Crypto Industry News & Market Trends

21Shares TCAN ETF brings Canton Network exposure to U.S. investors

21Shares has launched the 21Shares Canton Network ETF, trading under the ticker TCAN on Nasdaq. 21Shares launched TCAN on Nasdaq, giving U.S. investors ETF exposure to Canton Coin through brokerages.Canton targets institutional settlement, privacy, and tokenized markets backed by banks and technology firms globally.Recent regulated access from AMINA adds context as Canton moves deeper into traditional finance markets.　　In a Thursday press release, the issuer said the fund is the first U.S. ETF built to give investors exposure to Canton Coin, the native utility token of the Canton Network.　　The fund began with a 0.50% gross expense ratio and an inception date of May 7, 2026. 21Shares US LLC is listed as the issuer. The launch gives investors access to Canton through a listed investment product rather than direct token custody.　　Canton targets institutional finance　　Canton Network is a privacy-enabled blockchain system built for capital markets. The 21Shares release said institutions such as Goldman Sachs, Microsoft, and Deutsche Bank have participated in testing or served as validators or governance participants.　　21Shares said those names should not be read as endorsements of Canton Coin, Canton Network, or TCAN. Andres Valencia, EVP of Investment Management at 21Shares, said,　　“The Canton Network has attracted significant institutional interest given its

05-08Industry

Oil: Volatile swings on war headlines – Rabobank

Finance　　Oil: Volatile swings on war headlines – Rabobank　　Rabobanks Senior Economist Maartje Wijffelaars highlights extreme volatility in Oil, with Brent dropping to $93 per barrel before spiking above $102 as shifting war headlines from Washington drive sentiment. He notes thin liquidity, algorithmic trading dominance and labels the recent fall from around $115 in Brent as premature, underlining ongoing risks around the Strait of Hormuz.　　Brent swings on war and liquidity　　“Oil markets are experiencing extreme volatility, reacting to every new – often conflicting – signal from the White House on the wars outcome. Thin liquidity is amplifying these moves, as many traders have exited the market, leaving mostly algorithmic traders and oil producers. Meanwhile, Reuters reported yesterday that the amount and size of suspicious trading activity ahead of White House announcements about easing tensions – and subsequent oil price declines – was larger than previously thought, totalling about $7bn in March and April.”　　“Over the past 24 hours, Brent initially fell to a recent low of $93 per barrel on hopes of an imminent resolution, before surging to an overnight peak of $102.9 as those hopes faded. At the time of writing, Brent futures stand at $100.2 per barrel, down from around $115 earlier

05-08Industry

USD/JPY Recovery Stalls Below 157.00 As Intervention Fears Persist

Tech　　USD/JPY Recovery Stalls Below 157.00 As Intervention Fears Persist　　The USD/JPY currency pair has seen its recovery stall below the 157.00 level during Wednesdays trading session, as lingering fears of Japanese intervention continue to cap upside momentum. After briefly touching a low of 156.50 earlier in the week, the pair attempted a rebound but failed to sustain momentum above the psychological 157.00 mark.　　Intervention Risks Weigh on Yen Sentiment　　Market participants remain on edge following recent warnings from Japanese officials about excessive yen weakness. The Ministry of Finance has repeatedly signaled readiness to intervene if speculative moves threaten the currencys stability. This persistent threat has created a cautious environment where traders are reluctant to push the pair significantly higher.　　Japans top currency diplomat, Masato Kanda, reiterated earlier this week that authorities are watching the market with a high sense of urgency. While no direct intervention has occurred since late 2024, the mere possibility has been enough to keep USD/JPY within a relatively tight range.　　Interest Rate Differentials Remain the Core Driver　　Despite the intervention overhang, the fundamental driver of yen weakness remains the wide interest rate differential between Japan and the United States. The Bank of Japan has maintained its ultra-loose monetary policy, while the Federal

05-08Industry

EUR/GBP: Local election fallout keeps Pound fragile – ING

Finance　　EUR/GBP: Local election fallout keeps Pound fragile – ING　　INGs Francesco Pesole argues the Pound remains vulnerable as United Kingdom (UK) local election results show heavy losses for Labour and early calls for Prime Minister Starmer to resign. Pesole notes GBP weakness preceded the vote on softer risk sentiment, but sees upside risks for EUR/GBP given no prior political risk premium and potential concerns over future UK borrowing under alternative leadership.　　Political stress supports EUR/GBP　　“The UKs ruling Labour Party has suffered heavy losses as the results of council elections start to come in. Most areas are yet to declare results, including in the crucial Scottish and Welsh parliamentary elections. Some Labour figures are already out this morning calling on Prime Minister Starmer to go.”　　“Investors will be watching the cabinet closely for signs of pressure or even resignations, as markets weigh up the possibility of an increase in borrowing later this year under different leadership scenarios.”　　“The pound had weakened yesterday before any news about early voting results emerged, largely on the back of softer risk sentiment. Still, some politics-related bearish positioning might have also played a role.”　　“EUR/GBP is little changed this morning, but given that no political premium was priced in ahead of

05-08Industry

Block Shares Jump on Strong Quarter Despite Bitcoin Dip

Bitcoin　　Block Shares Jump on Strong Quarter Despite Bitcoin Dip　　Jack Dorseys payments firm Block rose 7.9% in after-hours trading as its Q1 earnings surpassed analyst estimates, despite posting its first loss in three years.　　Block came out with quarterly earnings of 85 cents per share, beating the Zacks consensus estimate of 68 cents per share. Investors responded positively, driving Block shares to $75.70 after hours, Google Finance data shows.　　“This quarterly report represents an earnings surprise of +25.68%,” said Zacks Equity Research on Thursday. “Over the last four quarters, the company has surpassed consensus EPS estimates two times.”　　Expanding Bitcoin‘s use into the payments space has been a key area of focus for Dorsey, who previously argued that widespread payment adoption is needed to fulfill Satoshi Nakamoto’s original vision of Bitcoin as a peer-to-peer electronic cash system. In late April, Block noted that over 800,000 US-based merchants have enabled Bitcoin transactions for everyday purchases.　　Block reports first quarterly loss in three years　　The earnings beat came despite Block reporting its first quarterly loss since 2023, driven by a 23.8% drop in the price of Bitcoin over the three-month period.　　Q1 net loss was $309 million, which included a $172.8 million Bitcoin remeasurement loss on the 8,883 Bitcoin

05-08Industry

Machine learning algorithm predicts Google stock price on May 31, 2026

The technology giant Google (NASDAQ: GOOGL) achieved notable stock market success in 2026 thanks to a rally that started in late March and had a particularly impressive phase at the very end of April in the wake of the most recent earnings.　　Still, while GOOGL shares are up 27.64% year-to-date (YTD) and changing hands at $399.53, their advance has slowed down somewhat by May 8, enabling Nvidia (NASDAQ: NVDA), for example, to once again extend its lead against the worlds second biggest company.　　Google stock price YTD chart. Source: Finbold　　Under the circumstances and with the continued confidence, the artificial intelligence (AI) bull market will persist, but also anxiety generated by the rapid market capitalization accumulation with few truly verifiable AI-created profits, Finbold consulted its own predictive machine learning algorithm about where Google stock might be by May 31: the months end.　　Finbold AI Agent predicts Google stock price on May 31, 2026　　After employing technical analysis (TA) involving tools and indicators such as oscillators, moving averages (MA), and the relative strength index (RSI), the four models involved with Finbolds AI agent arrived at a cautiously bullish forecast for GOOGL shares.　　Indeed, though the majority of agents forecasted at least a small rally for Alphabet‘s equity,

05-08Industry

IREN (IREN) Stock Rockets 27% Following Major Nvidia Deal and Spain Acquisition

IREN Limited, IREN　　The company unveiled a strategic alliance with Nvidia (NVDA) focused on rolling out up to 5 gigawatts of AI-focused infrastructure. Concurrently, IREN disclosed plans to purchase Ingenostrum, a data center development firm based in Spain, alternatively known as Nostrum Group.　　Prior to these announcements, IREN shares were hovering near $56. The after-hours surge drove the stock substantially higher, demonstrating strong investor enthusiasm for both initiatives.　　IREN and @nvidia have announced a strategic partnership to accelerate deployment of up to 5GW of next-generation AI infrastructure. The companies have also signed a $3.4bn contract under which $IREN will provide AI infrastructure cloud services for NVIDIA internal AI and… pic.twitter.com/0SMzSYQjul　　— IREN (@IREN_Ltd) May 8, 2026　　The collaboration with Nvidia revolves around implementing Nvidia‘s DSX-optimized accelerated computing infrastructure throughout IREN’s worldwide data center network. The partnership encompasses compute resources, networking systems, software platforms, power management, and operational coordination.　　A significant portion of this development will take place at IREN‘s Sweetwater facility in West Texas. With a total capacity of 2 gigawatts, this location is positioned to become the flagship demonstration site for Nvidia’s DSX AI factory architecture.　　Jensen Huang, Nvidias founder and CEO, emphasized that AI factories are emerging as critical infrastructure for the worldwide economy, noting

05-08Industry

Bithumb To Temporarily Halt Bitcoin Cash Transactions For Network Upgrade On May 15

South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for Bitcoin Cash (BCH), effective May 15 at 8:00 a.m. UTC. The exchange stated that the halt is necessary to support an upcoming network upgrade for the cryptocurrency.　　Scheduled Suspension Details　　According to an official notice from Bithumb, the suspension will affect all BCH deposit and withdrawal services. The exchange has not yet specified an exact time for resumption, but such maintenance periods typically last several hours to a full day, depending on the complexity of the upgrade and network stability. Users are advised to complete any pending transactions before the cutoff time to avoid delays.　　Network Upgrade Context　　Bitcoin Cash, a fork of Bitcoin created in 2017, undergoes periodic network upgrades to improve scalability, security, or functionality. While Bithumb did not specify the exact nature of the upgrade, these events often involve protocol changes that require exchanges to update their systems. Similar suspensions have occurred in the past for other cryptocurrencies during major upgrades, such as Bitcoin‘s Taproot or Ethereum’s transitions.　　What This Means for Traders and Holders　　For Bithumb users holding or trading BCH, the suspension means that during the maintenance window, they will not be able to move funds

05-08Industry

GBP/JPY extends gains as UK awaits local elections results

Finance　　GBP/JPY extends gains as UK awaits local elections results　　The Pound Sterling (GBP) is one of the strongest performers on Friday, showing moderate gains against the Japanese Yen (JPY). The GBP/JPY pair returns above 213.00 at the time of writing, and is on track to end the week near opening levels. The Sterling has managed to pare losses from an alleged intervention from Japanese authorities on Wednesday as traders await the results of Thursdays UK local elections.　　The GBP manages to shrug off the first results from polls in the UK, which so far point to a significant reversal for the Labour Party. Prime Minister Keir Starmer‘s ruling party has lost control of eight councils amid the emergence of Nigel Farage’s Reform UK, which, according to partial scrutiny, has taken more than 350 seats in local councils.　　Starmer said earlier on Friday that he takes responsibility for a highly likely reversal, but assured that he is not thinking of resigning: “I am not going to walk away and plunge the country into chaos,” he said after the first results of the voting were published.　　Traders, on the other hand, are likely to be wary of holding large Japanese Yen shorts as risks of further

05-08Industry

Multi Investment Raises $616M To Accelerate Blockchain, Web3, And Fintech Ventures

Blockchain　　Multi Investment Raises $616M To Accelerate Blockchain, Web3, And Fintech Ventures　　Swiss asset management firm Multi Investment has secured 480 million Swiss francs ($615.89 million) in new capital, earmarking the funds for expansion into next-generation technologies including blockchain, Web3, fintech, deep tech, and biotechnology. The announcement, made via a PR Newswire press release, signals a strategic pivot toward high-growth, emerging sectors as the firm seeks to diversify its portfolio beyond traditional asset classes.　　Strategic Capital Raise and Investment Focus　　The newly raised capital will be deployed across several verticals identified by Multi Investment as key growth areas. The firms decision to allocate significant resources to blockchain and Web3 underscores a broader institutional shift toward decentralized technologies, even amid fluctuating market conditions. Fintech and deep tech—encompassing artificial intelligence, advanced computing, and other frontier technologies—are also central to the strategy, alongside biotechnology, which has seen renewed investor interest following recent breakthroughs in genomics and personalized medicine.　　This move positions Multi Investment alongside a growing number of traditional asset managers that are actively incorporating digital assets and Web3 infrastructure into their long-term investment theses. The capital raise itself, totaling nearly $616 million, is one of the larger such rounds in the Swiss asset management sector this year,

05-08Industry

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