Latest Crypto News & Market Updates

Hut 8 Stock Soars 35% Despite Massive $253M Quarterly Loss

Tech　　Hut 8 Stock Soars 35% Despite Massive $253M Quarterly Loss　　Quarterly revenue fell to $71 million, below analyst expectations, but sentiment improved after Hut 8 announced a $9.8 billion, 15-year AI infrastructure deal involving 352 megawatts of leased power capacity.　　Hut 8 Defies Earnings Loss　　Shares of on Wednesday despite the company reporting a net loss of over $253 million for the first quarter of 2026. Investors appeared to focus more on the firms long-term expansion plans and exposure to artificial intelligence infrastructure rather than the quarterly loss itself.　　According to the company‘s , the loss was largely tied to a decline in the market value of its . Bitcoin experienced a lot of volatility over the period, and dropped from highs above $126,000 in October to lows near $60,000 in February. This decline negatively impacted the value of Hut 8’s reserves and weighed heavily on its financial results.　　The company generated more than $71 million in revenue during the quarter, which was a decline of around 22% compared to the previous quarters $88.4 million. The figure also came in below analyst expectations, as FactSet forecasts estimated quarterly revenue closer to $78.5 million.　　Despite the weaker earnings performance, market sentiment improved after Hut 8 a major

05-07Industry

Solana Sees Rising Social Hype, Yet Network Activity Is Falling

Tech　　Solana Sees Rising Social Hype, Yet Network Activity Is Falling　　Data shows social media sentiment around Solana has been rising recently, but network utility has actually followed the opposite path.　　Solana Active Addresses Have Been On The Decline　　In a new post on X, analytics firm Santiment has talked about how a couple of key metrics related to Solana have changed recently. The indicators in question are the Positive/Negative Sentiment and Daily Active Addresses.　　First, the Positive/Negative Sentiment compares the bullish and bearish sentiments related to a given asset that are currently present on the major social media platforms. The indicator works by first separating positive and negative comments containing mentions of the asset using a machine-learning model and then taking the ratio of their counts.　　As the chart below shows, the Positive/Negative Sentiment has been going up for Solana recently, implying an improvement in investor mood around the cryptocurrency.　　Back in February, the indicator had plummeted for Solana as a consequence of the price crash. But even then, its value didnt drop below the 1 level, meaning that sentiment never outright turned bearish, at least from the perspective of this metric.　　From the graph, its visible that the improvement in sentiment was gradual at first, but

05-07Industry

Stablecoin Industry Opposes Bank of England’s Unhosted Wallet Ban

Tech　　Stablecoin Industry Opposes Bank of Englands Unhosted Wallet Ban　　As the UK considers options to attract and develop the crypto industry at home, the Bank of England (BOE) has put forward several proposals for how it might regulate stablecoins to mitigate perceived financial risks.　　These have included a ban on custodial wallets for stablecoin holdings. The UK crypto industry, from stablecoin issuers to Bitcoin hardliners, has predictably taken issue with the ban.　　“This would be a serious misstep for the UK, risking long-term damage that is hard to unwind,” said Benoit Marzouk, CEO of stablecoin issuer tGBP told Cointelegraph.　　Ban could hamper operability and competitiveness　　At the heart of the BOEs approach to stablecoins, which it recently discussed in a series of inquiries before the House of Lords, is protecting the UK banking system.　　The bank argues that unhindered access to stablecoins, which can offer higher yields than traditional banking products, could lead to a run on deposits, and therefore on credit availability from UK banks.　　In March, Bank of England Deputy Governor Sarah Breeden the House of Lords Financial Services Regulation Committee that BOE is “open to other ways of achieving the objective” of credit availability.　　“But I think you would expect us as the financial stability

05-07Industry

Toncoin doubles on growing Make TON Great Again momentum

Tech　　Toncoin doubles on growing Make TON Great Again momentum　　Toncoin (TON) extended its rally overnight as markets braced for the second half of Pavel Durovs seven-step Make TON Great Again (MTONGA) roadmap.　　The token rose from roughly $1.37 to $2.8 at press time, more than doubling in value shortly after Durov said Telegram had become TONs largest validator.　　Source: CoinGecko　　Toncoins rally has pushed it into the top 20 crypto assets by market capitalization, where it now ranks 19th. It has overtaken Chainlink and Canton as its market value climbs to around $7.5 billion, narrowing the gap with Monero.　　Source: CoinGecko　　The layer 1 crypto asset has also led in gains over the past 24 hours, followed by Venice Token, Near Protocol, and MemeCore.　　Telegram brings TON back home　　Telegram is bringing TON, originally known as the Telegram Open Network, back home. Durov said the company would replace the TON Foundation as the primary steward of the network.　　The project was developed by the Durov brothers in 2018 but regulatory issues forced Telegram to stop working on it. TON, then known as The Open Network, later continued under an independent community and the TON Foundation.　　The TON Foundation has driven a number of key initiatives to expand the networks ecosystem.

05-07Industry

Ondo Finance Clears First XRP Ledger Treasury Redemption Into Singapore Bank

Tech　　Ondo Finance Clears First XRP Ledger Treasury Redemption Into Singapore Bank　　Ondo Finance, a leader in the tokenized asset space, announced May 6 the successful completion of the first near-real-time, cross-border redemption of a tokenized U.S. Treasury fund. The pilot program, conducted in collaboration with J.P. Morgans Kinexys, Mastercard, and Ripple, is seen as a significant milestone in bridging the gap between public blockchain infrastructure and global banking systems.　　The transaction involved Ripple redeeming a portion of its holdings in the Ondo Short-Term U.S. Government Treasuries (OUSG) fund. The redemption was executed on the XRP Ledger and triggered a fiat settlement through the Mastercard Multi-Token Network (MTN).　　Ripple characterized the successful test as a foundational shift for the industry.　　“This is a meaningful step toward 24/7 global financial markets,” Ripple said in a statement. “By combining the XRP Ledger with global banking infrastructure, this pilot shows how institutions can execute cross-border transactions in a single integrated flow.”　　The settlement process used J.P. Morgan‘s Kinexys blockchain infrastructure to initiate the fiat payment. The funds were then routed through the bank’s correspondent network to be delivered to Ripples bank account in Singapore. This workflow demonstrates that tokenized assets can be liquidated and settled across international borders and

05-07Industry

LINK Price Prediction: $14.40 Target Emerges as ETF Momentum Accelerates

The Immediate Setup　　Chainlink is displaying textbook breakout behavior at $9.92, sitting comfortably above its entire moving average stack for the first time in months. The 3.55% daily surge pushed LINK through the $9.77 upper Bollinger Band, signaling institutional money positioning ahead of the Bitwise Spot Chainlink ETF approval. With RSI at 65.33 – positioned in the bullish zone without being overbought – and both retail (64.5% long) and smart money (69.3% long) aligned, the setup points toward continuation rather than reversal.　　The derivatives market tells an even stronger story. Despite a 4.83% drop in open interest, the aggressive buying pressure (1.2019 buy/sell ratio) indicates fresh capital entering rather than short covering. When Blockchain.news analyzed similar ETF-driven momentum in other major cryptos, the pattern typically lasted 2-4 weeks before meaningful corrections.　　Key Levels Exposed　　The technical architecture favors bulls right now. LINK has decisively reclaimed the $9.34 SMA-20 as support, with the entire short-term moving average cluster ($9.36 SMA-7, $9.40 EMA-12, $9.29 EMA-26) acting as a launching pad. The immediate resistance at $10.06 looks fragile given the momentum, but the real battle will be at $10.19 strong resistance.　　The 200-day moving average at $11.57 represents the final technical hurdle before higher targets become accessible. The

05-07Industry

JPMorgan, Mastercard and Ripple test tokenized Treasury settlement on XRPL

JPMorgan, Mastercard, Ripple, and Ondo Finance have completed a cross-border, cross-bank redemption of a tokenized U.S. Treasury fund using the XRP Ledger and traditional banking rails.JPMorgan, Mastercard, Ripple, and Ondo tested tokenized Treasury redemption across XRPL and banking rails together.OUSG moved through XRPL while Kinexys delivered dollars to Ripples Singapore bank account in pilot.The pilot adds momentum to tokenized Treasuries as Wall Street waits for clearer rules globally.　　The pilot involved Ondo Finance‘s OUSG fund, a tokenized short-term U.S. government Treasury product. Ripple redeemed part of its OUSG holdings on the XRP Ledger, while Mastercard’s Multi-Token Network sent settlement instructions to Kinexys by J.P. Morgan.　　JPMorgan then moved U.S. dollar proceeds to Ripple‘s bank account in Singapore through its correspondent banking network. The asset leg on the XRP Ledger was processed in under five seconds, according to Ondo’s announcement.　　Ondo Finance President Ian De Bode said, “This milestone represents the first time tokenized U.S. Treasuries have settled across borders and banks in near real time and outside traditional banking windows.”　　Tokenized funds move beyond test cases　　The transaction shows how tokenized assets can connect with banking systems without replacing them. One part of the transaction happened on a public blockchain, while the fiat side moved

05-07Industry

Samsung SDS to build South Korea’s tokenized securities system

Samsung SDS has reportedly won a contract to build and operate a token securities platform for the Korea Securities Depository. Samsung SDS will turn KSDs token securities testbed into a production-ready blockchain platform by 2027.South Koreas new rules will recognize distributed ledgers as legal securities registries under KSD oversight.The project aligns Samsung‘s blockchain infrastructure role with Korea’s tokenized asset market launch timeline ahead.　　The project brings South Korea closer to running blockchain-based securities infrastructure before new rules take effect in 2027.　　The platform is expected to be completed by February 2027. It will move KSDs earlier testbed into a formal system built for transaction processing and stable service operations.　　KSD plans to connect its existing electronic securities account system with blockchain-based distributed ledger data. The system will support tokenized securities issuance, circulation checks, and rights management.　　Samsung SDS will also build a volume management system. The system is expected to track token securities issuance and circulation in real time.　　Samsung SDS builds on earlier KSD work　　Samsung SDS has already worked on KSDs token securities program. The company carried out function-analysis consulting in 2024 and built a testbed platform in 2025.　　The new deal expands that earlier work into a full operating system. It also puts Samsung

05-07Industry

Ondo Finance Clears First XRP Ledger Treasury Redemption Into Singapore Bank

Tech　　Ondo Finance Clears First XRP Ledger Treasury Redemption Into Singapore Bank　　Ondo Finance, a leader in the tokenized asset space, announced May 6 the successful completion of the first near-real-time, cross-border redemption of a tokenized U.S. Treasury fund. The pilot program, conducted in collaboration with J.P. Morgans Kinexys, Mastercard, and Ripple, is seen as a significant milestone in bridging the gap between public blockchain infrastructure and global banking systems.　　The transaction involved Ripple redeeming a portion of its holdings in the Ondo Short-Term U.S. Government Treasuries (OUSG) fund. The redemption was executed on the XRP Ledger and triggered a fiat settlement through the Mastercard Multi-Token Network (MTN).　　Ripple characterized the successful test as a foundational shift for the industry.　　“This is a meaningful step toward 24/7 global financial markets,” Ripple said in a statement. “By combining the XRP Ledger with global banking infrastructure, this pilot shows how institutions can execute cross-border transactions in a single integrated flow.”　　The settlement process used J.P. Morgan‘s Kinexys blockchain infrastructure to initiate the fiat payment. The funds were then routed through the bank’s correspondent network to be delivered to Ripples bank account in Singapore. This workflow demonstrates that tokenized assets can be liquidated and settled across international borders and

05-07Industry

JPMorgan, Mastercard and Ripple test tokenized Treasury settlement on XRPL

JPMorgan, Mastercard, Ripple, and Ondo Finance have completed a cross-border, cross-bank redemption of a tokenized U.S. Treasury fund using the XRP Ledger and traditional banking rails.JPMorgan, Mastercard, Ripple, and Ondo tested tokenized Treasury redemption across XRPL and banking rails together.OUSG moved through XRPL while Kinexys delivered dollars to Ripples Singapore bank account in pilot.The pilot adds momentum to tokenized Treasuries as Wall Street waits for clearer rules globally.　　The pilot involved Ondo Finance‘s OUSG fund, a tokenized short-term U.S. government Treasury product. Ripple redeemed part of its OUSG holdings on the XRP Ledger, while Mastercard’s Multi-Token Network sent settlement instructions to Kinexys by J.P. Morgan.　　JPMorgan then moved U.S. dollar proceeds to Ripple‘s bank account in Singapore through its correspondent banking network. The asset leg on the XRP Ledger was processed in under five seconds, according to Ondo’s announcement.　　Ondo Finance President Ian De Bode said, “This milestone represents the first time tokenized U.S. Treasuries have settled across borders and banks in near real time and outside traditional banking windows.”　　Tokenized funds move beyond test cases　　The transaction shows how tokenized assets can connect with banking systems without replacing them. One part of the transaction happened on a public blockchain, while the fiat side moved

05-07Industry