Bitcoin Drops to $76K as Fresh US-Iran Tensions Resurface

Bitcoin (BTC) dropped to $76,000 during the early Asian trading hours on Monday as US-Iran tensions resurfaced.  Key takeaways Bitcoin falls to $76,500 as bearish momentum becomes increasingly tied to geopolitical developments. Over $607 million in long positions have been liquidated in the last 24 hours. Bitcoin traders say support at $76,000 should hold to…

Verus Ethereum Bridge Reportedly Exploited for $11.58 Million

Verus Protocol’s Ethereum bridge was reportedly exploited on Monday through a fake cross-chain transfer message that allowed a hacker to fraudulently transfer out at least $11.58 million in cryptocurrency. Onchain security platform Blockaid said in an X post on Monday that its detection system identified an ongoing exploit on the Verus-Ethereum bridge and shared a…

Senate Crypto Bill Might Pass as Late as August: NYDIG

The US Senate’s crypto market structure bill could take until August to pass and risks not advancing at all if lawmakers cannot pass it before the midterms, said Greg Cipolaro, head of research at financial services firm NYDIG. Patrick Witt, a senior White House crypto adviser, said earlier this month that he was targeting July…

Crypto traders betting on a rally lose $563 million in liquidations. Ether and bitcoin suffer the most

Ether and bitcoin led liquidations, as their prices dropped on macroeconomic concerns. Source link

Grayscale, VanEck Amend BNB ETF Applications

Asset managers Grayscale and VanEck filed amended S-1 registration statements for their respective spot BNB exchange-traded funds on Friday, bringing the cryptocurrency one step closer to becoming an approved US crypto ETF.  Grayscale filed its second amendment, while VanEck submitted its fifth on Friday. S-1s are one of the main filings that ETF issuers must…

Bitcoin Analysts Debate ‘Sell in May’ Pattern

Crypto analysts are divided over whether markets will see a major Bitcoin sell-off in May, a pattern that has emerged in the last two bear markets during US mid-term election years.  In May 2018, Bitcoin crashed from nearly $10,000 to about $7,000 by the end of the month. It happened again in May 2022, when…

BoE Considers Easing UK Stablecoin Caps After Industry Backlash

Update May 14, 2:45 pm UTC: This article has been updated to include comments from Katie Haries, head of policy for Europe at Coinbase. The Bank of England (BoE) is reconsidering parts of its proposed regime for pound sterling stablecoins after digital asset companies warned that holding caps and reserve requirements could stifle adoption and…

Michael Saylor Floated Bitcoin Sales Idea to Avoid ‘Impairing The Asset’

Strategy executive chairman Michael Saylor said he raised the possibility of selling Bitcoin during Strategy’s recent earnings call to protect the asset’s long-term interests. “We own about $65 billion worth of Bitcoin. If the market thought we would never sell it, the credit rating agencies would say, Well then, I guess it’s not an asset,”…

The Clarity Act took a step forward: State of Crypto

Unpacking Thursday’s at-times contentious markup hearing. Source link

CFTC Issues No-Action Letter on Prediction Market Data Reporting

The US Commodity Futures Trading Commission’s (CFTC) market and clearing divisions issued no-action relief for fully collateralized event contracts, easing certain swap data reporting and recordkeeping obligations for prediction market operators and clearing organizations. The divisions said Wednesday that they will not recommend enforcement against designated contract markets (DCMs), derivatives clearing organizations (DCOs), or their…