The global cryptocurrency market cap now stands at $2.59T, up by 0.39% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $76,892 and $78,200 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $77,920, up by 0.54%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include PROVE, EDEN, and MITO, up by 71%, 47%, and 33%, respectively.SpaceX Files for IPO as Prediction Markets and Crypto Derivatives Collide with Traditional FinanceSpaceX has filed its S-1 registration with the SEC, setting the stage for one of the most-watched public listings of the decade. Meanwhile, Polymarket self-certified sports parlays with the CFTC—combinatorial outcome contracts that mirror traditional parlay mechanics—and the SEC is formally exploring prediction market ETFs, which have tripled in assets over seven years. From private space companies listing publicly to prediction markets graduating into regulated fund wrappers, the boundary between speculative crypto-native platforms and traditional capital markets continues to collapse.Top stories of the day:Nvidia Q1 Revenue Hits $81.6B, Lifting Bitcoin Miners Tied to AI Data CentersKey Takeaways:Nvidia Q1 revenue surges 85% to $81.62 billion$91B Q2 guidance, $80B buyback, dividend hikeBitcoin miners with AI pivot edge higherSummary:Nvidia reported first-quarter revenue of $81.62 billion, up 85% year-over-year and above Wall Street's $78.9 billion estimate, with adjusted earnings per share of $1.87 beating the consensus of $1.76. The chipmaker issued $91 billion in current-quarter revenue guidance, authorized an additional $80 billion in stock buybacks, and raised its quarterly dividend from 1 cent to 25 cents. Data Center revenue reached $75 billion—with hyperscalers contributing $38 billion, up 12% sequentially—while AI cloud revenue more than tripled from a year earlier. Bitcoin miners with AI infrastructure exposure, including Core Scientific and Cipher Mining, traded modestly higher in after-hours trading as Nvidia's results reinforced demand for data center capacity tied to high-performance computing.NCA Reports 67M Americans Own Crypto as CLARITY Act Advances Key Takeaways:67M U.S. adults hold digital assets, up 12M YoYSenate Banking Committee advances CLARITY Act 15-9Women drive 42% of new adoption, over-55s top Gen ZSummary:A new report from the National Cryptocurrency Association, conducted with The Harris Poll, found that 67 million American adults—roughly 1 in 4—now own crypto, an increase of about 12 million holders in one year. About 90% of holders earn under $500,000 annually, women account for 42% of new adopters, and Americans over 55 have slightly overtaken Gen Z in ownership rates, with California leading at 9.5 million and Texas at 5.94 million owners. Separately, the CLARITY Act cleared the Senate Banking Committee by a 15-9 vote, signaling bipartisan momentum toward a federal regulatory framework for digital assets. The twin developments underscore crypto's shift into mainstream retail finance and the growing legislative recognition that a broad, politically relevant user base warrants clearer consumer protections and market rules.U.S. Bipartisan Lawmakers Revive Parity Act, Direct IRS to Study De Minimis Crypto Tax Exemption Key Takeaways:IRS directed to study sub-$200 crypto transaction exemptionStablecoins, wash sales, staking rewards also addressedBipartisan House bill builds path to everyday crypto useSummary:A bipartisan group of U.S. House lawmakers led by Reps. Steven Horsford (D-NV) and Max Miller (R-OH) has revived the PARITY Act, directing the IRS to study the feasibility of a de minimis tax exemption for crypto transactions under $200, including analysis of compliance costs, revenue impact, and technical infrastructure needs. The bill also proposes near-cash tax treatment for regulated payment stablecoins where the holder's basis is at least 99% of redemption value, a safe harbor for individual traders and self-custody users, wash sale rule clarification for digital assets, and guidance on taxing validator and staking rewards. The legislation does not immediately enact an exemption but aims to build an official evidentiary record for modernizing crypto tax rules, potentially paving the way for simpler everyday transactions without disproportionate capital gains record-keeping burdens.SpaceX Files S-1 Registration Statement with SEC Key Takeaways:S-1 filed publicly May 20, Nasdaq listing planned$18.7B revenue, $4.94B net loss on AI spendingMusk retains ~79% voting power via dual-class sharesSummary:SpaceX publicly filed its S-1 registration statement with the SEC on May 20, 2026, setting the stage for one of the most anticipated IPOs in recent years, with a potential roadshow around June 4 and first trading as early as June 12. The filing disclosed $18.7 billion in full-year 2025 revenue against a net loss of $4.94 billion, driven largely by heavy AI-related spending following the acquisition of xAI, along with a performance-based compensation structure for CEO Elon Musk. Under the dual-class share structure, Musk would retain approximately 79% of voting power through super-voting Class B shares while holding roughly 42% of the economic interest, drawing a joint letter from the NYC Comptroller, NYS Comptroller, and CalPERS urging one-share-one-vote reforms, a board sunset provision, and removal of mandatory arbitration clauses for shareholder claims.Fed Proposes 'Skinny' Master Accounts, Opening Payment Rails to Crypto Firms Key Takeaways:Limited-purpose Fed payment accountsNo intraday credit or discount windowCrypto firms gain direct Fedwire accessSummary:The Federal Reserve has released a formal proposal to create "payment accounts"—widely called "skinny" master accounts—that would allow fintech and cryptocurrency firms direct access to Fed payment rails including Fedwire and FedNow. These limited-purpose accounts provide settlement capabilities but explicitly exclude intraday credit, discount window access, and interest on balances, while requiring strict AML, BSA, and sanctions compliance. The proposal follows a Trump executive order urging agencies to expand financial infrastructure access for nonbank institutions, and builds on the precedent of Kraken's one-year limited-purpose Fed account. Fed Governor Michael Barr has voiced opposition over insufficient AML safeguards, signaling internal debate before any final rule takes shape.Polymarket to List Parlays as SEC Explores Prediction Market ETFsKey Takeaways:Polymarket self-certifies sports parlays with CFTCAll-or-nothing combinatorial outcome contractsSEC opens public input on prediction-market ETFsSummary:Polymarket has filed a self-certification with the CFTC to list "combinatorial outcome contracts"—essentially sports parlays in prediction-market form—on U.S. sports events, with listing permitted no earlier than May 21, 2026. These contracts combine two or more underlying event contracts and pay $1.00 only if every leg settles correctly, settling at $0.00 if any single leg fails, mirroring traditional sports parlay mechanics without requiring explicit CFTC approval. Concurrently, the SEC is seeking public input on how to treat event-contract ETFs, signaling growing regulatory focus on the intersection of prediction markets and securities as ETFs have roughly tripled in assets over the past seven years. The dual-track regulatory push—CFTC overseeing the derivatives side and the SEC evaluating fund wrappers—comes as Congress reviews prediction markets more broadly, though no concrete legislation has been introduced.Market movers:ETH: $2,128.61 (+0.2%)BNB: $653.51 (+1.38%)XRP: $1.3717 (+0.01%)SOL: $86.57 (+1.81%)TRX: $0.3618 (+1.15%)DOGE: $0.10513 (+1.17%)ZEC: $665.09 (+12.97%)WBTC: $77,427.42 (+0.06%)U: $1.0007 (-0.01%)XAUT: $4,523.13 (+0.67%)