Crypto Industry News & Market Trends

Berkshire Cash Hits $397B: Greg Abel vs. S&P 500 Gains

Berkshire Hathaway has entered Greg Abel‘s leadership era with a record cash position and a debate over returns. The company’s cash, cash equivalents, and short-term Treasury holdings reached $397 billion, according to market commentary tracking its latest quarterly balance sheet.　　The build-up comes as Berkshire sold a net $8.1 billion of stocks last quarter, marking its 14th straight quarter as a net seller. That stance places Abel‘s early decisions against a rising S&P 500, where investors compare Berkshire’s cash pile with broader equity gains.　　Berkshire Record Cash Tests Strategy　　Berkshires cash balance has one of the largest financial cushions in global markets. The company has long kept large reserves for insurance needs, acquisitions, and market stress, yet the latest level raises new questions after Warren Buffett stepped down.　　Berkshires cash balance | Source: X　　Market accounts noted that Berkshire held about $100 billion in cash in 2018, far below the current figure. Since then, the S&P 500 has delivered strong gains, while technology and artificial intelligence-linked shares have led much of the markets advance.　　Buffett built Berkshire around buying, strong operating businesses, and limited pressure to chase high-priced assets. Abel now inherits that system while cash earns income through Treasury bills, yet equity benchmarks remain a

05-05Industry

Coinbase CEO Announces 14% Staff Layoff

While he further admitted that Coinbases performance may experience some volatility from quarter to quarter, he mentioned that the company has decided to cut costs now to ensure it stays resilient and focused during uncertain periods.　　Coinbase integrates AI into workforce　　While arguments about the evolution of artificial intelligence being a threat to peoples jobs have been longstanding, the sudden move from Coinbase has further reignited the debate as it appears to provide supporting evidence.　　In Armstrong‘s statement, he emphasized that the company’s decision to lay off a significant portion of its staff is not just about market conditions, but rather about how work itself is evolving.　　The CEO stressed the growing role of artificial intelligence within the company, noting that tasks that once took weeks can now be done in days with the help of AI.　　The company believes that its integration of AI will see teams get smaller but more productive, as even employees without technical backgrounds are beginning to build tools and solutions using AI.

05-05Industry

Risk Assets Climb as US Jobs, Housing Data Beat Estimates

Bitcoin, S&P500, and Nasdaq Performance. Source: TradingViewBitcoin and Equities Track the Soft-Landing Narrative　　Bitcoin price action mirrored equities, advancing roughly $1,000 from the intraday low before settling near $81,266. Meanwhile, the S&P 500 spiked from around 7,200 to 7,253, while the Nasdaq 100 climbed to 27,964.　　Crypto traders treated the data as a continuation of risk-on conditions seen across stocks. Strong labor demand supports consumer spending and corporate earnings, two pillars of the current rally.　　The US Economy didn‘t flinch…… It’s showing real strength here after months of Hormuz headlines and soaring oil prices..　　Risk on conditions are improving.. ????　　ISM Services holding above 53. JOLTs steady at 6.87M. New Home Sales bouncing +7.4% MoM.　　With services prices and oil-related pressures still elevated, however, the Fed appears unlikely to rush rate cuts.　　Whether risk assets can extend gains likely hinges on how the next inflation print lands. Traders will watch for confirmation in upcoming labor and consumer data.　　The post Risk Assets Climb as US Jobs, Housing Data Beat Estimates appeared first on BeInCrypto.

05-05Industry

Disney (DIS): Disney getting ready to rally

Key structural elements:　　The decline into the lows forms a completed abc correction, labeled as Wave (II)　　Price action near the bottom shows loss of downside momentum, a typical characteristic of terminal corrective waves　　A developing structure labeled I-II suggests that a new impulsive sequence may already be underway　　The presence of higher lows and the stabilization above the invalidation level (~$78.85) is particularly important. In Elliott Wave terms, this level acts as a line in the sand:　　Holding above it supports the bullish count. Breaking below it would invalidate the immediate impulsive interpretation and suggest further downside.　　The phrase “getting ready to rally” is appropriate—but its important to interpret it correctly within Elliott Wave logic.　　This is not about a sudden, random spike. Instead, it reflects:A completed multi-year correction or Wave (II).A base-building phase that resets sentiment and valuation.The early stages of a new impulsive trend.　　If the structure plays out as expected, the upside path could involve:A break above intermediate resistance (~$110–$120 zone).Acceleration into Wave (III), potentially targeting significantly higher levels over time.A longer-term retest—and possible breakout —of prior all-time highs.　　Conclusion　　Disneys current price structure suggests a market at the end of correction and the beginning of expansion. The multi-year decline appears to have fulfilled the requirements

05-05Industry

Standard Chartered expands further into crypto with stake in GSR at $1 billion valuation

Standard Chartered PLC‘s (STAN) venture capital division SC Ventures invested in GSR, as the London-based multinational bank seeks to further expand its digital asset services, the crypto capital market’s firm announced Tuesday.　　The investment agreement, which according to Bloomberg was $150 million at a valuation of more than $1 billion, is the first external stake into the crypto capital markets and liquidity partner firm since its founding in 2013 by former Goldman Sachs traders.　　GSR and SC Ventures did not immediately respond to a CoinDesk request for comment.　　In its statement, GSR said the deal is part of a broader partnership to bridge traditional finance and digital assets, and to expand access to tokenization.　　“Institutional digital asset markets are maturing rapidly, and the firms best positioned to lead will be those that combine deep capital markets expertise with trusted banking infrastructure,” said Xin Son, CEO at GSR.　　SC Ventures and GSR plan to develop scalable market infrastructure in light of increasing institutional demand for regulated crypto services.　　“The next phase of the digital asset evolution will be defined by the strength of infrastructure,” said Alex Manson, CEO at SC Ventures.　　Standard Chartered has recently made financial investments aimed at expanding its digital asset footprint. In January 2025,

05-05Industry

US ISM Services PMI eases to 53.6 in April

Economic activity in the US services sector lost some momentum in April, with the ISM Services PMI easing to 53.6 from 54 in the previous month, coming in below analysts expectations.　　Further poll results found that the Prices Paid Index, a crucial barometer of inflation, held steady at 70.7, while the Employment Index rose to 48 from 45.2, indicating a modest improvement in labour market conditions in the services sector. Finally, the New Orders Index weakened to 53.5 from 60.6.　　Market reaction　　The Greenback navigates an inconclusive range following the release, with the US Dollar Index (DXY) alternating gains with losses in the 98.50-98.40 band.　　GDP FAQs　　A countrys Gross Domestic Product (GDP) measures the rate of growth of its economy over a given period of time, usually a quarter. The most reliable figures are those that compare GDP to the previous quarter e.g Q2 of 2023 vs Q1 of 2023, or to the same period in the previous year, e.g Q2 of 2023 vs Q2 of 2022.　　Annualized quarterly GDP figures extrapolate the growth rate of the quarter as if it were constant for the rest of the year. These can be misleading, however, if temporary shocks impact growth in one quarter but are unlikely

05-05Industry

Ondo Gains Institutional Backing Through DTCC Working Group Selection

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.　　My parents are literally the backbone of my story. They‘ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.　　I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.　　When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.　　Trust me, I‘ve had my share of experience with the ups and downs in the market but I never for once lost

05-05Industry

Fiserv (FISV) Stock Plummets 7% Following Disappointing Q1 Revenue Decline

Fiserv shares declined approximately 7% following first-quarter 2026 earnings that revealed a 4% contraction in organic revenue alongside compressed margins in key divisions.While adjusted EPS of $1.79 exceeded the Street estimate of $1.57, GAAP earnings plunged 29% compared to the prior year.Full-year 2026 EPS guidance came in at $8.00–$8.30, essentially matching the $8.11 analyst consensus but signaling year-over-year earnings compression.Wall Street firms responded swiftly, with Morgan Stanley slashing its price target from $81 down to $64 and several other firms following suit.Shares currently trade near $62.81, significantly below the 12-month peak of $191.91, carrying a consensus “Hold” recommendation with an average price objective of $92.14.　　Shares of Fiserv (FISV) tumbled roughly 7% this Tuesday following the release of first-quarter 2026 financial results that left investors questioning the companys growth trajectory. The payment technology provider opened trading at $62.81, marking a stark departure from its 52-week high of $191.91.　　Fiserv, Inc., FI　　The financial technology firm delivered adjusted earnings per share of $1.79, surpassing analyst expectations of $1.57 by a margin of $0.22. While this represents a technical beat, the positive headline failed to inspire confidence among market participants.　　The quarters organic revenue declined 4%, affecting both primary operating segments—Merchant Solutions and Financial Solutions—and creating

05-05Industry

Ethereum’s biggest staker has just become a public company with over $10 billion locked up

Bitmine has staked more than $10 billion in ETH, making it the largest corporate Ethereum treasury company and a yield-generating bet on the networks proof-of-stake economy.　　On May 4, the Las Vegas-based company said its staked ETH position stood at 4.36 million tokens, valued at $10.2 billion at ETHs average price of $2,336.　　The position represents more than 84% of BitMine‘s total ETH holdings and gives the company one of the largest visible corporate exposures to Ethereum’s validator system.　　BitMine said it held 5.18 million ETH as of May 3, equal to about 4.29% of Ethereums total supply. The company also reported 200 Bitcoin, $700 million in cash, an investment in Beast Industries, and a stake in Eightco Holdings, bringing total crypto, cash, and “moonshot” holdings to $13.1 billion.　　BitMine‘s Key Metrics (Source: BitMine)Ethereum’s treasury bet becomes a staking business　　BitMine said its staking operations are generating annualized revenue of about $297 million, based on a seven-day annualized yield of 2.91%.　　Chairman Thomas “Tom” Lee said projected annual staking rewards could reach $352 million once the companys ETH holdings are fully staked through MAVAN, its Made in America Validator Network, and other staking partners.　　The disclosure shifts BitMines Ethereum strategy from a balance-sheet-accumulation move to a recurring-revenue

05-05Industry

USD/CAD: Bearish bias holds below resistance – Scotiabank

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is slightly firmer with USD/CAD holding near prior ranges. A softer US Dollar (USD) and firmer risk appetite are seen as mildly supportive for the CAD, while fair value has shifted lower toward 1.3424. Technicals remain bearish, with focus on a move back toward the 1.35 area.　　CAD supported as fair value drops　　“The CAD is edging a little firmer in early trade here but spot is holding close to yesterdays ranges. A somewhat softer USD and some potential firming in risk appetite should be mildly CAD-supportive in the short run”　　“Broader factors continue to tilt positively for the CAD, driving our fair value estimate for spot lower to 1.3424 this morning. The USD remains close to 1 standard deviation above its equilibrium estimate which should help limit USD gains and maintain a mild downward bias on spot at least.”　　“Bearish—Minor USD gains overnight topped out around 1.3625/30, former support (76.4% Fibonacci of the USDs March rally).”　　“The sustained break under retracement support plus the bearish alignment of trend oscillators across the intraday, daily and weekly studies maintains our focus on the potential for USD losses to extend back to the early March

05-05Industry

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