Bitcoin reportedly hit an all-time high of $109,730 Wednesday (May 21), driven in part by the Monday (May 19) news that a stablecoin bill advanced in the U.S. Senate.

The cryptocurrency reached its previous record high around the Jan. 20 inauguration of President Donald Trump, which heightened the market’s hopes for regulatory clarity around crypto, Bloomberg reported Wednesday.

Bitcoin has also benefited from some investors’ belief that it offers a haven from financial market turmoil, from some companies stockpiling the token, and from the greater variety of bitcoin exposure available to investors, according to the report.

The crypto industry-backed bill in the Senate is set for debate and could pass as soon as this week, per the report.

“It’s the shift of approach from [former Securities and Exchange Commission Chair Gary Gensler and the SEC] to this Trump administration, which has embraced our industry,” Michael Novogratz, founder and CEO of Galaxy Digital, told Bloomberg TV Wednesday. “That freed up the animal spirits both here and abroad.”

The Senate voted to advance the country’s first stablecoin legislation, the GENIUS Act, an acronym for Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 Act, on Monday after weeks of political back-and-forth, PYMNTS reported Tuesday (May 20).

“Tonight’s vote is a welcome and long-overdue step toward asserting U.S. leadership in digital assets,” Senate Banking Committee Chairman Sen. Tim Scott, R-S.C., said in a press release. “After playing politics, I’m glad many of my Democratic colleagues have returned to the table and are supporting a bipartisan product they helped shape. By moving forward on the GENIUS Act, we are one step closer to delivering a regulatory framework that keeps innovation in America, protects consumers, and safeguards our national security.”

After hitting its previous record high in January upon Trump’s inauguration, the price of bitcoin fell by as much as 30% when new tariffs led to a market downturn.

However, it rose back above the $100,000 mark for the first time in three months on May 8 amid anticipation for a relaxation of global tariff-related tensions following a new trade deal.

“It just speaks to the large amount of demand for digital assets in the industry, and especially bitcoin,” Cosmo Jiang of Pantera Capital told Bloomberg at the time.

Deus X Pay, an institutional stablecoin payment solution setting new standards across the luxury sectors, is now enabling crypto payments for property purchases at the new Trump Tower Dubai, the first Trump International Hotel to be built in the Middle East.

The new $1 billion Trump Tower Dubai, unveiled through partnership with London-listed Dar Global,marks a breakthrough in global luxury real estate. Eric Trump, Executive Vice President of the Trump Organisation and son of US President Donald Trump, has recently announced that Bitcoin and other digital currencies will be accepted for condo sales.

Ziad El Chaar, CEO of Dar Global, said the Trump Tower Dubai is among the most ambitious Trump-branded residential towers globally, reflecting the project’s magnitude, stature, and symbolic significance in the region and internationally.

Trump previously told Gulf Business that Dubai is where luxury real estate and financial innovation intersect, and projects like Trump Tower Dubai are leading the way. By embracing technologies like stablecoins, buyers gain a faster, cheaper and more transparent way to secure exclusive, high-end properties while reshaping how luxury transactions are conducted.

Deus X Pay, a licensed Virtual Asset Service Provider (VASP) in Lithuania, offers institutional stablecoin payment solutions, enabling luxury sectors such as real estate, aviation and yachting to capitalise on this new era of finance. Deus X Pay CEO, Richard Crook, highlights that Dubai has created an environment where stablecoins can flourish as a practical, secure tool for international transactions (with Crypto Watch reporting that crypto adoption in the UAE is expected to surge 210% in 2025), giving premium buyers faster, frictionless access to high-value assets.

“Dubai’s forward-thinking stance has unlocked a whole new economy, and the gold standard for transactions of high-value assets. International buyers seek faster settlements, fewer cross-border complications and seamless access to premium developments. This project is a defining moment — not just for Deus X Pay, but for the global real estate sector. We are thrilled to deliver the regulated rails that make it possible for premium property buyers to transact instantly, compliantly and without the traditional delays or friction.”

The Trump Tower Dubai, an 80-story architectural icon, offers the highest international standards for ultra-high-net-worth travellers and long-stay residents. The exclusive building boasts 2-3 bedroom apartments and 4-bedroom penthouses valued at over AED 73 million, the highest outdoor swimming pool in the world, and has views of the world’s tallest building, the Burj Khalifa.

This new skyscraper is part of an expanding trend across private aviation, superyachts, and luxury collectables as high-end sectors embrace digital assets as a payment option to future-proof legacy industries.

About Deus X Pay

Deus X Pay is a regulated provider of institutional stablecoin payment solutions, revolutionising the authorisation, clearing, and settlement of cryptocurrency payments. We enhance global payment options for institutions, businesses, and corporations by seamlessly merging traditional finance with advanced digital payment infrastructure, enabling faster, more cost-effective, and secure transactions.

Fully compliant and regulated as a Virtual Asset Service Provider, Deus X Pay operates under a license in Lithuania, supervised by the Financial Crime Investigation Service (FNTT), the Czech Republic, supervised by the Financial Analytical Office (FAU), and in Canada, supervised by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

As a part of the innovative crypto investment firm Deus X Capital, we equip organisations with state-of-the-art financial tools aimed at fostering growth and success in today’s dynamic market.

Deus X Pay, an institutional stablecoin payment solution setting new standards across the luxury sectors, is now enabling crypto payments for property purchases at the new Trump Tower Dubai, the first Trump International Hotel to be built in the Middle East.

The new $1 billion Trump Tower Dubai, unveiled through partnership with London-listed Dar Global,marks a breakthrough in global luxury real estate. Eric Trump, Executive Vice President of the Trump Organisation and son of US President Donald Trump, has recently announced that Bitcoin and other digital currencies will be accepted for condo sales.

Ziad El Chaar, CEO of Dar Global, said the Trump Tower Dubai is among the most ambitious Trump-branded residential towers globally, reflecting the project’s magnitude, stature, and symbolic significance in the region and internationally.

Trump previously told Gulf Business that Dubai is where luxury real estate and financial innovation intersect, and projects like Trump Tower Dubai are leading the way. By embracing technologies like stablecoins, buyers gain a faster, cheaper and more transparent way to secure exclusive, high-end properties while reshaping how luxury transactions are conducted.

Deus X Pay, a licensed Virtual Asset Service Provider (VASP) in Lithuania, offers institutional stablecoin payment solutions, enabling luxury sectors such as real estate, aviation and yachting to capitalise on this new era of finance. Deus X Pay CEO, Richard Crook, highlights that Dubai has created an environment where stablecoins can flourish as a practical, secure tool for international transactions (with Crypto Watch reporting that crypto adoption in the UAE is expected to surge 210% in 2025), giving premium buyers faster, frictionless access to high-value assets.

“Dubai’s forward-thinking stance has unlocked a whole new economy, and the gold standard for transactions of high-value assets. International buyers seek faster settlements, fewer cross-border complications and seamless access to premium developments. This project is a defining moment — not just for Deus X Pay, but for the global real estate sector. We are thrilled to deliver the regulated rails that make it possible for premium property buyers to transact instantly, compliantly and without the traditional delays or friction.”

The Trump Tower Dubai, an 80-story architectural icon, offers the highest international standards for ultra-high-net-worth travellers and long-stay residents. The exclusive building boasts 2-3 bedroom apartments and 4-bedroom penthouses valued at over AED 73 million, the highest outdoor swimming pool in the world, and has views of the world’s tallest building, the Burj Khalifa.

This new skyscraper is part of an expanding trend across private aviation, superyachts, and luxury collectables as high-end sectors embrace digital assets as a payment option to future-proof legacy industries.

About Deus X Pay

Deus X Pay is a regulated provider of institutional stablecoin payment solutions, revolutionising the authorisation, clearing, and settlement of cryptocurrency payments. We enhance global payment options for institutions, businesses, and corporations by seamlessly merging traditional finance with advanced digital payment infrastructure, enabling faster, more cost-effective, and secure transactions.

Fully compliant and regulated as a Virtual Asset Service Provider, Deus X Pay operates under a license in Lithuania, supervised by the Financial Crime Investigation Service (FNTT), the Czech Republic, supervised by the Financial Analytical Office (FAU), and in Canada, supervised by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

As a part of the innovative crypto investment firm Deus X Capital, we equip organisations with state-of-the-art financial tools aimed at fostering growth and success in today’s dynamic market.

Threats against high-profile names in the cryptocurrency world are rising as the value of industry holdings continues to grow.

Geno Roefaro, CEO of Florida-based SaferWatch, a security platform designed to enhance emergency response across public and private institutions, has observed a growing trend: organized crime groups are increasingly targeting individuals’ cryptocurrency holdings using “sophisticated methods.”

Jethro Pijlman, managing director of Netherlands-based Infinite Risks International, a firm that provides physical security and intelligence services to cryptocurrency holders, told FOX Business that threats against crypto executives have noticeably increased globally since 2021.

Last week, a group of men tried to attack the daughter of French crypto firm Paymium CEO Pierre Noizat on the street in Paris in broad daylight. Earlier this year, the founder of French crypto company Ledger and his wife were kidnapped. In a separate incident, the father of the head of another crypto company was also kidnapped, according to Reuters. While all of them were rescued, it provoked a sense of fear and urgency among other high-net-worth individuals in the sector. 

Additionally, there has been a “particularly high concentration in Asia,” Pijlman said. 

COINBASE ESTIMATES CYBERATTACK COULD COST CRYPTO EXCHANGE UP TO $400M

Coinbase revealed in a recent regulatory filing that it spent $6.2 million last year on personal security for CEO Brian Armstrong.

“This trend aligns with the cyclical nature of the crypto markets. Each cycle typically includes a euphoric phase marked by the rapid accumulation of wealth,” Pijlman said, noting that “it is common for individuals to publicly display their newfound prosperity through luxury vehicles, high-end real estate, expensive watches, and other status symbols, often showcased on YouTube, Instagram, and other social media platforms.” 

Coinbase CEO Brian Armstrong speaks at the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. (David Swanson / Reuters Photos)

Last fall, for instance, crypto entrepreneur Justin Sun purchased Maurizio Cattelan’s famed banana duct-taped to a wall artwork for $6.2 million. Not only was the purchase itself noteworthy, but Sun, who founded the Tron blockchain in 2017, was then filmed eating the viral fruit during a news conference in Hong Kong. To commemorate the moment, he also posted a tongue-in-cheek comment on X about the taste of the viral fruit. 

“Unfortunately, this public exposure often occurs without adequate awareness of personal security risks,” Pijlman said, adding that “many individuals unintentionally share sensitive information online.” This includes travel itineraries, attendance at industry events or meetups, photos of luxury vehicles with visible license plates, identifiable backgrounds and real-time videos from upscale restaurants, clubs or private gatherings. Even posts or tags by friends can unintentionally reveal their location, according to Pijlman. 

“This kind of content provides a treasure trove of intelligence for criminal organizations. It is not uncommon for such groups to monitor a target’s digital footprint for weeks or even months before executing a robbery or abduction. The level of detail available through open-source intelligence is often staggering,” he added. 

COINBASE SUES SEC, FDIC FOR INFORMATION RELATING TO CRYPTO REGULATION

Pijlman said his firm applies the same techniques used to locate individuals in threat assessments to proactively protect its clients. This includes real-time alerts when oversharing occurs and helping clients adjust their online behavior to reduce exposure. The firm’s transportation services are delivered exclusively by security-trained drivers. In most major cities throughout Europe and the United States, the firm deploys executive protection agents, often with government or military backgrounds, who specialize in minimizing personal risk during client movements. It also offers residential security solutions, including armed protection. 

Roefaro told FOX Business that the rapid rise in cryptocurrency wealth has added a new layer of complexity to executive protection. 

In most major cities throughout Europe and the U.S., Infinite Risks International deploys executive protection agents, often with government or military backgrounds, who specialize in minimizing personal risk during client movements. (Reuters/Benoit Tessier/Illustration/File Photo / Reuters Photos)

“As digital fortunes grow, so does the risk of targeted attacks. The hiring of personal security by crypto high-rollers is not merely a trend but a strategic necessity,” Roefaro said. “It’s a clear indication that personal security must evolve in tandem with financial innovation.”

Roefaro’s company, which created a discrete device to help executives, other employees and their families get help without drawing any attention, also has a client in the cryptocurrency space.

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These are the most attractive type of high-value targets for organized crime, according to Roefaro, as the asset they are stealing is already in the form of digital currency. It is also hard for victims to recover from the losses because they transfer them internationally, Roefaro said. 

Sean Worthington, founder of CloudCoin, one of the first cloud-based digital currencies developed outside of blockchain, said that cryptocurrencies like bitcoin carry inherent risks of theft and loss due to their reliance on a single critical component known as the private key. 

“This ‘golden egg’ represents a fundamental vulnerability, as there are no built-in safeguards to mitigate the risk it poses. Insiders – such as system administrators or software developers at cryptocurrency firms – can potentially siphon funds undetected, leaving businesses exposed to significant financial losses with little recourse or accountability,” he said.