Crypto Industry News & Market Trends

Bybit Georgia and City Mall Launch Cashback Campaign for Bybit Card Users

Bybit, the worlds second-largest cryptocurrency exchange by trading volume, has partnered with City Mall, one of the leading shopping malls in Georgia, to launch a new cashback campaign for Bybit Card users, offering shoppers up to 50% cashback on eligible purchases made at City Mall locations on May 23 and 24.　　The campaign will be available exclusively at City Mall Saburtalo (Vazha-Pshavela Ave N70) and City Mall Gldani (I.Vekua N1) for in-store purchases paid with a Bybit Card, either physically or through Google Pay or Apple Pay. Online transactions are not eligible for the offer.　　No Minimum Deposit Required Before May 15　　To participate, users must activate their Bybit Card and register for the campaign between May 8 and May 15. Beginning May 16, participants will be required to complete a minimum deposit of $100 by May 20 to qualify for the cashback offer.　　The first 200 users who complete all campaign requirements will receive 50% cashback on qualifying purchases, with a maximum cashback amount of 500 GEL per user. All other eligible participants will receive 15% cashback, capped at 100 GEL per user.　　The initiative reflects the growing integration of digital payment technologies into everyday retail experiences in Georgia. Through the partnership, City Mall

05-11Industry

Shiba Inu Price Prediction: SHIB Volume Explodes 149% but Burn Rate Drops 62% in One Week

Tech　　Shiba Inu Price Prediction: SHIB Volume Explodes 149% but Burn Rate Drops 62% in One WeekSHIB derivatives volume jumped 149% to $248.64M with open interest up 10%, signaling fresh positioning at a key resistance levelWeekly burn rate crashed 62% from 11.5M tokens on May 1 to under 1M by May 8, gutting the supply-reduction case right at the breakout zonePrice is pressing the $0.0000660 resistance band with the Supertrend bullish at $0.0000587, but the 100 and 200 EMAs still sit overhead　　Shiba Inu trades at $0.00000653 on May 11, one candle away from a resistance zone it has failed to break three times this year, as derivatives volume explodes 149% and the weekly burn rate quietly collapses 62% in the same week.　　Shiba Inu Daily Chart: Resistance Test With EMAs Still Overhead　　The daily chart shows SHIB has recovered sharply from the February lows near $0.0000052, grinding higher inside an ascending channel since late March. The Supertrend indicator flipped bullish at $0.0000587 and has held below price through the entire recovery, a positive signal. Price is now pressing directly into the $0.0000660 to $0.0000668 resistance band, the same zone that rejected multiple breakout attempts earlier this year.　　The EMA picture is mixed. The 20

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OpenAI Faces Federal Lawsuit Over ChatGPTs Alleged Role in FSU Mass Shooting

In briefA federal lawsuit alleges that OpenAIs ChatGPT provided firearms guidance and tactical advice to the gunman in the April 2025 Florida State University mass shooting that killed multiple victims.The family claims ChatGPT failed to detect threat indicators despite extensive conversations about weapons, mass shootings, and attack planning methods.Floridas Attorney General has launched a criminal investigation into OpenAIs role in the incident.　　Vandana Joshi, whose husband was killed in the April 2025 Florida State University mass shooting, filed a federal lawsuit against OpenAI Sunday, alleging that ChatGPT enabled the attack by providing firearms guidance and tactical advice to the shooter.　　The lawsuit alleges Phoenix Ikner shared images of firearms with ChatGPT and received instructions on how to use them in the weeks before April 17, 2025. According to the filing, ChatGPT allegedly told Ikner that weekday lunchtimes between 11:30 a.m. and 1:30 p.m. were peak hours at the student union—and Ikner began his attack at 11:57 a.m.　　ChatGPT also allegedly claimed that a shooting was more likely to gain national attention “if children are involved,” adding that, “even 2-3 victims can draw more attention.” Per the complaint, Ikner also shared images of firearms he had acquired with ChatGPT, with the chatbot responding with

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Teradyne sees growth potential from AI networking and GPU expansion

Tech　　Teradyne sees growth potential from AI networking and GPU expansion　　Teradyne reported Q1 2026 revenue of $1.282 billion, an 87% increase year-over-year, driven almost entirely by the insatiable appetite for AI-related chip testing.　　Non-GAAP earnings per share came in at $2.56, and the companys free cash flow is projected to reach $950 million for the full year.　　The AI testing gold rush　　The automated test equipment market stood at $9 billion in 2025 and is forecasted to grow significantly from there, fueled by AI-driven demands for compute, networking, and memory chip testing.　　The company secured multiple production test orders for merchant GPUs during Q1 2026. Merchant GPUs, the kind sold on the open market rather than kept in-house by hyperscalers, represent a massive addressable market that Teradyne has been working to crack for years.　　Full-year outlook and what the numbers say　　Analysts are projecting Teradynes full-year 2026 revenue growth somewhere between 22% and 31%. EPS growth is expected to exceed 40%. The company itself has indicated that 55-60% of its 2026 revenue will land in the first half of the year.　　The $950 million free cash flow projection would represent roughly a doubling from prior levels. Teradyne operates in an oligopolistic market for high-end test equipment alongside Advantest

05-11Industry

Reliance Industries plans all-new share offering in Jio Platforms IPO worth up to $4.3 billion

Tech　　Reliance Industries plans all-new share offering in Jio Platforms IPO worth up to $4.3 billion　　Reliance Industries is structuring the upcoming Jio Platforms IPO as an all-new share offering, meaning the company will issue only fresh equity rather than selling down existing stakes.　　The offering could raise up to $4.3 billion and value Jio Platforms at roughly $112 billion, according to market forecasts.　　What Jio is actually building　　Jio Platforms isnt just a telecom play anymore. The subsidiary, which boasts over 500 million subscribers, has been quietly assembling a digital ecosystem that stretches well beyond mobile data plans.　　In October 2025, Jio partnered with Aptos, the Layer 1 blockchain, to deliver blockchain-based rewards to its massive user base.　　Then there‘s JioCoin. The reward-based token has been in testing on Polygon since March 2026, integrated directly into Jio’s browser. The concept is straightforward: users earn crypto-backed incentives for engaging with Jios digital services.　　Jios Q4 FY26 net profit came in at 7,935 crore rupees, underscoring that the business generating these Web3 ambitions is financially healthy.　　The India crypto puzzle　　Indias crypto framework remains restrictive, with heavy taxation on digital asset gains and periodic signals from regulators that range from cautious acceptance to outright hostility.　　What this means for investors　　The IPO is

05-11Industry

BNB price targets $785 following breakout above descending triangle resistance.

The pattern breakout projects a potential upside target near $785, derived from the height of the triangle added from the breakout point. That level also aligns closely with a previous resistance zone seen earlier this year.　　Momentum indicators continue supporting the bullish setup. The MACD has completed a bullish crossover while the histogram continues printing expanding green bars, suggesting strengthening upside momentum.　　At the same time, the Aroon Up indicator has surged above 90 while the Aroon Down line remains near lower levels, signaling strong bullish trend conditions and weakening selling pressure.　　If bulls maintain momentum above the breakout zone near $640, BNB could attempt a move toward the intermediate resistance around $740 before potentially targeting the projected $785 level.　　On the downside, failure to hold above the broken trendline could weaken the breakout structure and pull BNB back toward the $627 support region, where buyers recently stepped in aggressively.

05-11Industry

Cardano Price Prediction: ADA Breaks Out As Grayscale Lifts Exposure To 18.33%

Tech　　Cardano Price Prediction: ADA Breaks Out As Grayscale Lifts Exposure To 18.33%ADA derivatives volume surged 129.80% to $917.34M and open interest climbed 6.94% as price broke above a descending triangle held since FebruaryGrayscale raised ADAs weight to 18.33% in its smart contract fund on May 7, keeping it third behind Solana and EthereumRetail longs are piling in at a 2.37 ratio on Binance while shorts build positions above price ahead of Thursdays CLARITY Act vote　　Cardano trades at $0.2777 on May 11, fading after tagging $0.2829 intraday, one session after breaking a three-month descending triangle that had compressed price since February while Grayscale quietly raised its ADA allocation to 18.33%.　　ADA Daily Chart: Triangle Breakout Stalls at the 100 EMA　　From February through late April, ADA ground inside a descending triangle with lower highs pushing toward rising support near $0.24. The pattern broke upside in early May, with price clearing the structure and running to $0.2829 before fading. That high landed directly on the 100 EMA at $0.2844, which is now the level the market needs to clear.　　Below that, the 20 EMA at $0.2607 and 50 EMA at $0.2594 have both flipped to support for the first time since the downtrend started. The

05-11Industry

India Jewelry Stocks Lose 12% as Modi Targets $72 Billion Gold Import Bill

Tech　　India Jewelry Stocks Lose 12% as Modi Targets $72 Billion Gold Import Bill　　Indias jewelry stocks suffered a sharp single-day selloff on Monday. Major retailers shed up to 12% after Prime Minister Narendra Modi urged a one-year pause on gold buying.　　The Nifty Consumer Durables index closed 4% lower, and Titan was the single biggest drag on the Nifty 50.　　Inside the India Jewelry Stocks Selloff　　Senco Gold and Thangamayil Jewellery each fell about 9%. Kalyan Jewellers slipped 8%. Titan Company and Goldiam International dropped about 6%, while Sky Gold lost as much as 12% intraday.　　The selling started at the open and accelerated into the afternoon session.　　Indias Jewellery Stocks Down.　　“One statement by PM and all down,” equity researcher Dhawal Doshi highlighted.　　Investors priced in weaker volumes for the upcoming wedding season, which drives roughly half of Indias annual gold purchases.　　Lower retail footfalls would directly hit revenues across the gold retail segment. The move could compress same-store sales growth over the next two quarters.　　Why Modi Targeted Indias Gold Demand　　India is the worlds second-largest gold consumer behind China and a major import market for the metal.　　1) India is a net importer of Gold (2nd largest after China). We import gold to meet our domestic demand.　　2) When you

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Circle (CRCL) beats earnings estimates but misses on revenue amid $222 million Arc raise

Circle, issuer of the worlds second-largest stablecoin, USDC, posted estimate-beating first-quarter earnings as revenue rose 20% and it raised $222 million for its Arc blockchain network in a presale of the ARC token.　　Earnings per share (EPS) of 21 cents beat analyst estimates of 17 cents, while revenue rose 20% to a less-than-forecast $694 million. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) grew 24% from a year earlier to $151 million, the New York-based company reported.　　USDC onchain transaction volume jumped over 260% from the year-earlier quarter to $21.5 trillion, and USDC in circulation increased 28% to $77 billion.　　The ARC token presale values the project at $3 billion. The fundraising round included investment from a mix of Wall Street heavyweights and crypto-native firms, including BlackRock, Apollo Funds, a16z crypto, ARK Invest, CoinDesks parent company Bullish, Haun Ventures, Intercontinental Exchange and Standard Chartered Ventures.　　The fundraising marks Circles most ambitious expansion beyond USDC and payments infrastructure, pushing the stablecoin issuer deeper into the race to build blockchain infrastructure for institutional finance.　　Circle also published the Arc whitepaper on Monday, outlining ARC as a “native coordination asset” designed to support governance, validator security and network operations across the chain.　　Arc, which began testing in October,

05-11Industry

India Jewelry Stocks Lose 12% as Modi Targets $72 Billion Gold Import Bill

Tech　　India Jewelry Stocks Lose 12% as Modi Targets $72 Billion Gold Import Bill　　Indias jewelry stocks suffered a sharp single-day selloff on Monday. Major retailers shed up to 12% after Prime Minister Narendra Modi urged a one-year pause on gold buying.　　The Nifty Consumer Durables index closed 4% lower, and Titan was the single biggest drag on the Nifty 50.　　Inside the India Jewelry Stocks Selloff　　Senco Gold and Thangamayil Jewellery each fell about 9%. Kalyan Jewellers slipped 8%. Titan Company and Goldiam International dropped about 6%, while Sky Gold lost as much as 12% intraday.　　The selling started at the open and accelerated into the afternoon session.　　Indias Jewellery Stocks Down.　　“One statement by PM and all down,” equity researcher Dhawal Doshi highlighted.　　Investors priced in weaker volumes for the upcoming wedding season, which drives roughly half of Indias annual gold purchases.　　Lower retail footfalls would directly hit revenues across the gold retail segment. The move could compress same-store sales growth over the next two quarters.　　Why Modi Targeted Indias Gold Demand　　India is the worlds second-largest gold consumer behind China and a major import market for the metal.　　1) India is a net importer of Gold (2nd largest after China). We import gold to meet our domestic demand.　　2) When you

05-11Industry