Crypto Industry News & Market Trends

Italy Traces €1 Million in Undeclared Bitcoin Ordinals Gains

Bitcoin　　Italy Traces €1 Million in Undeclared Bitcoin Ordinals Gains　　Italian financial investigators traced more than €1 million ($1.16 million) in undeclared crypto-related gains through a trading operation, Chainalysis said on May 20. The case centered on a suspect accused of concealing digital asset income while also unlawfully receiving public financial assistance. Authorities began reconstructing the activity after seizing a Ledger hardware wallet during a search operation.　　Investigators from the Economic and Financial Police Unit of Foggia, a division of Italy‘s Guardia di Finanza based in the southern Italian city of Foggia, worked alongside the Special Unit for Privacy Protection and Technological Fraud of Rome to examine transaction records tied to the wallet. The probe expanded after analysts identified repeated activity involving and BRC-20 assets. Chainalysis explained that modern hardware wallets generate multiple receiving addresses automatically, distributing transaction history across ’s Unspent Transaction Output model. Analysts grouped those addresses together through ownership heuristics, allowing investigators to isolate the wallet cluster responsible for the flows tied to the alleged tax violations.　　Chainalysis stressed:　　“No matter how sophisticated a scheme appears, the underlying technology leaves a permanent, immutable trail.”　　Ordinals technology allows individual satoshis to carry inscriptions directly on the . BRC-20 tokens use that structure to create

05-21Industry

Institutions Add $4.6B to MSTR, Silvergate Exec Breaks SEC Silence, IG Taps Bitpanda

Tech　　Institutions Add $4.6B to MSTR, Silvergate Exec Breaks SEC Silence, IG Taps Bitpanda　　Strategy‘s MSTR stock attracted heavy institutional accumulation in the first quarter of 2026 even as shares dropped roughly 18%. Chief executive Phong Le disclosed Form 13F filings showing that 13 of the top 15 institutional shareholders increased their positions, lifting combined holdings by $4.6 billion, or 27%. Capital International led the wave with a $1.92 billion increase. Vanguard’s portfolio and capital management entities collectively added $967 million, while BlackRock Institutional Trust raised its stake by $377 million. Defiance ETFs entered the top 15 with a $511 million position. Only Morgan Stanley Investment Management trimmed exposure, shaving a modest $7 million during a steep Bitcoin drawdown.　　A closer look at the filings draws a sharp line between active conviction and passive index mechanics. Vanguard, BlackRock, State Street, and Geode Capital largely hold Strategy shares through index-tracking vehicles, meaning their additions partly reflect rebalancing rather than pure directional bets on Bitcoin exposure. By contrast, Capital International‘s nearly $2 billion increase represents a deliberate active wager, while Defiance ETFs’ fresh $511 million stake signals dedicated thematic demand. The split matters: passive flows wax and wane with index reconstitution, but active accumulation underscores

05-21Industry

Why Bonds Have Been Wobbling Worldwide

Finance　　Why Bonds Have Been Wobbling Worldwide　　Bonds have been wobbling worldwide. The 30-year U.S. Treasury bond, now over 5%, is at its highest level since 2007. The British 30-year yield is surging to 6%. Japan spent years suppressing interest rates to virtually 0%. Now its 10-year is almost 2.8%, the 30-year, over 4%. Yields of German government obligations are rising as well.　　The immediate cause has been the fallout of the Iran war, but there‘s something far more fundamental at work. What has been happening in recent years is that governments have been weakening the value of their currencies. The most reliable metric for measuring that is gold. For a variety of reasons, the yellow metal has largely kept its intrinsic value for thousands of years. When you see gold prices change, what you’re actually witnessing is the changing values of currencies in which the gold price is denominated.　　The dollar price of gold per ounce was under $2,000 three years ago. Today its well over $4,000, even going over $5,000 a few months ago. Many other currencies are weaker than the dollar.　　What makes Japan particularly worrisome is that its huge national debt, which is proportionately more than twice that of the U.S.,

05-21Industry

Binance Debuts SpaceX Pre-IPO Perp As Traders Expect $2 Trillion Valuation

Tech　　Binance Debuts SpaceX Pre-IPO Perp As Traders Expect $2 Trillion Valuation　　Binance has launched a new product that enables traders to make predictions about the price of private companies before they go public. The first “Pre-IPO Perpetual Contract” on the exchange is associated with the Elon Musks rocket and satellite company, SpaceX.　　Binance Futures Introduces SpaceX Pre-IPO Perpetual Contract　　The new perpetual contract of SPCXUSDT will be settled in Tether on Binance. It allows those who wish to trade with the anticipated market price of SpaceX before it goes public.　　Generally, such pre-IPO options are available to institutional entities and VCs. However, Binance aims to bring these offerings to retail crypto traders.　　Shunyet Jan, the Head of Spot and Derivatives Business at Binance, remarked on the launch. He said, “Pre-IPO perpetual futures is another example of how Binance is democratizing access to market opportunities by combining crypto-native infrastructure with major financial events. As interest in public listings continues to grow, were giving users a more flexible way to engage with anticipated IPOs earlier.”　　Moreover, he noted that the launch is part of Binances mission to become a “financial super app.” It will help to reach retail participants to investment opportunities that were not available before, he

05-21Industry

SEC “Crypto Mom” Hester Peirce to Leave Agency in 2026

Crypto　　SEC “Crypto Mom” Hester Peirce to Leave Agency in 2026　　, one of the most well known people in US cryptocurrency regulation, is preparing to leave the Securities and Exchange Commission (SEC) after Regent University School of Law announced that she will join its faculty as an associate professor in November 2026.　　Regent University the appointment on May 19, with Dean S. Ernie Walton praising both Peirce and former government official Greg Jacob for their experience in law and public service. Walton described their decision to join the institution as a major benefit for students studying law, financial regulation, and public policy. Peirce is expected to teach subjects including securities regulation, financial markets, and digital assets.　　In the crypto industry, Peirce became very well known by the nickname “Crypto Mom” because of her repeated of the SECs approach toward digital asset companies. Since becoming an SEC commissioner in January of 2018, she consistently argued that regulators should encourage innovation instead of applying securities laws too broadly to emerging blockchain technologies.　　Her influence grew even more after she was appointed head of the SEC‘s in January of 2025. The task force was created during a major shift in the SEC’s stance toward cryptocurrency regulation and

05-21Industry

Walmart (WMT) earnings Q1 2027

Finance　　Walmart (WMT) earnings Q1 2027　　issued a worse-than-expected financial outlook on Thursday as it reported fiscal first-quarter results, raising questions about the health of the U.S. consumer as high gas prices strain shopper budgets.　　The mega retailer stood by its fiscal 2027 outlook, which disappointed investors last quarter when it was issued. The retailer said its expecting adjusted earnings per share to be between $2.75 and $2.85, lower than expectations of $2.91, according to LSEG. Walmart said it anticipates net sales will rise between 3.5% and 4.5% for the year.　　Walmart also issued its outlook for its current quarter, which came in light of expectations, as well. It expects adjusted earnings per share will be between 72 cents and 74 cents, missing expectations of 75 cents. Walmart anticipates net sales will climb 4% to 5% for the quarter.　　Walmart‘s weaker-than-expected outlook comes as the largest U.S. retailer and its peers post relatively strong sales for the first quarter. The company’s revenue rose 7% in the first quarter, as the value player continues to see gains in its e-commerce business and with higher-income shoppers.　　So far this earnings season, other major companies have also said consumer spending has held up in the face of higher gas

05-21Industry

Moscow Exchange prepares to start trading cryptocurrencies this year

The Moscow Exchange intends to start trading cryptocurrencies once Russia enforces its digital-asset regulations in the coming weeks.　　The platform is among a growing number of major financial institutions announcing crypto products and services ahead of the adoption of the new Russian law.　　MOEX to begin cryptocurrency trading this summer　　Russias main market for stocks and derivatives, the Moscow Exchange (MOEX), plans to soon offer clients the option to directly buy and sell digital coins.　　According to Viktor Zhidkov, the chief executive of its operator, testing will begin in early summer, while full-scale crypto trading should commence later this year.　　The exchange is currently “developing a concept for cryptocurrency trading” while waiting for Russian authorities to finalize the countrys comprehensive regulatory framework.　　The platforms management wants to see what shape and form it will take in the end to avoid making any mistakes, the chairman of the MOEX board told the business news outlet RBC.　　“We are preparing testbeds so that our traditional infrastructure is ready,” the CEO said in an interview published Thursday, further elaborating:　　“I think these tests will begin in early summer … These are standard access points to our order book … I believe we will successfully complete them.”　　During the initial stage, only professional

05-21Industry

Rotation or illusion? China rebounds while US leadership gets crowded

Finance　　Rotation or illusion？ China rebounds while US leadership gets crowded　　There is a question sitting under the current CHA50 vs. US500 setup: is China finally drawing capital on its own merits, or is this simply what happens when the U.S. trade becomes too full？ The China vs. US stock market debate has sharpened because both sides now carry very different risks. China is no longer priced only as a disappointment story. The U.S. is no longer priced with much room for disappointment at all.　　Chinas rebound has real inputs　　The China stock market rebound is not built on one headline. From late February to early May 2026, the China A50 gained about 7%, while MarketPulse noted a bullish breakout above a six-month range and targets near 16,100 to 16,340 if momentum holds. April data also helped. The private RatingDog manufacturing PMI rose to 52.2, the strongest reading since late 2020, helped by firmer production and new orders.　　That gives the China A50 vs S&P 500 trade a clearer base than it had last year. Beijing has kept monetary policy “moderately loose” for 2026 and continued to push domestic demand as a central policy theme. Invescos China equities outlook also points to a more supportive

05-21Industry

HYPE Jumps Double Digits as Hyperliquid ETFs Add $25.5M

In briefInflows to Hyperliquid ETFs hit $25.5M Wednesday, higher than the first five days of inflows combined.ETF demand follows HYPEs stellar performance, which has led to more than a 100% rally this year.Bitwise shows strong support for Hyperliquid, committing 10% of ETF fees into the HYPE balance sheet.　　Hyperliquid‘s sustained uptrend continued into Thursday, as the decentralized exchange’s token surged to an intraday high of $58.97.　　HYPE is currently trading at $57.20, up 15.3% on the day according to CoinGecko data. Its explosive gains outpaced those of Zcash (12%) and Worldcoin (7%), and comes amid renewed institutional interest.　　The newly launched Hyperliquid ETFs logged $25.5 million in net buying on Wednesday. That figure is 17 times higher than the tokens daily Assistance Fund burn of roughly $1.4 million, per Dune Analytics. It also exceeds the combined net buying of the first five days, which amounts to $22.35 million, according to SoSoValue data.　　ETF demand for HYPE is now dramatically outpacing the tokens built-in supply reduction mechanism, a dynamic that could tighten available supply further.　　“The market is rewarding real trading volume, fee generation, user engagement, and the perception that Hyperliquid is becoming one of the few crypto native platforms capable of competing with centralized exchange

05-21Industry

Bitcoin price may get macro boost as BofA says tariff refunds could cool inflation

Bitcoin　　Bitcoin price may get macro boost as BofA says tariff refunds could cool inflation　　The tariff refund trade has moved from court hypothesis to Treasury accounting, and the macro picture looks more consequential than traders initially framed it, with traders increasingly watching whether the process can improve Bitcoin prices macro outlook.　　The US Customs and Border Protection had processed $35.46 billion in tariff refunds as of May 11, including interest, validating 86,874 applications covering 15.1 million entries and finalizing 8.3 million shipments.　　Up to $166 billion in IEEPA tariff collections qualify for repayment, money owed to more than 330,000 importers across roughly 53 million entries, with a Supreme Court ruling having stripped the President Donald Trump administrations authority to impose them.　　The processed pool already represents about 21% of the potential maximum, and the rest of the eligible volume is large enough to move both reserves and pricing behavior if payments proceed quickly.　　Most Bitcoin framing around the refund pool follows a channel in which money leaves the Treasury General Account, bank reserves rise, and risk assets catch a bid.　　Fed Governor Christopher Waller‘s balance sheet explanation confirms the accounting, noting that when the Treasury makes a payment, the Fed debits the TGA and credits the

05-21Industry

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