Crypto Industry News & Market Trends

Core Scientific Buys Polaris Bitcoin Mine for $421M Oklahoma AI Power Expansion

Bitcoin　　Core Scientific Buys Polaris Bitcoin Mine for $421M Oklahoma AI Power Expansion　　This article first appeared in The Energy Mag. The original article can be viewed here. The Energy Mag (formerly The Miner Mag) provides news, data, and insights on the energy–compute–markets nexus.　　The company said Tuesday it plans to scale its Muskogee, Oklahoma campus to roughly 1.5 gigawatts of gross power, or about 1 gigawatt of leasable capacity, by combining acquisitions, grid expansion and behind-the-meter generation strategies.　　At the center of the expansion is Core Scientifics agreement to acquire Polaris DS LLC, a operator that controls 440 megawatts of contracted power through Oklahoma & Electric. The site is already energized and actively operating, allowing Core to potentially accelerate delivery timelines for future AI customers compared with greenfield developments that can take years to secure utility approvals and transmission access.　　The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals and other conditions.　　The deal highlights how large campuses — originally built for energy-intensive cryptocurrency operations — are increasingly becoming strategic targets in the AI infrastructure race because they already possess scarce grid access, substations and high-capacity electrical infrastructure.　　Core Scientific said construction has already started on a second, currently

05-07Industry

South Korea defends 22% crypto tax as fair amid calls to delay rollout

Crypto　　South Korea defends 22% crypto tax as fair amid calls to delay rollout　　South Koreas finance authorities have reaffirmed their commitment to launching a 22% tax on virtual asset gains in 2027, rejecting growing criticism from academics and industry participants who argue that the policy is inconsistent and unfair compared with the treatment of stock investors.　　The proposed crypto tax system has become a focal point of debate over fairness, classification, and system readiness.　　Under the proposal set to begin in January 2027, crypto profits will be taxed at 22% after a 2.5 million won annual exemption, with the rate composed of a 20% national tax and a 2% local tax.　　The policy comes at the same time that the government abolished the Financial Investment Income Tax on stock investors, prompting criticism that crypto investors are being disproportionately burdened and calls for rollout delay.　　At an emergency policy forum on virtual asset taxes on May 7, Moon Kyung-ho, head of the Income Tax Division at the Ministry of Economy and Finance maintained that the system is grounded in the principle that all income should be taxed where it arises and that there is no justification for delaying implementation, according to local media.　　Officials also firmly dismiss

05-07Industry

From $60M failure to crypto scam cop: The reinvention of 0xSisyphus

In any other industry, the leader of a $60 million fraud would likely not be given a platform from which to lecture the public on dishonesty. In crypto, however, that type of experience commonly qualifies candidates for jobs as scam cops.　　Pseudonymous trader 0xSisyphus, whose AnubisDAO ended in catastrophic failure, losing roughly 13,556 ETH, then worth about $60 million, has rebuilt a 153,000-follower platform on X as a blockchain cop.　　Fortunately — for 0xSisyphus, at least — younger members of Crypto Twitter (CT) have never heard about Anubis.　　In October 2023, anonymous investigator NFT Ethics claimed that OpenSeas ex-Head of Ventures, Kevin Pawlak, was behind the account.　　In a thread on X, NFT Ethics alleged that Pawlak ran “various very dubious business dealings” including “pump & dump schemes” through that pseudonym, including trying to unload a stake in his failing AnubisDAO onto Sam Bankman-Frieds Alameda Research.　　At the time, the immensely popular NFT marketplace OpenSea said it was unaware of any such activities involving Pawlak and, anyway, described his role as non-managerial.　　Maybe not theft, but negligence and lying　　ZachXBT, the most prominent on-chain investigator in crypto, disagreed with parts of the NFT Ethics thread.　　Although he blamed 0xSisyphus for “gross negligence” and “lying,” he stopped short of

05-07Industry

China thrives amid Trump trade war uncertainties at yuan reaches strongest since 2023

Beijing‘s central bank moved the yuan to its most powerful position against the American dollar in more than three years, marking another step in the country’s effort to grow its currencys global role while doubts about dollar holdings continue among investors.　　The People‘s Bank of China put the yuan’s daily reference point at 6.8487 per dollar on Thursday. This represents the best rate the Chinese currency has seen since April 2023. Just one day before, the rate had been set at 6.8562.　　Market watchers believe the yuan will keep getting stronger in coming months. Some think it could climb as far as 6.65 against the dollar before this year ends. But this rise might cause problems for Chinas huge export business.　　The yuan‘s climb comes as investors have mixed feelings about holding dollars. The American currency has faced strain lately because of worries about unclear policies in Washington, questions about Federal Reserve independence, and concerns about America’s money troubles over the long run.　　The dollar index measured 97.97 on Wednesday. Thats a big drop from where it started the year at 119.61.　　Humanoid robotics push set to extend Chinas manufacturing dominance　　Meanwhile, new research from Morgan Stanley suggests Chinas early advantage in humanoid robots will help

05-07Industry

Crypto traders face 22% tax as South Korea locks 2027 timeline

South Korea plans to start taxing virtual asset income on Jan. 1, 2027, according to a new public statement from the Ministry of Economy and Finance.South Korea plans to tax virtual asset gains above 2.5 million won from January 2027.The National Tax Service is preparing detailed guidance with Upbit, Bithumb, Coinone, Korbit, and Gopax.Political debate continues, but the Finance Ministry says crypto taxation will proceed as currently scheduled.　　Moon Kyung-ho, director of the ministry‘s income tax division, said at a National Assembly forum that the government would proceed with virtual asset taxation as scheduled. Local reports said this was the ministry’s first clear public stance on the launch date.　　Under the current Income Tax Act, income from virtual asset transfers or lending will be treated as other income. Annual gains above 2.5 million won will face a combined 22% tax rate.　　That includes 20% income tax and 2% local income tax. The rule will apply from income generated after Jan. 1, 2027.　　National Tax Service prepares guidance　　The National Tax Service is preparing detailed guidance for the new system. Moon said the guidance would be disclosed within 2026, after practical talks with major local exchanges.　　The tax agency is coordinating with Upbit operator Dunamu, Bithumb, Coinone,

05-07Industry

US Strategic Bitcoin Reserve Announcement Coming Within Weeks

Bitcoin　　US Strategic Bitcoin Reserve Announcement Coming Within WeeksWhite House confirms the Strategic Bitcoin Reserve announcement is coming within weeks.Federal agencies had crypto stored in desk drawers. A full audit is now underway.A $46 million US Marshals hack proved why proper Bitcoin custody is urgently needed.　　The Trump administration is preparing to go public with new details on the US Strategic Bitcoin Reserve within the coming weeks. Patrick Witt, executive director of the Presidents Council of Advisors for Digital Assets, made the announcement at the Consensus Miami conference on Wednesday.　　“Weve made a lot of progress in the background. We will make an announcement in the coming weeks laying out where we are going,” Witt said.　　What Has Been Happening Behind the Scenes　　Since President Trump signed the executive order establishing the reserve, federal agencies have been auditing, centralizing, and securing the digital assets they hold. Witt described the process as getting the governments house in order before making anything public.　　Witt said investigators found cold wallets being stored in desk drawers across various federal agencies. The administration halted what he described as fire sale liquidations of seized crypto assets that had been standard practice under the previous administration and began a full inventory of holdings

05-07Industry

CRV Price Prediction: $0.30 Breakout Imminent as Whales Load Up

Market Context: Why CRV is Moving Now　　CRV has surged 2.75% to $0.25, breaking free from weeks of sideways action that trapped most traders in no-man‘s land. The token’s emergence comes as DeFi protocols reclaim institutional attention, with Curves dominant position in stable swaps attracting serious capital flows documented by Blockchain.news analysis of recent market shifts.　　Binance volume hitting nearly $3 million signals institutional accumulation rather than retail speculation. This breakout above $0.25 marks CRVs first meaningful technical victory in months, clearing the path toward $0.30-0.32 where previous selling pressure exhausted itself during earlier rallies.　　Technical Picture Aligns　　The indicators are telling a cohesive story that contradicts CRVs recent underperformance. RSI sits at 62.27, providing ample runway before overbought conditions kick in, while MACD momentum is building steadily without showing any bearish divergence patterns that typically derail breakout attempts.　　CRVs position above its short-term moving averages confirms the trend shift, though it remains 24% below the 200-day average at $0.33. This gap represents a massive technical vacuum that price tends to fill during sustained rallies. The clean break above $0.25 removes the primary obstacle between current levels and the next resistance cluster.　　Smart Money Positioning　　Whale positioning reveals the clearest bullish signal in months. Top traders maintain

05-07Industry

Top Altcoins With High Growth Signals—Little Pepe ($LILPEPE) Enters Investor Watchlists

Finance　　Top Altcoins With High Growth Signals—Little Pepe ($LILPEPE) Enters Investor Watchlists　　As the crypto market continues to mature, investors are shifting their attention to altcoins that demonstrate growth potential through adoption, usefulness, and market momentum. Although big players in the market continue to give the much-needed stability, most of the significant gains during bullish times come from mid- and early-cap altcoins. Recent patterns are seeing more capital being allocated to altcoins that have real-life use and high community participation. These two aspects make for a perfect story for many altcoins as the capital starts flowing towards them.　　Chainlink ($LINK)　　The Chainlink project has remained one of the most important projects for blockchain infrastructure. It is currently at $9.26 with slight increase in its price in the last 24 hours. Chainlink is responsible for the oracle network that facilitates smart contracts‘ connectivity with outside data, hence, making it indispensable for Defi applications, gaming, and even enterprise applications. As Chainlink’s application on the Web3 space increases, its value grows.　　TRON ($TRX)　　TRON is still one of the highly active blockchains, especially in terms of stablecoin and DApp transactions. The networks popularity is attributed to its fast processing speed and low transaction fees. It is currently trading at

05-07Industry

CZK: CNB stance supports yields – Societe Generale

Finance　　CZK: CNB stance supports yields – Societe Generale　　Societe Generale analysts highlight that the Czech National Bank (CNB) is expected to keep its policy rate at 3.50% despite a rise in headline inflation to 2.5% year-on-year in April. Governor Michl has emphasized maintaining positive real rates to support savings. Money markets fully price two CNB hikes over six months, likely keeping 2-year yields elevated.　　CNB hikes priced as inflation edges higher　　“Elsewhere in CEEMEA [Central & Eastern Europe, Middle East and Africa], the Czech national bank is largely expected to leave its policy rate unchanged at 3.50% today shrugging off acceleration in headline inflation figure to a six-month high reading of 2.5% yoy in April.”　　“Governor Michl earlier this week stressed on the need to keep the real rates positive to encourage savings.”　　“The money markets are fully pricing two CNB rate hikes in the next six months (in line with the ECB).”　　“Hawkish CNB hints today should keep the front-end 2y local bond yields elevated.”

05-07Industry

$BTC Whales Lead Long Positions on Hyperliquid as Bitcoin Briefly Hits $82K

The leading cryptocurrency, Bitcoin ($BTC), has recently seen a notable spike in whale activity on Hyperliquid. Bitcoin ($BTC) whales are now aggressively opening long positions on Hyperliquid. As per the data from CoinMarketCap, this development takes place following Bitcoins brief surge to $82,000. Hence, this landmark highlights renewed confidence among the big crypto holders who look for wider exposure to $BTC.　　LATEST: ???? Bitcoin whales on Hyperliquid pushed net long positions to a 2026 high as BTC briefly passed $82K, its highest level in over three months, per Glassnode. pic.twitter.com/81u5Ac10Ps　　— CoinMarketCap (@CoinMarketCap) May 7, 2026　　Bitcoins Brief Move Above $82K Sparks Whale Longs on Hyperliquid　　Based on the on-chain data, Bitcoin ($BTC) is leaning more toward the bulls in the ongoing bull vs bear competition as whales are betting on long positions on Hyperliquid. Particularly, Bitcoins recent spike above the $82K spot significantly contributed to this rally. This move could shape the trajectory of the flagship crypto asset over the next few weeks, while institutional engagement keeps growing.　　While keeping in view this bullish sentiment surrounding Bitcoin ($BTC), the market onlookers consider this development to be an indication of the wider sentiment. So, some of them predict that the jump above the $82K mark,

05-07Industry

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