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Your weekly roundup of the 🔥hottest news in crypto:

A Week in Review: NEAR price may ‘grow 20X,’ Bitcoin ETFs post 10-day outflow streak, and other news

May 24 - 30

#1

Spot Bitcoin ETFs see record 10-day outflow streak, analyst calls it ‘contrarian indicator’

Spot Bitcoin exchange-traded funds (ETFs) have logged outflows for ten consecutive trading days, with total net redemptions exceeding $2.97 billion since May 15, a streak that one analyst says may signal a market bottom is near.

According to data from SoSoValue, daily outflows ranged from $70 million to $733 million across the period, with the steepest single-day exodus recorded on Wednesday at $733.43 million. Total net assets held across spot Bitcoin (BTC) ETFs have dropped from $104.29 billion on May 15 to $94.17 billion as of Friday, a decline of roughly $10 billion in two weeks.

The current streak broke the previous record of eight consecutive outflow sessions, which was recorded in early last year and saw $3.2 billion in withdrawals, on Thursday, before extending to 10 days on Friday.

Get the full story

#2

US has seized nearly $1 billion in Iranian crypto, Treasury secretary says

The United States has seized roughly $1 billion in Iranian crypto assets, Treasury Secretary Scott Bessent said Friday, adding that some of the wallet owners may not yet know the funds are gone.

“I believe that we have seized about a billion dollars of their crypto,” Bessent said while speaking at the Reagan National Economic Forum. “Just outright grabbed the wallets. Some of them may be typing in right now and not have realized that their wallet had been grabbed,” he added.

Bessent said the seizures are part of the US financial pressure campaign against Iran, known as Operation Economic Fury. Launched in March 2025, the operation has targeted Iranian assets across multiple fronts, seizing cryptocurrency, freezing bank accounts and working with European allies to confiscate properties.

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#3

Texas Bitcoin reserve plans shift from ETF to direct BTC custody

Texas is seeking a custody and liquidity provider to help move its Strategic Bitcoin Reserve from BlackRock’s iShares Bitcoin Trust (IBIT) spot Bitcoin exchange-traded fund (ETF) into directly held coins, according to a state procurement document.

The move, posted May 7 and announced in a Thursday release from the Texas Comptroller’s office, would move Texas closer to directly held Bitcoin through a third-party custody arrangement rather than relying solely on ETF exposure, marking a shift from ETF exposure to direct onchain ownership.

Texas has allocated $10 million to the Strategic Bitcoin Reserve, which the state has used to buy IBIT as an interim way to hold the funds before shifting to directly custodied Bitcoin, according to the request for proposals document.

Prediction of the week

NEAR token price has 'potential to grow 20x,' says Arthur Hayes

Near Protocol's native token, NEAR, has the potential to grow 20x by 2027, according to Arthur Hayes, co-founder of the crypto derivatives exchange BitMEX.

Speaking on The Rollup podcast, Hayes said NEAR’s bullish case rests on NEAR Intents, a feature that lets AI agents move assets privately across blockchains without dealing with bridges, multiple wallets or fragmented liquidity.

The same infrastructure also supports NEAR’s broader AI-agent thesis, where autonomous apps can execute payments and trades on-chain.

Hayes linked NEAR’s upside to Zcash (ZEC), the privacy-focused cryptocurrency that has rallied more than 1,000% over the past year and revived investor interest in private money.

FUD of the week

US charges Google employee with insider trading bets on Polymarket

US authorities have charged a Google employee with allegedly using information from the company to make bets on Polymarket and profit $1.2 million.

The Justice Department said on Wednesday that it unsealed charges against Google software engineer Michele Spagnuolo, accusing him of accessing unreleased internal information at Google and placing 25 bets worth $2.7 million on markets related to the most searched individuals on Google in 2025.

Prosecutors said Spagnuolo owned the Polymarket account “AlphaRaccoon”, which profited $1.2 million on “outcomes that the market treated as unlikely” when Google published information on the most searched individuals in December.

The Commodity Futures Trading Commission filed a twin complaint against Spagnuolo on Wednesday, making similar allegations of insider trading.

FUD of the week

Crypto card monthly transaction volume surges 230% from 2025

Monthly payment volume on crypto-linked debit and credit cards is up about 230% over last year, amid a proliferation of crypto-related payment products.

Cumulative volume on crypto-linked payment cards reached $7.8 billion this month, according to The Kobeissi Letter, a market research publication.

Payments giant Visa is capturing about 90% of crypto card transactions through partnerships with onchain native companies like Jupiter Global, analysts at The Kobeissi Letter said.