Crypto Industry News & Market Trends

Crypto’s Biggest Bill is Running Out of Time, Ripple CEO Explains Why

Ripple CEO Brad Garlinghouse has said the next two weeks could determine whether broad U.S. crypto legislation has a realistic path to becoming law before the political calendar becomes harder to manage.　　Speaking at Consensus Miami, Garlinghouse the Senate Banking Committee needs to move forward with a markup soon. He warned that if the committee does not act in the coming weeks, the chances of passing a market structure bill could fall sharply.　　The legislation, commonly tied to the CLARITY Act framework, aims to create federal rules for digital assets and divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission.　　US Senate Timeline Becomes Critical　　The House passed its version of the crypto market structure bill last year, but the Senate process has moved more slowly. A bill must advance through both the Senate Agriculture Committee and the Senate Banking Committee before reaching the full Senate.　　The Agriculture Committee has already moved its version forward. The Banking Committee has faced delays, including disagreements over stablecoin rewards, conflicts of interest, and illicit finance rules.　　A between Sens. Angela Alsobrooks and Thom Tillis on stablecoin rewards could clear one major obstacle. However, Garlinghouse said time remains the main challenge as the November midterm

05-06Industry

New Zealand’s Unemployment Rate falls to 5.3% in Q1 vs. 5.4% expected

New Zealands Unemployment Rate fell to 5.3% in the first quarter (Q1) of 2026 from 5.4% in the fourth quarter of 2025, according to the official data released by Statistics New Zealand on Wednesday. The figure came in below the market consensus of 5.4%.　　Furthermore, New Zealands Employment Change arrived at 0.2% in Q1, down from 0.5% in Q4, compared with the consensus forecast of 0.3%. The participation rate in New Zealand decreased to 70.4% in Q1, compared to 70.5% in the previous reading.　　Market reaction to the New Zealands employment data　　At the time of writing, the NZD/USD pair is trading 0.32% higher on the day to trade at 0.5890.　　Employment FAQs　　Labor market conditions are a key element to assess the health of an economy and thus a key driver for currency valuation. High employment, or low unemployment, has positive implications for consumer spending and thus economic growth, boosting the value of the local currency. Moreover, a very tight labor market – a situation in which there is a shortage of workers to fill open positions – can also have implications on inflation levels and thus monetary policy as low labor supply and high demand leads to higher wages.　　The pace at which salaries

05-06Industry

Evernorth Adds Ripple CLO to Board Before Nasdaq Debut

Evernorth appointed four new directors as it advances its planned Nasdaq listing in the United States.Stuart Alderoty, Ripples Chief Legal Officer, joined the board to strengthen regulatory oversight.Robert Kaiden, CFO of the OpenAI Foundation, will support financial reporting and transparency.Ted Janus brings over three decades of institutional investing experience to guide treasury management.Derar Islim adds operational expertise from his leadership roles at Genesis Global Trading.　　Evernorth advanced its U.S. listing plans after appointing four directors to its board. The company confirmed the additions as it progresses toward a Nasdaq listing. It also expanded its executive team and advanced its SEC registration process.　　Evernorth Expands Board Ahead of Nasdaq　　Evernorth confirmed it will appoint four directors after completing its merger with Armada Acquisition Corp. II. The company stated that the move supports its planned Nasdaq listing. It said the board expansion strengthens governance and operational oversight.　　Stuart Alderoty, Chief Legal Officer at Ripple, will join the board. He previously held senior legal roles at CIT and HSBC North America. Evernorth said his regulatory experience will guide compliance efforts.　　Robert Kaiden, Chief Financial Officer of the OpenAI Foundation, will also join the board. He earlier served as Twitters Chief Accounting Officer and worked as an audit partner

05-06Industry

Kelp Blames LayerZero for $292 Million Hack, Plans Switch to Chainlink

Kelp says LayerZero approved the setup tied to a $292 million exploit, which LayerZero disputes.The protocol is redesigning its cross-chain system after the hack.A U.S. court fight over $71 million in frozen funds could shape DeFi recovery rules.　　KelpDAO is blaming LayerZero for a $292 million exploit and plans to relaunch with a redesigned cross-chain system on Chainlink, the group announced on X on Tuesday.　　“From the April 18 incident, it is clear that LayerZeros own infrastructure was exploited, resulting in $300M in losses across DeFi,” Kelp DAO wrote on X. “Independent reports from SEAL 911, Chainalysis, and other major leading security researchers all point to the same origin.”　　In April, an attack drained about 116,500 rsETH—an Ethereum-based staking token—from a cross-chain bridge used by Kelp, a protocol that lets users stake Ethereum and move tokens between blockchains. The exploit has been linked to North Koreas Lazarus Group.　　In a separate post on X, Kelp said LayerZero personnel approved the configuration tied to the exploit and did not warn that it posed a security risk. The setup, known as a 1-of-1 verifier, relies on a single entity to validate cross-chain transactions.　　Kelp said the attack stemmed from a breach of LayerZero‘s infrastructure, where attackers compromised

05-06Industry

Avalanche (AVAX) Price Prediction: AVAX Eyes $10.80 Breakout as Price Holds Key $9 Support Zone

Avalanche (AVAX) is holding firm above the key $9 support zone as improving price structure and network efficiency keep traders focused on a potential breakout towards $10.80.　　AVAX price is starting to show signs of controlled recovery after weeks of weak price action. According to Brave New Coin, Avalanches current price is $9.27, up 0.54% in the last 24 hours, with a market cap of nearly $4.00 billion.　　AVAX Price Finds Buyers Near the $9 Zone　　AVAX price is showing a modest recovery after defending the lower end of its daily range. According to Brave New Coin, AVAX is trading around $9.27, up 0.54% over the past 24 hours, after rebounding from an intraday low near $9.05.　　The move is not yet a major breakout, but it does show that buyers are still responding around the $9.00–$9.10 area. For now, this zone remains the first support to watch, while a stronger push above $9.50 would be needed to confirm improving short-term momentum.　　AVAX and RSI Approach Breakout Structure　　The technical setup shared by ShangoTrades shows AVAX price and RSI moving within similar tightening structures. Price is forming a compression pattern, while RSI is also pushing against its own descending resistance, which often appears before a momentum

05-06Industry

Bitcoin Price Prediction: BTC Tests Breakout After 3-Month High

Bitcoin is pushing into a key resistance zone after its strongest daily close in three months.　　However, BTC still needs a clean breakout above trendline resistance and RSI pressure to confirm stronger momentum.　　Bitcoin RSI Keeps Breakout Unconfirmed　　Bitcoin traded near $80,470 on the 1 day BTCUSDT perpetual chart shared by Elja. The chart shows BTC recovering from its February low, but price has not confirmed a breakout above the rising resistance line.　　BTC moved from the lower $60,000 area toward the $80,000 zone during the recent recovery. However, the latest candle sits near the trendline, where Bitcoin still needs a clean daily close above resistance.　　Bitcoin RSI Resistance Chart. Source:　　The RSI also shows pressure near the upper resistance zone. It stood around 66.91, while the red resistance area sits near the 70 level. That means momentum has improved, but it has not entered a clear breakout phase yet.　　Elja said Bitcoin is still struggling against RSI resistance. The chart supports that view because the RSI has tested the same upper zone several times without a strong move above it.　　This setup matters because price and RSI are both near key resistance areas. If Bitcoin breaks above the trendline while RSI moves above the red zone, buyers

05-06Industry

Strategy Misses Wall Street Estimates By Huge Margin In Q1 Earnings Report

Strategy Inc. (NASDAQ:MSTR) reported a sharp earnings miss in the first quarter earnings report for 2026 after the market closed on Tuesday. The weak earnings were attributed to its Bitcoin losses, which were way beyond what analysts expected.　　Strategy Announces Q1 Earnings Results　　Strategy reported a loss per share of $38.25 on a diluted basis in the quarter ended March 2026 quarter. The figure was significantly worse than the Wall Street consensus estimate of a loss per share of 3.41.　　The earnings miss was mainly caused by a huge unrealized loss on digital assets. Strategy announced that it had recorded a markdown of $14.46 billion on its Bitcoin holdings in the quarter, pushing the total net loss to $12.54 billion. The company had reported a much smaller net loss of $4.22 billion a year later.　　The losses come as Bitcoin price plunged nearly 30% in the first quarter after the U.S.-Iran war weighed on the markets. However, the BTC price has since recovered well above the $81,000 level. This rebound has pushed Strategys BTC gains to $5.1 billion in the year-to-date timeframe.　　Meanwhile, the quarterly revenue stood at 124.3 million, slightly under the expectation at 124.6 million but generally within the range. This is a

05-06Industry

Ethereum Price Prediction: ETH Tests $2,375 as $2,646 Target

Ethereum is testing major resistance near $2,375 after reaching the top of its short term channel. A clean breakout could shift attention toward $2,550 and $2,646, while rejection may send ETH back to lower support zones.　　Ethereum Tests Major Channel Resistance Near $2,375　　Ethereum has reached the upper boundary of its 4 hour descending channel, according to the chart shared by Ali Charts. The chart marks $2,375 as the main resistance area, while nearby levels at $2,367 and $2,330 show the short term decision zone.　　Ethereum Channel Resistance Chart. Source:　　This resistance matters because Ethereum faced rejection from the same channel top in previous moves. Each failed attempt pushed ETH back toward lower channel levels, showing that sellers have defended this area more than once.　　If Ethereum fails to clear $2,375, the chart points to a possible retracement toward the lower boundary of the channel. Ali Charts marked that lower area near $2,210, with intermediate levels around $2,290 and $2,250.　　However, a daily close above $2,375 would change the short term setup. Ali Charts said that move could trigger a 7% bullish breakout, with the next structural target near $2,550.　　For now, Ethereum remains at a key resistance zone. The next signal depends on whether ETH confirms

05-06Industry

Is Bitcoin Building a Base Before Its Next Big Move Toward $88K?

Bitcoins move above $81K kept the unfilled $84K CME gap and $80.6K support in focus.Loukas said Bitcoins long rebound may signal base building rather than a brief countertrend rally.Whales bought 50,000 BTC in April while macro risks and the Fed meeting stayed in focus.　　Bitcoin has gained more than 20% over the past 30 days as market conditions improved and geopolitical tensions eased. The move pushed BTC near the $81,000 level for the first time since February, signaling renewed buying interest.　　Selling pressure returned soon after the breakout attempt. Still, the move placed Bitcoin near a key range as traders watch whether momentum could carry the asset toward higher resistance.　　Bitcoins 88-Day Move May Signal 2026 Cycle Low　　Analyst Bob Loukas said Bitcoin is getting close to the end of a natural countertrend move in a bear market. In an X post, he pointed to the $85,000 to $88,000 area as the zone now coming into focus.　　Loukas noted that this move looks different from a typical countertrend rally. He said such moves are usually sharper and shorter, while the current structure appears more like base building over a longer period.　　According to Loukas, Bitcoin has now spent 88 days since its low. He said no

05-06Industry

Solana Price Prediction: SOL/BTC Hits 2023 Low, RSI Warns

Bitcoin　　Solana Price Prediction: SOL/BTC Hits 2023 Low, RSI Warns　　Solana is facing fresh pressure as two weekly charts show weak momentum against both the dollar and Bitcoin. While SOLs RSI resembles its 2022 bear market setup, the SOL/BTC pair has now erased its meme season gains and fallen to its lowest level since October 2023.　　Solana RSI Warning: SOL Chart Mirrors 2022 Bear Market Setup　　Solana traded near $84.27, while its weekly RSI stood at 35.8, according to the chart shared by More Crypto Online. The RSI remains above the key oversold threshold of 30, but the structure still shows weakness after SOL failed to recover strongly from recent lows.　　Solana Weekly RSI Bear Market Comparison Chart. Source:　　The chart compares the current Solana setup with the 2022 bear market phase, when SOL moved sideways for an extended period before reaching its final low. More Crypto Online said the weekly RSI now resembles those earlier conditions, especially after traders pointed to Februarys oversold reading as a possible recovery signal.　　However, the analyst warned that the chart still needs confirmation. In technical analysis, an oversold RSI can show strong selling pressure, but it does not always confirm a bottom. Price often needs a clear upside impulse before

05-06Industry

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