Crypto Industry News & Market Trends

BlackRock To Launch Tokenized Money-Market Funds on Ethereum For Stablecoin Holders

BlackRock, the worlds largest asset manager, has filed with the U.S. Securities and Exchange Commission (SEC) to launch two tokenized money-market funds. The firm aims to use these funds to target investors who hold their cash in stablecoins, with the GENIUS Act providing more legitimacy to these stablecoins.　　BlackRock To Launch Two Tokenized Money-Market Funds　　According to a Bloomberg report, the worlds largest asset manager has filed with the SEC to launch two money-market funds for stablecoin holders. The firm plans to launch tokenized shares of its BlackRock Select Treasury-Based Liquidity Fund (BSTBL), which is worth around $6.1 billion.　　This fund notably invests in cash, U.S. Treasury bills, notes, and other securities with maturity dates of 93 days or less. The asset manager will launch tokenized shares for BSTBL on the top layer-1 network, Ethereum, which will function similarly to traditional shares.　　Meanwhile, the second tokenized fund will be the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), which the asset manager plans to launch, targeting investors who hold their cash in stablecoins and prefer self-custody to using brokerages. This fund will launch on multiple networks, according to the SEC filing.　　This move comes as the tokenization trend picks pace, with Wall Street giants moving their

05-10Ethereum

ETH Price Prediction: $2,400 Target Within 72 Hours Despite Weakening Momentum

The Immediate Setup　　Ethereum‘s price action at $2,315 tells a story of indecision masquerading as stability. The token managed a meager 1.89% daily gain, but momentum indicators are screaming caution. With RSI parked at 52.37 in dead neutral territory and MACD histogram sitting at absolute zero, buyers have clearly lost their conviction. The market is coiling for a directional break, and current positioning suggests it won’t be pretty for the bulls.　　Trading within a tight $58 daily range between $2,267 and $2,325, Ethereum is exhibiting the classic signs of a market running out of steam. Volume at $912 million on Binance shows decent institutional interest, but the lack of follow-through buying after yesterdays modest pump reveals underlying weakness that Blockchain.news traders should watch carefully.　　Hourly candlesticks (about 96 bars), same endpoint as our cryptocurrency price pages. Numbers below refresh from 1-minute klines.　　Full ETH price, calculator & analysis　　Key Levels Exposed　　The technical landscape paints a clear picture of where this battle will be fought. Immediate resistance at $2,338 aligns dangerously close to the 7-day SMA at $2,327, creating a double barrier that could cap any relief rally attempts. Above that, the $2,360 strong resistance level represents the make-or-break zone for bulls.　　Support structure tells an even

05-10Ethereum

BlackRock files for two new tokenized funds with the U.S. SEC on Ethereum

BlackRock on Friday filed two applications with the U.S. SEC aimed at expanding its footprint in tokenized finance, marking the firms biggest push into blockchain-based investment products since the launch of its BUIDL fund in 2024.　　One of the filings outlines plans for the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, a fund designed to hold cash, short-term U.S. Treasury securities, and overnight repurchase agreements backed by Treasuries.　　The fund would issue what BlackRock describes as “OnChain Shares” through a framework linked to multiple public blockchains. Records of Ownership for the shares would be maintained by Securitize Transfer Agent LLC, which would serve as the official transfer agent for the product.　　The filing did not name which blockchains the fund will support at launch. Entry requires a $3 million minimum investment, restricting access to institutional buyers.　　The second filing focuses on the BlackRock Select Treasury Based Liquidity Fund (BSTBL), a traditional money-market vehicle managing close to $7 billion. BNY Mellon Investment Servicing is expected to maintain shareholder records on Ethereum using the ERC-20 token standard.　　Blockchain transactions alongside off-chain identity verification would act as the fund‘s official shareholder registry. This initiative would place one of BlackRock’s largest cash-management products directly on a public blockchain for the

05-10Ethereum

Bank of Englands Bailey warns US stablecoins could destabilize the UK in a crisis

Andrew Bailey, the governor of the Bank of England, is sounding the alarm about a scenario that should make any financial regulator lose sleep: a crisis-driven stampede of US stablecoin capital pouring into the UK with no clear redemption backstop.　　Bailey, who also chairs the Financial Stability Board, warned that US-issued stablecoins with inadequate redemption mechanisms could flood into jurisdictions like the UK during periods of financial stress. The concern isn‘t theoretical. It’s the kind of cross-border contagion risk that central bankers spend their careers trying to prevent.　　The redemption problem　　Bailey‘s specific worry is about what happens when global markets hit turbulence. Investors holding US stablecoins with weak redemption guarantees might rush to convert those holdings into assets denominated in other currencies, or park them in jurisdictions they perceive as safer. The UK, as one of the world’s largest financial centers, sits squarely in the path of those potential capital flows.　　The risk isn‘t just about the stablecoins themselves. It’s about the knock-on effects. Sudden, large capital flows can distort exchange rates, strain liquidity in domestic markets, and create volatility.　　The UKs own stablecoin playbook　　Bailey isnt just pointing fingers across the Atlantic, though. The Bank of England is actively building a comprehensive regulatory framework

05-10Industry

xAI leases Colossus 1 supercomputer to Anthropic for $5B ahead of planned IPO

Elon Musks xAI, recently rebranded as SpaceXAI, is leasing its Colossus 1 AI supercomputer to Anthropic in a deal projected to generate $5 to $6 billion in annual revenue. The arrangement, announced on May 6, 2026, hands a direct competitor access to more than 220,000 NVIDIA GPUs while xAI shifts its own workloads to the newer Colossus 2 cluster.　　The lease comes at a strategically convenient moment. xAI is reportedly positioning for an IPO that analysts estimate could value the company at $75 billion or more. Turning idle silicon into a multi-billion-dollar revenue stream right before going public is, to put it mildly, not an accident.　　What Colossus 1 actually is, and why Anthropic wants it　　Colossus 1 was xAIs flagship supercomputer, built at a pace that raised eyebrows across the industry. The initial build was completed in just 122 days back in 2024. The cluster packs more than 220,000 NVIDIA GPUs, including H100, H200, and GB200 models. The lease provides Anthropic with 300 megawatts of compute capacity, which the company plans to use for training and running its Claude family of models.　　For Anthropic, this is about raw compute access in a market where GPUs remain scarce relative to demand. The company, backed

05-10Industry

Marco Rubio and Steve Witkoff meet Qatari PM in Miami as Middle East diplomacy intensifies

Secretary of State Marco Rubio and US Special Envoy Steve Witkoff sat down with Qatari Prime Minister Mohammed bin Abdul Rahman al-Thani in Miami this week, in what amounts to the highest-level gathering of mediators since the Gaza ceasefire began in October.　　The meeting also included Turkish Foreign Minister Hakan Fidan and Egyptian Foreign Minister Badr Abdelatty.　　What the meeting was actually about　　The focus of the talks centered on phase two implementation of the Gaza ceasefire deal. The Miami meeting was scheduled ahead of forthcoming talks between Israeli Prime Minister Benjamin Netanyahu and former President Donald Trump.　　Witkoff, Trump‘s special envoy, has been the administration’s point person on these discussions. His presence alongside Rubio, the nations top diplomat, elevates the stakes considerably.　　Ceasefire delays and growing frustration　　The ceasefire that took effect in October has been plagued by implementation problems. Both Israel and Hamas have been accused of dragging their feet on the terms they agreed to. Mediators from all three countries have expressed concerns about the pace of progress.　　If Qatar, Egypt, and Turkey are sending different signals about what phase two should look like, that gives both Israel and Hamas room to play the mediators against each other. A coordinated front closes that gap.　　Disclosure:

05-10Industry

SpaceX Rebrands xAI to SpaceXAI for Orbital Computing Amid $1.75T IPO

Elon Musks artificial intelligence company xAI is being folded into SpaceX under a new brand, SpaceXAI, as the aerospace company expands its ambitions in artificial intelligence, satellite-based data centres and orbital computing infrastructure.　　SpaceX has filed trademark applications for the wordmark “SpaceXAI,” according to reports citing filings with the United States Patent and Trademark Office. The filings describe services tied to satellite-based data centers, orbital computing, cloud computing, artificial intelligence software, model training, inference and AI workload management through satellite constellations and space-based platforms.　　Source:　　Musk said xAI would be dissolved as a separate company and that AI products would operate under SpaceXAI. He also said the new AI unit would have its own logo. The rebrand follows SpaceXs earlier acquisition of xAI and comes as the company prepares for a reported public listing that analysts have valued as high as $1.75 trillion.　　The move also follows SpaceX‘s major compute agreement with Anthropic, the developer of Claude. Under that deal, Anthropic will use capacity from SpaceX’s Colossus 1 supercomputer in Memphis, Tennessee, giving the AI company access to more than 300 megawatts of compute power.　　SpaceXAI Trademark Points to Orbital Data Centers　　The SpaceXAI trademark describe a broad AI and computing business that extends beyond software

05-10Industry

xAI leases Colossus 1 supercomputer to Anthropic for $5B annually ahead of planned IPO

SpaceXAI, the merged entity born from Elon Musks xAI and SpaceX, is leasing its Colossus 1 supercomputer cluster to rival AI company Anthropic for roughly $5 billion per year. The four-year deal, announced on May 6, hands Anthropic access to more than 220,000 Nvidia GPUs and 300 megawatts of power, giving it one of the largest compute footprints in the industry almost overnight.　　The timing is not subtle. xAI is preparing for an IPO slated for June 2026, with a target valuation of $1.75 trillion. Leasing out a massive but underused asset to a deep-pocketed competitor is one way to make the revenue line look significantly healthier before going public.　　Why lease your supercomputer to a competitor　　Colossus 1 was reportedly running at just 11% utilization. Industry benchmarks for GPU cluster utilization sit in the 35% to 45% range, meaning xAIs flagship supercomputer was operating at roughly a quarter of what would be considered normal.　　The lease is expected to generate between $5 billion and $6 billion annually for xAI. That cash flow directly offsets what have been reported as significant financial losses for the company.　　Anthropic, the company behind the Claude family of AI models, gets a massive compute injection without having to build

05-10Industry

Strait of Hormuz remains blocked amid US-Iran naval skirmishes

## Market Snapshot Strait of Hormuz traffic by May 15 is priced at 1.8% YES, down from 4% 24 hours ago. Market odds for Trumps Hormuz blockade announcement by May 31 are at 40.5% YES, a slight decrease from 42% yesterday. The probability of 20 ships transiting the Strait by May 31 is 65.5% YES, down from 69% in the last day.　　## Key Takeaways – Pricing suggests traffic through the Strait of Hormuz is unlikely to normalize by mid-May, consistent with continued naval blockades. – Market activity indicates a lower likelihood of Trump announcing the lifting of the Hormuz blockade by the end of May. – The chances of 20 or more ships transiting the Strait by the end of May have decreased, reflecting ongoing disruptions.　　## Article Body The blockage of the Strait of Hormuz persists following recent skirmishes between U.S. and Iranian naval forces, according to a report by the New York Times. The strategic waterway has been a flashpoint in the ongoing conflict, with the U.S. enforcing a blockade under Project Freedom and Iran deploying unmanned vessels and drones to disrupt shipping. Recent engagements have included the U.S. Navys interception of Iranian boats, indicating sustained tensions. This situation

05-10Industry

ALGO Price Prediction: $0.21 December Target Faces Critical $0.14 Resistance Test

The Immediate Setup　　Algorand sits at a crucial inflection point, trading at $0.13 with technical indicators painting a picture of momentum under pressure. The RSI reading of 67.87 hovers dangerously close to overbought territory while the MACD histogram flatlines at zero, revealing that bullish momentum has stalled precisely when bulls need it most. Price action shows ALGO pressed against the upper Bollinger Band at 97% position, a setup that historically produces either explosive breakouts or sharp reversals.　　The narrow 24-hour trading range between $0.13-$0.14 exposes the real battle – bulls are struggling to pierce that $0.14 ceiling despite posting a modest 2.59% daily gain. This resistance level has become the line in the sand that will determine whether Blockchain.news analysts bullish projections can materialize or if bears will regain control.　　Technical Battleground　　The chart reveals a compressed battleground where $0.14 stands as the fortress wall separating bulls from higher territory. Below current price, every major moving average from the 7-day SMA at $0.12 to the 200-day SMA at the same level has clustered together, creating either a robust support foundation or a dangerous zone where breakdown could accelerate rapidly.　　Bollinger Bands frame the action between $0.10 on the lower end and $0.13 on the upper

05-10Industry

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