Market Highlights

Bitcoin (BTC) is trading at $93,719, up 1.5% today. It recently peaked at $94,184, driven by substantial inflows into spot Bitcoin ETFs, totaling $442 million yesterday INVESTORS +1

Ethereum (ETH) stands at $1,777, marking a 2% increase.

Solana (SOL) has risen to $153.67, reflecting a 4.9% gain.

Institutional Movements

CME Group plans to launch XRP futures on May 19, pending regulatory approval. This follows the recent introduction of Solana futures, indicating growing institutional

interest in altcoins REUTERS

Cantor Fitzgerald, in collaboration with SoftBank, Tether, and Bitfinex, has unveiled a $3.6 billion crypto venture named Twenty One Capital. The initiative aims to acquire over 42,000 BTC, positioning it as the third-largest Bitcoin holder

Stablecoin Developments

Citigroup projects that the stablecoin market could quintuple to nearly $4 trillion within five years, driven by their increasing use in payments and cash management

AXIOS

Circle has introduced the Circle Payments Network (CPN), aiming to enhance stablecoin adoption by addressing onboarding challenges and compliance issues

▲ Noteworthy Events

Tether has increased its stake in Italian football club Juventus to over 10%, reflecting its commitment to long-term investments beyond the crypto sector REUTERS

Hayden Davis, linked to the $Libra cryptocurrency scandal, is under scrutiny for allegedly extracting $100 million from the token's liquidity pools. Argentine authorities are seeking his arrest via Interpol