Weekly Crypto Round-up for May 17- May 23, 2025

A comprehensive overview of the week's events, updates and movements in the crypto space to stay up-to-date on the most important crypto stories and market-shaping events.

1. KEY TAKEAWAYS

• Bybit launches direct global stock trading with USDT
• Mastercard integrates for 150M merchants together with MoonPay
• Kraken to offer tokenized US stocks to users worldwide
• Bitcoin surpasses Amazon in market capitalization
• Coinbase’s data breach affected nearly 70,000 users
• Ripple launches cross-border blockchain payments in the UAE

2. CONTENT

🌐 Bybit has expanded its trading platform by introducing access to 78 global stocks, enabling users to trade these equities directly using USDT (Tether). This development is part of Bybit's Gold & FX expansion, aiming to integrate traditional financial assets with the cryptocurrency ecosystem. By allowing stock trading with a stablecoin, Bybit offers a streamlined approach for crypto investors to diversify their portfolios without converting to fiat currencies. This is a significant step towards the convergence of traditional finance and digital assets, providing crypto traders with broader investment opportunities.

💳 Mastercard has partnered with crypto fintech MoonPay to launch stablecoin-enabled payment cards, allowing users to spend digital currencies like USDT at over 150 million merchants worldwide. Users can now spend stablecoins like USDT and USDC at over 150 million merchants worldwide, thanks to a new Mastercard and MoonPay integration. Payments are converted to local currency instantly at checkout, making crypto spending seamless and familiar.

MoonPay powers the backend with Iron, a stablecoin platform it acquired in March 2025. Businesses can also use the service to send payouts to freelancers, gig workers, and creators. It’s a major leap for stablecoins in real-world finance.

💸 Kraken Digital Asset Exchange announced a new product called 𝘅𝗦𝘁𝗼𝗰𝗸𝘀 for 𝗻𝗼𝗻-𝗨.𝗦. 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀 across Europe, Asia, LATAM, and Africa. These "xStocks" will be available 24/7 on the Solana blockchain, allowing international investors to trade outside traditional market hours. Each token is backed 1:1 by actual shares held by Kraken’s partner, Backed Finance, and is redeemable for the cash value of the underlying asset.

This move aims to reduce costs and improve access for global investors, who often face high fees and slow settlement times when buying U.S. stocks through traditional brokerages. By leveraging blockchain technology, Kraken seeks to offer a more efficient and accessible avenue for trading U.S. equities.

📊 On May 22, 2025 known as Bitcoin Pizza Day - Bitcoin hit a record high of $111,000, pushing its market capitalization to $2.205 trillion, surpassing Amazon's $2.135 trillion and making it the world's fifth-largest asset. This milestone coincided with the 15th anniversary of the first real-world Bitcoin transaction, when Laszlo Hanyecz paid 10,000 BTC for two pizzas—now worth over $1.1 billion. The surge reflects growing institutional adoption, with BlackRock becoming the second-largest Bitcoin holder after Satoshi Nakamoto.

In a significant security breach, Coinbase disclosed that nearly 70,000 customers were affected when cybercriminals bribed overseas support agents to access sensitive user data. The compromised information includes names, contact details, government-issued ID images, partial Social Security numbers, and account activity. The attackers demanded a $20 million ransom, which Coinbase refused to pay. Instead, the company has offered a $20 million reward for information leading to the perpetrators' arrest.

The breach, which began in December 2024 but was only discovered in May 2025, is expected to cost Coinbase between $180 million and $400 million in remediation and reimbursements. The U.S. Department of Justice has initiated an investigation into the incident.

⛓ Ripple has launched its blockchain-based cross-border payment service in the UAE, partnering with Zand Bank and fintech firm Mamo. This follows Ripple's recent approval by the Dubai Financial Services Authority (DFSA), making it the first blockchain-enabled payments provider licensed to operate in the Dubai International Financial Centre. The service enables 24/7 global transactions with near-instant settlement, leveraging a mix of stablecoins, cryptocurrencies, and fiat currencies.

Zand Bank, the UAE's first all-digital bank, plans to issue an AED-backed stablecoin to enhance digital transactions. Mamo aims to simplify international payments for businesses and consumers. Ripple's network now spans over 90 payout markets, processing more than $70 billion in annual volume. This expansion underscores the UAE's commitment to becoming a global hub for crypto innovation.

3. MARKET MOVES

📈 In the last 24 hours, Bitcoin's price moved +0.32% to $110.95k and trading volume moved -35.87% to $58.12b.

The crypto market remains as dynamic as ever, with new opportunities coming up every day. Whether you’re a seasoned trader, an investor or a beginner, stay informed with the latest trends and insights in crypto.

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The information does not constitute financial advice or recommendation and should not be considered as such. All content, including opinions and analyses, is intended for educational purposes only. It should not be considered as solicitation or recommendation for any investment decisions. We encourage you to conduct your own research prior to investing.