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Coinbase (COIN) reported first-quarter total revenue of $1.41 billion, falling short of the market consensus of $1.52 billion. Trading revenue came in at $758 million, below the expected $805 million. Subscription and services revenue was $583 million, also missing the forecast of $619 million despite efforts to reduce reliance on transaction fees. Media outlets attributed the weaker-than-expected results to declining cryptocurrency prices, which negatively impacted trading activity and investor sentiment. COIN is currently trading at $184.15 in after-hours trading, down 4.57%.

Institutional investors are increasing their allocation to Bitcoin as overall crypto investment sentiment improves, Cointelegraph reported, citing a report from crypto asset manager CoinShares. According to a CoinShares survey of 26 institutional investors conducted in April, approximately 32% of respondents were invested in Bitcoin, while 25% held Ethereum. The report noted that Bitcoin still holds the most promising growth prospects, adding that investment sentiment for Ethereum and Solana has also seen a slight improvement from the previous quarter. The firm stated that institutions are increasing their crypto allocations amid improving market sentiment, the growing adoption of ETFs, and a more favorable regulatory environment. The primary barriers to broader adoption were identified as internal constraints and regulatory uncertainty.

The three major U.S. stock indices closed lower today. - S&P 500: -0.38% - Nasdaq: -0.13% - Dow Jones: -0.63%

Coinbase has announced it will halt trading for 12 perpetual futures contracts at 1:00 p.m. UTC on May 21. The affected tokens are KAITO, SENT, SAHARA, CAKE, TOSHI, AKT, VET, ANIME, THETA, ZK, KERNEL, and BARD.

Binance founder Changpeng Zhao has expressed his desire to provide U.S. investors with access to the exchange's global-level cryptocurrency liquidity. Speaking at Miami Consensus 2026, Zhao stated that the best liquidity in the crypto market is found outside the United States, noting that crypto is one of the few markets where American investors have difficulty accessing optimal prices. He added that he believes Binance has the best liquidity in the ecosystem. Zhao emphasized that he wants to either resume Binance.US operations or find another way to offer world-class liquidity and pricing to U.S. investors.

The upcoming U.S. midterm elections could be a significant turning point for the cryptocurrency industry, predicted Jesse Spiro, Head of Government Relations at Tether. Speaking at a panel discussion at Consensus Miami 2026, Spiro noted that while there has been significant progress and positive change over the past year, citing the passage of the Stablecoin Regulation Act (GENIUS Act) and CLARITY, the situation could always be reversed. He warned that the midterm elections scheduled for later this year could have a seismic impact on the direction of the crypto industry. At the same time, Spiro added, pro-crypto groups are preparing to inject substantial political funding.

Bitmine (BMNR) Chairman and Fundstrat co-founder Tom Lee said the company may slow its pace of Ethereum purchases as it approaches its corporate supply target of 5%, CoinDesk reported. He noted that at its current rate of buying roughly 100,000 ETH per week, the company expects to reach its 5% goal within six weeks and is now considering a slowdown. Lee added that after reaching the target, Bitmine will focus on staking and share buybacks. The company had initially projected that acquiring 5% of the Ethereum supply would take five years, but it has already secured 4.29% in less than one year. Bitmine currently holds over 5.1 million ETH.

Donald Trump Jr. has refuted recent online rumors about the bankruptcy of World Liberty Financial (WLFI). According to CoinDesk, speaking at the Consensus event in Miami, he said that not everything reported by the media is true and that stories are often fabricated or manipulated. He stressed that critics and some media outlets are intentionally spreading misleading narratives about WLFI.

The U.S. Senate Banking Committee is expected to announce a markup schedule for the CLARITY Act as early as tomorrow, according to Eleanor Terrett, host of Crypto in America. The committee has reportedly distributed a draft of the bill to some industry stakeholders ahead of the vote. While the bill's details are still under negotiation, further amendments may be made to reflect Democratic priorities. Terrett added that while the overall mood following a review of the bill and discussions with industry leaders has been positive, concerns remain that some provisions could alter key points previously thought to be settled.

Ethereum's (ETH) share of the total value locked (TVL) in DeFi has fallen below 54%, marking its lowest level since May 2025, according to Unfolded.

The Bitcoin bear market is likely over, according to Tom Lee, Chairman of Bitmine (BMNR) and co-founder of Fundstrat. Speaking at the Consensus 2026 Miami event, he told CoinDesk that Bitcoin is breaking out of the downtrend that saw it fall from $126,000 last October to $60,000 in February. Lee noted that after positive monthly closes in March and April, the cryptocurrency has gained another 5% so far in May. He argued that Bitcoin has never recorded three consecutive monthly gains during a bear market, emphasizing that if BTC closes above $76,000 this month, the bear market will be definitively over.

Nathan McCauley, CEO of crypto custody and banking firm Anchorage Digital, has revealed that numerous financial institutions and major tech companies are preparing to issue their own stablecoins, CoinDesk reported. Speaking at the Consensus conference in Miami, McCauley stated that Anchorage has secured most of the major stablecoin issuance projects following the passage of the stablecoin regulation bill (GENIUS Act). He added that between 12 and 20 institutions and large tech firms are currently working with the company to launch their own stablecoins. McCauley also noted that banks are showing interest in issuing stablecoins to achieve specific financial objectives, while existing stablecoin operators are looking to expand their distribution channels.

The U.S. Treasury Department has demanded that Binance enhance its compliance measures following media reports that Iran is using the exchange to evade American sanctions, The Information reported. Previously, The New York Times and The Wall Street Journal raised allegations that Iran had bypassed U.S. sanctions and financed terrorist groups through Binance. The demand is seen as a follow-up to the major settlement Binance reached with U.S. authorities in 2023. At that time, the exchange agreed to a $4.3 billion fine for anti-money laundering and sanctions violations and pledged to implement an independent compliance monitoring system. The Treasury Department appears to be using the latest allegations to verify Binance's adherence to its obligations under the settlement, demanding a block on Iran-related transactions and stronger internal controls.

CryptoQuant reported that unrealized profits for BTC investors have reached their highest level since June 2025. The firm's analysis indicates that, historically, the likelihood of a price correction has increased in such scenarios as investors move to take profits. This pattern has repeatedly shown that as the margin of unrealized gains expands, so does the sell-side pressure from profit-taking.

The CLARITY Act has the support of 52% of voters, with only 11% opposed, reported Eleanor Terrett, host of Crypto in America. According to a recent poll, the bill is backed by Republican, Democratic, and independent voters alike.

An analysis suggests a deepening concentration of short positions in the BTC futures market, CoinDesk reported. Speaking at the Consensus event in Miami, James Atchison, founder and Chief Investment Officer (CIO) of Caerus Global, explained that BTC funding rates are moving at an annualized rate of -4%. He described this as a rare structure where investors with long positions receive funding fees, reflecting a discrepancy within the derivatives market. Atchison pointed out that even as the price of BTC surpassed $75,000 in April, the funding rate fell to its lowest level since 2023. He added that in the past, similar phenomena have been followed by a medium- to long-term upward trend for BTC.

Strategy is accumulating Bitcoin at a faster pace this year and could purchase around $30 billion worth of the asset if the current trend holds, according to JPMorgan. In a report cited by The Block, the investment bank noted that Strategy has already added approximately 145,834 BTC this year. At this rate, its annualized purchase volume would reach about $30 billion, a significant increase from the roughly $22 billion acquired in both 2024 and 2025. The report suggests Strategy is pursuing a more aggressive buying strategy tailored to market conditions and financing opportunities.

Decentralized cryptocurrency exchange (DEX) Aster (ASTER) has launched its Real-World Asset (RWA) Sprint Season 1, the project announced on X. During the event, taker fees for all RWA perpetual futures trading pairs will be reduced from 4 bp to 0.9 bp, with no maker fees. These changes took effect at 1:00 p.m. UTC on May 7. The first season will run until June 7 and will apply to all future RWA trading pairs listed on the platform. The sprint supports over 30 assets, including commodities like XAU, XAG, and CL; ETFs such as QQQ, EWY, DRAM, and SPY; and stocks including SNDK, MU, INTC, and TSM. Aster added that users can access these various RWA trading pairs directly through their wallets.

Iran has implemented new regulations for passage through the Strait of Hormuz, CNN reported. Under the new rules, vessels must complete a pre-application process to ensure safe passage.

The Canton ETF (TCAN) from crypto asset manager 21Shares has been listed on Nasdaq. 21Shares also acts as a validator and global synchronizer participant within the Canton ecosystem.

According to CoinNess market monitoring, BTC has fallen below $80,000. BTC is trading at $79,959.71 on the Binance USDT market.

Solv Protocol is moving over $700 million in tokenized BTC assets to Chainlink's (LINK) Cross-Chain Interoperability Protocol (CCIP) and will phase out support for its LayerZero (ZRO) bridge. According to CoinDesk, Solv has adopted Chainlink CCIP as its new standard bridge infrastructure, a decision influenced by recent cross-chain security incidents and an internal security review. As a result, LayerZero bridge support will be discontinued on the Corn, Berachain, Rootstock, and TAC networks.

Aave has announced plans to completely overhaul its collateral assessment and listing standards following the recent KelpDAO hack, CoinDesk reported. The protocol will now evaluate all future collateral assets not only on price volatility but also on factors such as cybersecurity, interoperability, and technical architecture. Additionally, Aave will revamp and publish a minimum standards playbook for issuers seeking to list on the protocol. Linda Jeng, Chief Legal and Policy Officer at Aave Labs, stated that while the protocol's existing risk management framework is robust, it has been overly focused on financial risk and volatility. She added that unlike traditional financial crises where governments had to bail out banks, the DeFi ecosystem came together to save itself, and that navigating such a crisis naturally leads to higher standards.

On-chain analyst ZachXBT has accused LAB token founder Boba Sadikov of market manipulation. ZachXBT stated that Sadikov used centralized exchanges to manipulate the market while posting philosophical content on X, leading to losses for retail investors. He has offered a $10,000 bounty for anyone who can provide evidence of the alleged manipulation.

Mantle (MNT) has announced it is phasing out the minting of its liquid restaking token, cmETH. Accordingly, new issuance of cmETH has been suspended as of May 7, while unstaking and bridging functions will continue to be supported for existing users. The operations of other services on the mETH protocol are not affected.