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BitMEX co-founder Arthur Hayes stated at Conference 2026 that while 99% of altcoins could see their value drop to zero, this does not signal the end of the industry. According to BlockBeats, he compared the situation to the historical turnover of S&P 500 companies, noting that about 98% of firms in the index since 1929 have been delisted. Hayes described such market purges as a normal process, adding that the altcoin ecosystem will continue to exist and evolve.

U.S. President Donald Trump stated that Iran must never be allowed to possess nuclear weapons, adding that the U.S. has hit the country very hard.

Nasdaq-listed Bitcoin mining company Cipher Digital (CIFR) recorded a loss of $114 million in the first quarter, The Block reported. This figure is more than double the $39 million loss from the same period last year. The company's BTC mining revenue also decreased to $35 million from $49 million year-over-year, while the value of its BTC holdings fell from $125 million to $76 million.

Jito Labs (JTO) announced the launch of JTX, a new self-custody cryptocurrency trading platform, CoinDesk reported. The platform allows users to trade tokens on the Solana blockchain while maintaining direct control over their assets.

Global cryptocurrency payments firm MoonPay has acquired Solana-based trading protocol DFlow, Fortune reported. MoonPay paid $100 million in stock for the acquisition.

Drift (DRIFT), which suffered a hack of approximately $295 million last month, has unveiled its recovery plan. In a post on X, the project announced it will issue recovery tokens to affected wallets proportional to their losses, airdropping one token for every dollar lost. The current compensation pool stands at around $3.8 million, with plans to expand it through exchange revenue, investments, and matching support from Tether. Redemptions will be enabled once the pool surpasses $5 million, though early redemption will forfeit any further claims. The exchange is scheduled to relaunch in the second quarter of this year.

Cross-chain infrastructure Wormhole (W) now supports bridging Bittensor (TAO) to Solana (SOL), enabling its use in the DeFi ecosystem. According to The Block, Wormhole Labs stated that TAO is now available for trading on Solana-based DeFi platforms Jupiter and Meteora, as well as through Solana-based wallets like Phantom and Solflare.

On-chain analyst ZachXBT has reported the discovery of a Ponzi scheme involving the DSJ exchange and BG Wealth Share, with estimated damages exceeding $150 million. According to the analyst, approximately $93 million was laundered between April 27 and May 3. A coordinated effort between Tether, Binance, OKX, and U.S. regulators has resulted in the freezing of around $41.5 million in funds, with Tether alone freezing $38.4 million. The scheme is said to have been luring investors with promises of high returns since last year.

Coinbase has invested millions of dollars in Centrifuge, selecting the firm as a key tokenization partner, The Block reported. The partnership will see Centrifuge serve as a core platform for converting traditional assets into tradable on-chain assets on Base, the blockchain developed by Coinbase. Specific details of the investment were not disclosed.

Web3 data provider Space and Time (SXT) has launched Virtual Vaults for institutional on-chain lending. The feature allows institutional lenders and borrowers to configure a virtual vault under a specific contract, enabling real-time verification and tracking of a borrower's collateral on the exchanges and DeFi platforms where it is held.

World Liberty Financial (WLFI), a DeFi project led by the Trump family, announced on X the launch of WorldRouter in collaboration with AI agent operating system WorldClaw. According to the announcement, WorldRouter provides access to over 300 AI models and helps execute tasks that support USD1 payments on the BNB Chain and Solana networks. The service costs 30% less than the rates charged by individual model providers. The project added that locking up WLFI tokens may grant users access to additional AI-related features and services in the future.

Iren (IREN), formerly known as Iris Energy, announced it is acquiring cloud infrastructure service provider Mirantis. The deal is valued at approximately $625 million and will be paid for with Iren common stock. Through this acquisition, Iren plans to strengthen its capabilities in the AI cloud sector. Following the completion of the deal, Mirantis will operate as an independent subsidiary, maintaining its existing services while supporting the expansion of Iren's AI cloud business.

Steven Kalifowitz, Chief Marketing Officer (CMO) of Crypto.com (CRO), is resigning after six years, CoinDesk reported. He will step down from the role on June 30 to become an advisor to the CEO. During his tenure, Kalifowitz played a key role in establishing Crypto.com as a global brand, investing over $1 billion in high-profile celebrity marketing and securing stadium naming rights to bring cryptocurrency services into the mainstream.

Crypto analytics firm Kaiko has reported uncovering multiple suspicious instances of apparent front-running activity just before new cryptocurrency listings on Robinhood. Kaiko stated that an analysis of perpetual futures open interest, funding rates, and on-chain addresses revealed abnormal trading patterns from specific wallets prior to Robinhood's official announcements. For example, an anonymous address starting with 0xa1E built a large long position on Hyperliquid one hour before Robinhood announced the listing of Litentry (LIT) on Jan. 15. The position was then closed for a profit immediately following the announcement. The same address also profited from a short position on a Robinhood-linked futures product just before the company's first-quarter earnings release on April 28. Similar suspicious trading patterns were also observed in connection with Zcash (ZEC), Synthetix (SNX), and Near Protocol (NEAR). Kaiko explained that it is unclear whether these incidents are due to insider trading or preemptive actions by traders. However, the firm suggested the activity is more likely the result of information asymmetry or a sophisticated front-running algorithm than simple coincidence.

The three major U.S. stock indices opened higher today. - S&P 500: +0.56% - Nasdaq: +0.70% - Dow Jones: +0.52%

Web3 investment firm Animoca Brands has announced a $10 million investment program to support projects built on its AI agent platform, Minds. The platform is designed to allow anyone to deploy and manage AI agents without operating servers or managing hardware. Animoca Brands added that it plans to fund projects building innovative services within the Minds ecosystem.

U.S. asset manager State Street has launched an institutional tokenized cash management fund with Galaxy (GLXY), CoinDesk reported. Unlike traditional money market funds (MMFs), which can only be traded during market hours, this fund operates 24/7 using blockchain infrastructure. The fund will initially be issued on Solana (SOL) and is scheduled to expand to Ethereum (ETH) and Stellar (XLM) in the future.

Jito (JTO), a Solana-based liquid staking token, plans to launch a trading app called JTX for general users in July, Fortune reported. The company stated that it currently holds over $100 million in cash and decided to launch the app to enable direct on-chain trading, setting it apart from competitors that rely on existing infrastructure. JTX will initially support spot trading for Solana-based cryptocurrencies, with future plans to add perpetual futures trading and integrate prediction markets.

Tokenized securities platform Securitize announced on its official X account that it has partnered with Solana-based decentralized swap aggregator Jupiter (JUP) and crypto market maker Jump Trading to launch a stock token trading service.

K33 Research has analyzed that the funding rate in the derivatives market remains negative even as Bitcoin has rebounded past $81,000. According to Decrypt, the firm noted that the 30-day average funding rate for BTC perpetual futures contracts has now been negative for 66 consecutive days. While a negative funding rate is typically a strong buy signal indicating that bearish bets are dominant, K33 Research attributes the current phenomenon to structural hedging by institutional investors rather than market fear. The firm explained that short positions from traders employing delta-neutral strategies are maintaining the negative funding rates. Decrypt added that if BTC breaks through $82,000, a short squeeze could liquidate accumulated short positions and push the price as high as $100,000. However, it also noted the possibility of a correction down to $75,000 if spot demand slows.

The Uniswap DAO is discussing a governance proposal to recall 12.5 million UNI, worth $42 million, that was previously lent to its delegates, DL News reported. The tokens were loaned to the Uniswap Foundation and key delegates in 2022 and 2023 to stimulate governance activity. According to the proposal's author, the loaned tokens have served their purpose, as the governance environment is now sufficiently active. DL News added that addressing the practice of delegates voting without their own capital at stake is crucial for ensuring governance health, as it can create a misalignment between economic exposure and voting power.

U.S. Secretary of Defense Pete Hegseth said that the truce with Iran is not yet over. He stated that U.S. President Donald Trump has directed the military to resume free commercial navigation in the Strait of Hormuz, warning that Iran will face consequences if it attacks any vessels. Two U.S. merchant ships have already passed through the strait accompanied by a U.S. destroyer, indicating that passage is proceeding smoothly, Hegseth noted. He added that he expects the international community to intervene at the appropriate time, at which point the U.S. will transfer related responsibilities. "Iran's attacks to date have not met the criteria for resuming large-scale operations," Hegseth said. "However, we are prepared to resume operations at any time."

U.S. crypto exchange Kraken has partnered with global payments network MoneyGram to launch a service allowing users to withdraw cryptocurrency as cash in over 100 countries, Fortune Crypto exclusively reported. Kraken Co-CEO Arjun Sethi stated that providing fiat exchange access is crucial for people in countries with volatile currencies who use the platform like a bank. The partnership will enable Kraken customers to visit around 500,000 MoneyGram offline locations worldwide to exchange their crypto for local fiat currency.

a16z Crypto has closed its fifth fund at $2.2 billion, The Block reported. The new fund comes about four years after the firm raised $4.5 billion for its fourth fund in 2022. According to a16z Crypto, the market is transitioning from a speculative phase to one of practical adoption, and it is focusing on growth in the stablecoin, DeFi, and prediction market sectors. The firm explained that the fund will be invested 100% in cryptocurrency, not in related fields such as AI or robotics. It also added that on the regulatory front, clear legislation like the GENIUS Act for stablecoins will help attract institutional investors.

Nasdaq-listed company Sequence Communications (SQNS) has sold 1,025 BTC, reducing its holdings to 1,114 BTC, BitcoinTreasuries reported on X. The sale has dropped the company's ranking among corporate BTC holders to 40th. This follows a previous sale last November, when Sequence Communications sold 970 BTC to repay debt.