Latest Crypto News & Market Updates

Ex-Celsius CEO Mashinsky Seeks to Overturn 12-Year Fraud Sentence

Alex Mashinsky, the former CEO of Celsius Network, has filed a motion in New York federal court to vacate his 12-year prison sentence. Mashinsky, sentenced in May 2025 for commodities and securities fraud, claims ineffective legal representation and procedural violations in his case.　　In a pro se filing submitted on May 28, 2026, Mashinsky argued that his legal counsel failed to adequately represent him and cited the “fruit of the poisonous tree” doctrine, suggesting evidence used against him was improperly obtained. The motion alleges communication breakdowns with his lawyers left him no option but to act without legal representation. “I did not discharge my counsel, but they stopped communicating with me,” Mashinsky stated in court documents.　　The disgraced CEO also attempted to shift blame for Celsius‘s collapse, pointing to alleged market manipulation by former FTX CEO Sam Bankman-Fried. In supporting documents, Mashinsky included text exchanges with Celsius’s ex-Chief Revenue Officer Roni Cohen-Pavon, asserting the latter tried a “hostile takeover” of the platform. Celsius declared bankruptcy in July 2022 during a market downturn that also took down FTX.　　Background on Mashinskys Legal Troubles　　Mashinsky‘s downfall is one of the most high-profile in crypto’s turbulent history. Once at the helm of Celsius, a company that promised

05-31Industry

‘The banks will not accept it’: JP Morgans Dimon escalates battle over stablecoin rewards in CLARITY Act debate

JPMorgan Chase CEO Jamie Dimon on Friday yet again sharply criticized Coinbase CEO Brian Armstrong and warned that the latest version of the Clarity Act could ultimately fail if lawmakers do not address concerns from traditional banks over stablecoin regulation.　　In an interview with Maria Bartiromo on Fox Business, Dimon appeared frustrated by the direction of the debate around stablecoins and digital asset legislation. Asked whether he was satisfied with the current draft of the Digital Asset Market Clarity Act, the crypto market structure bill that will formalize rules around how federal securities and commodities regulators oversee crypto, Dimon said he was not.　　“No, because it allows them to effectively pay interest on deposits, stablecoins or something like that, without protection that they should have,” Dimon said. “The banks will not accept it that way. … I‘m not worried about stablecoins but if it happened I’m telling you I will have nothing to do with it and it will eventually blow up.”　　The comments come amid a growing divide between the banking industry and crypto firms as lawmakers prepare for a key markup process that will determine whether the Clarity Act can advance through Congress. Lawmakers are expected to continue negotiating provisions governing

05-31Industry

Worldcoin - Liquidation pressure takes its toll, but can its price recover fully?

Worldcoin [WLD] has faced intense selling pressure over the last 24 to 48 hours, falling by roughly 10% to 16% after hitting a multi-week high near $0.4146. As a result, the token was hovering around the $0.30-zone at press time, reflecting a sharp shift in market sentiment.　　Initially, buyers drove WLD from $0.2745 to $0.4146, while the RSI surged above 80 and confirmed strong momentum. However, conditions changed rapidly after the peak formed.　　The altcoins price sliced through the 78.6%, 61.8%, 50%, and 38.2% Fibonacci levels with little evidence of sustained demand. This behavior suggested that distribution was replacing accumulation as sellers steadily gained control.　　Source: WLD/USDT on TradingView　　Meanwhile, the RSI fell to 44.99 and remained below its midline. This shift suggested that bearish momentum outweighed bullish pressure. The MACD seemed to reinforce that view too, especially as its bearish crossover continued to produce expanding red histogram bars.　　More recently, WLD attempted a recovery from the $0.2745 base and rebounded towards $0.3026. And yet, the rally stalled beneath the 23.6% Fibonacci level at $0.3076, turning the overhead resistance into a key barrier.　　As a result, sellers retain control for now. Unless WLD reclaims $0.3076 on a decisive close, downside pressure could persist towards $0.2745, where

05-31Industry

AI Document Automation Gains Traction in Legal Industry

Artificial intelligence is rapidly reshaping how legal departments manage documents, streamlining workflows and unlocking efficiency gains that were once unimaginable. AI-driven document automation has gone mainstream, with nearly 70% of legal professionals now using generative AI tools for their work as of 2026, according to the Legal Industry Report ([lawnext.com](https://www.lawnext.com)). Yet, many firms still struggle to integrate these tools effectively, leaving potential ROI untapped.　　For legal teams, AIs most significant impact lies in automating repetitive, document-heavy tasks. Routine processes like contract drafting, legal intake, and compliance monitoring are transforming. Harvey.ai, an AI platform gaining traction across 1,500 organizations globally, highlights how automation creates strategic value by removing bottlenecks at critical stages in the document lifecycle.　　Where Automation Adds Value　　Legal document automation isnt just about producing polished drafts; the real gains come from structuring unstructured data inputs early in the process. For example, AI tools can analyze client emails or intake forms, extracting and organizing key terms into templates. This reduces human error and accelerates workflows, saving hours of manual effort.　　Contract management is a leading use case. Companies like The Adecco Group report saving up to eight hours per week per lawyer by automating routine agreements. AI ensures consistency across documents while allowing

05-31Industry

OpenAI Outlines Playbook for Third-Party AI Model Evaluations

OpenAI has published a comprehensive guide for conducting trustworthy third-party evaluations of frontier AI models, highlighting the importance of rigorous testing frameworks to assess model capabilities and mitigate risks. Released on May 28, 2026, the document offers a detailed playbook for evaluating advanced systems, such as GPT-5.5, in environments where traditional chatbot-style assessments are no longer adequate.　　The guide addresses a growing need for standardized evaluation practices as AI systems become more sophisticated and capable of complex, multi-step tasks. OpenAI underscores that evaluations must go beyond simple question-and-answer setups, advocating for customized “harnesses”—the configurations of tools, prompts, and environments that allow a model to perform a task. These harnesses can significantly affect measured performance, particularly for tasks requiring long-term memory, tool use, or error recovery.　　Three Core Evaluation Areas　　OpenAI identifies three primary claims that evaluations should seek to test:Capability elicitation: Can the model demonstrate the desired ability under optimal conditions？Safeguard performance: How robust are the systems safeguards against misuse or malicious attacks？Comparative performance: How does the model stack up against others under identical conditions？　　To ensure validity, the report emphasizes the need to account for potential distortions such as reward hacking (where models exploit loopholes to achieve high scores), refusals to complete tasks,

05-31Industry

On-Chain Data Suggests XRP Still Overvalued Despite Weak Price Action — More Pain For Bulls?

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.　　Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemis favorite part – in fact, far from it.　　Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.　　When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to

05-31Industry

XRP And XLM Correlation Sparks Hopes Of A Recovery Surge

XRP and XLM are once again drawing attention as their long-standing price correlation fuels expectations of a potential recovery rally. If history repeats itself, the recent move in XLM could signal that XRP is preparing for a bullish breakout of its own, potentially reigniting confidence across the broader XRP ecosystem.　　Could XLM‘s Breakout Be The Catalyst For XRP’s Next Rally？　　Crypto analyst Bird highlighted a compelling structural possibility for XRP, suggesting that if it mirrors the powerful weekly candle recently delivered by XLM, a rapid ascent above the $2 threshold could be imminent. This move would serve as a vital marker, effectively invalidating the recent bearish trend and signaling a new phase of accelerated growth for the asset.　　Such a breakout would do more than just shift the price; it would fundamentally transform market sentiment. By restoring confidence and generating renewed excitement, this surge would likely flood the XRP ecosystem with fresh capital, confirming that the worst of the recent corrective phase is finally behind us.　　For long-term XRP holders, this momentum would act as a catalyst for heightened activity across the entire ecosystem, driving increased liquidity and participation in memes, NFTs, and Automated Market Makers (AMMs). This surge in engagement across XRP and

05-31Industry

Ethereum Flashes A Rare Signal As Open Interest Reaches Highest Level Since 2019

Ethereum is struggling to push above $2,000 as the market prepares for a decisive move that participants on both sides of the trade increasingly recognize as imminent. The price is compressing — and CryptoQuant data has identified a development in the derivatives market that explains why the current level feels like more than a routine resistance test.　　On May 28, Binance recorded a 336,000 ETH increase in 30-day open interest while Ethereum traded near $1,990. That single-venue reading is the highest positive open interest expansion Binance has registered in the current chart since May 2019 — a data point that places the current derivatives activity in a historical context spanning six years of market cycles. This scale of positioning built at this specific price level is not normal market behavior. It is an extreme.　　The expansion was not isolated to Binance. OKX added 106,500 ETH in open interest. Bybit added 34,600 ETH. Deribit added 26,700 ETH. Four major venues simultaneously building derivatives exposure in a compressed window. A combined increase of approximately 503,800 ETH, representing nearly $1 billion in notional positioning, was added in a single session.　　Nearly $1 billion in new derivatives exposure was built around the $2,000 level in a single

05-31Ethereum

Ethereum Price Risks Further Downsides as Leverage Positions Remain Small

For now, Ethereum remains trapped between cautious buyers and traders expecting another move lower. The wider crypto market has also struggled to build momentum in recent weeks, which has added more pressure on large-cap assets like ETH.　　At the same time, many traders appear unwilling to take aggressive positions. That hesitation is becoming more visible in derivatives data, especially in the leveraged market, where activity has slowed sharply compared to earlier periods this year.　　This matters because leverage often plays a major role in sharp crypto price swings. Heavy leverage can fuel fast rallies when prices rise, but it can also increase liquidations during downturns. Right now, the market does not appear crowded with high-risk bets, which changes the way traders are viewing Ethereums next move.　　Ethereum Leveraged Position Analysis　　Crypto analyst CW pointed to the relatively small size of high-leveraged Ethereum positions across the market. According to the latest figures shared online, leveraged long positions currently stand around $1.5 billion, while leveraged short positions sit near $4 billion.　　Even though short positions are larger, the overall scale of leverage remains lower than what traders have seen during major volatility periods in the past. CW explained that this reduces liquidation opportunities for large investors, often

05-31Ethereum

ETH Below $2K: Record Futures OI May Supercharge Volatility

Liquidations, Options, and the Volatility Loop　　The weeks selloff coincided with heavy liquidations across crypto and a sizable options expiry window — two ingredients that can reinforce each other.　　Over a 24-hour span into May 28, roughly $958.8 million in crypto positions were liquidated, with about $897 million being longs, according to CoinDesk. In that same window, CoinDesk reported ETH open interest still rose about 0.61% to 16.39 million ETH. Simultaneously, approximately $8 billion of options notional were set to expire on Deribit around May 29, including roughly $1.4 billion tied to ETH — a near-term gamma event that can amplify realized swings, as noted by CoinDesk.　　How a selloff becomes a cascadePrice breaks a round number (e.g., $2,000), tripping stops and prompting hedges.Perp funding turns, and levered longs face margin calls; forced sells hit thin liquidity.Options dealers adjust delta and gamma hedges into a falling market, selling spot or futures.Downside liquidity gaps widen; more stops and liquidations fire as mark prices slide.Volatility spikes; some shorts cover, others press. The move overshoots until hedging flows subside.　　That loop can run in reverse on sharp squeezes if shorts are crowded. The key is not direction but asymmetry: when leverage is high, small triggers can create

05-31Ethereum

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