Froklog

US Democratic senators proposed a bill banning government officials from promoting cryptocurrencies, aiming to prevent conflicts of interest and corruption in the sector. The bill targets officials like President Trump and Elon Musk, introducing penalties for violators.

Stricter government regulation of stablecoins may lead to the emergence of "dark stablecoins" as suggested by CEO Ki Young Ju, offering a censorship-resistant alternative for international transfers.

President Zelensky withdrew a cryptocurrency regulation bill from consideration due to concerns raised by the head of the National Securities and Stock Market Commission. This move reflects the ongoing debate about the need for cryptocurrency regulations in Ukraine.

Ledger regained control of their Discord server after a hacker attack on May 10th. The attacker compromised a moderator account, spreading phishing links. Ledger took swift action to secure the server and warned users not to input seed phrases from chat links.

The newly elected Pope Robert Prevost has identified artificial intelligence as one of humanity's most pressing issues, emphasizing the need for ethical considerations in its development and use. The Vatican is utilizing AI to digitize its archives, aiming to enhance research accessibility. Pope Francis previously called for ethical guidelines on AI technology.

Credit DeFi protocols have surpassed DEX in volumes with a record $124.6 billion total industry volume. Aave leads with $24 billion, while DEX locked value dropped to $21.5 billion. DeFi lending has become a stable income source, attracting capital from DEX liquidity pools. This shift is attributed to efficient designs like Uniswap v3 and the increasing profitability of credit protocols. DeFi lending market share is expected to reach 65% by the end of 2024, surpassing CeFi platforms after their market contraction. Galaxy Digital reports a 960% increase in DeFi loans since late 2022. Institutional interest and regulatory clarity are anticipated to drive future growth. In Q1 2025, DeFi TVL decreased by 27%, NFT trading volume by 24%, while social and AI applications experienced significant growth.

Inflows into crypto funds have grown to $6.7 billion since the beginning of the year, with positive trends continuing for the fourth consecutive week. Various factors such as global increase in money supply and approval of cryptocurrencies as reserve assets contribute to this growth.

Alibaba cuts AI search engine training costs by 88% with ZeroSearch, improving neural networks' search capabilities. This innovation reduces reliance on expensive external search infrastructure, offering significant cost savings. It demonstrates potential to enhance search capabilities according to researchers.

Cryptocurrency turnover in global trade flows reached $2.8 trillion in 2021, with stablecoins contributing $1.2 trillion. The study by BIS shows a growing crypto ecosystem despite fluctuations, highlighting shifts in geographic activity. Regulatory measures have minimal impact on these flows. Financial incentives and reduced barriers drive cross-border crypto transactions. The US, UK, and emerging markets like India, Indonesia, Turkey, and Russia play significant roles in crypto transactions. The study suggests increasing interest in stablecoins due to lower alternative costs and high inflation rates. The findings also hint at countries exploring their own stablecoins tied to different currencies.

Credit DeFi protocols have surpassed DEX in volumes. Aave leads, with total locked value of $53.3B. Founder Henrik Andersson attributes this shift to lending being a stable income source. DeFi lending market share is predicted to reach 65% by 2024 end. Galaxy reports a 960% increase in DeFi loans since late 2022. Institutional involvement and regulatory clarity are expected to drive future growth. TVL of DeFi protocols dropped by 27% in Q1 2025.

David Bailey's firm raised $710 million for a Bitcoin reserve with KindlyMD. The merger will focus on integrating cryptocurrency into traditional financial structures, making Bitcoin available to all investors. Investors include Arrington Capital, VanEck, and key individuals. The merged company's stocks will temporarily keep the ticker KDLY on Nasdaq. Nakamoto also partnered with BTC Inc. for marketing support. KDLY's stocks rose by 404.87% post-merger announcement.

Alibaba cuts AI search engine training costs by 88% with ZeroSearch, improving neural networks' search capabilities. This innovation reduces reliance on expensive external search infrastructure, offering significant cost savings. It demonstrates potential to enhance search capabilities according to researchers.

Teenagers in Las Vegas abducted a crypto investor and stole $4 million in cryptocurrencies. Two 16-year-olds from Florida have been arrested, while a third suspect remains at large. The victim was taken to a gas station after being threatened and managed to seek help. The pretrial hearing is scheduled for July 2025.