Author: Stephanie Bedard-Chateauneuf

Meta Platforms Inc. (NASDAQ:META) appears ready to re-enter the crypto space with a fresh angle—Meta stablecoin payments targeted at microtransactions and global payouts for content creators. According to a recent Fortune report citing five anonymous sources, the tech giant is exploring stablecoins as a means to reduce transaction friction, particularly for influencers on platforms like Instagram.

This would mark the first notable crypto development at Meta since the failure of its high-profile Libra project. However, this new strategy appears significantly more modest in scope and aims to address practical payment challenges rather than overhaul global finance.

From Libra to Utility: Meta’s Crypto Reboot

The pivot to Meta stablecoin payments signals a potential course correction following the collapse of Libra—later renamed Diem. Libra aimed to launch a multi-currency-backed stablecoin and was backed by heavyweights like PayPal (NASDAQ:PYPL), Visa (NYSE:V), eBay (NASDAQ:EBAY), and Mastercard (NYSE:MA). Regulatory pressure, particularly during the Biden administration’s early crypto-skeptic phase, forced the project’s shutdown. In 2022, Meta sold the remains of Diem to Silvergate Bank.

Now, instead of taking on the global monetary system, Meta is reportedly focused on streamlining small payouts to creators across borders—one of the most practical use cases for digital currencies. Stablecoins can provide near-instant, low-cost settlement, avoiding high conversion fees and slow bank transfers, especially in emerging markets.

Stablecoin Adoption on the Rise

The timing of Meta’s renewed crypto interest aligns with growing institutional adoption of stablecoins. Payment giants like Visa and Mastercard have already begun experimenting with stablecoin integration into their networks. Visa, for instance, has conducted USDC-based settlement pilots on Ethereum (ETH), indicating growing confidence in stablecoin infrastructure.

Last month, Citigroup (NYSE:C) released a report projecting the global stablecoin market cap could grow to $3.7 trillion under bullish conditions. The forecast was tied to positive regulatory trends and increased institutional trust in blockchain-based payment rails.

For Meta, joining this wave with a utility-driven focus—like stablecoin payments for Instagram influencers—may offer a realistic path to rebuilding its crypto credibility while sidestepping the scrutiny that tanked Libra.

Ginger Baker’s Role in Crypto Push

Leading Meta’s exploration of this new initiative is Ginger Baker, the company’s VP of product who joined earlier this year. Baker brings significant experience in fintech and crypto, and her involvement suggests the company is taking a cautious but informed approach to its payment evolution.

The reported discussions with infrastructure providers remain preliminary. No specific blockchain network or service partner has been named yet, though sources say the conversations focus on small-payout use cases—likely involving USD-pegged stablecoins such as USDC or USDT.

While no formal announcement has been made, the tone within Meta seems pragmatic. CEO Mark Zuckerberg recently called the Libra project “dead” during a public discussion with Stripe’s co-founder John Collison, distancing the new plans from the failed experiment.

A Smarter, Smaller Crypto Play

The idea of Meta stablecoin payments represents a shift from ambition to application. Rather than reinventing money, Meta may simply want to make it easier to pay creators in Nigeria, India, Brazil, or Indonesia without navigating slow, expensive fiat rails.

If executed correctly, this could not only reintroduce Meta to the crypto world in a friendlier light, but also improve user retention on its creator platforms by offering faster, borderless compensation.

Whether Meta eventually scales this solution beyond creator payouts remains to be seen. For now, the strategy appears to be: stay useful, stay quiet, and avoid the mistakes of the past.

With regulators more open to utility-based stablecoin use, and stablecoins themselves becoming part of the financial mainstream, Meta stablecoin payments might just stick.

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A massive Bitcoin short squeeze triggered nearly $1 billion in liquidations across the crypto market Thursday, marking the largest squeeze since 2021. The sudden surge propelled Bitcoin (BTC) above the $100,000 mark for the first time in months, shaking out over-leveraged traders and reigniting bullish momentum across digital assets.

The spike came after weeks of stagnant trading, catching many short sellers off guard. Ethereum (ETH) also broke out, soaring past a key resistance level at $2,100 and contributing to widespread market volatility.

Short Sellers Burned as Bitcoin Tops $100K

Thursday’s rally was one of the most dramatic in recent memory. According to Coinglass, more than $964 million in crypto futures were liquidated within 24 hours. Of that, $834 million came from short positions—bets that prices would fall—making it the largest Bitcoin short squeeze event in over three years.

Bitcoin alone accounted for $416 million in liquidations, including one massive $11.97 million BTC/USDT position on Binance. At the height of the frenzy, Bitcoin surged past $100,000 and briefly touched $102,000 before pulling back slightly. This marks the first time Bitcoin has traded in six-figure territory since early February.

The total crypto market cap also soared, hitting $3.3 trillion, its highest level since March.

Trade Deal Sparks Risk-On Sentiment

What triggered this historic Bitcoin short squeeze? A key catalyst was a newly announced U.S.-UK trade agreement. President Donald Trump described the deal as the beginning of “more global partnerships,” a comment that appeared to boost sentiment across risk assets, including crypto.

The renewed optimism came amid an already fragile market dynamic, with many traders positioned bearishly after weeks of consolidation. The sudden bullish reversal ignited a classic short squeeze—forcing short sellers to buy back their positions to cover losses, which only intensified upward momentum.

Ethereum Joins the Breakout

Ethereum followed closely behind Bitcoin’s move, surging past $2,100 after struggling for weeks. Despite concerns over the recent Pectra upgrade and the distracting rise of meme coins, ETH managed to outperform most major altcoins.

According to Santiment, an on-chain analytics firm, the Bitcoin short squeeze also benefited Ethereum, which saw $259 million in short liquidations. The firm called the move “contrarian,” noting that the market often reverses when retail sentiment hits extremes—a pattern that played out once again.

FOMO Returns, But for How Long?

As Bitcoin’s breakout reverberates through the market, analysts warn of a potential cooldown. While optimism is high, the rally was partially fueled by retail FOMO (fear of missing out) and aggressive media coverage, both of which have historically preceded short-term corrections.

Santiment suggested that the recent price spike could mark the beginning of another speculative cycle. However, with Bitcoin above $100K and the largest short squeeze since 2021 behind us, the path forward may depend on macroeconomic developments and continued institutional support.

Market Outlook After the Squeeze

The crypto market’s recovery has reignited interest in digital assets, especially among sidelined investors waiting for a signal. Still, whether this breakout proves to be a sustained uptrend or a temporary blowoff remains to be seen.

With Bitcoin reclaiming $100,000 and Ethereum showing renewed strength, all eyes are now on the Federal Reserve, inflation data, and geopolitical headlines that could shape the next phase of this volatile market.

For now, the Bitcoin short squeeze stands as a reminder of the crypto market’s explosive potential—and its unforgiving nature for those caught on the wrong side of momentum.

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Coinbase (NASDAQ:COIN) made headlines this week by announcing its $2.9 billion acquisition of Deribit, a leading crypto derivatives exchange. The Coinbase Deribit acquisition is now the largest merger in crypto history, and it signals a strategic push into the booming crypto options market. The landmark deal includes $700 million in cash and 11 million Coinbase shares, underscoring the company’s aggressive expansion beyond traditional spot trading.

In a blog post revealing the acquisition, Coinbase emphasized the significance of this move: “This isn’t just another addition; it’s foundational to our vision of creating the most comprehensive, compliant, and user-friendly derivatives platform globally.” This statement underscores how central Deribit will be to Coinbase’s future ambitions.

Deribit, founded in 2016, has become one of the world’s most trusted and liquid crypto options platforms. The firm raised $40 million in 2022 at a $400 million valuation, with backing from QCP Capital and Polybius Capital, according to Crunchbase. The Coinbase Deribit acquisition represents not only a substantial premium but also a major consolidation play in the evolving world of digital asset derivatives.

A Bold Expansion into Crypto Derivatives

Coinbase’s core business has historically centered around spot crypto trading, but declining trading volumes and tightening competition from international platforms have forced the company to diversify. By acquiring Deribit, Coinbase secures a dominant position in the high-margin crypto derivatives sector—particularly options, which have surged in popularity among institutional and professional traders.

Crypto derivatives allow traders to hedge risk, speculate on price movements, and manage volatility more efficiently. The addition of Deribit’s infrastructure to Coinbase’s compliance-forward ecosystem could help bridge the gap between crypto-native products and regulated financial markets.

This acquisition also sends a clear message: Coinbase intends to lead in every segment of the digital asset economy.

Crypto M&A Heats Up

The Coinbase Deribit acquisition is the latest in a flurry of high-value deals reshaping the crypto landscape. In recent months, Ripple Labs made waves by acquiring brokerage firm Hidden Road for $1.25 billion. Ripple, best known for its XRP token and blockchain payment technology, has seen a resurgence after the U.S. Securities and Exchange Commission (SEC) dropped its lawsuit accusing the company of selling unregistered securities.

Kraken, another major U.S. exchange, also jumped into the M&A game by acquiring retail-focused futures platform NinjaTrader for $1.5 billion. These moves signal a shift from survival mode to expansion, particularly as expectations grow that the re-election of Donald Trump may lead to more favorable crypto regulation in the U.S.

Venture Funding Surges in Q1

M&A isn’t the only trend heating up—venture capital is flowing back into the space. According to Crunchbase, crypto and blockchain startups raised $3.8 billion in Q1 across 220 deals, representing a 138% increase over the prior quarter. That jump was largely fueled by Binance, which secured a $2 billion investment from MGX, an Abu Dhabi-based firm. It stands as the largest single investment in a crypto company to date.

The renewed investor interest, combined with consolidation among major players, paints a bullish picture for the future of crypto markets. Coinbase’s move to acquire Deribit is not just a signal of confidence in derivatives, but a sign of the industry’s next evolution: one that is institutional, global, and ready for mainstream adoption.

Looking Ahead

The Coinbase Deribit acquisition may set a new standard for how regulated U.S.-based crypto companies approach international markets. With Deribit’s stronghold in Europe and Latin America, Coinbase will gain access to new customer bases while potentially smoothing regulatory hurdles through its established compliance practices.

As crypto markets mature and global competition intensifies, this bold acquisition reflects a pivotal shift toward consolidation and strategic diversification. Whether it becomes a turning point for Coinbase—or for the crypto industry as a whole—remains to be seen, but one thing is clear: the game is changing.

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Efforts to advance stablecoin legislation in the U.S. Senate hit a major roadblock last week as partisan tensions and conflict-of-interest concerns derailed progress on the Genius Act. The bill, aimed at creating a federal framework for regulating stablecoins, failed to secure the 60 votes needed to proceed, sending shockwaves through the cryptocurrency industry and financial markets.

Stablecoin legislation has long been seen as a necessary step toward legitimizing digital assets backed by fiat currencies. The U.S. stablecoin market, valued at over $246 billion, has grown rapidly but operates in a legal gray zone. The Genius Act, proposed by Senate Republicans and backed by Senator Tim Scott, sought to clarify that status—but Democrats raised alarms over potential risks to consumers, national security, and the broader financial system.

Why the Genius Act Failed to Advance

The Senate vote on Thursday ended with 48 in favor and 49 opposed, falling short of the threshold required to advance the legislation without a filibuster. While Republicans largely supported the bill, two broke ranks, joining a majority of Democrats in opposing the motion.

Senate Majority Leader John Thune expressed frustration over the outcome. “I just don’t get it,” he said. “Six versions of this bill were drafted to address concerns, yet Democrats are unwilling to move forward.”

But Democratic leaders, including Senator Elizabeth Warren, were steadfast in their opposition. Warren argued that the bill “ignores basic protections that apply to every other financial product in America,” referring to its lack of consumer safeguards and regulatory oversight for issuers of dollar-backed cryptocurrencies.

The Trump Factor in Crypto Regulation

One of the more controversial issues surrounding the bill was former President Donald Trump’s involvement in the digital asset sector. Trump-affiliated companies, such as World Liberty Financial, have issued their own stablecoin, raising concerns over conflicts of interest.

While Trump’s crypto ventures were not officially cited by all dissenting Democrats, they became a focal point during Senate deliberations. Lawmakers questioned whether fast-tracking stablecoin legislation would benefit entities closely linked to Trump and his family, thereby undermining the bill’s legitimacy.

Senator Chuck Schumer and other high-ranking Democrats said the legislation lacked meaningful anti-money laundering safeguards and failed to set boundaries for stablecoin integration into the U.S. banking and payments system. Senator Ruben Gallego and eight other Democrats who initially supported the bill’s advancement later withdrew support over these concerns.

Industry Reactions and What Comes Next

Despite the failure to pass the Genius Act, the crypto industry remains hopeful. Kristin Smith, the outgoing CEO of the Blockchain Association, released a statement calling for continued bipartisan collaboration. “We look forward to next steps in this process and bipartisan discussion,” she wrote on X (formerly Twitter).

Similarly, Miller Whitehouse-Levine of the Solana Policy Institute echoed that sentiment, stating: “We are optimistic that bipartisan commitment to enact stablecoin legislation will get the Genius Act over the finish line.”

Meanwhile, activity in the House of Representatives suggests the debate is far from over. GOP lawmakers recently introduced a market structure bill that seeks to define regulatory jurisdictions between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) for digital assets. If passed, this legislation could provide the clarity needed for traditional institutions to enter the crypto space with confidence.

Impact on Crypto Stocks

While the broader crypto market took the Senate setback in stride, companies like Coinbase (NASDAQ:COIN), Ripple Labs, and Kraken, all of which are impacted by stablecoin regulation, will likely monitor future developments closely. These firms have long advocated for regulatory clarity, viewing it as a catalyst for institutional adoption and product innovation.

For now, the failure to advance stablecoin legislation underscores the challenges of governing emerging financial technologies in a highly polarized political environment. But with both sides acknowledging the need for oversight, the path forward—though delayed—remains open.

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The Trump crypto scandal is sparking outrage across Capitol Hill, with lawmakers accusing former President Donald Trump and his family of pushing a self-serving digital currency agenda. At the center of the controversy is a billion-dollar deal involving an Abu Dhabi-backed investment fund, a Trump-affiliated stablecoin, and crypto exchange giant Binance.

World Liberty Financial, a cryptocurrency venture co-owned by Trump’s sons Donald Jr. and Eric, holds direct ties to the former president. According to the company’s website, 60% of it is controlled by a Trump business entity. Critics say this setup dangerously blurs the line between public office and private profit.

A $2 Billion Deal Draws Fire

On May 1, the Emirati fund revealed plans to use Trump’s stablecoin to finance a $2 billion investment in Binance. The massive crypto transaction raised alarm among lawmakers, many of whom believe it undermines the GENIUS Act — a bipartisan effort aimed at regulating stablecoins with oversight, transparency, and consumer protection.

The scandal has already led to fallout. Democratic Rep. Maxine Waters stormed out of a House crypto hearing, calling Trump’s actions “a blatant abuse of power” and accusing him of using regulatory influence to benefit his personal interests.

Meme Coin Profits and Exclusive Perks

The Trump crypto scandal doesn’t stop at stablecoins. In late April, Fight Fight Fight, a company aligned with Trump’s brand, promoted its $TRUMP meme coin by offering exclusive rewards to top investors. Perks included an “intimate dinner” with Trump at his Virginia golf club and a now-deleted promise of a “VIP White House Tour” — despite him no longer being in office.

These promotions sent the coin’s value soaring by up to 80%. Since January, Trump-linked tokens and meme coins have generated over $300 million in trading fees. Many lawmakers view these profits as the result of a carefully orchestrated campaign to exploit Trump’s political brand.

Support for GENIUS Act Weakens

Once seen as a landmark in crypto oversight, the GENIUS Act is now on shaky ground. Senators across party lines are distancing themselves from the legislation. Democratic Sen. Elizabeth Warren called the Trump crypto scandal “a textbook example of corruption,” arguing that the bill, in its current form, could end up legitimizing Trump’s crypto ventures.

Senate Majority Leader Chuck Schumer has reportedly urged fellow Democrats to demand stronger anti-corruption measures before supporting the bill. At least nine Democratic senators have pulled their backing since news of the Trump deal broke.

Republican Lawmakers Also Voice Doubts

Though less direct in their criticism, some Republican senators are also signaling resistance. Sen. Rand Paul warned that the proposed regulations could stifle crypto innovation, while Sen. Josh Hawley expressed discomfort with the idea of private entities, including Big Tech, issuing stablecoins.

Sen. John Kennedy, too, remains undecided. He noted that “deals are being made all over the place” and refused to support the bill until its details are clarified.

Calls for New Safeguards and Reform

In response to the Trump crypto scandal, Sens. Jeff Merkley and Elizabeth Warren are drafting legislation to prohibit the president, vice president, and lawmakers — along with their families — from launching or profiting from crypto ventures while in office.

Sen. Merkley described Trump’s activities as “selling access to his office in broad daylight,” adding, “This isn’t just unethical — it’s corrosive to democracy.”

If passed, the End Crypto Corruption Act would aim to restore public trust by separating digital asset entrepreneurship from political power.

Public and political pressure continues to mount as the Trump crypto scandal unfolds. Whether it derails the GENIUS Act or reshapes how U.S. officials engage with digital assets, one thing is clear — the intersection of politics and crypto has never been more volatile.

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