The Dypto Times 5/21 - Is Kevin O'Leary Reading Our Articles?

Even at Dypto Crypto, we have our favorites. Kevin O’Leary is one of them. He delivered a keynote at Consensus 2025. The talk was short — only about 10 minutes long — but it was full of goodies. We listened intently, and we couldn’t help but wonder if he’d been reading our articles and this newsletter.

Check out his talk, and you tell us. But that’s not all that happened this week. Let’s get after it.

From the Dypto Crypto Newsroom

Consensus 2025 – Stablecoins Are The Future of Money

TLDR

• Consensus 2025 was this week in Toronto.

• Kevin O’Leary delivered a keynote and spoke on the importance of stablecoins shaping the future of finance.

• Mark Greenberg from Kraken and Jack McDonald from Ripple also took to the stage to discuss the future of stablecoins, their value, and how they can potentially evolve.

Consensus 2025, CoinDesk’s flagship conference, brought global industry leaders and crypto enthusiasts to Toronto, a city emblematic of financial innovation. 

Among the standout topics this year were stablecoins, a pivotal conversation point that captured the attention of attendees and speakers alike, positioning stablecoins as essential for the next phase of the financial revolution.

Why stablecoins will springboard the rest of the industry.

The hot-button issue remains whether regulatory approval or technological evolution will dictate stablecoin adoption timelines. Both O’Leary’s bullish outlook and the balanced panel ties between Kraken and Ripple pointed toward the untapped potential in addressing inefficiencies plaguing global finance. 

Before stablecoins can replace traditional systems and fees, hurdles concerning transparency, centralization, and accessibility must be addressed. 

Kevin O’Leary wrapped his thoughts with a stark reality check concerning the overall vision for digital assets. “It’s got nothing to do with Bitcoin. It’s digital payment systems. That’s the potential. That’s the amazing opportunity we have here.” 

Read the full article at Dypto Crypto

The GENIUS Act Isn’t Done Yet

TLDR

• We thought the GENIUS Act was dead in the water. We were wrong.

• After the legislation failed last week, John Thune, the Senate Majority Leader, filed for it to be reconsidered.

• Crypto founders descended on DC to help get the bill passed, as stablecoin regulation is much needed and a start to overall crypto law to help push digital assets being considered a legitimate asset class.

On May 8th, the Guiding and Establishing National Innovation for US Stablecoins Act, better known as the GENIUS Act, fell short of passing the Senate by just one vote. The failure stirred up controversy, with much of the debate centered on President Donald Trump’s financial connections to the crypto industry. 

Yet, despite the standstill, proponents seem unwilling to shelve the bill. With lawmakers scrambling to revise it, another vote could happen within days. Here’s where things stand now and why the stakes are high for stablecoin regulation in the United States. 

What happens now?

The timeline is tight, but if comments from supporters hold, the Senate is expected to retry the GENIUS Act vote before May 26, Memorial Day in the US. Success would birth a new era for stablecoin regulation and establish a regulatory framework for other nations to follow. 

But hurdles remain. The revisions may appease some Democrats who objected to the previous language, but deeply divided opinions on crypto itself continue to foster friction. The unpredictable dynamics of the industry loom large, even as the bill’s backers press forward. 

For crypto enthusiasts, regulators, and market participants, this week may set the course for stablecoin oversight in the United States. So call who you need to call. Email who you need to email. A lot of these guys are up for re-election soon. Let them know where your vote is going to go.

Read the full article at Dypto Crypto

BTC and Tether Running Hot in 2025

TLDR

• Strategy picked up another 7,300 BTC, spending well over $700 million to get it. No big deal…

• Metaplanet made their second-largest purchase to date with just a hair over 1k BTC.

• Tether now holds an impressive $120 billion in US Treasury assets.

When people think about cryptocurrency, Bitcoin and Tether often dominate the conversation. There’s a reason for that.

These two tokens (referring to Tether’s USDT) are turning heads this week, as Metaplanet, Strategy, and Tether continue to shake up the crypto landscape with record-breaking acquisitions and high-stakes strategies. Let’s get after it.

What it means for the crypto market.

The recent news from Metaplanet, Strategy, and Tether underscores a broader trend in the crypto ecosystem. Institutional players are making significant, deliberate plays that could set the tone for crypto’s future.

For Bitcoin, Metaplanet and Strategy’s acquisitions highlight the digital asset’s growing role as a reliable, long-term treasury asset for institutions. Even amid volatility, firms are banking on Bitcoin’s potential for growth and security as a store of value.

For Tether, the focus is on stability and utility. With increased reserves and a strong regulatory foothold, Tether is leveraging its position to provide liquidity and digital dollar access on a global scale. Their strategic investments in forward-looking industries indicate a desire to be more than just a stablecoin issuer.

Read the full article at Dypto Crypto

Question of the Week

A comment on TikTok: “My concern is that crypto is not backed by any underlying asset.”

Meme of the Week

Source

Deep Dive - Breaking Down the Coinbase Hack

It was certainly the kind of headline to quicken the pulse of crypto owners. Coinbase, the trusted platform where millions buy and sell cryptocurrencies, recently disclosed a security breach. The incidents have led to crucial questions about customer safety in the digital asset space.

This thing wasn’t your typical crypto exploit. It was a bit more old school. 

A group of criminals targeted their customer support operations. The attackers managed to bribe a small number of overseas contractors with cash, persuading them to breach protocol by extracting sensitive customer data.

According to a recent 8-K filing with the SEC, the stolen data, which affected less than 1% of Coinbase’s monthly transacting users, included:

• Personally Identifiable Information (PII) like names, addresses, phone numbers, and email addresses.

• Partial Account Details, including masked Social Security numbers (last four digits only) and masked bank account information.

• Account Activity Data, such as balance snapshots and transaction history.

• Government IDs, such as driver’s licenses and passports.

• Limited corporate information, including agent training materials and documents that criminals could potentially exploit for social engineering.

However, the Coinbase hack did not result in access to:

• Login credentials, passwords, or two-factor authentication (2FA) codes.

• Private keys for cryptocurrency wallets.

• Any ability to move or access customer or Coinbase funds.

• Coinbase Prime or enterprise accounts.

• Internal or external wallets (both hot and cold).

The breach did not enable direct access to financial assets, but the information obtained could still be used for phishing and other social engineering attacks on customers.

Read the full article at Dypto Crypto

Question of the Week Answer

You’re technically right. It’s not backed by an underlying asset. Neither is gold. Neither is the US dollar.

They are the underlying asset.

The Bitcoin market is possibly the most ideal, pure capitalist market in the world. It’s 100% driven by supply and demand. No dark pools. No manipulation. There are still enough whales that can compete with institutions. Retail is still a viable group.

We can’t think about BTC like a security (company stock). There is no company, and there is no stock. But we’re seeing more interest as a store of value. We’re seeing more use cases. We’re seeing everything that a universal currency should turn into with time. 

It’s happening. Right now. Today. This is the future we’ve wanted. The one we longed for. And the future ahead is looking even better.

Closing Shenanigans

Thanks for reading. Dypto Crypto is a safe place where crypto newbies can learn and ask questions to help them make informed decisions in this exciting and volatile world. We’re having a lot of fun with YouTube shorts and TikTok. 

So check out those videos and some of our website's tools. Feel free to ask questions on our social platforms or the site. Thanks for subbing! We’ll see you next week. We hope you guys are enjoying the newsletter, and we’d appreciate some feedback. Feel free to reach out on social media and let us know how we did on the first try.