Author: Vickie Helm

Galaxy was reportedly considering restructuring the merger through Canada after growing concerns about possible SEC opposition. BitGo and Galaxy Digital continue to battle in court over the collapse of a $1.2 billion acquisition deal that was once expected to be the crypto industry’s biggest merger. In a lawsuit filed this week in Delaware Chancery Court, BitGo alleges that Galaxy will withdraw from the deal in 2022 and is now seeking at least $100 million in damages, according to Bloomberg. Bitter court battle The crypto custodian alleges that Galaxy failed to make reasonable efforts to complete the merger and also withheld…

Polygon’s reputation as a trusted DeFi payments layer has come under renewed scrutiny after on-chain researcher ZachXBT reported apparent abuse of the Polymarket UMA CTF adapter contract, a mechanism for resolving prediction market outcomes. This latest hack of the most prominent prediction market platform has seen POL drop by nearly -1% in the past hour, with the token trading at around $0.091. However, depending on the depth of the losses, POL could fall further. The compounding of events raises tougher structural questions about Polygon’s position as the default payment chain for high-profile forecasting and derivatives platforms, and whether the network’s…

According to the data, the Bitcoin Coinbase Premium Index remained at negative levels even as the spot price of BTC recovered towards $78,000. Bitcoin Coinbase Premium Gap points to selling pressure from US traders As analyst Axel Adler Jr. pointed out in a post on X, the Bitcoin Coinbase Premium Index has recently entered negative territory. This indicator tracks the percentage difference between the BTC spot price listed on Coinbase (USD pair) and the BTC spot price listed on Binance (USDT pair). In other words, what this indicator tells us is how a trader’s buying and selling behavior compares between…

Trustworthy editorial content reviewed by industry-leading experts and experienced editors. Advertising disclosure Charles Hoskinson urged Cardano DReps to support the research funding proposal, warning that failure to do so could undermine its identity as a research-driven blockchain, one of the network’s core value propositions. Hoskinson said in a livestream from the UK on May 21 that Cardano is in “financial season” and faces a tougher funding environment than last year. He said the ecosystem is seeking about $52 million in funding this year, down from about $98 million last year, due to budget cuts that have already affected engineers and…

Hunter Biden, the son of former President Joe Biden, is now accepting Bitcoin as payment for his work on his official website. The homepage of Hunter Biden’s official website, hunterbiden.com, features his signature large, bright flower painting, and the footer includes a simple but striking notice that reads “BITCOIN ACCEPTED” next to links to the site’s privacy policy, terms of use, and “Verisart certification.” Verisart offers blockchain-based certificates of authenticity designed to permanently record the origin and ownership of both physical and digital works of art. Mr. Biden’s art career has been dogged by politics from the beginning, with his…

Coins.ph adds BTC and ETH payments to the Philippines’ QRPh system. Users can spend their cryptocurrencies at 700,000 QRPh-compatible merchants. Stablecoins remain important for remittances and daily cryptocurrency payments. Coins.ph has expanded its QRPh crypto payment capabilities to support Bitcoin and Ethereum transactions, expanding the use of digital assets within the Philippines’ national QR payment infrastructure. The Manila-based cryptocurrency platform announced on May 19 that users can now pay merchants nationwide using Bitcoin (BTC) and Ethereum (ETH) through QRPh, the national QR code standard developed by the Bank of the Philippines (BSP). This expansion builds on Coins.ph’s early rollout of…

Market analysts say Bitcoin (BTC) is showing “draining momentum” after falling 8% from its multi-month high of over $82,000, and bulls are expected to defend key key support levels. Important points:Bitcoin’s momentum weakens after being rejected above the $82,000 level. Analysts warn that BTC could fall to $65,000 if the support between $74,000 and $76,000 fails.Bitcoin price momentum is “weakening”Private asset management firm Swissbloc said Bitcoin’s momentum is weakening. Failed to “sustain expansion” over $82,000. swiss block said Bitcoin’s positive momentum is losing momentum with each bounce. Recently fell to $76,000. Related: Bitcoin price remains below $77,000 as US Treasury…

Ether and altcoin analysts at JPMorgan said the token will not overtake Bitcoin unless network activity increases significantly. summary JPMorgan said that without meaningful improvements in DeFi and real-world use cases, Ether and altcoins will continue to lag behind Bitcoin. The Bitcoin Spot ETF has recovered two-thirds of recent outflows, while the Ether ETF has recovered only one-third. The bank warned that future Ethereum upgrades may prevent Gramsterdam and Hegota from raising network demand on their own. JPMorgan said Ether and the broader altcoin market are unlikely to reverse years of underperformance versus Bitcoin unless there is a significant recovery…

The SEC is finalizing an “innovation exemption” framework this week that will allow regulated cryptocurrency platforms to list tokenized versions of stocks like Apple and Tesla and trade them 24/7 without ever touching the New York Stock Exchange. On the surface, this sounds like the biggest bridge ever built between TradFi and cryptocurrencies, and Wall Street is taking notice. Currently, companies like Ondo Finance and Hyperliquid will benefit the most. BREAKING: The SEC has announced that the so-called "Innovation exemption" According to Bloomberg, tokenized stocks will pave the way for trading digital versions of securities. Details include: 1. at "Amazing…

Despite the short-term weakness, Lee still sees tokenization and AI-related infrastructure as long-term drivers for ETH. Rising oil prices are the biggest reason why Ethereum (ETH) is struggling, according to Bitmine Chairman Tom Lee, who says the inverse correlation between the two assets has reached an all-time high. His observations come at a time when ETH is trading around $2,100, down about 3% in 24 hours and 12% in the last month. oil connection Lee expressed his thoughts in a post on X on May 18th, stating that as oil prices have risen over the past six weeks, ETH has…