Crypto Industry News & Market Trends

Manhattan luxury real estate sales risedespite pied-à-terre tax

Mamdanis press spokesman said the mayor “wants all New Yorkers to succeed” but that “the tax system is fundamentally broken. It rewards extreme wealth while working people are pushed to the brink.”　　The tax also faces big questions about implementation — and how to value New York properties.　　New York‘s antiquated assessment system values properties far below their market value and leaves a small number of apartments valued at $5 million or more. Griffin’s $238 million apartment is assessed by the city at $6.99 million and valued at only $15.5 million, CNBC previously reported.　　Hochul announced last week that she and the legislature had reached an agreement on the broad outlines of a state budget, which includes the pied-à-terre tax. She has not announced any details on the proposal, including the rates, timing and valuation system.　　Get Inside Wealth directly to your inbox　　Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

05-12Industry

Crypto.com Receives UAE Central Bank SVF License

Crypto　　Crypto.com Receives UAE Central Bank SVF LicenseCrypto.com is the first VASP to receive a UAE Central Bank Stored Value Facilities (SVF) license.UAE residents can now pay government fees using crypto via the Crypto.com platform.Crypto is auto converted to UAE dirhams before settlement, not paid directly.　　The Central Bank of the UAE has granted a Stored Value Facilities (SVF) license to Foris DAX Middle East FZE, the UAE entity of crypto exchange Crypto.com, making it the first Virtual Asset Service Provider in the country to receive the designation.　　The license allows UAE residents to pay government fees using digital assets through Crypto.coms platform, activating a previously announced partnership with the Dubai Department of Finance.　　Crypto.com separately holds a VARA license from Dubais virtual asset regulator, giving it dual regulatory standing that no other crypto firm in the UAE currently holds.　　How the Payments Actually Work　　Residents do not pay government fees directly in cryptocurrency. Digital assets are automatically converted into UAE dirhams before settlement. All transactions are completed in dirhams or Central Bank-approved dirham-backed stablecoins exclusively within the SVF framework.　　Because Crypto.com is currently the only VASP in the UAE holding an SVF license, any resident seeking to use virtual asset payment services under this framework must

05-12Industry

U.S. SEC Delays Prediction Market ETF Launches Again Amid Extended Review

Tech　　U.S. SEC Delays Prediction Market ETF Launches Again Amid Extended Review　　The U.S. Securities and Exchange Commission (SEC) has again delayed the launch of the prediction market ETFs, seeking more time to review the filings. Bloomberg analyst Eric Balchunas explained why the SEC was taking additional time to review these filings and described the introduction of these funds as “groundbreaking.”　　SEC Delays Prediction Market ETFs For More Time To Review Filings　　In an X post, Balchunas noted that the SEC had again delayed the prediction market ETFs, with these funds no longer set to launch today as planned. He explained that the SEC wants more time to review the filings and that the delay doesnt appear to be “lethal” but simply them double-checking the disclosures.　　The Bloomberg analyst added that these funds are “groundbreaking” and that their launch will set a precedent, which explains why the SEC wants a little more time to review them. These ETFs seek to tap into the fast-growing prediction markets industry and will notably be the first of their kind.　　As CoinGape reported, the SEC delayed the launch of these funds last week, urging issuers to share more details about how they will operate. Asset managers Roundhill Investments, Bitwise, and

05-12Industry

Ripple Spikes +2%, Outperforming BTC and ETH in Breakout Move

Bitcoin Ethereum　　Ripple Spikes +2%, Outperforming BTC and ETH in Breakout Move　　XRP Ripple has cleared a resistance ceiling that had turned back multiple rally attempts since April, surging 2.5% to trade around $1.45 while Bitcoin and Ethereum posted comparatively muted gains. The move came fast, and the volume behind it raised eyebrows. Whether the breakout holds or fades into another false start depends on one level that traders are watching closely right now.　　The token climbed from $1.4176 to a session high of $1.5073 before profit-taking trimmed the advance, leaving XRP holding near the $1.45 area that previously acted as a ceiling. Critically, the breakout acceleration yesterday arrived with volume surging above $169M, a reading consistent with institutional-scale positioning rather than retail momentum chasing.　　XRP had spent days compressing inside a tightening range, with analysts flagging bull flag and triangle formations building just beneath that resistance. The setup was textbook. The execution was sharp.　　Broader conditions amplified the move. Thin liquidity across major exchanges had been flagged ahead of the session, meaning any confirmed break could produce exaggerated prints in either direction. XRP traded within a 6.5% intraday range, wide by recent standards, underscoring how quickly sentiment shifted once sellers were cleared out.　　(SOURCE: TradingView)　　Can

05-12Industry

3 Cryptos to Buy Under $500 With Breakout Potential, and Why Little Pepe ($LILPEPE) Is Leading Small Wallet Picks

Finance　　3 Cryptos to Buy Under $500 With Breakout Potential, and Why Little Pepe ($LILPEPE) Is Leading Small Wallet Picks　　If the investor has less than $500 in their wallet, then the main priority will shift from stability to maximized profit. Although large-cap cryptos offer safety to the portfolio, they tend to produce lower percentage yields. Mid-cap and early cryptos, on the other hand, have greater potential to break out in the case of market cycles being favorable. Many small wallets have used this approach and started investing in a blend of well-established and up-and-coming tokens.　　Solana ($SOL):　　Solana is still quite popular because of its ability to conduct transactions quickly and for affordable prices on this blockchain. SOL is currently trading at $85.10 with a market cap of $49.04 billion as of today. The growing ecosystem and high developer activity make Solana one of those mid-cap cryptos with potential to break out. Smaller budgets can enjoy the advantages of an emerging blockchain, which has proved itself profitable in the case of bull runs.　　Chainlink ($LINK):　　With an increasing need for Chainlink, there is now an increasing reliance on the data feeds within decentralized applications. LINK is currently at $9.63 with a market cap of $7

05-12Industry

Solana Price Prediction: Bulls Defend Structure Ahead of $97 Breakout Test

Tech　　Solana Price Prediction: Bulls Defend Structure Ahead of $97 Breakout TestSolana bulls defend breakout structure as momentum targets the $100 barrier zoneOpen interest cooldown signals cautious trader positioning after SOL market surgeSpot outflows weaken significantly as investors await stronger confirmation signals　　Solana continued attracting bullish momentum this week as traders pushed the asset toward a major resistance cluster near $97. The recent breakout on the four-hour chart followed several sessions of steady accumulation above key support zones.　　Buyers maintained control throughout the rally, while market structure shifted firmly in favor of continuation. However, the rapid price expansion now raises the possibility of increased volatility as traders approach psychologically important levels near $100.　　Solana Momentum Strengthens Above Key Averages　　SOL traded comfortably above all major exponential moving averages during the latest rally phase. The 20-period EMA near $93.30 now acts as the first dynamic support area. Additionally, the 50-period EMA around $90.34 continues supporting the broader uptrend structure.　　The recent breakout developed after Solana spent considerable time consolidating between $82 and $88. Buyers consistently defended higher lows during that range. Consequently, bullish momentum gradually accelerated before triggering a strong upward expansion toward the $95 region.　　Trend indicators also reinforced the bullish outlook. The Directional Movement Index showed

05-12Industry

Stablecoins as a $9T ‘economic OS’ in a16z’s Arc bet

a16zs Arc thesis recasts stablecoins as a $9T “economic OS” for global finance, powering accounts, payments, FX and credit instead of just serving as crypto payment rails.Andreessen Horowitz has laid out its investment thesis for Arc, arguing that stablecoins are evolving from simple payment rails into an on-chain “economic operating system” for global finance.The firm cites adjusted stablecoin transaction volume of around $9 trillion over the past year and a total USD stablecoin supply above $270 billion, framing the sector as systemic infrastructure rather than a niche crypto product.a16z positions Arc as a platform layer in this stack, abstracting stablecoins into programmable accounts, payments, FX and credit that can be embedded into applications worldwide.　　Andreessen Horowitzs crypto arm has published a new thesis on its investment in Arc, arguing that stablecoins are “no longer just a payment rail” but “the foundation of a new economic operating system for global finance.” In its essay, titled “The new stack for global finance: Stablecoins edition,” the firm describes stablecoins as the base layer of a modular stack where wallets, orchestration services and credit networks all plug into programmable dollars that move on public blockchains.　　a16z says stablecoins now rival legacy payment rails　　The data point a16z

05-12Industry

Scaramucci Warns of CLARITY Act Delay Amid Banking Pushback

Tech　　Scaramucci Warns of CLARITY Act Delay Amid Banking Pushback　　Anthony Scaramucci, founder of SkyBridge Capital, warned at the Solana Policy Summit that the Digital Asset Market Clarity Act (CLARITY Act) may not pass the Senate for another two to three years due to banking lobby resistance and political gridlock.　　This highlights the significant institutional opposition to crypto legislation in the Senate, where banking interests are powerful. While the CLARITY Act seemed on track for enactment after passing the House in late 2025, Scaramuccis assessment suggests a much more uncertain future.　　He may be making this prediction to adjust expectations within the institutional investor community, which has been anticipating regulatory clarity as a near-term catalyst, aligning with SkyBridge Capitals interests as a long-term holder of digital assets.　　Scaramuccis warning comes as the broader crypto market suffered a slight pullback overnight, with BTC USD falling from $82,400 to its current level of $81,200.　　(SOURCE: TradingView)　　CLARITY Act Legislative Status: Senate Gridlock, Banking Objections, and the Filibuster Arithmetic　　The CLARITY Act passed the U.S. House of Representatives in July 2025 with a bipartisan 294–134 vote during “Crypto Week,” generating optimism for Senate approval.　　However, on January 14, 2026, support collapsed in the Senate Banking Committee after key industry groups withdrew their

05-12Industry

Ethereum, BMNR news: Bitmine buys 26K ether (ETH) after Tom Lee said to slow down accumulation

Bitmine Immersion Technologies (BMNR) has sharply slowed its ether (ETH) purchase pace as Chairman Tom Lee signaled, following months of aggressive buying that made it the worlds largest Ethereum treasury company.　　The firm bought 26,659 ether last week, worth about $63 million based on ether‘s current price. That’s roughly a quarter of the average weekly haul it purchased over the past weeks.　　The purchase lifted Bitmine‘s holdings to over 5.2 million ETH, or around 4.31% of ether’s circulating supply, according to a Monday company update.　　The update follows comments Lee made last week at Consensus 2026 in Miami, where he said BitMine may begin moderating its buying pace after one of the fastest accumulation runs in the crypto market.　　The slowdown follows comments Tom Lee made last week at Consensus 2026 in Miami, where he said Bitmine was considering easing purchases as it approached its long-term goal of acquiring 5% of Ethereums supply.　　“We have decided to slow down our pace of weekly accumulation from over 100,000 [ETH] per week,” Lee said in Mondays statement. “Our previous pace of buys would have us reach 5% by mid-July.”　　Bitmine remains one of the few major digital asset treasury firms still consistently buying crypto during the recent market

05-12Ethereum

Bitmine buys another $60m worth of Ethereum, brings total holdings to 5,206,790 ETH

Bitmine has bought Ethereum once again. This recent purchase, however, is different from previous purchases as the 26,659 ETH bought is a sharp pullback from the recent pace of at least 100,000 ETH tokens per week with the company getting closer to its goal of holding 5% of ETHs total circulating supply.　　Bitmine‘s total holdings now currently stand at 5,206,790 ETH, which is valued at approximately $12.3 billion at an average of $2,366 per token. That represents 4.31% of Ethereum’s circulating supply of 120.7 million tokens, according to the companys recent filing.　　Bitmine ever closer to 5% target　　Chairman Tom Lee has said the company is purposely easing its accumulation of Ethereum after months of aggressive buying that saw Bitmine acquire more than 1 million ETH this year.　　“We have decided to slow down our pace of weekly accumulation from over 100,000 per week,” Lee said in the company statement. “Our previous pace of buys would have us reach 5% by mid-July.”　　Lee had initially mentioned the possible shift last week at Consensus 2026 in Miami, where he told attendees the company was reconsidering the speed of its approach toward what it calls the “alchemy of 5%,” its target of owning 5% of all ETH

05-12Ethereum

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