Moonwell's cross-chain governance on Ethereum enhances DeFi protocol efficiency but may centralize power due to high gas costs, impacting decentralization.

The post Moonwell enables governance for WELL holders across multiple networks appeared first on Crypto Briefing.

The decline in reverse repo usage suggests reduced excess liquidity, increasing the risk of interest rate volatility and potential market instability.

The post Federal Reserve accepts $1.8B in reverse repurchase operation, a fraction of its former peak appeared first on Crypto Briefing.

The deal's impact on global trade highlights Bitcoin's emerging role in international transactions, challenging traditional financial systems.

The post Trump says Strait of Hormuz will open immediately under Iran deal, with Bitcoin playing an unexpected role appeared first on Crypto Briefing.

The White House's review of CFTC's proposal could reshape prediction markets, impacting federal-state regulatory dynamics and DeFi precedents.

The post White House reviews CFTC proposal to regulate prediction markets appeared first on Crypto Briefing.

The draft deal could stabilize global oil markets and ease geopolitical tensions, but its success hinges on resolving nuclear negotiations.

The post Iran claims draft deal with US to reopen Hormuz shipping and end naval blockade appeared first on Crypto Briefing.

Bitcoin Magazine

Casa Launches Four Security Features to Combat Rising Social Engineering Attacks on Bitcoin Holders

Bitcoin security firm Casa has released a suite of four features targeting social engineering, the attack vector responsible for the bulk of crypto theft in 2025. The features are live now for Casa customers, arriving as the FBI reports crypto fraud losses climbed 22% year over year to more than $11 billion last year.

Social engineering — where scammers manipulate victims into sending funds or handing over wallet access — now dwarfs other forms of crypto theft. For every physical attack on a crypto holder reported in 2025, there were more than 2,000 phishing attacks filed with the FBI. 

Casa CEO Nick Neuman said the firm treats attacks on its clients as a direct challenge. “Social engineering is the lowest of the low,” Neuman wrote. “People are trying to trick others into losing their life savings. We will not stand for it.”

Guardian Mode

The first feature, Guardian Mode, adds a human checkpoint to every transaction. When enabled, the Casa Recovery Key will not sign a transaction until two Casa Advisors complete a live video verification call with the account holder. 

After that call, a 48-hour hold activates before the signature is applied. The window gives users the ability to reverse course if they acted under pressure. Disabling Guardian Mode follows the same process — a verification call plus a 48-hour delay — so an attacker cannot strip the protection and strike in the same session. 

Guardian Mode is opt-in and available to Premium and Private Client members.

Whitelisting Addresses

Whitelisting restricts vault withdrawals to a list of pre-approved addresses. Any new address added to the list enters a 48-hour waiting period before it becomes active. During that window, Casa sends an email alert to the account holder. 

The delay is designed to interrupt a core element of social engineering: the manufactured urgency that pushes victims to send funds before they reconsider. Turning off Whitelisting carries its own 48-hour hold, preventing an attacker from disabling the feature and draining funds in a single move.

Suspicious Account Activity

The third feature monitors login locations and flags sessions that are physically impossible given the timing of prior logins. Casa records city-level location data at sign-in but does not store IP addresses; location data is deleted after 48 hours. If a login from Tokyo follows a login from Montreal by 20 minutes, the system sends an email alert. 

The feature is built to catch unauthorized account access without building a surveillance profile on the user.

Phone Call Detection

The fourth feature addresses the role phone calls play in social engineering. Casa found that 20% of such attacks begin with an unexpected call, where the attacker uses real-time conversation to manufacture urgency and override the victim’s judgment. 

The Casa app now detects an active phone call on the device and, when a user attempts to send funds mid-call, requires them to enter a Casa Advisor Verification Code before the transaction proceeds. 

A legitimate Casa advisor will have the code. The app checks call state only and does not access audio, caller ID, or call content.

Casa said the features are part of a broader five-week campaign with industry experts to raise awareness about social engineering. AI tools and data breaches, the company noted, have made these attacks more targeted and convincing than before.

This post Casa Launches Four Security Features to Combat Rising Social Engineering Attacks on Bitcoin Holders first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Mastercard Secures New York BitLicense to Advance Digital Asset Strategy

Mastercard has received a BitLicense from the New York State Department of Financial Services (NYDFS), clearing the way for the payments giant to conduct digital asset activities under one of the strictest crypto regulatory frameworks in the United States.

The license was granted to Mastercard Transaction Services (U.S.) LLC, a subsidiary of the global payments company, which operates in more than 200 countries and territories. The announcement came on May 27, 2026, and positions Mastercard to deepen its involvement in stablecoin infrastructure and blockchain-based payment systems.

New York’s BitLicense framework, first introduced in 2015, sets out rigorous requirements for companies seeking to operate digital asset businesses in the state. 

Those requirements cover capital reserves, cybersecurity protocols, consumer protection standards, and ongoing compliance oversight by NYDFS. Firms that hold the license are subject to continuous regulatory scrutiny — a condition that has made the approval process both lengthy and resource-intensive.

For Mastercard, the license opens a formal regulatory channel to engage with stablecoins and tokenized deposits, two fast-growing areas within digital finance. 

Stablecoins — digital tokens whose value is pegged to fiat currencies such as the U.S. dollar — have gained traction for cross-border payments, treasury management, and business-to-business settlements due to their ability to settle around the clock and at greater speed than traditional banking rails.

Mastercard’s push into crypto

The BitLicense approval is one piece of a broader push by Mastercard into digital asset infrastructure.

In March 2026, the company agreed to acquire BVNK, a stablecoin payments firm, for $1.8 billion — a deal that analysts viewed as a signal that stablecoins are becoming part of mainstream financial infrastructure rather than remaining a niche crypto product.

Jorn Lambert, Chief Product Officer at Mastercard, said in a statement: “Clear regulatory frameworks play an important role in building trust and confidence as new forms of digital value move from experimentation toward practical application. This approval underscores our focus on aligning innovation with regulatory expectations of high levels of security, compliance and risk management.”

Mastercard joins a small but expanding group of firms to hold a BitLicense. Galaxy Digital received its license earlier in May 2026, and Strike received its approval in March. 

Since the regime’s launch a decade ago, only a few dozen firms have received the license, reflecting the demands of the application process. The NYDFS has positioned itself as one of the most active state regulators in the digital asset space, and its BitLicense has become a benchmark for state-level crypto oversight across the U.S.

This post Mastercard Secures New York BitLicense to Advance Digital Asset Strategy first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Kraken Launches Bitcoin Vault, Offering Yield on BTC Holdings

Kraken has introduced Bitcoin Vault, a new product within its Kraken Earn suite that allows customers to earn BTC-denominated rewards on their Bitcoin holdings without selling the asset. The offering targets long-term holders who want passive yield tied to Bitcoin’s price exposure rather than a fiat-denominated return.

The product carries a variable rate of up to 2.5% APY, paid in Bitcoin. Under the hood, customer assets are routed through DeFi infrastructure built by Veda, with strategy design and risk curation handled by Sentora. 

Those firms allocate capital across established onchain lending protocols including Aave, Morpho, and Tydro — platforms that have processed billions in DeFi volume. The exchange does not control these third-party protocols, and the company disclosed that users face technological, market, and operational risks, including the possibility of losing some or all assets.

The launch reflects a broader shift in how crypto exchanges compete for customers. Bitcoin ownership has long been characterized by a buy-and-hold mentality, but exchanges are now racing to offer yield products that give holders a reason to keep assets on-platform rather than in cold storage. 

Kraken’s foray into onchain products follows a period of product expansion ahead of an initial public offering the company is targeting for later in 2026.

Kraken’s Bitcoin Vault details

Kraken drew on its own data to justify the product. Its USDC Vaults offering, launched in January 2026, crossed $240 million in assets without the use of incentive programs — a benchmark the company cited as evidence of organic demand for structured yield products. Bitcoin Vault is designed to replicate that model for BTC holders, a segment that represents the largest share of the customer base.

“Many Bitcoin holders on Kraken have made it clear they want simple ways to earn on the Bitcoin they already plan to hold,” said John Zettler, Director of Product, Kraken Earn & Trade. “Bitcoin Vault is built for that mindset.”

The product is accessible through Kraken’s web interface, its Pro platform, the mobile app, and the Krak app. It is available in all Kraken operating jurisdictions except the United Kingdom, the United Arab Emirates, and Australia. 

Setup requires seconds from within an existing account, a design choice aimed at removing friction for users without DeFi experience.

Bitcoin Vault is classified as an unregulated product provided by Payward Wallet, LLC, a subsidiary of Kraken. 

The product puts the exchange at the intersection of centralized exchange convenience and decentralized finance yield — a space where competitors including Coinbase and Binance have also been building, as crypto platforms work to broaden revenue streams beyond trading fees.

This post Kraken Launches Bitcoin Vault, Offering Yield on BTC Holdings first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Fold Launches New Bitcoin Credit Card Rollout

Fold Holdings, Inc. (NASDAQ: FLD) has begun issuing its Fold Bitcoin Credit Card to select members of its waitlist, with plans to expand access in batches over the coming weeks and months, according to a modified company release.

The card, issued on the Visa network and powered by Stripe Issuing, offers up to 4% back in bitcoin rewards on purchases. It carries a base rate of 1.5% bitcoin back, with behavior-based boosts and targeted offers available through Fold’s partner network.

Cardholders who pay their bill in bitcoin receive an extra 0.5% back on that payment. The card is accepted at 175 million Visa merchants.

Fold has begun shipping physical cards to active holders. New applicants will receive a physical card upon approval. Users can also access a virtual card through the Fold App for use with Apple Pay and Google Pay.

“Launching the Fold Bitcoin Credit Card marks a pivotal milestone for Fold,” said CEO Will Reeves. “No gimmicks, complicated points systems or token rewards. Just a simple and transparent way to earn bitcoin on everyday spending.”

Card features include real-time reward tracking in the Fold App, lock and unlock controls, fraud alerts, and the option to link a Fold Checking account or external bank for payments.

This post Fold Launches New Bitcoin Credit Card Rollout first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

DDC Buys Bitcoin Twice in One Week, Grows Treasury 14% Without Dilution

DDC Enterprise Limited (NYSE American: DDC) expanded its corporate Bitcoin treasury to 2,714 BTC on Wednesday with the purchase of 131 Bitcoin, the company announced.

The New York-based company said the acquisition marks its second Bitcoin purchase in seven days, following a 200 BTC transaction on May 21. Together, the two deals added 331 BTC and lifted the company’s total Bitcoin holdings by approximately 13.9%, with no new common shares issued.

DDC, which describes itself as a global Asian food platform and digital asset treasury company, said its average cost per Bitcoin now stands at $79,135. The company’s Bitcoin yield for the year to date reached 43.5%, and its BTC per 1,000 shares rose 5.1% to 0.057053.

“Discipline in a Bitcoin treasury is proven through repetition,” said Norma Chu, Founder, Chairwoman, and Chief Executive Officer. “Today’s purchase puts capital we previously raised to work, without printing a single new share to do it.”

The 131 BTC transaction size was determined by available liquidity and balance sheet capacity. DDC said it plans to continue deploying capital in measured, incremental purchases rather than at any single price point — a strategy it says protects per-share Bitcoin value while avoiding dilution.

The company said it ranks among the top 30 publicly traded corporate Bitcoin holders worldwide, a cohort that includes major treasury operators such as Strategy (formerly MicroStrategy), which holds more than 580,000 BTC.

DDC operates a portfolio of Asian food brands that generated $39.2 million in fiscal year 2025 revenue, reporting positive Adjusted EBITDA for the first time. The dual mandate — operating business growth alongside Bitcoin accumulation — reflects a model pioneered by Strategy and since adopted by a growing number of smaller public companies seeking to pair core operations with digital asset exposure on the balance sheet.

Bitcoin as a reserve asset 

Yesterday, Strategy said they paused its weekly bitcoin purchases to focus on strengthening its balance sheet, completing a $1.5 billion convertible debt buyback at an 8% discount while maintaining holdings of roughly 843,738 BTC. The move lifted MSTR shares as investors viewed the debt reduction as a step toward lowering near-term financial risk amid weaker bitcoin prices.

Strive disclosed yesterday that it added 1,109 bitcoin, increasing total holdings to about 16,500 BTC as the company continues expanding its bitcoin treasury strategy through SATA and other capital market initiatives. Shares of ASST have surged in recent months alongside the firm’s aggressive accumulation strategy and exploration of additional fundraising options.

DDC has stated its objective is to compound value across both its food business and its balance sheet, with each DDC share representing more Bitcoin and a stronger underlying enterprise over time. 

No new equity was issued to fund either of the two most recent Bitcoin purchases, the company said, underscoring its stated commitment to per-share Bitcoin growth without shareholder dilution.

This post DDC Buys Bitcoin Twice in One Week, Grows Treasury 14% Without Dilution first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

CME gaps are supposed to die Friday.

CME Group says its regulated crypto futures and options will move to 24-hour, seven-day trading on May 29, pending regulatory review, cutting into one of Bitcoin‘s familiar institutional market tells.

The weekday venue that helped create weekend CME-gap talk is preparing to keep matching trades while crypto prices keep moving.

CME is extending the moment traders can execute, while other parts of the regulated futures stack still keep a business-day clock.

Weekend and holiday trades from Friday evening through Sunday evening will still carry the following business day's trade date, and CME says clearing, settlement and regulatory reporting tied to that activity will be processed on that following business day.

For participating institutional users, the execution gap gets smaller. The harder question shifts to liquidity quality, clearing behavior and Monday post-trade processing.

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CME to start trading crypto futures 24/7: What changes for Bitcoin?

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Oct 3, 2025 · Andjela Radmilac

What CME Is Changing

CME announced that its regulated cryptocurrency futures and options will become available for trading 24 hours a day, seven days a week beginning May 29, pending regulatory review.

The move applies to the exchange's crypto futures and options complex and is being implemented through CME Globex and ClearPort, subject to maintenance windows.

The commercial case is clear. CME said client demand for digital-asset risk management reached a record level, with $3 trillion in notional volume across its crypto futures and options in 2025.

It also reported 407,200 year-to-date average daily contracts in 2026, up 46% from the prior year.

Those figures show why the weekend access problem has moved beyond a meme. Bitcoin traded around $75,782 in CryptoSlate's May 27 snapshot, with a market capitalization near $1.52 trillion and 24-hour volume near $35.17 billion.

In a market of that size, a regulated derivatives venue that closes through the weekend can leave institutional desks managing price risk with a time-zone mismatch.

For traders using futures to hedge spot exposure, manage basis, or offset ETF-linked flows, the practical question is whether the regulated instruments they are allowed or required to use can respond when prices move outside the old CME week.

CME's move gives qualified participants a regulated execution channel during periods that previously sat outside that trading window.

That access can change how a weekend shock is absorbed. Instead of compressing every move into a Sunday evening or Monday reopening, participating desks can hedge, roll, quote or adjust exposure while the broader crypto market is already trading.

The improvement is meaningful for basis trades, ETF-linked exposure, liquidation risk and headline-driven volatility, even as the rest of the regulated workflow remains more constrained.

For CME, the scale also shifts the launch from product housekeeping into market-structure work: a large derivatives franchise is adapting its access model to an asset class that keeps pricing risk through weekends.

The Post-Trade Clock Still Runs On Business Days

CME's clearing and global operations guidelines spell out the limit of the change. The document says there will still be five business days, Monday through Friday, and that Saturday and Sunday clearing settlement cycles are outside the new setup.

The distinction is operationally important: execution becomes continuous, while the official machinery that turns trades into cleared obligations still leans on the next business day.

That design reflects the unresolved operating problem for regulated crypto markets. Crypto prices can move continuously, while futures markets depend on clearing members, collateral, risk controls, settlement cycles, reporting records and operational staffing built around business-day discipline.

CME's guidelines show how the exchange is trying to bridge the mismatch. Clearing members that participate in supplemental trading hours must be approved by CME Clearing.

They must have risk policies and procedures that cover the extra hours, including account monitoring, credit controls, position limits, intraday and overnight monitoring, and defined liquidity sources.

During certain weekend hours, CME Clearing will monitor exposure against posted performance bond and available liquidity. Clearing members are required to submit weekly liquidity templates and deposit collateral for anticipated weekend clearing activity by Friday afternoon into separate weekend settlement accounts.

Those mechanics are the back-office version of 24/7 trading: prefunded risk capacity and monitoring until the business-day cycle catches up.

Weekend Liquidity Has To Prove Itself

The old CME gap became shorthand because Bitcoin and other crypto assets kept trading while CME's institutional venue was closed. If spot prices moved sharply on Saturday, CME futures reopened later at a different level, creating a visible gap on the chart.

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That chart pattern was only one part of the issue. The deeper problem was that regulated access stopped during precisely the period when crypto-native venues, offshore platforms, ETFs, market makers and leveraged traders could still be forced to react.

CME's BTIC materials show how weekend access reaches the basis-trading and ETF workflows around crypto futures, not just directional bets.

In plain terms, a basis trade at index close lets participants trade crypto futures basis against CME CF reference rates, including reference-rate closes in London, New York and APAC. CME also cites ETF creation and redemption NAV risk as a use case.

That places CME's derivatives complex close to the plumbing of institutional exposure. A desk managing basis against a reference rate, hedging ETF-linked exposure, or carrying futures against spot needs instruments, margin processes and liquidity when prices move.

Access alone still leaves market quality to prove itself. If weekend books are thin, spreads widen, or clearing constraints bite during stress, the market may feel more available without feeling fully continuous.

Related Reading

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Apr 11, 2026 · Andjela Radmilac

CME appears aware of that risk. Separate CFTC filings show weekend market-maker programs for cryptocurrency futures and options.

The options program says participants must quote continuous two-sided markets in covered products at maximum bid-ask spreads and minimum quote sizes during a required share of time in market.

Those filings support a launch-liquidity program rather than evidence of deep weekend markets. The first live measure will be practical: which clearing members enable seven-day access, how much volume trades outside old hours, how weekend bid-ask spreads compare with weekdays, whether options quotes remain reliable, and whether exposure alerts or prefunding requirements shape behavior during volatile periods.

There are two plausible paths. In the stronger version, CME's weekend access becomes a genuine pressure valve.

Institutional traders can hedge, roll, quote and adjust exposure while crypto-native markets are already moving, and Monday becomes more of an administrative processing point than a delayed risk event.

In the weaker version, the venue is technically open while liquidity remains uneven, with many users still treating Monday as the real moment when weekend activity becomes visible in clearing, settlement and reporting.

The launch would still be important; it would show that the weekend gap has migrated from price charts into market depth and operations.

CME's 24/7 launch gives institutional traders a way to use familiar futures and options products while Bitcoin and the broader crypto market move through weekends and holidays.

It also exposes the limits of the shift. Regulated crypto can trade more like crypto, while it still clears and reports through machinery built for business days.

For the weekend gap, the split is now clearer. CME is likely to kill the most visible version for traders who can access the venue through the weekend.

The tougher part moves into a less visible place: whether liquidity, risk controls and clearing behavior can make regulated crypto feel continuous when the back office still keeps a business-day clock.

The post CME’s 24/7 crypto launch will kill Bitcoin’s weekend gap, but Monday now matters more appeared first on CryptoSlate.

Ethereum developers are racing to bring native privacy to the world’s largest smart contract blockchain as investors warn that delays could weaken ETH’s claim as crypto’s default settlement layer.

The pressure has intensified as the market rotates toward privacy-focused assets while Ethereum struggles to hold investor attention amid its current wave of FUD and questions over its identity.

ETH has fallen roughly 30% this year and recently traded near $2,000, even as Zcash has registered double-digit gains during the same period.

That divergence has turned privacy from a long-running cypherpunk goal into a product deadline for Ethereum.

The network still dominates stablecoin settlement, tokenization, decentralized finance, and Layer 2 activity, but its default transparency remains a problem for users and institutions that do not want balances, counterparties, or transaction histories visible in real time.

Tom Dunleavy, head of venture at Varys Capital, said Ethereum’s privacy push is bullish, but only if developers move quickly.

According to him:

“Super bullish on the privacy push for Ethereum, but it needs to happen in a reasonable, under-12-month timeframe, or it effectively doesn’t matter. Ethereum now more than ever is in a race on the product side, and its competition is extremely well-funded, motivated, and has all of the connections Ethereum lacks. Ship or die.”

The warning comes as Ethereum’s market position is already under pressure. GSR Research said blockchain revenue is shifting toward rival networks such as Solana, Tron, and Hyperliquid, while the ETH-to-Bitcoin ratio recently hit its lowest level since mid-2025.

This trend is also reflected in CryptoQuant data, which points to a sharp retreat among retail and mid-tier Ethereum holders.

According to the firm, wallets holding between 100 and 1,000 ETH have nearly halved their balances over the past three years, falling from a 2023 peak of 16.2 million ETH to roughly 8.75 million ETH today.

Larger holders have also begun reducing exposure. Wallets holding between 1,000 and 10,000 ETH, which helped drive Ethereum’s 2024 rally, reportedly started trimming their positions late last year.

Those outflows cannot be directly attributed to demand for privacy. However, they add pressure to Ethereum’s broader narrative at a time when privacy-focused assets are gaining market attention, and investors are questioning what could restore ETH’s momentum.

How privacy became a crypto market trade

The push for Ethereum privacy coincides with a broader market thesis that financial confidentiality will dictate the next major cryptocurrency cycle.

Grayscale Research recently published an analysis arguing that the digital asset sector is on the cusp of a “third wave” of widespread public attention regarding financial privacy.

According to the firm, this shift is driven by the proliferation of stablecoins and blockchain-based applications, as well as the rapid advancement of artificial intelligence. These AI tools, Grayscale warned, introduce new and highly sophisticated methods of financial surveillance.

On public blockchains, balances, counterparties, and transaction histories can remain visible indefinitely.

Grayscale researchers emphasized that the demand for privacy is not solely limited to users seeking full anonymity. Instead, it reflects ordinary preferences for confidentiality in economic life.

Individuals generally do not want their spending history exposed by default, while businesses require confidentiality for supplier payments, payroll, and treasury flows. Institutions similarly view the real-time mapping of their wallet structures as a non-starter.

However, implementing these features involves significant commercial tradeoffs.

Grayscale noted that stronger privacy protections have historically led to weaker market distribution, creating friction with centralized exchange support, regulatory compliance, and wallet integration.

Despite these hurdles, Grayscale Investments Chairman Barry Silbert echoed the report’s sentiment, declaring that the “privacy era” in digital assets has officially commenced.

This narrative shift is already evident in the crypto market, where Zcash's market capitalization has surged by over 900% in the past year, approaching nearly $10 billion. Even Monero, which frequently faces regulatory scrutiny over its use in illicit markets, has doubled in value.

Ethereum co-founder makes play for privacy

Over the past weeks, Ethereum co-founder Vitalik Buterin has pushed the issue back to the front of the network’s technical agenda, calling for developers to “accelerate the cypherpunk privacy reality” after years of privacy research and debate.

His near-term roadmap focuses on three areas, including account abstraction and FOCIL, keyed nonces, and access-layer privacy work.

Together, they are designed to make private Ethereum activity harder to censor, harder to link, and less dependent on trusted infrastructure.

FOCIL, short for fork-choice-enforced inclusion lists, is designed to address transaction censorship.

Today, transactions can sit in a public mempool before they are finalized, giving block builders and other intermediaries visibility into pending activity. That creates openings for exclusion, front-running, and surveillance.

FOCIL would allow a committee of validators to propose lists of transactions that block builders are expected to include.

If builders ignore those transactions, their blocks may be rejected by the network. The mechanism is designed to make it harder to censor transactions, including private transfers, before they reach the chain.

Account abstraction addresses another weakness in Ethereum’s current design. Most users still rely on externally owned accounts controlled by a single private key.

Account abstraction allows accounts to behave more like programmable smart contracts, supporting features such as social recovery, multisignature approval, and fee sponsorship.

For privacy, that flexibility matters because wallet activity can be structured to reduce obvious behavioral patterns. It also makes it easier for applications or relayers to pay fees on behalf of users without forcing every action through the same exposed account model.

Keyed nonces target a narrower but important metadata leak. Ethereum accounts currently use a single counter, known as a nonce, to prevent the same transaction from being replayed. Because that counter increases in sequence, observers can use it to link transactions that might otherwise appear separate.

The proposed fix splits the account counter into different replay domains. That would allow separate types of activity to use different nonce keys, making it harder to link private actions back to the same account through simple sequencing.

Lastly, the most ambitious part of that wider push may be Kohaku, an Ethereum Foundation-backed open-source toolkit designed to bring privacy features into the wallets people already use. The project goes beyond private transfers by targeting the access-layer leaks that expose users before a transaction even settles.

Even if transactions become private, wallets can still leak information when they query the blockchain. Most wallets rely on remote procedure call providers to check balances, read smart contracts, and submit transactions, giving those providers visibility into a user’s IP address, wallet identity, and requested data.

Kohaku is designed to reduce that exposure by giving wallet developers privacy and security components that can be integrated into existing products. Its roadmap includes private sending, safer key management, private reads, and a reference wallet for developers and power users.

The toolkit can also connect wallets to shielded protocols such as Railgun, which is already live on Ethereum, and Privacy Pools, which remains in development.

Ultimately, its goal is to give users private transfers and DeFi access without forcing them to adopt niche tools or move away from wallets they already use.

Ethereum researcher soispoke.eth said the combined package could enable the blockchain network to offer native, trustless, and censorship-resistant private transactions as soon as next year if the proposals ship together.

Why ETH needs to ship privacy features

Crypto lawyer Gabriel Shapiro said these privacy works could help Ethereum compete for institutional tokenization because enterprises need confidentiality for tokenized securities, treasury flows, and DeFi interactions.

That argument goes to the center of Ethereum’s investment case. The network’s advantage has long been its breadth: stablecoins, lending markets, decentralized exchanges, tokenized assets, Layer 2 networks, and developer infrastructure.

However, this breadth alone may not be enough if every financial interaction remains visible by default.

For institutions, public settlement without privacy can be a liability. A company does not want competitors mapping its suppliers. A fund does not want trading routes exposed. A bank does not want clients’ tokenized securities activity to be visible on a public ledger.

Ethereum has the infrastructure to serve those users, but the market is pressing for proof that privacy can reach wallet-level products rather than remain a research agenda.

That is why Dunleavy’s 12-month warning lands with force: Zcash already has the clearest privacy narrative, and Monero remains a major privacy asset despite exchange and regulatory pressure.

At the same time, rival blockchain networks, including Solana, Tron, and Hyperliquid, are capturing market attention while Bitcoin still commands the strongest institutional demand.

Still, Ethereum has the deepest application base in crypto with over $350 billion in assets tokenized on the blockchain, but the market is no longer treating that lead as permanent.

If Hegota introduces usable privacy products within the next year, the feature could strengthen ETH’s role as a settlement infrastructure for both individuals and institutions.

However, if those upgrades remain technical promises, the current privacy trade may continue rewarding assets that made confidentiality their core feature from the start.

The post Ethereum’s privacy push faces a 12-month deadline as markets reward privacy-first assets appeared first on CryptoSlate.

Agentic payment protocol x402 volume collapsed roughly 77% from its November 2025 peak of $5.15 million to $1.19 million by May 2026.

Meanwhile, transaction count fell only 41% from its December 2025 peak of 4.85 million, then rebounded to 2.89 million in May, up 12.5x from a February trough, with an average transaction size of $0.52.

The market's recovery took the form of high-frequency, low-value usage, revealing that agents are paying for APIs, data, and compute over HTTP at sub-dollar amounts, relying on automation to function.

A conservative 5-to-15-second wallet confirmation to each of those 2.89 million monthly x402 transactions can generate between 4,000 and 12,000 user-hours of approval friction in a single month.

At a $25/hour time value, each manual confirmation costs $0.03 to $0.10, which is material for a $0.52 transaction, and economically absurd for a $0.01 API call.

At sub-cent payment sizes, the friction cost exceeds the transaction value itself, and the smaller the payment, the wider that distance.

That logic explains why every major actor building agentic payment infrastructure now concentrates on authorization frameworks.

Industry actors building the delegation layer

Google donated AP2 to the FIDO Alliance in April 2026 after developing it as an authorization framework for delegated AI tasks.

AP2 uses cryptographically signed “mandates,” instructions that define what an agent can do, under what conditions, and within what limits.

For tasks where the user is absent, AP2 supports pre-authorized rules that cover price ceilings, time windows, and action scope. Donating it to FIDO pushes it toward a cross-platform standard, and FIDO frames AP2 as enabling secure delegation, verifiable authorization, and trusted transaction execution.

Mastercard's Verifiable Intent creates a tamper-resistant record linking what the user authorized to what the agent executed, an audit trail that travels with the transaction and answers whether an agent did exactly what the user asked and nothing more.

Stripe and Tempo's implementation of the Model Context Protocol for payments addresses the on-chain friction version of the same challenge.

A Tempo Machine Payments Protocol (MPP) session requires only two on-chain transactions, one to open, one to settle, regardless of how many payments occur in between, letting agents execute high-frequency, low-value payments without paying on-chain costs per request.

Stripe's machine payments documentation describes pay-per-use models starting at 0.01 USDC per agent invocation, recurring payments, and programmatic API calls, all designed for agents acting without a human in the loop.

Cloudflare treats x402 and MPP as HTTP infrastructure, with agents discovering services, receiving 402 Payment Required challenges, and retrying with payment credentials programmatically.

Visa's Intelligent Commerce Connect, already in pilot with AWS, Diddo, Highnote, Mesh, Payabli, and Sumvin, adds tokenization, spend controls, and authentication to the same stack.

Across all of these, the common architecture positions authorization at the policy level, where a single user decision governs many agent actions.

Both sides of the contradiction

Base expands what agents can do by enabling check balances, sending funds, swapping tokens, signing messages, executing contract calls, and paying via x402-enabled APIs, but every write action still requires user approval through Base Account.

For swaps, lending positions, and larger wallet actions, that gate is a safety feature. For recurring micropayments of $0.52 or less, it is the same approval wall as at the wallet layer.

Launched on May 26, Base MCP exposes the delegation disconnect: an agent that can propose an x402 payment but cannot execute it without a wallet pop-up cannot function autonomously in a micropayment economy.

The distance between “agents can propose” and “agents can spend” is what AP2 mandates, MPP sessions, and Verifiable Intent are trying to close.

Infrastructure ahead of trust

If the delegation frameworks mature and achieve broad adoption, x402 adjusted transactions could climb from 2.89 million monthly to 10 to 30 million, with average transaction size remaining mostly sub-dollar.

The growth driver would be a higher ratio of payments per user authorization, in which a user sets a budget and defines an allowlist, and an agent executes thousands of microtransactions within those parameters.

McKinsey estimates that by 2030, agentic commerce could orchestrate up to $1 trillion in US B2C retail revenue and $3 to $5 trillion globally.

That figure depends on agents operating reliably within delegated authority, across machine-readable transaction objects, at frequencies no human approval loop can support.

The bear case turns on institutional coordination, and trust-building moves more slowly than infrastructure does. Gartner predicts that over 40% of agentic AI projects will be canceled by the end of 2027, citing costs, unclear value, and weak risk controls.

If wallets default to human-in-the-loop for liability reasons, if merchants add friction to agent-initiated payments because they cannot verify intent, or if a single high-profile exploit forces regulators into the conversation before standards harden, x402 adjusted transactions could stay in the 1-to-3 million monthly range.

Standards like AP2 and Verifiable Intent require broad adoption to serve as trust signals, and that adoption depends on wallets, merchants, and platforms converging on a common authorization model.

MPP routes through Tempo stablecoins, Stripe-supported cards, Lightning, and custom payment methods, so on-chain Artemis data covers only a portion of its activity.

When judged by agent invocations per authorized session, MPP's footprint expands into the foundational plumbing layer of machine payments.

That measurement difference shapes how the category gets evaluated, and miscalibrated evaluation affects where capital goes and which standards win the adoption race.

The next phase of agentic payments is proving they deserve the authority to spend, and that the humans, wallets, and merchants on the other side of those transactions are willing to grant it in advance.

The post Tiny x402 payments expose the approval gap holding AI agents back appeared first on CryptoSlate.

At 10:30:34 a.m. ET, a single IBIT print of 29,212,864 shares, crossed at $43.16, for a notional of roughly $1.26 billion.

The next-largest visible movement was 1.3 million shares, making one trade dwarf everything else in IBIT's session, accounting for about 34.8% of the ETF's reported intraday volume of 83.86 million shares.

IBIT ended the sequence at $42.99, up about 0.09%, while Bitcoin traded around $75,911, down roughly 1.73%. A dark pool executed the trade with a momentary 1% dip in Bitcoin, which recovered immediately, confirming the block absorbed through organized liquidity and settled cleanly.

IBIT's intraday volume of 83.86 million shares gave the market enough daily turnover to absorb even a 29.2 million-share print, and a buyer or a network of buyers matched the seller at $43.16 without triggering a disorderly repricing of the ETF.

Before spot Bitcoin ETFs launched, moving a billion dollars of Bitcoin exposure required either a large OTC desk arrangement or a sequence of exchange orders that would leave visible price impact across crypto markets.

Today's block routed through block desks, market makers, arbitrage desks, authorized participants standing ready, and IBIT closed near where it started.

The secondary market distinction

IBIT shares trade continuously on the secondary market among investors, and a block trade between those investors changes ownership of the shares, leaving the trust's underlying Bitcoin holdings intact unless something else happens.

BlackRock's fund documentation states that IBIT shares are bought and sold on the secondary market and are not individually redeemable from the trust.

Only authorized participants, which are large financial institutions that interact directly with the fund, can create or redeem shares in large baskets. This happens through a separate process, and that process determines whether the trust actually sells Bitcoin.

Farside Investors May 26 IBIT flow row was not yet populated, leaving confirmation of whether today's block translated into fund-level Bitcoin selling still pending.

IBIT's previous single-day withdrawal record was approximately $523 million, set in November 2025. A confirmed outflow matching today's full notional size would more than double that record.

If IBIT reports no major outflow, the block transfer of exposure from one institutional holder to another is a liquidity event confined to the secondary market.

If IBIT posts a large outflow, particularly one approaching or exceeding its prior record of $523 million, the block translates into basket-redemption pressure.

A large holder may have wanted to cut Bitcoin exposure and used IBIT because it offered enough liquidity to move size discreetly. The buyer may have been a different institution rotating into Bitcoin exposure via the ETF wrapper.

The trade could also reflect a portfolio rebalancing, a basis-trade unwind, a hedge adjustment, or a mandate-driven allocation change, none of which requires a directional view on Bitcoin's price.

Plumbing under pressure

In the bull case, ETF flow data shows no major IBIT outflow, and today's block confirms the depth of Bitcoin's institutional market.

One institution reduced exposure, and another absorbed it through the ETF structure, keeping spot Bitcoin off the exchange order books and the ETF price intact.

That outcome supports the argument that Bitcoin's market structure has matured, as billion-dollar exposure transfers can now occur within ETF plumbing.

Institutions looking to size into or out of Bitcoin have a liquid, organized venue capable of handling the volume, and May 26 movement is the evidence.

In the bear case, IBIT reports a large outflow in the next flow print, one that approaches or exceeds its prior record of $523 million.

That would mean the block translated into basket redemption pressure, as authorized participants returned shares to BlackRock, the fund sold Bitcoin to meet redemptions, and the ETF structure amplified the concentrated selling, transmitting it into spot price pressure.

The broader implication is that institutional de-risking at scale can activate the redemption cycle, converting a secondary-market block trade into primary-market Bitcoin sales in a sequence the tape alone cannot show.

Whatever the flow data confirms, today's block already demonstrated the depth of Bitcoin's institutional infrastructure.

A trade worth roughly $1.26 billion crossed at a single venue, and the ETF held its price, sustained by IBIT's order book depth, block-desk liquidity, and the arbitrage apparatus that keeps the ETF's price tethered to its net asset value under stress.

The block trade only converts into deeper Bitcoin sell pressure if it shows up in the next ETF flow print. Until then, the cleaner interpretation is that a billion-dollar transfer of Bitcoin exposure happened, and the market absorbed it.

The post Bitcoin just absorbed a single $1.3B IBIT block trade with barely any price movement appeared first on CryptoSlate.

US commercial and industrial lending reached $2.89 trillion at commercial banks for the week ending May 13, up roughly $183 billion year-to-date and 8.19% above year-ago levels.

Corporate America has borrowed heavily through rising rates and continues borrowing into tightening bank credit conditions, adding more to bank balance sheets in the first five months of 2026 than most DeFi protocols have ever intermediated in total.

Aave ended 2025 with $55 billion in deposits after peaking at $75 billion, placing it alongside mid-sized US banks in terms of asset scale. DefiLlama data show its current active loan book is $10.9 billion, roughly 0.38% of the US C&I loan market.

Tokenized credit across all on-chain platforms, including Maple, Centrifuge, and STOKR, reaches $5.3 billion in distributed value and $22.7 billion in represented value, according to RWA.xyz.

Together, those figures represent less than 1% of what US banks extend to businesses alone.

The rate paradox

Aave V3 on Base shows a 30-day average USDC borrow APR of 4.24%, against the Federal Reserve's published US bank prime loan rate of 6.75%.

The Fed's April Senior Loan Officer Opinion Survey noted that banks tightened C&I credit standards across firm sizes, raised premiums on riskier loans, and imposed stricter covenants and collateral requirements, even as C&I balances continued to climb.

Aave's borrow rate prices collateral risk, which is the cost of accessing liquidity against assets that the protocol can liquidate automatically, while a bank's prime rate prices repayment risk based on whether a business will generate enough cash flow to service its debt.

Those are structurally different credit products, and the 250-basis-point distance between them reflects that structural difference.

A company typically borrows because it needs capital against cash flows, receivables, inventory, purchase orders, or future contracts. Those are the business fundamentals a bank underwrites, and Aave cannot yet evaluate on-chain.

Aave's own V3 documentation describes its borrowing model as always overcollateralized, with liquidations triggered when collateral coverage falls below defined thresholds.

That structure works well for crypto-native borrowers seeking stablecoin liquidity, but leaves corporate borrowers without a matching product.

What the infrastructure still lacks

Cash-flow underwriting requires evaluating whether a borrower can repay from sales, margins, and contracts over time.

DeFi protocols price token collateral dynamically and accurately, with no equivalent mechanism for assessing a company's revenue quality or covenant compliance.

Corporate borrowing is useful precisely because the borrower lacks liquid collateral equal to the loan amount, and DeFi's most battle-tested lending markets rely on overcollateralization to reduce default risk by removing the need for trust.

Real-world collateral requires valuation, verification, custody, legal enforceability, and recovery processes that smart contracts alone cannot execute.

Tokenized credit platforms like Maple and Centrifuge have made progress, but their combined distributed value of $5.31 billion represents a fraction of the receivables-backed lending that flows through traditional bank facilities each quarter.

Aave can liquidate ETH or USDC collateral in a single block, while corporate credit workouts involve covenants, waivers, restructuring negotiations, servicers, bankruptcy proceedings, and courts.

Aave's Ethereum/USDC borrow APR on May 26 was 12.82%, compared with a 30-day average of 4.72% for the same pool, which tripled over the measurement window.

A corporate treasurer managing a revolving credit facility needs a predictable cost of capital, and that swing makes on-chain variable credit structurally incompatible with standard treasury practice.

Aave's credit delegation mechanism lets suppliers delegate borrowing power to other users, with enforcement through off-chain legal agreements or on-chain smart contracts, showing that DeFi has the conceptual primitives for undercollateralized credit.

It also shows why the bridge to corporate borrowing still runs through legal infrastructure and off-chain trust, exactly the components DeFi has not yet automated at scale.

Two speeds

In the bull case, tokenized collateral rails, institutional credit managers, stablecoin settlement, and enforceable claims converge into a functioning corporate credit sleeve.

On-chain private credit could reach $100 billion to $300 billion, between 3.5% and 10.4% of the current US C&I market. The path runs through crypto-native firms and fintech lenders first, where borrowers already operate in digital asset environments, before expanding to traditional corporate borrowers.

April CPI at 3.8% year-over-year, payroll growth slowing to 115,000, and tightening bank credit standards create conditions in which programmable alternative credit rails should attract attention from treasury desks that already use stablecoins for settlement.

In the bear case, DeFi serves as a powerful liquidity market for crypto-collateralized borrowing, while corporate credit stays overwhelmingly on bank balance sheets.

On-chain credit holds in the $5 billion to $20 billion range, under 0.7% of the C&I market, as legal, underwriting, and recovery infrastructure matures more slowly than token markets do.

Banks retain the compliance, reporting, and legal recovery apparatus that corporate borrowers require, and building an equivalent on-chain infrastructure takes longer than deploying a new lending pool.

DeFi has demonstrated that on-chain money markets can handle deposits, borrow rates, automated liquidations, and global stablecoin liquidity at a meaningful scale.

The next opportunity in corporate lending lies in underwriting capability, legal enforceability, and institutional trust.

The post Aave is bank-sized, but $2.9T in corporate loans reveals the risk DeFi still can’t price appeared first on CryptoSlate.

Retail brokerage Robinhood has launched a breakthrough feature allowing customers to connect third-party artificial intelligence (AI) agents directly to their accounts. This system, known as Agentic Trading, enables advanced AI models to autonomously execute market strategies within a partitioned financial ecosystem.

Robinhood AI Trading News

Robinhood rolled out the beta phase of its Agentic Trading platform on May 27, 2026. Currently, the setup supports automated operations strictly for equities (stocks). While cryptocurrency execution is not available at launch, Robinhood confirmed that support for Robinhood Crypto and options will be integrated as the ecosystem expands out of beta.

What is Robinhood Agentic Trading?

Agentic Trading enables users to delegate deployment choices and execution power to an independent AI agent. Instead of relying on static algorithmic APIs, traders can connect LLMs (like Claude or ChatGPT) to evaluate data and adjust portfolios based on conversational natural language instructions.

To maintain security, Robinhood implemented the open-standard Model Context Protocol (MCP) server architecture. Built-in safeguards include:

• Siloed Accounts: AI agents cannot touch a user’s primary portfolio. They can only use funds explicitly moved to a separate, dedicated Agentic Trading account.
• Real-Time Monitoring: Holders receive instant push notifications for all automated operations, with a distinct app interface tracking live performance.
• Master Kill Switch: Investors maintain complete oversight and can immediately sever an agent's connection with a single tap.

What are Agentic Credit Cards

Alongside market access, Robinhood is bridging AI with everyday consumer spending via the new Agentic Credit Card. Available to Robinhood Gold members, this virtual credit card leverages secure banking MCP servers to let an AI agent shop autonomously on behalf of the customer.

Users can instruct their AI agent to scan the web for consumer items—such as tracking optimal travel deals—and authorize the purchase automatically when specific price thresholds are met. These virtual cards feature strict spending caps to insulate core financial assets.

After a brutal multi-week downtrend stemming from the $2,500 region, the Ethereum price is currently trading at $2,075, hovering above the psychologically vital $2,000 baseline.

The central question is whether the current consolidation is the final pause before a catastrophic $ETH coin crash below $2,000, or a classic liquidity hunt designed to trap short-sellers before a sharp bullish reversal.

How Other Cryptos Are Performing

The current weakness in $ETH does not exist in a vacuum; it is part of a systemic pullback visible across the entire crypto ecosystem. Heavy institutional liquidations and spot ETF outflows are weighing heavily on major assets:

• Bitcoin ($BTC): The premier cryptocurrency has lost its grip on the crucial $76,000 support level, down roughly 1.2% over the last session to trade near $75,800. A multi-day streak of net outflows from major U.S. spot Bitcoin ETFs has dented the near-term bullish momentum for $BTC.
• Ripple ($XRP): Despite positive fundamental updates to the XRP Ledger (XRPL), $XRP has steadied around $1.32. A failed local breakout keeps the asset locked within a narrowing trading range, closely tracking $BTC's macro pullbacks.
• Solana ($SOL): Much like $XRP, Solana has faced structural headwinds, sliding down to approximately $84 despite recording occasional green ticks in its isolated fund inflows.

Compared to its peers, $ETH has notably underperformed over the past month due to an extended ten-day streak of negative ETF flows, placing its immediate technical floors under maximum stress.

Ethereum Price Analysis: Deciphering the $2,000 Floor

An analysis of the daily ETH/USD chart reveals a highly defined horizontal support and resistance matrix that has dictated price action throughout the year.

The $2,100 Breakdown and the Orange Zone

Over the past few weeks, the $2,100 level served as a firm structural floor, repelling multiple downside attempts. However, the chart shows that after three successive tests, this defensive perimeter finally gave way. The price has descended into the orange-highlighted circle, finding temporary friction just above the primary horizontal support at $2,000.

When a critical level like $2,100 breaks, it typically triggers momentum expansion toward the next major psychological boundary. In this case, the $2,000 level represents the absolute line in the sand for macro bulls.

RSI Momentum: Approaching Oversold Territory

Complementing the candlestick structure is the Relative Strength Index (RSI), currently registering at 37.49, with its moving average sitting slightly higher at 37.65.

• Bearish Continuation Risk: Because the RSI has not yet dipped below the traditional oversold threshold of 30.00, there remains mathematical room for a final flush downward to sweep liquidity beneath $2,000.
• Bullish Divergence Potential: Conversely, the flattening out of the RSI while price makes lower local lows indicates that selling pressure is beginning to exhaust itself. This exhaustion is a primary prerequisite for a market fakeout.

The Bear Case: A Clean Break and Descent to $1,800

If macroeconomic headwinds—specifically via hotter-than-expected inflation metrics or persistent spot ETF outflows—continue to dominate the news, a clean breakdown becomes highly probable.

In a strict bearish continuation scenario, a daily candle closing decisively below $2,000 will invalidate the local accumulation thesis. This would effectively turn the $2,000 floor into a formidable overhead resistance level. According to historical volume profiles shown on the chart, the next defensive bastions for buyers are situated at $1,800 (marked by the teal horizontal line) and $1,600 (marked by the lower yellow support line).

Traders looking to manage their risk safely during such structural shifts often utilize secure storage solutions, which can be reviewed on our comprehensive guide to hardware wallets.

The Bull Case: The Liquidity Sweep and "Fakeout" Blueprint

Despite the grim short-term price action, several institutional and underlying variables point heavily toward a potential bullish fakeout (also known as a spring or bear trap) rather than a complete market collapse.

• What is a Market Fakeout? A fakeout occurs when an asset's price briefly breaches a well-known support level to trigger stop-loss orders and liquidate over-leveraged long positions. Once this deep pool of liquidity is absorbed by major market makers, the price rapidly and aggressively reverses in the opposite direction.

Institutional Accumulation Signals

While retail sentiment remains fearful, deep-pocketed entities are treating this correction as a premier buying window. Massive corporate treasuries and institutional buyers have been taking advantage of the sub-$2,200 discount, showing that structural demand remains strong under the surface of the spot market.

Furthermore, recent efforts to minimize operational selling pressure from major ecosystem foundations are helping establish a cleaner fundamental launchpad for the asset.

If a fakeout occurs, expect the price to momentarily wick down to the $1,950–$1,980 range to sweep stops before closing the daily candle back above $2,020. This behavior would confirm a structural failure to break lower, rapidly shifting momentum back toward the overhead targets at $2,400 and $2,600.

What to know:

• The cryptocurrency market has entered a critical consolidation phase in late May 2026.
• After a painful 40% drop over the last six months and a harsh rejection above $2.20, XRP's aggressive selling pressure is finally exhausting.
• Price action shows XRP is establishing a firm cyclical floor, offering a high-potential entry point for buyers.
• A breakout from this defensive posture eyes key resistance levels at $1.80, $2.20, and $2.50.

Is the XRP Bottom In?

Data from the daily charts strongly confirms that XRP has found its cyclical bottom at current prices. Despite a broader market slowdown that has dragged down top assets, $XRP has repeatedly held its ground above the $1.29 horizontal support line.

While the 40% drop over the last six months shaken out speculative weak hands, on-chain metrics show aggressive accumulation by institutional entities. With sell-side liquidity drying up on major exchanges, the path of least resistance for XRP is shifting heavily to the upside, making a trend reversal toward $2.50 highly probable.

XRP Analysis: Breaking Down the XRP Price Bottom

A closer look at the daily XRP/USD chart reveals a clear structural shift from an aggressive sell-off to a prolonged, tightly wound accumulation phase.

The $1.29 Support Floor Holds Firm

Following the steep 40% decline from its local highs, XRP found major buyer interest just above the $1.2931 horizontal support line. Despite multiple tests throughout April and May, bears have repeatedly failed to push the price decisively below this threshold. This tells us that institutional demand and retail accumulation are heavily concentrated in this pocket, validating it as a reliable market bottom.

Relative Strength Index (RSI) Divergence

The 14-period Relative Strength Index (RSI) is currently hovering around 41.18. While this indicates mild bearish momentum in the short term, it also highlights that XRP is approaching oversold territory on a macro scale. More importantly, the RSI has stopped making lower lows, showing a subtle bullish divergence against the stabilizing price action. This typically precedes a violent trend reversal as selling momentum completely dries up.

How High can XRP Price Reach?

With XRP hovering around $1.3452, entering a position at these levels offers a highly favorable risk-to-reward ratio. If the identified bottom holds and the broader crypto market enters an upward expansion phase, the potential percentage returns for investors targeting key resistance levels are substantial:

• Target 1 ($1.80): A rally to this initial psychological barrier represents a gain of +33.8% from current prices.
• Target 2 ($2.20): Reaching the previous local highs would yield a return of +63.5%.
• Target 3 ($2.50): A clean breakout into a fresh bullish expansion toward the $2.50 macro target represents an impressive +85.8% price increase.

To execute trades safely during these accumulation phases, choosing a secure and liquid platform is vital. You can evaluate top-tier trading venues using our comprehensive crypto exchange comparison.

When will XRP Price Turn Bullish?

The technical bottoming structure does not exist in a vacuum; it is heavily backed by shifting global fundamentals. While the chart shows a tightening coil, external events are providing the fuel needed for a violent breakout.

Global Regulatory Shifts

According to recent reports, regulatory clarity continues to act as a primary tailwind for Ripple. Japan’s upcoming reclassification of XRP under its strict Financial Instruments and Exchange Act, paired with progress on the U.S. CLARITY Act, has given institutional investors the legal safety they need to deploy capital into the asset.

Ecosystem Interoperability and Stablecoin Growth

Ripple is fundamentally transforming its utility narrative. The company recently backed a $6 million funding round for Squid, a cross-chain routing protocol, aiming to embed the XRP Ledger directly into over 100 blockchains. Concurrently, Ripple’s USD stablecoin (RLUSD) hit an all-time high supply of $1.76 billion, dramatically outperforming competitors. This expanding liquidity ecosystem ensures that XRP is no longer just a speculative tool, but core financial infrastructure.

Road to Recovery: The Key Obstacles Ahead

While the long-term outlook remains highly asymmetric to the upside, XRP faces immediate structural hurdles before it can trigger its violent expansion toward the $2.50 milestone.

The first major test for the bulls sits between $1.45 and $1.50. This zone previously acted as a rigid support-turned-resistance level. A daily candle close above $1.50 will confirm a bullish market structure break, likely triggering a rapid short-squeeze toward the $1.80 level.

Volume profiles indicate that thin liquidity exists between $1.50 and $1.80. This drop in liquidity—evidenced by Binance order books hitting multi-year depths—means that large orders can move the price much faster than usual. Once the immediate overhead supply is cleared, the upward move could happen in a matter of days. For broader context on how these movements align with major market leaders, keeping an eye on the $Bitcoin price remains essential, as macro liquidity trends still heavily dictate altcoin momentum.

From escalating military conflicts to systemic fractures in the banking and bond markets, the traditional financial architecture is under immense strain. Under normal historical conditions, such a barrage of negative catalysts would trigger a severe, prolonged capitulation across the high-risk asset spectrum.

Yet, Bitcoin has not only withstood these systemic shocks but managed to post consecutive positive monthly closures. This divergence between deteriorating global fundamentals and crypto market performance highlights a structural shift in investor psychology and asset allocation.

Has Bitcoin Formed a Structural Bottom?

A foundational principle in financial market analysis states that a market reaches its cyclical bottom when prices stop reacting negatively to bad news. Over the last three months, the macroeconomic environment has delivered a relentless stream of worst-case scenarios. Despite this, the Bitcoin price successfully printed green monthly candles for both March (+1.81%) and April (+11.87%), with May continuing to hold positive territory (+0.65%).

This persistent strength in the face of macro headwinds confirms that selling exhaustion has been reached. The market has fully priced in the negative externalities, signaling that the cyclical bottom for Bitcoin is firmly established.

The Macroeconomic Gauntlet: 3 Months of Global Chaos

To appreciate the significance of Bitcoin's current price action, it is necessary to examine the sheer scale of the negative catalysts that failed to depress the market.

1. Geopolitical Warfare (US and Iran)

The geopolitical landscape fractured severely following the initiation of direct military engagements between the United States, Israel, and Iran under Operation Epic Fury. The ensuing conflict severely disrupted the Strait of Hormuz—one of the world's most critical oil chokepoints—instantly threatening global trade and energy security. Historically, sudden outbreaks of war trigger an immediate flight from risk assets into cash and gold. While traditional equities staggered, Bitcoin maintained its structural integrity.

2. Multi-Year High Inflation & Energy Crises

Driven by the war-induced energy supply disruptions, headline inflation across OECD nations spiked aggressively, hitting a multi-year high of 4.0% in March. In the United States, energy inflation surged by double digits, forcing central banks to reconsider prolonged higher-for-longer interest rate frameworks. High inflation typically diminishes consumer purchasing power and dampens liquidity—yet Bitcoin's inflows remained net-positive.

3. Global Stock Dumps and the Bond Market Crisis

Simultaneously, public equities suffered intense liquidations. The intersection of highly leveraged private asset distress and rising long-duration sovereign bond yields sparked severe volatility. Institutional investors faced margin pressures globally, often forcing them to liquidate liquid assets to cover structural losses in the fixed-income and real estate sectors.

4. Yen Interventions & Carry Trade Dissolution

The currency markets experienced extreme turbulence as the Bank of Japan spent roughly ¥10 trillion in aggressive foreign exchange interventions to stabilize the rapidly depreciating Yen. The steepening of the Japanese yield curve shook the foundations of the global macro "carry trade," introducing massive systemic instability into international funding markets.

5. Quantum FUD

Compounding these macroeconomic pressures, the crypto-specific narrative was hit with a wave of Fear, Uncertainty, and Doubt (FUD) regarding rapid advancements in quantum computing. Sensationalist reports claimed that emerging quantum capabilities would imminently compromise Bitcoin’s SHA-256 encryption protocol, threatening the integrity of the network.

Why Bitcoin Did NOT Crash Yet

The structural behavior observed in the crypto news cycle reflects a classic financial phenomenon: the absorption of peak capitulation.

A market asset achieves a macro trend reversal when the volume of structural sellers is completely exhausted. At this juncture, even the most severe macroeconomic downgrades fail to induce lower technical lows because all participants inclined to panic-sell have already exited the market.

Instead of acting as a speculative tech stock, Bitcoin is increasingly treated as a systemic hedge against fiat debasement, sovereign debt crises, and geopolitical isolation. When the stability of major fiat pairs (like the Yen or Euro) is called into question, or when banking systems face contagion, the immutable and politically neutral architecture of Bitcoin transforms it into an alternative safe haven.

Data Analysis: Evaluating the Monthly Returns

An inspection of the empirical monthly returns highlights the anomalous nature of the 2026 price action:

The steep corrections observed in January (-10.17%) and February (-14.94%) effectively washed out late-cycle leverage and speculative retail positioning. When the geopolitical and inflationary shocks manifested in March, the market lacked the speculative sellers needed to drive prices lower. The subsequent +11.87% recovery in April, under peak wartime conditions, serves as definitive proof of institutional accumulation.

Investors seeking to navigate these volatile market environments safely are increasingly shifting capital away from centralized platforms prone to liquidity freezes, opting instead to evaluate security frameworks using dedicated hardware wallets comparison guides to secure their sovereign assets.

The cryptocurrency market has entered a sharp correction, erasing recent gains and catching many retail traders off guard.  Bitcoin (BTC) has plunged below the critical $77,000 support level, triggering a broader wave of liquidations across the altcoin space.

Why Are Cryptos Crashing Today?

For investors asking why cryptos are crashing right now, the sudden downturn is not tied to a single isolated event. Instead, it is the result of a simultaneous breakdown in geopolitical stability, fading momentum for favorable U.S. regulatory legislation, and severe stress building up in global fixed-income markets. These factors have collectively forced institutional investors to scale back risk, putting downward pressure on token prices.

Top 3 Reasons Behind the Crypto Crash

1. Escalating Geopolitical Tensions with Iran

Geopolitical instability remains a premier driver of financial market volatility. Recent reports from major media outlets, including CBS News, indicate that the United States could execute new military strikes against Iran. This comes amidst an ongoing conflict that has already heavily restricted commercial traffic through the vital Strait of Hormuz.

The immediate economic fallout of an expanded military intervention is felt in the energy sector. Crude oil prices, which have hovered near the $100 per barrel mark, face immediate upward pressure. Higher energy costs directly accelerate consumer price index (CPI) inflation. For the Federal Reserve—now led by newly appointed Chairman Kevin Warsh—resurgent inflation fears diminish the probability of anticipated interest rate cuts. Instead, it forces the central bank to maintain a hawkish stance or even consider further interest rate hikes, which historically drains liquidity out of speculative environments like cryptocurrency trading.

2. Diminishing Odds for the Clarity Act and SEC Delays

On the domestic front, regulatory headwinds are shifting from tailwinds to obstacles. In a matter of two weeks, political forecasting models tracking the Digital Asset Market Clarity Act of 2025 (H.R. 3633) saw the odds of the crypto market structure bill passing into law drop from a promising 75% down to 50%. The bill is highly anticipated by institutional players because it establishes a clear federal rulebook, distinguishing digital commodities under CFTC jurisdiction from securities.

Compounding this regulatory friction, the Securities and Exchange Commission (SEC) officially delayed a highly anticipated plan that would grant innovation exemptions for crypto firms to trade tokenized stocks on public blockchains. The regulatory pushback, driven by concerns over third-party token compliance and investor protection, has dampened short-term institutional optimism. Investors looking to benchmark exchange infrastructure before deploying capital can monitor institutional grade platforms via our crypto exchange comparison.

3. Global Bond Market and Debt Stress

The third pillars of the downturn rests heavily within the fixed-income markets. Government bond yields worldwide are surging to multi-year highs. The yield on the U.S. 10-year Treasury note has neared 4.7%, while the 30-year yield touched 5.19%. Concurrently, Japanese government bond yields are testing new heights as international debt holdings shift.

High sovereign debt yields present two distinct problems for crypto assets:

• Increased Cost of Capital: High yields make corporate and margin borrowing significantly more expensive, reducing the amount of speculative capital flowing into alternative assets.
• Risk-Free Return Competition: When traditional, government-backed bonds offer reliable yields near or above 5%, institutional capital frequently rotates out of volatile risk assets (like Bitcoin and altcoins) and into the safety of debt instruments.

Bitcoin Price Analysis: What Happens Next for BTC?

From a technical perspective, Bitcoin's failure to maintain its footing above $75,000 exposes the asset to further downside risk over the weekend.

If military strikes manifest over the weekend, the immediate emotional reaction from algorithms and spot traders will likely push BTC toward the primary support zone between $72,000 and $72,500. Conversely, if geopolitical headlines calm and no strikes occur, the market will likely experience an aggressive short-squeeze and reversal heading into the next weekly candle open.

During periods of heightened market volatility and rapid price movements, keeping your long-term assets secure in cold storage is paramount; you can explore market-verified security options via our hardware wallets comparison.

SoFi is making its SoFiUSD token available to members, marking a milestone in the convergence of regulated banking and blockchain.

Kraken customers can make use of their Bitcoin holdings and generate BTC yield without ever leaving the exchange.

Claw-Anything simulates a real digital existence and asks AI assistants to handle it. GPT-5.5, the best model available, scored 34.5%.

Mastercard has secured a highly coveted BitLicense in New York, anchoring its compliance-first strategy for stablecoins on Wall Street.

Retail brokerage Robinhood now lets users delegate stock purchases and credit card transactions to third-party AI systems.

While retail sentiment remains negative, Wall Street is quietly absorbing XRP supply via spot ETFs, fueled by a 63% monthly surge in the network's stablecoin capitalization.

Strategy has acquired 2.6 times of the total amount of Bitcoin miners have produced so far in this year despite the frequent volatility.

Pro-XRP attorney Bill Morgan and other commentators quickly dismissed the zero-sum narrative.

BlackRock's IBIT logged another 2,538 BTC outflow to Coinbase Prime as macroeconomic pressures continue to freeze institutional appetite.

The odds of Bitcoin dropping below $50,000 in price before the end of the year has increased to 50% on Kalshi as traders increasingly become bearish.

TLDR:

• Bitcoin’s May monthly candle is forming a Shooting Star after a sharp rejection from the $82,500 high.
• The STH MVRV failed to reclaim the 1.0 level on May 8, confirming the bounce lacked real momentum.
• Both the Coinbase Premium and Korea Premium are deeply negative, reflecting weak demand East and West.
• A $1.3B dark pool sell order on IBIT suggests institutions are quietly distributing Bitcoin off-exchange.

“Sell in May and walk away” is proving relevant for Bitcoin this year. After reaching $82,500 mid-month, BTC has retreated sharply to around $75,650.

The monthly candle is shaping up as a Shooting Star, a classic top-rejection pattern. Capital outflows from both the U.S. and South Korea are deepening the concern.

A $1.3 billion dark pool sell order has further fueled the bearish narrative heading into the monthly close.

Old Wall Street Adage Finds New Life in Bitcoin’s May Price Action

The phrase “sell in May and walk away” has long been associated with traditional equity markets. This year, however, Bitcoin’s price behavior is giving the saying fresh relevance in the crypto space. The monthly chart tells the story clearly and directly.

Analyst Sunny Mom captured the setup in a recent post, stating that Bitcoin’s May monthly candle is shaping up as a Shooting Star.

After peaking near $82,500 mid-month, the price was heavily rejected and retraced to around $75,650, near the month’s lows. The post described it as a clear “top rejection,” with supply dominant at the highs.

The Shooting Star pattern appears when bulls push prices higher but fail to hold gains, leaving a long upper wick. It signals that sellers overwhelmed buyers at elevated levels, handing control back to the bears. A weak monthly close at current levels would confirm the failed recovery attempt.

On-chain data adds further weight to the technical warning. The STH MVRV failed to reclaim the critical 1.0 profit-loss line on May 8, showing that short-term holders remain in a loss position.

When recent buyers cannot reach profitability on a bounce, the rally is signaling a lack of momentum from the start.

Capital Flow Data Backs the Case for Stepping Aside in May

Beyond the chart, the money flow data tells a consistent story of retreat. The Coinbase Premium has slipped to −0.136, sitting near recent lows. That negative reading reflects a clear absence of aggressive buying from U.S. institutional players.

Across the Pacific, the Korea Premium has dropped to −2.1, a deeply negative level. Korean retail investors, historically among the most active crypto participants, are sitting on the sidelines. Both Eastern and Western demand pillars are pulling back at the same time, a rare and telling alignment.

Then came the development that sharpened the seasonal narrative further. On May 26, a $1.3 billion sell order for the IBIT spot Bitcoin ETF surfaced in a dark pool.

Combined with the weak Coinbase Premium, it strongly points to institutions quietly distributing holdings off-exchange to avoid crashing the market.

The key level now standing between current prices and a sharper drop is $75,400. That zone marks the first major URPD support wall, and it is holding, though barely.

A clean break below it could send BTC toward $70,500 quickly. For now, the “sell in May” script is playing out with uncomfortable precision.

The post “Sell in May and Walk Away” Plays Out as Bitcoin Flashes Bearish Signals appeared first on Blockonomi.

The online gambling space is split between two clear camps. On one side are the established traditional operators that have built their brands over decades. On the other are the crypto-first casinos that have grown fast over the last few years. Bet365 sits firmly in the first camp. Stake.com is one of the biggest names in the second. Both have huge followings, but they appeal to very different kinds of players.

A new name is now starting to draw attention from both sides. ZunaBet launched in 2026 with a crypto-first design, more than 11,000 games, a complete sportsbook, and a loyalty program built around dragons. This article looks at how Stake.com and Bet365 compare and why ZunaBet is shaping up as the platform many players are trying next.

The Two Established Names

Stake.com built its reputation as a crypto-first casino and sportsbook. It runs on Bitcoin, Ethereum, and other major coins, and its identity has been shaped by speed, a clean interface, and a serious sportsbook that includes deep esports coverage. Stake has put a lot of money into sponsorships with major sports teams and creators, which has made it one of the most recognizable names in crypto gambling.

Bet365 took the opposite path. It came up through UK sports betting and grew into one of the largest traditional gambling operators in the world. The sportsbook is its strongest product, with deep markets and one of the best live betting setups in the industry. The casino, poker, and live dealer products came later. Payments stick to cards, bank transfers, and a small group of e-wallets, and Bet365 only operates in regulated markets with strict rules.

Both platforms work well for what they do. Stake serves players who want a fast crypto-based experience. Bet365 serves players who want a familiar, regulated, fiat-based one. The space between them, where crypto meets a massive game library and a fully featured sportsbook, is where newer platforms are stepping in.

Where ZunaBet Comes In

ZunaBet runs under Strathvale Group Ltd and operates on an Anjouan gaming license. The team behind it has more than 20 years of combined industry experience, but the platform itself is brand new and built specifically for a crypto-first audience.

The library is one of the biggest in the space. ZunaBet carries 11,294 games from 63 providers. The lineup includes Pragmatic Play, Hacksaw Gaming, Yggdrasil, BGaming, and Evolution. Slots take up most of the catalog, with RNG table games and live dealer rooms covering the rest. That kind of variety puts ZunaBet at the high end of the crypto casino space.

The sportsbook sits alongside the casino as a full product. It covers football, basketball, tennis, NHL, and other major sports with proper depth. Esports gets equal treatment, with markets for CS2, Dota 2, League of Legends, and Valorant. Virtual sports and combat sports finish out the menu. Players can move from a slot to a sports bet without leaving the platform.

Crypto vs Traditional Payments

Payments are where the three platforms split most clearly.

Bet365 runs entirely on traditional banking. Cards, bank transfers, and a few e-wallets handle the bulk of activity. These methods are familiar but slow. Withdrawals can take a few business days. Some banks block gambling transactions. Players in certain regions are stuck with very few options.

Stake.com is crypto-first and supports a solid list of cryptocurrencies. Withdrawals are quick, fees are light, and the overall flow is smoother than dealing with a bank.

ZunaBet pushes the crypto-first model even further. It supports more than 20 cryptocurrencies, including Bitcoin, Ethereum, USDT across multiple chains, Solana, Dogecoin, Cardano, and XRP. The platform does not add processing fees, and withdrawals usually clear in minutes. Players in any region with a wallet and a connection can use it the same way, which removes much of the friction that comes with banking-based systems.

This kind of setup is a big part of why the newer wave of platforms is pulling players in. For a generation that already uses crypto for trading, payments, and saving, gambling with it is just one more natural use.

How the Loyalty Programs Compare

Loyalty systems are another spot where each platform shows its personality.

Bet365 runs a standard rewards system. Players earn points based on wagering and unlock perks like cashback and free spins. It works, but it tends to feel similar to most other traditional VIP setups.

Stake.com built a more modern rewards model with rakeback, weekly bonuses, and rank-based perks. It has been popular with high-volume players and is part of why Stake has held a strong place in the crypto market.

ZunaBet went in a different direction altogether. Its loyalty system is built around a dragon evolution theme with six tiers: Squire, Warden, Champion, Divine, Knight, and Ultimate. Each tier brings better rakeback, starting at 1% and reaching 20% at the top. Higher tiers also unlock more free spins, with up to 1,000 available at the highest level. VIP club access, double wheel spins, and a mascot named Zuno round out the experience.

A 20% rakeback at the top tier is one of the highest in the industry. The bigger draw is how the progression feels. Climbing through dragon tiers feels closer to leveling up in a game than tracking points on a card. That kind of design lines up well with how players already engage with apps and games outside of gambling.

The Welcome Offer

The welcome bonus is often the first signal of how generous a platform is willing to be. Bet365 offers welcome bonuses tied to a single deposit, usually with strict wagering rules. Stake.com tends to focus less on a big upfront bonus and more on ongoing rewards and rakeback for active players.

ZunaBet leans into the welcome offer in a big way. It spreads the package across three deposits, with a total value of up to $5,000 plus 75 free spins. The first deposit gets a 100% match up to $2,000 plus 25 spins. The second adds a 50% match up to $1,500 plus 25 spins. The third closes things off with another 100% match up to $1,500 plus 25 spins. Together that works out to a 250% bonus across the first three deposits, which is well above what most platforms in the space offer.

Why ZunaBet Stands Out

The strength of ZunaBet is not just one feature but the way the whole platform fits together. Crypto-first payments. A huge game library. A full sportsbook with serious esports coverage. A loyalty program with real personality. Each piece was designed with the same kind of player in mind. Someone who already lives online, manages money in wallets, follows esports, and wants a casino that actually feels modern.

Stake.com serves a similar crowd but with its own style. Bet365 serves a more traditional audience. ZunaBet sits in the middle of those two worlds, combining the speed and modern feel of crypto casinos with the kind of library size and loyalty design that newer players expect.

A Look at What Comes Next

Stake.com and Bet365 are not going anywhere. Both have strong brands, big user bases, and proven products. They will keep doing what they do well for the players who prefer their approach.

But the bigger picture is shifting. Crypto has gone mainstream. Esports betting is now a major category. Players want faster payments, bigger libraries, and platforms that feel alive. ZunaBet was built around those expectations from day one rather than retrofitted from an older model. It is still new, but it is already drawing attention as one of the most interesting casino launches of 2026. For players asking which platform to try next, ZunaBet is quickly becoming the answer.

The post Stake.com vs Bet365: Is ZunaBet the Next Platform Players Try? appeared first on Blockonomi.

Key Highlights

• BTDR stock advances following Michael Potter’s appointment as chief financial officer.

• Shares climb past $15 as the company accelerates AI infrastructure initiatives.

• Bitdeer appoints Michael Potter to CFO position amid strategic AI pivot.

• Stock strengthens as firm broadens focus beyond cryptocurrency mining operations.

• Potter assumes CFO role while BTDR maintains momentum near multi-month peaks.

Shares of Bitdeer Technologies Group (BTDR) climbed Wednesday following the announcement of a significant executive transition. The stock reached $15.31, posting a 1.29% increase after recovering from earlier session lows around $14.40. The upward movement accompanied news that Michael Potter would assume the chief financial officer position.

Bitdeer Technologies Group, BTDR

Potter Assumes Financial Leadership Position

Bitdeer announced that current CFO Jianchun Liu will depart the position on June 30, 2026. Liu will transition to a principal advisor role, maintaining his relationship with the organization. The company clarified that Liu’s departure stems from personal considerations without any disagreement.

Michael Potter arrives with extensive technology finance credentials. His most recent position was CFO at Corsair Gaming, where he served from 2019 through 2025. Potter played a key role in Corsair’s 2020 initial public offering and managed subsequent capital markets activities.

His background includes leadership positions across semiconductor, renewable energy, and technology hardware sectors. Potter previously held executive finance positions at Canadian Solar, Lattice Semiconductor, NeoPhotonics, and STATS ChipPAC. Additionally, he contributed to governance through board service at renewable energy and solar sector companies.

Company Diversifies Infrastructure Portfolio

This executive appointment arrives as Bitdeer pursues a more diversified business approach. While Bitcoin mining remains the primary revenue generator, the organization increasingly emphasizes artificial intelligence and cloud computing capabilities. Recent corporate communications position Bitdeer as an infrastructure provider serving both AI and cryptocurrency mining sectors.

The company has intensified its focus on GPU cloud computing, high-performance computing services, and colocation offerings. According to a recent Benchmark analysis, AI cloud revenue has reached an annualized run rate approaching $70 million. Furthermore, the company has deployed over 4,100 GPU units achieving utilization rates exceeding 90%.

Bitdeer commands approximately 3 gigawatts of power capacity distributed globally. Operations span facilities in the United States, Norway, Bhutan, Ethiopia, Canada, and Malaysia. This infrastructure allows the company to evaluate converting existing mining operations into AI cloud and colocation services.

Stock Performance Remains Strong

BTDR experienced initial selling pressure before rallying back above the $15 threshold. The shares traded near six-month peak levels despite the morning weakness. This recovery sustained investor attention on Bitdeer’s management transition and infrastructure diversification strategy.

Self-mining operations continue providing the financial foundation, producing $146.9 million in recent quarterly revenue. AI infrastructure now represents an additional growth avenue as computational demand expands. The organization persistently evaluates its power infrastructure for conversion to higher-margin uses.

The Norway development remains central to this strategic vision. Leadership anticipates the Tydal facility will become Norway’s largest operational artificial intelligence data center upon completion. Therefore, Potter joins during a critical period as Bitdeer balances cryptocurrency mining revenue streams with artificial intelligence infrastructure development.

The post Bitdeer (BTDR) Stock Climbs Following Michael Potter’s CFO Appointment appeared first on Blockonomi.

TLDR:

• Hyperliquid generated nearly $800M revenue in 2025 without raising venture capital funds.
• The HYPE token reached a $13B market cap despite the platform remaining blocked in the U.S.
• Hyperliquid processed $2.9T in perpetual futures volume during 2025 across global markets.
• Grayscale believes HYPE remains undervalued compared with traditional exchange businesses.

Grayscale Research has identified Hyperliquid as the standout success story in modern digital assets. The decentralized exchange generated approximately $800 million in revenue during 2025.

It reached the 8th largest crypto asset by market capitalization. All of this was achieved without a single dollar of venture capital funding.

Notably, the platform remains geoblocked in the United States, yet its growth trajectory has drawn serious institutional attention.

How Hyperliquid Built a $800M Revenue Machine Without VC Backing

Grayscale’s report frames Hyperliquid’s rise as something the digital assets industry rarely produces. The platform launched publicly in August 2023, before Bitcoin ETPs arrived in U.S. markets.

It built its foundation during a relatively quiet period for decentralized finance. That timing proved deliberate rather than coincidental.

Rather than raising venture capital, Hyperliquid distributed approximately 30% of its HYPE token supply directly to early users. That decision shaped who owned and cared about the platform from day one.

The initial holder base consisted of traders, builders, and community participants. They had already used the product before they ever held the token.

This funding model created a different kind of alignment than most crypto projects carry. There were no VC lockup schedules or insider allocations waiting to pressure the market.

Trust, which Grayscale notes is scarce in this category, became a genuine competitive advantage. Users perceived Hyperliquid as a platform building for them rather than extracting value from them.

Grayscale’s report also points to product focus as central to the revenue story. Hyperliquid was engineered specifically around perpetual futures trading. It was not a general-purpose chain that happened to support a trading application.

That narrow focus allowed the team to prioritize exactly what active traders demand: fast order entry, deep liquidity, and reliable execution.

The Platform That Geoblocks America Yet Ranks 8th by Market Cap

Perhaps the most striking detail in Grayscale’s report is what Hyperliquid achieved while locked out of the United States.

U.S. users remain unable to access the platform due to regulatory ambiguity around perpetual futures and decentralized exchanges.

Despite that, HYPE carries a circulating market capitalization of roughly $13 billion. That places it among the eight largest crypto assets globally by market value.

Grayscale processed $2.9 trillion in perpetual futures volume across the platform during 2025. Open interest currently sits at around $7 billion.

That positions Hyperliquid as the third or fourth largest crypto perpetual futures exchange by open interest. All of this activity came exclusively from non-U.S. participants.

The report further notes that Hyperliquid has moved well beyond crypto-native markets. Through its HIP-3 framework, third-party developers can deploy perpetual contracts on traditional assets.

Oil perp volume on the platform surpassed $4 billion in a single 24-hour session on April 9, 2026. During that window, it briefly exceeded Bitcoin perpetual volumes on the same platform.

Bloomberg described Hyperliquid as a round-the-clock venue for leveraged commodity bets. An officially licensed S&P 500 perpetual contract now trades on the platform every day of the week.

Silver perp volume reached over $4 billion daily during the February 2026 price spike. Grayscale frames these data points as evidence that Hyperliquid is evolving into a 24/7 market structure layer for real-world assets.

What Comes Next for Hyperliquid and the HYPE Token

Grayscale’s report identifies U.S. regulatory clarity as the most consequential near-term catalyst for Hyperliquid. The Commodity Futures Trading Commission has recently signaled movement toward frameworks that could accommodate perpetual-like products.

Coinbase, Kraken, Robinhood, and Kalshi are already positioning for compliant perp offerings. That momentum points toward a market structure shift that could directly benefit Hyperliquid.

The HYPE token currently trades at roughly 14 times earnings over the four quarters ending Q1 2026. Grayscale compares this to high-growth public exchange businesses like Robinhood and Interactive Brokers.

Those companies trade at multiples between 35 and 50 times earnings. That gap forms the basis of Grayscale’s view that HYPE offers meaningful upside over time.

Fee mechanics reinforce the token’s value case. Around 99% of platform trading fees flow into an assistance fund that converts fees into HYPE and burns them.

Because burns consistently exceed new token issuance, circulating supply has trended lower. Grayscale draws a direct parallel to share buyback programs in traditional equity markets.

Risks remain part of the picture Grayscale presents. HYPE carries annualized price volatility near 80%, roughly 40 percentage points above Bitcoin.

The platform runs on closed-source software with a more centralized validator set than comparable blockchain networks. U.S. market access remains contingent on regulatory decisions that have not yet reached a final form.

The post Grayscale Calls Hyperliquid the Biggest Breakout Success in Modern Crypto Markets appeared first on Blockonomi.

Key Highlights

• Partnership aims to deliver tokenized securities on Stellar blockchain by early 2027
• DTC-custodied assets will transition to blockchain format under regulatory supervision
• Stellar’s public network chosen to support DTCC’s digital asset infrastructure
• Initiative designed to accelerate settlement times for tokenized financial instruments
• Project bridges public blockchain technology with established securities infrastructure

The Depository Trust & Clearing Corporation and Stellar Development Foundation have announced a collaborative initiative to deploy tokenized securities on Stellar’s blockchain platform by 2027. This partnership combines established market infrastructure with a public blockchain network recognized for facilitating payments and digital asset transfers. The collaboration represents a significant expansion of DTCC’s ongoing efforts to digitize conventional financial assets.

Stellar Network Selected for Digital Asset Infrastructure

DTCC has indicated that tokenized DTC assets will debut on Stellar during the first six months of 2027. This technological integration will facilitate the transformation of conventional securities into blockchain-native instruments. The platform will also manage corporate actions, regulatory reporting, and various asset lifecycle operations.

This initiative builds upon a December 2025 No-Action Letter issued by the U.S. Securities and Exchange Commission. That regulatory guidance authorized DTC to establish a tokenization service for real-world assets held in DTC custody. Consequently, DTCC can proceed with tokenized security development within an approved regulatory environment.

According to the organization, tokenized DTC assets will maintain conventional investor protections, rights, and security measures. Market participants can therefore access digital asset formats while preserving DTC’s established custody safeguards. This framework creates direct connectivity between tokenized instruments and current clearing and settlement infrastructure.

Enhanced Settlement Speed and Market Accessibility Expected

DTCC anticipates the platform will enable accelerated settlement cycles, enhanced asset transferability, and extended market operating hours. The organization also projects opportunities for decreased operational expenses, minimized counterparty risk, and improved market transparency. These objectives position tokenized securities within a comprehensive market modernization strategy.

Prior to the official launch, DTCC and SDF will collaborate to evaluate potential asset categories. Candidates may include securities from Russell 1000 companies, widely-held exchange-traded funds, and various U.S. Treasury instruments including bills, bonds, and notes. DTC will ensure each implementation aligns with its regulatory obligations.

DTCC contributes over five decades of clearing and settlement expertise to this collaboration. Stellar provides a public blockchain network designed for cost-efficient transactions and compliance-oriented financial applications. The partnership seeks to unite traditional market liquidity with emerging digital infrastructure.

Broader Blockchain Integration Strategy Outlined

This Stellar collaboration represents one component of DTCC’s comprehensive, standards-based multi-chain approach. DTCC Digital Assets intends to incorporate multiple Layer 1 and Layer 2 blockchain networks progressively. The tokenization service will therefore operate across various blockchain platforms rather than remaining exclusive to a single network.

SDF characterizes this integration as infrastructure connecting public blockchain ecosystems with regulated financial markets. Stellar currently facilitates payment systems, cross-border remittances, and securities-related functions throughout its network. This operational foundation positions the blockchain for a practical role in tokenized securities development.

The scheduled deployment could represent a pivotal advancement for real-world asset tokenization within United States financial markets. DTCC seeks to enable institutional-scale operations while maintaining existing market protections. Upon implementation, Stellar-based tokenized securities will establish direct connections between public blockchain systems and DTC-custodied financial assets.

The post DTCC Partners with Stellar for 2027 Tokenized Securities Rollout appeared first on Blockonomi.

Tuesday turned ugly for crypto markets, with a broad wave of selling hitting altcoins across the board, led by Zcash (ZEC), which dropped 11%, World Liberty Financial’s WLFI, which was down 8%, and Ondo Finance (ONDO), falling 7%.

The losses came against a backdrop of rising bearish sentiment in the crowd, which, according to blockchain analytics firm Santiment, has historically happened right before prices rebounded.

Details of the Sell-Off

Santiment flagged the damage in a post on X earlier today, noting drops in Ondo, Zcash, WLFI, and DeXe, among others.

For Ondo, the timing was particularly grim, seeing as the dip came right on the heels of the passing of 32-year-old founder and CEO Nathan Allman. The company announced that longtime President Ian De Bode will take over as CEO. The token is now trading near $0.41, putting its performance in the last seven days up by roughly 9%.

Zcash’s 11% single-day drop was the sharpest among the named losers, although at the time of writing the decline was at about 7.5% in the last 24 hours, with ZEC trading at around $570. For context, the asset is up 60% over the past month and nearly 970% across the last year, so the daily move looks less alarming against that backdrop.

Meanwhile, WLFI’s 8% dip added to a difficult stretch for the token, which hit a new all-time low in late April after crashing 16% in one day. It has had to navigate a controversial lock-up proposal, a lawsuit by Tron’s Justin Sun, and continued scrutiny over ties to the Trump family.

It Wasn’t All Red

Despite the losses mentioned above, the weekly picture looked different for some tokens. For example, NEAR was up more than 55% over seven days, and it was changing hands around the $2.50 level, although it pulled back nearly 8% on Tuesday alone. Another gainer was Hyperliquid’s HYPE token, which went up 25% per Santiment’s data.

However, the week’s standout was RAIN, which hit an all-time high of around $0.012 on Tuesday after climbing almost 55% for the week and over 44% in the last 24 hours alone.

Separate data from Santiment posted on the same day showed that bearish crowd expectations have been building for about 10 days now, with the firm noting that this kind of collective lean toward caution has historically heralded price recoveries, considering that markets tend to move against the crowd’s prevailing mood.

But traders will have to wait and see whether that plays out this time, especially with Bitcoin still stuck below $77,000 and struggling to break above its descending 200-day moving average near $80,000.

The post Altcoins Crushed as Bearish Sentiment Sweeps Crypto Markets appeared first on CryptoPotato.

Two recently launched US exchange-traded funds linked to Hyperliquid’s HYPE token are off to a strong start.

New data suggests that the funds have reached a milestone in just 10 days of trading that Bitcoin, Ethereum, and Solana ETFs failed to match.

Strongest Crypto ETF Debut Yet

Kairos Research said spot HYPE ETFs absorbed 1.04% of HYPE’s market cap in just their first 10 trading days. The firm called it the strongest debut for any spot crypto ETF so far. To put things into perspective, spot Bitcoin ETFs reached 0.59%, while that of Ethereum stood at 0.41%, excluding GBTC and ETHE outflows.

Meanwhile, spot Solana ETFs came in at 0.31%.

21Shares’ THYP and Bitwise Asset Management’s BHYP have together pulled in more than $95 million in net inflows within weeks of launching. Bloomberg ETF analyst Eric Balchunas had previously described the timing of the launches as “perfectly timed.” THYP, which launched on May 12 on Nasdaq, became the first HYPE-related ETF available in the US market and has attracted $44 million in net inflows as of May 26. BHYP followed two days later on May 14 and has already recorded $55 million in net inflows, according to data compiled by SoSoValue.

The funds have recorded nine straight days of inflows, with no single day of outflows during the entire period. On Tuesday alone, Bitcoin and Ethereum ETFs collectively shed almost $370 million, while Solana funds recorded no flows for the day.

Sharp Monthly Gains

Strong inflows into HYPE ETFs have coincided with a steep rise in the underlying token’s price. While leading crypto assets have failed to establish a solid uptrend this month, HYPE has gained close to 50% during the same period. At the time of writing, the token is trading near $62.31.

On-chain activity revealed one trader who made a well-timed move on this run-up. According to Lookonchain, a trader created a new wallet 46 days ago and used $5 million in USDC to buy HYPE. After holding the position for over a month, they sold all their HYPE on Tuesday for $7.51 million. The trade resulted in a profit of a whopping $2.51 million in just 46 days.

The post Spot HYPE ETFs Just Crushed Bitcoin and Ethereum ETF Debuts appeared first on CryptoPotato.

Manuel Aráoz, co-founder of smart contract security firm OpenZeppelin, went public on May 26 with a blunt recommendation that people should get out of DeFi, all of it, including the blue chips.

According to him, AI-powered coding agents have tilted the security game so far toward attackers that no protocol can currently be trusted to hold user funds.

Aráoz’s Warning

The software engineer wrote in a post on X;

“PSA: I now consider all of DeFi unsafe.”

He also said he has been privately advising friends and family to exit all DeFi positions, naming Aave, MakerDAO, and Compound as protocols he no longer considers safe.

His reasoning is based on asymmetry: defenders must find and fix every vulnerability, while attackers need only one to cause damage. Now, with AI coding agents capable of scanning smart contracts faster and more thoroughly than any human security team can, Aráoz feels the asymmetry has become unworkable.

OpenZeppelin itself recently noted that crypto companies lost more than $3.4 billion to hacks in 2025; however, it blamed most of that theft on compromised credentials, operational failures, and code shipped between audits, rather than on smart contract bugs.

This year has also seen a rollercoaster of attacks, with more than $650 million stolen in April alone. Of that amount, $292 million came from an exploit on KelpDAO, with another $285 million siphoned from Drift Protocol following what experts say were months of social engineering.

Pushback From X Users

Against that backdrop, Aráoz’s warning landed hard, but people immediately pushed back. One of those criticizing the post was Aave Chan Initiative founder Mark Zeller, who held nothing back.

His counter was data-driven: he pointed out that fewer than 10% of DeFi issues in the past year stemmed from code-level vulnerabilities, with most failures, according to him, tracing back to poor risk parameters, collateral mismanagement, and weak operational security, not AI-assisted exploits.

Several others echoed Zeller’s view, though with slightly less heat. Phoenix Lab co-founder Sam McPherson indicated that smart contracts of blue-chip DeFi platforms were “quite safe these days” and pointed to opsec failures as the real culprit behind most of the major hacks that have happened recently.

Another X user, Polaris Finance developer Robert, made a similar distinction, saying that actual smart contract exploits are “almost non-existent these days.” He added that recent breaches have largely involved centralized components that allow human control rather than the immutable code beneath them.

Ethereum co-founder Vitalik Buterin also has a different view on AI and its effect on crypto security, writing earlier this month that AI-assisted formal verification could actually make crypto systems more secure over time. According to him, developers can use AI to write both the code and the mathematical proofs of its correctness.

The post AI Coding Agents Have Made All DeFi Unsafe, Security Expert Says appeared first on CryptoPotato.

Ethereum is trading at $2,080 and grinding lower into a zone where the technical picture is bleak on the surface, but quietly building something more interesting beneath the surface.

The 100-day moving average sits just above as a lost reference point; the ascending channel floor is on the verge of a breakdown, yet the 4-hour chart is sketching out what may be a genuine bullish reversal pattern.

Whether it develops into something real or simply unwinds into another leg lower is the central question heading into June.

Ethereum Price Analysis: The Daily Chart

On the daily chart, the price has continued to drift lower since the mid-May rejection from the $2.4K area. ETH is now trading at $2,080, with the 100-day moving average sitting just above at approximately $2.2k, which is close enough to be relevant but is acting consistently as resistance. The ascending white channel’s lower boundary is barely holding, and the RSI has deteriorated into the 35–40 range, indicating selling pressure without yet reaching an oversold extreme.

The $1.8K demand zone is now the primary downside reference, sitting roughly $280 below.

This distance could be covered quickly if the channel floor were to fail. A recovery above the 100-day moving average, on the other hand, is the minimum requirement to stabilize the daily structure. Further above, reclaiming $2,400 would genuinely change the mid-term narrative for Ethereum. Until one of these scenarios happens, the daily chart is simply a map of tightening support with shrinking room for error.

ETH/USDT 4-Hour Chart

The more interesting development is on the 4-hour chart, where a potential inverse head-and-shoulders pattern has been forming over the past week. The left shoulder printed near $2.1k, the head formed at the low around $2k, and the price is currently carving out what appears to be the right shoulder near $2.8k.

The neckline sits at approximately $2.15k, and the pattern’s measured move, should the neckline break, projects a rebound at least toward $2.25k, but could move further higher toward the key $2.4K supply zone once more.

The pattern is unconfirmed and needs to be treated as such.

A right shoulder that holds above the $2k support zone and then drives a 4-hour close above the $2.15K neckline would be the trigger. This would represent the first technically meaningful reversal signal since the correction began in early May. A failure of the right shoulder, however, would lead to a drop below $2k, invalidate the setup entirely, and open a potential path toward the $1,800 zone below.

On-Chain Analysis

Ethereum’s exchange reserve currently stands at 14.8M ETH. This figure places current sell-side availability near its lowest level in the past few years. The current reserve level has been reached despite the price sitting at $2k. This means that the drawdown from $4.8k has not produced the kind of exchange inflows that would indicate mass capitulation or distribution by long-term holders.

Yet, the modest uptick from 14.4M in early May to 14.8M is worth monitoring. A continued rise would suggest holders are beginning to move supply back onto exchanges at current levels, which could add selling pressure to an already fragile price structure. However, for now, the reading remains historically thin, and the implication is that when buyers eventually do step in, they will find an order book with less available supply than at almost any point in recent history, which could make a recovery more likely.

The post Ethereum Price Prediction: ETH Faces $1.8K Risk Unless Bulls Reclaim This Critical Level appeared first on CryptoPotato.

XRP is trading at $1.33 as May draws to a close. It is quietly slipping to its lowest levels since March without any particular catalyst. The move is just a slow, grinding drift lower that has characterized the altcoin’s performance throughout the second half of the month.

The $1.20 support band is the closest it has been in weeks, and the 100-day moving average has been surrendered once again. The XRP/BTC pair is also testing its recent low and has looked increasingly fragile.

Ripple Price Analysis: The USDT Pair

Against USDT, the cryptocurrency is just below the upper boundary of the descending channel. The 100-day moving average at approximately $1.40 is now an overhead resistance after being surrendered during the May rollover, and the 200-day moving average continues to decline around $1.60.

The RSI is also hovering around 40, a soft reading with no sign of a floor forming.

The $1.20 demand zone is now close by, which makes the next few daily closes genuinely consequential. A potential breakdown below $1.20 would mark the first breach of that level since the February wick, potentially triggering a further crash toward the $0.60 zone. On the other hand, any recovery attempt first needs to reclaim $1.40 and the 100-day moving average to suggest a genuine recovery could form.

The BTC Pair

The XRP/BTC pair is trading at 1,760 sats and is pressing the pink horizontal support level, which marks the recent low near 1,730 sats.

The price has struggled to sustain a modest recovery above 1800 sats. The RSI oscillating between 30 and 60 throughout May, without any sustained directional move, reflects a pair in exhausted equilibrium rather than clear directional momentum.

The 100-day moving average at approximately 1,900 sats and the 200-day moving average near 2,050 sats remain the dynamic recovery targets on both sides of the critical 2,000 supply zone.

Below, the lower channel boundary and the demand area near 1,500 sats are the next potential targets if the recent low breaks down. As things stand, XRP is expected to continue underperforming BTC, as the market remains largely unoptimistic about Ripple.

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