Crypto Industry News & Market Trends

FanDuel CEO Amy Howe out after five years at the sportsbook

Bitcoin Ethereum News　　Amy Howe, CEO of FanDuel, participates in a discussion at the Semafor World Economy 2026 summit on April 14, 2026 in Washington, D.C.　　FanDuel CEO Amy Howe has been ousted from that post after five years at the company, people familiar with the matter told CNBC.　　Christian Genetski, FanDuel president, will step in to lead the company, according to the people, who asked not to be named in order to speak about internal matters.　　Howe, head of the nations leading sportsbook, has shepherded the sports betting company since 2021. She has overseen FanDuel during a time of dramatic expansion in sports gambling and other online gambling in multiple states.　　Shares of FanDuel parent company have been under pressure, however, down 57% over the last year as investors have sold off gaming stocks more broadly amid the sudden specter of competition from prediction markets and worries about consumer spending due to higher gas prices and inflation worries. Shares of are down roughly 33% over the same time period.　　In February, Flutter issued 2026 guidance that missed Wall Street expectations.　　Flutter CEO Peter Jackson told CNBC following the earnings report that he wants to invest $300 million in FanDuel Predicts, the companys in-house predictions platform, “and

05-07Industry

$1 Trillion Altcoin Breakout: What Big Money Move Into ZEC, XRP, and DOGE Really Means

By the middle of the first week of May, the TOTAL2 index by TradingView, meaning the capitalization of altcoins excluding Bitcoin, stabilized above the psychological $1 trillion mark, reaching $1.051 trillion.　　Against the backdrop of a broader risk-on environment and the de-escalation talks in Middle East, capital began distributing across the market in a more targeted way as XRP, Zcash (ZEC), and Dogecoin (DOGE) came into focus, being three coins each representing its own growth model: from scarcity-driven hype to institutional recognition.　　3 coins driving the crypto markets new risk-on phase　　Zcash (ZEC) became the leader of the week, posting gains of more than 70% and breaking above $585. Not only did Multicoin Capital, the fund known for buying Solana (SOL) at $0.04-$0.23 during 2018-2020, officially confirm the formation of a significant position in Zcash, but a fundamental supply shortage also affected the price as nearly 30% of the coins total supply is now held in shielded addresses, marking a historical high and limiting available exchange supply for ZEC.　　XRP Lines Up for $2 Target as Key Bollinger Bands Hurdle Cleared; Zcash (ZEC) to Grab 10% of Bitcoin Price, Predicts BitMEX Founder; Dogecoin (DOGE) Ends $0 ETF Streak Amid May 2026 Altseason – Morning

05-07Industry

From what to how: Robinhood and Bitstamp say banks are ready to build on-chain

Wall Streets long-awaited migration into crypto is no longer theoretical, according to executives from Ondo Finance, Robinhood-owned Bitstamp and Babylon Labs. However, institutional adoption remains slower and more fragmented than many in the industry once expected.　　The executives described a financial industry increasingly embracing blockchain rails, tokenized securities and crypto-native yield products on the “Is the Wall Street Herd STILL Coming？” panel at Consensus Miami 2026.　　“I think its very clear that Wall Street is coming to crypto,” said Ondo President Ian De Bode, pointing to recent partnerships with Broadridge and the Depository Trust & Clearing Corporation (DTCC) aimed at tokenizing securities and enabling blockchain-based shareholder voting.　　Robinhood‘s Nicola White said that the conversation with banks has shifted dramatically over the past two years. “We’re not having conversations anymore about what blockchain is,” she said. “Now its about, how do we help them build？”　　The panelists emphasized that crypto infrastructure already improves on traditional finance in terms of settlement speed and market accessibility. De Bode noted Ondos tokenized treasury products allow investors to mint and redeem positions over weekends while earning a daily yield, capabilities still largely unavailable in traditional money markets.　　“That in and of itself as a value prop is mind-blowing to many

05-07Industry

Bitcoin surges past $82K amid easing US-Iran tensions

Bitcoin Ethereum News　　## Market Snapshot　　Bitcoins market for being above $66,000 on May 6 shows a strong consensus, priced at 99.9% YES. Similarly, for May 7, it is priced at 100% YES. The SpaceX IPO market is unaffected by these developments.　　## Key Takeaways　　– The market suggests a consistent likelihood of Bitcoin staying above $66,000 due to decreasing geopolitical tensions. – Recent Bitcoin price movements are consistent with a safe haven asset response amid geopolitical uncertainties. – Current pricing indicates a view that de-escalation in the Middle East supports Bitcoins status as a risk-on asset.　　## Article Body　　The recent breach of Bitcoin beyond $82,000 comes amid geopolitical developments in the Middle East. Tensions between the US, Israel, and Iran have been easing, with Iran proposing a 14-point peace plan that the US has responded to positively. This de-escalation has led to a reduction in crude oil prices, which fell by approximately 5% to $107 per barrel. The reduction in geopolitical risk is seen as supportive of Bitcoins rise as investors view it as a “digital gold” safe haven. The movement towards $82,000 reflects a broader trend of risk-on sentiment, driven by reduced concerns over energy supply disruptions.　　## Market Interpretation　　Market pricing is supportive of

05-07Industry

Core Scientific (CORZ) Stock Surges on $421M Polaris Deal to Boost AI Infrastructure

Strategic Polaris Deal Bolsters Oklahoma Operations　　Core Scientific revealed its intention to purchase Polaris DS LLC in a transaction valued at $421 million, significantly expanding its Muskogee, Oklahoma footprint. This acquisition delivers 440 megawatts of power capacity under contract with Oklahoma Gas & Electric. The move is expected to accelerate the timeline for deploying advanced high-density computing infrastructure.　　The transaction requires regulatory clearance and satisfaction of customary closing requirements, with completion anticipated during Q3 2026. Polaris currently maintains an active 40-acre campus located adjacent to Core Scientifics current Muskogee operations. The property features established electric service contracts and substation facilities that enable additional expansion opportunities.　　According to Core Scientific, this strategic purchase directly supports the organizations objective of achieving approximately 1 gigawatt of leasable power infrastructure. The company has secured control of nearly 250 additional acres earmarked for future development initiatives. This comprehensive approach integrates targeted acquisitions, new construction projects, and flexible power delivery systems throughout its Oklahoma portfolio.　　Advanced Infrastructure Enables AI and Computing Services　　Core Scientific has strategically repositioned itself away from conventional Bitcoin mining operations toward artificial intelligence and high-performance computing services. As a result, the organization continues repurposing previous mining locations into enterprise-grade colocation facilities. The Muskogee expansion exemplifies this broader

05-07Industry

Arthur Hayes pegs Zcash target at 10% of Bitcoin price

BitMEX co-founder Arthur Hayes says his target for Zcash is 10% of Bitcoin‘s price, arguing ZEC’s latest rally is early innings despite mounting pressure on privacy coins.BitMEX co-founder Arthur Hayes said his upside target for Zcash (ZEC) is 10% of Bitcoins price.Hayes argued on X that ZECs current rally “still has a lot of room for growth.”The call comes as privacy coins remain under regulatory pressure but periodically see sharp speculative moves.　　BitMEX co-founder Arthur Hayes has set an aggressive upside target for privacy coin Zcash, telling followers on X that his “target price for ZEC is 10% of the BTC price.” In the same post, Hayes added that the current uptrend “still has a lot of room for growth,” signaling he believes the recent move in ZEC is just the early phase of a larger cycle.　　While Hayes did not publish a full valuation model alongside the remark, the 10% anchor implies a substantial potential upside relative to current market levels. If Bitcoin were trading at $90,000, for example, a 10% ZEC/BTC ratio would suggest a ZEC price near $9,000; at $70,000 BTC, it would point to about $7,000 per ZEC. For context, Zcashs all‑time high in late 2016 briefly spiked

05-07Industry

Tradeify Launches Grand Cup 2: Outlaws with a $1,000,000 Prize Pool and a $5,000 Bounty on Hand-Picked Pros

1,024 traders. Ten days of head-to-head elimination. Twenty-four invited Outlaws each carrying a $5,000 bounty. Sign-ups open today; the bracket runs May 17 through June 5.　　Tradeify today opened registration for The Grand Cup 2: Outlaws, a free-to-enter simulated trading tournament with a $1,000,000 prize pool. The format pairs an open five-day qualifier with a 1,024-trader single-elimination bracket and a $5,000 bounty on each of 24 invited “Outlaw” competitors. Registration is open now at tradeify.co/grandcup; the qualifier runs May 17-22, and the bracket runs May 26 through the championship on June 5.　　The Boca Raton-based prop firm has paid more than $200 million to funded traders since launching in 2024. Grand Cup 2 is the second running of the tournament, following the inaugural Grand Cup in 2025.　　How the format works　　Participation in the qualifier is free of charge. Entrants trade a $50,000 simulated account with a $2,500 drawdown over five trading days, capped at one mini contract or ten micro contracts. Rankings are based on ending account balance, and the top 1,000 traders advance into the bracket.　　In the head-to-head stage, qualifiers are paired against each other in single-day matchups on a fresh $50,000 simulated account with no drawdown rule. Whichever trader has the

05-07Industry

Claude Say Bitcoin Could Surge to $120K Under These Conditions

Bitcoin is on the move after recovering its bullish momentum amid catalytic support.Claude AI thinks de-escalating US-Iran tensions is a catalyst behind Bitcoins rebound.There are varying chances for the current Bitcoin rally to reach $90K, $100K, and $120K.　　Bitcoin has made an impressive return in the past few days, stabilizing above the $80,000 resistance, which has flipped into strong support. The cryptocurrency traded at $82,509, amid signals of further upsurge, according to data from TradingView.　　With the return of bullish momentum for BTC, we asked Claude AI to identify the catalyst behind the digital assets recent price surge and to predict the chances of Bitcoin rallying to $90,000, $100,000, and $120,000 in the current bull run, and got the following response:　　What is Behind Bitcoins Rally？　　To begin with, Claude identified multiple factors behind the latest Bitcoin rally, including the de-escalation of the US-Iran war, following US President Donald Trumps announcement that the US had responded to Irans 14-point peace proposal, and would start escorting commercial vessels through the Strait of Hormuz.　　Claude further noted that ETF inflows turning positive in late April have contributed to Bitcoins latest rally, alongside technical reclamation of key price levels, which boosted bullish sentiment among traders. Additionally, the Bitcoin

05-07Industry

JPMorgan, Ripple, Ondo Complete First Cross-Border Tokenized Treasury Settlement Using XRP Ledger

In a major XRP news, JPMorgan, Ripple, Mastercard, and Ondo Finance have completed a pilot transaction involving tokenized treasuries on the XRP Ledger (XRPL). This move comes as the tokenization wave grows, with the total RWA value on the XRPL rising.　　XRP News: JPMorgan, Ripple, Ondo Complete Tokenized Treasury Transaction　　In an X post, Ondo Finance announced that it had collaborated with JPMorgans tokenization arm, Kinexys, Ripple, and Mastercard to complete a landmark pilot transaction connecting the XRP Ledger to interbank settlement rails. The firm noted that this milestone marks the first time they have settled U.S. Treasuries across borders and banks in real-time and outside traditional banking windows.　　As to how they carried it out, Ondo revealed that it processed Ripple‘s OUSG redemption on the XRP Ledger, and that Mastercard’s Multi-Token Network then routed instructions to JPMorgan‘s Kinexys. Following that, JPMorgan delivered USD to Ripple’s Singapore bank account.　　Ondo Finance partnered with Ripple last year to introduce its Ondo Short-Term U.S. Government Bond (OUSG) on the XRP Ledger. Meanwhile, Ondo noted that tokenized assets are no longer separate from the global financial system. “For the first time, a public blockchain and global banking infrastructure settled a cross-border transaction of a tokenized fund together

05-07Industry

SpaceX Sells Full Colossus 1 Compute to Anthropic Weeks Before $1.75 Trillion IPO

SpaceX granted Anthropic full access to its Memphis-based Colossus 1 supercluster on Wednesday. The compute pact lands roughly five weeks before the rocket companys planned $1.75 trillion public market debut.　　The arrangement gives Anthropic over 300 megawatts of capacity and more than 220,000 NVIDIA GPUs deployable within the month. Meanwhile, the supply hands SpaceX a marquee AI customer ahead of its June Nasdaq listing.　　Compute Deal Lands Inside the SpaceX Roadshow Window　　SpaceX confidentially filed its S-1 with the Securities and Exchange Commission (SEC) on April 1. Bankers expect the offering to be the largest in U.S. capital markets history. The roadshow runs the week of June 8.　　Selling Colossus 1 capacity to a frontier AI lab gives underwriters fresh evidence for the AI infrastructure storyline.　　SpaceX merged with xAI in February, and the Anthropic agreement shows the cluster can serve external paying customers beyond Grok.　　“We‘ve agreed to a partnership with SpaceX that will substantially increase our compute capacity. This, along with our other recent compute deals, means that we’ve been able to increase our usage limits for Claude Code and the Claude API,” Claude shared in a post.　　AI Customer Demand Strengthens IPO Pitch　　For Anthropic, the deal doubles Claude Code rate limits for paid users

05-07Industry

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