Top Stories of The Week CZ refutes claims in latest WSJ article on Trump-linked crypto dealings Binance co-founder and forme
Top Stories of The Week
CZ refutes claims in latest WSJ article on Trump-linked crypto dealings
Binance co-founder and former CEO Changpeng “CZ” Zhao has pushed back against a report in The Wall Street Journal, calling it a “hit piece” filled with inaccuracies and negative assumptions.
In an X post, Zhao criticized the publication’s portrayal of his alleged involvement with World Liberty Financial, the decentralized finance project backed by a business entity affiliated with US President Donald Trump. Trump’s sons — Eric and Donald Jr. — are involved in the management of the company.
Zhao said the WSJ article portrayed him as acting as a “fixer” for the World Liberty Financial team and its co-founder Zach Witkoff during foreign trips.
Hong Kong passes stablecoin bill, set to open licensing by year-end
Hong Kong’s Legislative Council passed the Stablecoins Bill, paving the way for a regulated framework that could position the region as a global leader in digital assets and Web3 development.
In a May 21 post on X, Legislative Council member Johnny Ng Kit-Chong said the bill had passed its third reading, clearing the final hurdle for adoption.
“It is expected that by the end of this year, major institutions will be able to apply to the Hong Kong Monetary Authority to become licensed stablecoin issuers,” Ng said.
OpenAI plans to ship 100 million pocket-sized AI devices for everyday use
OpenAI is planning to develop AI “companion” devices that will integrate artificial intelligence capabilities with everyday life, potentially opening the door to a new high-tech innovation used alongside laptops and smartphones.
In an interview with The Wall Street Journal, OpenAI CEO Sam Altman said he and former Apple chief design officer Jony Ive are developing these secret devices for mass consumption, with plans to ship 100 million units upon launch.
Ive joined OpenAI after his startup, io, was acquired by Altman’s company in a $6.5 billion deal, the WSJ reported on May 21.
Neither Altman nor Ives specified what these companion devices would look like or how they would operate. Ives simply referred to them as a “new design movement” that would be similar to Apple’s family of hardware and software integrations.
US lawmaker introduces anti-corruption bill ahead of Trump’s dinner
California Representative Maxine Waters, ranking member of the US House Financial Services Committee, has announced plans to introduce legislation “to block [Donald] Trump’s memecoin and stop his crypto corruption.”
In a May 22 notice, Waters said the Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025 would be aimed at blocking the US president, vice president, members of Congress and their families from engaging in “crypto crime.”
The US lawmaker referred to Trump and his wife, Melania, issuing personal memecoins in January, his family launching a stablecoin (USD1) through the crypto platform World Liberty Financial, and the president attempting to establish a national Bitcoin reserve as his sons back a BTC mining venture as examples of this “crypto corruption.”
JPMorgan boss says bank users can soon buy Bitcoin
Jamie Dimon, the CEO of JPMorgan Chase, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency.
“We are going to allow you to buy it,” Dimon said at JPMorgan’s annual investor day on May 19. “We’re not going to custody it. We’re going to put it in statements for clients.”
CNBC reported that Dimon also remarked on his long-held skepticism about crypto assets, pointing to their use in money laundering, sex trafficking and terrorism.
“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,” he said.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $108,299, Ether (ETH) at $2,543 and XRP at $2.32. The total market cap is at $3.41 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are SPX6900 (SPX) at 25.81%, Hyperliquid (HYPE) at 25.14% and Worldcoin (WLD) at 24.79%.
The top three altcoin losers of the week are Walrus (WAL) at 16.00%, Pyth Network (PYTH) at 14.22% and EOS (EOS) at 11.99%. For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Most Memorable Quotations
“The crypto markets have been languishing in SEC limbo for years.”
Paul Atkins, chair of the US Securities and Exchange Commission
“After the coin launch, the feds came to granny’s house and knocked on her door, and she called me, having a heart attack, saying: ‘The FBI is here after you, what have you done?”
Haliey Welch, better known as the “Hawk Tuah girl”
“A market structure dominated by a few RPC providers is one that will…
cointelegraph.com