OKX founder and CEO Star Xu has publicly defended the crypto exchange after Tron founder Justin Sun accused it of failing to act on a law enforcement request to freeze stolen funds following a recent hack of Tron’s official X account.“OKX also has consumers protection policy according to law, we can’t freeze a customer’s funds according to your personal X post or an oral communication. I think you should understand it as the CEO of HTX,” Xu said in an X post.OKX says there is no communication in the spam box, eitherXu said that the crypto exchange had not received any related correspondence through OKX’s official channels. “Our LE cooperation team just checked the email, including the spam box; we haven’t received any request related with this case,” Xu said.Source: Star XuIn what is now an unavailable X post, but was screenshotted by Xu, Sun had earlier claimed that OKX has not responded to a “freeze notice” sent to its official email address from a “relevant law enforcement agency.” Sun said that he had no other way to contact OKX’s compliance department.“These stolen funds do not belong to me; I’m acting to protect the community,” Sun said. On May 3, Tron DAO told its 1.7 million X followers that its account had been compromised. Tron explained that during the breach, an unauthorized party posted a malicious crypto token contract address, sent direct messages, and followed unfamiliar accounts.“If you received a DM from our account on May 2, please delete it and consider it the work of the attacker.”In response to Sun’s claims of inaction, Xu publicly called on him to provide a screenshot showing when and where the law enforcement request was made.The Tron incident is one of several recent security breaches involving high-profile crypto accounts on X.Related: Over 14,500 Tron addresses at risk of silent hijackingKaito AI, an artificial intelligence-powered platform that aggregates crypto data to provide market analysis for users, and its founder, Yu Hu, were the victims of an X social media hack on March 15. The hackers opened up a short position on KAITO tokens before posting that the Kaito wallets were compromised and advised users that their funds were not safe.Just a few weeks before, on Feb. 26, The Pump.fun X account was compromised to promote a fake governance token called “PUMP” and other fraudulent coins.Meanwhile, the X account of UK member of Parliament and Leader of the House of Commons, Lucy Powell, was hacked on April 15 to promote a scam crypto token.Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Today in crypto, Warren Buffett announces he wants to step down as CEO of Berkshire Hathaway by the end of 2025, Arizona Governor Katie Hobbs has vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves, and Apple has eased crypto application rules following a court order.Berkshire Hathaway CEO and notable investor Warren Buffett to step down by the end of 2025Warren Buffett, the CEO and founder of the Berkshire Hathaway investment firm, announced he is stepping down by the end of 2025 and letting his successor Greg Abel, the company's vice chairman of non-insurance operations, take the helm.The decision is still subject to the approval of the company's board of directors. However, Buffett said he was confident that the board would fully back the decision to elevate Abel, who has been groomed for this position for years, to the position of CEO.Speaking at the Berkshire Hathaway annual shareholder meeting on May 3, 2025, Buffett announced his decision:"The time has arrived when Greg should become the Chief executive officer of the company at year-end, and I want to spring that on the directors effectively and give that as my recommendation."Although investors have long anticipated the move, Buffett's announcement officially signals the end of an era at the publicly traded investment company.Buffett speaking at the Berkshire Hathaway annual shareholder meeting. Source: CNBCArizona governor vetoes bill to make Bitcoin part of state reservesArizona Governor Katie Hobbs has vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves, effectively ending efforts to make Arizona the first US state to adopt such a policy.The Digital Assets Strategic Reserve bill, which would have permitted Arizona to invest seized funds into Bitcoin (BTC) and create a reserve managed by state officials, was formally struck down on Friday, according to an update on the Arizona State Legislature’s website.“Today, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments,” Hobbs wrote in a statement aimed at Warren Petersen, the President of the Arizona Senate.Hobbs had previously stated she would veto any legislation not tied to a bipartisan agreement on disability funding.Source: Governor Katie HobbsApple softens crypto app rules, “hugely bullish” for crypto industryCrypto app developers are now free to direct users to payments outside of Apple’s ecosystem without restrictions or hefty fees, after a United States district judge ruled that Apple violated an injunction in its antitrust legal battle against Epic Games.“The Court finds Apple in willful violation of this Court’s 2021 Injunction, which was issued to restrain and prohibit Apple’s anticompetitive conduct and anticompetitive pricing. Apple’s continued attempts to interfere with competition will not be tolerated,” US district judge Yvonne Gonzalez Rogers said in an April 30 court filing.“Effective immediately, Apple will no longer impede developers’ ability to communicate with users, nor will they levy or impose a new commission on off-app purchases,” Rogers added.Rogers reiterated, “This is an injunction, not a negotiation. There are no do-overs once a party willfully disregards a court order. Time is of the essence.”

Warren Buffett, the CEO of publicly traded investment company Berkshire Hathaway, announced at the company's annual shareholder meeting that he will step down by the end of 2025, and his chosen successor will take over as CEO, pending approval from Berkshire's board of directors.According to CNBC, Buffett reiterated that Greg Abel, the company's vice chairman of non-insurance operations, who was previously named by Buffett as his successor, will take over. The Berkshire founder announced:"The time has arrived when Greg should become the Chief executive officer of the company at year-end, and I want to spring that on the directors effectively and give that as my recommendation."Buffett added that he would stay at the company in an advisory role "but the final word would be what Greg decided," the CEO said. Buffett's decision to step down as CEO comes at a time when Berkshire Hathaway is sitting on cash reserves of roughly $348 billion.Buffett speaking at the Berkshire Hathaway annual shareholder conference. Source: CNBCThe legendary stock investor has repeatedly called the growing US national debt unsustainable and issued warnings on the increasingly unstable macroeconomic environment that has taken a toll on the stock market.Related: Galaxy Digital plans Nasdaq listing as crypto stocks post strong reboundBerkshire Hathaway outperforms S&P but is outclassed by BitcoinDespite being renowned for consistently returning roughly double the average performance of the S&P 500 to investors throughout his career, Buffet has failed to outperform Bitcoin (BTC) and gold.Although Berkshire Hathaway's class A common stock carries a price tag of over $809,000, and a market cap of over $1 trillion at the time of this writing, shares of the company have massively underperformed against Bitcoin in percentage terms since 2015.Bitcoin has returned gains of over 781% to investors since 2020, while Berkshire Hathaway only returned approximately 150% over the same period.Bitcoin’s price performance appears in magenta and has outperformed Berkshire Hathaway’s stock in percentage gains. Source: TradingViewBuffett has long been critical of BTC, arguing that the decentralized, supply-capped, digital currency has no value and likened it to a scam on several occasions.The Berkshire founder and his business partner Charlie Munger have repeatedly said that Bitcoin does not even qualify as an investment and should be avoided by traders.Magazine: Bitcoin in Senegal: Why is this African country using BTC?

Bitcoin (BTC) mining firms should hold their mined Bitcoin and use it as collateral for fiat-denominated loans to pay operating expenses instead of selling BTC and losing the upside of an asset that miners expect to surge in price, according to John Glover, chief investment officer at Bitcoin lending firm Ledn.In an interview with Cointelegraph, Glover said that holding onto the BTC carries several benefits including, price appreciation, tax deferment, and the potential to make extra revenue by lending out BTC held in corporate treasuries. The executive added:"If you are mining, you are generating all this Bitcoin. You understand the thesis behind Bitcoin and why it is likely going to continue to appreciate in the future. You do not want to sell any of your Bitcoin."This debt-based approach is similar to companies like Strategy, which issue corporate debt and equity to finance Bitcoin acquisition and profit from the diverging fundamentals of BTC and the fiat currencies the corporate capital raises are denominated in.BTC mining hashprice, a metric used to gauge miner profitability, has collapsed as ever-increasing computing resources are deployed to secure the network. Source: Hashrate IndexBitcoin-backed loans could be a valuable lifeline for miners struggling in the highly competitive industry, which is facing increased pressure due to the ongoing trade tensions brought on by the Trump administration's protectionist trade policies and macroeconomic uncertainty.Related: Riot Platforms secures $100M ‘Bitcoin-backed’ loan from CoinbaseTrade war places even more pressure on beleaguered mining industryThe Bitcoin mining industry is characterized by high competition and capital costs that increase over time as more powerful computing resources are used to mine blocks and secure the network.US President Trump's sweeping trade tariffs have cast a cloud over the already competitive sector, raising fears that import duties will raise the cost of mining equipment, like application-specific integrated circuits (ASICs), to unsustainable levels.Mining firms collectively sold over 40% of their mined supply produced in March 2025 amid the heightened macroeconomic uncertainty and fears that the ongoing trade tensions will cause price increases across the board.According to TheMinerMag, this 40% sell-off marked the reversal of a trend that began post-halving, in April 2024, and represented the highest monthly BTC liquidation among miners since October 2024.Magazine: Korea to lift corporate crypto ban, beware crypto mining HDs: Asia Express

Ethereum’s Ether (ETH) token is approaching a critical price zone against Bitcoin (BTC), which historically marked the beginning of a massive rebound.ETH price fractal from 2019 hints at bottom The ETH/BTC pair, currently trading near 0.019 BTC, is edging closer to 0.016 BTC — the exact level it reached in September 2019 before rallying nearly 450% over the following year.ETH/BTC weekly performance chart. Source: TradingViewThe current ETH/BTC setup resembles 2019, with both periods marked by oversold relative strength index (RSI), long stretches below key moving averages, and multiyear declines.In 2019, ETH/BTC fell over 90% in the prior two years, driven by the ICO collapse. As of 2025, the pair is down over 80% from its 2021 peak, weighed by skepticism over Ethereum’s switch to proof-of-stake (PoS), rising competition, and Bitcoin’s growing dominance as an institutional asset.In response to the growing concerns, Ethereum co-founder Vitalik Buterin has proposed new architecture and protocol-wide standards to make Ethereum simpler, faster, and as maintainable as Bitcoin within five years. Related: Ethereum to simplify crosschain transactions with new token standardsOne analyst called Buterin’s proposal “the most bullish thing for ETH.”The bullish hopes come as ETH/BTC attempts to break free from its multi-year “bearish parabola.” This resistance curve has been instrumental in limiting the pair’s upside attempts since December 2021 but showed signs of exhaustion as of May 3.Edit the caption here or remove the text“We might see an end of this bearish parabola,” wrote chartist Jimie.He noted that if the curved resistance holds, ETH/BTC could drop toward 0.016 BTC — the same level where it bottomed in September 2019 before rallying by roughly 450%.Flush ETH and buy Bitcoin, says Adam BackSkeptics like Bitcoin’s proof-of-work pioneer, Adam Back, argue that Buterin is overlooking deeper design flaws while proposing to simplify Ethereum in the coming years. Back criticizes Ethereum’s account-based system, saying it adds unnecessary complexity compared to Bitcoin’s simpler UTXO (unspent transaction output) model. He argues this growing complexity increases technical risks and makes Ethereum harder to scale and secure.Source: X/Adam BackHe also warns that Ethereum’s shift to PoS has concentrated power among insiders by redirecting miner rewards to large tokenholders.“At this point, just flush ETH before it hits zero and buy Bitcoin,” he wrote, suggesting no upgrade can fix what he views as Ethereum’s flawed foundation.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.