Live Feed

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said it is incorrect to assume that the only move ahead for the Fed is to cut interest rates.

U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins has stated that regulators must clarify how existing frameworks apply to software applications when formulating future rules for on-chain financial markets. According to The Block, the agency is currently reviewing an upgrade to its securities regulations for on-chain activities. This review includes the potential creation of new rules on qualification requirements for crypto exchanges, brokers, dealers, and clearing agencies. Atkins explained that software applications do not fit neatly into the SEC's traditional regulatory roles, such as clearing agencies, brokers, or exchanges. The report also highlighted Atkins' crypto-friendly stance, contrasting it with that of former Chairman Gary Gensler, who maintained a cautious approach and argued that most cryptocurrencies fall under the SEC's jurisdiction.

British sprinter CJ Ujah has been charged in connection with a cryptocurrency fraud scheme, BeInCrypto reported. According to the report, UK police recently indicted 10 individuals, including Ujah, for allegedly stealing seed phrases by impersonating police officers and cryptocurrency companies. Ujah was previously suspended from competition for 22 months following a positive doping test at the 2020 Tokyo Olympics. He has been released on bail until his trial on May 28.

Payward, the parent company of global cryptocurrency exchange Kraken, has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a charter to establish a federal trust company. The move is seen as a significant step toward becoming a federally regulated crypto bank. If approved, the new entity will be named Payward National Trust (PNTC). The institution plans to offer federal-level cryptocurrency custody and trust services to institutional investors. This strategic expansion follows the company's existing Wyoming Special Purpose Depository Institution (SPDI) charter and its success in securing a Federal Reserve master account.

In response to MicroStrategy (MSTR) founder Michael Saylor's analogy comparing the company's preferred stock (STRC) to a passenger jet, Bitcoin to a fighter jet, and MSTR stock to a rocket, Euro Pacific Capital CEO Peter Schiff warned that all three will crash.

Tom Lee, chairman of Bitmine (BMNR) and co-founder of Fundstrat, has predicted that Bitcoin could rise to between $150,000 and $200,000 by the end of the year, with Ethereum potentially reaching $9,000 to $12,000. He also emphasized that the crypto winter is over.

Cumulative trading volume on a related Polymarket contract surpassed $33 million minutes after the U.S. Department of Defense released its first files on Unidentified Aerial Phenomena (UAP). The department published the files last week following a transparency directive from President Donald Trump. In response, traders on the platform are pricing in an 18% probability that the U.S. will officially disclose the existence of extraterrestrial life by the end of the year.

The S&P 500 index set a new all-time high during trading, surpassing the 7,400 mark and extending its gains to 0.84%.

Cryptocurrency exchanges including Coinbase, Kraken, and Gemini are lobbying to ease regulations on digital assets, Politico reported. The platforms are urging lawmakers to remove a provision from a bill that would require them to list only cryptocurrencies that are "not readily susceptible to market manipulation." The exchanges expressed concern that the clause would make it more difficult to list smaller tokens on their platforms. They argued it could restrict the listing of tokens with low trading volumes for which it is difficult to prove a lack of manipulation risk. The group stressed that its goal in legislative engagement is to expand the scope of regulation, not to reduce protections. The provision is part of a bill that was amended by the Senate Agriculture Committee after its passage in January.

Qatar's prime minister said there is a high possibility that the U.S. and Iran will reach an agreement, according to CBS News. The statement was made ahead of a meeting with U.S. Vice President JD Vance.

Bitcoin mining firm TeraWulf's revenue from high-performance computing (HPC) leasing reached $21 million in the first quarter, surpassing its Bitcoin mining revenue of $13 million for the first time, The Block reported. The company's total revenue for the quarter was $34 million, nearly level with the $34.4 million recorded in the same period last year. During an earnings call, TeraWulf CEO Paul Prager explained that these results mark the first time HPC leasing has made a meaningful contribution to the company's financial statements.

The U.S. Department of Justice announced it has uncovered at least nine cryptocurrency fraud rings targeting Americans, in cooperation with the FBI, Dubai Police, and China's Ministry of Public Security. At least 276 people have been arrested in connection with the operations, The Daily Hodl reported.

April set a record for the number of hacking incidents in the cryptocurrency industry, with approximately 30 cases reported during the month, according to The Block. The value of the losses also ranks among the highest on record, with the total exceeding $630 million. Major attacks included a $285 million incident involving Drift Protocol and a $292 million exploit of Kelp DAO. The Block noted that the impact of these hacks is not limited to the affected protocols. Such events can put downward pressure on token prices, lower trust in DeFi, and strain liquidity, which has already been struggling since a record sell-off on Oct. 10 of last year.

Prediction market platform Kalshi has signed a multi-year partnership with Madison Square Garden, the home arena of the NBA's New York Knicks, according to Walter Bloomberg. Under the agreement, Kalshi has been named the official prediction market partner of the venue.

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, stated that the Fed must always consider all policy options.

Neobank Revolut has attributed a price error that briefly showed BTC at $0.02 on its app to an issue with an unspecified third-party service provider. According to Decrypt, the company stated that the problem has since been resolved and that prices now reflect market conditions. Revolut added that it is currently reviewing the details behind the third-party provider's service interruption. It is not known whether any trades were executed at the incorrect price.

According to Lookonchain, BlackRock and Fidelity have deposited Ethereum worth approximately 110 billion won ($80.3 million) to Coinbase Prime over the past three hours. BlackRock transferred around 11,475 ETH three hours ago, while Fidelity moved 23,919 ETH within the past hour.

Whale Alert reported that 310,000,000 USDC has been transferred from Ethena to an unknown wallet. The transaction is valued at about $310 million.

Following a partnership between Iren (IREN), formerly Iris Energy, and Nvidia, U.S. investment bank Bernstein has set a price target of $100 for the company. According to The Block, this represents a 76% increase from its closing price of $56.85 on May 7. Bernstein called the deal a significant partnership for both companies in technology and capital, adding that the data center market presents an enormous opportunity with considerable room for growth as it is still in its early stages. The bank maintained its outperform rating for Iren.

An address believed to belong to Garrett Jin, the founder of BitForex and a Bitcoin OG, has deposited 78,077 ETH, worth approximately $177.92 million, to Binance, according to Onchain Lens.

The three major U.S. stock indices opened higher today. - S&P 500: +0.36% - Nasdaq: +0.57% - Dow Jones: +0.45%

Aptos (APT) announced on X it has partnered with Japanese QR code payment service provider Netstars to develop stablecoin and Web3 payment applications. Netstars plans to explore integrating Aptos's blockchain infrastructure into its existing payment system.

Robinhood has announced the listing of BLEND.

Kevin Hassett, Chairman of the White House National Economic Council (NEC), said he believes there will be a rate cut this year due to the war.

Nick Timiraos, a reporter for The Wall Street Journal often described as the Fed whisperer, has analyzed that the Federal Reserve's policy focus is shifting from the labor market to inflation. He explained that while the labor market has stabilized, inflation is once again facing upward pressure due to tariffs and the war in Iran. Timiraos also assessed that the April non-farm payroll report showed strong metrics across employment, unemployment, and wages, weakening the case for an interest rate cut. He added that the Fed is currently maintaining a policy freeze, with inflation data likely to be the key variable going forward.