Alessandro Rocco Pietrocola

Mainland China, one of the world’s most restrictive countries to cryptocurrency, may be inching closer to crypto adoption as a locally-operating brand has announced a Bitcoin reserve strategy.DDC Enterprise, also known as DayDayCook, a US consumer brand with Hong Kong roots and operations in mainland China, is adopting a Bitcoin (BTC) reserve strategy, its CEO Norma Chu announced in a shareholder letter on May 15.As part of the strategy, DDC has immediately acquired 100 BTC for roughly $10.4 million and plans to accumulate 5,000 BTC in the next 36 months, with 500 BTC targeted by the end of 2025.Chu’s Bitcoin reserve announcement came after the firm posted a 33% revenue increase in 2024, with total revenue amounting to 273.3 million Chinese yuan ($37.4 million), according to its Form 20-F filing with the US Securities and Exchange Commission (SEC) on May 15.DDC’s Bitcoin plans missing in SEC recordsDespite the public announcement, DDC’s latest SEC filings do not explicitly mention the company’s Bitcoin holdings or a Bitcoin reserve strategy. “We are embarking on a pioneering initiative to position DDC at the forefront of digital asset innovation with laser-focused execution on Bitcoin accumulation,” the DDC CEO said in the shareholder letter.Chu previously announced DDC’s intentions to adopt a Bitcoin reserve strategy in another letter on March 18.Source: Norma ChuAlthough DDC’s annual report does not mention Bitcoin reserve plans, the SEC filing does provide a few hints to the company’s intended adoption of BTC as a new asset class.“The company [DDC] is evaluating strategies to obtain the required additional funding for future operations,” the report reads, adding:“The Company plans to diversify revenue streams and implement cost-saving measures to grow revenues and decrease expenses. However, the company may be unable to access further equity or debt financing when needed.”Additionally, the filing refers to crypto disclosure guidelines set by the accounting standards update by the Financial Accounting Standards Board (FASB) issued in late 2023.An excerpt from the DDC’s F-20 annual report. Source: SEC“In December 2023, the FASB issued ASU 2023-08, “Intangibles, Goodwill and Other-Crypto Assets (Subtopic 350-60). Accounting for and Disclosure of Crypto Assets,” the filing notes, adding that firms are allowed to start using the new rules early if their financial reports haven’t been published yet.China’s evolving stance on cryptoDDC’s filing says that the firm partly operates in mainland China and Hong Kong, which puts its financial conditions and growth under the influence of local political, economic and social developments.As of May 2025, mainland China has maintained a restrictive agenda on cryptocurrency trading and mining since local regulators announced a major ban on crypto transactions in 2021.Related: US-China trade deal could shed light on Bitcoin’s use case: TraderHowever, many online reports speculated that China may lift its crypto ban amid growing adoption in Hong Kong, as well as the ongoing global shift to crypto fueled by the crypto-friendly approach by the US administration under President Donald Trump.Bitcoin mining map by countries as of January 2022. Source: CBECIOn the other hand, some analysts have questioned mainland China’s plans to “unban Bitcoin” despite the fact that it has somehow remained a major global player in Bitcoin mining after the ban was enacted.Cointelegraph approached DDC for comment regarding its Bitcoin reserve plans but did not receive a response by the time of publication.Magazine: How Chinese traders and miners get around China’s crypto ban

A report from enterprise-grade digital assets platform Fireblocks shows that 90% of institutional players are using or exploring the use of stablecoins in their operations.The report, published May 15, surveyed 295 executives across traditional banks, financial institutions, fintech companies and payment gateways. Almost half of the respondents (49%) said they already use stablecoins in payments, while 23% are conducting pilot tests and another 18% are in the planning stage.Only 10% of institutions surveyed said they were undecided about stablecoin adoption. “The stablecoin race has become a matter of avoiding obsolescence as customer demand accelerates and use cases mature,” Fireblocks wrote in the report. Current stablecoin adoption among institutional respondents. Source: FireblocksTraditional banks prioritize cross-border payments for stablecoin useAs traditional cross-border systems are hampered by higher costs, delays and other inefficiencies, stablecoins have emerged as a strategic solution in emerging markets’ business-to-business (B2B) settings. The report found that financial institutions, particularly traditional banks, cited cross-border payments as a top priority for using stablecoins. Banks use stablecoins for a competitive advantage, to reduce friction and meet customer expectations. The report found that 58% of traditional banks use stablecoins for cross-border payments, while 28% use the assets to accept payments. Twelve percent of banks use stablecoins to optimize their liquidity, while 9% use them in merchant settlements. Another 9% use them in B2B invoicing. Fireblocks said banks see stablecoins as a “path to modernization.” It said that since the assets are fiat-pegged, it’s easier to integrate them into existing treasury workflows. In addition, stablecoins offer a lever to reclaim market share from financial technology companies and reduce capital lock-up.Stablecoin use case for traditional banks. Source: FireblocksRelated: Stablecoin bill passes in Northern Marianas as House overrides vetoSpeed is cited as the top benefit for stablecoin useThe survey results showed that banks use stablecoins to regain cross-border volume while maintaining existing infrastructure. Financial technology firms and payment gateways use digital assets to gain margin and revenue. Top cited benefits of stablecoin use. Source: FireblocksAmong the benefits cited by survey respondents, faster settlement was most prevalent, mentioned by 48% of participants.Other benefits included greater transparency, better liquidity management, integrated payment flows, enhanced security and lower transaction costs.Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

Central banks are experimenting with smart contracts to implement monetary policy in tokenized environments, signaling a growing interest in integrating blockchain technology into traditional finance (TradFi).According to a joint research study by the Federal Reserve Bank of New York’s Innovation Center and the Bank for International Settlements (BIS) Innovation Hub Swiss Centre, smart contracts could offer central banks flexible, rapid-response tools in a tokenized financial system.The study, dubbed Project Pine, tested a prototype “generic customizable monetary policy tokenized toolkit” for further research by central banks, according to a BIS report published May 15.“The smart contract toolkit was fast and flexible,” the BIS wrote. “In hypothetical scenarios, the central bank was able to add and change tools instantly.”The report emphasized that if tokenization becomes widely adopted for money and securities, smart contracts could play a central role in how monetary policy is executed.Project Pine system overview. Source: BISRelated: Bitcoin more of a ‘diversifier’ than safe-haven asset: ReportThis marks a “first step” in highlighting the potential benefits of tokenization for central banks, according to the BIS.The framework “speed and consistency” was “validated” within a 10-minute hypothetical scenario where central banks quickly changed collateral criteria and exchanged liquid collateral for illiquid amid falling collateral values.The smart-contract framework also allowed central banks to deploy a new facility offering reserves and changing the interest rates on the reserves in an “immediate” implementation.Project Pine, smart contract operations. Source: BISRelated: Coinbase faces $400M bill after insider phishing attackSmart contracts, tokenization may help central banksSmart contracts and tokenization technology may help central banks’ rapid response to “extraordinary events,” the BIS report said:“This speed, coupled with the ability to adjust any of the parameters at any time, gives central banks flexibility in responding to unforeseen events and fast-moving crises.”While promising, the report also acknowledged that central banks will likely face infrastructure challenges, as most existing systems are not designed for these advanced use cases.Smart contract testing scenario. Source: BISProject Pine employed Ethereum’s ERC-20 token standard combined with another standard for “access control.”Financial institutions have increasingly embraced tokenization in recent years.At the Consensus 2025 conference, Joseph Spiro, product director at DTCC Digital Assets, called stablecoins the “perfect” financial instrument for real-time collateral management for financial transactions such as loans or derivatives.Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

Key takeaways:Bitcoin price consolidates as resistance at $105,000 prevents a rally to new all-time highs.Traders are slightly bearish, but historical data suggests a sudden bullish move should not be ruled out.Bitcoin (BTC) price has been consolidating within a roughly $3,500 range over the past seven days as the $105,000 level remains the overhead resistance to break.BTC/USD weekly chart. Cointelegraph/TradingViewBitcoin unable to crack $105,000Data from Cointelegraph Markets Pro and Bitstamp shows that BTC’s price has been oscillating between its resistance level at $105,000 and $101,500, where it has found support.“$BTC is stuck in a narrowing $101.5K–$104K range,” said Swissblock in a May 16 post on X. The onchain data provider said that Bitcoin began consolidating after two failed attempts to break above the resistance at $105,000. “With the weekend ahead, resolution will likely be delayed, unless we get a Friday break.”BTC/USD chart. Source: SwissblockFor market intelligence firm Santiment, failure to rise past the $105,00 level has seen traders flip slightly bearish. “Markets generally tend to move opposite to the crowd’s expectations, suggesting there is a heightened probability of crypto markets rising due to this increased fear,” the firm explained in an X post, adding:“Retail traders are beginning to show impatience, which historically is a bullish sign for prices.”Bitcoin social volume. Source: SantimentBTC price lacks “serious catalyst”Bitcoin has managed to sustain $100,000 as support for over a week while hitting 14-week highs of $105,700 on May 12. Despite following broad volatility across risk assets, BTC/USD might have gone even higher were it not for maneuvers of large-volume trading entities on exchange order books, according to trading resource Material Indicators.Related: Bitcoin hitting $220K ‘reasonable’ in 2025, says gold-based forecastLooking at the Binance exchange, Material Indicators said large blocks of ask liquidity were stacked above the spot price, pinning the BTC price in the range.An accompanying chart shows that these liquidity clusters currently sit between $105,000 and $110,000.“Unless we have a serious catalyst, I’m not expecting to see a sustainable breakout to the all-time high territory until BTC has a legit support test at $100,000,” it said in a May 16 post on X.  BTC/USDT order book liquidity data. Source: Material IndicatorsMaterial Indicators added that a key level to watch on the downside was the $98,000-$100,000 range.“With all of the above in mind, be prepared for a support test in the $98,000-$100,000 range, but beware of short squeezes and bull traps until that happens.”Bitcoin bulls fight to hold key support levelsMeanwhile, trader Daan Crypto Trades said that the “start of the recent move” at $93,000 was essential for Bitcoin traders going forward.Bitcoin is trading “far away from any large liquidity clusters. The price didn’t trade for a long time up here just yet. So, after the initial squeeze of shorts, there are not that many new positions built up around this area,” his X post said, adding:“The main level to look out for would be local highs above $106,000 and below all the way down to $93,00, which was the start of the recent move.”BTC/USDT liquidation heatmap. Source: Daan Crypto TradesMaterial Indicators paid additional attention to the 50-day and 100-day simple moving averages (SMAs), key longer-term trendlines that formed a bullish cross, indicating a “strong upward momentum for the macro trend.”For MN Capital founder Michael van de Poppe, $98,000 is a “crucial area to hold on to” in order to ensure continuation upward.Source: Michael van de PoppeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bringing student loans onchain would increase the total value locked (TVL) in decentralized finance (DeFi) by more than four times, supercharging the industry, according to Yat Siu, chairman of Animoca Brands.Speaking at Consensus 2025 in Toronto, Siu pointed to the $3 trillion global student loan market as an untapped opportunity for the crypto industry. He said moving even 10% of that market onchain could significantly boost DeFi’s growth.“You basically more than quadruple TVL in all of DeFi,” he said, underscoring how the industry is still in its early stages. Consensus chairman Michael Lau (left) with Animoca Brands chairman Yat Siu (right) at the Consensus mainstage in Toronto, Canada. Source: CointelegraphWeb3-based education tools to drive crypto adoptionSiu said that Web3-based financial tools for the education sector could drive mass crypto adoption, especially among the young and unbanked.“The first unbanked are the kids,” he said. “If a student receives a loan onchain and pays it back onchain — which is regulated, better, faster, cheaper — they become onboarded for crypto for life.” Siu compared the situation to how PayPal and Venmo scaled by offering essential services to underserved users. He suggested that student loans could serve as crypto’s entry into the mainstream.The executive also highlighted Animoca Brands’ recent investment in Pencil Finance, a startup providing crypto-native student loans. Siu said the project operates in the Philippines and Indonesia, and plans to expand to the US. On April 30, Pencil Finance announced a $10 million student loan financing initiative to provide cheaper, blockchain-backed loans. Siu previously said in an interview that the industry needs these “positive-sum use cases” that everyone understands. He said students would be more pro-crypto if they had more opportunities through crypto loans. Related: NFT founder stole millions from Bitcoin project, investors allegeEducation is a natural Web3 use caseSiu also told the Consensus audience that education is a natural use case for Web3. He highlighted YouTube and TikTok, platforms that are often dismissed as entertainment applications. Siu said these social media apps are now the largest informal learning platforms in the world. He said everything is tied to education and that Web3 could do something similar. “Education is actually fundamental, something we do all the time,” Siu said. He suggested that by integrating financial infrastructure into educational experiences, Web3 could turn learning communities and reputational networks into capital assets, forming the basis of a new, decentralized financial ecosystem.Magazine: Binance Wallet ‘killing’ MetaMask and airdrops, Chinese RWA tokens: Asia Express

Key takeaways:XRP is retesting a falling wedge breakout, which could lead to a rally toward $3.60.Whale wallets are in the red, and history shows this isn’t bullish for XRP price.A breakdown below $1.11 could trigger an inverse cup-and-handle pattern, targeting a sharp drop to $0.50.XRP (XRP) has rebounded by more than 50% in the last five weeks to reach $2.42 on May 16. But the price remains 30% below its January 2025 peak of $3.40, raising concerns of a bull trap.Will XRP’s price sustain the recovery or drop further in the coming days? Let’s examine.Falling wedge retest hints at sharp XRP rally XRP is completing a textbook retest of its falling wedge breakout, according to chartist CW. Often, after the breakout, the price comes back down to “retest” the wedge’s upper trendline. If it holds as support, meaning buyers step in and prevent the price from falling back into the wedge, it signals strong demand and renewed confidence in the uptrend.XRP/USD three-day price chart. Source: TradingViewCW predicts XRP will hold above its falling wedge’s upper trendline, which could help its prices climb higher toward the technical upside target of $3.60. Related: History rhymes? XRP price gained 400% the last time whale flows flippedThis target is obtained by adding the wedge’s maximum height to the breakout point, as shown below.XRP/USD three-day price chart. Source: TradingViewThe wedge setup suggests that XRP will likely not crash in the coming days. But if the price drops below the wedge’s upper trendline, the bullish setup risks invalidation, exposing XRP to declines toward the lower trendline at around $1.75.Max pain scenario: 50% XRP price crashSimultaneously, XRP is possibly signi a bearish reversal signal as it forms an inverse cup-and-handle pattern.The pattern has developed over the past five months, with the rounded "cup" forming between December 2024 and March 2025, followed by the "handle" consolidation into May. The neckline support sits near $1.11. XRP/USD three-day price chart. Source: TradingViewA confirmed breakdown below this level could validate the pattern and trigger a deeper correction.Based on the pattern’s height, the projected downside target is around $0.50, a nearly 80% drop from current levels. The declining volume during the handle phase and the neutral RSI reading near 50 further support the risk of bearish continuation.XRP’s whale fractal indicates price drop below $1As of May 15, the XRP price is below the $2.58 average paid by its biggest holders—those holding over 10,000 XRP in their wallets.XRP realized price by wallet size. Source: GlassnodeWhen XRP whales are in the red, the price often rebounds toward their average buy level, but this bounce can be short-lived. Historically, it’s followed by a broader pullback that tests the average entry prices of smaller holders.For example, in September 2021, XRP briefly rose to $1.19, just above the whale realized price of $1.01. But soon after, it dropped below $1.10, retesting the entry levels of other wallet groups as support.XRP realized price by wallet size. Source: GlassnodeIt shows that realized prices act as magnets for price action, indicating XRP could rise toward the whale realized prices of $2.58 in the short term.In the worst-case scenario, XRP’s price can drop to $0.67, the realized price of the 1,000-10,000 XRP balance cohort. Taking the aggregated realized price, XRP’s target appears to be around $1.04.On the other hand, a continued rally above $2.58 will suggest bullish conviction among whales, which could be boosted by the launch of spot XRP ETFs in the US.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.