Decentral Block Post

Elon Musk’s artificial intelligence company xAI has partnered with Telegram to integrate its AI chatbot Grok across the messaging platform, according to Telegram CEO Pavel Durov.

Telegram and xAI have agreed to a one-year partnership to distribute Grok to a billion Telegram users and integrate it into its apps, Durov announced on X on May 28.

As part of the agreement, Telegram will receive $300 million in cash and equity from Musk’s AI company, in addition to 50% of revenue from xAI subscriptions sold via Telegram, the CEO noted.

“This summer, Telegram users will gain access to the best AI technology on the market,” Durov said in a post on his Telegram channel.

Grok integration begins with Telegram

According to a promo video accompanying Durov’s announcement, the partnership is expected to bring a wide rollout of Grok features within the messenger.

Metalayer Ventures, a crypto-focused venture capital firm led by former executives from Chainlink and Two Sigma, has launched a $25 million fund to invest in early-stage blockchain projects with a focus on stablecoins, tokenization and cryptocurrency infrastructure. 

Metalayer’s fund has already backed seven companies, the company disclosed to Cointelegraph on May 28. These include AnchorZero, a platform helping crypto founders use Roth IRAs for tax advantages, and Spark Capital, a new venture focused on stablecoin infrastructure.

Other portfolio companies include Ethena, ClearToken, Crossover Markets, Station70 and Theo — an onchain trading infrastructure project that recently raised $20 million from 17 different VC firms.

The company plans to eventually back up to 30 companies with early-stage rounds ranging from $500,000 to $1 million.

Metalayer was co-founded by Chainlink Labs’ former head of growth, Mickey Graham, and former Two Sigma executives Andy Kangpan and David Winton.

Key takeaways:

XRP’s falling wedge pattern signals a bullish reversal; 48% price surge potential.

SEC’s review of WisdomTree’s XRP ETF may spark investor interest as approval odds jump to 84% on Polymarket. 

XRP price is forming a falling wedge pattern on the daily chart, a technical chart formation associated with strong bullish momentum following an upward breakout. Could this technical setup, coupled with the SEC’s review of a spot XRP ETF application by WisdomTree, signal the start of a rally to $3.40 and higher?

XRP falling wedge pattern targets $3.40

From a technical perspective, XRP (XRP) price could gain significant momentum if it breaks out of this falling wedge pattern.

GameStop, the US video game and consumer electronics retailer, has confirmed its first Bitcoin investment, acquiring 4,710 Bitcoin, according to a statement posted May 28 on the company’s X account.

The company did not specify how much it paid for the Bitcoin (BTC) or when the purchases were made in the announcement, while its Form 8-K filing with the US Securities and Exchange Commission also offers little detail. The amount purchased was worth around $513 million at the time of writing.

The announced acquisition is GameStop's first publicly acknowledged Bitcoin purchase since the company disclosed plans to move into Bitcoin investment in March.

At the time, GameStop said it would fund the Bitcoin purchase through debt financing and launched a $1.3 billion convertible notes offering.

The news comes after months of speculation that GameStop was exploring alternative assets, including cryptocurrencies.

The Open Network Foundation (TON Foundation) appointed former Visa executive Nikola Plecas as its new vice president of payments.

Plecas will be responsible for shaping and executing TON’s payment infrastructure strategy, the company said in a May 28 blog post.

He is tasked with expanding the network’s capabilities, managing financial partnerships and ensuring compliance across jurisdictions as the foundation scales services for over 1 billion Telegram users.

“Joining TON Foundation represents an incredible opportunity to shape the future of payments on a truly global scale,” Plecas said.

Related: How to use tsUSDe on TON for yield-generating dollar savings

Swiss crypto bank Amina Bank, formerly Seba Bank, reported record financial results for 2024, with revenue climbing 69% year-over-year to $40.4 million.

The bank also saw its assets under management (AUM) rise by 136% to $4.2 billion, driven by institutional demand and strategic expansion, according to a May 28 news release.

The Zurich-based bank credited the growth to its multi-jurisdictional footprint, 24/7 trading capabilities and a lending book that has maintained zero defaults over five years.

“I’m incredibly proud of our team’s tenacity and focus, which led to quarterly profitability in Q4 2024, a pivotal milestone that confirms the value of our approach,” CEO Franz Bergmueller said.

Related: Bitcoin Suisse eyes UAE expansion with regulatory nod in Abu Dhabi

BlackRock, one of the world’s largest Bitcoin holders, is reportedly participating in a bond raise by crypto-friendly messenger Telegram.

Telegram is expected to raise at least $1.5 billion in a bond issue on May 28, with support from existing backers like BlackRock and Abu Dhabi’s investment firm Mubadala, The Wall Street Journal reported.

As part of the sale, Telegram is offering investors five-year bonds at a 9% yield, the report said, citing sources familiar with the matter.

Telegram plans to use the proceeds to buy back remaining debt from bonds issued in 2021, which are due to mature in March 2026.

Discounts for potential Telegram IPO

Apart from existing Telegram bondholders like BlackRock and Mubadala, the sale is also expected to bring new investors, including the US hedge fund firm Citadel.

Ripple, the blockchain company behind XRP, argued that fungible cryptocurrencies are not securities when transferred in secondary transactions in a recent letter sent to the US Securities and Exchange Commission (SEC).

In its May 27 letter, Ripple cited US attorney and crypto law thought leader Lewis Cohen to support its claim. In his widely cited 2022 paper, “The Ineluctable Modality of Securities Law: Why Fungible Crypto Assets Are Not Securities,” he wrote:

“[T]here is no current basis in the law relating to ‘investment contracts’ to classify most fungible crypto assets as ‘securities’ when transferred in secondary transactions.”

In his paper, Cohen explained that in secondary transactions, an investment contract transaction is generally not present. He further claimed that fungible cryptocurrencies “neither create nor represent the necessary cognizable legal relationship between” a legal entity and the holder that is the “hallmark of a security.”

Related: Banking groups ask SEC to drop cybersecurity incident disclosure rule

Key points:

Bitcoin whales are adding to their BTC positions while price ranges below all-time highs.

If a new market correction comes, one potential bounce level lies in the mid-$90,000 zone.

Hyperliquid trader James Wynn hints at large-volume traders shaping low-timeframe price performance.

Bitcoin (BTC) may see support only at $94,000 if a fresh BTC price correction ensues, new analysis says.

Sui-based decentralized exchange Cetus may be one step closer to recovering funds lost in a recent exploit, pending the outcome of a community governance vote scheduled to end June 3.

Cetus was exploited for over $220 million worth of digital assets on May 22. Shortly after the incident, Cetus managed to freeze $162 million of the funds.

In a May 27 post on X, Sui said Cetus had requested a community vote to approve the recovery of the frozen funds.

“If the community vote is approved, the funds will be recovered from the attacker and held in a multisig trust account until they can be returned to accounts that had positions in Cetus,” the post said.

The vote is part of a broader recovery plan that includes using Cetus’s treasury and securing an emergency loan from the Sui Foundation.

Japanese investment company Metaplanet is raising $50 million through a private placement of zero-interest bonds as part of its strategy to increase its Bitcoin exposure. 

In a May 28 announcement, the company said it was raising $50 million through bonds. The bonds are issued in $1.25 million denominations and carry no interest. Investors will not receive regular payments, with any potential profit expected to come from the bonds’ redemption value.

Evo Fund, a Cayman Islands-based investment firm, will be the sole bondholder. The investment company has been Metaplanet’s primary backer for its Bitcoin acquisition strategy, subscribing to multiple rounds of Metaplanet’s zero-interest bonds, providing capital for its Bitcoin (BTC) buys.

The bonds are unsecured and not guaranteed, with neither a bond administrator nor collateral. This reflects the high degree of trust between the two companies. It also shows confidence in BTC’s long-term outlook as Metaplanet continues to increase its holdings. 

Metaplanet expects minimal impact on 2025 results

Metaplanet said it expects the issuance to have minimal impact on its 2025 financial results, though it will disclose further developments if needed.

A crypto trader has pushed back against claims that altcoin season is already over, arguing that it hasn’t even started yet, as many tokens are still near their local price bottoms.

“I don’t understand why people start claiming that a bear market is around the corner,” MN Trading Capital founder Michaël van de Poppe said in a May 28 X post.

Calls for altcoin season mount

“They are literally on the bottom,” van de Poppe added before stating that the “final easy 12-24 months are coming.” While many altcoins have posted gains over the past 30 days, they remain below their levels from the market uptrend until US President Donald Trump’s inauguration in January.

Solana (SOL) posted 17.84% gains over the past 30 days, trading at $175.17, but is still down 32% since Jan. 19, according to CoinMarketCap. Meanwhile, XRP (XRP) posted gains of 1.98%, trading at $2.31, but is still down 29.35% since Jan. 19.

Van de Poppe’s claim comes after Bitcoin (BTC) traders have recently been calling for a pullback after it reached its $111,970 all-time high and seven green weekly candles. 

White House AI and crypto czar David Sacks says the US could buy more Bitcoin if the government can fund the purchase in a “budget-neutral” way without a tax or adding to the growing national debt.

Sacks told Gemini co-founders Cameron and Tyler Winklevoss during a May 27 fireside chat at the Bitcoin 2025 conference that while he “can’t promise anything,” a pathway does exist for the government to buy more Bitcoin (BTC).

However, it would require convincing Commerce Secretary Howard Lutnick or Treasury Secretary Scott Besson to OK the buy and fund it “without a new tax or adding to the debt,” Sacks said, adding that “maybe by finding the money from some other program that’s not using it — then we could potentially acquire more Bitcoin.”

“The question is, can we get either the Treasury Department or the Commerce Department to get excited about that because if they do and they can figure out how to fund it, they actually do have presidential authorization,” Sacks said.

US can buy Bitcoin if it doesn’t sting budget 

The March 6 executive order authorizing the creation of a crypto reserve states it will hold any Bitcoin forfeited as part of criminal or civil asset forfeiture.

Australia’s markets regulator has filed civil proceedings against Liang “Allan” Guo, the former director of Blockchain Global. 

Guo will face the court on “allegations relating to multiple breaches of his directors’ duties,” the Australian Securities and Investments Commission said in a May 28 press release.

ASIC alleged Guo made multiple breaches of directors’ duties relating to his dealings with ACX Exchange customer funds, and claimed he made false and misleading statements about those dealings and failed to maintain proper books and records. 

The now-liquidated Blockchain Global operated the ACX Exchange from mid-2016 until December 2019, when it collapsed as customers could no longer withdraw their assets. 

During liquidator’s examinations in 2022, the courts were told that ACX exchange took the cash invested by its customers to buy crypto and mingled the funds into one pooled fund, the Sydney Morning Herald reported at the time. 

A crypto trader has pushed back against claims that altcoin season is already over, arguing that it hasn’t even started yet, as many tokens are still near their local price bottoms.

“I don’t understand why people start claiming that a bear market is around the corner,” MN Trading Capital founder Michaël van de Poppe said in a May 28 X post.

Calls for altcoin season mount

“They are literally on the bottom,” van de Poppe added before stating that the “final easy 12-24 months are coming.” While many altcoins have posted gains over the past 30 days, they remain below their levels from the market uptrend until US President Donald Trump’s inauguration in January.

Solana (SOL) posted 17.84% gains over the past 30 days, trading at $175.17, but is still down 32% since Jan. 19, according to CoinMarketCap. Meanwhile, XRP (XRP) posted gains of 1.98%, trading at $2.31, but is still down 29.35% since Jan. 19.

Van de Poppe’s claim comes after Bitcoin (BTC) traders have recently been calling for a pullback after it reached its $111,970 all-time high and seven green weekly candles. 

The International Monetary Fund said it has reached an agreement with El Salvador to pay the country $120 million following an initial review of its $1.4 billion loan agreement struck last year.

The IMF said on May 27 that as part of the deal, El Salvador will need to fulfill its prior obligations around limiting further government involvement in Bitcoin (BTC), and it will have to cease its involvement in the Chivo wallet by the end of July.

“On Bitcoin, efforts will continue to ensure that the total amount of Bitcoin held across all government-owned wallets remains unchanged,” the global lender said.

The planned payout, subject to IMF executive board approval, is part of a larger $1.4 billion, 40-month loan deal struck in December, which saw El Salvador agree to confine its Bitcoin ambitions.

On March 3, the IMF reiterated its stance that El Salvador should stop accumulating Bitcoin and not pursue other Bitcoin-related activities.

Outgoing US Commodity Futures Trading Commission commissioner Christy Goldsmith Romero says the exodus of the agency’s top brass is “not a great situation” for crypto regulations.

The CFTC could be headed by just one commissioner once the other four depart later this year, which Goldsmith Romero said in a May 27 interview at the Brookings Institution will make creating regulations harder because it leaves a less diverse pool of opinions. 

“I think it’s not a great situation if you have one person who’s determining what the rules should be; you lose the benefit of this back-and-forth, this push-and-pull as to what’s the right thing to do,” she said.

“I’ve always wanted to hear from my fellow commissioners about what makes sense to them, and there are many things that they’ve convinced me of and many things that I’ve convinced them of, so I think it does a disservice to regulation.”

Goldsmith Romero’s last day will be May 31, leaving Commissioner Kristin Johnson as the CFTC’s sole Democrat, who has also announced plans to depart the agency before 2026. 

US President Donald Trump’s pick to chair the Commodity Futures Trading Commission has disclosed millions of dollars worth of assets, along with his various ties to crypto-related organizations.

In paperwork released by the US Office of Government Ethics on May 25, Brian Quintenz disclosed his key positions in crypto and market firms that would directly relate to the CFTC’s regulatory priorities and disclosed assets worth at least $3.4 million, according to a May 27 Bloomberg report. 

Quintenz was a CFTC commissioner from 2017 to 2021 and is currently the global head of crypto policy at Andreessen Horowitz, a position he said he will step down from if the Senate confirms him as CFTC chair. 

He holds an interest in three AH Capital Management investment funds, CNK Fund III, CNK Seed 1 Fund, and CNK IV Fund, plus capital commitments to related general partners. 

He is also a board member of the prediction markets platform Kalshi and owns stock and unvested stock options in the firm, along with stock and vested stock options in the finance and lending brokerage Next Level Derivatives.

US Representative Bryan Steil wants lawmakers to stop adding “non-germane items” into two key crypto bills, claiming that doing so is slowing the implementation of a regulatory framework for the industry.

“Individuals, when they see legislation that’s going to move forward, want to attach non-germane items to any bill that’s going to move through and be signed into law,” Steil, a Republican from Wisconsin who chairs the House Financial Services Subcommittee on crypto, told Cointelegraph at the Bitcoin 2025 conference in Las Vegas on May 27.

“We have to restrain ourselves from that instinct and attempt by our colleagues — both sides of the aisle,” he added.

Congress’s biggest crypto backers hope to pass the stablecoin-regulating Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, and a crypto market structure bill before a month-long August recess.

Democratic lawmakers had pulled support for the GENIUS Act on May 8, citing concerns about US President Donald Trump’s crypto ventures potentially conflicting with his presidential duties

Jack Dorsey’s financial services firm Block, Inc. will launch Bitcoin payments on Square, its payments processing arm, with a rollout to begin later this year before a full launch in 2026.

The company announced the plan at the Bitcoin 2025 conference in Las Vegas on May 27, where Block demonstrated the feature at the BTC Inc. merchandise store.

Merchants will be able to accept Bitcoin (BTC) payments through existing Square hardware using the Lightning Network, Bitcoin’s faster, lower-cost layer-2 scaling network. 

“Merchants can choose to hold the Bitcoin, or auto-convert it to fiat in real-time,” Dorsey said on X. 

The company said it expects to start rolling out in the second half of 2025, reaching all eligible Square sellers by 2026, subject to regulatory approvals.