Crypto Industry News & Market Trends

Donald Trump Gives the Fed 120 Days to Open Payment Access to Crypto Firms

Donald Trump, Source: The White HouseFederal Reserve Payment Account Review　　The order asks the Federal Reserve Board to complete a parallel review within 120 days. The evaluation covers whether uninsured depositories and non-bank firms, including crypto companies, can access Reserve Bank payment services.　　It also asks whether individual Federal Reserve Banks can act independently on such applications. That question echoes earlier disputes over master account access for crypto-focused banks like Custodia.　　Where existing law allows expanded access, the order asks the Fed to publish transparent application procedures. Complete applications must then receive a decision within 90 days.　　Industry Reaction　　Custodia Bank founder Caitlin Long welcomed the directive. She has long argued that the Federal Reserve has blocked legally-eligible institutions from the US payment system. Custodia lost a 2023 court fight to win master account approval. The Trump administration has also pushed earlier orders targeting crypto debanking.　　The directive lands as crypto firms continue to push for federal payment system access. Kraken became the first crypto firm to plug directly into the Fed earlier this year. Ripple and others remain in the application pipeline. The coming 90 to 180 days will show how quickly regulators translate the order into concrete rule changes.　　The post Donald Trump Gives the

05-21Industry

Ethereum Price Prediction: ETH Holds $2,100 as Whales Exit

Ethereum is holding the lower edge of its green Gaussian Channel, keeping the short-term bounce setup alive near $2,100. However, whale count data shows large ETH holders have been leaving or consolidating positions, putting the $2,000 support level back in focus.　　Ethereum Price Backtests Green Gaussian Channel as $2,100 Support Holds　　Ethereum is backtesting the green Gaussian Channel on the daily Bitstamp chart shared by Sky on X, with price holding near the lower channel area for several sessions.　　The ETH/USD chart shows Ethereum trading near $2,110 after pulling back from the recent range near $2,370. The latest candles sit close to the lower edge of the green Gaussian Channel, where the analyst marked a possible support reaction.　　ETH/USD Daily Gaussian Channel Chart. Source:　　The channel had already flipped from purple to green. That matters because the previous purple phase showed weaker trend conditions, while the green phase points to a possible recovery setup.　　However, ETH still needs to hold the current support area. The chart shows the lower channel band near $2,102, while price remains only slightly above it.　　A daily close below this zone would weaken the backtest and could bring the lower range near $2,025 back into focus.　　If Ethereum holds the channel, the first

05-21Ethereum

Trump Orders Fed to Review Crypto Firms’ Access to Master Accounts

U.S. President Donald J. Trump signed an executive order Tuesday directing federal financial regulators to review and update rules for integrating digital assets and fintech into traditional financial services.Federal regulators have 90 days to identify regulations that impede fintech partnerships with federally regulated institutions, followed by 180 days to encourage innovation based on findings.The Federal Reserve must evaluate within 120 days whether it has legal authority to grant non-bank financial companies, including digital asset firms, direct access to Federal Reserve payment accounts.　　U.S. President Donald J. Trump signed an executive order Tuesday mandating federal financial regulators to streamline rules within 90 days, potentially opening Federal Reserve payment systems to digital asset companies.　　The order requires the Federal Reserve, Consumer Financial Protection Bureau, Securities and Exchange Commission, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and National Credit Union Administration to complete their regulatory reviews by mid-August.　　The Federal Reserve faces the most specific mandate: submit a report within 120 days evaluating its legal authority to extend direct access to Federal Reserve payment accounts for non-bank financial companies, including digital asset firms. If existing law permits such access, the Fed must create transparent application procedures and render

05-21Industry

XRP institutional demand declines in May

The institutional demand for XRP, the native token of the XRP Ledger (XRPL), declined in May after a notable accumulation in April 2026.　　The XRP institutional accumulation model on Binance – a tool tracking net buying activity from large wallets on the exchange – slipped back below zero in May, according to on-chain data from analyzed by Finbold on May 20. The indicator dropped to approximately -0.0059 at the time of reporting, signaling that whale demand for the token has softened.　　Institutional accumulation mode on Binance for this token. Source: CryptoQuant　　As a result, Aprils brief breakout, which marked the first positive readings in six months, has ended. However, the slowdown in its institutional accumulation in May remains close to zero, suggesting investors may be exercising caution after a notable increase in demand since early February 2026.　　“Despite this decline, the index remains close to neutral territory, indicating that the market has not yet entered a phase of strong distribution or widespread institutional exit,” Arab Chain noted on CryptoQuant.　　Furthemore, large XRP holders have already withdrawn nearly 403 million XRP, valued at more than $548 million, from the Binance exchange between May 1 and 15, based on recent insights from .　　XRP price outlook amid institutional

05-21Industry

Trump order puts crypto firms in line for Fed payment rails

Kraken gives crypto firms a working model　　Krakens approval gives the industry a practical example of how expanded access could work.　　In March, the Kansas City Fed granted Kraken Financial a limited-purpose account that allows access to core payment rails used for high-value dollar settlement.　　The account could help the exchange process institutional deposits and withdrawals more efficiently, particularly for clients moving large balances between trading venues, custodians, and banking partners.　　The arrangement is limited. Kraken does not have access to all services available to insured banks, and the account reportedly excludes benefits such as interest on reserves and access to Fed credit.　　Those limits are designed to reduce risk to the central bank while giving a crypto firm a narrower connection to payment infrastructure.　　That model could become the template for other digital asset companies. A restricted account would allow firms to move dollars through Fed payment systems while withholding privileges that regulators and banks consider more sensitive, including overdrafts, reserve interest, or emergency lending access.　　Caitlin Long, CEO of Custodia Bank, welcomed Trumps intervention, saying the order recognized a continuing problem at the Fed with blocking legally eligible institutions from the US payment system. Custodia has spent years fighting for access after the Fed denied

05-21Industry

Pi Network News: Protocol 23 Upgrade Nears Final Rollout After Most Complex Migration in Project History

The post Pi Network News: Protocol 23 Upgrade Nears Final Rollout After Most Complex Migration in Project History appeared first on Coinpedia Fintech News　　Pi Network is moving closer toward its major Protocol 23 transition as the team confirmed that most Mainnet node operators have now successfully upgraded to v23. According to the latest update from the Pi Core Team, the protocol is expected to fully migrate very soon after one of the most technically demanding upgrades in the projects history.　　The team explained that the upgrade involved multiple subsystem improvements, infrastructure optimizations, and large-scale internal data reprocessing, making the migration far more complex than a normal software update.　　Pi Pushes Major Backend Overhaul　　The transition includes three major infrastructure upgrades happening simultaneously:Protocol v22 → v23Ubuntu 20 → Ubuntu 24PostgreSQL 12 → PostgreSQL 16　　Pi said the move is designed to improve long-term scalability, network stability, database performance, and overall blockchain efficiency as the ecosystem continues expanding.　　The Protocol 23 migration also reportedly aligns Pi more closely with Stellar Core v23.0.1, opening the door for future smart contract support, PiRC2 functionality, decentralized applications, and additional Web3 infrastructure features.　　Why This Upgrade Was So Difficult　　Unlike normal software patches, Protocol 23 requires nodes to completely rewrite and reprocess existing

05-21Industry

Zcash Soars 88% In 30 Days: Is ZEC The Stealth Winner Of This Crypto Cycle?

BitMEX co-founder Arthur Hayes has suggested that Zcash (ZEC) could eventually reach 10% of Bitcoin‘s market capitalization, a long-term bullish thesis on privacy coins rather than a near-term price forecast. Based on ZEC’s circulating supply of around 16 million tokens, that scenario would imply a price in the high four-figure range, roughly $8,000–$10,000, depending on Bitcoins valuation.　　A Chart Pattern Worth Watching　　On the technical side, traders point to a possible cup-and-handle pattern, but this is a subjective chart formation with no guarantee of outcome. Resistance is often cited around $625–$650, with some speculative projections suggesting a move toward $1,000, though this depends heavily on broader market conditions and is not a confirmed target.　　The target also lines up with ZECs 1.618 Fibonacci extension, drawn from a $745 swing high down to a $185 swing low.　　Privacy Coins Pull Ahead　　ZEC is not moving alone. Monero and Dash, both privacy-focused tokens, have also posted gains over the past month. But Zcash leads the pack. Reports indicate the coin climbed more than 80% in 30 days while the total crypto market cap barely moved — up just 0.2% over the same stretch.　　In the past three days alone, ZEC added 18% as the broader market slipped 3%.

05-21Industry

Bitcoin node counters go dark following Bitnodes expiry

It used to be easy to estimate how many Bitcoin full nodes were easily reachable over the internet, but almost all of those counters have gone offline this month.　　As of Tuesday, Coin Dances node counter reported a last-updated time of 476 hours ago. Indeed, the page displays 23,795 reachable nodes as of its latest update last month.　　Bitcoin node estimates plastered across dashboards, glossaries, and other webpages havent moved in roughly three weeks.　　The main culprit seems to be Bitnodes.io, a popular crawler that ran continuously since 2013 yet went dark after its domain expired on May 3, 2026. A single developer, Addy Yeow, ran the project with early financial support from Balaji Srinavasans 21 Inc, once the best-funded company in the Bitcoin industry.　　Neither Srinavasan nor Yeow have issued public statements on the GitHub repository or anywhere else about the outage.　　NewHedge used Bitnodes API and, therefore, has taken its counter offline. Another Bitnodes API user, SatoshiDashboard, also went down.　　Clark Moody‘s dashboard simply re-posts Bitnodes’ old cached number.　　Navigating to bitnodes.io itself returns a DNS error.　　Bitnodes was a fan favorite　　Two weeks into the outage, BitMEX Research proposed a rudimentary replacement crawler, Bitnod.es, using off-the-shelf tooling.　　With sincere modesty, BitMEX Research conceded that the substitute is

05-21Industry

Canaan mining posts $88.7m Q1 loss

Canaan mining maker posted an $88.7m net loss in Q1 2026 on revenue of $62.7m as Bitcoin prices and hashprice both fell sharply.Canaan posted Q1 2026 revenue of $62.7m in line with guidance, but a $25m inventory write-down pushed the net loss to $88.7m, wider than the $86.4m loss in Q1 2025.Machine sales fell 75% quarter-on-quarter to $39.6m as deliveries under a major North American customer order were completed, leaving a lean inventory position.Canaan guided Q2 revenue at $35m to $45m, well below analyst estimates of around $96m, citing continued Bitcoin price pressure and soft market demand.　　Canaan Inc. reported in a May 19 press release that Q1 2026 revenue reached $62.7 million, in line with its February guidance range but down sharply from $196.3 million in Q4 2025.　　The company recorded a gross loss of $22.9 million for the quarter, including a $25 million inventory write-down, and a net loss of $88.7 million compared to $86.4 million in the same period a year earlier.　　“Despite bitcoin price volatility, compressed hashprice conditions, elevated energy costs, and weather-related disruptions in North America, we delivered total revenue of $62.7 million, which was in line with our guidance,” said Nangeng Zhang, chairman and chief executive of

05-21Industry

Bitmine Buys 71K ETH During Price Dip, Tom Lee Confirms

Bitmine Immersion Technologies, the largest Ethereum (ETH) treasury company, has added 71,672 ETH to its holdings during a recent price pullback. Chairman Tom Lee confirmed the acquisition, describing Ether‘s dip below $2,200 as an “attractive opportunity.” The move brings Bitmine’s total holdings to over 5.2 million ETH, with a long-term goal of controlling 5% of the tokens circulating supply.　　As of May 19, 2026, Ether is trading at $2,133.92, reflecting minimal day-over-day change. Over the past week, ETH has ranged between $2,081 and $2,341, pressured by bearish sentiment and broader market challenges. The token is down 57% from its August 2025 all-time high of $4,946, with analysts warning of potential downside toward $1,700 amid rising exchange supply and fading ETF demand.　　Bitmine‘s strategy mirrors the Bitcoin-focused treasury approach of Michael Saylor’s MicroStrategy, consistently accumulating ETH during periods of weakness. Earlier this month, the firm purchased 26,659 ETH between May 4 and May 11, although this marked a slowdown from its prior pace of over 100,000 ETH per week. The companys latest acquisition comes amid reports of renewed buying activity by long-dormant Ethereum whales. Blockchain analytics platform Lookonchain noted that a whale who previously sold their ETH holdings returned to the market last

05-21Ethereum

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