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Bitcoin Price Slips as Fed Minutes Flag US Inflation Risks

Bitcoin dipped by around 1% on Thursday, following the release of minutes from the Federal Reserve’s May policy meeting, which revealed mounting concern over persistent US inflation and the potential for economic slowdown.

Bitcoin was hovering just below $106,000. The dip comes shortly after bitcoin set a new all-time high above $111,000 on 22 May.

The minutes from the 6-7 May Federal Open Market Committee (FOMC) meeting showed Fed officials warning they may soon face “difficult tradeoffs” as inflation remains stubbornly high and unemployment begins to rise.

US SEC Dismisses Lawsuit Against Binance Crypto Exchange

The U.S. Securities and Exchange Commission on Thursday voluntarily dismissed its civil lawsuit against Binance, the world's largest cryptocurrency exchange, extending the regulator's new approach to cryptocurrencies since President Donald Trump reentered the White House.

A joint stipulation of dismissal signed by lawyers for the SEC, Binance and Binance founder Changpeng Zhao was filed in the Washington, D.C., federal court.

The SEC said dismissing the enforcement case was appropriate "in the exercise of its discretion and as a policy matter," and did not reflect its view on other cryptocurrency litigation.

GameStop Stock Price Continues Sinking After $512 Million Bitcoin Buy

GameStop's stock price fell for a second straight day, finishing below $30.

The video game retailer announced its first big Bitcoin buy on Wednesday, ahead of the dive.

GameStop bought over $500 million worth of Bitcoin to kick-start its crypto treasury.

BlackRock Bitcoin ETF Investments Have Already Hit a Record Monthly High

The iShares Bitcoin Trust (IBIT) exchange-traded fund so far amassed $6.22 billion in May, marking its best month ever in terms of monthly inflows.

IBIT also logged 10 consecutive days of inflows toward the end of the month.

The ETF previously recorded roughly $6.2 billion in inflows in March 2024.

Tether Aims to Become World's Biggest Bitcoin Miner, Says CEO

At the 2025 Bitcoin Conference in Las Vegas, the CEO of Tether Paolo Ardoino talked about the investments, inventions and Bitcoin mining of Tether.

Paolo Ardoino began his speech by saying, “last year we made $13 billion in profit. We keep a $120 billion blast in US treasuries as of now. We have committed to bring re-invest a lot into Bitcoin. We now have more than 100,000 Bitcoin that we own as a company.”

During his speech, he made a big announcement of Tether becoming the biggest Bitcoin miner in the world. 

Man Charged in New York with 3-Week Kidnapping to Try to Steal Bitcoin

A grand jury has indicted a 37-year-old cryptocurrency investor accused of kidnapping a business partner in Manhattan's upscale Soho neighborhood for three weeks, shocking him with electric wires, and dangling him over a staircase to try to get him to give up his Bitcoin password, prosecutors said on Wednesday.

John Woeltz was arrested on May 23, court records show. According to a criminal complaint filed in Manhattan criminal court, an unnamed man told New York City police that Woeltz and another man, William Duplessie, on May 6 took his electronic devices and passport demanded he give up his password so they could steal his cryptocurrency.

Woeltz and Duplessie, 33, have not yet entered pleas. Their lawyers declined to comment.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Thursday was $358.65 million. The total net asset value of Bitcoin spot ETFs is $128.13 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.07%.

Source: SoSoValue

The Bitcoin spot ETF with the highest net inflow on May 29 was iShares Bitcoin Trust ETF (IBIT), with a net inflow of $125.09 million.

Source: SoSoValue