Latest Crypto News & Market Updates

South Korean Funeral Firm Loses $33 Million on BitMine Ethereum ETF

Daily leveraged products also lose value through volatility decay in choppy markets.　　A Regulatory Blind Spot in Prepaid Funeral Funds　　The episode has exposed how loosely South Korea polices prepaid funeral funds. The sector sits under the Fair Trade Commission as a prepaid installment business, not any financial regulator.　　The only binding rule requires firms to hold half of customer prepayments in reserve. The remaining half can be deployed in almost anything, including high-risk securities.　　“This should be illegal,” said analyst Bull Theory.　　A Korea Economic Daily review of 75 providers found 43% hold fewer assets than prepayments owed.　　Six bills now sit in the National Assembly to ban speculative investments and related-party lending in the sector.　　Bumo Sarang has not signaled any plan to unwind the position. Customer prepayments now hang on whatever BitMine and ether do next.　　The case strengthens calls in Seoul for tighter rules before the next funeral firm chases similar returns.　　The post South Korean Funeral Firm Loses $33 Million on BitMine Ethereum ETF appeared first on BeInCrypto.

05-21Ethereum

Morgan Stanley Files Amended S-1 For Ethereum & Solana ETF

Ethereum　　Morgan Stanley Files Amended S-1 For Ethereum & Solana ETF　　Morgan Stanley has submitted revised S-1 registration statements to the U.S. Securities and Exchange Commission for two proposed crypto ETFs. The Wall Street giant just amended its application for Ethereum and Solana ETFs.　　Morgan Stanley Submits Amended S-1 For Ethereum, Solana ETF　　The filings are for Morgan Stanleys Ethereum Trust and Solana Trust. In the modified filings, Morgan Stanley noted that the proposed ticker for the Ethereum ETF is MSSE. Meanwhile, the proposed ticker for the Solana product is MSOL. It aims to mirror its launch of a spot Bitcoin ETF in April.　　The two submissions were made on May 20. The documents describe the structure of the trusts and the creation and redemption of shares by means of authorized participants. The filings also contain language relating to staking that is associated with the underlying assets of the trusts.　　The trust will follow spot Ethereum price and use a share of the ETH that is held on the vehicle for staking, according to the Ethereum filing. According to the filing, the trust is not an active investment entity. Thus, it will not aim to earn a profit besides following the ETH price and the rewards

05-21Ethereum

Coins.ph expands Bitcoin and Ethereum payments in the Philippines

Bitcoin Ethereum　　Coins.ph expands Bitcoin and Ethereum payments in the Philippines　　Coins.ph, the leading crypto platform in the Philippines, has expanded its QR-code crypto payment network in the country, adding support for Bitcoin (BTC) and Ethereum (ETH).　　The update continues the trend set by the platforms earlier integration of Tether (USDT) and brings further payment variety to around 700,000 merchants.　　At the core of the update is, of course, QRPH, the countrys standardized QR payment system developed under the Bangko Sentral ng Pilipinas (BSP), which automatically converts crypto into Philippine pesos at the point of sale.　　Wei Zhou, CEO of Coins.ph, told Finbold.　　Stablecoin payments in the Philippines　　As mentioned, the latest expansion is another step in the companys plan to make stablecoin payments more viable in the Philippines.　　The initial launch of the system introduced USDT into the national QR infrastructure and recorded strong early transaction activity, as it helped make licensed Philippine wallets viable for direct crypto spending through unified national channels.　　Zhou added.　　For now, stablecoins remain central to the model, which is hardly surprising considering the market is shaped by large remittance inflows. More precisely, the Philippines receives roughly $38 billion annually in remittances.　　As a result, digital assets, such as USDT, are an increasingly popular option

05-21Ethereum

xAI Integrates Grok AI with OpenClaw Personal Assistant

xAI, Elon Musks generative AI venture, announced that Grok AI is now compatible with OpenClaw, an open-source, privacy-focused personal assistant. Starting May 22, 2026, users with SuperGrok or X Premium subscriptions can integrate Grok into OpenClaw, enabling new functionality across messaging platforms like WhatsApp, Telegram, Slack, and Discord.　　OpenClaw is designed to run on local hardware, from Mac Minis to Raspberry Pis, prioritizing user control and persistent memory across sessions. With Grok integration, users can leverage xAI‘s large language model (LLM) capabilities directly in OpenClaw, regardless of their subscription tier. This move potentially expands Grok’s reach beyond its existing platforms, which include X (formerly Twitter), Grok.com, and a standalone iOS app.　　Whats Driving the Integration？　　This integration aligns with xAIs broader strategy to embed AI into daily workflows while addressing increasing concerns about data privacy. Unlike traditional cloud-based AI assistants, OpenClaw emphasizes local-first architecture, offering users more control over their data. This could help xAI counter regulatory scrutiny, such as bans in Malaysia and Indonesia earlier this year over Groks controversial AI-generated images.　　The move also comes on the heels of a security breach earlier this month, where a Grok-linked crypto wallet lost 3 billion $DRB tokens in a prompt injection attack. By collaborating

05-21Industry

Goldman Sachs dumped over $1 billion in XRP, ETH & BTC

Bitcoin Ethereum　　Goldman Sachs dumped over $1 billion in XRP, ETH & BTC　　Goldman Sachs Group Inc. (NYSE: GS) trimmed its positions in Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) by more than $1 billion in the first quarter of 2026, but increased its exposure in Hyperliquid (HYPE).　　These findings are according to the banks Form 13F filing with the United States Securities and Exchange Commission (SEC), analyzed by Finbold on May 20. Notably, Goldman Sachs fully exited its XRP holdings of about $152 million, as Finbold explained.　　Goldman Sachs XRP holdings change. Source: SEC Filing　　The bank trimmed its Ethereum holdings by over $904 million, a 88% decline, between the fourth quarter of 2025 and the end of the first quarter of 2026. As such, Goldman Sachs reported around $117.6 million in ETH by the end of Q1 2026.　　Goldman Sachs ETH holdings change. Source: SEC Filing　　Similarly, the investment bank reduced its Bitcoin exposure to $716.2 million quarter over quarter, representing a contraction of approximately 33%.　　Goldman Sachs BTC holdings change. Source: SEC Filing　　The bank liquidated its Solana holdings in full during the first quarter, as Finbold reported. As such, the bank sold about $1.51 billion in crypto during the first three months of 2026.　　However,

05-21Ethereum

Coins.ph adds Bitcoin and Ethereum to Philippines QR payments

Coins.ph adds BTC and ETH payments to the Philippines QRPh system.Users can spend crypto at 700,000 QRPh-enabled merchants.Stablecoins remain key for remittances and daily crypto payments.　　Coins.ph has expanded its QRPh crypto payment functionality to support Bitcoin and Ethereum transactions, broadening the use of digital assets within the Philippines national QR payment infrastructure.　　The Manila-based crypto platform announced on May 19 that users can now pay merchants nationwide using Bitcoin (BTC) and Ethereum (ETH) through QRPh, the national QR code standard developed by the Bangko Sentral ng Pilipinas (BSP).　　The expansion builds on Coins.phs earlier rollout of QRPh-compatible stablecoin payments, which introduced support for USDT earlier this year.　　Under the system, crypto balances are automatically converted into Philippine pesos during checkout, allowing users to pay merchants directly without manually converting digital assets into local currency beforehand.　　Coins.ph estimates that the integration enables crypto payments across approximately 700,000 QRPh-enabled merchants throughout the country.　　The latest update broadens the range of cryptocurrencies supported within the Philippines existing QR payment ecosystem.　　QRPh serves as the national QR code standard designed to enable interoperable digital payments between financial institutions and merchants across the country.　　Earlier this year, Coins.ph became the first digital wallet provider in the Philippines to integrate direct crypto payments

05-21Ethereum

Zcash Foundation Patches 2 Critical Zebra Flaws, Reports $817K in Q1 Spending

Tech　　Zcash Foundation Patches 2 Critical Zebra Flaws, Reports $817K in Q1 Spending　　The report covers a three-month period that Executive Director Alex Bornstein called one of the most consequential in the Foundations history. The quarter opened amid governance upheaval at Electric Coin Company (ECC), where the entire development team resigned in early January following a dispute with Bootstrap, the nonprofit overseeing ECC.　　ZEC dropped sharply on the news, but the Zcash network continued processing blocks and settling transactions without interruption. The Foundation moved quickly to address the transition, publishing a statement reaffirming that no single organization controls the Zcash protocol.　　When ECCs DNS seeders stopped responding, ZF deployed replacement seeders in the United States and Europe within days. The Foundation also announced a native Rust DNS seeder built on the zebra-network crate, featuring per-IP rate limiting and integrated Prometheus metrics.　　On the regulatory front, the SEC notified the Foundation that it had closed its investigation, which began with a subpoena in August 2023, without recommending enforcement action. The resolution removes a significant legal question that had surrounded the privacy-focused project for nearly three years.　　The Foundations simplified balance sheet, unaudited and valued at end-of-quarter prices, showed total liquid assets of $36,701,379 against total liabilities of

05-21Industry

Consensys warns FDIC proposal could overextend GENIUS Act restrictions

Consensys has urged the Federal Deposit Insurance Corporation to revise parts of its proposed stablecoin framework, arguing that several provisions tied to the GENIUS Act could unintentionally restrict ordinary distribution models and access to decentralized finance tools.Consensys said parts of the FDICs proposed stablecoin rules could go beyond the intent of the GENIUS Act.The company argued that self-custodial wallet providers should not be treated as intermediaries when users access DeFi protocols independently.Consensys also warned that automatic penalties tied to reserve or redemption shortfalls could create risks for stablecoin holders during periods of stress.　　According to a filing released by the blockchain software company, the response forms part of a coordinated series of submissions to U.S. regulators that also included comments sent to the Office of the Comptroller of the Currency on May 1 and a separate Treasury Department submission covering state-level oversight frameworks.　　Consensys said the three filings together outline its position on how payment stablecoins should be regulated under the new federal framework expected to govern the sector over the coming decade.　　At issue are several provisions contained in the FDICs proposed rule implementing the GENIUS Act, the stablecoin law signed earlier this year that introduced reserve, redemption, custody, and capital standards

05-21Industry

‘One Hundred Years Of Solitude’ Part 2 Gets August Premiere Dates

Netflix/Mauricio González　　The highly anticipated conclusion to the first-ever screen adaptation of (), Gabriel García Márquezs iconic novel, will finally arrive in August.　　Netflix unveiled first-look images from the final chapter of the sweeping Colombian production, confirming Part 2 premieres on August 5. The streamer is not dropping all episodes at once. Instead, seven episodes will debut first, followed by the grand finale on August 26.　　The new images tease a darker and more emotionally charged Macondo as the Buendía family‘s story moves toward its inevitable end. Spanning generations marked by war, impossible love, political violence and tragedy, the second installment follows the town’s transformation from utopian dream into ruin.　　“Each episode of this second part is like a film,” shared Colombian director Laura Mora, whose vision, alongside co-director Carlos Moreno, guided much of the final installment. “We took the series to another level aesthetically, narratively, and through sound and music to build a much more cinematic and emotional ending.”　　Immersed for years in the world of Macondo, Mora explained that the team designed the final moments to match the scale of their long journey. “After living in that house and in that town for three years, we felt that closing this journey had to

05-21Industry

Microsoft Fox Tempest takedown targets certificate abuse

Tech　　Microsoft Fox Tempest takedown targets certificate abuse　　Microsofts Microsoft Fox Tempest takedown targeted a part of cybercrime that usually stays out of sight: the service layer that makes malware look trustworthy. By disrupting Fox Tempest, seizing infrastructure, and revoking more than 1,000 code-signing certificates, Microsoft moved against a system that allegedly helped hackers dress malicious files up as legitimate software.　　That mattered because victims were not just downloading obvious scam files. Instead, the operation allegedly made fake installers for familiar tools like Teams, AnyDesk, and Webex appear genuine enough to slip past security checks and antivirus protections. In at least one chain described by Microsoft, a bogus Teams installer delivered Oyster malware and later led to Rhysida ransomware.　　The case also shows how modern malware distribution increasingly depends on trusted cloud and signing services. Rather than building everything from scratch, attackers can abuse real platforms to gain credibility fast, then cycle through infrastructure before defenders catch up.　　Microsoft takes down Fox Tempests certificate-abuse service　　Microsoft said it disrupted the Fox Tempest cybercrime service and launched legal action against the people behind it. The operation centered on a malware-enabling service that allegedly provided digitally signed certificates to other threat actors.　　As part of the Microsoft Fox Tempest

05-21Industry

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