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Cryptocurrency security and custody firm Turnkey has raised $12.5 million in a strategic funding round, CoinDesk reported. This investment brings Turnkey's total funding to over $65 million. Investors in the round included Archetype, Circle Ventures, Bain Capital Crypto, Lightspeed Faction, Galaxy Ventures, Sequoia Capital, and Variant. The funds will be used to develop its in-house infrastructure.

Blockchain-based credit infrastructure firm Grove has launched Basin, a liquidity solution that allows investors in tokenized real-world asset (RWA) funds to instantly redeem their holdings for stablecoins, CoinDesk reported. At launch, Basin will provide up to $1 billion in daily liquidity, aiming to reduce the multi-day settlement process for tokenized fund redemptions to near real-time.

Digital asset investment platform Fasset has raised $51 million in a Series B funding round to expand its stablecoin-based banking platform. According to CoinDesk, the investment round included participation from Japan's SBI Group, Investcorp, and Turkish asset management firm Arz Portföy. The company's valuation was not disclosed.

According to CoinNess market monitoring, BTC has risen above $80,000. BTC is trading at $80,025.13 on the Binance USDT market.

Bitcoin's recent surge past $80,000 was driven by leveraged futures trading rather than U.S. spot buying pressure, according to a CryptoQuant analysis reported by CoinDesk. CryptoQuant noted that the Coinbase Premium, an indicator of U.S. investor demand, has remained consistently negative since the end of April. This suggests that BTC is trading at higher prices on overseas exchanges than on Coinbase, signaling relatively weak spot buying from U.S. institutional investors. In contrast, significant demand has emerged from the perpetual futures market. The firm warned that a futures-driven rally may be less sustainable than one backed by spot purchases. If the current upward trend slows, the key support level is likely to be around $70,000, which corresponds to the on-chain realized price for short-term investors.

Bitfufu, a cloud mining platform affiliated with Bitmain, announced it mined a total of 145 BTC in April. The company's Bitcoin holdings stood at 1,812 BTC as of the end of April, an 18 BTC increase from the end of March.

U.S. initial jobless claims for last week totaled 211,000, surpassing the forecast of 205,000. The weekly claims figure is a key indicator of the labor market's health, which the Federal Reserve considers when making interest rate decisions. A figure above expectations can signal that companies are increasing layoffs, suggesting a cooling labor market. This could provide the Fed with a reason to lower interest rates. Conversely, a number below forecasts indicates a robust labor market, which could lead the Fed to hold or raise rates to focus on curbing inflation.

Bitcoin strategy firm and asset manager Strive (Nasdaq: ASST) has announced plans to pay cash dividends on its preferred stock, SATA, every business day. According to CoinDesk, this marks a first in U.S. securities history and is scheduled to take effect on June 16. While SATA's stated annual dividend yield is 13%, the effective yield will rise to approximately 13.88% due to the switch from monthly to daily payments. Alongside the news, Strive CEO Matt Cole announced that the company has repaid all of its outstanding debt. Strive currently holds 15,009 BTC, ranking it ninth among publicly traded companies worldwide by Bitcoin holdings.

Coinbase announced via X that it has joined as the official USDC treasury operator for Hyperliquid. The company added that it has also significantly increased its holdings of staked HYPE. Further details on the matter were not disclosed.

The T3 Financial Crime Group, a joint initiative by Tether (USDT), Tron (TRX), and TRM Labs, has frozen more than $450 million in illicit cryptocurrency assets worldwide since its launch in 2024, The Block reported. T3 is currently collaborating with law enforcement agencies in 23 countries, including the U.S., Spain, Germany, the Netherlands, and Bulgaria. The group supports investigations into exchange hacks, money laundering linked to North Korea, terror financing, kidnapping, home invasions, and other violent crimes.

Japanese listed company Fisco has announced its withdrawal from the cryptocurrency and blockchain business. The company will halt all promotions for its native FiscoCoin (FSCC) and has canceled a planned token burn. Fisco stated it will no longer pursue any activities to increase the value or expand the utility of FSCC. The company first entered the crypto market in 2016, operating a trading platform.

An address presumed to belong to BlackRock deposited 3,581 BTC ($284.62 million) and 9,876 ETH ($22.29 million) to Coinbase a short time ago, Onchain Lens reported. The total value of the deposit is approximately $306.91 million.

Decentralized exchange (DEX) aggregator KyberSwap has announced the launch of "Smart Settlement," a new feature that automatically selects the optimal liquidity pool at the time of trade execution. According to KyberSwap, this allows users to complete swaps at a better price even if market conditions change before or after execution, while also reducing the likelihood of slippage and failed transactions.

Digital asset exchange Bullish recorded a first-quarter net loss of $604.9 million, CoinDesk reported. The loss was primarily due to a decline in trading revenue driven by reduced trading volume amid weaker digital asset prices. Following the earnings announcement, Bullish's stock price fell approximately 7.9% in pre-market trading.

HashKey, a Hong Kong-listed cryptocurrency exchange, announced today the listing of Hyperliquid (HYPE). The exchange added that it will also offer over-the-counter (OTC) trading services for the token to professional investors.

On-chain analyst Easy On Chain stated that Bitcoin's recent drop below $80,000 was not a coincidence but the result of three concurrent factors, CryptoPotato reported. The analyst explained that the first factor was an increase in exchange net inflows. On May 11, the net outflow from exchanges was 19,995 BTC, significantly lower than the 28,000 to 35,000 BTC recorded earlier in the month, which increased downward pressure. The second factor was an expansion of short positions in the derivatives market. From May 8 to 10, open interest (OI) rose to 1.04 times the average, and funding rates turned negative, signaling that traders were betting on a decline. The third factor was the liquidation of leveraged long positions, with approximately $109.7 million in longs forcibly closed from May 11 to 13. On May 12 alone, long liquidations were 11.8 times greater than short liquidations. Easy On Chain added that the decline was further accelerated by whale selling and the release of U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) data.

Fenwick & West, a law firm that represented FTX, is facing a $525 million lawsuit for its alleged role in concealing the exchange's fraud, Cointelegraph reported. A group of 20 FTX victims claims the firm not only represented the company but also helped build the foundation that allowed the fraudulent activities to continue. The lawsuit specifically cites testimony from former FTX Director of Engineering Nishad Singh, who allegedly informed Fenwick lawyers about the misuse of customer funds. The plaintiffs assert that instead of reporting the issue, the firm advised on methods to conceal it. The suit further alleges deep involvement in the FTX Group's illegal activities, including the establishment of shell companies to hide the flow of funds.

JPMorgan Chase significantly expanded its holdings of spot Bitcoin ETFs in the first quarter of this year, Cointelegraph reported, citing a 13F filing. According to the disclosure, the bank's holdings of BlackRock's IBIT grew by 174% quarter-over-quarter, from approximately 3 million shares in the fourth quarter of 2025 to 8.3 million in the first quarter of this year. During the same period, its holdings in Fidelity's FBTC and Bitwise's BITB also saw substantial increases of around 900% and 450%, respectively. This expansion of crypto-related assets occurred even as Bitcoin's price declined by more than 22% during the first quarter.

Binance has announced it will list AIGENSYN for spot trading at 1:00 p.m. UTC today. The listing will have the Seed Tag applied, which Binance uses for tokens that may exhibit higher volatility and risk compared to other listed tokens.

Binance has announced the addition of several perpetual futures contracts based on U.S. stocks and ETFs to expand its offerings. On May 15, the exchange will list perpetuals for the Direxion Daily Semiconductor 3x ETF (SOXL) and Marvell Technology (MRVL). The SOXLUSDT contract will support up to 20x leverage, while the MRVLUSDT contract will offer up to 10x. On May 18, Binance will sequentially add perpetuals for CoreWeave, Walmart, JPMorgan, Visa, and Berkshire Hathaway Class B. All of these contracts will provide up to 10x leverage.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section shows the Volume Heatmap, and the bottom section displays the Cumulative Volume Delta (CVD). - The Volume Heatmap tracks the volume of trades at specific price levels. The background color brightens when the price remains in a certain range for an extended period or experiences significant movement. These brighter areas may act as potential support or resistance levels. - The CVD indicator represents buy and sell orders categorized by the size of the capital involved. As buy orders increase, the corresponding colored line rises. For example, the yellow line represents orders between $100 and $1,000, while the brown line indicates large orders ranging from $1 million to $10 million.

South Korean crypto exchange Bithumb has announced that it will temporarily suspend deposits and withdrawals for Cosmos (ATOM) to support an upcoming network upgrade. The suspension will begin at 6:00 a.m. UTC on May 20.

Global ratings agency Moody's has assigned its highest credit rating, AAA-mf, to the tokenized money market funds (MMFs) of BlackRock and Fidelity, CoinDesk reported. The AAA-mf rating indicates that the funds have very strong liquidity and principal preservation capabilities, representing the lowest level of credit risk. Money market funds are low-risk products that invest in short-term debt instruments with maturities of one year or less, such as U.S. Treasury bonds, commercial paper (CP), and certificates of deposit (CD).

According to Coinglass, an estimated $1 billion in long positions on major cryptocurrency exchanges will be liquidated if the price of Bitcoin falls below $78,000. Conversely, if Bitcoin's price recovers to $80,458, $640 million in short positions will be liquidated.

Binance has announced a $13 million airdrop of WLFI tokens for users holding USD1 on its platform. The campaign is scheduled to run from May 15 to June 12.