Latest Crypto News & Market Updates

Saudi Arabia and Kuwait reverse base restrictions, clearing path for Project Freedom restart

Saudi Arabia and Kuwait have lifted their bans on U.S. military use of their bases and airspace, removing the main obstacle to resuming Project Freedom, the American naval operation to escort commercial ships through the Strait of Hormuz.　　The reversal comes just days after both Gulf states blocked U.S. access to key military infrastructure. Saudi Arabia had denied use of Prince Sultan Airbase and overflight rights, with Kuwait imposing similar restrictions shortly after.　　U.S. equity markets then fell in response to reports President Trump was preparing to restart the operation.　　BREAKING: US equity markets fall on reports that President Trump is preparing to restart “Project Freedom” in the Strait of Hormuz. pic.twitter.com/4eHu6HjsVs　　— The Kobeissi Letter (@KobeissiLetter) May 7, 2026　　What triggered the Project Freedom shutdown　　Project Freedom launched earlier this week as a U.S.-led effort to secure the Strait of Hormuz, the chokepoint that handles roughly 20% of global oil trade. The operation used naval destroyers, fighter jets, helicopters, and drones to escort commercial vessels through the waterway amid escalating tensions with Iran.　　The initial phase worked. Two U.S.-flagged ships were guided out of the Persian Gulf under military escort. However, the operation provoked a sharp Iranian response, including cruise missile and drone strikes on U.S.

05-08Industry

Americans Overwhelmingly Support Major Crypto Bill, Poll Shows

Crypto　　Americans Overwhelmingly Support Major Crypto Bill, Poll Shows　　Bipartisan consensusNational security as a key driver　　A new national survey conducted by polling firm HarrisX reveals that a majority of American voters across the political spectrum are demanding clear federal regulations for digital assets, showing strong support for the passage of the CLARITY Act.　　According to the study, which surveyed 2,008 registered voters, Americans are increasingly prioritizing U.S. leadership in digital finance and want the current regulatory ambiguity resolved through definitive legislation.　　Bipartisan consensus　　The poll indicates that the CLARITY Act enjoys robust bipartisan backing, a rare feat in the current political climate. Overall, 52% of voters expressed support for the legislation, while only 11% opposed it.　　Americans Overwhelmingly Support Major Crypto Bill, Poll Shows　　‘Kind of Sad’: Ripples Schwartz Hesitates to Share Bullish Crypto Views　　When breaking down the net support (approval minus disapproval), the data shows that the push for clear digital asset rules effectively bridges the traditional partisan divide.　　The net support among the Democrats is at 48 percent. It is at 43 among the Republicans and 32 percent among the independents.　　The HarrisX data shows a growing consensus among the electorate regarding the future of digital finance.　　Voters overwhelmingly favor the establishment of clearer rules and enhanced consumer

05-08Industry

SoFi’s crypto relaunch brought in $121.6 million in Q1. Almost all of it went to costs

Nationally chartered U.S. bank SoFi‘s relaunched crypto business generated $121.6 million in crypto transaction revenue in the first quarter, its first granular disclosure of the unit’s economics since the bank returned to the cryptocurrency space late last year.　　That revenue was almost entirely offset by $120.7 million in related transaction costs, leaving just $852,000 in net crypto transaction revenue, according to the companys latest quarterly filing.　　The company reported earnings of $0.12 per share on a GAAP basis, or about $0.13 on an adjusted basis, up from $0.06 a year earlier.　　SoFi said it records crypto transactions on a gross basis because it acts as principal, buying crypto from or selling it to third-party liquidity providers before transferring it to or from customer accounts. The structure appears similar to a brokerage model, where the platform intermediates trades rather than taking directional risk.　　The company reported “239,509 crypto accounts” as of March 31, a metric that captures the total number of accounts opened through its platform, rather than active traders.　　The figures give the first public read on SoFis crypto business since its in-app trading launch in November.　　SoFi had outlined its return to crypto in June, with plans for crypto investing and blockchain-based remittances..　　SoFi said that

05-08Industry

Changelly report highlights growing stablecoin use in everyday spending ahead of May 15 infrastructure discussion

Tech　　Changelly report highlights growing stablecoin use in everyday spending ahead of May 15 infrastructure discussion　　May 6, 2026 — Changelly has published new findings on stablecoin usage trends, indicating a shift from trading-focused activity toward everyday payments, portfolio liquidity management, and consumer spending behavior.　　The report combines Changelly platform data from 2025 with survey results conducted jointly by among more than 3,000 users. According to the findings, stablecoins are increasingly being used as active financial tools rather than solely as trading infrastructure.　　To further explore these developments, Changelly will host a live discussion titled “The Rise of Stablecoins: Infrastructure Every Business Must Build” on May 15, 2026. The session will feature John Adam Khandjian, CGO at Changelly, and Alex Emelian, CEO and Co-Founder of Stablerail, discussing how stablecoin infrastructure is evolving for businesses involved in international transactions.　　Stablecoin activity expands beyond trading　　According to the report, stablecoin supply surpassed in 2025, while annual on-chain transaction volume approached .　　Changellys internal data showed that:23.78% of completed transactions involved stablecoinsStablecoin transaction sizes were approximately five times larger than non-stablecoin transactions　　The report also found that stablecoin swap participation increased 33% year-over-year, while flows between crypto assets and stablecoins remained relatively balanced, suggesting users increasingly treat stablecoins as an active

05-08Industry

Markets Stumble As US Military Reportedly Attacks an Iranian Oil Tanker in the Strait of Hormuz

Oil traders also began reassessing whether the latest confrontation would materially disrupt shipping flows or remain a contained military standoff.　　The quick decline in crude prices surprised some analysts who had expected immediate supply fears to drive another energy spike.　　Traders are now closely monitoring further statements from Tehran, Washington, and US Central Command for signs of escalation or de-escalation.　　Any confirmed disruption to shipping activity in the Strait of Hormuz could reignite volatility across oil, equities, and crypto markets.　　The post Markets Stumble As US Military Reportedly Attacks an Iranian Oil Tanker in the Strait of Hormuz appeared first on BeInCrypto.

05-08Industry

Amprius (AMPX) Stock Plunges 27% Despite Q1 Revenue Surge of 153%

Amprius Technologies, Inc., AMPX　　The company generated $28.5 million in quarterly revenue — marking a 153% increase compared to the prior-year period and climbing 13% sequentially from Q4 2025. This performance exceeded Wall Streets consensus forecast of $25.32 million by approximately 12.7%.　　However, profitability metrics told a different story. AMPX posted a per-share loss of $0.04, significantly worse than the -$0.0278 loss analysts had projected. This 43.88% earnings shortfall prompted the sharp sell-off in extended trading.　　$AMPX with a massive revenue beat in Q1, they just missed the EPS estimates.　　The stock is down 7% in aftermarket but on the first sight there is a lot to like about these earnings.　　1. Huge Backlog: $500 Million in Defense Orders　　This is a big win. While the companys current… pic.twitter.com/7u9mlQOYod　　— KaizenInvestor (@Kaizen_Investor) May 6, 2026　　Profitability margins also contracted during the quarter, with gross margin declining to 20% from the previous quarter‘s 24%. CFO Ricardo Rodriguez attributed this compression to elevated overhead expenses associated with the company’s SiMaxx platform — approximately $3 million in fixed costs against just $618,000 in SiMaxx-related revenue.　　The SiCore battery product line has emerged as the primary revenue driver, representing 97% of total product sales during the quarter. The legacy SiMaxx platform continues its

05-08Industry

BitMine may slow ETH buying pace as it nears 5% supply goal

BitMine Chairman Tom Lee said the company may slow the pace of its Ethereum purchases as it moves closer to its goal of holding 5% of the total ETH supply.　　Lee made the comments Thursday at Consensus 2026 in Miami, saying BitMine is evaluating whether it wants to keep accumulating ETH at its current pace. He said the company could reach its 5% target in about six weeks if it continues buying at the same rate.　　I do think we‘re going to slow down our pace of buying, Lee said on stage. I’m not sure we want to get to 5% too quickly.　　BitMine has been one of the most aggressive Ethereum treasury buyers in the public market. The company said Monday that it held 5.18 million ETH as of May 3, representing 4.29% of Ethereums total supply of 120.7 million ETH. BitMine said it was 86% of the way toward what it calls the Alchemy of 5%, after buying 101,745 ETH in the previous week.　　Lee said BitMine may now accumulate at a slower pace because there are other things to be doing in crypto. He pointed to the companys recent move to the New York Stock Exchange, its $4 billion share repurchase

05-08Ethereum

Bitwise Unveils Tokenized Crypto Carry Fund Targeting BTC, ETH, XRP Yield

Crypto ETF issuer Bitwise has unveiled its Crypto Carry Fund, which will target yields from the difference in the spot and futures prices of crypto assets such as Bitcoin, Ethereum, and XRP. This is notably the asset managers first tokenized Fund and comes as the tokenization momentum heats up.　　Bitwise Debuts Crypto Carry Fund, Taking Over Superstates Tokenized Fund　　In an X post, the crypto ETF issuer announced its Crypto Carry Fund (USCC) in partnership with Superstate, noting it was a major step forward in how they serve institutional investors on-chain. The tokenized Fund, which originally belongs to Superstate, will become under Bitwises management from June 1.　　The asset manager noted that the USCC ticker, smart contracts, and token address will remain unchanged despite the name change from the Superstate Crypto Carry Fund to the Bitwise Crypto Carry Fund. Meanwhile, Superstate will continue to operate the on-chain infrastructure through its lRWA tokenization platform, FundOS, which has tokenized several top RWA assets.　　The Fund currently boasts over $267 million in assets under management (AUM), and the tokenized Fund seeks to earn yield through the crypto cash-and-carry trade, which is a strategy that generates yield from the gap between the spot and futures prices of Bitcoin,

05-08Ethereum

BNY to Launch Institutional Bitcoin, Ethereum Custody for Investors in UAE

BNY has partnered with Abu Dhabi-based Finstreet and ADI Foundation to develop institutional digital asset custody services for clients in the United Arab Emirates.　　The initial focus is on Bitcoin and Ether custody for Finstreet‘s existing clients, with plans to later extend to ADI Foundation’s blockchain infrastructure, the worlds largest custodian said in a Thursday announcement. The companies said they intend to expand the product scope to include stablecoins, tokenized real-world assets and other regulated digital instruments, though no timeline was given.　　“BNY is uniquely positioned to connect traditional and digital financial ecosystems,” Hani Kablawi, executive vice chair at BNY, said. BNY claimed it is the first US global systemically important bank to offer digital asset custody.　　The three firms will offer digital asset custody services from the Abu Dhabi Global Market (ADGM), an international financial center and free zone on Al Maryah Island. The initiative remains subject to definitive agreements and regulatory approvals, according to BNY.　　UAE stablecoin infrastructure expands　　Finstreet is a subsidiary of Sirius International Holding, which is backed by UAE conglomerate IHC. IHC recently joined other institutions in launching DDSC, a dirham-backed stablecoin regulated by the UAE central bank. The stablecoin operates on ADI Chain, an institutional layer-2 blockchain developed by

05-08Ethereum

JaredFromSubway.eth sandwich attacked Vitalik Buterin

MEV-focused extraction bot JaredFromSubway.eth front- and back-ran an Ethereum trade by Vitalik Buterin, getting away with about two-thousandths of an ether (ETH).　　Ethereum founder Buterin was selling a token airdrop, DigitalBits, when he fell victim to the garden-variety sandwich attack.　　The name “JaredFromSubway” refers to Jared Fogle who lost nearly 250 pounds while earning a TV sponsorship from Subway. After his weight loss fame faded, however, the world learned of Fogles sexual misconduct involving minors, including a criminal conviction.　　He remains imprisoned with an expected release date of 2029.　　Crypto, of course, has a dark sense of humor, and despite his legal troubles, someone decided to name a maximum extractable value (MEV)-focused extraction bot after him. Fogle, who has limited internet access in prison, doesnt control the bot.　　The trader bearing an ENS name with Fogle‘s brand extracted value from Buterin’s transaction inside Ethereum block 24993038.　　Another sandwich attack by JaredFromSubway.eth　　Buterin routed 26,544 DigitalBits (XDB) tokens through the Uniswap V2 router with his slippage parameter amountOutMin set to zero. That setting accepted any non-zero output.　　Buterin received 0.00197 ETH, worth a little under $5 at the time.　　JaredFromSubway.eth, watching the public mempool, noticed Buterins unprotected swap and inserted itself onto both sides of his transaction.　　In the position immediately

05-08Ethereum

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