Predicts that Bitcoin will meet huge demand growth before halving. The news sparked heated discussions among social media users, with some expressing support and others questioning its authenticity.

Bitcoin has risen by approximately 5% in late-afternoon market trading following the announcement of a lawsuit against Coinbase by the SEC. This increase largely reverses the value lost after the SEC filed a lawsuit against Binance and its American arm.

Bitcoin pumps over 5% after SEC goes after #Binance and<i> </i>#Coinbase in recent crackdown on centralized crypto exchanges.

NEW: Over 400 merchants are now accepting #Bitcoin Lightning payments in the Philippines&nbsp;

Bitcoin (BTC) saw a rebound in its price, reaching $26,250 on Bitstamp, after dipping to nearly three-month lows of $25,350 earlier in the day due to news of the U.S. Securities and Exchange Commission (SEC) suing exchange Coinbase. However, traders remain cautious about potential risks, such as the U.S. government selling BTC or a potential recession. Despite the legal action from regulators, some analysts see cause for renewed optimism, with one trader arguing that the news could mark the low of the correction and another announcing a BTC buy-in below $26,000. The mood among market participants remains positive, with some expecting a broader resurgence in the future.

Bitcoin advocate Pierre Rochard has suggested that Coinbase should shift its focus back to Bitcoin, the original cryptocurrency, after the company's recent IPO and diversification into other cryptocurrencies. Rochard argues that Bitcoin is the most important cryptocurrency and that Coinbase's success is largely due to its early focus on Bitcoin.

Meanwhile, a life insurer that only deals in Bitcoin and is powered by A.I., has raised $19 million in seed funding to help deceased Bitcoin users pay out their loved ones in crypto.

El Salvador's foray into the world of Bitcoin has been making headlines since its announcement. The government's aggressive investment strategy, aimed at contributing to the nation's wealth, is starting to show promising results. Instead of making large, one-off purchases of Bitcoin, El Salvador is now buying one Bitcoin per day, using a strategy of dollar-cost averaging into the market.

Goldman Sachs has reported that on-chain statistics for May present a mixed outlook for bitcoin and ether adoption. While there have been few changes to ether balances across cohort groups, bitcoin addresses with balances of over 100,000 BTC have seen a 31% monthly decrease.

The crypto market capitalization dropped by 3.6% after the SEC filed a lawsuit against Binance for allegedly allowing US users to access their platform and conducting unregistered crypto sales. The lawsuit caused a negative reaction in the market, with Bitcoin and Ethereum losing 4.2% and 3.1%, respectively.