Is Ethereum's Lates Price Rally Sustainable?

Arizona Governor Katie Hobbs vetoed bills proposing the establishment of a Digital Assets Strategic Reserve Fund and allocating state funds to Bitcoin. She signed a bill regulating crypto ATMs, requiring operators to display fraud warnings and comply with anti-money laundering protocols.

A class action lawsuit against Caitlyn Jenner and Sophia Hutchins was dismissed by a California federal judge due to lack of evidence showing how the token purchases were conducted in the U.S. The lead plaintiff, Lee Greenfield, has until May 23 to file a new complaint with stronger evidence.

Andrew Charlton has been appointed as Assistant Minister for Science, Technology, and the Digital Economy in Australia, in addition to his role as Cabinet Secretary. The government aims to regulate digital assets and modernize the tech sector, aligning with global standards like the EU’s MiCA and Singapore’s Payment Services Act.

New York Mayor Eric Adams aims to position the city as a global crypto hub, hosting a crypto summit on May 20. He emphasized blockchain's potential for financial inclusion and the city's growing role in crypto innovation, seeking collaboration between public officials and private sector innovators.

American Bitcoin, a subsidiary of Hut 8 with ties to Eric Trump, plans to merge with Gryphon Digital Mining. The 100% stock-for-stock merger is expected to close in Q3, with American Bitcoin stockholders owning around 98% of the new company.

Following the announcement by the S&P 500 that Coinbase's stock will be added to its index on May 19, COIN shares surged 8% in after-hours trading, reaching $225 per share. This move comes as Coinbase is set to replace Discover Financial Services on the S&P 500 index.

SEC Commissioner Caroline Crenshaw questions the agency's focus on promoting blockchain technology for traditional finance firms, suggesting it may lead to picking winners and losers in the industry. She argues that delays in settlement on Wall Street provide key benefits, such as flexibility and security measures.

Nakamoto Holdings and KindlyMD have formed a new Bitcoin treasury, raising $710 million through private investment and convertible notes. The merger aims to accelerate Bitcoin adoption globally, with David Bailey as the CEO. KindlyMD, a healthcare firm, will maintain its focus on combating the opioid crisis.

CIC Digital LLC and Fight Fight Fight LLC organized a dinner where 220 crypto investors could dine with US president Donald Trump by purchasing his personal crypto coin. The investors were selected based on their TRUMP coin holdings and spending between the announcement and the deadline.