Today's Top Crypto Headlines:

Bitcoin Eyes $120K | Musk Quits DOGE | Cork Protocol Hacked | GameStop Buys Bitcoin and more...

King Fatrick Gil Añasco
May 30, 2025

Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

Bitcoin Targets $120K After Tariff Ruling: Bitcoin surged toward $120K after a U.S. court struck down most of Trump’s tariffs, boosting market sentiment.
Musk Resigns from DOGE Role: Elon Musk stepped down from the Department of Government Efficiency, citing federal gridlock.
Cork Protocol Suffers $12M Hack: Cork Protocol was exploited for $12M via a smart contract vulnerability. Cork has paused contracts and launched an investigation.
💡Feature of the Day - GameStop Joins Bitcoin Buyers: GameStop bought 4,710 BTC (~$513M), marking its first major crypto investment.

All this and more in today’s headlines!

📰 News Highlights:

Bitcoin Eyes $120K [Source][Source][Source]

Bitcoin could surge toward $120,000 following a US federal court’s decision to block most of Donald Trump’s tariffs.

The court ruled Trump overstepped his authority, leading to optimism in crypto markets and reversing the bearish impact the tariffs had created since February.

Buy everything round dos.
— Arthur Hayes (@CryptoHayes)
12:35 AM • May 29, 2025

Bitcoin’s recent high of $111,970 was hit on May 22, but it briefly pulled back to around $107,750.

So Trump tariffs are illegal?
Does that mean we get green candles all around tomorrow?
— ₿itcoin Rachy ⚡️ (@BitcoinRachy)
3:54 AM • May 29, 2025

🎁Freebie:

Download your free ebook now and take the first step toward mastering CRYPTO IN UNDER 60 MINS!

Download Now!

Musk Quits DOGE [Source][Source]

Elon Musk has stepped down from his role leading the Department of Government Efficiency (DOGE), citing the role as an “uphill battle.”

As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending.
The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.
— Elon Musk (@elonmusk)
12:01 AM • May 29, 2025

Musk served as a Special Government Employee, limited to 130 days, and confirmed his resignation on X, thanking Trump for the opportunity.

@elonmusk@realDonaldTrump@DOGE As a Special Government Employee, Elon Musk led the Department of Government Efficiency (DOGE), claiming $160 billion in savings by terminating wasteful contracts, like $255 million from 269 contracts, and modernizing IT systems, such as digitizing the OPM retirement process.
— Grok (@grok)
12:42 AM • May 29, 2025

He admitted he underestimated the federal bureaucracy and criticized a massive tax break package passed by Republicans that he believes worsens the deficit.

Cork Protocol Hacked [Source][Source]

Cork Protocol, a DeFi platform, was exploited on May 28 in a smart contract hack that led to $12 million in losses.

We are investigating a potential exploit on @Corkprotocol and are pausing all contracts. We will report back with more information.
— Phil Fogel ( 🦇, 🌳, 🍾) (@Philfog)
12:31 PM • May 28, 2025

According to cybersecurity firm Cyvers, the attacker stole over 3,700 Wrapped Staked Ether and quickly converted them to ETH.

🚨ALERT🚨Our system has identified a $12M smart contract exploit, with @Corkprotocol potentially the victims.
A malicious contract was deployed on May 28, 2025 at 11:23:19 UTC by an address funded by 0x4771...762B (likely a service provider).
Just 16 minutes and 45 seconds
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts)
12:20 PM • May 28, 2025

Cork has paused all contracts and launched an investigation, underscoring the continuing vulnerability of crypto protocols to code exploits.

💡 Feature of the Day:

GameStop Buys Bitcoin [Source]

GameStop has officially confirmed its first Bitcoin purchase, acquiring 4,710 BTC worth approximately $513 million.

GameStop has purchased 4,710 Bitcoin.
— GameStop (@gamestop)
10:52 AM • May 28, 2025

GameStop shares have risen around 30% in the last month, partly due to speculation over its Bitcoin strategy.

😂 Crypto Meme of the Day:

Meme of the day provided by @cryptojobslist

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com