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On May 16, 2026, 09:18 AM(UTC). According to Binance Market Data, Bitcoin has dropped below 78,000 USDT and is now trading at 77,949.992188 USDT, with a narrowed 3.22% decrease in 24 hours.

Bitcoin slid to near $78,000 in Asian morning hours on Saturday, erasing all gains from the past week as a global bond market rout, back-to-back hot inflation prints, and rising oil prices combined to trigger the most severe crypto liquidation event in weeks. More than $580 million in positions were wiped out over 24 hours, with 95% of the damage hitting leveraged long bets — a one-sided flush that exposed just how heavily the market had been positioned for upside that did not arrive.
The liquidation cascade: $581 million, 95% longs
CoinGlass data showed $581 million in total liquidations over 24 hours, with $552 million coming from long positions and just $28 million from shorts. Bitcoin led individual asset liquidations at $189 million, followed by Ether at $151 million. The largest single liquidation order was a $21.59 million BTCUSDT position on Bitget.
A 95% long skew on a $581 million flush is the signature of a market caught leaning heavily in one direction when the move goes the other way. Leverage had been building on the bullish side through the week as traders positioned for a break above the 200-day moving average at $82,000 — a level that never gave way — and the unwind was correspondingly one-sided when the macro backdrop deteriorated sharply.
Price action: Bitcoin reverses a week of gains in 24 hours
Bitcoin dropped 3.2% over 24 hours to near $78,000, reversing all gains from the past seven days during which it had briefly traded above $82,000 following the Senate Banking Committee's advancement of the CLARITY Act. The legislative tailwind proved no match for a global bond market repricing that moved faster and with more force than any single crypto catalyst could offset.
Across the major tokens, losses were broad and deep. Solana fell 5% to $86.98, now down 7% over seven days. XRP slid 4.3% to $1.41, giving back most of Thursday's CLARITY Act-driven gains. Ether dropped 3.3% to $2,189, with its weekly decline widening to 5.3% — the worst performance among the majors. Dogecoin slipped 4.2% to $0.1095. BNB held up comparatively well, down 3.9% on the day but still up 1.1% over the prior seven days — continuing its pattern of relative resilience during broad market weakness.
What triggered the move: a global bond market rout
The catalyst was a simultaneous deterioration in bond markets across multiple major economies. US 10-year Treasury yields topped 4.5%, extending the week's sharp climb. Japan's 30-year debt hit 4% for the first time on record. UK long-bond rates touched a 28-year high. The dollar extended its weekly gain. Brent crude settled above $105, driven by the ongoing closure of the Strait of Hormuz — which handles one-fifth of global oil trade — and continued escalation in the US-Iran conflict.
Traditional markets reflected the same pressure. The S&P 500 fell 1.2% in its worst session since March, with the Philadelphia Semiconductor Index dropping 4% after weeks of leading the equity rally — a particularly significant reversal given that semiconductor strength had been one of the primary narratives supporting both equity and crypto risk appetite since April.
The inflation throughline
The common thread running through every element of Saturday's selloff is inflation. Back-to-back hot CPI and PPI prints earlier in the week — CPI rising 3.8% year-over-year and PPI posting its largest annual increase since 2022 — established that price pressures are re-accelerating rather than stabilizing. Oil above $105, driven by geopolitical supply disruption rather than demand growth, feeds directly into both headline inflation and consumer costs in ways that are difficult for central banks to look through.
The cumulative effect has been a dramatic and rapid repricing of Federal Reserve expectations. Traders have shifted from pricing in rate cuts through 2026 to assigning nearly 50% odds of at least one rate hike by year-end — a complete reversal from the prevailing consensus of just two weeks ago. Crypto, which had been pricing in liquidity easing through 2026 as a core part of its bull thesis, is now repricing the opposite scenario in real time.
What comes next
The critical question heading into the following week is whether the inflation and bond yield trajectory stabilizes or continues to accelerate. If oil remains above $100 and bond yields keep climbing, the Fed rate hike narrative will gain further traction — removing the macro tailwind that has underpinned Bitcoin's recovery from its April lows.
Bitcoin's near-term support sits around $78,000 to $79,000, with CryptoQuant having previously identified $70,000 — the aggregate cost basis of the market — as the deeper support level if the current weakness extends. A recovery back above $82,000 and the 200-day moving average would require either a reversal in bond yields or a fresh crypto-specific catalyst strong enough to overcome the macro headwind — neither of which appears imminent heading into the weekend.

Spot Bitcoin ETFs shed $1 billion in net outflows last week, snapping a six-week inflow streak that had attracted a combined $3.4 billion and marking one of the sharpest weekly reversals in fund flows since the products launched. The turnaround reflects a deteriorating macro backdrop — hot inflation data, surging bond yields, and rapidly repriced Federal Reserve expectations — that overwhelmed the positive momentum built through April and early May.
How the week unfolded: a cautious start, then a cascade
The week opened with modest optimism. Monday posted $27.29 million in net inflows, suggesting the prior week's macro concerns had not yet translated into sustained institutional selling. That changed sharply on Tuesday, when $233.25 million exited the funds — the first significant outflow of the week and a sign that the inflation narrative was beginning to bite.
Wednesday was the worst single session, with $635.23 million in outflows representing one of the largest single-day redemptions the Bitcoin ETF complex has seen. Thursday offered a brief reprieve, with $131.31 million in inflows providing a momentary reversal. But Friday erased that recovery entirely, with a further $290.42 million in outflows sealing the week at exactly $1 billion in net redemptions.
The daily flow pattern mirrors the macro news cycle precisely. Wednesday's record single-day outflows coincided with the PPI reading that showed producer prices rising at their highest annual rate since 2022. Friday's selling followed the global bond market rout that pushed US 10-year Treasury yields above 4.5% and triggered Bitcoin's slide to near $78,000.
Where the six-week streak stood before the reversal
The $1 billion weekly outflow lands in stark contrast to what preceded it. The six-week inflow streak that just ended had attracted $3.4 billion in cumulative net inflows, with the week of April 17 standing out as the strongest individual week at $996.38 million. Total net assets across all spot Bitcoin ETF products now sit at $104.29 billion, with cumulative net inflows since launch at $58.34 billion — figures that underscore how much institutional capital has entered the space even as weekly flows have turned negative.
Where capital is rotating: AI stocks and crypto regulation plays
Analysts at Bitunix noted in a recent note that capital is aggressively rotating toward both the AI growth narrative and institutionalization plays within crypto itself. NVIDIA, Google, and Apple pushed toward fresh all-time highs last week, while AI chipmaker Cerebras surged more than 70% intraday on its IPO debut — drawing risk capital that might otherwise have flowed into Bitcoin ETFs.
On the crypto side, the CLARITY Act's advancement through the Senate Banking Committee created a different kind of rotation within the asset class. Coinbase shares rallied sharply following the vote as markets priced in the regulatory progress, and Bitcoin climbed back toward $82,000 on Thursday before Friday's macro selloff reversed those gains. The pattern suggests that within crypto, capital is rotating toward regulatory beneficiaries and infrastructure plays rather than pure Bitcoin spot exposure through ETFs.
Bitunix flagged the resulting price structure as a market on edge. Heavy short liquidity sits clustered between $82,400 and $82,600, with $80,000 as the key support level. "Current price action suggests the market has clearly entered a high-leverage volatility structure, as capital waits for further direction from the three dominant macro themes: AI expansion, US-China relations, and crypto regulation," the firm wrote.
Ether ETFs: five consecutive days of outflows
Spot Ether ETFs fared even worse, recording outflows across all five trading sessions last week without a single positive day. Tuesday was the worst session at $130.62 million, followed by $65.65 million on Friday, $36.30 million on Wednesday, $16.89 million on Monday, and $5.65 million on Thursday. The five-day streak totaled $254.46 million in net outflows, pulling total net assets in Ether ETF products down to $12.93 billion by week's end.
The consistent daily outflows in Ether ETFs — with no interruption across the full trading week — reinforce the broader picture of institutional risk reduction rather than selective asset rotation. When both Bitcoin and Ether ETF products see sustained outflows simultaneously, it points to a macro-driven de-risking rather than a reallocation within crypto.
What the outflows signal heading into next week
The $1 billion weekly outflow is significant but not yet catastrophic in the context of $104 billion in total net assets. The more important signal is the directional shift — from six consecutive weeks of institutional buying to a week of broad-based redemptions — which reflects how quickly the macro narrative changed following this week's inflation data.
The path back to sustained inflows likely requires one of two developments: either inflation data stabilizes and bond yields retreat, relieving pressure on risk assets broadly, or the CLARITY Act makes further legislative progress that provides a crypto-specific catalyst strong enough to pull institutional capital back in despite the macro headwind. Neither condition appears imminent heading into the weekend.

AI jailbreaking, which involves using prompts or poisoned data to bypass chatbot safety measures, has been a growing concern. According to NS3.AI, researchers from Anthropic discovered that Best-of-N attacks successfully deceived GPT-4o 89% of the time. Pliny the Liberator is a prominent figure in this field. Research indicates that as few as 250 poisoned documents can compromise models with up to 13 billion parameters.

Berkshire Hathaway has released its first-quarter holdings report, revealing notable adjustments in its investment portfolio. According to Jin10, the company increased its stake in Alphabet (GOOGL.O) and The New York Times, with Alphabet seeing an addition of over 36 million shares, raising its holding from 2.04% to 5.93%. Conversely, Berkshire completely exited its positions in Amazon (AMZN.O), Visa (V.N), Mastercard (MA.N), and UnitedHealth (UNH.N). The company also reduced its holdings in Chevron (CVX.N) and Bank of America (BAC.N).
Additionally, Berkshire initiated a new position in Delta Air Lines (DAL.N), purchasing 39.8 million shares valued at approximately $2.65 billion. Overall, the market value of Berkshire's U.S. stock holdings stood at $26.3 billion by the end of the first quarter, down from $27.4 billion in the previous quarter. During the quarter, Berkshire bought stocks worth about $16 billion and sold approximately $24 billion, resulting in a net sale of around $8.15 billion. The number of holdings decreased sharply from 42 to 29, indicating a significant increase in portfolio concentration.

According to ChainCatcher, reports suggest that the U.S. and Israel may resume strikes on Iran as early as next week, stirring expectations of interest rate hikes in the bond market. The final meeting minutes of the 'Powell Era' are also anticipated. Here are the key events to watch next week (all times in UTC+8):
On Tuesday at 9:30, the Reserve Bank of Australia will release the minutes of its May monetary policy meeting. Later at 20:00, Fed Governor Christopher Waller will speak at a European Central Bank research conference. At 20:15, the weekly change in ADP employment numbers up to May 2 will be announced.
On Wednesday at 7:00, Anna Paulson, the 2026 FOMC voting member and President of the Philadelphia Fed, will deliver a speech.
On Thursday at 2:00, the Federal Reserve will release its monetary policy meeting minutes. At 20:00, Philip Lane, Chief Economist of the European Central Bank, will speak at the ECB research conference.
The current AI boom and consumer spending under inflationary pressure are two major factors influencing U.S. stock market trends. Next week, semiconductor giant Nvidia (NVDA) and retail company Walmart (WMT) are set to release their earnings reports. Nvidia will announce its earnings after the U.S. market closes on Wednesday, while Walmart will release its report before the market opens on Thursday.

XRP jumped 5% and briefly broke above $1.50 on Thursday after the Senate Banking Committee advanced the Digital Asset Market Clarity Act in a 15-9 vote — outperforming Bitcoin and Ether, which each gained less than 3% for the week. The move revived one of crypto's most durable narratives: that regulatory clarity could unlock a wave of institutional capital into XRP products that years of legal uncertainty had kept on the sidelines.
But the committee vote is one step in a long process. The full bull run that XRP traders have been anticipating still needs Congress to finish what it started.
Why XRP reacted most to a broad industry bill
Few major crypto assets have been as directly shaped by US regulatory uncertainty as XRP. The SEC's lawsuit against Ripple in December 2020 triggered exchange suspensions, institutional hesitation, and years of legal ambiguity around whether XRP could trade freely in US markets. A 2023 ruling by Judge Analisa Torres helped clear secondary-market XRP trading from being classified as securities transactions — a partial victory that allowed XRP to recover meaningfully — but it left open the question that large institutional allocators care most about: federal legislation that is harder for a future regulator to reinterpret.
The CLARITY Act addresses that directly. The bill would place digital assets under a defined market-structure regime, giving institutions a cleaner framework for custody, trading, market making, and ETF allocation. For XRP specifically, that framework removes the last significant legal friction point preventing large allocators from building meaningful positions through regulated vehicles.
Ripple CEO Brad Garlinghouse called the committee vote "the moment" in a post on X, writing that the industry deserves "the same rules and protections as every other asset class."
What the bill still needs to become law
The Senate Banking Committee's 15-9 vote is a meaningful procedural milestone, but several hurdles remain before the CLARITY Act becomes the legal clarity the market is pricing. The Senate Banking Committee version must first be merged with the Agriculture Committee version of the bill. The combined legislation then needs to pass a full Senate vote, survive House reconciliation, and reach the president's desk for signature.
Senator Cynthia Lummis has said lawmakers have reached agreement on most of the bill's substance. Senator Elizabeth Warren has objected to parts of the process. The Memorial Day recess creates a practical near-term deadline for the current legislative push — progress needs to be made before the recess or momentum risks stalling into the summer.
XRP's fundamental case: tokenization, DeFi, and ETF inflows
The regulatory catalyst is landing against a backdrop of genuine fundamental progress on the XRP Ledger that gives institutional optimism something concrete to point to.
Tokenized real-world assets on the XRP Ledger have crossed $3 billion, placing it among the leading non-Ethereum networks for institutional tokenization. Last week, a Ripple-JPMorgan-Mastercard-Ondo Finance pilot processed a tokenized US Treasury redemption in under five seconds — demonstrating that the chain can bridge public blockchain rails with traditional interbank settlement at the speed institutions require. Ripple also recently closed a $200 million debt facility for its Ripple Prime brokerage platform, signaling continued expansion of its institutional services infrastructure.
The broader DeFi ecosystem built around XRP through bridged representations has grown to over $560 million in combined value locked. US-listed spot XRP ETFs drew $25.8 million in net inflows earlier this week — their largest single-day haul since early January — bringing cumulative inflows to $1.35 billion.
Alexis Sirkia, early Ripple and Ethereum market maker and current head of decentralized clearing firm Yellow Network, framed the longer-term significance of these developments. "The real story of XRP in mid-2026 will not be its consolidating price, but the quiet, almost imperceptible rewiring of global finance," he told CoinDesk. "With legal clouds lifted and institutional capital proving remarkably sticky, the XRP Ledger is transforming into a compliance-grade tokenization and settlement layer, speaking the precise language that institutional capital does."
The level that matters: $1.50
Despite the week's gains, XRP remains well below its 2025 highs, and the $1.50 area continues to act as the resistance level bulls need to decisively reclaim and hold. The committee vote gave XRP enough momentum to push briefly above that level, but Friday's broad market selloff — triggered by surging bond yields and the fastest repricing of Fed rate expectations in years — pulled it back below the key zone.
The technical picture reflects the broader narrative precisely. XRP has the catalysts, the fundamental momentum, and now a concrete legislative step in its favor. What it does not yet have is the full legal clarity that would remove the last layer of institutional hesitation and drive the kind of sustained, deep-pocketed inflows that could push it back toward and beyond its prior highs.
The committee vote gave XRP a catalyst. Full legal clarity remains the trade.

Grayscale has submitted an amended filing to the U.S. Securities and Exchange Commission (SEC) for a spot BNB exchange-traded fund (ETF). According to NS3.AI, Bloomberg ETF analyst James Seyffart noted that the submission involved revisions to the product's S-1 application.

PANews posted on X (formerly Twitter). In the upcoming week, several key events are expected to capture market attention. On Monday, the G7 finance ministers and central bank governors will convene until May 19. On Tuesday at 20:00, Fed Governor Christopher Waller is scheduled to speak at a European Central Bank research conference. Additionally, the weekly change in U.S. ADP employment numbers for the week ending May 2 will be released at 20:15.
On Wednesday at 7:00, Anna Paulson, the 2026 FOMC voting member and President of the Philadelphia Fed, will deliver a speech. The Federal Reserve will release the minutes of its monetary policy meeting on Thursday at 2:00. Later that day, at 20:30, data on U.S. initial jobless claims for the week ending April 18, April's annualized new housing starts, building permits, and the May Philadelphia Fed Manufacturing Index will be announced.
On Friday at 22:00, the final figures for the University of Michigan's May consumer sentiment index, one-year inflation expectations, and the U.S. Conference Board's leading indicators for April will be published.
Reports suggest that the U.S. and Israel may resume strikes on Iran as early as next week, posing a significant risk to gold bulls. Meanwhile, bond market expectations for interest rate hikes are intensifying, coinciding with the release of the last meeting minutes from the "Powell era." Additionally, the AI boom and consumer spending under inflationary pressure are the two main factors influencing U.S. stock market trends. Next week, semiconductor giant Nvidia (NVDA) and several retail companies, including Walmart (WMT), will release their earnings reports, prompting in-depth analysis around these two core themes.

SpaceX is expected to finalize its initial public offering (IPO) price on June 11, according to Odaily. The company's shares are scheduled to begin trading on June 12. SpaceX has chosen Nasdaq as the venue for its IPO, and the stock will trade under the ticker symbol 'SPCX.'

A group of victims who lost their life savings in the collapse of FTX have filed a lawsuit against Silicon Valley law firm Fenwick & West LLP, seeking $525 million in damages. According to ChainCatcher, Bloomberg Law reported that the plaintiffs accuse the firm of being aware of FTX's breach of fiduciary duty and misappropriation of billions in customer assets, yet still assisting in the establishment of shell companies and implementing communication controls to conceal evidence. FTX founder Sam Bankman-Fried was arrested following the exchange's collapse in 2022 and has been convicted on seven counts of fraud and money laundering, resulting in a 25-year prison sentence.

On May 16, 2026, 07:13 AM(UTC). According to Binance Market Data, Ethereum has dropped below 2,200 USDT and is now trading at 2,193.419922 USDT, with a narrowed 2.92% decrease in 24 hours.

On May 16, 2026, 07:06 AM(UTC). According to Binance Market Data, BNB has dropped below 660 USDT and is now trading at 659.559998 USDT, with a narrowed 3.50% decrease in 24 hours.

U.S. inflation data has surged over the past week, driven by rising energy prices due to the ongoing conflict in Iran, according to PANews. Several key indicators have reached multi-year highs. Traders have largely dismissed the possibility of a Federal Reserve rate cut this year, while expectations for a rate hike have increased. In the coming week, the minutes from the Federal Reserve's most recent meeting will be closely watched for signs of strengthening rate hike signals. Additionally, uncertainty in the Middle East continues to cast a shadow over global markets.

This week's analysis covers significant developments in macro markets, AI, stablecoins, DeFi, and Ethereum. According to NS3.AI, the highlighted topics include the 'NACHO' Hormuz trade thesis, which explores potential impacts on global trade routes. Additionally, the CLARITY Act is examined for its possible effects on stablecoin yield flows, potentially influencing investor strategies. Grayscale's proposal to alter Ethereum's staking reward model is also discussed, which could have implications for the network's future operations and investor returns.

Crypto analyst Michael van de Poppe has stated that Bitcoin's bear market concluded at $60,000 in February. According to NS3.AI, van de Poppe believes the overall trend for Bitcoin remains bullish. He noted that Bitcoin typically rallies to its 50-week moving average following the end of a bear market, estimating this level to be around $93,000.

Intesa Sanpaolo has significantly increased its exposure to cryptocurrencies, reaching approximately $235 million in the first quarter. According to NS3.AI, this marks a substantial rise from around $100 million in the fourth quarter of 2025. By March 31, the bank had expanded its Bitcoin holdings and, for the first time, added Ethereum exposure through the iShares Staked Ethereum Trust. Additionally, Intesa Sanpaolo opened an XRP position valued at about $18 million via the Grayscale XRP Trust, while reducing its Solana exposure through the Bitwise Solana Staking ETF.

OpenAI has entered into a partnership with Malta to provide ChatGPT Plus services to all citizens. According to Jin10, this collaboration aims to enhance access to advanced AI tools for the Maltese population. The initiative reflects OpenAI's ongoing efforts to expand the reach of its AI technologies globally.

Bitcoin fell sharply on Friday as a surge in government bond yields triggered broad-based selling across equities, commodities, and crypto, with traders rapidly repricing Federal Reserve expectations from rate cuts to potential rate hikes in a matter of days. The selloff extended well beyond digital assets, with stocks, gold, and crypto-linked equities all declining simultaneously as markets grappled with the prospect of central banks returning to tightening mode.
Bitcoin drops to $78,600 before stabilizing
Bitcoin fell as low as $78,600 during Friday's US session — down roughly 4% from Thursday's high of $82,000 — before stabilizing slightly above $79,000, still lower by approximately 2.2% over the prior 24 hours. The drop erased the gains that had followed the Senate Banking Committee's advancement of the CLARITY Act on Thursday, a development that had briefly pushed Bitcoin back toward the critical $82,000 resistance zone before the bond market reaction overwhelmed the legislative tailwind.
The catalyst: a global bond market rout
The trigger for Friday's selloff was a sharp rise in government bond yields across major economies. The US 10-year Treasury yield climbed to 4.58% — its highest level in more than a year — as investors priced in a more aggressive Federal Reserve path in response to resurgent inflation. UK 10-year gilt yields surged to 5.2%, their highest level since 2008, signaling that the tightening concern is not confined to the United States but reflects a broader repricing of global rate expectations.
Oil added further inflationary pressure. WTI crude oil front-end futures jumped 3% to cross $100 per barrel, reinforcing the view that energy-driven price pressures are not abating — a dynamic that makes it increasingly difficult for central banks to justify holding rates steady, let alone cutting them.
Fed expectations flip dramatically: rate hikes now on the table
The most significant market development of Friday's session was the speed at which Fed rate expectations shifted. According to CME FedWatch data, market participants now see nearly 50% odds of at least one rate hike by year-end — with virtually zero probability assigned to any rate cuts. That represents a dramatic reversal from just one week ago, when traders were pricing a 28% chance of a cut and only 1% odds of a hike. The complete inversion of those probabilities in less than seven days reflects how rapidly this week's inflation data — hot CPI on Tuesday, elevated PPI on Wednesday, and oil above $100 on Friday — has reshaped the macro narrative.
Stocks and gold sell off alongside crypto
The selloff was broad and simultaneous across asset classes. The Nasdaq 100 opened Friday's session with a 1.7% decline and the S&P 500 fell 1.2%, as rising yields compressed equity valuations and risk appetite contracted sharply. Gold fell 2.5% to near $4,500 per ounce — an unusual move for an asset typically treated as an inflation hedge, suggesting the selloff reflected forced deleveraging and liquidity needs rather than a pure macro rotation.
Crypto stocks take the hardest hits
Crypto-linked equities declined more sharply than the broader market, reflecting their higher beta to risk sentiment. Coinbase fell nearly 6% and Robinhood dropped more than 3%. Digital asset investment firm Galaxy slid 5.4%. Stablecoin issuer Circle declined 7.4%, giving back a significant portion of this week's gains that had been tied to CLARITY Act progress. Strategy, the largest corporate Bitcoin holder, fell 5.4%, while Ethereum-focused treasury firm Bitmine lost almost 6%.
Bitcoin miners took the heaviest losses in the sector. MARA Holdings and Hut 8 each dropped around 7%, Cipher Mining fell nearly 9%, and Bitdeer sank almost 11% to lead declines across the mining cohort. Miners have become increasingly tied to AI infrastructure narratives in recent months — a positioning that amplifies their sensitivity to the kind of risk-off moves triggered by rising yields and inflation fears.
The bigger picture: inflation is winning
Friday's session crystallized a macro narrative that has been building all week. Three consecutive inflation surprises — CPI, PPI, and oil — have forced markets to confront the possibility that the Federal Reserve's next move may be a hike rather than a cut, a scenario that was virtually unthinkable in financial markets just two weeks ago. The speed of the repricing, from 28% cut odds to 50% hike odds in seven days, reflects how unprepared positioning was for that outcome.
For Bitcoin and crypto markets, the implications are significant. The institutional bid that has supported Bitcoin above $80,000 through recent weeks of macro uncertainty was built in part on an eventual Fed pivot narrative. With that narrative now running in reverse, the $78,600 low tested on Friday may not be the floor if bond yields continue to climb and the tightening narrative gains further momentum into the following week.
The CLARITY Act's advancement through the Senate Banking Committee remains a genuine long-term positive for crypto. But legislative tailwinds are proving no match for a bond market that is repricing the entire global rate environment in real time.

THORChain has confirmed a $10 million exploit and initiated a recovery portal with a treasury-funded refund pool matching the exploit's size. According to NS3.AI, the attackers drained 36.75 BTC and approximately $7 million in tokens across BNB Chain, Ethereum, and Base, impacting 12,847 wallets. Affected users have a 21-day period to submit claims before the refund window closes on June 4.

Grayscale's research team anticipates an acceleration in U.S. inflation, according to NS3.AI. The firm also projects that the market is not expecting any Federal Reserve rate cuts before September 2027. This scenario could pose challenges for the devaluation trade and potentially expedite the development of tokenized fixed-income products.

BNB ecosystem decentralized finance platform Eleutheria has announced the completion of a $5 million strategic funding round. According to ChainCatcher, Alpha Capital participated in this round. The valuation details have not been disclosed. The newly acquired funds will be used to develop on-chain financial services driven by trustless code and immutable smart contracts.

Parmjit Parmar, the former CEO of a publicly traded healthcare services company, has been sentenced to five years in prison for orchestrating a $212.5 million investment fraud scheme, according to the Department of Justice (DOJ). Parmar pleaded guilty to conspiracy to commit securities fraud and has been ordered to pay over $125 million in restitution to victims. Prosecutors revealed that the scheme involved the use of fake customers, altered bank statements, and fabricated bank records to artificially inflate the company's value.

Analyst Killa has announced that he is continuing to hold a swing short position in Bitcoin. According to NS3.AI, Killa expressed his hope that the price action does not reach his point of interest prematurely.

Elon Musk has stated that he will not sell any of his SpaceX shares. According to Jin10, reports suggest that the company may publicly file for its long-awaited IPO as early as next week. Musk responded to a user's post on the X platform, asserting, "I won't sell a single share." The user had suggested that he sell shares after the lock-up period ends. Sources familiar with the matter indicate that the company, which operates in the rocket, satellite, and artificial intelligence sectors, could file for an IPO as early as Wednesday. Previously, the company had confidentially submitted documents, planning to raise up to $75 billion, with a valuation exceeding $2 trillion, potentially making it the largest IPO in history.

Investing in high-profile companies like SpaceX, OpenAI, and Anthropic before they go public can be enticing for many investors. Wall Street Journal (Markets) posted on X, highlighting the potential opportunities and risks associated with such investments. These companies, known for their groundbreaking work in space exploration and artificial intelligence, have captured the attention of investors worldwide.
Pre-IPO investments allow investors to buy shares in a company before it becomes publicly traded. This can offer significant returns if the company performs well post-IPO. However, these investments are not without risks. They often involve complex financial instruments and are typically available only to accredited investors, limiting access for ordinary investors.
One of the primary risks is the lack of liquidity. Pre-IPO shares cannot be easily sold, and investors may have to wait for the company to go public to realize any returns. Additionally, the valuation of these companies can be highly speculative, and there is no guarantee of a successful IPO.
Investors should also be aware of the potential for dilution. As companies raise more capital, they may issue additional shares, which can dilute the value of existing shares. Furthermore, the regulatory environment for pre-IPO investments can be complex, and investors should ensure they understand the legal implications.
Despite these risks, the allure of investing in companies like SpaceX, OpenAI, and Anthropic remains strong. These companies are at the forefront of innovation in their respective fields, and their potential for growth is significant. However, investors should conduct thorough due diligence and consider their risk tolerance before engaging in pre-IPO investments.

The decentralized finance (DeFi) sector is increasingly confronting challenges related to complexity rather than just coding bugs, according to CoinDesk. This shift highlights the evolving nature of security concerns within the crypto industry, as protocol founders and security researchers adapt to new threats. The focus is moving beyond traditional bug fixes to addressing the intricate complexities that arise as DeFi platforms grow and develop.

The global cryptocurrency market cap now stands at $2.59T, down by 2.94% over the last day, aAccording to CoinMarketCap data, the global cryptocurrency market cap now stands at $2.59T, down by 2.94% over the last 24 hours.Bitcoin (BTC) has been trading between $77,906 and $80,776 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $78,065, down by 3.11%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include SYS, STORJ, and AI, up by 25%, 12%, and 8%, respectively.$580M in Crypto Longs Wiped Out as Bitcoin Falls to $78K — A Dangerous Week Ahead With Iran Strikes, Fed Minutes, and Nvidia EarningsBitcoin erased a full week of gains in 24 hours, sliding to $78,000 as a global bond rout — US 10-year yields above 4.5%, Japan's 30-year at a record 4%, UK long bonds at 28-year highs — and Brent above $105 triggered a $581M liquidation cascade that was 95% long positions. Fed hike odds are now near 50% as inflation re-accelerates and the Hormuz closure keeps energy prices elevated.The week ahead brings further risk: reports suggest US-Israel strikes on Iran could resume as early as next week, Fed minutes from Powell's final meeting drop Thursday, Nvidia reports earnings, and public companies have quietly accumulated 369,000 BTC over the past year — a structural demand floor that the current selloff has yet to meaningfully challenge.Crypto Longs Lose $580 Million as Bitcoin Drops to $78,000 — Global Bond Selloff and Inflation Fears Trigger Liquidation CascadeKey Takeaways:$581M in total liquidations over 24 hours — $552M from longs, just $28M from shorts — a 95% long skew exposing heavy bullish positioning into a failed 200-day MA breakoutBitcoin led at $189M in liquidations; Ether followed at $151M; the largest single order was a $21.59M BTCUSDT position on BitgetBitcoin fell 3.2% to ~$78,000, reversing all weekly gains; SOL -5%, XRP -4.3%, ETH -3.3%, DOGE -4.2%; BNB held relatively well at -3.9% on the day but still +1.1% on the weekUS 10-year yields topped 4.5%; Japan's 30-year hit 4% for the first time on record; UK long bonds touched a 28-year high; Brent settled above $105S&P 500 fell 1.2% in its worst session since March; Philadelphia Semiconductor Index dropped 4% — reversing one of the primary narratives supporting both equity and crypto risk appetiteSummary:A 95% long skew on a $581M flush is the signature of a market caught leaning heavily in one direction when the move goes the other way. Leverage had built up on the bullish side all week as traders positioned for a break above the 200-day MA at $82,000 — a level that never gave way — and the unwind was correspondingly brutal when the macro backdrop deteriorated. Bitcoin's near-term support sits at $78,000–$79,000; CryptoQuant previously identified $70,000 as the deeper support if weakness extends. A recovery above $82,000 requires either a bond yield reversal or a fresh crypto catalyst — neither appears imminent heading into the weekend.Upcoming Week's Macro Outlook: Rising Risks of U.S.-Israel Conflict and Gold Market VolatilityKey Takeaways:Reports suggest the US and Israel may resume strikes on Iran as early as next week — a significant escalation risk that would send oil sharply higher and hit risk assets hardG7 finance ministers and central bank governors convene Monday through May 19 — energy prices, inflation, and coordinated rate policy likely top the agendaFed Governor Waller speaks Tuesday at an ECB conference; Philadelphia Fed President Anna Paulson speaks Wednesday — both closely watched for signals on the hike vs hold debateFed minutes from Powell's final meeting drop Thursday — markets will parse them for any language that foreshadowed the current inflation resurgence or hints at the tightening path aheadNvidia and Walmart both report earnings — Nvidia as the bellwether for the AI capital expenditure boom that has underpinned the Nasdaq rally; Walmart for consumer spending under inflationary pressureSummary:The week ahead is as heavy as the one just passed. An Iran strike resumption would be the single most disruptive catalyst — oil above $105 already; a new military escalation could push it toward the $126 highs seen last month. The Fed minutes will be read forensically for any Powell-era language that markets can use to calibrate Warsh's starting position. Nvidia's earnings are the AI narrative's most important quarterly test — a miss would unwind one of the key structural tailwinds that has kept institutional risk appetite elevated through months of geopolitical turbulence.U.S. Inflation Surges Amid Rising Energy Prices, Fed Rate Hike Speculation GrowsKey Takeaways:US inflation indicators hit multi-year highs across CPI (3.8% YoY), PPI (6% YoY), and energy prices (Brent above $105) in a single week — driven by the ongoing Iran conflict's disruption of Persian Gulf supplyTraders have largely dismissed any probability of a Fed rate cut in 2026; rate hike expectations by year-end are now approaching 50%Thursday's Fed meeting minutes from Powell's final session will be closely watched for strengthening hike signalsMiddle East uncertainty continues to cast a shadow — the Hormuz closure remains the primary inflation driver that monetary policy alone cannot resolveSummary:The inflation story has moved from "persistent" to "re-accelerating" in a single week — and the source is almost entirely geopolitical rather than demand-driven. That distinction matters for the Fed: monetary tightening can cool demand-driven inflation but does little to address a supply shock caused by a blocked shipping lane. Warsh inherits a situation where the only real inflation cure — a Hormuz resolution — is outside the Fed's control, leaving rate hikes as the blunt instrument available if price pressures continue to build.Grayscale Amends Filing for U.S. Spot BNB ETFKey Takeaways:Grayscale submitted an amended S-1 filing to the SEC for a spot BNB ETF, per Bloomberg ETF analyst James SeyffartThe amendment reflects ongoing regulatory engagement rather than a new filing — Grayscale is actively working the approval process for BNB as a regulated investment productA spot BNB ETF would be the first regulated US product offering direct exposure to Binance's native token, potentially unlocking institutional demand through ETF distribution channelsSummary:Grayscale amending its BNB ETF filing is a quiet but significant signal — it means the regulatory conversation is live and progressing rather than stalled. BNB's relative outperformance during Friday's broad selloff (the only green asset in the CoinDesk 20) combined with a potential spot ETF in the pipeline gives the token a structural demand narrative that most altcoins currently lack. If approved, a BNB ETF would extend the institutional wrapper model beyond Bitcoin and Ethereum into the exchange token space for the first time.Public Companies Accumulate 369,000 BTC Over Past YearKey Takeaways:Publicly traded companies have accumulated a net 369,000 BTC over the past 12 months — a figure that reflects a structural shift in how corporations are treating Bitcoin as a treasury assetThe accumulation has continued through periods of significant price volatility, including the 50% drawdown from October's $126,000 all-time high to February's $62,000 lowStrategy's 818,334 BTC holding dominates the corporate total, but the trend extends well beyond a single company as treasury adoption broadensSummary:369,000 BTC accumulated by public companies in 12 months is a demand figure that puts the current selloff in structural context. Corporate treasuries buying through a 50% drawdown is the clearest possible signal of conviction — these are not momentum traders exiting at $78,000. The accumulation represents a permanent demand floor that grows each quarter regardless of short-term price action, and it sits alongside the ETF channel's 1.5M BTC exposure as the two structural demand pillars that distinguish this cycle from prior ones. The current macro headwinds are real, but they're hitting a market with significantly more durable institutional ownership than existed during the 2022 bear market.Market movers:ETH: $2170.38 (-3.87%)BNB: $654.45 (-4.26%)XRP: $1.4064 (-4.16%)SOL: $86 (-5.70%)TRX: $0.3516 (-0.23%)DOGE: $0.10914 (-5.13%)WBTC: $77844.78 (-3.13%)U: $1.0001 (+0.00%)XAUT: $4528.75 (-0.68%)ADA: $0.2529 (-5.35%)

Morgan Stanley's spot Bitcoin ETF has expanded its holdings by adding 74.536 BTC, valued at approximately $5.93 million. According to NS3.AI, this addition brings the fund's total Bitcoin holdings to 3,389 BTC. Arkham data estimates the total value of the fund's Bitcoin holdings at $273 million.

ECB Governing Council member Yannis Stournaras stated that the European Central Bank (ECB) can implement small interest rate hikes to control inflation without harming the economy. According to Jin10, Stournaras mentioned that even if inflation remains significantly above target for a period, as long as it is temporary, future monetary policy tightening should be moderate. This approach aims to curb further inflation spread while minimizing economic impact. The duration and intensity of the energy crisis, along with its transmission to the real economy, will also influence the ECB's response. The ECB will continue to closely evaluate all available data and is prepared to set policy rates at levels consistent with maintaining price stability in the medium term. Stournaras, typically known for his dovish stance, emphasized that there is currently no strong evidence of second-round inflation effects. However, he warned that uncertainty is rising due to damage to energy infrastructure in the Gulf region, which could extend inflationary pressures in the medium term. Extended delivery times and rising input costs indicate increasing pressure on supply chains.

THORChain has issued an update regarding a recent hacking incident on the X platform. According to ChainCatcher, initial evidence suggests that a node recently added to the network may have been compromised by a malicious actor. This actor allegedly exploited a GG20 TSS vulnerability to access vault participant key information, ultimately reconstructing the vault's private key and executing unauthorized fund withdrawals.
As a result, several THORChain nodes have been shut down, leading to a temporary network pause. It is anticipated that RUNE transfers could resume in approximately 12 hours, although this depends on node decisions. However, transaction capabilities, liquidity provider operations, and signing functions remain unavailable, with full network functionality expected to take several days to restore.
Recovery plans are under discussion, potentially involving the reduction of stakes for affected nodes and other community-suggested remedies.

Cerebras Systems, a U.S. AI chip company, has officially listed on Nasdaq, marking the largest global IPO since 2026, raising approximately $5.55 billion. According to ChainCatcher, the company's stock surged by 108% during intraday trading, closing with a market capitalization of $67 billion on its first day.
Cerebras is known for its wafer-scale AI chip architecture, which is seen as a significant competitor to Nvidia's GPU dominance. The company has secured computing power orders from several AI enterprises, including OpenAI. Notably, 1789 Capital, involving Donald Trump Jr., is among its investors. This firm has participated in two rounds of Cerebras' financing since 2025 and has continued to increase its investment in subsequent rounds.
Before the IPO, Cerebras completed multiple financing rounds, with its valuation peaking at $23 billion. The company attracted investments from Benchmark, Fidelity, AMD, and other institutional and industry capital, creating a diverse shareholder base spanning Silicon Valley and Wall Street. Analysts highlight that this IPO is a significant milestone in the AI chip sector and amplifies the trend of capital concentration in AI infrastructure. The involvement of investment firms linked to political families has also drawn considerable market and public attention.

Shiba Inu (SHIB) may remain under pressure as it has been trading below $0.000007 for several months. According to NS3.AI, the analysis highlights weak investor interest and limited adoption as key factors contributing to this trend. Additionally, there is a possibility of profit-taking if SHIB nears its 2021 peak, further impacting its price stability.

Circle's official data reveals that in the week ending May 14, approximately 5.4 billion USDC were issued, while about 7.1 billion USDC were redeemed, resulting in a net decrease of 1.7 billion USDC in circulation. According to ChainCatcher, the total circulation of USDC stands at 76.5 billion. The reserves are approximately 76.7 billion USD, comprising around 48.3 billion USD in overnight reverse repurchase agreements, 16.1 billion USD in Treasury bills with maturities under three months, 11.9 billion USD in deposits at systemically important institutions, and 500 million USD in other bank deposits.

Charles Hoskinson has highlighted a significant concern regarding the future of digital security, stating there is a more than 50% chance that commercial quantum systems could pose a challenge to current digital security measures before 2033. According to NS3.AI, Hoskinson emphasized the need for the cryptocurrency industry to prepare for potential threats to existing cryptographic methods. In response to these concerns, Cardano is actively working on enhancing its security by advancing post-quantum security measures based on lattice cryptography.

Para CEO Nitya Subramanian discussed the concept of agent wallets, which can limit spending to $200 per week and restrict transactions to a single merchant, such as Chipotle. According to NS3.AI, Subramanian noted that while most agent-payment protocols emphasize routing rails, the more complex and often overlooked aspect is wallet-level authorization and permissions.

A significant liquidation cascade impacted major tokens overnight, driven by a global bond selloff and marking the worst session for U.S. stocks since March, according to CoinDesk. This event led to a widespread reduction in leverage across the crypto market, reflecting heightened volatility and investor caution amid broader financial market turbulence.

The U.S. 30-year Treasury yield was close to 5.109%, while the UK 30-year gilt hovered around 5.857%, and Brent crude oil was priced near $108.54. These figures indicate that key stress indicators are approaching levels that could signal broader market strain. According to NS3.AI, the U.S. high-yield option-adjusted spreads stood at 2.82% on May 13, and the Chicago Fed National Financial Conditions Index (NFCI) was at -0.524 for the week ending May 8. These metrics suggest that a credit event similar to the 2008 financial crisis has not yet been confirmed.

THORChain has issued a warning to its community about the presence of numerous fake accounts and misinformation regarding refunds, airdrops, and compensation activities. According to Foresight News, an initial investigation indicates that user funds were not compromised in the recent security incident. THORChain has not initiated any refund, airdrop, or compensation plans. Any accounts claiming otherwise are impersonating or spreading false information. Further updates and details on the investigation will be provided in due course.