Latest Crypto News & Market Updates

Coinbase expands branded stablecoin infrastructure business with Flipcash USDF launch

Coinbase launched $USDF with Flipcash, a Solana-based stablecoin backed 1:1 by Circles USD Coin, as the crypto exchange expands its infrastructure business for companies issuing branded digital currencies.　　According to Wednesdays announcement, $USDF is designed to serve as the settlement asset for currencies created on Flipcash, a platform where users can launch fixed-supply digital currencies priced and transacted in the stablecoin. Flipcash said the token is intended to function as the primary dollar asset within its app.　　In December, Coinbase launched its white-label stablecoin issuance service for companies seeking branded digital dollar products without managing their own reserve, custody or settlement infrastructure. The platform includes fiat onramps, wallet services and $USDC ($USDC) reserve backing. It previously identified Solflare, R2 and Flipcash among companies exploring launches using the system.　　Flipcash said it selected Coinbases platform because it provided $USDC-backed reserves, onchain settlement infrastructure and integrated fiat access through a single service.　　According to DefiLlama data, $USDC is the worlds second-largest stablecoin by market capitalization, with roughly $77 billion in circulation.　　Source: DefiLlama　　Related: Trump filing discloses Coinbase, Strategy crypto-linked exposure in Q1　　Stablecoin infrastructure providers expand white-label issuance services　　The launch comes as stablecoin issuers and crypto infrastructure providers increasingly offer white-label services that allow businesses to launch branded

05-21Exchange

HYPE breaks $50 barrier on rising appetite for on-chain markets

Hyperliquids token $HYPE climbed above $50 for the first time since October 2025. The asset erased all losses, signaling the growing importance of Hyperliquid in the crypto ecosystem.　　$HYPE broke out in the past week, extending its gains above $45. The $50 range was closely watched, as the asset found support based on active Hyperliquid usage.　　$HYPE traded at $50.62, up by 4.7% in the past day. The rally accelerated during US open hours, as $HYPE established itself as one of the days trending tokens. Over 71% of whales on Hyperliquid are long on $HYPE, though one whale has built a $75M short position.　　For the past week, $HYPE rose by over 29%, and is up by over 80% for the past 90 days. The token is in the top 15 of the most active crypto assets, though it stands out for stronger fundamentals, rather than short-term hype.　　$HYPE may rise as high as $52 in a short squeeze move, or drop to the $46 range to liquidate the accumulated long positions. $HYPE open interest is at a six-month peak of $1.95B, of which $1.2B is on the Hyperliquid platform, securing concentrated liquidity and potential momentum.　　Why is $HYPE rising？　　$HYPE has gained multiple sources of

05-21Exchange

Kraken and Coinbase User Loses $6.7M in Crypto Theft as Funds Move Through Tornado Cash

A crypto user has lost around $6.7 million in digital assets after attackers drained funds from accounts linked to both Kraken and Coinbase.　　The incident, highlighted by Wu Blockchain, showed large withdrawals of $ETH, $BTC, and cbBTC from the victims exchange accounts.　　Key PointsA Kraken and Coinbase user lost $6.7M after hackers drained $ETH, $BTC, and cbBTC from exchange accounts.On-chain analyst Specter tracked the stolen assets to wallets linked to fast-moving laundering transactions.Attackers allegedly moved about $5.3M through Tornado Cash shortly after the theft.The incident adds to growing concerns over phishing, malware, and targeted attacks on crypto holders.　　Millions Drained From Kraken and Coinbase Accounts　　According to Specter, the victims Kraken account saw withdrawals totaling 1,554 $ETH worth about $3.3 million, alongside 10.5 $BTC. At the same time, attackers withdrew 34.1 cbBTC worth roughly $2.6 million from Coinbase.　　The stolen funds were traced to the following wallet addresses:Ethereum address: 0xd…79982ABitcoin address: bc1…6nqv3　　Initial reports suggested the theft may have resulted from a physical attack targeting the account holder. However, Specter later updated the assessment, stating the incident likely did not involve physical coercion.　　$5.3 Million Allegedly Laundered Through Tornado Cash　　Blockchain analysis showed that the attackers quickly moved a significant portion of the stolen assets through Tornado Cash,

05-21Exchange

Fairshake PACs $20M backing pays off in three US state primaries

Political action committees (PACs) aligned with and funded by the cryptocurrency industry notched a series of wins in three US state primaries on Tuesday, potentially setting a precedent for the 2026 midterm elections.　　The Fairshake PAC and its affiliates poured a combined $20 million into supportive media for the races. The committee, largely funded by crypto companies Ripple Labs and Coinbase, is behind the Defend American Jobs PAC in supporting Republican candidates and Protect Progress PAC for Democrats considered to be “pro-crypto.”　　Four Republican candidates and one Democrat won their respective primaries for US Senate and House of Representatives seats in Georgia and Kentucky, while one Alabama Republican will go to a runoff election.　　“Fairshakes 6-0 sweep tonight was a clear victory for pro-crypto leaders across the country,” Fairshake spokesperson Geoff Vetter told Cointelegraph. He said:　　“This powerful bipartisan mandate is being heard across America from Georgia to Alabama to Kentucky.”　　According to Federal Election Commission filings, Protect Progress spent more than $4.2 million to support Jasmine Clark, a Georgia representative running in the state‘s 13th Congressional district. Defend American Jobs reported similar expenditures for media to support Republican candidates: $455,000 for Clay Fuller in Georgia’s 14th district, $709,000 for Houston Gaines in Georgia‘s 10th

05-21Exchange

500 Dormant Bitcoin Move After 12 Years as Early Investors React to Post-Quantum Risks

Analyst CryptoQuant Maartunn detected a major on-chain transaction in which 500 $BTC, which had remained completely dormant for more than 10 years, were moved to a new address for the first time. On the Spent Output Age Bands chart for 10-year-old Bitcoin, this activity appeared as an isolated green spike.　　The transfer of such an old wallet coincided with the release of major research and news in the quantum technology sector, namely Glassnodes report on Bitcoins quantum security. According to analysts, 30.2% (6.04 million $BTC) of the total market supply is already potentially vulnerable to future quantum attacks.　　500 $BTC that hadnt moved in 10 years just moved.　　Is the quantum threat forcing whales to act？　　The vulnerability is tied to exposed public keys on addresses from the Satoshi Nakamoto era and poor wallet hygiene, including address reuse and custodial storage practices. A quantum computer could hypothetically derive a private key only where the public key has already been exposed on-chain.　　Exchanges account for around 1.66 million $BTC within this risk category. Approximately 5% of Coinbase-held $BTC is considered vulnerable, compared to around 85% for Binance and nearly 100% for Bitfinex.　　Operationally Unsafe Bitcoin by Entity, Source: Glassnode　　At the same time, the computing industry is demonstrating

05-21Exchange

Nearly 10% of Bitcoin supply is ‘structurally unsafe’ from quantum breakthrough: Glassnode

Nearly 10% of the total Bitcoin supply is considered “structurally unsafe” due to a quantum computing breakthrough, as their output type reveals the public key by design, regardless of address management practices, according to data analytics platform Glassnode.　　Totaling about 1.92 million Bitcoin ($BTC), the group includes $BTC from early Satoshi-era Pay-to-Public-Key (P2PK) outputs, legacy multi-sig structures such as Pay-to-Multisig (P2MS) and modern Pay-to-Taproot (P2TR) outputs, which reveal the public key or public key-equivalent by design, wrote Glassnode in a Wednesday X post.　　Bitcoin creator Satoshi Nakamotos coins represent about 1.1 million or 5.5% of the vulnerable supply, following another 620,000 Satoshi-era coins or 3.1% of the supply and about 200,000 coins or 1% of the supply in Taproot addresses.　　Choosing how to implement PQC [post-quantum cryptography] and deploy it on-chain should remain decoupled from the question of what to do about coins that remain quantum vulnerable. Yet the two matters often are conflated, the controversy around the latter often clouding discussions of the former - ARK Invest　　The findings underscore the need to implement a quantum-proof path for Bitcoin, such as the adoption of BIP-360s proposed Pay-to-Merkle-Root (P2MR) output type, which seeks to remove Taproots quantum-vulnerable key path spend, though it does not

05-21Exchange

Algorand price forecast: is ALGO’s Robinhood rally a bounce or reversal?

Algorand (ALGO) jumped 5% after Robinhood listed it for US users.Algorands price has stayed between $0.1092 and $0.1173 with no breakout.Weekly trend is still down 6.8% despite the short-term rally.　　Algorand has recorded a sharp burst of activity following its addition to Robinhoods crypto trading platform, including availability for users in New York.　　At the time of writing, Algorands ALGO coin was trading near $0.1149, showing a 24-hour gain of about 5%.　　Robinhood listing triggers short-term momentum　　The listing on Robinhood marks a notable distribution shift for Algorand.　　The listing on Robinhood gives access to a large base of retail users, and historically, new listings on major retail brokerages tend to attract immediate trading interest.　　In this case, the move was preceded by a wave of market commentary highlighting the possibility of Robinhood adding ALGO.　　During that period, Algorand recorded intraday gains in the range of 5% to over 7%, depending on the timeframe used across different market trackers.　　Once the listing was confirmed, trading activity increased further, with daily volume reaching approximately $58.9 million according to data from Coingecko.　　This spike in activity coincided with heightened attention from retail traders reacting to the expanded accessibility of the token.　　Price structure still shows resistance to a sustained breakout　　Even with the

05-21Industry

Ethereum Price Prediction: ETH Holds $2,100 as Whales Exit

Ethereum is holding the lower edge of its green Gaussian Channel, keeping the short-term bounce setup alive near $2,100. However, whale count data shows large ETH holders have been leaving or consolidating positions, putting the $2,000 support level back in focus.　　Ethereum Price Backtests Green Gaussian Channel as $2,100 Support Holds　　Ethereum is backtesting the green Gaussian Channel on the daily Bitstamp chart shared by Sky on X, with price holding near the lower channel area for several sessions.　　The ETH/USD chart shows Ethereum trading near $2,110 after pulling back from the recent range near $2,370. The latest candles sit close to the lower edge of the green Gaussian Channel, where the analyst marked a possible support reaction.　　ETH/USD Daily Gaussian Channel Chart. Source:　　The channel had already flipped from purple to green. That matters because the previous purple phase showed weaker trend conditions, while the green phase points to a possible recovery setup.　　However, ETH still needs to hold the current support area. The chart shows the lower channel band near $2,102, while price remains only slightly above it.　　A daily close below this zone would weaken the backtest and could bring the lower range near $2,025 back into focus.　　If Ethereum holds the channel, the first

05-21Industry

More car buyers are shifting to EVs — but the reasons why are nuanced

Customers are continuing to shift to electric vehicles, but industry analysts say the picture is complicated.　　A rising share of car buyers traded their gas cars in for EVs in April, according to data Edmunds shared with CNBC. In January, 67.1% of buyers purchasing a new EV at dealerships traded in a gas car. By April, that climbed 7%, to 72.1%, according to the auto site.　　The data also showed that EV loyalty numbers are rising: In January, 26.2% of buyers traded in an older EV for a new EV and 34.3% traded for a used one. Those numbers rose, as of April 26, to 35.4% and 44.5%, respectively.　　These data points indicate EV interest is growing, despite the loss of federal and some state incentives that encouraged consumers to purchase the vehicles, and a pivot among many automakers back to internal combustion and hybrid vehicles.　　Analysts and industry insiders have cited rising fuel prices as a possible factor motivating these decisions. The national average gas prices has risen roughly 44% from the same period a year ago, according to AAA.　　Edmunds Senior Director of Insights Ivan Drury said its still a bit too early to tell if this is a strong, lasting shift.　　Oil and

05-21Industry

Polymarket wallets made $2.4M on Iran bets – Was insider trading involved?

Suspicion surrounding geopolitical prediction markets increasingly intensified after nine connected Polymarket wallets reportedly generated over $2.4 million from Iran war betting activity.　　Investigators already linked the cluster to more than 80 highly accurate positions with reported win rates near 98%.　　Source: X　　Those accounts allegedly predicted the exact timing of U.S. strikes, leadership developments, and eventual ceasefire announcements before broader public confirmation emerged.　　Bubblemaps Co-Founder and CEO Nicolas Vaiman later stated that statistical probability alone could not reasonably explain the trading precision behind those positions.　　Scrutiny also strengthened after authorities indicted a U.S. Army soldier last month for allegedly using classified intelligence to earn over $400,000 through Polymarket activity. Meanwhile, prediction market volume on military outcomes surpassed $1 billion during 2026.　　That progression increasingly exposed insider-information risks across anonymous geopolitical betting markets.　　Political betting rapidly reshapes prediction markets　　As insider-trading concerns increasingly spread across prediction markets, speculative capital also continued accelerating into geopolitical and regulatory event trading.　　TRM Labs data already showed monthly prediction market volume expanding from roughly $1.2 billion during early 2025 toward nearly $20 billion by early 2026.　　Source: TRM Labs　　That momentum strengthened further once traders increasingly treated military developments, political shifts, and crypto legislation like tradable financial assets.　　Polymarket users also currently assign nearly 64% odds for

05-21Industry

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