Good Morning Crypto Enthusiasts!

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

1. Donald Trump Wants US to be #1 in Crypto: Former U.S. President Donald Trump has expressed his ambition for the United States to lead the cryptocurrency industry, rejecting a secondary position. Trump plans to foster a crypto-friendly environment if re-elected in 2024, including pardoning Silk Road founder Ross Ulbricht and supporting self-custody of crypto assets.

2. Cristiano Ronaldo 4th NFT Collection: Cristiano Ronaldo announced the launch of his fourth NFT collection in collaboration with Binance, debuting on May 29. This collection celebrates his football career and offers fans digital engagement opportunities.

3. Normie Memecoin Hacked: The Normie (NORMIE) memecoin team is negotiating with a hacker who exploited a smart contract vulnerability, causing the token's market cap to drop from $42 million to $200,000 in three hours. The hacker offered to return 90% of the stolen funds under certain conditions, including using the remaining funds to launch a new token to reimburse NORMIE holders.

4. 💡Feature of the Day - BTC Price Predicted to Break $70K: Bitcoin's price remains in consolidation below $70,000, with analysts predicting it may take weeks to break this threshold. BTC/USD reached $69,500 on May 26 before pulling back, staying within resistance zones. Analysts like Daan Crypto Trades and Keith Alan stress the importance of flipping $69,000 to support for a move to $73,000.

   
   All this and more in today’s headlines!

📰 News Highlights:

Donald Trump Wants US to be #1 in Crypto [Source][Source][Source]

Former U.S. President Donald Trump has stated that the United States must lead the cryptocurrency industry, refusing to accept a "second place" position. On May 25, Trump expressed his openness to crypto on Truth Social, emphasizing his support for the burgeoning sector and criticizing President Joe Biden for allegedly wanting to stifle it.

Trump’s remarks come ahead of his speech at the Libertarian Party’s National Convention in Washington, where he promised to foster a crypto-friendly environment if re-elected in 2024.

Trump’s pro-crypto stance includes plans to pardon Silk Road founder Ross Ulbricht and to ensure the U.S. remains a leader in the digital asset space. He pledged to support self-custody of crypto assets and protect holders from regulatory crackdowns. This is a notable shift from his previous critical view of Bitcoin during his presidency.

Trump also announced that his campaign will accept cryptocurrency donations through Coinbase Commerce, highlighting his commitment to integrating crypto into mainstream politics. According to Polymarket, Trump currently has a 56% chance of winning the 2024 election, compared to Biden’s 37%.

Cristiano Ronaldo 4th NFT Collection [Source][Source][Source]

Portuguese football superstar Cristiano Ronaldo has announced the launch of his fourth NFT collection in partnership with Binance, set to debut on May 29. This new collection, which will be available on the Binance NFT Marketplace, celebrates Ronaldo's illustrious career and offers fans a chance to engage with his legacy through digital assets.

Despite the excitement surrounding this release, Ronaldo faces a class-action lawsuit in the U.S. for allegedly promoting unregistered securities through previous NFT sales with Binance.

Plaintiffs claim Ronaldo should have known about Binance’s legal issues, which recently culminated in founder Changpeng Zhao’s conviction for enabling fraud and money laundering. These legal challenges, however, have not deterred Ronaldo and Binance from continuing their collaboration.

Ronaldo’s previous NFT collections have included unique perks such as opportunities to play football with him, adding significant value beyond the digital realm.

Normie Memecoin Hacked [Source][Source][Source]

The team behind the Base memecoin Normie (NORMIE) is in negotiations with a hacker who exploited a smart contract vulnerability, causing the token's market cap to plummet from $42 million to $200,000 in just three hours.

The hacker offered to return 90% of the stolen funds if the team agreed to certain conditions, including using the remaining funds to launch a new token to reimburse NORMIE holders. The Normie team accepted the offer and is working to meet the hacker’s demands while recovering from the exploit.

Normie’s team communicated via a new Twitter account after their original account was suspended, stating plans to relaunch the token once they regain control of their social media and secure the stolen funds.

However, the hacker has insisted that the new token be launched before any funds are returned, highlighting concerns over the proper use of the developer’s wallet funds.

💡 Feature of the Day: 

BTC Price Predicted to Break $70K [Source][Source][Source]

Bitcoin’s price remains in consolidation below $70,000, with analysts predicting that it may take several more weeks before it breaks this threshold. BTC/USD reached $69,500 on May 26 before pulling back, staying within familiar resistance zones. Analysts like Daan Crypto Trades and Keith Alan emphasize the importance of flipping $69,000 to support for a potential move to $73,000.

Market observers note that liquidity is building up around the $68.3K and $69.8K levels, which could lead to a liquidity raid. However, the upcoming Memorial Day holiday in the U.S. may reduce market activity, delaying significant price movements.

Rekt Capital, another prominent analyst, highlighted that Bitcoin has exited the post-halving “danger zone,” but consolidation between $60,000 and $70,000 could continue.

Despite the near-term uncertainty, Bitcoin’s long-term outlook remains bullish.

😂 Crypto Meme of the Day: 

And that’s it for this today.

With all of the recent hacks taking place, remember to protect your crypto assets with today’s sponsor Trezor hardware wallets.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com