Latest Crypto News & Market Updates

Polymarkets $700K exploit targets USDC, POL - Are user funds safe?

Another day, another crypto exploit.　　Crypto hacks have accelerated in 2026, and someone targeted Polymarket on the 22nd of May. Here is how the exploit happened on the worlds largest prediction markets:　　Explaining Polymarkets exploit　　According to ZachXBT, Polymarkets UMA CTF Adapter was exploited on the Polygon [POL] network, and more than $700K has been laundered. The hacker drained roughly $458K USDC and more than $200K POL on the UMA CTF Adapter contract.　　The attacker looks to have compromised a private key tied to the rewards payout system. The hack came after a new rebate program was introduced. Shantikiran Chanal said,　　Were aware of the security reports linked to rewards payout.　　Looking into the details, the hacker then siphoned 5,000 POL every thirty seconds to a single address. The funds have since been distributed to 16 addresses and then moved to centralized exchanges (CEXs) and other services like mixers.　　Source: Bubblemaps　　ZachXBT has previously called out some of these CEXs used to launder money for failing to freeze stolen funds. These exchanges include KuCoin and HTX, among others.　　ZachXBT and Bubblemaps have asked traders to pause Polymarket activities for now. However, Polymarkets staff assured users of safety for their funds.　　Polymarket statement as community reacts　　A software engineer at Polymarket, Shantikiran

05-23Industry

Trump Media moves over 2K BTC to crypto.com, what does it mean for Bitcoin?

Transferred funds remain in the Crypto.com wallet.　　Earlier this year, Trump Media moved 2,000 Bitcoin valued at roughly $175 million when Bitcoin (BTC) traded around $87,378. Since then, the market has weakened further, with Bitcoin hovering near $77,700 at the time of the latest transfer.　　Corporate treasury losses deepen　　Based on Trump Medias previous disclosures, the company originally accumulated 11,542 BTC at an average purchase price of about $118,522 per coin, spending close to $1.37 billion on the position. At current market prices, the remaining treasury has fallen well below its entry level.　　Quarterly filings released by the company showed that its Bitcoin holdings had already declined to 9,542 BTC after the first transfer. Following the latest 2,650 BTC movement flagged by Lookonchain, the stash now appears to stand near 6,889 BTC.　　Recent financial results have already shown the impact of the downturn. Trump Media reported a $405.9 million net loss for Q1 2026, with $368.7 million tied to unrealized markdowns on digital assets, pledged crypto assets, and equity securities.　　Within the filing, the company disclosed that its Bitcoin holdings carried a cost basis of roughly $1.13 billion while their fair value had dropped to about $647 million by the end of March. Trump Media also

05-23Industry

Will Bitcoin price revisit $76K as bullish trendline support collapses?

The breakdown also pushed Bitcoin beneath its 20-day moving average around $79,375 while keeping the price trapped below the 200-day moving average near $80,825.　　Meanwhile, the 50-day moving average around $76,427 has emerged as the next major technical support. Daily candles are now compressing between declining short-term resistance and the rising 100-day moving average near $72,553.　　The MACD histogram on the daily chart has turned negative, while the MACD line itself is beginning to cross lower beneath the signal line. Earlier bullish momentum from Aprils recovery phase has faded steadily throughout May as buyers failed to produce a convincing breakout above resistance.　　Liquidation data from CoinGlass suggests Bitcoin may still be vulnerable to another sweep lower before stabilization occurs. The 24-hour liquidation heatmap shows dense long liquidation clusters sitting between $76,000 and $76,500, with another concentration near $74,000. Large liquidity pockets above the current price remain concentrated near $78,000 to $79,000, potentially acting as short-term magnets during relief bounces.　　Bitcoin liquidation heatmap | Source: CoinGlass　　Crypto trader Lennaert Snyder said Bitcoins daily candle had closed “pretty weak” after failing to reclaim the $78,200 highs. According to Snyder, the market remains trapped in a choppy mid-range structure, with a likely sweep of “sell-side liquidity at the

05-23Industry

Tom Lee says SpaceX, OpenAI and Anthropic IPOs could reshape markets

Tom Lee, chairman of Bitmine Immersion Technologies and co-founder of Fundstrat, does not expect the coming wave of mega IPOs to derail markets even if they could eclipse the entire dot-com boom in scale.　　Lee recently discussed the potential effect of SpaceX, Anthropic, and OpenAI listing which could unleash trillions of dollars in new equity supply into public markets.　　In inflation adjusted terms, Elon Musks SpaceX alone could become the second largest IPO ever, seeking a market valuation above $1.5 trillion, behind only Saudi Aramco.　　Lee acknowledged concerns about the amount of supply these listings could introduce into public markets, especially after the standard 90-day lock-up periods expire. He noted that SpaceX is likely the most anticipated IPO ever, Lee estimates the three IPOs could generate trillions in supply, equivalent to roughly 5% to 6% of the S&P 500s total market capitalization.　　Despite the scale, Lee does not believe the situation is necessarily outright bearish for the markets. He argues that family offices, pensions, and high net worth investors currently hold historically low allocations to public equities after years of favoring private markets and alternative investments.　　There is significant capital available to absorb the liquidity as allocations rotate back toward U.S. public stocks, in Lees

05-23Industry

Bitcoin-owning Kevin Warsh sworn in as Fed chair by Trump at White House

Kevin Warsh took the oath as Federal Reserve chair at the White House on Friday morning, giving President Donald Trump a new Fed chief at a rough time for the U.S. economy.　　Supreme Court Justice Clarence Thomas swore him in. Treasury Secretary Scott Bessent, Federal Housing Finance Agency Director Bill Pulte, National Economic Council Director Kevin Hassett, and Justice Brett M. Kavanaugh were also at the ceremony.　　Kevin now has to deal with a president who wants much lower interest rates, a Fed board that does not fully agree on inflation, and traders who think the next rate decision may not be a cut at all. It may be a hike.　　Kevin takes the Fed job as Trump demands cheaper money and inflation stays hot　　Trump used the ceremony to say Kevin should make his own calls at the central bank, even though Trump has been loud about wanting lower rates.　　“I want Kevin to be totally independent. I want him to be independent and just do a great job. Don‘t look at me. Don’t look at anybody. Just do your own thing. Do a great job. Okay？” Trump said. “We want to stop inflation, but we dont want to stop greatness.”　　Kevin has not been

05-23Industry

F2Pool co-founder joins SpaceX’s 2-year Mars flyby plan

F2Pool co-founder Chun Wang plans to join SpaceXs Starship program for a two-year mission that would fly beyond the Earth-Moon system and past Mars.F2Pool co-founder Chun Wang plans to join SpaceXs two-year Starship mission for a Mars flyby.Wang previously commanded Fram2, the first human spaceflight to fly over Earths polar regions.F2Pool remains a major Bitcoin mining pool, holding about 10% market share by recent data.　　SpaceX has announced Wang as part of a planned Starship mission that would travel beyond the Earth-Moon system, conduct a Mars flyby, and return to Earth. Universe Today reported that SpaceX described the trip as a two-year round journey, though no launch date has been announced.　　Chun will also join Starships first commercial spaceflight around the Moon　　— SpaceX (@SpaceX) May 21, 2026　　Wang said the mission would start with a flyby rather than a landing. He said “Its going to be a flyby mission of Mars,” adding that such a flight could help build momentum for future missions.　　Lunar flight comes before Mars　　Before the Mars trip, Wang is expected to join Dennis Tito and Akiko Tito on a planned commercial Starship flight around the Moon. The weeklong mission would pass within about 200 kilometers of the lunar surface, according

05-23Industry

Can Solana price overcome double-top resistance and rally above $100?

Momentum indicators have weakened but have not fully rolled over into bearish territory. The MACD histogram on the daily timeframe remains negative, although selling momentum has gradually faded over the past several sessions. Weekly MACD readings have also started stabilizing after months of persistent downside pressure, raising the possibility of a medium-term trend reversal if buyers reclaim higher resistance levels.　　From a structural perspective, traders are closely monitoring the 0.382 Fibonacci retracement region between $87 and $90. Analysts view sustained closes above that area as an early confirmation that Solana may be transitioning out of its post-double-top consolidation phase. A breakout above $90 could expose liquidity near $95 before opening the path toward the key psychological barrier at $100.　　According to analyst Javon Marks, Solana is once again holding a long-term support area that previously triggered explosive rallies. In a recent market update, Marks said one historical rebound from the level generated an 80% rally while another produced gains exceeding 270%.　　“With prices showing strength off of this support level again, we are watching for an over 165% climb to test a key technical level at $233.8 again,” Marks wrote in a May 22 X post.　　Everyone loved $SOL at $295. Nobody wants it

05-23Industry

House Oversight Committee Launches Probe into Polymarket and Kalshi Over Insider Trading

Comer stated that the committee was “examining the adequacy of company safeguards to prevent access to offshore sites to circumvent compliance with applicable U.S. federal regulations governing prediction market platforms.”　　The probe follows a series of reports linking over 80 Polymarket users to insider trading after “suspiciously timed bets” before military actions were taken against Iran, and Kyle Langfords $200 wager on his own California race using Kalshi.　　During a recent interview on CNBC, Comer stressed the need for regulations in the prediction market space, calling it the “Wild West.”　　“It‘s the wild west. There are no rules there. You know, you and I may think we know what’s ethical and what‘s not, but there’s no written law against it,” he declared.　　Comer also pointed out the insider trading situation involving Gannon Ken Van Dyke, a U.S. soldier who participated in the operation against Venezuelas Nicolas Maduro and profited over $400K from his personal bets on Polymarket, as a wake-up call.　　“There‘s a concern now that members of Congress, members of the president’s administration, or any type of government employee could use basic insider knowledge and make huge profits on anything government-related,” Comer declared, stressing that this upcoming probe might be used to prove the

05-23Industry

Why Harvard Just Dumped $87 Million in Ethereum ETF Shares

Harvard University‘s endowment fund has aggressively scaled back its exposure to cryptocurrencies. According to recent regulatory filings, the world’s largest academic endowment fund reversed its bullish stance on crypto assets during the first quarter of the year.　　The move highlights an emerging divergence among Wall Streets elite regarding the long-term viability of spot crypto products. While some multi-billion-dollar entities continue to accumulate digital assets, others are rapidly taking profits or mitigating risk amid a choppy macroeconomic landscape.　　What Did Harvard Sell？　　The latest Form 13F filed with the U.S. Securities and Exchange Commission (SEC) reveals that the Harvard Management Company (HMC) completely eliminated its $86.8 million position in BlackRocks iShares Ethereum Trust (ETHA).　　Compounding this full exit, Harvard also downsized its position in BlackRocks iShares Bitcoin Trust (IBIT) by roughly 43%. The endowment offloaded approximately 2.3 million shares of the spot Bitcoin ETF, leaving it with 3,044,612 shares valued at approximately $117 million at the end of the quarter.　　Understanding Institutional Rebalancing and 13F Filings　　To contextualize Harvards recent trades, it is essential to define what these regulatory disclosures mean. A Form 13F is a quarterly report required by the SEC from institutional investment managers holding at least $100 million in equity assets. It offers the

05-23Ethereum

Coins.ph Expands QRPh Crypto Payments With BTC and ETH Support

Users may easily switch between fiat and digital assets within a single checkout process since stablecoins are at the heart of the system.By scanning the national QR code standard created by the BSP, the integration enables users to transact at an estimated 700,000 QRPh-enabled shops around the Philippines.　　Coins.ph announced the addition of Bitcoin (BTC) and Ethereum (ETH) to its QRPh cryptocurrency payment feature, expanding a system that currently allows customers to pay retailers throughout the country using stablecoins like USDT.　　By scanning the national QR code standard created by the Bangko Sentral ng Pilipinas (BSP), the integration enables users to transact at an estimated 700,000 QRPh-enabled shops around the Philippines. There is no need for manual pre-conversion since cryptocurrency balances are immediately converted into Philippine pesos at checkout.　　The deployment of QRPh-compatible cryptocurrency payments by Coins.ph earlier this year, which added USDT functionality to the countrys QR infrastructure, provided the foundation for this development. It was the first time a digital wallet in the Philippines allowed direct cryptocurrency payments using a national QR code architecture, incorporating stablecoins into a system previously utilized for regular transactions. The first launch resulted in a significant transaction volume driven by USDT payments.　　Users may easily switch between

05-23Ethereum

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