16th May

You can read last week's “This week in crypto” here.

Coinbase Global is set to join the S&P 500 index on 19 May 2025, replacing Discover Financial Services following its acquisition by Capital One. This inclusion signifies a major milestone for the cryptocurrency industry, reflecting growing institutional acceptance. The announcement led to a 24% surge in Coinbase's stock price, reaching $256.90, although still below its November 2021 peak of $357.39.

Analysts view this development as a "watershed moment" for both Coinbase and the broader crypto sector. Oppenheimer analysts raised their stock target to $293, citing increased investor confidence and the company's solid market position. The inclusion in the S&P 500 is expected to attract more institutional investors, further legitimising the cryptocurrency market.

The move also underscores the shifting landscape of financial markets, where digital assets are gaining prominence. With a market capitalisation of $52.78 billion, Coinbase's entry into the S&P 500 reflects the growing significance of crypto-related companies in the global economy.

Meta Platforms is reportedly revisiting its cryptocurrency ambitions by exploring the deployment of stablecoins on its platforms, Facebook and WhatsApp. This initiative comes three years after the company shelved its Diem (formerly Libra) project due to regulatory challenges. Meta is in early discussions with crypto infrastructure firms to facilitate stablecoin payments, aiming to support content creators on its platforms.

Rather than developing its own stablecoin, Meta is considering integrating existing ones like USDC and USDT. This approach allows the company to leverage established digital currencies while potentially avoiding the regulatory hurdles that plagued its previous efforts. The focus is on enabling seamless payments for creators, enhancing monetisation opportunities within Meta's ecosystem.

This renewed interest in stablecoins reflects Meta's evolving strategy in the digital payments space. By incorporating stablecoins, Meta aims to provide more flexible and efficient payment solutions, aligning with the broader trend of integrating cryptocurrencies into mainstream financial services.

France is currently grappling with a disturbing increase in violent crimes targeting individuals associated with the cryptocurrency industry. At least seven high-profile cases have been reported in 2025, involving kidnappings, assaults, and ransom demands. Victims have included prominent crypto entrepreneurs and their family members, highlighting the growing risks faced by those in the digital asset space.

One particularly harrowing incident occurred on 13 May 2025, when the daughter and grandson of a French cryptocurrency CEO were targeted in a kidnapping attempt in Paris's 11th arrondissement. Three masked assailants attempted to force the woman and her child into a white van in broad daylight. The woman's husband intervened, sustaining injuries in the process. A local bicycle shop owner, identified as Nabil, also came to their aid, using a fire extinguisher to thwart the attackers, who ultimately fled the scene.

This incident is part of a broader trend of crypto-related crimes in France. In a separate case earlier in May, the father of a cryptocurrency millionaire was kidnapped and held for ransom. The victim was mutilated, with one of his fingers severed, before being rescued by police in a nighttime raid south of Paris . These crimes underscore the vulnerabilities faced by individuals in the crypto sector, particularly given the perceived anonymity and liquidity of digital assets.

French authorities are responding to this surge in crypto-related crimes with increased urgency. Interior Minister Bruno Retailleau has pledged stronger protective measures and enhanced collaboration between law enforcement and crypto entrepreneurs. The government aims to raise awareness of the risks and implement strategies to safeguard individuals involved in the cryptocurrency industry.

In the United States, the Securities and Exchange Commission (SEC) is undertaking a significant overhaul of cryptocurrency regulations. SEC Chair Paul Atkins announced plans to establish clear guidelines for crypto tokens classified as securities, aiming to provide a rational framework that promotes lawful issuance, custody, and trading of crypto assets while deterring misconduct.

The SEC's initiative includes considerations for adjustments that would allow registered broker-dealers with an Alternative Trading System (ATS) to trade non-securities like Bitcoin and Ethereum. This move aligns with President Donald Trump's pro-crypto stance and represents a shift from the regulatory enforcement approach under the previous administration. Under the new leadership, the SEC has agreed to withdraw or pause several enforcement cases against prominent crypto firms, including Coinbase and Kraken.

Commissioner Hester Peirce is leading the task force responsible for developing the new rules and guidance. The SEC's efforts aim to resolve longstanding conflicts between regulators and the crypto industry over the classification and treatment of digital assets. By providing clearer regulations, the SEC seeks to foster innovation while ensuring investor protection and market integrity in the rapidly evolving cryptocurrency landscape.

This week's developments underscore the cryptocurrency sector's dynamic evolution. Coinbase's inclusion in the S&P 500 marks a significant milestone, reflecting the industry's growing integration into mainstream finance. Meta's renewed interest in stablecoin integration for platforms such as Facebook and WhatsApp signals a potential resurgence in corporate crypto initiatives. However, the alarming rise in crypto-related crimes in France highlights the security challenges accompanying digital wealth. Simultaneously, the US Securities and Exchange Commission's plans to establish clear guidelines for crypto tokens classified as securities indicate a shift toward more structured regulatory frameworks. Collectively, these events illustrate the cryptocurrency landscape's rapid maturation, balancing innovation with the imperative for security and regulation.

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