Weekly Crypto Round-up for May 3 - May 9, 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

• Ethereum’s ‘Pectra’ network upgrade goes live
• New Hampshire becomes the first U.S. state to officially adopt a Bitcoin Reserve
• Stripe introduces stablecoin accounts in over 100 countries
• Sui collaborates with Adidas to launch pioneering NFTs
• Avalanche partners with Bitget
• Germany seizes $38M in crypto from Bybit hack-linked eXch exchange

2. CONTENT

⛓️ Ethereum's Pectra upgrade, activated on May 7, 2025, marks a significant milestone in the network's evolution, introducing enhancements aimed at improving scalability, user experience, and staking efficiency. The rollout led to a short spike in the price of ETH to $2,300, as of the time of writing, marking a potential turning point after a challenging start to the year.

The Pectra upgrade simplifies the user experience by reducing the complexity of interacting with Ethereum-based applications. Developers can leverage the new smart account functionalities to create more intuitive and efficient decentralized applications. These improvements aim to enhance scalability, user experience, and staking efficiency, making Ethereum more accessible and efficient for users and developers alike.

🌎 New Hampshire has made history by becoming the first U.S. state to establish a Strategic Bitcoin Reserve. On May 6, 2025, Governor Kelly Ayotte signed House Bill 302 into law, authorizing the state treasury to allocate up to 5% of public funds into digital assets and precious metals. To qualify, digital assets must have a market capitalization exceeding $500 billion - a threshold currently met only by Bitcoin.

The law mandates that these assets be securely held through U.S.-regulated custodians, state-controlled multisignature wallets, or exchange-traded products, ensuring robust oversight and protection of taxpayer funds.

🌐 Stripe has launched stablecoin-based financial accounts in over 100 countries, enabling businesses to hold, send, and receive U.S. dollar-pegged stablecoins. This initiative aims to provide a modern alternative to traditional banking systems, particularly benefiting regions with limited financial infrastructure.

Businesses in countries such as Argentina, Chile, Turkey, Colombia, and Peru can now access these accounts, facilitating international transactions and financial inclusion. The accounts support Circle's USDC and Bridge's USDB, allowing for seamless integration with existing digital payment systems. This move by Stripe reflects the growing adoption of stablecoins as a means to enhance global financial accessibility and efficiency.

👟 Adidas is expanding its presence in Web3 by partnering with Xociety, a shooter RPG game built on the Sui blockchain, to release limited-edition NFT mystery boxes featuring Adidas-branded digital apparel. This collaboration marks Adidas's continued involvement in the digital collectibles space, following previous ventures with projects like Bored Ape Yacht Club and Doodles.

Launching on May 16, 2025, the collection offers 2,600 mystery boxes priced at $122.99 each. Each box contains Adidas-themed virtual clothing sets for player avatars in Xociety, with rarity levels ranging from "Uncommon" to "First." This initiative underscores Adidas's commitment to integrating digital fashion into interactive gaming environments, setting it apart from other apparel brands that have retreated from the Web3 space.

🌏 Bitget, a renowned crypto exchange, collaborates with Avalanche to launch a $10 million Web3 initiative in India. The program is anchored by the HODL ON tour, engaging communities in Delhi and Bangalore. This partnership signals a significant push towards grassroots technology education.

The initiative is set to influence various stakeholders including developers, startups, and government bodies. This move is expected to stimulate local innovation, particularly in Decentralized Finance (DeFi) sectors. It could potentially lead to increased developer activity, impacting both local and global crypto markets.

💲 German authorities have seized €34 million (approximately $38 million) in cryptocurrency from eXch, a platform allegedly used to launder funds stolen during the $1.4 billion Bybit hack in February 2025. This marks the third-largest crypto confiscation in the history of Germany's Federal Criminal Police Office (BKA).

The seizure, announced on May 9, involved multiple cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Dash (DASH). Authorities also shut down eXch's German server infrastructure, securing over eight terabytes of data. Senior public prosecutor Benjamin Krause emphasized the importance of action against anonymous money laundering opportunities, stating that crypto swapping is a key component of the underground economy used to conceal funds from illegal activities.

3. MARKET MOVES

📈 In the last 24 hours, Bitcoin's price moved +3.25% to $102.88k and trading volume moved +31.78% to $69.84b.

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.