Crypto Industry News & Market Trends

CLARITY Act: Galaxys Alex Thorn Reveals Secret To Securing Bipartisan Support

Galaxy Digitals Alex Thorn says the newest edition of the CLARITY Act could get a much-needed bipartisan boost. For this, he spotlighted a surprising addition with Senators John Kennedy and Elizabeth Warren.　　Alex Thorn Reveals How CLARITY Act Could Get Bipartisan Backing　　The U.S. Senate Banking Committee on Tuesday released the entire text of the CLARITY Act. In the draft, Thorn noted that the addition of the “Build Now Act” could help garner more bipartisan political support before this weeks markup.　　Thorn outlined each of these changes in a series of posts on X. He mentioned notable updates to a variety of sections of the proposed plan. These include new powers for the SEC, definition of DeFi, provisions on insider trading, and the bankruptcy regulations for crypto companies.　　In addition, he noted that the CLARITY Act has specifically added Section 904, the ‘Build Now Act.’ “This is a bill that was co-sponsored by sens Kennedy and Warren and already passed the senate as part of the ROAD housing bill in march,” Thorn wrote.　　He believes that the addition of the Build Now Act within the CLARITY Act provides another pathway for it to become law. Moreover, Thorn said the strategy could help build momentum for

05-13Industry

LAB faces pump-and-dump fears amid 100 mln token distribution

Tech　　LAB faces ‘pump-and-dump’ fears amid 100 mln token distribution　　Crypto scams appear to peak in 2026, with some packaged as legit tokens. A couple of them have been flagged by on-chain investigator ZachXBT, and LAB seems to be one of them.　　Most of these tokens operate on BNB Smart Chain.　　LAB distribution is on!　　As per the latest news from Lookonchain, the developer team distributed about 100 million LAB, worth $480.33 million, across 10 wallets from Bitget. This amount represented more than 32% of the tokens circulating supply.　　The Bitget wallet still holds another 159 million LAB tokens, which the team will likely distribute too. This distribution tactic resembled that of RaveDAO [RAVE], where the memecoin surged just before the distribution, similar to LAB.　　Source: Lookonchain　　While these massive CEX outflows signal accumulation in a normal market scenario, for LAB they raise suspicion. The teams wallets control around 98% of the circulating supply, while the more than 19K holders of the token hold only 2%.　　ZachXBT accuses Bitget of letting scams run behind the scenes　　Addressing this concern, ZachXBT accused Bitget of allowing scams to run on their trading platform. The on-chain investigator cited that Chinese CEXs had gone unchallenged for years as long as they profited.　　In a reply

05-13Industry

Binance CME Exits as Budgets Shrink

She was managing big-name celebrity and sports partnerships. Conlan has secured much-talked-about deals with football star Cristiano Ronaldo, the Alpine Formula One team, musician The Weeknd, and social media influencer Khaby Lame.　　She was responsible for expanding partnerships with key opinion leaders to attract new users to the Web3 space.　　On top of that, Conlan was spearheading several educational initiatives for individuals with insufficient crypto knowledge.　　She even launched a fragrance introduced by the exchange in March 2024 to celebrate International Womens Day.　　The reason behind the exit　　A Binance spokesperson has clarified that Conlan is calling it quits to “focus on personal priorities.” However, her exit is likely linked to the broader industry rethinking costly advertising strategies.　　Major crypto exchanges recently reduced their high-cost marketing spending, and many firms are scaling back expensive sponsorships. This has pushed several marketing leaders out of the industry.　　For example, Crypto.com CMO Steven Kalifowitz left the company just last week.　　Similarly, Bybits CEO Ben Zhou recently announced that the exchange will not renew its Formula One sponsorship.

05-13Industry

SKYAI leads top-100 gains at 44% while ONDO slides 10% on the same day

SKYAI jumps 44% to top the days top‑100 gainers as ONDO sinks 10%, highlighting a rotation from RWA and yield infra into AI‑adjacent tokens riding the agentic AI narrative.SKYAI is the top performer among the top 100 cryptocurrencies by market cap on Tuesday, surging 44.45% to $0.5792, while BUILDon and Humanity posted double-digit gains of 15.32% and 13.06% respectively.Ondo Finance‘s ONDO token is the day’s biggest loser in the same cohort, dropping 10.28% to $0.3908, with Aerodrome Finance close behind at minus 10.16%, as RWA and DeFi infrastructure tokens give back recent gains.The divergence between AI-adjacent tokens like SKYAI and RWA platforms like ONDO captures a broader rotation dynamic playing out across the mid-cap crypto market on May 12.　　According to CoinMarketCap data, SKYAI is Tuesdays standout performer among the top 100 cryptocurrencies by market capitalization, jumping 44.45% to a current price of $0.5792 as AI-themed tokens continue to attract disproportionate speculative interest in a market where the agentic AI narrative is building momentum. BUILDon followed with a 15.32% gain to $0.6454, and Humanity added 13.06% to reach $0.2646, rounding out a top three that is heavily skewed toward newer, narrative-driven tokens rather than established large-caps.　　SKYAIs 44% surge leads an AI-driven

05-13Industry

US Banks Prepare for Tokenization Tipping Point, Moody’s Ratings Finds – Bitcoin News

Currently, activity is concentrated in stablecoins, tokenized deposits, and money market funds (MMFs). Most of this volume stems from cryptocurrency trading and specific institutional use cases. Moodys notes that retail and corporate demand for blockchain-based payments remains low.　　Many companies continue to rely on traditional methods like paper checks, viewing payment technology upgrades as a secondary priority compared to artificial intelligence (AI). Market participants believe payments alone will not drive mass adoption. Instead, the real value is expected to emerge when tokenized versions of mainstream financial assets or agentic commerce take off.　　These use cases require onchain settlement to enable instant, programmable transactions. In this environment, U.S. banks generally view tokenized deposits as a natural evolution of the existing deposit model.　　The report notes that “conversations with major U.S. banks and financial market intermediaries, and a review of public disclosures, reveal a forming consensus that there will be a ‘slow, then fast’ transition to a more digitalized financial system.” By contrast, many banks view privately issued stablecoins warily. They see them as a potential threat from non-banks or tech firms that could bypass traditional regulated frameworks and funding structures.　　The transition to a fully digital, 24/7 financial market is expected to run on a

05-13Industry

First Hyperliquid ETF Launch: Day One Volume Hits $1.8M–Key Details

This decrease coincides with a period of market uncertainty brought on by Bitcoin‘s recent retrace after failing to breach $83,000 during last week’s surge. If the $80,000 support breaks, some analysts believe this might lead to a new correction.　　If sentiment worsens again, it could potentially weigh on demand for 21Shares Hyperliquid ETF offering as well—particularly if inflows soften after the initial launch period.　　Bitwise And Grayscale Update HYPE ETF Filings　　Looking beyond 21shares Hyperliquid ETF launch, attention is now turning to other issuers. The market is watching Bitwise and Grayscale, both of which have updated their spot HYPE ETF filings, strengthening the sense that additional products could follow soon.　　The expectation is that these Hyperliquid ETF efforts by the two asset managers may benefit from the current regulatory environment in the country, with a now pro-crypto Securities and Exchange Commission led by Paul Atkins.

05-13Industry

Denis Beau warns dollar stablecoins threaten Europe

Denis Beau urged immediate private-sector mobilisation to build euro stablecoins, breaking publicly with ECB president Christine Lagardes slower approach.Banque de France deputy governor Denis Beau called for all relevant European players, public and private, to mobilise now to develop euro-based tokenised money.Beaus position conflicts with ECB president Christine Lagarde, who favours a central bank digital euro targeted for launch around 2029.Dollar-pegged stablecoins account for 98% of the total stablecoin market, raising fears of digital dollarisation across European payment infrastructure.　　Denis Beau, deputy governor of the Banque de France, called on May 12 for a “mobilization of all relevant European players, public and private,” to develop euro-based tokenised money to counter the dominance of dollar-pegged stablecoins. His position puts him at odds with ECB president Christine Lagarde, who favours waiting for a state-issued digital euro scheduled for around 2029.　　“To ensure a sound development of tokenised finance in Europe, its payment and settlement asset pillar should be in euro,” Beau told analysts this week. Dollar-pegged tokens from Tether and Circle currently account for 98% of the total stablecoin market, a concentration Beau described as a direct threat to European monetary sovereignty.　　What Beau is asking for and why it differs from Lagarde　　While Lagarde has

05-13Industry

Pound Sterling fell after hot US CPI

In the fifteen-minute chart, GBP/USD trades at 1.3540, maintaining a bearish intraday tone after staying below the days open at 1.3608, which now acts as overhead resistance. The Stochastic RSI hovers deep in overbought territory near 92, suggesting that the latest bounce is losing quality and that upside attempts could struggle while the pair remains capped beneath the opening print.　　On the topside, initial resistance is located at the day open around 1.3608, and a sustained break above this level would be needed to ease the current downside bias and allow for a more meaningful recovery. With no clear nearby support levels from moving averages or other structures in this dataset, traders may look to intraday price swings and prior session lows to gauge potential demand zones if selling pressure resumes from current levels.　　In the daily chart, GBP/USD trades at 1.3540, holding a modest bullish near-term bias as it extends above both the 50-day and 200-day exponential moving averages (EMAs) at 1.3482 and 1.3380 respectively. The recovery is underpinned by this reclaimed moving-average structure, while the Stochastic RSI easing back toward the midline around 50 suggests that immediate upside momentum is consolidating rather than accelerating.　　On the topside, the first technical reference

05-13Industry

ADA Price Prediction: $0.32 Target Within 30 Days as Whale Positioning Signals Breakout

Cardano sits in a technical squeeze at $0.28, trading dangerously close to its upper Bollinger Band with momentum thats neither convincingly bullish nor bearish. The MACD histogram at flat zero tells the story of a market in limbo, while the -0.65% daily drop masks underlying accumulation patterns that major altcoins are experiencing.　　Whats driving this tension？ ADA trades 20% below its 200-day moving average of $0.35, creating a massive technical gap that either needs to be filled or will serve as a ceiling for any rally attempt. The current positioning represents a critical inflection point where Blockchain.news has observed similar setups historically resolve with significant directional moves.　　Indicator Alignment　　The technicals present mixed signals, but the smart money speaks clearly. With RSI at 62.62, were in that neutral zone where breakouts happen without warning. The real story lies in the Bollinger Band positioning at 0.86 – this crypto is practically kissing the upper band, which typically signals either an imminent rejection or the start of a band-walking rally.　　ADA has cleared every short-term moving average while remaining well below the critical 200-day at $0.35. This creates a setup where any catalyst could trigger moves in either direction. The MACD signal line convergence at 0.0070

05-13Industry

Major U.S. Labor Unions Urge Senators to Oppose the Crypto Bill

Crypto　　Major U.S. Labor Unions Urge Senators to Oppose the Crypto BillLabor unions have urged senators to oppose the rules-of-the-road crypto bill ahead of Thursdays vote. The unions say the legislation lacks safeguards and endangers worker pensions through added volatility.This adds another hurdle to passing the crypto market structure bill and may signal continued scrutiny. 　　Major U.S. labor unions, including the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), Service Employees International Union (SEIU), and others, are urging senators to oppose the Digital Asset Market Clarity Act (CLARITY Act) ahead of Thursdays critical Senate Banking Committee vote.　　Labor Unions Urge Senate to Block Crypto Bill　　According to sources, five major U.S. labor unions, including the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), Service Employees International Union (SEIU), American Federation of Teachers (AFT), National Education Association (NEA), and American Federation of State, County and Municipal Employees (AFSCME), have sent letters to senators urging them to oppose a rules-of-the-road crypto bill scheduled for a markup vote in the Senate Banking Committee on Thursday, May 14.　　Why the Crypto Bill Faces Labor Unions Opposition　　Notably, the labor unions are opposing the CLARITY Act because they view cryptocurrency as a direct competitor for the

05-13Industry

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