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All six candidates supported by Fairshake, a crypto industry-backed Political Action Committee (PAC), have won their midterm primary elections. However, the victories are seen as more a result of President Donald Trump's strong endorsements and significant financial backing rather than the popularity of cryptocurrency, Decrypt reported. Fairshake invested over $20 million from the industry into these primaries and described the wins as a clear endorsement of pro-crypto politicians. Despite this, the influence of crypto-related policy was reportedly minimal during the campaigns. Fairshake did not run crypto-focused advertisements, instead concentrating on publicizing the candidates' endorsements from President Trump. The PAC has budgeted approximately $200 million for the 2026 midterm elections.

Layer 1 blockchain Sui (SUI) has announced the launch of a gasless stablecoin transfer feature, allowing users to send stablecoins without paying gas fees. The feature is a core function implemented at the protocol level, and institutions such as Fireblocks are reportedly already using it. Sui explained that the gasless transfer feature is not a temporary subsidy or promotion but is intended to enable transactions for businesses and AI agents.

SpaceX plans to file for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) under the ticker SPCX, Walter Bloomberg reported. According to The Block, the IPO filing will disclose that the company held 18,712 BTC at an average price of $35,000, valued at $1.45 billion, as of Dec. 31, 2025. SpaceX is known to have been accumulating cryptocurrency since 2021 and is believed to have adjusted its holdings based on market conditions. The Block added that at current prices, SpaceX's BTC holdings would rank it seventh among publicly traded companies, ahead of Coinbase (COIN). It also noted that due to accounting rules for listed companies, cryptocurrency price fluctuations are expected to increase the volatility of SpaceX's financial performance.

Nvidia (NVDA) announced in its earnings release today that it posted first-quarter revenue of $81.62 billion, surpassing the expected $79.19 billion.

The U.S. Treasury Department has sanctioned six Ethereum addresses linked to the Sinaloa Cartel for laundering funds from illegal fentanyl trafficking, Decrypt reported.

The three major U.S. stock indices closed higher today. - S&P 500: +1.08% - Nasdaq: +1.54% - Dow Jones: +1.31%

U.S. President Donald Trump told Israeli Prime Minister Netanyahu in a phone call that the United States and Iran are drafting a letter of intent that both countries could sign, Axios reported, citing anonymous sources. The letter reportedly outlines a plan to launch an additional 30 days of negotiations on key issues, including an end to hostilities, talks on Iran's nuclear program, and the opening of the Strait of Hormuz.

Bitcoin's failure to break its 200-day moving average at $82,400 and its subsequent drop to $76,000 are similar to the initial phase of the bear market in March 2022, according to an analysis by CryptoQuant. Julio Moreno, Head of Research at CryptoQuant, explained that BTC faced the same technical resistance this time after rallying approximately 37% from its low, just as it has in the past. He noted that the 200-day moving average has historically served as a boundary between a relief rally and a resumption of a downtrend, suggesting the failure to break this resistance indicates the bear market is structurally ongoing. Moreno added that futures market demand, which drove the rally in April and May, has slowed amid liquidations of long positions after the price surpassed $82,000. Spot demand is also decreasing rapidly, with spot ETFs turning to net outflows and the Coinbase Premium becoming negative. He stated that a positive Coinbase Premium is typical in a sustained bull market, making the current situation a negative price indicator. Moreno concluded that such periods have typically been followed by further price declines or sideways movement, with support expected at the $70,000 level—the average cost basis for short-term investors—if the correction continues.

The U.S. Nimitz aircraft carrier strike group has arrived in the Caribbean Sea amid rising tensions with Cuba, CNN reported, citing an announcement from U.S. Southern Command. The strike group consists of the aircraft carrier, its air wing, and at least one guided-missile destroyer. On the same day, the Trump administration announced it would indict former Cuban leader Raul Castro. Cuban authorities had previously expressed concern that the indictment could be a pretext for military intervention. The move follows the indictment of Former Venezuelan President Maduro, who was transferred to the U.S. in January of this year for trial following an arrest operation by the U.S. military.

Hester Peirce, a U.S. Securities and Exchange Commission (SEC) commissioner known as "Crypto Mom" for her advocacy within the industry, will step down from her post in November, BeInCrypto reported. Peirce has been appointed as an associate professor at Regent University School of Law. She joined the SEC in January 2018 and has been a critic of the enforcement actions taken by former SEC Chairman Gary Gensler, who was known for his critical stance on cryptocurrencies. The SEC is currently operating with three commissioners following the recent resignation of a Democratic member. The outlet added that the future direction of the regulatory environment could depend on how the White House fills her seat.

U.S. President Donald Trump stated that the United States must help the Cuban people and is in the process of liberating the country. He added that the situation in Cuba will not escalate.

Hyperliquid (HYPE) surpassed $50 due to a short squeeze driven by a wave of liquidations and a sharp shift in funding rates, according to an analysis by crypto platform Santiment. Santiment noted that HYPE recorded negative funding rates on May 18 and 19, suggesting the build-up of large short positions. A subsequent price increase appears to have triggered the squeeze. During the rally, a significant inflow of new capital pushed open interest (OI) up to $1.92 billion. The firm identified the inflow of institutional capital following an ETF launch as the catalyst for the rally. According to CoinMarketCap, HYPE is trading at $51.55, up 7.17% from yesterday.

The Chicago Mercantile Exchange (CME) is set to launch BVI, a futures contract tracking Bitcoin's implied volatility, on June 1, CryptoSlate reported. The product has received certification from the U.S. Commodity Futures Trading Commission (CFTC). Similar to the VIX, the U.S. stock market's fear index, BVI will allow investors to trade or hedge volatility itself without betting on the price direction of BTC. The new futures will be based on the "CME CF Bitcoin Volatility Index Settlement (BVXS)." The initial monthly contracts listed will be for June and July 2026, with each contract's value calculated by multiplying the index figure by $500.

Securitize, a company specializing in real-world asset (RWA) tokenization, posted record revenue of $19.5 million in the first quarter of this year, The Block reported. This performance is attributed to major institutional collaborations, such as gaining eligibility to issue ETF blockchain securities on the New York Stock Exchange's digital trading platform and integrating BlackRock's BUIDL fund with UniswapX. Securitize plans to list on Nasdaq in the second half of this year under the ticker SECZ through a SPAC merger with Cantor Equity Partners II.

A bipartisan group of U.S. lawmakers from the Republican and Democratic parties has jointly introduced a revised bill, the PARITY Act, aimed at modernizing cryptocurrency taxation, CoinDesk reported. The legislation would direct the Internal Revenue Service (IRS) to study the impact of introducing a tax exemption for small crypto transactions under $200. The crypto industry has long argued that removing the tax reporting obligation for minor transactions would make it easier to use digital assets for everyday payments, such as buying a cup of coffee. The bill's sponsors emphasized that updating the tax system is a foundational step for integrating digital assets into the financial system.

Digital payments application Flipcash has launched USDF, a native stablecoin on the Solana (SOL) network, using Coinbase's (COIN) custom stablecoin platform, The Block reported. USDF is a dollar-pegged stablecoin that will serve as a cash-like payment method for trading fixed-supply community currencies within the Flipcash app. The launch marks the first commercial use case for Coinbase's stablecoin services.

Minutes from the U.S. Federal Reserve's policy meeting three weeks ago revealed that officials decided to hold the benchmark interest rate at 3.5-3.75%, citing inflationary pressures from rising energy prices and uncertainty in the Middle East despite ongoing economic growth. While Chairman Jerome Powell and eight other members voted in favor of the hold, Stephen Miran argued for a rate cut. Additionally, Beth Hammack, Neel Kashkari, and Lorie Logan opposed the inclusion of an easing bias in the policy statement. A majority of Fed officials stated that they would need to consider raising interest rates if inflation continues to run above the 2% target. Many also argued for abandoning the previous rate-cut stance and signaling that the next policy move could be a hike.

U.S. Senator Ted Cruz, speaking at a Senate Commerce Committee hearing, criticized misconduct by athletes related to prediction markets, which were a major topic of discussion. He pointed out that such actions plant doubt in the minds of fans. Cruz stated that while the ideal is for athletes to compete based on skill, the opportunity to make money can tempt both gamblers and players. He explained that NBA players and coaches are currently facing allegations of manipulating game performance and providing inside information, including suspicions that they were paid to intentionally alter pitching motions.

Cryptocurrency custody firm Copper is reportedly considering a $500 million sale of the company, according to CoinDesk. Wall Street investment bank Cantor Fitzgerald has been selected to assist with the process.

Blockchain security firm PeckShield reported via X that a massive 1,000 trillion MAPO tokens have been minted. The firm called on Map Protocol to confirm the event.

South Korean crypto exchange Bithumb has announced the temporary suspension of deposits and withdrawals for Map Protocol (MAPO) due to suspected security issues.

The Bitcoin market has become heavily dependent on MicroStrategy and its founder, Michael Saylor, according to an analysis by Wu Blockchain. The firm noted that MicroStrategy has purchased more than 171,000 BTC this year, a figure that far exceeds the new supply from mining companies, with the acquisitions funded through the issuance of high-yield preferred stock. Analysts believe MicroStrategy now accounts for a significant portion of current Bitcoin trading and purchasing activity. Meanwhile, Wu Blockchain added that ETF inflows, demand from hedge fund arbitrage, and trading by retail investors have all slowed, while mining companies are selling their Bitcoin holdings to finance investments in artificial intelligence (AI) infrastructure.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Approximately 10% of the total Bitcoin supply is structurally insecure due to advancements in quantum computing technology, Glassnode pointed out in a new report, according to Cointelegraph. This is because these Bitcoins expose their public keys by design, regardless of how their addresses are managed. The report notes that this vulnerability affects around 1.92 million BTC. It explained that methods such as Pay-to-Public-Key (P2PK) outputs from the Satoshi Nakamoto era, legacy multisig structures like Pay-to-Multisig (P2MS), and Pay-to-Taproot (P2TR) outputs all expose public keys or equivalent information by design. Glassnode added that these findings highlight the need to implement secure pathways to counter quantum computing attacks, citing the proposed introduction of the Pay-to-Merkle-Root (P2MR) output type from BIP-360. The proposal aims to introduce a wallet format highly resistant to such attacks and enable voluntary migration.

U.S. President Donald Trump said negotiations between the United States and Iran have entered their final stage.