Republican Lawmaker Proposes Adding 'Permanent Ban on CBDC' Provision to '21st Century Housing Development Act'
May 19 — U.S. Republican lawmakers are pushing to add a "Permanent Ban on Central Bank Digital Currency (CBDC)" provision to the "21st Century ROAD to Housing Act." The U.S. House of Representatives is expected to vote on the measure this week.
Republicans have long opposed the Federal Reserve rolling out a retail digital dollar, contending that a CBDC would expand government surveillance of financial transactions, erode individual privacy, and jeopardize the existing banking system’s structure.
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An Indian Doctor Falls Victim to Crypto Investment Scam, Loses Approximately $1.5 Million, Police Have Registered a Case for Investigation
May 19: A prominent private doctor in Guntur, India, lost roughly 1.3 billion rupees (about $1.5 million) in a cryptocurrency investment scam, per a *Times of India* report. Local police have opened an investigation following the doctor’s complaint, tracing the flow of funds and the online criminal gang linked to the fraud.
According to the report, scammers lured victims with high cryptocurrency investment returns via an online platform, first using fake profit data to gain trust. The doctor kept adding more money into the scheme and even convinced family and friends to invest alongside him.
When he tried to withdraw his funds, the platform began delaying or outright rejecting requests for various excuses. Though his account still displayed large "profits," none of the money was accessible—and the doctor finally realized he’d been scammed.
Police suspect the case involves an organized cross-border fraud ring. They are currently probing related bank accounts, digital wallets, a
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Research: AI Data Centers and Cryptocurrency Mining Could Drive Up U.S. Electricity Prices, with Some States Seeing Increases of Over 50%
May 19 (Fortune) — Driven by surging AI data center expansion and cryptocurrency mining, U.S. electricity demand is skyrocketing, which could trigger steep jumps in residential power prices in the coming years, according to a new research report cited by the outlet.
The research projects that by 2030, the U.S. average wholesale electricity price will climb 6% to 29% — with even larger increases expected in regions where data centers cluster.
Virginia, one of the U.S.’s core data center hubs, could see its power generation costs rise the most, possibly by as much as 57%, the study notes. It adds that AI infrastructure growth and crypto mining are jointly fueling this power demand surge: data centers currently account for 4.4% of total U.S. electricity use, a figure that could jump to 17% by 2030.
To meet this extra demand, U.S. utilities may recommission some coal-fired power plants and rely more on natural gas for generation. This could lead to a maximum 28% increase in the po
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25-Year-Old Wall Street AI Stock Prodigy's Q1 New Holding Stock Continues Strong Performance in After-Hours Trading, TE Soars Over 5%
May 19 – According to Bitget market data, the Situational Awareness LP, owned by 25-year-old Wall Street AI stock guru Leopold Aschenbrenner, made its first net purchase of holdings during Q1 2026. A bullish trend continued in after-hours U.S. stock trading, with:
T1 Energy (TE) advancing 5.57% to trade at $7.39;
HIVE Digital (HIVE) climbing 3.76% to reach $3.59.
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Echo Protocol: Monad Deployment Admin Key Compromised, Around $816,000 in Assets Affected
On May 19, Echo Protocol announced unauthorized activity was detected in its eBTC deployment on Monad, leading to abnormal minting and fund losses. Initial investigations trace the issue to a compromised administrator key tied to the Monad deployment, with approximately $816,000 in assets confirmed affected.
Echo clarified the Monad network itself wasn’t hacked and remains fully operational. The team has since regained control of the admin key and burned the remaining 955 eBTC held by the attacker.
The project team further noted:
? The incident is limited exclusively to the Monad deployment
? No evidence has linked the Aptos side to impacts
? aBTC on Aptos and eBTC on Monad are separate, non-bridgable assets
? Current risk exposure on Aptos stands at roughly $71,000
As an extra security measure, Echo has temporarily paused cross-chain operations for its Monad deployment and started upgrading relevant EVM bridge contracts and permission control mechanisms. The team also warned users
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Report: One Quarter of US Employees Have Used AI at Work, Cryptocurrency Still Mainly for Investment
May 19 – The Federal Reserve on Monday published its 2025 U.S. Household Economic Well-being Report, which underscores generative AI’s rapid integration into the American workforce. The survey found roughly 25% of U.S. workers have used generative AI on the job over the past month, with far higher adoption rates among highly educated professionals. Most AI users believe the tool boosts work efficiency and supports career growth, rather than directly replacing jobs.
The report also notes cryptocurrency remains primarily used for investment purposes. Under its "Banking and Payments" section, the Federal Reserve continues to designate crypto as a key monitoring area, tracking its application across investments, everyday payments, and financial services.
Overall, U.S. residents’ financial well-being holds steady, but financial pressures have increased for younger individuals, low-income households, and Black communities. Inflation remains the top financial concern, while job anxiety has
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