Bitcoin is likely consolidating before its next upward push, traders agree, while the macro picture looks tricky for risk assets as the Fed stays hawkish. Key points: Bitcoin continues to range around $103,000 as bulls struggle to keep upside momentum going. Traders favor short-term BTC price gains eventually returning, while overall faith in the bull market varies. Read more
Summer Mersinger is expected to leave the commission three years before her term ends to lead the Blockchain Association. Update (May 14 at 6:58 pm UTC): This article has been updated to include comments from the Blockchain Association. Summer Mersinger, one of four commissioners currently serving at the US financial regulatory body Commodity Futures Trading Commission (CFTC), will become the next CEO of the digital asset advocacy group the Blockchain Association (BA). In a May 14 notice, the Blockchain Association said its current CEO, Kristin Smith, would step down for Mersinger on May 16, allowing an interim head of the group to work until the CFTC commissioner assumes the role on June 2. Though her term at the CFTC was expected to last until April 2028, the BA said Mersinger is set to leave the agency on May 30. Read more
DeFi can disrupt traditional equity markets by addressing systemic barriers in pricing, execution and settlement. Decentralized Finance can democratize access and close the wealth gap. Opinion by: Mike Cahill, co-founder and CEO of Douro Labs Despite the institutional frenzy around crypto and the ubiquitous narrative of democratized access to investing, most of the world population is still barred from traditional wealth-building. Take the US, for example — here, the top 10% of earners own more than 90% of all stocks. On a global scale, it gets even worse: Billions of individuals don’t have the financial literacy, digital tools or minimum funds required to even access the most basic investment opportunities. Read more