Crypto

Investors selling across spot, futures and ETF markets pushed Bitcoin into its monthly range lows near $72,000 but data shows retail investors buying the dip and opening longs. When Bitcoin (BTC) finally escaped from its channel pattern and secured a multiple-day close above the $77,000 resistance, traders rejoiced and declared the downtrend over.  Fast-forward to the present and BTC has fallen below multiple support levels and appears at risk of retesting $70,000, a 16% decline from its range highs.  Read more

Gemini is leaning into AI features for its prediction market, following other crypto exchanges in moving beyond crypto trading amid a market slump. Crypto exchange Gemini has partnered with Elon Musk’s SpaceXAI to launch an artificial intelligence-powered feature for its prediction markets platform that will allow users to curate personalized feeds. Gemini said on Thursday that its “Command Center” offering would show markets based on users’ open positions and watchlists, and can track crypto, sports, commodities, politics, economics and culture. “Rather than forcing you to dig through social feeds to find what's relevant, Command Center meets you where you are,” Gemini said. “It learns from your open positions, watchlists, and prediction history to surface the intelligence most likely to inform your next move.” Read more

AlphaRaccoon's username was removed from the Polymarket account after users on Discord and X speculated that the trader may have been a Google insider.

Bulls abandon ship as SOL futures open interest dropped 30% in May. With the price weakening near $80, Solana may be destined for new lows. Solana (SOL) futures dropped sharply in May as traders reduced leveraged exposure across all exchanges. SOL open interest (OI) dropped to $1.90 billion on Thursday from $2.75 billion on May 11, a 30% decline, while funding rates remained close to neutral. The combination points to weakening investor sentiment as SOL eyes a retest of its yearly low at $68.  The aggregated funding rate for Solana futures held near -0.005, showing balanced positioning between longs and shorts. SOL traders have not built aggressive directional bets despite the recent price slide to $80. Read more

The investment firm said nation-states and central banks are increasingly turning to assets like Bitcoin and gold as alternative settlement systems outside of US control. Recent moves by the Iranian government to Bitcoin for oil tolls as gold overtakes US dollar assets in global central bank reserves signals a “shift away from dollar-based systems,” according to crypto financial services company Fidelity Digital Investments. Tehran's acceptance of BTC for oil shipments passing through the Strait of Hormuz represents the emergence of “alternative settlement mechanisms,” according to the company’s just-released "Six Key Trends Shaping Digital Assets in 2026" report.  Accepting Bitcoin for shipping toll payments is evidence that the biggest cryptocurrency could replace the US dollar as the global reserve currency because of its neutral, confiscation-resistant and decentralized properties, supporters of BTC say. Read more

Kalshi sued Minnesota while the CFTC filed against Rhode Island as legal wrangling with state-level authorities seems likely headed to the US Supreme Court. The US Commodity Futures Trading Commission (CFTC) and companies behind prediction market platforms are continuing legal fights against state-level authorities, with the latest battlegrounds centered in Rhode Island and Minnesota. Last week, Minnesota Governor Tim Walz signed a bill into law amending statutes to prohibit advertising, creating, operating or otherwise facilitating prediction market platforms. The move prompted CFTC Chair Michael Selig to file in federal court less than 24 hours later, alleging Minnesota and its officials had enacted the “first outright ban” on prediction markets. Source: PACER Read more

As more than $1 billion exited spot Bitcoin ETFs last week, Calamos says investors are rotating into Bitcoin products with built-in downside protection.

The purchase pushed the Nasdaq-listed company ahead of Coinbase Global to become the fourth-largest public corporate holder of Ether, according to CoinGecko data. Bit Digital purchased $20 million worth of Ether earlier this month, increasing its holdings to roughly 158,462 ETH. The Nasdaq-listed company said Thursday it acquired 8,568 ETH (ETH) on May 11 at an average price of $2,334.25 per token. CEO Sam Tabar said the purchase reduced Bit Digital’s average ETH acquisition cost and was part of the company’s strategy to grow net asset value per share through Ethereum accumulation, AI infrastructure and acquisitions. Read more

Claude maker Anthropic said annualized revenue surpassed $47 billion as it expands cloud and compute partnerships.

The leader of the regulator's Crypto Task Force said privacy-enhancing technologies can strengthen investor protection and urged regulators not to treat them with suspicion. US Securities and Exchange Commission (SEC) Commissioner Hester Peirce said financial privacy is becoming increasingly undervalued in US regulation, warning against treating privacy-preserving technologies with suspicion. Speaking Wednesday at Georgetown Law, Peirce described privacy-enhancing technologies, including cryptographic tools, as legitimate components of modern financial infrastructure rather than tools primarily associated with criminal activity. Peirce said that protecting financial privacy does not conflict with national security objectives. Read more

Bitcoin’s slide toward $73,000 triggered active distribution signals, but lowered realized losses and weak spot volumes point to easing sell pressure. Bitcoin's drop below $73,000 on Wednesday marks a short-term turning point for the market, as multiple BTC distribution signals point toward rising sell-side pressure.  While the increasing chance of a correction into the $60,000 to $70,000 range remains in play, long-term holder data points to improving investor sentiment, suggesting that traders view the current price as a buying opportunity. Crypto analyst CryptoOnChain noted that Bitcoin’s drop to $72,500 followed a period of weakening spot demand and unsustainable long positioning in derivatives markets. The Coinbase premium index posted a -1,083% deviation from its three-month average, one of the deepest discounts recorded since 2025. Read more

The future of a digital asset market structure bill in Congress is still uncertain amid concerns over ethics provisions, with the president, whose crypto ties are under scrutiny, weighing in on social media. US President Donald Trump said Wednesday that he intended to codify a “future-proof digital asset market structure,” likely referring to the Digital Asset Market Clarity Act (CLARITY) under consideration in the US Senate. In a post to his Truth Social platform for the second time this week on policy claims potentially affecting the cryptocurrency industry, Trump said the law would prevent “crypto haters” in future administrations from rolling back regulations affecting digital assets. Source: Donald Trump Read more

Researchers in China built a model that uses an AI’s downtime to prepare for users’ next question before they ask it.

The European Union's Markets in Crypto Assets regulations first took effect in 2024, but gave crypto service providers time to fully comply with the framework. The French Financial Markets Authority (AMF) warned that crypto companies operating in the country without a license have until June 30 to acquire the permits or exit the country. AMF President Marie-Anne Barbat-Layani told a press event on Thursday that crypto companies that fail to obtain a license by the deadline must have "orderly wind-down ⁠plans" to offload customers and end their operations, according to Reuters. Under the European Union’s Markets in Crypto Assets (MiCA) regulatory framework, crypto service providers are required to have licenses to operate, but can acquire a license in any of the 27 EU member states and “passport” the license to any of the other member nations. Read more

Despite the regulation milestone, AAVE token prices remained under pressure alongside the rest of the crypto market.

Blockchain network Sui is suffering another period of significant downtime barely five months after the last "network stall."

FalconX has hired Cantor and other bankers to advise on a potential IPO and confidentially filed draft paperwork with the SEC, though the listing is not expected until later this year amid volatile market conditions.

Rendered illustrations published ahead of WWDC 2026 reveal a dedicated Siri app, Dynamic Island integration, and a Google Gemini backbone—the biggest overhaul to the assistant in nearly 15 years.

In this week's edition of The Protocol Newsletter, we're diving deep into the institution that has been the main steward for the Ethereum blockchain, and why its been back in the spotlight.

Prediction market giant Kalshi has asked a federal judge to prevent Minnesota from allowing the ban to go into effect in August.