking the subscribe button to get our newsletter straight to your inbox every week!

Biggest Story

SafeMoon CEO Found Guilty in Major Crypto Fraud Case

John Karony, CEO of SafeMoon, has been convicted by a U.S. federal court for orchestrating a multimillion-dollar fraud involving the SafeMoon token. Karony, along with other executives, promised investors that funds would be locked and used for development, but diverted large sums for personal luxury purchases. The court found him guilty of securities fraud, wire fraud, and money laundering conspiracy—charges that could lead to a 45-year prison sentence. Sentencing is set for later this year.

The case, one of the most significant in DeFi history, underscores growing concerns about fraud in the crypto space. SafeMoon rose to popularity in 2021 due to marketing hype and promises of high returns, but soon drew regulatory attention after complaints of price crashes and lack of transparency. The token’s value has since plummeted, and investors are demanding restitution. Former CTO Thomas Smith also pleaded guilty to related charges, further reinforcing the need for stricter oversight in the crypto industry.

Other News Making Waves

Authorities dismantle multiple domains linked to LUMMAc2, a seed phrase-stealing malware that targeted crypto users globally and led to significant losses. (More)
The 2020 Coinbase hacker taunts crypto sleuth ZachXBT by sending him 1 BTC after moving $42M in stolen Bitcoin, reigniting concerns about laundering tactics. This follows a past breach exploiting Coinbase’s SMS 2FA system, affecting thousands of users. (More)
Hailey Welch, aka the “Hawk tuah girl,” was investigated by the FBI over a failed memecoin launch but was cleared of wrongdoing after cooperating fully. (More)
Vitalik Buterin praises Succinct Labs’ zkVM proving demo while highlighting challenges in security, energy use, and formal verification. He also confirmed Ethereum’s goal to raise the Layer 1 gas limit by up to 100x for scalability. (More)
Genesis sues DCG and CEO Barry Silbert over $1 billion in allegedly fraudulent transfers, accusing them of self-dealing and draining assets while Genesis was insolvent. (More)
Coinbase faces a DOJ probe after Indian-based support agents allegedly accepted bribes, exposing user data used in a $400M fraud scheme. The exchange rebuffed a $20 million extortion attempt and now supports criminal prosecution of those involved. (More)
Australian authorities seize $2.88 million in Bitcoin, luxury assets, and property from a man tied to crypto crimes dating back to 2013. (More)
Telegram’s Pavel Durov rejects EU censorship demands during Romania’s elections, decrying France’s alleged pressure to silence conservative voices. Durov’s stand follows his controversial 2024 arrest in France, sparking free speech debates. (More)
Kidnapping attempts against crypto figures spark security crackdowns in France, following high-profile abductions and attempted assaults. Officials urge discretion and pledge stronger protection for crypto entrepreneurs and their families. (More)

Around the World: Bold Moves and Crypto Regulations

Michigan proposes four crypto bills covering licensing, fraud protection, legal definitions, and blockchain in government. The goal is to foster innovation while ensuring consumer safety. (More)
Pakistan launches the Pakistan Digital Assets Authority (PDAA) to regulate exchanges, DeFi, tokenization, and mining. It’s part of a broader Web3 shift, including mining surplus electricity. (More)
Hong Kong passes a Stablecoins Bill requiring licenses, reserves, and consumer safeguards for issuers. The law curbs unlicensed promotions and supports Hong Kong’s Web3 push. (More)
South Korea tightens rules for nonprofits and exchanges, mandating audits, real-name accounts, and stricter token oversight. The changes support institutions and a potential won-backed stablecoin. (More)
New York City forms a digital advisory council to explore blockchain innovation, crypto tax payments, and digitized records. (More)
The U.S. Senate advances the GENIUS Act for stablecoin regulation in a 66–32 vote, overcoming prior Democratic resistance linked to Trump’s crypto ties. The bill, championed by Senator Lummis, now moves to formal Senate debate. (More)
South Korea’s opposition leader Lee Jae-myung proposes a won-pegged stablecoin to curb capital flight and strengthen monetary sovereignty. The move follows $40.8B in Q1 outflows and aims to reduce reliance on foreign stablecoins. (More)
SEC Commissioner Caroline Crenshaw warns of weakened crypto oversight, calling the agency’s rollback of protections a “regulatory Jenga” that risks market stability. (More)
The UK will require crypto firms to report detailed customer transactions starting January 2026, aligning with OECD tax standards. Firms must file annual reports or face fines up to £300 per user for noncompliance. (More)
President Trump signs the bipartisan DEEPFAKES Accountability Act, criminalizing malicious synthetic media and mandating transparency for AI-generated content. The law targets online exploitation, election interference, and digital deception. (More)

Market Trends: Winners and Losers

Top 5 Gainers 📈

According to data from CoinGecko, these are the five biggest gainers of the week:

Efinity +499.11%, from $0.178589 to $1.070000
Spring Staked SUI +2.05%, from $3.90 to $3.98
Moonpig +133.97%, from $0.02314535 to $0.05414700
Guild of Guardians +28.61%, from $0.01896315 to $0.02439300
pSTAKE Finance +383.09%, from $0.01919891 to $0.09270600

Top 5 Losers 📉

According to data from CoinGecko, the five biggest losers of the week are:

Hot Mom -49.88%, from $0.07922100 to $0.03970035
APF Coin -45.77%, from $0.65450800 to $0.35499000
Xterio -33.89%, from $0.35474200 to $0.23451000
NEM -30.63%, from $0.01852961 to $0.01285218
Supra -23.54%, from $0.00651148 to $0.00498022

Project Spotlight

Anza Unveils Alpenglow to Supercharge Solana’s Consensus
Anza, a spinout from Solana Labs, has launched Alpenglow, a breakthrough proof-of-stake consensus protocol designed to drastically boost transaction finality and network speed. Featuring Votor and Rotor, Alpenglow replaces Solana’s TowerBFT and PoH systems to achieve median finality in just 150ms—rivalling traditional Web2 infrastructure. The innovation could unlock real-time blockchain applications previously hindered by latency. While not a full fix for outages, it sets the stage for stronger performance alongside future upgrades like the Firedancer client.

Why It Matters:
Alpenglow represents a critical leap toward ultra-fast, Web2-competitive blockchain infrastructure, enabling the next wave of real-time decentralized applications.

Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.

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