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Cryptocurrency markets shed approximately $80 billion in value over 24 hours after the United States carried out fresh military strikes on an Iranian military site near the Strait of Hormuz, obliterating the ceasefire optimism that had been building since Trump's peace deal announcement on Saturday and triggering one of the largest liquidation cascades of the year.Bitcoin fell to $72,912 in Asian trading hours Thursday — its lowest level since April 13 — before partially recovering to around $73,271. Ethereum dropped 4.2% to $1,976, falling back below $2,000 for the second consecutive session. Solana declined 3.5% to $80.57, XRP slid 3.6% to $1.28, and Dogecoin lost 3.2% to $0.0979.What happened: strikes, sanctions, and retaliationUS Central Command carried out airstrikes on an Iranian military site near the Strait of Hormuz and shot down four Iranian attack drones that a US official said posed a threat to commercial shipping. The official described the action as "measured, purely defensive, and intended to maintain the ceasefire."The ceasefire did not hold. Iran's Islamic Revolutionary Guard Corps reportedly retaliated by attacking a US airbase in Kuwait. Kuwait's military issued warnings that explosions heard in the country were air defense systems intercepting incoming targets. The US Treasury simultaneously imposed new sanctions on Iran's Persian Gulf Strait Authority, accusing it of extorting vessels transiting the waterway.President Trump, speaking at a White House cabinet meeting on Wednesday, said he was "not satisfied" with the current state of negotiations and alluded to further military action — language that directly reversed the optimism generated by his Saturday Truth Social post announcing a "largely negotiated" peace deal."It's international waters," Trump said of the Strait of Hormuz. "The strait's going to be open to everybody," adding that the US would "watch over it." The statement signals a hardening negotiating position rather than the imminent finalization markets had been pricing.The liquidation cascade: $958 million, 93% longsCoinGlass data shows $958.8 million in total crypto liquidations over 24 hours across 167,706 traders — with $897 million coming from long positions and just $61 million from shorts. The 93% long skew on a near-billion-dollar flush is the signature of a market caught leaning heavily in one direction when the move goes the other way.Bitcoin liquidations led at $386 million, followed by Ethereum at $246 million. The largest single liquidation order was a $15.34 million BTC position on Hyperliquid. The leverage that had accumulated through the mid-May consolidation range above $74,000 — traders positioned for a recovery toward $80,000 following the peace deal optimism — was cleared almost entirely in a single session.The speed of the unwind reflects how fragile the positioning had become. Bitcoin had held above $74,000 through several weeks of Iran conflict headlines, ETF outflows, and macro deterioration. Thursday's strikes broke that floor, and the liquidation cascade that followed suggests the market had not adequately hedged for a scenario where the peace process collapsed rather than progressed.Oil, equities, and the macro domino effectCrude oil reacted immediately to the strike news. WTI rose 3.5% to top $92 per barrel while Brent climbed toward $98 — a significant reversal from the $96 and $103 levels that had followed Trump's Saturday peace announcement. The Strait of Hormuz handles approximately one-fifth of global oil trade, and any renewed threat to that chokepoint feeds directly into inflation expectations and Federal Reserve rate policy.Traditional markets reflected the same risk-off impulse. The MSCI All Country World Index retreated 0.4% from a record high. A gauge of Asian shares dropped 1.7%. S&P 500 and Nasdaq 100 futures pointed lower. Hong Kong's Hang Seng fell 1.9% and Japan's Nikkei dropped 1.25%.Bitcoin and Ethereum: risk assets, not hedgesLVRG Research director Nick Ruck captured the uncomfortable truth that Thursday's session exposed. "Bitcoin and Ethereum, despite their long-term narrative as hedges, continue to behave more like high-beta risk assets during periods of uncertainty," he told Cointelegraph. "Traders are now monitoring escalation risks in the Middle East, and any effects on inflation and Fed policy as crypto liquidity quickly thins and leveraged positions get flushed out."The high-beta behavior is precisely what makes the current environment so dangerous for crypto bulls. In a genuine risk-off move driven by geopolitical escalation and inflation re-acceleration, assets that behave like leveraged equity proxies get sold first and hardest. The correlation between Bitcoin and the Nasdaq that has strengthened through 2026's institutionalization process is a tailwind when equities are rising and a headwind when they fall.What comes next: the $70,000 floorWith Bitcoin now hovering around $73,000 after a partial recovery from the $72,912 low, the $70,000 support level identified as the aggregate cost basis of the entire Bitcoin market has moved from a theoretical risk to a near-term possibility. CryptoQuant has previously identified $70,000 as the level at which unrealized profit margins compress toward zero — removing the selling incentive from short-term holders and historically marking significant support during corrections.Thursday's core PCE inflation data — the Federal Reserve's preferred inflation gauge — and Fed speeches from New York Fed President Williams and Governor Bowman remain the day's scheduled macro catalysts. A hot PCE reading in the context of renewed geopolitical escalation and oil above $90 would complete the worst possible macro combination for risk assets. A soft reading could provide the first genuine relief, but may struggle to overcome the geopolitical momentum now running in the bearish direction.Friday's $7.5 billion options expiry with Bitcoin's max pain at $75,000 provides a technical reference point — but getting from $73,000 to $75,000 by Friday's settlement now requires the market to overcome both a massive liquidation hangover and a geopolitical situation that deteriorated significantly

BlackRock's iShares Bitcoin Trust shed $527.84 million on Wednesday — its second-largest single-day net outflow since launching in January 2024, missing the all-time record of $528.3 million set on January 30 by less than half a million dollars. The near-record redemption was part of a broader institutional exodus that saw the 11 US-listed spot Bitcoin ETFs lose a combined $733.43 million in a single session, pushing total two-week outflows from the complex to more than $2 billion as Bitcoin broke below $73,000.How close Wednesday came to a record — and why it mattersThe $500,000 gap between Wednesday's IBIT outflow and its all-time record is close enough to be functionally indistinguishable. What matters is the context: the January 30 record outflow occurred during a sharp market correction that ultimately resolved and was followed by renewed institutional accumulation. Wednesday's near-record is happening in a fundamentally different environment — one where May has already flipped from accumulation to distribution, where year-to-date ETF net accumulation has thinned to approximately 4,500 BTC, and where the macro backdrop is deteriorating rather than stabilizing.IBIT holds roughly $59 billion in assets and accounts for close to 4% of Bitcoin's total circulating supply — making it the single largest vehicle for institutional Bitcoin exposure in the world. When that fund approaches its record daily outflow, the market mechanics are direct and immediate: BlackRock must sell the underlying Bitcoin to settle investor redemptions, creating real spot selling pressure that compounds the price decline and can trigger further liquidations in derivatives markets.The $1.29 billion dark pool trade that preceded the outflowWednesday's record-near outflow came one day after a separate and significant development in IBIT. On Tuesday, a single investor sold $1.29 billion of IBIT shares in a dark-pool block trade — a privately negotiated transaction that allows large players to move institutional-scale positions without revealing their hand to the broader market before execution.Dark-pool trades are not the same as net outflows. Buyers absorb the seller's volume in the negotiated transaction, and IBIT's actual net redemptions on Tuesday came to a more moderate $192.44 million. But the two events — a $1.29 billion dark-pool sale on Tuesday followed by a $527.84 million net outflow on Wednesday — together paint a picture of coordinated institutional de-risking rather than scattered retail profit-taking.The full ETF picture: $733 million out in one dayBeyond IBIT, the broader Bitcoin ETF complex showed consistent selling across multiple funds on Wednesday. Grayscale's GBTC recorded $104.76 million in outflows. Fidelity's FBTC shed $60.30 million. Four additional ETFs from Grayscale, Bitwise, and Ark and 21Shares also recorded negative flows. Morgan Stanley's MSBT remained the sole consistent exception, drawing $4.3 million in net inflows and maintaining its unbroken positive flow streak since its April 8 launch.The combined $733.43 million single-day figure represents the largest daily outflow from the Bitcoin ETF complex since January 29 — and coming alongside Bitcoin's break below $73,000, the correlation between ETF redemptions and price decline was direct. Redemptions force issuers to liquidate underlying Bitcoin, which depresses spot prices, which triggers further investor concern, which generates additional redemption requests — a feedback loop that is difficult to interrupt without a genuine positive catalyst.May flips from accumulation to distributionThe single-day numbers are significant, but the monthly trend tells the deeper story. March and April had been characterized by steady ETF accumulation that helped drive Bitcoin's recovery from $60,000 to above $82,000. May has inverted that dynamic entirely — flipping from net buying to net distribution as Bitcoin has retreated from above $82,000 on May 6 to below $73,000 now.Year-to-date ETF accumulation across the complex has thinned to a net of approximately 4,500 BTC — an almost negligible figure given the scale of the products involved and the narrative of institutional Bitcoin adoption that ETF flows had been validating through the first four months of the year. The shift from ETF accumulation driving price higher to ETF distribution accelerating price lower represents one of the most significant structural reversals in the current cycle.Tactical de-risking or deeper institutional pullback?The central question for Bitcoin's near-term outlook is whether the current outflow wave reflects tactical de-risking in response to specific and temporary geopolitical and macro catalysts — primarily the US-Iran conflict escalation and rising Treasury yields — or whether it signals a deeper shift in institutional conviction about Bitcoin allocation.The case for tactical de-risking rests on historical precedent. IBIT has gone through extended outflow streaks before during this cycle without a permanent reversal, with institutional money returning each time the macro picture cleared. The February drawdown, which produced the cycle low at $60,000, was followed by a 90-day recovery that carried Bitcoin to $83,000 — with ETF inflows resuming as the macro backdrop improved.The case for a deeper pullback rests on the scale and pace of the current selling relative to prior episodes, the fundamental shift in the Fed rate outlook from cuts to hikes, and the fact that Bitcoin has now underperformed both the S&P 500 and Nasdaq for an extended period — eroding the outperformance narrative that attracted institutional capital in the first place.Whether outflows represent tactical or structural repositioning will become clearer as the Iran situation develops ahead of the June 5 negotiating session, and as Thursday's core PCE data and Fed speeches provide the next read on the inflation and rate trajectory that is the ultimate driver of institutional risk appetite.

Monthly payment volume on crypto-linked debit and credit cards has surged approximately 230% year-over-year, reaching $7.8 billion in cumulative transactions this month — a milestone that signals digital assets, particularly stablecoins, are crossing from speculative instruments into functional everyday payment infrastructure at an accelerating pace.The data, cited by market research publication The Kobeissi Letter, shows cumulative crypto card volume has been growing steadily since 2024 with the acceleration sharply intensifying in 2026 as stablecoin-linked payment products have proliferated across both crypto-native platforms and traditional payment networks.Visa dominates with 90% market sharePayments giant Visa is capturing approximately 90% of all crypto card transactions, primarily through partnerships with onchain-native companies. Jupiter Global — the payments project launched by the team behind the Jupiter decentralized exchange on the Solana network — is among the most prominent of those partnerships, reflecting how the infrastructure connecting decentralized crypto protocols to traditional payment rails is maturing rapidly.The dominance of Visa in crypto card volume illustrates a broader theme that analysts have flagged throughout 2026: the integration of digital assets into the traditional financial system is happening through incumbent payment providers rather than displacing them. Crypto is becoming a new payment rail that runs alongside and through existing networks — not a replacement for them.Why 2026 became the breakout year for crypto cardsThe Kobeissi Letter identified stablecoin accessibility as the primary driver of the 2026 acceleration. "Crypto card adoption has rapidly accelerated in 2026 due to growing access to stablecoins as a payment rail through crypto cards. In other words, more people can now spend stablecoins like fiat by using crypto cards, further driving adoption."The stablecoin angle is critical to understanding why this growth is structurally different from prior cycles of crypto payment enthusiasm. Earlier attempts at crypto payments — spending Bitcoin or Ether directly at point of sale — faced the fundamental problem of price volatility making everyday spending impractical. Stablecoins remove that friction entirely: a dollar-denominated stablecoin spends like a dollar, settles on blockchain rails, and can be accessed through a standard Visa or Mastercard card without the merchant or consumer needing to understand anything about cryptocurrency.What people are actually buying with crypto cardsSpending data from one major crypto exchange's European card operation provides a granular picture of how crypto card adoption is playing out in practice. Grocery store purchases were the top spending category, accounting for approximately 26% of all transactions in January. Restaurants accounted for 18% of total volume. Online shopping was third at around 13%.The category breakdown is significant. Groceries, restaurants, and online shopping are not the speculative or luxury purchases that critics of crypto payment adoption have historically pointed to — they are the most routine, high-frequency spending categories in any household budget. When stablecoins are paying for weekly grocery runs and lunch, payment adoption has moved beyond early adopters into genuine mainstream utility."When crypto pays for lunch, payment adoption is real. For years, critics pointed to a lack of everyday utility as crypto's weak point: great as a speculative asset, less useful as actual money," noted the team behind the card product.Global expansion: 100 countries by year-endThe geographic footprint of stablecoin-linked payment cards is expanding rapidly. In March, Visa and Bridge — a fintech company owned by Stripe — announced plans to roll out stablecoin-linked payment cards in more than 100 countries. The initial rollout covered 18 countries including Argentina, Colombia, Ecuador, Mexico, Peru, and Chile — markets where dollar-denominated stablecoins have particular appeal given local currency volatility and limited access to traditional US dollar banking.Expansion into Asia-Pacific, Africa, and the Middle East is planned by year-end — regions where the combination of large unbanked populations, mobile-first financial infrastructure, and demand for dollar-denominated savings and payments makes stablecoin cards potentially transformative rather than merely convenient.The broader significanceThe 230% year-over-year growth in crypto card volume arrives at a moment when Bitcoin is trading near multi-month lows and sentiment sits firmly in Fear territory. The contrast between short-term price weakness and long-term adoption acceleration is a recurring feature of crypto market cycles — and the payment card data provides concrete evidence that the fundamental use case for digital assets as a medium of exchange is building steadily regardless of what the price chart is doing on any given week.Moody's awarding AAA ratings to tokenized money market funds, BlackRock filing for new tokenized fund products, and $7.8 billion in monthly crypto card volume all point toward the same conclusion: the institutionalization and real-world integration of digital assets is advancing on a timeline that is largely independent of the current macro-driven price weakness.

Nakamoto (NAKA) is trading down more than 10% on Wednesday, extending a collapse that has seen the Bitcoin treasury company lose approximately 67% of its value year-to-date and more than 99% from its May 2025 peak of $34 per share — even after completing a 1-for-40 reverse stock split last Friday designed to keep the company's shares listed on the Nasdaq exchange.The company holds 5,058 Bitcoin, ranking it as the 20th largest publicly traded Bitcoin treasury company according to Bitcoin Treasuries data. But its stock performance has dramatically underperformed both the broader Bitcoin treasury sector and the market's leading players — illustrating the growing divide between the companies that are winning the institutional Bitcoin accumulation race and those that are struggling to survive it.The reverse split that didn't fix the problemNakamoto completed a 1-for-40 reverse stock split on Friday after Nasdaq warned the company in December that its shares faced delisting following more than 30 consecutive trading days below the $1 minimum bid price requirement — a threshold that triggers automatic delisting proceedings under exchange rules.The reverse split reduced outstanding shares from approximately 696 million to around 17.4 million, mechanically lifting the per-share price above the $1 threshold. Before the split, NAKA had traded as low as $0.16 per share in April — a level that reflected the near-total destruction of shareholder value from the May 2025 peak.Reverse splits are generally treated by markets as a bearish signal rather than a recovery catalyst. They address the technical listing requirement without changing the underlying fundamentals — and Wednesday's additional 10% decline following the split confirms that the market is not treating the compliance measure as a turning point.Cointelegraph reached out to Nakamoto for comment but did not receive a response by the time of publication.How Nakamoto compares to its peersThe contrast between Nakamoto's performance and the sector's top players is stark and illustrates why Pantera Capital's consolidation thesis — that only one or two players in each Bitcoin treasury category will dominate while everyone else gets acquired or left behind — is playing out in real time.Strategy, the world's largest publicly traded Bitcoin holder with 843,738 BTC, is up approximately 2.5% year-to-date and trading around $155 per share. Its funding mechanism through STRC perpetual preferred stock has allowed it to continue accumulating Bitcoin at a pace that dramatically outstrips new supply — purchasing 171,238 BTC in 2026 alone against approximately 63,450 BTC mined during the same period.Twenty-One Capital, the second-largest publicly traded Bitcoin treasury with 43,514 BTC, is down more than 17% year-to-date but remains a functioning and well-capitalized entity trading around $7.26 per share. Strive Asset Management is actually up over 20% year-to-date, trading at approximately $17.72.Nakamoto's 99% decline from peak against Strategy's positive YTD return reflects the fundamental difference between companies that have built durable funding infrastructure for Bitcoin accumulation and those that have not. Scale, funding access, and institutional credibility have become decisive competitive advantages in a sector where the underlying asset — Bitcoin — is the same for every participant.The consolidation thesis: brutal pruning in 2026Pantera Capital's January forecast is looking increasingly prescient. "2026 will see brutal pruning. In each major asset class, only one or two players will dominate. Everyone else gets acquired or left behind," the firm's analysts wrote.The Bitcoin treasury sector that emerged rapidly in 2024 and 2025 — as companies adopted Strategy's playbook of using equity and debt issuance to accumulate Bitcoin on their balance sheets — is now experiencing the natural consolidation that follows any rapid proliferation of similar business models. Access to capital markets, management credibility, Bitcoin accumulation efficiency, and stock market liquidity create compounding advantages for the leaders that make it progressively harder for smaller players to compete.Nakamoto's situation — a company holding a meaningful amount of Bitcoin but unable to maintain its stock price above exchange listing minimums — is likely to become more common rather than less as the sector consolidates. The companies with the institutional infrastructure to keep accessing capital in difficult macro environments will continue accumulating. Those without it will face the choice between dilutive survival measures, acquisition by larger players, or eventual delisting.

Hong Kong's judiciary has announced plans to establish the Hong Kong International Commercial Court under the High Court to handle large-scale and complex international and cross-border commercial disputes. According to Foresight News, the court's rulings will be enforceable in mainland China.
The legal framework for the Hong Kong International Commercial Court is provided by the High Court Ordinance and the High Court Rules. The judiciary emphasized that the court will adopt international practices and reflect the international and cross-jurisdictional nature of cases. To enhance judicial efficiency, the court will extensively use technology, including remote hearings, electronic filing, e-bundles, and voice-to-text transcription.

According to Binance’s X post, Binance Co-Founder and Co-CEO Yi He has been recognized on Fortune Magazine’s Most Powerful Women in Business list. This recognition highlights Yi’s vision and leadership in helping shape Binance and marks the first time a crypto-native executive has been included on this iconic list — a significant milestone not only for Yi and Binance, but also for the broader crypto industry.In her reflections on the recognition, Yi emphasized that the honor is bigger than any one individual. She described it as a testament to the collective efforts of the Binance team, its users, and the wider blockchain community in moving crypto from the fringes of finance and technology into the global mainstream. For her, the moment symbolizes the industry’s ongoing transition from niche innovation to real-world infrastructure that impacts everyday life.Yi also highlighted Binance’s user-first philosophy, noting that leadership begins with understanding real customer needs. She often refers to herself as Binance’s “Chief Customer Service Officer,” underscoring the company’s culture of staying close to users and building products that solve practical problems. She pointed to real-world use cases such as cross-border remittances, where Binance Pay has helped millions of users move funds faster and more affordably, reducing friction and costs for families around the world.Beyond business growth, Yi framed Binance’s mission in terms of access and opportunity. Drawing from her own upbringing in rural Sichuan, she spoke about financial inclusion, especially for underserved communities and women who have traditionally been excluded from formal financial systems. Rather than “empowering” people from above, she stressed the importance of removing barriers so individuals can decide for themselves what kind of future they want to build.Looking ahead, Yi linked this recognition to Binance’s broader ambition: expanding from over 300 million users today toward serving 3 billion people globally. In her view, this means building not just a crypto platform, but financial infrastructure that is open, efficient, and accessible — especially for the billions of adults still outside the formal financial system. She also pointed to the intersection of AI and blockchain as a key opportunity to ensure technology-driven productivity and value creation are shared more broadly, not concentrated in the hands of a few.Taken together, Yi He’s inclusion on Fortune’s list reflects more than personal recognition. It marks a growing acknowledgment of crypto’s role in reshaping finance, broadening access, and building tools for a more inclusive global economy.

Bitcoin has clawed back to $73,300 after briefly breaking below $73,000 in early Thursday trading — a modest recovery that provides some technical relief but does little to change the underlying picture of accelerating ETF outflows, fresh US-Iran military strikes, and macro headwinds that drove the initial breakdown.The bounce from the session low brings Bitcoin back above the $73,000 level that had briefly given way, but leaves it well below the $75,000 to $76,000 support zone that analysts had identified as critical heading into the week. The $70,000 aggregate market cost basis level — flagged by CryptoQuant as the most significant structural support in the current correction — remains the key floor traders are watching.What the rebound does and doesn't tell usA recovery to $73,300 from a sub-$73,000 low is technically meaningful as a short-term relief move — particularly ahead of Friday's $7.5 billion options expiry where Bitcoin's max pain level sits at $75,000, creating some gravitational pull toward higher prices into settlement.However, the forces that drove Thursday's breakdown remain fully intact. BlackRock's IBIT posted its second-largest daily outflow since inception at $527.8 million on Wednesday. Total Bitcoin ETF outflows hit $733.4 million — the largest single-day figure since January 29. New US-Iran military strikes have reversed the weekend's de-escalation optimism. Core PCE inflation data is still due later today, with a hot reading capable of extending the selloff.The bounce should be treated as a potential dead-cat recovery rather than a confirmed reversal until ETF flows stabilize, the macro picture improves, or a genuine positive catalyst emerges to shift institutional positioning.The $75,000 options max pain level and Friday's expiry remain the most important near-term reference points for price.

Binance Alpha is listing Sealcoin (QAIT) today, May 28, 2026, with an airdrop available for eligible users immediately after trading opens.Eligible users can claim their QAIT airdrop using Binance Alpha Points on the Alpha Events page once trading goes live. Full details on the minimum points threshold, airdrop amount, claim window, and any points consumed per claim will be announced by Binance shortly.

The U.S. April Personal Consumption Expenditures (PCE) data is set to be released at 20:30 UTC+8. According to ChainCatcher, market expectations suggest that the year-on-year increase will reach a three-year high. With ongoing energy price shocks and persistent inflation in the service sector, confirmation of accelerating inflation could strongly support the Federal Reserve's return to a hawkish stance.

XRP experienced a 4% decline on Thursday, dropping from $1.34 to $1.27, falling below the $1.30 support level. According to NS3.AI, Bitcoin also fell by 4% to $72,000, while Ethereum saw a 5% decrease to $1,975. Piper Sandler has issued a warning that the Strait of Hormuz could remain closed for months, potentially driving oil prices to new highs. Recent data indicates that XRP ETF inflows slowed in May, and Bitcoin faced a significant $700 million ETF outflow this month.

Friday's options expiry is shaping up as one of the most consequential of the month. Deribit data shows $7.5 billion in notional crypto options value settling on May 29 — a significant expiry that arrives at a moment when Bitcoin is fighting to hold above $76,000 and Ethereum has just broken below $2,000 for the first time since March.The numbersBitcoin options account for $6.21 billion of the total notional value expiring Friday. The put/call ratio sits at 0.88 — meaning calls slightly outnumber puts, suggesting the options positioning leans modestly bullish in aggregate. However, the maximum pain point — the price at which the largest number of options contracts expire worthless, causing maximum financial loss to options buyers — sits at $75,000.Ethereum options account for the remaining $1.29 billion in notional value. The put/call ratio is 0.81, also modestly call-heavy. ETH's max pain point is $2,200 — well above where the asset is currently trading after breaking below $2,000 on May 28.What max pain means for price actionThe max pain theory holds that options market makers and dealers are incentivized to manage their hedges in ways that push the underlying asset toward the max pain strike at expiry — minimizing the payout they owe to options buyers. While the theory does not always play out precisely, large expiries with clearly defined max pain levels tend to create gravitational pull toward those strikes in the hours leading up to settlement.For Bitcoin, the $75,000 max pain level sits below the current price — suggesting modest downside pull heading into Friday's settlement if the max pain dynamic plays out. For Ethereum, the $2,200 max pain is significantly above current trading levels — implying upside pull toward that strike, which could provide a short-term technical bounce in ETH even within its broader downtrend.The broader contextFriday's expiry lands during one of the most volatile weeks for crypto markets in 2026. Bitcoin has been trading in a $74,000 to $77,000 range following its break below critical $75,000 to $76,000 support. Ethereum has just posted a fresh multi-month low below $2,000 with record short open interest of 16.39 million ETH worth $32.5 billion signaling continued bearish conviction.Post-expiry, the options positioning reset could either release price to move more freely in the direction of the prevailing macro trend — which currently points lower — or create conditions for a relief rally if short covering accelerates alongside the expiry-driven positioning unwind.Thursday's core PCE inflation data and Fed speeches from New York Fed President Williams and Fed Governor Bowman will likely set the macro tone heading into the expiry — making the 24 hours before Friday's settlement as information-dense as any period this week.

Polymarket has refuted claims that it plans to impose Know Your Customer (KYC) requirements on users due to compliance pressures. According to PANews, Josh Stevens, Vice President of Engineering at Polymarket, stated that the report by The Information is inaccurate. He clarified that the company is launching a new beta product, which will require some trial users to complete KYC only during the testing phase. Once the testing concludes, KYC will no longer be necessary for using the product. Stevens emphasized that no KYC requirements have been added to any part of the existing Polymarket website.

U.S. President Donald Trump has criticized Gary Gensler and his approach to cryptocurrency regulation, claiming it has nearly destroyed the U.S. crypto industry. According to Foresight News, Trump posted on Truth Social, stating that Gensler and the 'anti-crypto army' have pushed Bitcoin, crypto contracts, and innovation overseas. Trump asserted that he has saved the industry, positioning the U.S. as the global cryptocurrency capital, with builders and entrepreneurs returning to the country.Trump emphasized his commitment to establishing a digital asset market framework that will withstand future challenges and prevent crypto adversaries from destroying it. He expressed confidence in the U.S. as the emerging frontier of finance and vowed not to let cryptocurrency down.

VanEck's tokenized Treasury fund, issued by Securitize, is now available on the DeFi lending platform Euler, enabling investors to use tokenized U.S. Treasuries as onchain collateral. This development marks a significant shift as DeFi protocols adapt to accommodate institutional and regulated assets, according to CoinDesk. The move is part of a broader trend where DeFi platforms, traditionally focused on permissionless crypto assets, are redesigning to support regulated products. Standard Chartered and others project the tokenized asset market could reach trillions of dollars in the coming years.

Block's Cash App has initiated the rollout of USDC stablecoin payments to approximately 25% of its nearly 60 million users, with plans to extend access to all users by the end of the week, according to CoinDesk. This marks a significant shift for CEO Jack Dorsey, who has traditionally been a bitcoin-only advocate. The feature supports USDC on Solana, Ethereum, Polygon, and Arbitrum, with strict transaction limits and is unavailable in New York and for sponsored accounts. The integration treats stablecoins as a payment method rather than an investment tool.

China's State Council has outlined a plan to integrate blockchain technology into housing transactions and property registration by 2026, aiming to enhance urban governance through smarter and more precise management. According to ChainCatcher, the plan includes the development of a foundational platform for city information models (CIM), which will serve as a unified, data-integrated, and efficient digital base for urban areas.
The initiative also involves improving the CIM database and standard system, assigning codes to buildings and municipal facilities, and establishing a national database for housing and municipal infrastructure. Additionally, the plan seeks to strengthen a three-tiered urban operation management service platform at the national, provincial, and city levels to facilitate comprehensive urban management.

Genius Group, a publicly listed Bitcoin treasury company, has announced that its board has approved an expansion of its treasury strategy. According to Odaily, the company will introduce an AI treasury alongside its existing Bitcoin treasury, launching the AGI Infinity Portfolio. The initial investment target is set at $100 million, with a five-year goal to expand to $800 million. The first phase will allocate approximately $20 million through related funds into equity of private AI companies such as OpenAI, SpaceX, Anthropic, Figure AI, Databricks, Anduril, Replit, and Shield AI. The remaining $80 million is planned for investment in sectors including power, computing power, hyperscale cloud, advanced models, and robotics.

A whale address, believed to be linked to an early Bitcoin advocate and ShapeShift founder, has purchased 668 ETH valued at $1.35 million within the last hour. According to NS3.AI, this transaction highlights significant activity in the cryptocurrency market, drawing attention to the movements of influential investors.

BlackRock has made a substantial cryptocurrency deposit into a centralized exchange (CEX). According to BlockBeats On-chain Detection, BlackRock transferred 3,900 Bitcoin and 31,702 Ethereum to the exchange. This move highlights the ongoing interest and involvement of major financial institutions in the cryptocurrency market.

Binance Wallet announced on X that users can now access Prediction Markets through the Binance App. To navigate to this feature, users should go to the Exchange section, then select Markets, and finally choose Prediction. Additionally, users can access Prediction Markets via the Wallet section by selecting Home and then Prediction.
The Prediction Markets feature is available exclusively to users in eligible regions. Users are advised to check the Binance App to confirm availability in their specific region. This new offering allows users to engage with market predictions directly through the app, providing a streamlined experience for those interested in this type of market activity. Terms and conditions apply to the use of Prediction Markets, ensuring that users adhere to the platform's guidelines while participating in these markets.

China's State Council has released the "15th Five-Year Plan" for urban renewal, focusing on enhancing smart and precise urban governance. According to Foresight News, the plan aims to advance the digital transformation of cities by developing a foundational platform for city information models (CIM). This initiative seeks to create an integrated, data-driven, and efficient digital infrastructure for urban areas.
The plan outlines the improvement of the CIM foundational database and standard system, expanding the application scenarios of "CIM+" in urban renewal. It also includes initiatives to assign codes to buildings and municipal facilities, establishing a national database for these infrastructures. Additionally, the plan promotes the use of blockchain technology to enhance housing transactions and property registration processes.
Furthermore, the plan aims to strengthen the management service platform system at national, provincial, and city levels, facilitating a unified network for urban operations.

Hyperliquid, a prominent player in the derivatives market, has reported an annual revenue of $800 million without relying on venture capital. According to PANews, the company ranks among the top three in the industry for perpetual contract open interest. Hyperliquid's price-to-earnings ratio stands at 14, as the company evolves from a derivatives giant into a comprehensive financial services platform.

Blockaid reported that an attacker minted over 5.4 trillion vsdCRV on the Arbitrum network, allegedly through a compromised deployer key. According to NS3.AI, the attacker manipulated LayerZero-related peer configurations to create a forged cross-chain message. Subsequently, a portion of the minted tokens was converted into approximately 43.78 ETH. In response, Stake DAO issued a warning to users, while Curve and Beefy Finance implemented precautionary measures.

Strive's preferred stock SATA has reached a new milestone in Bitcoin accumulation, according to BitcoinTreasuries.NET. The stock accumulated 402 Bitcoins in a single day, marking the largest daily accumulation since its IPO. This amount represents 51% of its total Bitcoin accumulation from the previous week.

CME Group has launched 24/7 trading for Bitcoin futures and options on its Globex platform, eliminating the traditional weekend gap that occurred from Friday to Sunday, according to CoinDesk. This move aligns CME's trading hours with Bitcoin's continuous spot market, reducing weekend risk premia and improving hedging efficiency for institutional investors. Despite this structural change, liquidity remains concentrated in ETF options and offshore perpetuals, with BlackRock's IBIT ETF options holding significantly more open interest than CME's crypto options markets. Currently, three CME gaps remain unresolved, with two above Bitcoin's spot price and one below.

Bitcoin's price fluctuations could lead to substantial liquidations on major centralized exchanges (CEXs). According to ChainCatcher, data from Coinglass indicates that if Bitcoin surpasses $76,980, the cumulative liquidation of short positions on mainstream CEXs could reach $2.707 billion. Conversely, if Bitcoin falls below $69,760, the cumulative liquidation of long positions could amount to $1.24 billion.

China's State Administration for Market Regulation and the National Development and Reform Commission have jointly released the "Guidelines for AI Measurement System and Capability Building (2026 Edition)." According to Foresight News, the guidelines aim to systematically develop AI measurement capabilities.
The guidelines focus on six key areas: foundational support, general technology, core technology, measurement technical standards, measurement service industry, and intelligent empowerment measurement. They aim to bridge the gap between laboratory innovation and industry application, addressing the "last mile" challenge.
The guidelines target issues such as the "uncertainty" problem in AI, aiming to make artificial intelligence more trustworthy. They address challenges like algorithmic "black boxes" and poor decision interpretability by deploying key technological advancements in monitoring and representing AI systems' internal states. The goal is to establish reliable, safe, and trustworthy AI measurement standards, ensuring AI technology performance is "measurable, comparable, and traceable."

South Korea is evaluating tax regulations that may impose a 22% annual tax on rewards from crypto staking and lending. According to NS3.AI, a research report commissioned by the National Tax Service categorizes staking and lending as lending transactions under the Income Tax Act.

According to the announcement from Binance, significant updates have been made to the security deposits and operational requirements for merchants holding advanced badges in the Binance P2P ecosystem. These changes aim to enhance security, liquidity, and operational quality.
**Security Deposit Clarifications**
The security deposits for BLOCK and SHIELD badges are additional to the basic deposit required for the Verified Merchant badge. These deposits accumulate based on the active badges held by each merchant. For instance, in Venezuela, a Verified Merchant with a BLOCK badge will need a total deposit of 5,800 USDT, while those with BLOCK and PRO badges will require 6,800 USDT. The deposits must remain available in the Funding account associated with the corresponding KYC/KYB.
**BLOCK Badge Deposit Update**
For Venezuelan merchants, the additional security deposit for the BLOCK badge will increase from 2,500 USDT to 5,000 USDT, making the total deposit 5,800 USDT. In other LATAM countries, the BLOCK badge deposit remains at 2,500 USDT, added to the basic deposit applicable by country.
**Zone Limit Adjustments**
Effective 2026-06-01, the Block Zone limits will be recalibrated by market to reflect local operational realities. The Normal Zone upper limit will align with the Block Zone lower limit, eliminating any gap between zones. Ads not meeting the new minimum amounts may be closed automatically.
**SHIELD Badge Deposit Update**
The SHIELD badge now requires an additional security deposit of 10,000 USDT. This is in addition to the basic Verified Merchant deposit and any other deposits associated with active badges.
**Mandatory Requirements and Compliance**
To retain badges, Venezuelan BLOCK merchants and SHIELD badge holders must meet increased security deposit requirements and operational criteria, including transaction and volume thresholds. The compliance deadline is 2026-06-15. Failure to meet these requirements may result in badge loss.
**Wash Trading Notice**
Transactions in the Block Zone must not involve wash trading, where funds return to the original account. Such actions may lead to penalties, including badge loss and P2P functionality restrictions. Merchants are urged to conduct transactions with legitimate counterparties, adhering to professional standards.

Grayscale has forecasted that Ethereum (ETH), Solana (SOL), BNB Chain, and Canton Network could emerge as key beneficiaries of institutional capital as clarity around U.S. digital assets improves. According to NS3.AI, the firm highlighted that the CLARITY Act and guidelines from the U.S. Securities and Exchange Commission (SEC) are expected to bolster the growth of tokenized assets and the decentralized finance (DeFi) market.

According to CoinMarketCap data, the global cryptocurrency market cap now stands at $2.53T, down by 0.95% over the last 24 hours.Bitcoin (BTC) traded between $72,729 and $76,174 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $73,404, down by 3.19%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include XLM, ADX, and FF, up by 17%, 14%, and 12%, respectively.U.S. Strikes on Iran Sink Bitcoin Below $73K — $958M in Liquidations and $2B in Two-Week ETF Outflows Mark One of 2026's Darkest SessionsU.S. airstrikes on an Iranian military site near Hormuz obliterated the peace deal optimism from Saturday, sending Bitcoin to $72,912 and triggering $958M in liquidations — 93% from longs — as Iran retaliated against a US airbase in Kuwait, WTI jumped back above $92, and the total crypto market shed $80B in 24 hours.BlackRock's IBIT came within $500K of its all-time worst day as institutions pulled a combined $733M in a single session, flipping May's ETF trend from accumulation to distribution. Core PCE data releases today and is expected to hit a three-year high — a hot print into an active military escalation would be the worst possible macro combination for risk assets.U.S. Strikes on Iran Sink Bitcoin Below $73,000 — $958 Million in Liquidations Wipe Out Bulls in One of 2026's Worst SessionsKey Takeaways:US Central Command struck an Iranian military site near Hormuz and downed four IRGC attack drones; Iran retaliated by striking a US airbase in Kuwait with missiles and drones intercepted by air defenseBitcoin fell to $72,912 — its lowest since April 13 — before recovering to ~$73,271; ETH dropped 4.2% below $2,000; SOL -3.5%, XRP -3.6%, DOGE -3.2%$958.8M in total liquidations across 167,706 traders — $897M from longs, just $61M from shorts; Bitcoin longs led at $386M, ETH at $246M; largest single order: $15.34M BTC on HyperliquidWTI jumped 3.5% back above $92; Brent climbed toward $98 — reversing the oil price relief from Saturday's peace announcement; MSCI World retreated 0.4%, Hang Seng -1.9%, Nikkei -1.25%Trump said he is "not satisfied" with negotiations and signaled further military action — directly reversing the Saturday Truth Social peace optimismPiper Sandler warns the Strait of Hormuz could remain closed for months, potentially driving oil to new highs; next support for Bitcoin: $70,000 aggregate cost basis identified by CryptoQuantSummary:Thursday's session was a textbook geopolitical liquidation cascade — peace optimism had built up leveraged long positioning above $74,000 through the week, and the strike news cleared it almost entirely in one session. The 93% long skew on a $958M flush confirms how one-sided the positioning had become after Saturday's deal announcement. With Trump signaling dissatisfaction and Piper Sandler warning Hormuz could stay closed for months, the $70,000 aggregate cost basis is now a realistic near-term test rather than a theoretical risk. A hot PCE print today into this backdrop would be the worst possible macro sequencing.  BlackRock's Bitcoin ETF Comes Within $500,000 of Its Worst Day Ever as Institutions Pull $2 Billion in Two WeeksKey Takeaways:IBIT recorded $527.84M in net outflows on Wednesday — the second-largest single-day redemption since its January 2024 launch, missing the all-time record of $528.3M by less than $500KThe broader Bitcoin ETF complex lost $733.43M in a single session — the largest daily outflow since January 29; GBTC -$104.76M, FBTC -$60.30M; Morgan Stanley's MSBT remained the sole positive flow exception at +$4.3MTuesday also saw a $1.29B dark-pool block trade in IBIT — a privately negotiated institutional sale that preceded Wednesday's near-record redemption, painting a picture of coordinated de-risking rather than scattered retail sellingTotal two-week ETF outflows now exceed $2B; year-to-date net accumulation across all Bitcoin ETFs has thinned to approximately 4,500 BTC — almost negligible relative to the scale of the productsMay has fully inverted the March-April ETF accumulation trend that drove Bitcoin from $60K to $82K — the structural driver of Bitcoin's 2026 recovery is now running in reverseSummary:The $1.29B dark-pool sale on Tuesday followed by a near-record $527M outflow on Wednesday is coordinated institutional de-risking — not retail panic. When sophisticated large allocators pre-position in dark pools before redemptions hit, it signals deliberate portfolio repositioning rather than reactive selling. The critical question is whether this is tactical de-risking in response to specific geopolitical and macro catalysts — the pattern seen in February, which reversed into a 90-day recovery — or a deeper structural pullback as the rate cut narrative has fully inverted to hike expectations. MSBT's unbroken positive flow streak is the one data point suggesting not all institutional money is exiting. U.S. April PCE Data Anticipated to Reach Three-Year HighKey Takeaways:US April core PCE — the Fed's preferred inflation gauge — releases today at 20:30 UTC+8, with market expectations pointing to a year-on-year increase at a three-year highOngoing energy price shocks and persistent services sector inflation are the primary drivers; confirmation would strongly support the Fed's return to a hawkish stanceA hot PCE reading combined with renewed Hormuz escalation and oil back above $92 would represent the worst possible macro trifecta for risk assets heading into the weekendA softer-than-expected reading is the only scheduled catalyst capable of providing genuine relief — though geopolitical momentum may overwhelm even a positive data surpriseSummary:Core PCE releasing on the same day as an active US-Iran military exchange is the most challenging data context of the year. The Fed's preferred inflation measure hitting a three-year high while oil is jumping back toward $100 would complete the stagflation narrative — making rate hikes the only defensible Fed posture and removing the last meaningful macro tailwind for Bitcoin. Even a soft PCE surprise struggles to compete with geopolitical headlines in today's environment, but it remains the single scheduled event capable of interrupting the bearish momentum before Friday's $7.5B options expiry with max pain at $75,000.Ethereum Futures Open Interest Hits Record as Prices Drop Below $2,000Key Takeaways:Ethereum futures open interest reached an unprecedented 16.39M ETH ($32.5B) even as ETH prices fell below $2,000 for the second consecutive sessionMarkus Thielen: declining spot prices + increasing OI + negative 7-day CVD = net selling and a rise in short positions — a structurally bearish derivatives configurationRising OI into a falling price typically reflects short building rather than long accumulation — the opposite of the demand-led OI structure seen during bull movesETH at $1,975 is 57% below its all-time high; the ETH/BTC ratio recently hit a 10-month low, and Ether ETFs have recorded outflows in every session of the past weekSummary:Record ETH open interest into falling prices is a bearish derivatives signal — it means the market is building short exposure rather than accumulating long positions, which is the structural opposite of what drives sustained recoveries. The combination of negative CVD, rising shorts, ETF outflows, and a price below $2,000 creates the conditions for a short squeeze if a positive catalyst arrives — but absent that catalyst, it also means the path of least resistance remains lower. Tom Lee's thesis that oil is ETH's primary headwind points directly at today's Hormuz escalation as the variable most likely to determine whether ETH finds a floor near $1,975 or breaks toward the next major demand zone.XRP Drops 4% as Bitcoin and Ethereum Also Decline Amid ETF OutflowsKey Takeaways:XRP fell 4% from $1.34 to $1.27, breaking below the $1.30 support level; Bitcoin dropped 4% to $72,000; Ethereum fell 5% to $1,975Piper Sandler issued a warning that the Strait of Hormuz could remain closed for months — a scenario that would drive oil to new highs and extend the inflationary pressure weighing on all risk assetsXRP ETF inflows slowed significantly in May; Bitcoin ETFs faced $700M+ in outflows this month ahead of Thursday's additional $733M single-day redemptionXRP had shown relative resilience earlier in May on CLARITY Act tailwinds — Thursday's broad selloff erased that outperformance as geopolitical risk overwhelmed token-specific narrativesSummary:Piper Sandler's Hormuz closure warning extending months is the most bearish near-term macro scenario for crypto — it would mean sustained oil above $100, a Fed locked into hikes rather than holds, and no geopolitical relief until at least Q3 2026. For XRP specifically, the CLARITY Act catalyst that drove relative outperformance in early May has been fully overwhelmed by macro forces too large for any token-specific narrative to resist. The broader message from Thursday is that in a genuine risk-off escalation, token-level differentiators become irrelevant — every asset trades as a risk-off proxy until the macro picture clears. Market movers:ETH: $1991.19 (-4.34%)BNB: $633.2 (-3.14%)XRP: $1.2917 (-2.92%)SOL: $81.17 (-3.00%)TRX: $0.3554 (-4.87%)DOGE: $0.0987 (-3.10%)U: $1.0013 (+0.00%)WBTC: $73217.15 (-3.17%)XAUT: $4393.89 (-2.00%)ZEC: $530.36 (-6.19%)

Bitcoin is experiencing increased sell pressure as it flows into exchanges while stablecoins are exiting at a record pace, according to crypto analyst Axel Adler Jr. According to ChainCatcher, Adler noted that this simultaneous movement signals a "risk-averse" market environment. Data shows that the 30-day net inflow of Bitcoin to exchanges has shifted from an extreme net outflow of 300,000 BTC at the end of March to an inflow of 103,000 BTC, indicating a readiness to sell. During the same period, Bitcoin's price dropped from $80,000 to $73,700.
Meanwhile, stablecoins are leaving centralized exchanges at an unprecedented rate. The 30-day average net flow of stablecoins has changed from an inflow of $164 million per day at the end of April to an outflow of $153 million per day. This suggests a decrease in liquidity available for purchasing Bitcoin. Adler highlighted that when Bitcoin flows into exchanges while stablecoins flow out, it creates an unfavorable structure of "increased supply and decreased demand," typical of a risk-averse market.
Adler believes that if Bitcoin's net inflow continues to exceed 100,000 BTC, the market may face a deeper correction. Stabilizing signals would include Bitcoin returning to a net outflow or stablecoins flowing back into exchanges.

Ethereum has dropped below $2,000 for the first time since March 29, according to ChainCatcher. Market research firm Santiment noted that this decline has triggered a typical retail investor reaction. Instead of fear, uncertainty, and doubt (FUD), many retail investors are viewing the drop as a 'discount buying opportunity,' leading to a fear of missing out (FOMO) sentiment.
Santiment warns that this optimistic sentiment among retail investors could indicate further downside potential for Ethereum's price. Historically, the broader market often misjudges such situations. The firm suggests that a more favorable buying opportunity might arise when the current FOMO subsides and market sentiment shifts towards panic.

According to Odaily, in the Predict.fun event for the '2026 World Cup Champion,' Spain has overtaken France with an 18% probability of winning, placing it in the lead. France follows with a 17% chance, while England has a 12% probability. Portugal has surpassed Argentina and Brazil, reaching an 11% chance of winning. As of now, the total transaction volume for the '2026 World Cup Champion' event on Predict.fun has exceeded $250 million.
The 2026 World Cup is set to commence at 3 a.m. on June 12, Beijing time (UTC+8). This tournament will be jointly hosted by the United States, Mexico, and Canada, marking the first time in history that three countries will co-host the World Cup. The number of participating teams has expanded to 48.

Vitalik Buterin has emphasized the significance of Interfold, a concept he has advocated for nearly a decade. According to Foresight News, Interfold represents the realization of Buterin's ideas around MACI (Minimal Anti-Collusion Infrastructure) in a universal form. The core concept involves a privacy protocol optimized for scenarios like voting. This mechanism generates a threshold encryption key, allowing users to submit votes on-chain and prove their voting eligibility using zero-knowledge proofs (ZKP). The voting results are computed within a fully homomorphic encryption (FHE) framework and decrypted using the threshold key.

Caesars Entertainment has reached an agreement to be acquired by Fertitta Entertainment in an all-cash transaction valued at $5.7 billion, excluding debt. Wall Street Journal (Markets) posted on X that this acquisition marks a significant move in the entertainment and hospitality industry. The deal is expected to enhance Fertitta Entertainment's portfolio, which already includes a range of casinos, hotels, and restaurants. The acquisition is subject to regulatory approvals and customary closing conditions. Both companies anticipate that the transaction will close by the end of the year, pending these approvals. This strategic acquisition is seen as a step towards expanding Fertitta Entertainment's influence in the market, potentially leading to new opportunities and growth within the sector.

Russian Foreign Ministry spokesperson Maria Zakharova has expressed concerns over the joint military exercises conducted by the United States and Japan. According to Odaily, Zakharova stated that the missile systems deployed by the U.S. in Japan pose a threat to Russia's eastern borders.

Prediction market platforms like Kalshi and Polymarket are leveraging meme culture, humorous memes, and gamified designs to engage younger users. According to Odaily, these platforms enhance user engagement through features like leaderboards, badges, and interactive comments, while setting a minimum participation age of 18, which is lower than the legal gambling age of 21 in most U.S. states. Currently, only a few top users on Polymarket are profitable, with approximately 69% of users experiencing losses. Experts caution that young users may be susceptible to developing a dependency on high-risk investments due to cognitive development factors. U.S. Senators Katie Britt and Richard Blumenthal have proposed legislation to limit minors' exposure to prediction market advertisements.

According to PANews, privacy coins, exchange tokens, and AI projects have recently become focal points in the market. These sectors are drawing significant interest and attention from investors and industry participants.