First Mover Americas: Bitcoin Price Edges Lower, Tron Rallies

The latest price moves in crypto markets in context for May 22, 2023.

AccessTimeIconMay 22, 2023 at 12:20 p.m. UTC
Updated May 22, 2023 at 2:25 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.

Latest Prices


Top Stories

Bitcoin and stocks started the week on a hesitant note as uncertainty in markets continued. Bitcoin dropped back below $27,000 on Saturday and is down slightly over the last 24-hours at $26,800. This comes as U.S. President Joe Biden and House Republican Speaker Kevin McCarthy will meet to discuss the debt ceiling on Monday. Some altcoins rose on Monday, among them Tron’s TRX, gaining 8% on the day as a rumor circulated on Twitter that Tron will become legal tender in Hong Kong on June 1.

Digital Currency Group (DCG) missed a $630 million payment owed to Gemini last week, according to crypto exchange Gemini. Gemini CEO Cameron Winklevoss had previously threatened to sue DCG CEO Barry Silbert and DCG over the repayment of a $900 million loan after Genesis, a DCG entity, filed for Chapter 11 bankruptcy in January. The U.S. Securities and Exchange Commission has accused both firms of selling unregistered securities through their Earn program. Both Genesis and CoinDesk are owned by DCG. Gemini and other parties are proposing an amended reorganization plan with Genesis that doesn't require DCG's approval, Gemini said in an update on its site.

The Securities Commission Malaysia ordered Huobi Global to stop operations in the country – including disabling its website and mobile applications – because it is operating a digital asset exchange without registration. The regulator told the company to cease circulating, publishing or sending advertisements to Malaysian investors, according to a Monday announcement. Operating a digital asset exchange without obtaining registration from the Securities Commission as a Recognised Market Operator is an offense under the Capital Markets and Services Act.

Chart of the Day

  • The chart shows daily changes in bitcoin supply controlled by wallets holding coins for at least a year and the cryptocurrency's price since June 2022.
  • The balance held by the so-called long-term investors is fast approaching a record high of 13.2 million BTC.
  • Per blockchain data firm IntoTheBlock, the continued accumulation reflects unwavering conviction in the cryptocurrency's prospects.

Trending Posts

Edited by Stephen Alpher.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Omkar Godbole

Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.