On:

President Donald Trump has signed two executive orders aimed at limiting the access of non-citizens to the U.S. financial system and putting checks on money laundering.

The executive order, named “Restoring Integrity to America’s Financial System,” signed on Tuesday, requires banks to take into account a customer’s immigration status and employment authorization while evaluating potential financial risk.

The White House has pointed to Chinese money-laundering networks and Mexican cartels as the reasoning behind the overhaul of the know-your-customer rules.

The directive also tasks the Treasury Secretary and federal regulators with guiding banks to identify customers whose activity may indicate risks like money laundering, terrorism financing, and labor trafficking.

The order instructs regulators to propose rule changes within 90 days. At present, banks are not obligated to collect citizenship status specifically and do not regularly share such information with the government. There is no restriction preventing banks from opening accounts for noncitizens.

data-variant=”card”
data-news-mode=”manual”

…

This post was originally published here

On:

Last week, the Senate Banking Committee approved the Clarity Act, setting the table for a full Senate vote at some point in the future. No date has been set. After the GENIUS Act became law last July 2025, fintech players have been waiting for clarity on Clarity.

“The Clarity Act clearing Senate Banking on a bipartisan vote is the clearest signal yet that U.S. policymakers are converging on a workable framework for onchain markets,” said Nate Holiday, co-founder at Space and Time, a decentralized Web3 data warehouse based in California. “The next phase is about turning that framework into infrastructure that institutions and protocol developers can easily adopt. We’re glad to see the bill moving and focused on the work ahead.”

The landmark U.S. cryptocurrency legislation establishes a comprehensive regulatory framework to define jurisdiction over digital assets between the Securities and Exchange Commission and the Commodities Futures Trading Commission 

The bill still needs to clear the full Senate, reconcile three versions – Senate Banking, Senate Agriculture, and the House of Representatives version, before heading to the White House. Holiday calls it a “thornier path” than what the GENIUS Act had to go through. 

Polymarket traders assign a 65% probability to Clarity being signed into law at some point this year. 

Politically, pros and cons are split three ways. Sponsors of the bill described it as overdue “rules of the road.” 

“This legislation brings digital assets into the sunlight with clear rules, stronger safeguards, and better tools to stop bad actors,” said Committee Chairman Tim Scott (R-SC), adding that the bill, if passed, helps assure fintech advances in the U.S.

Senator Ruben Gallego (D-AZ), Ranking Member of the Senate Banking Committee’s Digital Assets subcommittee the and Angela Alsobrooks (D-MD) cast their yes votes as conditional and explicitly tied further support to ethics and law-enforcement changes.

For Wall Street, Fidelity has been the most overt cheerleader and has advocated for the legislation. The Clarity Act would give Fidelity cleaner guidelines to engage in digital asset custody, trading, and ETF allocation.  

The crypto crowd is supportive. 

Legal ambiguity in the U.S. has held back DeFi builders for years, said Zachary Pelkey, vice president of engineering at CoinFello. “The Clarity Act draws a line and says that DeFi developers building open-source software, self-custody tooling, or node infrastructure shouldn’t be treated like money …

Full story available on Benzinga.com

This post was originally published here

On:

Editor’s note: the headline has been corrected to remove an inaccurate link between Cathie Wood and 21Shares.

21Shares’ new 21shares Hyperliquid ETF (NASDAQ:THYP) pulled more than $5 million in inflows within days of launch and generated $8 million in trading volume Thursday alone.

Strong Early Demand Signals Appetite For Always-On Trading

Eli Ndinga, global head of research at 21Shares, explained that Hyperliquid’s appeal comes from letting traders access crypto, oil, silver, and gold markets around the clock. 

The firm previously launched a Hyperliquid product in Europe before bringing the strategy to U.S. investors. The ETF follows Hyperliquid Strategies Inc (NASDAQ:PURR) as a way of getting exposure to HYPE.

Trading activity during recent geopolitical tensions involving Iran demonstrated the platform’s value. 

Investors used Hyperliquid after traditional markets closed, with silver trading on the platform representing roughly 2% of CME silver volume at one point.

The platform …

Full story available on Benzinga.com

This post was originally published here

On:

“The Big Short” fame investor Michael Burry warned on Tuesday about the dystopian implications of tokenizing traditional stocks on blockchain.

A Dark Digital Future Ahead?

Burry responded on X to a report of the SEC preparing to launch a framework for trading cryptocurrency versions of popular Wall Street equities.

Burry, known for his contrarian views and accurately predicting the 2008 housing market crash, expressed deep pessimism over the development, predicting a “Snow Crash”-style future.

Snow Crash is a 1992 science fiction novel by Neal Stephenson that depicts a future dominated by hyper-capitalism and corporate enclaves, and where people spend much of their lives in a virtual reality world called “Metaverse.”

Burry warned that embedding “digital value” into everything will erode personal relationships and devalue humanity.

“This may be the point in time that needs to be stopped from going forward by some future being,” he added.

Full story available on Benzinga.com

This post was originally published here

On:

Popular NFT brand Pudgy Penguins said on Tuesday that it’s extending its collaboration with English soccer club Manchester City, following the launch of a limited-edition collectible and hoodie earlier this year.

PENGU In Soccer Mode

In an X post, Pudgy Penguins said that they are building on the “success” of the first drop and will share more details soon.

“Together, we’ll be creating exciting experiences at the intersection of physical and digital and bringing Pengu and Pudgy Penguins to City fans worldwide,” Pudgy Penguins stated.

An attached video showed Pudgy Penguins’ mascot PENGU wearing a Man City jersey and posing with a soccer ball.”

Full story available on Benzinga.com

This post was originally published here

On:

President Donald Trump signed an Executive Order on Tuesday directing regulators to take measures to promote fintech innovation, including an assessment of extending access to Federal Reserve payment rails.

Regulators Instructed To Do Away With ‘Outdated’ Laws

The Executive Order specifically instructed the Fed to evaluate the potential for uninsured depositories and non-bank fintechs to access Fed payment accounts and services.

The Order also asked a report on the Fed’s “legal authorities” to extend such access, expansion options subject to risk management requirements, and any “impediments” that hinder direct access.

The Order noted that fintech firms help provide” low-cost and efficient access” to financial markets, creating economic opportunities for all Americans.

“The Federal government must update its outdated regulations to allow integration of digital assets and other novel financial technology into …

Full story available on Benzinga.com

This post was originally published here

On:

Nvidia Corp. (NASDAQ:NVDA) is set to release its first-quarter financials on Wednesday after the closing bell, and cryptocurrency bettors are speculating on a variety of topics that could be mentioned during the earnings call by CEO Jensen Huang and his team.

Word-Mention Market Buzzing

Polygon (CRYPTO: POL)-based Polymarket assigned a 92% chance that “Gigawatt” will be mentioned, followed by “OpenAI” and “Incredible at 86% each.

It was hardly a surprise that traders priced in a 87% chance that “AI” would be mentioned more than 30 times during the call. Nvidia’s earnings have remained the central event for the broader AI trade for some years now.

Notably, Nvidia confirmed earlier this week that leading AI companies, including OpenAI, were evaluating its new Vera CPU platform.

As of this writing, there was an 80% probability that “Meta” would be mentioned, amid Nvidia’s long-term infrastructure …

Full story available on Benzinga.com

This post was originally published here

On:

Leading cryptocurrencies stayed weak alongside stocks on Tuesday as President Donald Trump warned the U.S. would wait only for a “limited period of time” if a deal with Iran is not made sooner.

Cryptocurrency 24-Hour Gains +/- Price (Recorded at 9:30 p.m. EDT)
Bitcoin (CRYPTO: BTC) -0.05% $76,666.92
Ethereum (CRYPTO: ETH)
               		 -0.77% $2,107.43
XRP (CRYPTO: XRP)                          -2.39% $1.35
Solana (CRYPTO: SOL)                          -1.17% $84.09
Dogecoin (CRYPTO: DOGE)              -1.67% $0.1026

Crypto Market Loses Momentum

Bitcoin wiggled in the range between $76,000 and $77,000, even as 24-hour trading volume fell drastically. Ethereum fell below $2,100 in the early trading hours, before recovering slightly in the evening. XRP and Dogecoin traded in the red.

Cryptocurrency-related stocks slipped further, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 1.20% and 0.53%, respectively.

Over $150 million was liquidated in the past 24 hours, with $104 million in long positions alone erased, according to Coinglass data.

Bitcoin’s open interest fell nearly 1% over the last 24 hours, with the majority of retail and whale derivatives traders on Binance positioned long on the leading cryptocurrency. 

Top Gainers (24 Hours) 

Cryptocurrency (Market Cap>$100 M) Gains +/- Price (Recorded at 9:30 p.m. EDT)
Block Street (BSB)       +23.21%     $0.8309
Banana For Scale (BANANAS31)                    +14.49%     $0.01140
Sahara AI (SAHARA)             +13.35%     $0.03689

The global cryptocurrency market capitalization stood at $2.55 trillion, following a contraction …

Full story available on Benzinga.com

This post was originally published here

On:

Bakkt, Inc. (NASDAQ:BKKT) shares surged on Tuesday as investors reacted to the company’s commercial expansion strategy and insider purchases totaling about $4.85 million, despite weaker first-quarter financial results earlier this month.

• Bakkt stock is charging ahead with explosive momentum. What’s driving BKKT stock higher?

Insider Buying Boosts Investor Sentiment

SEC filings showed Director Michael Alfred, through Alpine Fox LP, purchased about 585,000 shares between May 15 and May 18 at weighted-average prices of $8.34 and $8.20 per share, increasing his indirect holdings to 625,000 shares.

CEO Akshay Sudhir Naheta also exercised 33,557 committed stock options on May 15 at $10 per share under a Rule 10b5-1 trading plan.

Intercontinental Exchange remains Bakkt’s largest shareholder, with approximately a 19.8% stake.

Quarterly Results Miss Expectations

Earlier this month, Bakkt reported first-quarter revenue of $243.59 million, down 77.1% year over year and below analyst estimates of $310.89 million.

The company …

Full story available on Benzinga.com

This post was originally published here

On:

Crypto analyst Taiki Maeda argues Bitcoin (CRYPTO: BTC) bottomed at $60,000 and named Zcash (CRYPTO: ZEC), Hyperliquid (CRYPTO: HYPE), and Bitcoin as his “holy trinity” portfolio destined for significantly higher prices.

Bitcoin Bottomed At $60,000 On Peak Bearish Sentiment

Maeda pointed to the Fear and Greed Index hitting the lowest reading in crypto’s history last month at $66,000 Bitcoin—lower than the 3AC collapse, Luna crash, or COVID crash.

“We hit the lowest fear and greed rating in the history of crypto’s existence last month at 66,000,” Maeda stated. 

He argued that sellers ran out of tokens after months of liquidations and capitulation.

Michael Saylor’s aggressive Bitcoin purchases through Strategy Inc. (NASDAQ:MSTR) provided the catalyst.

Saylor bought $1.5 billion …

Full story available on Benzinga.com

This post was originally published here

On:

XRP (CRYPTO: XRP) and Solana (CRYPTO: SOL) products attracted $67.6 million and $55.1 million in inflows, respectively, last week even as Bitcoin (CRYPTO: BTC) funds bled $982 million, signaling rotation into select altcoins rather than a crypto exit.

Investors Rotating Into Selective Altcoin Exposure

Ethereum (CRYPTO: ETH) products shed $249 million in the week ended May 15, according to CoinShares, but altcoins held up notably well, with XRP, Solana, TON (CRYPTO: TON), Dogecoin (CRYPTO: DOGE), and Chainlink (CRYPTO: LINK) all attracting fresh capital.

CoinShares Head of Research James Butterfill noted that investors are looking past Bitcoin and Ethereum for selective exposure. 

The divergence comes as XRP held …

Full story available on Benzinga.com

This post was originally published here

On:

Canaan Inc. (NASDAQ:CAN) stock fell Tuesday after the cryptocurrency mining hardware company reported mixed first-quarter results and issued second-quarter revenue guidance that came in well below Wall Street expectations.

First-Quarter Revenue And Earnings Weaken

First-quarter revenue declined to $62.69 million from $82.8 million a year earlier, although it slightly topped analyst estimates of $61.35 million. The company reported a quarterly loss of 13 cents per share, wider than analysts’ expectations for a loss of 7 cents per share.

Product revenue fell to $42.9 million from $58.3 million a year ago, primarily due to lower computing power sales. Mining revenue declined to $19.1 million from $24.3 million, mainly because of lower average Bitcoin (CRYPTO: BTC/USD) prices, partially offset by higher energized mining computing power.

Gross Loss Widens Amid Market Pressure

Canaan posted a gross loss of $22.9 million for the quarter, compared with a gross profit of $646,000 a year earlier. Net loss widened …

Full story available on Benzinga.com

This post was originally published here

On:

Hyperliquid-linked ETFs are rapidly evolving into one of Wall Street’s newest crypto infrastructure trades, as issuers race to launch products tied to the fast-growing decentralized derivatives ecosystem.

Kam Benbrik, Head of Research at Bitwise Asset Management’s Bitwise Onchain Solutions division, says the story is no longer just about token exposure — it is increasingly about gaining access to verifiable, real-time on-chain financial activity.

“Having a fully onchain order book means that every order and trade is recorded directly on the blockchain,” Benbrik said. “There is no off-chain matching engine and no operator that can reorder or delay transactions in the background.”

That distinction is becoming central to the growing wave of Hyperliquid ETF launches. Earlier this month, Bitwise launched the Bitwise Hyperliquid ETF (NYSE:BHYP), one of the first U.S.-listed spot Hyperliquid products and the first to integrate in-house staking through Bitwise Onchain Solutions.

The launch followed 21Shares‘ rollout of two Hyperliquid-linked funds: the 21Shares Hyperliquid ETF (NASDAQ:THYP), which provides spot HYPE exposure with staking rewards, and the leveraged 21Shares 2x Long HYPE ETF (NASDAQ:TXXH). Reports also suggest firms, including Grayscale, have filed competing products as issuers rush to establish an early lead in what is quickly becoming one of crypto ETFs’ fastest-growing niches.

data-variant=”card”
…

This post was originally published here

On:

Bernstein has assigned Outperform ratings to four Bitcoin (CRYPTO: BTC) miners, citing over $90 billion in AI deals covering 3.7 gigawatts of power capacity across hyperscalers, neoclouds, and chip providers.

Price Targets Imply Massive Upside From Monday Close

Bernstein set a $100 price target on IREN (NASDAQ:IREN), implying 98.1% upside from Monday’s $50.46 close. 

CleanSpark (NASDAQ:CLSK) received a $24 target, implying 78.5% upside from $13.44.

Moreover, Riot Platforms (NASDAQ:RIOT) got a $25 target for 7.8% upside from $23.18, while Core Scientific (NASDAQ:CORZ) received a $24 target, 1.8% above Monday’s $23.57 close.

MARA Holdings (NASDAQ:MARA) maintained its …

Full story available on Benzinga.com

This post was originally published here

On:

Bitcoin (CRYPTO: BTC) trades below $77,000 after getting rejected at the 200-day moving average, and analyst Benjamin Cowen expects weakness to persist into Q3 and early Q4.

200-Day MA Provided Resistance In Every Bear Market

The 200-day moving average provided resistance in May 2018, March 2022, and now May 2026. Bitcoin rallied to the 200-day MA in all three cases before selling off into June.

The only exception was 2014 when Bitcoin got slightly above the 200-day MA in June before ultimately collapsing. 

Cowen noted that bear markets typically see Bitcoin find temporary support around the 20-week moving average at $75,000 after getting rejected at the 200-day MA.

Two Paths To October Bottom

Cowen outlined two scenarios leading to a Q4 low. The more bearish path sees Bitcoin drop into May, hold briefly, then sell off into June and sweep the February low like it did in …

Full story available on Benzinga.com

This post was originally published here

On:

Renowned investor and media personality Kevin O’Leary made a sharp distinction between Bitcoin (CRYPTO: BTC) and dollar-denominated stablecoin on Monday, attributing the latter’s value to its backing by U.S. Treasuries or T-bills.

Why O’Leary Thinks Stablecoin Have Value

O’Leary took to X, sharing a clip from his recent appearance on Fox News, in which he described Bitcoin as a “speculative asset,” prone to volatile price swings.

In contrast, he pointed out that “stablecoins have value” as they are backed by reserves of cash and cash equivalents, including T-bills.

Tether (CRYPTO: USDT), the issuer of the world’s largest stablecoin by market capitalization, holds over $141 billion in U.S. Treasuries, although an independent audit has never verified these numbers.

Full story available on Benzinga.com

This post was originally published here

On:

Rep. Thomas Massie may not be a hot favourite to win Kentucky’s primary on prediction markets, but Former Rep. Marjorie Taylor Greene said on Monday that a bet on him offers “solid value.”

Greene Bats For Massie’s Win Despite Overwhelming Odds

Polygon (CRYPTO: POL)-based Polymarket placed Massie’s odds in Tuesday’s primary at 42% as of this writing, while Ed Gallrein, who President Donald Trump has endorsed, was leading at 52%.

On Kalshi, Massie had a 44% chance to win Tuesday’s primary, compared to 58% for Gallrein.

But Greene remained unconvinced, claiming instead that “foreign billionaires” were trying to influence the Kentucky congressional race by “dumping tens of millions.”

“Despite all that spending, the energy on the ground is clearly with Massie,” Greene said. “At current odds, a Massie buy looks like not only pretty solid value, but a Massie vote is even more so 100% AMERICA FIRST.”

Full story available on Benzinga.com

This post was originally published here

On:

Banking behemoth Goldman Sachs Group, Inc. (NYSE:GS) sold all its Solana (CRYPTO: SOL) and XRP (CRYPTO: ETF) exchange-traded fund holdings in the first quarter, according to its latest 13F filing released Friday.

Major Altcoin Positions Dumped

Goldman Sachs liquidated its position in Bitwise XRP ETF (NYSE:XRP), Franklin XRP ETF (NYSE:XRPZ), 21Shares XRP ETF (BATS:TOXR) and Grayscale XRP Trust ETF (NYSE:GXRP), all of which it had acquired only in the previous quarter.

The firm also dumped the entirety of its holdings in Bitwise Solana Staking ETF (NYSE:BSOL), Fidelity Solana Fund (NYSE:FSOL), Grayscale Solana Trust ETF (NYSE:GSOL), VanEck Solana ETF (NASDAQ:VSOL), Franklin Solana …

Full story available on Benzinga.com

This post was originally published here

On:

Billionaire investor and television celebrity Mark Cuban expressed support for regulation in emerging sectors on Monday, recalling the criticism he received for calling for rules for the cryptocurrency industry earlier.

Critics Oppose Cuban’s Plan

In an X post, Cuban proposed a federal tax on AI-related tokens to incentivize tokenization, while also creating a source of funding to pay down the federal debt.

Critics objected to the proposal, arguing that the government won’t use additional revenue to pay down the debt, and the “downstream consequences” could get “far worse.”

Full story available on Benzinga.com

This post was originally published here

On:

Iran’s leading cryptocurrency exchange, Nobitex, has reportedly processed trades worth millions on Tron (CRYPTO: TRX) and BNB Chain (CRYPTO: BNB) since the beginning of the war, according to a report published on Monday.

Tron, Binance Used As Conduits?

Since the Iran war started in late February, cryptocurrency worth at least $22.6 million has moved through Nobitex on BNB Chain, and at least $550,000 has moved via Tron, Reuters reported.

Further analysis indicated that, from January 2023 onward, Nobitex—widely used by sanctioned Iranian institutions as well as ordinary citizens—processed in excess of $2 billion on the Tron network and approximately $317 million on the BNB Chain.

data-variant=”card”
data-news-mode=”manual”

>


Read Also:

Pay Bitcoin, Sail Through Hormuz? Iran Reportedly Proposes Insurance Platform For Ships Passing Through The Strait

This post was originally published here

On:

Bakkt Inc. (NYSE:BKKT) shares jumped 16.17% to $10.13 after the bell on Monday, after Securities and Exchange Commission filings disclosed insider activity.

Insider Activity

Director Michael Alfred, through the Las Vegas-based hedge fund Alpine Fox LP, bought 365,000 shares on May 15 at a weighted average price of $8.34 per share. He then purchased another 220,000 shares on May 18 at $8.20 per share.

The two transactions totaled about 585,000 shares valued at approximately $4.85 million. Following the purchases, Alfred indirectly owns 625,000 shares.

According to a separate SEC filing, CEO Akshay Sudhir Naheta exercised 33,557 committed stock options on May 15 at $10 per share, for a total value of about $335,570. The transaction was carried out under a pre-established Rule 10b5-1 plan, an SEC-approved trading arrangement that allows corporate insiders to buy or sell shares on a fixed schedule while helping protect them from insider trading liability.

What You Should Know

On May 11, Bakkt reported first-quarter 2026 revenue of $243.59 million, down 77.1% …

Full story available on Benzinga.com

This post was originally published here

On:

Leading cryptocurrencies stagnated, while stocks closed lower on Monday after President Donald Trump hinted at a “large-scale” assault on Iran.

Cryptocurrency 24-Hour Gains +/- Price (Recorded at 9:30 p.m. EDT)
Bitcoin (CRYPTO: BTC) -0.05% $76,797.74
Ethereum (CRYPTO: ETH)
               		 +0.83% $2,127.26
XRP (CRYPTO: XRP)                          -0.07% $1.38
Solana (CRYPTO: SOL)                          +0.37% $85.10
Dogecoin (CRYPTO: DOGE)              -1.81% $0.1043

Crypto Goes Into ‘Extreme Fear’

Bitcoin witnessed volatile trading between $76,000 and $77,000, with volumes soaring 76% over the past 24 hours.  Ethereum also experienced rapid swings between $2,078 and $2,155, while Dogecoin fell nearly 2%.

Cryptocurrency-related stocks slipped, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 6.08% and 5.74%, respectively.

Over $300 million was liquidated in the past 24 hours, with long position traders again taking the majority of the losses, according to Coinglass data.

Bitcoin’s open interest rose 1.07% over the last 24 hours. A rise in open interest while prices trade sideways typically indicates a potential price breakout. 

The market slipped into “Extreme Fear,” according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

Cryptocurrency (Market Cap>$100 M) Gains +/- Price (Recorded at 9:30 p.m. EDT)
OriginTrail (TRAC)       +19.77%     $0.3874
Centrifuge (CFG)                    +16.54%     $0.2976
Injective (INJ)             +14.10%     $5.20

The global cryptocurrency market capitalization stood at $2.56 trillion, following a slight increase of 0.03% over the last …

Full story available on Benzinga.com

This post was originally published here

On:

Bitcoin dropped into the $76,000 region as spot ETF outflows and weakening sentiment pushed crypto sentiment deeper into fear territory.

Cryptocurrency Ticker Price
Bitcoin (CRYPTO: BTC) $76,259
Ethereum (CRYPTO: ETH) $2,085
Solana (CRYPTO: SOL) $83.68
XRP (CRYPTO: XRP) $1.38
Dogecoin (CRYPTO: DOGE) $0.1039
Shiba Inu (CRYPTO: SHIB) $0.055701

Notable Statistics:

  • Coinglass data shows 124,022 traders were liquidated in the past 24 hours for $816.06 million.       
  • SoSoValue data shows net outflows of $290.4 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net outflows of $65.7 million.
  • In the past 24 hours, top losers include Bitcoin Cash, Flare and Aerodrome Finance.

Notable Developments:

Full story available on Benzinga.com

This post was originally published here

On:

Dogecoin (CRYPTO: DOGE) dropped 5% on Monday as Shiba Inu (CRYPTO: SHIB) fell only 0.5% thanks to a massive burn spike cushioning SHIB’s decline.

DOGE Retesting 0.5 Fibonacci Support

Dogecoin pulled back to $0.1039, retesting the 0.5 Fibonacci level at $0.1037 which has acted as a pivot zone for weeks. 

Price tagged the 0.786 Fib at $0.1173 last week before sellers defended, and now it’s unwinding back to the midpoint.

Four FVGs stacked above between $0.1200–$0.1450 are the destination, created during February’s aggressive sell-off and left unfilled. 

The ascending channel from March lows remains intact, with the 20 EMA at $0.1081 and 50 EMA at $0.1038 converging right at current price as dynamic …

Full story available on Benzinga.com

This post was originally published here

On:

Galaxy Digital Holdings Ltd. (NASDAQ:GLXY) secured a major regulatory win on Monday as the New York State Department of Financial Services granted the firm a BitLicense and Money Transmission License.

Why The License Matters

The license will expand Galaxy’s ability to serve institutional crypto clients in one of the industry’s most tightly regulated markets.

The approval allows GalaxyOne Prime NY to offer regulated digital asset trading and custody services to institutions across New York, including registered investment advisors, hedge funds and family offices.

“New York is home to the deepest pool of institutional capital in the country, and digital assets are no longer sitting at the edge of those …

Full story available on Benzinga.com

This post was originally published here

On:

Crypto policy watchers are eyeing the CLARITY Act as industry voices say the bill is “good enough to pass,” even after lawmakers removed several hot-button provisions.

Stablecoins On Track To Reach ‘Multiple Trillions’

On a Blockworks panel, Bitwise Chief Investment Officer Matt Hougan said crypto firms are now largely aligned around getting legislation “over the hump.”

Anchorage’s Head of Research David Lawant argued the bill has reached a stage where “it’s good enough for us to pass.”

The analysts said bipartisan support, especially from moderate Democrats, remains critical, as stablecoin regulation and crypto market structure have increasing influence on competitiveness in the U.S.

Lawant said stablecoins are already on track …

Full story available on Benzinga.com

This post was originally published here

On:

President’s Council of Advisors for Digital Assets member Patrick Witt confirmed a Strategic Bitcoin (CRYPTO: BTC) Reserve announcement is coming.

Strategic Bitcoin Reserve Progress Behind The Scenes

Witt said in an interview with Scott Melker on Sunday that Deputy Chief Harry Jung has led the charge on the Strategic Bitcoin Reserve, working through the interagency process triggered by President Trump’s executive order.

The work never stopped despite the CLARITY Act dominating headlines.

“We’ll have an announcement,” he stated, declining to provide specifics. The breakthrough involves getting everything in place that’s legally sound and properly safeguarding assets.

The recent theft of digital assets from the U.S. Marshals Service proved the government needs to take custody seriously.

Executive Orders Highly Reversible Without Legislation

Witt emphasized the Strategic Bitcoin Reserve must be codified into law because executive orders are easily reversed with regime change.

Trump reversed Biden’s executive …

Full story available on Benzinga.com

This post was originally published here

On:

XRP (CRYPTO: XRP) is down over 2% on the day, but a prominent trader says the altcoin remains in an interesting spot.

Why XRP Is Looking Interesting

In a May 18 podcast, pseudonymous trader Cryptoinsightuk said Bitcoin (CRYPTO: BTC) still has not broken critical market structure despite rising bond yields, geopolitical tensions and weakening risk sentiment.

The trader said downside liquidity sits in the low $60,000s, but current liquidity maps still heavily favor upside price attraction toward higher levels first.

The XRP setup is where the analysis turns more aggressive.

The …

Full story available on Benzinga.com

This post was originally published here

On:

Crypto stocks, such as Coinbase (NASDAQ:COIN) and MARA Holdings (NASDAQ:MARA), are down 4% on Monday, with Robinhood Markets Inc. (NASDAQ:HOOD) showing notable relative strength.

HOOD Holding Major Fibonacci Support

Robinhood is sitting between the 0.236 Fibonacci retracement at $75.45 and 0.382 Fib at $78.86. 

This compression zone needs to break upward for the next leg higher.

Every Fibonacci level above represents a clear target ladder: $78.86 → $81.63 → $84.39 → $88.31, with the full swing high retest at $93.32 as the macro target. 

The EMA stack remains bearish overhead with all four declining EMAs stacked as resistance layers.

Support sits at $75.45 …

Full story available on Benzinga.com

This post was originally published here

On:

Circle (NYSE:CRCL) has gained a potential long-term advantage after lawmakers advanced the Clarity Act, according to Bernstein.

Bernstein analysts said the compromise language in the bill effectively blocks a “yield arms race” where stablecoin issuers compete by offering higher interest rates to attract deposits.

That distinction matters for Circle because the company does not directly pay passive yield on USDC holdings. Instead, partners like Coinbase Global Inc (NASDAQ:COIN) use distribution agreements and activity-based rewards tied to (CRYPTO: USDC) usage.

Bernstein maintained outperform ratings …

Full story available on Benzinga.com

This post was originally published here

On:

Bitcoin Depot Inc. (NASDAQ:BTM) on Monday announced that it filed for voluntary Chapter 11 protection after tighter regulations and mounting litigation costs pressured operations.

Collapsing transaction volumes pushed the company into crisis, forcing it to shut down its entire Bitcoin ATM network.

Regulatory Pressure Intensified

Pressure on the company accelerated in early 2026 as regulators increased scrutiny of Bitcoin ATM operators.

Authorities imposed stricter compliance requirements, transaction limits, and additional operational restrictions on the industry.

In February, Bitcoin Depot introduced mandatory ID verification for all kiosk transactions and lowered transaction limits. The company said the measures were part of expanded fraud prevention and compliance efforts.

That same month, Bitcoin Depot completed a one-for-seven reverse stock split to maintain its Nasdaq listing.

Leadership Transition Signaled Strategic Shift

In March, Alex Holmes, previously CEO of MoneyGram, replaced Scott Buchanan as chief executive officer.

Management said it would focus on operational stability and diversification beyond the core Bitcoin ATM business.

The leadership …

Full story available on Benzinga.com

This post was originally published here

On:

BitMine Immersion Technologies Inc. (NASDAQ:BMNR) purchased 71,672 Ethereum (CRYPTO: ETH) worth $157 million last week, while Tom Lee identified surging oil prices as culprit for ETH’s weakness below $2,200.

Tom Lee Buys The Dip Below $2,200

Bitmine’s purchase was a sharp increase from the previous week’s 26,000 token haul. The size was notable as Lee recently said the company would slow ETH purchases.

“We view the recent pullback of ETH to below $2,200 as an attractive opportunity,” Lee stated. The latest purchase lifted Bitmine’s holdings to almost 5.28 million ETH, or about 4.37% of Ethereum’s circulating supply.

The firm’s total crypto and cash holdings now stand at $12.6 billion, including 202 Bitcoin

Full story available on Benzinga.com

This post was originally published here

On:

Bitcoin (CRYPTO: BTC) is trading below the key $78,000 level as analysts debate whether the latest rally is a recovery, or another classic bear market trap.

Why Analysts Say This Isn’t “Different”

In a May 18 podcast, Benjamin Cowen argued that bear markets rarely move in straight lines. Instead, they often produce sharp countertrend rallies that make bulls feel right for months before the market eventually breaks lower again.

The comparison many traders are making is to Bitcoin’s prior bear cycles:

  • In 2018, Bitcoin bottomed in February, rallied for months and didn’t break those lows until June.
  • In 2022, Bitcoin also spent roughly 21 weeks before making a new cycle low.
  • Historical bear markets have often taken 19 to 25 weeks before the …

Full story available on Benzinga.com

This post was originally published here

On:

Strategy Inc. (NASDAQ:MSTR) purchased 24,869 Bitcoin (CRYPTO: BTC) for approximately $2.01 billion at an average price of $80,985 per coin last week, bringing total holdings to 843,738 BTC.

Strategy Now Holds Over 4% Of Bitcoin Supply

Strategy’s total Bitcoin holdings now represent more than 4% of Bitcoin’s 21 million supply cap. 

The company acquired all 843,738 BTC at an average price of $75,700 per coin for a total cost of around $63.9 billion, implying approximately $1.4 billion in paper gains at current prices.

The latest acquisitions were funded through at-the-market sales of Class A common stock MSTR and perpetual preferred stock STRC. 

Strategy sold 430,344 MSTR shares for approximately $83.7 million and 19,519,801 STRC shares for $1.95 billion.

Michael Saylor hinted at the purchase beforehand, sharing “Big dot energy” on Sunday, suggesting a substantial acquisition disclosure was coming.

STRC Preferred Stock Driving Recent Purchases

STRC, a variable-rate cumulative preferred stock offering monthly …

Full story available on Benzinga.com

This post was originally published here

On:

Bitcoin has broken below $77,000, following $290.4 million in net outflows from Bitcoin ETFs on Friday, while Ethereum ETFs reported $65.7 million in net outflows.    


Cryptocurrency
Ticker
Price
Bitcoin (CRYPTO: BTC) $76,788.45
Ethereum (CRYPTO: ETH) $2,113.86
Solana (CRYPTO: SOL) $84.30
XRP (CRYPTO: XRP) $1.37
Dogecoin (CRYPTO: DOGE) $0.1041
Shiba Inu (CRYPTO: SHIB) $0.055642

Meme coin market capitalization is trading 3.2% lower at $35.5 billion over the past 24 hours.

Trader Commentary: 

Trader Alex Wacy said …

Full story available on Benzinga.com

This post was originally published here

On:

Bitcoin Depot Inc. (NASDAQ:BTM) on Monday filed for Chapter 11 bankruptcy and took its entire network of 9,000 Bitcoin ATMs offline, sending the stock down 33% to $0.01 in premarket trading.

CEO Alex Holmes said increasingly stringent state compliance obligations, new transaction limits, and outright bans on Bitcoin ATM operations in some jurisdictions made the business model unsustainable.

The company filed in the U.S. Bankruptcy Court for the Southern District of Texas to facilitate an orderly wind-down and asset sale. The entire Bitcoin ATM network has been taken offline.

$3.7M Hack Added To Mounting Difficulties

Bitcoin Depot suffered a security breach in April that resulted in $3.7 million stolen from its crypto wallets. 

The hack came one month after the company overhauled leadership and appointed Holmes as CEO following Connecticut’s suspension of its money transmission …

Full story available on Benzinga.com

This post was originally published here

On:

Bitcoin Depot (NASDAQ:BTM), one of the world’s largest operators of Bitcoin (CRYPTO: BTC) ATMs, said on Monday it has initiated a voluntary Chapter 11 process to wind down operations and sell off its assets.

Bitcoin Depot To Close Down

Bitcoin Depot filed the proceedings in the U.S. Bankruptcy Court for the Southern District of Texas, adding that all of its network of ATMs has been taken offline.

The firm added that its Canadian subsidiaries are included in the U.S. court process and that it will begin formal restructuring in Canada at the appropriate time.

Bitcoin Depot CEO Alex Holmes stated that “stringent compliance obligations” imposed by states, including new transaction limits and, in some jurisdictions, outright restrictions or bans on Bitcoin ATM operations, rendered the business economically “unsustainable.”

data-variant=”card”
…

This post was originally published here

On:

Influential Wall Street investor Jordi Visser viewed Dogecoin (CRYPTO: DOGE) as a key indicator of retail interest in cryptocurrency on Friday, encouraging traders to keep a close eye on it.

Is DOGE About To Breakout?

During an interview with entrepreneur and investor Anthony Pompliano, Visser said that DOGE doesn’t really hold any significance from an institutional point of view, and has nothing associated with what he does.

“The reason I started looking at it is technically it looks close to a breakout,” he said. “Dogecoin to me, if it can break out and actually run, that would mean that retail is starting to get interested.”

Comparison With …

Full story available on Benzinga.com

This post was originally published here

On:

Iran has proposed managing the Strait of Hormuz through an insurance-based model, state media reported on Sunday.

Iran’s ‘Insurance Plan’ For Vessels

The model would allow Iran to retain control over the Strait, while also being acceptable to other nations during peacetime, Fars News Agency reported, citing a document obtained from the Ministry of Economy.

Under the proposed plan, the critical waterway would be managed through an insurance framework, allowing for the issuance of “marine insurance policies” and “certificates of financial responsibility.”

The plan would start with insurance covering risks such as inspection, detention, and confiscation, excluding damages from weapon strikes.

Officials involved in the project estimate that the platform could eventually generate more than $10 billion in revenue for Iran, according to the report.

data-variant=”card”
data-news-mode=”manual”

>


Read Also:

Trump Says Stopping Iran Nukes Matters More …

This post was originally published here

On:

Leading cryptocurrencies plunged alongside stock futures on Sunday evening after President Donald Trump’s latest warning to Iran spooked investors.

Cryptocurrency 24-Hour Gains +/- Price (Recorded at 9:20 p.m. EDT)
Bitcoin (CRYPTO: BTC) -1.37% $76,959.12
Ethereum (CRYPTO: ETH)
               		 -3.24% $2,110.19
XRP (CRYPTO: XRP)                          -1.22% $1.39
Solana (CRYPTO: SOL)                          -1.06% $85.35
Dogecoin (CRYPTO: DOGE)              -2.14% $0.1067

Crypto Market Sinks

Bitcoin dived below $77,000 late in the evening, while trading volume plunged 13% in the 24 hours.  The decline rippled through the rest of the market, with Ethereum, XRP and Dogecoin also trading lower.

Over $580 million was liquidated in the past 4 hours, with $550 million in long positions alone erased, according to Coinglass data.

Bitcoin’s open interest fell 2.39% over the last 24 hours. Notably, sentiment in the derivatives market turned bullish, with retail and whale traders on Binance increasing long bets.

“Fear” sentiment prevailed in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

Cryptocurrency (Market Cap>$100 M) Gains +/- Price (Recorded at 9:20 p.m. EDT)
Block Street (BSB)       +36.19%     $0.5984
Billions Network (BILL)                    +12.84%     …

Full story available on Benzinga.com

This post was originally published here

On:

Ripple (CRYPTO: XRP) has gone nowhere this month, continuing a consolidation that began in February. It has remained range-bound between support and resistance levels of $1.2753 and $1.6050 over this period, despite spot XRP ETFs being on track for their best month of the year.

Spot XRP ETFs Are On Track For The Best Month This Year

There are signs that American investors are accumulating the XRP tokens as it continues to consolidate. Data compiled by SoSoValue shows that the spot XRP ETFs have added over $94 million this month.

The inflows are much higher than the $81 million they added in April. They are also the highest since December, when they added $499 million in assets. 

Bitwise’s XRP ETF has maintained the largest market share with over $362 million in assets, followed by Canary’s XRPC with $302 million and Franklin Templeton’s XRPZ with $285 million. In total, spot XRP ETFs hold $1.18 billion in assets, equivalent to 1.33% of XRP’s total market capitalization.

XRP ETFs have done better than spot Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL). Spot Ethereum ETFs …

Full story available on Benzinga.com

This post was originally published here

On:

This week was a rollercoaster ride in the world of cryptocurrency. From predictions of a bearish summer for Bitcoin to the end of the crypto winter, the market was buzzing with activity. Let’s dive into the top stories that shaped the week.

Bitcoin’s Bearish Summer Ahead?

A prominent analyst, Kevin, who previously predicted Bitcoin’s peak at $125,000, is now forecasting a bearish summer for the cryptocurrency. He attributes this to Bitcoin’s inability to break key resistance during the 2025 rally, coupled with weakening momentum indicators and bearish divergences.

Read the full article here.

Saylor’s Bitcoin ‘Ruse’

Bitcoin advocate Scott Melker argued that investors are increasingly front-running expected Bitcoin purchases tied to Strategy’s capital raises and preferred-share programs. He believes that if STRC remains popular, it could become a self-fulfilling flywheel.

Read the full article here.

data-variant=”card”
…

This post was originally published here

On:

Bitcoin (CRYPTO: BTC) has lost momentum over the past few days. It retreated to $78,140 in Saturday, down from this month’s high of $82,553. Its has formed some alarming technical patterns, pointing to a bearish breakout as exchange-traded fund (ETF) outflows rise and as futures open interest drops.

Bitcoin Price Drops As ETF Outflows Rise, Liquidations Jump

BTC’s price could be at risk of more downside in the near future as third-party data points to waning demand. Spot Bitcoin ETFs suffered a $1 billion outflow this week, ending a six-week streak of inflows. As a result, the funds have now had net inflows of $250 million this month. 

Increasing Bitcoin ETF outflows is a sign that institutional demand is easing. Indeed, data shows that the Coinbase Premium Index has remained in the red since April 28. A higher index means that demand among American investors is rising. 

Bitcoin Coinbase Premium Index

More data shows that the futures open interest has started falling. Its open interest dropped to …

Full story available on Benzinga.com

This post was originally published here

On:

Mark Cuban, a billionaire investor and television celebrity, has championed cryptocurrency for years, but the defining moment for him came with Ethereum (CRYPTO: ETH) launching smart contracts.

The Initial Journey

In a June 2024 interview with Coinbase Chief Legal Officer Paul Grewal, Cuban said he “paid ättention” to Bitcoin (CRYPTO: BTC) early on and even created a Coinbase account to get some “free crypto.”

Mark Cuban revealed that Coinbase co-founder Brian Armstrong initially reached out to him.

“But I didn’t invest because I didn’t quite grasp it back then,” the “Shark Tank” star said.

This ‘Changed The Game’ For Cuban

But the “trigger moment,” …

Full story available on Benzinga.com

This post was originally published here

On:

The crypto market retreated Saturday, erasing nearly $70 billion in value as the total valuation of all coins dropped to $2.6 trillion. Bitcoin (CRYPTO: BTC) dropped below the key support at $80,000 and moved to $77,800 at press time. 

Ethereum (CRYPTO: ETH) price dropped to $2,170, while Ripple (CRYPTO: XRP) retreated by over 3.25% to $1.40. Some of the worst hit were coins like Humanity Protocol, World Liberty Financial, Venice Token and Canton.

Crypto Liquidations Jump As Prices Fall

The ongoing crypto market crash coincided with a big increase in liquidations. CoinGlass data show that the 24-hour liquidations jumped by 100% to $700 million, the biggest increase in days. 

More than 101,000 traders were liquidated in this period, with the biggest one being a Bitcoin trader whose $21 million was wiped out. Bitcoin positions worth $229 million were liquidated as it dropped below key psychological levels. 

Ethereum positions worth $197 million and XRP trades worth $13.6 million were liquidated. Some of the other most liquidated tokens were Solana

Full story available on Benzinga.com

This post was originally published here

On:

By JBizNews Desk | May 15, 2026

Bitcoin dropped back below the $80,000 threshold on Friday, trading at $79,108 in late-afternoon U.S. action as profit-taking and a hawkish repricing of Federal Reserve policy expectations rippled through the digital-asset market, according to live pricing data from Coinglass and SoSoValue.

Major crypto prices Friday afternoon:

  • Bitcoin (BTC): $79,108
  • Ethereum (ETH): $2,223
  • Solana (SOL): $89.66
  • XRP: $1.44
  • Dogecoin (DOGE): $0.1122
  • Shiba Inu (SHIB): $0.000056152

The Crypto Fear & Greed Index slipped to 46, holding sentiment in neutral territory after several weeks bouncing between greed and neutral readings.

The selling was concentrated and forceful. Coinglass data showed 127,628 traders were liquidated in the prior 24 hours for a combined $440.26 million, with the bulk of the wipeout hitting long positions that had built up on the recovery move toward $90,000 earlier this week. Funding rates across major perpetual swap markets remained negative even as spot prices firmed earlier in the week, an unusual configuration flagged by anonymous derivatives trader Cryptoinsightuk, who said the divergence “shows derivatives traders remain heavily positioned to the short side” and described Friday’s weakness as “not panic level, just logical.” The same trader argued that pullbacks toward the middle of long-term price channels often serve as logical reset zones before the market chooses a direction, and noted that the negative funding setup could fuel a sharp short squeeze if Bitcoin breaks above the current range.

The macro backdrop is doing most of the heavy lifting on the downside. April CPI released by the Bureau of Labor Statistics Tuesday came in at 3.8% year over year, the highest reading since May 2023. April PPI released Wednesday jumped 6% annually, the hottest pace since 2022. The two prints together forced traders to abandon any remaining bets on a 2026 Federal Reserve rate cut and to begin pricing in the possibility of a quarter-point hike before year-end. CME FedWatch odds of a December hike climbed to roughly 51%, with January 2027 odds near 60%, up from near-zero a month ago. The 10-year U.S. Treasury yield jumped to 4.55%, a fresh one-year high, draining liquidity from speculative assets that had been rallying on the assumption of an easier policy path.

The Fed transition added another layer. Kevin Warsh was sworn in Friday as Federal Reserve chair, replacing Jerome Powell, whose term expired the same day. Crypto traders are watching closely to see whether Warsh — known for a rules-based, anti-inflation stance — strikes a more hawkish or more rules-based dollar tone in his first communications. Geoffrey Kendrick, global head of digital assets research at Standard Chartered, recently cut his year-end Bitcoin price target to $100,000 from $150,000, citing reduced odds of rate cuts before the Iran war even factored into the model. Kendrick said the selloff to date “has been less extreme than previous ones and has not seen the collapse of any digital asset platforms,” a comment echoed by Ark Invest founder Cathie Wood, who called Bitcoin’s roughly 50% peak-to-trough drawdown “a real victory” against the 85% to 95% declines of prior cycles.

ETF flows tell a mixed story. SoSoValue data showed net inflows of $131.3 million across U.S. spot Bitcoin ETFs on Thursday, a partial recovery after a brutal Wednesday print that registered net outflows of $635 million — one of the largest single-day outflow totals on record. BlackRock’s iShares Bitcoin Trust (IBIT) remained the dominant flow vehicle, while Fidelity’s FBTC also recorded inflows. Total spot Bitcoin ETF assets under management stand near $109 billion, an all-time high, with the structural ratio of ETF holdings to daily miner production now sitting at roughly 10 to 1 — a dynamic that analysts at Phemex cited as the key reason this cycle’s drawdowns have been shallower than the 2018 or 2022 collapses.

Corporate Bitcoin purchases, a key marginal demand vector last year, have slowed sharply. Buying by publicly traded treasury accumulators is down roughly 80% from the prior month as institutional buyers use the price recovery to take partial profits rather than add to positions. The Iran war, the closure of the Strait of Hormuz since March 4, and WTI crude trading above $100 a barrel continue to act as a sticky inflation overlay that argues for tighter Fed policy and a stronger dollar — neither friendly to crypto. The U.S. Dollar Index is on pace for its best week since early March, having climbed for a fifth straight session to near 99.29.

For now, traders are watching three levels: $78,000 as the next major support for Bitcoin, the $2,200 line on Ether that has held since April, and the $1.40 mark on XRP, which traders said would need to break to confirm a deeper retracement. Whether Warsh’s first public remarks lean rules-based or hawkish may decide which level gives way first.

— JBizNews Desk
© JBizNews.com. All rights reserved. This article is original reporting by JBizNews Desk. Unauthorized reproduction or redistribution is strictly prohibited.

On:

Bitcoin slipped back below $80,000 on Friday as traders locked in profits and broader crypto sentiment cooled.

The Crypto Fear & Greed Index dropped to 46, keeping sentiment in neutral territory despite renewed volatility across major cryptocurrencies.

Cryptocurrency Ticker Price
Bitcoin (CRYPTO: BTC) $79,108
Ethereum (CRYPTO: ETH) $2,223
Solana (CRYPTO: SOL) $89.66
XRP (CRYPTO: XRP) $1.44
Dogecoin (CRYPTO: DOGE) $0.1122
Shiba Inu (CRYPTO: SHIB) $0.056152

Notable Statistics:

  • Coinglass data shows 127,628 traders were liquidated in the past 24 hours for $440.26 million.       
  • SoSoValue data shows net inflows of $131.3 million from spot Bitcoin ETFs on Thursday. Spot Ethereum …

Full story available on Benzinga.com

This post was originally published here

On:

Bitcoin’s (CRYPTO: BTC) recent rally toward the $74,000-$87,000 region fits a classic counter trend bounce rather than the start of a new bull market, according to a prominent analyst.

Why Is A Summer Weakness Predicted

Crypto analyst Kevin who earlier called Bitcoin’s rejection near $120,000-$125,000 says the market may still face another major leg lower before the next true bull cycle begins.

The analyst pointed to Bitcoin’s failure to break key resistance during the 2025 rally, combined with – weakening momentum indicators, bearish divergences and breakdowns below major moving averages – as early warning signs that the …

Full story available on Benzinga.com

This post was originally published here

On:

Shares of cryptocurrency exchange and blockchain technology company Bullish (NYSE:BLSH) tanked Friday morning, after the company on Thursday reported its first-quarter results.

• Bullish stock is feeling bearish pressure. Why is BLSH stock falling?

Here are the key analyst insights:

  • Cantor Fitzgerald analyst Brett Knoblauch maintained an Overweight rating, while raising the price target from $39 to $43.
  • Rosenblatt Securities analyst Chris Brendler reiterated a Neutral rating, while cutting the price target from $45 to $42.50.

Check out other analyst stock ratings.

Cantor Fitzgerald: Bullish’s adjusted revenue grew 49% year-on-year to $92.8 million and its adjusted EBITDA grew 166% to $35.1 million, with an adjusted EBITDA margin of 37.9%, Knoblauch said in a note.

Management indicated that adjusted revenue …

Full story available on Benzinga.com

This post was originally published here

On:

Bitcoin Depot Inc. (NASDAQ:BTM) is trading higher by 13.31% on Friday as traders lean into a rebound attempt after a steep 12-month drawdown.

The Nasdaq is down 1.30% while the S&P 500 has shed 0.94%.

Bitcoin Depot Warns Of Going Concern Risk

Recently, Bitcoin Depot said it may not be able to continue as a going concern after reporting a sharp revenue decline, rising litigation costs and ongoing regulatory pressure tied to its Bitcoin ATM business. The company disclosed the risks in an 8-K filing with the U.S. Securities and Exchange Commission.

The company filed a Form 12b-25 on May 12, stating it could not complete its quarterly Form 10-Q for the period ended March 31, 2026, within the required deadline. Bitcoin Depot said it needed additional time to review financial statements related to a previously disclosed material weakness involving its cash-in-transit reconciliation process.

The company said state and municipal regulations restricting Bitcoin ATMs, transaction limits and fee caps, along with enhanced Know-Your-Customer compliance measures, significantly hurt transaction volume and revenue. Bitcoin Depot also disclosed more than $20 million in legal judgments accrued during the fourth quarter of 2025 and said ongoing litigation continues to strain resources.

Management concluded that “substantial doubt exists about the Company’s ability to continue as a going concern.”

Preliminary Q1 Results …

Full story available on Benzinga.com

This post was originally published here