May witnessed a surge in crypto markets as Bitcoin (BTC) broke its all-time high above $111,000, while Coinbase joined the S&P 500. This momentum was further fueled by President Trump’s trade deal with China which eased market fears and saw Bitcoin prices reach new highs. Five US states passed new crypto laws in May including Texas establishing a state Bitcoin reserve, New Hampshire enabling the investment of public funds in digital assets like Bitcoin, Arizona establishing a Bitcoin Reserve Fund for unclaimed assets, Nebraska granting public utilities authority over large Bitcoin miners, and Oregon incorporating crypto into its Uniform Commercial Code. 2023 is shaping up to be a pivotal year for the industry as it continues to gain mainstream recognition and attract new players. OpenAI announced plans to expand its world project to the US after facing regulatory action in 12 countries. The company aims to set up eye-scanning Orb stations across six cities in five American states. In May, Bitcoin’s market cap reached $2.2 trillion exceeding Amazon’s and hitting a new all-time high of over $111,000. While the market cooled down as demand for the asset slowed down after a 10-day inflow streak in spot Bitcoin exchange-traded funds, it still remained the top crypto asset by market cap, signifying continued interest in this space.