Crypto Industry News & Market Trends

Yankees Voice Expects New York Star To ‘Suffer’ For Donald Trump Decision

As one of the most popular and lucrative franchises in professional sports, the New York Yankees typically try to remain apolitical, at least formally.　　But U.S. President Donald Trump has underscored his deep ties to the franchise through former owner George Steinbrenner, who was a friend of Trump‘s. Since becoming president, Trump has been outspoken about his affection for Steinbrenner and the team and he visited the team’s clubhouse after a game to commemorate 9/11 last year.　　More recently, he even leveraged a White House visit from a championship soccer team to discuss the franchise.　　“Musing on sports while welcoming Lionel Messi and MLS champion Inter Miami to the White House… Trump mentioned that when ‘baseball was hot as a pistol,’ he used to sit with late New York Yankees owner George Steinbrenner and watch games,” Jesse Yomtov wrote for USA Today. “Trump joked that watching three-hour games with Steinbrenner was the hardest thing he ever had to do. ‘(Steinbrenner) liked me, I liked him and we both liked nobody else,’ Trump said.”　　New York Yankees Broadcaster Calls For New York Giants‘ Quarterback To ’Suffer After Endorsing President Donald Trump　　But even though the president is an outspoken fan of the franchise, not all of

05-28Industry

Bitcoin Below Strategy Cost Basis: BTC At $73,270

Bitcoin dropped to $73,270 on May 28, 2026, falling below Strategy‘s average acquisition cost of $75,700 for the first time. The company’s entire 843,738 BTC position, worth $63.87 billion at cost, is now underwater on paper by roughly $2 billion.　　This is the level the market has been watching for two weeks. The $74,500 floor that held three separate tests finally broke, and BTC kept falling. The “Saylor floor” that traders relied on as a defensive bid zone did not hold.　　What Just Happened　　The weekly chart opened at $77,520 and sold off in a near-straight line through the week. BTC lost $74,500 on May 27, then accelerated lower to $73,270 on May 28, the lowest level since March 2026.　　The break below Strategy‘s $75,700 cost basis is significant for a specific reason. Strategy holds 843,738 BTC, roughly 4% of Bitcoin’s total supply, and has been the single most consistent corporate buyer since 2020. The market priced in defensive accumulation near the companys average cost. That bid either did not show up, or it was overwhelmed by selling pressure.　　Now Strategy faces an unrealized loss on its entire position. Q1 2026 already reported a $12.54 billion net loss from a Bitcoin impairment. This drop adds

05-28Industry

8Blocks: Why Most Tokenomics Fail Before Launch

Deep private-sale discounts can help a project raise capital faster. They also create an uneven market before trading begins. When private investors enter far below public valuation, they have a profitable exit even after a severe price drop. Public buyers carry much more risk from day one.　　Short freeze periods intensify the pressure. A token can look healthy while supply remains locked. Once vesting begins, the market must absorb tokens from investors, team members, advisors, ecosystem funds, and campaign participants. If these unlocks arrive before the product has meaningful traction, price support depends mainly on new buyers.　　Weak utility makes the same problem worse. Many projects present staking as token utility. Staking may reduce circulating supply for a period, but it rarely creates organic demand on its own. If users hold the token mainly to earn more of the same token, the model depends on confidence, rewards, and market mood.　　Real utility gives the token a necessary role inside the product. It may connect to access, payments, governance with actual influence, collateral, fees, or economic participation. The details vary by project. The core point is simple. A token needs a reason to be used after launch.　　Large airdrops can also damage the early market.

05-28Industry

Australian Dollar: Faces corrective phase versus New Zealand Dollar – MUFG

MUFGs Derek Halpenny and Abdul-Ahad Lockhart report that the AUD/NZD rally may have peaked as rate differentials begin to turn. They stress that the Reserve Bank of New Zealand (RBNZ) signalled forthcoming hikes, while the Reserve Bank of Australia (RBA) can pause longer. Their empirical work suggests that if spreads compress, the recent sharp AUD/NZD drop could mark the start of a broader downside correction.　　Rate spread turn threatens AUD/NZD gains　　“We covered the Australian dollar in the FX Weekly (here) that we released on Monday with the key message that the strong gains for the Australian dollar may be coming to end and that if rate spreads as a driver of FX was returning as a more dominant driver then there were potential headwinds ahead for AUD.”　　“The RBNZ meeting yesterday potentially marked a turn in that spread, which is likely to see some of that near 14% gain in AUD/NZD reverse. The RBNZ made clear that a hike was coming and the split 3-3 vote that kept the policy rate unchanged at 2.25% (Governor Bremans vote to hold swung the decision) was accompanied with a communication of hikes to come.”　　“We see a hike at the next meeting in July, which is

05-28Industry

Aave Labs subsidiaries receive FCA approvals for UK expansion

Aave Labs subsidiaries Push Labs Limited and Push Virtual Assets Limited have received approval from the UK Financial Conduct Authority to operate as registered cryptoasset exchange providers in the country.Aave Labs subsidiaries have secured FCA approval to operate as registered cryptoasset exchange providers in the UK.The registrations add to Aave Labs existing electronic money authorization and support its planned rollout of zero-fee on-chain financial services.　　According to an announcement shared with crypto.news, the registrations add to the groups existing FCA Electronic Money Institution authorization and create a dual regulatory structure that allows the company to offer regulated cryptoasset services alongside electronic money operations in the UK.　　The approvals come as Aave Labs continues expanding its regulated presence across Europe following its November 2025 authorization under the European Unions Markets in Crypto-Assets Regulation framework. At the time, Push Virtual Assets Ireland Limited secured a Crypto-Asset Service Provider license from the Central Bank of Ireland, allowing the company to passport services across the European Economic Area.　　Stani Kulechov, founder and CEO of Aave Labs, said the UK registrations provide the regulatory base needed to launch “next-generation, zero-fee onchain consumer financial products” in the market.　　“With regulatory permissions now established across both the UK and EEA, we

05-28Industry

Kohls (KSS) earnings Q1 2026

stock jumped more than 8% in premarket trading Thursday after the retailer reported its best comparable sales performance in four years.　　The retailer said its net sales decreased 1.7% and its comparable sales slid 1.1% in its fiscal first quarter as it aims to turn around its business and regain market share. In the prior quarter, Kohls reported that comparable sales dropped 2.8% from the previous year.　　Heres how the company performed in its fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Loss per share: 13 cents vs. 19 cents expectedRevenue: $3 billion vs. $2.99 billion expected　　For the period ended May 2, Kohls reported a net loss of $14 million, or 13 cents per share, compared to a net loss of $15 million, or 13 cents per share, the year prior. Revenue declined from $3.05 billion to $3 billion.　　Kohls reaffirmed its full-year outlook, expecting net sales and comparable sales to be in a range of down 2% to flat. It expects adjusted earnings per share of between $1 and $1.60.　　“We are pleased with our start to 2026,” CEO Michael Bender said in a statement. “Our key initiatives continue to drive progressive improvements to

05-28Industry

Trump Says He Saved Crypto From Gensler’s “Anti-Crypto Army”

Trump pledged to codify a future-proof digital asset structure that crypto haters cannot undo.SEC Chair Atkins declared the era of SEC being at odds with crypto innovation is officially over.Gensler pursued regulation by enforcement, suing Coinbase and Binance instead of writing clear rules.　　President Donald Trump posted a sweeping statement on Truth Social declaring that Gary Gensler and what he called the Anti-Crypto Army nearly destroyed the American crypto industry by driving Bitcoin, crypto perpetuals, and innovation offshore.　　“TRUMP saved it,” the post read. “America is now the CRYPTO CAPITAL of the WORLD.”　　Trump pledged to codify a future-proof digital asset market structure that cannot be undone by crypto haters, describing the new frontier of finance as being built in America. “TRUMP will NEVER let crypto down,” the post concluded.　　The SEC Responds in Kind　　The statement landed alongside a significant shift in tone from the SEC itself. Chair Paul Atkins declared that the era of the SEC being at odds with technology and innovation is over.　　“Under President Trumps leadership, and alongside colleagues across the administration and Congress, we are delivering much-needed clarity to digital asset markets,” Atkins said.　　Who Was Gary Gensler and Why Did Crypto Hate Him　　Gensler, who previously taught a cryptocurrency technology course

05-28Industry

BlackRock’s Bitcoin ETF records largest net outflow since January

BlackRock, the worlds largest asset manager, has recorded the second-largest single-day outflow in the history of its Bitcoin (BTC) fund launched in 2024.　　Specifically, the iShares Bitcoin Trust ETF (IBIT) posted $527.8 million in redemtpions on May 27, judging by the data available at press time. The figure was only surpassed by the $528.3 million pulled on January 30, with ‘only’ $500,000 needed to break the record.　　U.S. spot Bitcoin ETFs collectively recorded $733.4 million in net outflows the same day. Alongside BlackRock, Grayscale‘s GBTC fund saw the biggest losses, shedding $104.8 million, followed by Fidelity’s FBTC, which shed $60.30 million. Morgan Stanleys MSBT fund was the only one with a positive net change, adding $4.3 million.　　Overall, the figure represented the biggest collective daily outflow for institutional holders since January 29, 2026.　　BlackRock daily Bitcoin flows. Source: Bitcoin price drops as BlackRock posts record outflows　　The flagship cryptocurrency reacted negatively to the institutional outflows, dropping nearly 3.4% and trading at $73,310 at the time of writing. The decline is all the more notable considering that President Donald Trump has promised to codify the Clarity Act.　　24-hour BTC price. Source: Finbold　　Spot ETF redemptions coincided with a sharp derivatives market unwind, as more than $296 million in

05-28Industry

Crypto PACs Help Decide Key Texas Runoffs as Congress Rewrites Digital Asset Rules

Victories by candidates backed by crypto-focused PACs in a politically influential state could give the industry additional allies as those measures advance.　　Crypto money reshapes key Texas races　　Two races in particular show how that money is being deployed. Protect Progress, an affiliate of the Fairshake super PAC backed by firms including Ripple and Coinbase, reported spending about $5 million to support Menefee and a further $2.8 million on advertising opposing Green in the Houston race.　　Another crypto-focused group, Fellowship PAC, funded in part by financial firm Cantor Fitzgerald and crypto custodian Anchorage Digital, reported roughly $500,000 in spending to boost Paxton over Cornyn in the Senate runoff.　　Fairshakes Republican affiliate, Defend American Jobs, also backed four winning Republican candidates, Jon Bonck, Tom Sell, Carlos De La Cruz and Alex Mealer.　　Texas runoffs test cryptos political power　　Bitcoin-focused policy advocate Dennis Porter commented on Menefees victory, saying, “A pro crypto Democrat just ousted a 20-year incumbent Democrat who was anti crypto. Nature is healing,” a nod to what many in the industry saw as years of Democratic-led “Operation Choke Point 2.0,” campaigns, in which bank regulators and enforcement agencies have been accused of squeezing crypto firms out of the financial system.　　While much of crypto PACs‘ recent

05-28Industry

Bitcoin Price Today: BTC Sinks Below $73,000 as US-Iran Trade Strikes

as renewed U.S.-Iran hostilities weakened risk appetite and pushed traders back into defensive positioning. BTC dropped to about $72,500 before recovering to near $73,303 as of press time, down 3.54% in the last 24 hours.　　The decline followed fresh military actions between Washington and Tehran, which tested the fragile ceasefire and reduced market hopes for a near-term peace agreement. Irans Islamic Revolutionary Guard Corps said it a U.S. air base after U.S. strikes hit Iranian drones and a launch site near the Strait of Hormuz.　　The latest move also came as crypto sentiment weakened sharply. The Crypto Fear & Greed Index fell to 22, returning to the “Extreme Fear” zone. Market data showed more than 166,000 traders were liquidated over the past 24 hours, with total liquidations reaching about $932 million.　　US-Iran Strikes Pressure Risk Assets　　The around the Strait of Hormuz remains a key market concern because the waterway is one of the worlds most important oil transit routes. Oil prices rebounded after the fresh strikes, reversing prior losses linked to reports of progress in peace talks.　　Brent crude rose about 2.5% to $96.63 per barrel, while West Texas Intermediate climbed to about $90.93. The rebound showed that traders are still pricing risk around

05-28Industry

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