In May, Bitcoin (BTC) hit a new all-time high exceeding $111,000, while Coinbase's stock increased by 19.37% as it joined the S&P 500. The market reacted positively after a trade deal between the US and China was announced, and BTC reached a peak of $105,000 before a minor pullback. Amidst these developments, five US states enacted significant crypto legislation: Texas established a state Bitcoin reserve, Nebraska granted local utilities authority over Bitcoin miners, and Arizona created a Digital Assets Reserve Fund. OpenAI announced its move to the US for its digital identity project, World, after facing legal challenges in 12 countries. Additionally, Bitcoin's market cap surpassed Amazon's on Pizza Day, although by the month's end, the rally slowed and the crypto market experienced notable outflows.

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