Latest Crypto News & Market Updates

Kraken Joins Exodus from LayerZero, Adopts Chainlink CCIP

Kraken has officially migrated its cross-chain infrastructure from LayerZero to Chainlink‘s Cross-Chain Interoperability Protocol (CCIP) following the $292 million Kelp DAO exploit in April 2026. The decision, announced on May 15, positions Chainlink as Kraken’s sole partner for securing wrapped tokens, including its Kraken Wrapped Bitcoin (kBTC).　　“Chainlink CCIP offers enterprise-grade infrastructure with strict security and risk management requirements,” Kraken stated. These include a secure-by-default design, 16 independent nodes, and native rate-limiting mechanisms—features that have become critical after the Kelp DAO attack exposed vulnerabilities in cross-chain protocols.　　LayerZero Fallout After the Kelp DAO Exploit　　The Kelp DAO breach on April 18, 2026, remains the largest DeFi exploit of the year. Attackers exploited a vulnerability in LayerZero‘s single Decentralized Verifier Network (DVN) setup to forge a cross-chain message, siphoning 116,500 rsETH worth approximately $292 million. LayerZero later attributed the hack to North Korea’s Lazarus Group but maintained the exploit was isolated to Kelp DAO‘s specific configuration. However, Kelp DAO countered that the vulnerability stemmed from LayerZero’s default settings.　　The incident triggered widespread concerns about the security of cross-chain bridges. Within 48 hours, total value locked (TVL) in DeFi dropped by $13 billion, highlighting the systemic risk posed by such exploits. More than $3 billion in

05-16Industry

Ethereum Nears Critical Breakout as $2.4K Wall Tightens

Ethereum still trades below its 200-day EMA near $2,572 and its 200-day moving average around $2,620. Traders often use those levels to measure broader market direction. Trading activity has also remained relatively moderate compared with the sharp liquidation seen during Februarys selloff. That suggests many investors still wait for clearer confirmation before making larger moves.　　Ethereums rising support trendline remains a key short-term level for traders. If buyers continue holding that support, ETH could make another attempt to break above resistance near $2,380. However, a move below the ascending structure could weaken the recent recovery and expose Ethereum to another pullback.　　Binance Flows and ETF Data Raise Caution　　Crypto analyst BorisD said recent Binance inflows suggest some traders may be selling into rallies rather than building long-term positions. He noted that Binance reserves increased from 3.360 million ETH on May 5 to 3.840 million ETH by May 10. However, Ethereum still failed to maintain a stronger breakout during that period.　　BorisD said the inflows likely reflected traders using short-term price rebounds to reduce exposure. He added that Ethereum could still see temporary upside moves, although broader downside risks remain in place for now.　　Meanwhile, Sosovalue data shows investors withdrew $5.65 million from U.S. spot Ethereum

05-16Ethereum

US-Based Law Firm Files New Motion Demanding Redistribution of $344M in USDt

Law firm Gerstein Harrow LLP filed a new motion on Thursday in a miscellaneous enforcement lawsuit, asking the court to compel stablecoin company Tether to hand over more than $344 million in frozen USDt linked to Iranian entities.　　The motion claims that the plaintiffs are owed more than $532 million in compensatory damages and more than $1.8 billion in punitive damages from acts of “terrorism committed or sponsored by Iran,” stretching back more than 25 years.　　The latest filing is part of a broader lawsuit against North Korea (DPRK) and Iran, attempting to claim and redistribute digital assets as compensation for victims of various and unrelated judgments tied to state-sponsored violence, drawing criticism from the crypto community.　　In May, the law firm filed a restraining notice against the Kelp decentralized autonomous organization (DAO), which manages the liquid staking platform, attempting to block the transfer of frozen Ether ( ETH) tied to the $293 million Kelp exploit in April.　　The law firms tactics have drawn condemnation from the crypto community, with critics arguing that distributing funds owed to hack victims to satisfy unrelated judgments stretching back decades delays repayment for hack victims, who have a greater claim to the funds.　　ZachXBT slams Gerstein Harrow for crypto

05-16Industry

Latest Inflation Report: What It Could Mean For Bitcoin, Ethereum, And Solana Ahead

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.　　Ronaldos journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.　　Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.　　One of Ronaldos defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.　　Ronaldo‘s commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others,

05-16Ethereum

Ethereum Price Lags Despite Record Staking Levels: What Are Investors Missing?

Sebastians journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.　　As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastians contributions quickly gained recognition, and he became a trusted voice in the online crypto community.　　To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.　　Sebastians passion for finance and writing is evident

05-16Industry

Monarq, Flare and Upshift Launch XRP Yield Vault Targeting 3% to 4% APY

Key highlights:Monarq, Flare and Upshift launched MXRPY, a managed XRP yield vault targeting approximately 3% to 4% APY.The vault uses FXRP on Flare and allocates capital across options, arbitrage, and onchain XRPFi strategies.MXRPY starts with a 500,000 FXRP deposit cap and weekly redemptions through Upshifts vault infrastructure.　　MXRPY brings managed yield strategies to XRP holders　　Monarq, Flare and Upshift have launched MXRPY, a managed multi-strategy XRP yield vault designed to give holders exposure to several return sources through one product. The vault is built on Flare and uses FXRP, the representation of XRP within the Flare ecosystem.　　The launch comes as XRP-focused DeFi continues to grow beyond simple lending and liquidity pools. As CoinCodex has previously covered in its XRP DeFi guide, native does not generate staking yield in the same way as proof-of-stake assets, which has pushed developers toward wrapped assets, AMMs, lending markets, and other DeFi structures.　　MXRPY is powered by Monarq Asset Management and runs on Upshifts institutional vault infrastructure. According to the companies, the vault currently targets roughly 3% to 4% APY, although realized returns will depend on market conditions, execution, and how capital is deployed over time.　　The vault begins with an initial 500,000 FXRP deposit cap. Users who deposit

05-16Industry

BTC Price Prediction: $85K Breakout or $76K Capitulation Within 10 Days

Bitcoin is trading in no-man‘s land at $80,599, caught between conviction and confusion. The RSI at 57.82 shows buyers aren’t panicking, but they‘re not exactly rushing in either. Meanwhile, the MACD histogram sitting at zero tells the real story – momentum has completely stalled out. This isn’t the setup of a market ready to rip higher or crash lower; its the setup of a market waiting for a catalyst.　　The Bollinger Band position at 0.66 puts Bitcoin in the upper portion of its recent range, suggesting some underlying strength despite the lackluster momentum. Trading above the 20-day SMA ($79,426) while sitting below the 200-day SMA ($81,963) creates a technical sandwich that professional traders recognize as decision time. Blockchain.news analysis of similar setups historically shows resolution within 5-10 trading sessions.　　Volume & Price Alignment　　The $1.67 billion in daily spot volume tells a story of institutional hesitation rather than retail panic. This isn‘t the volume profile of a market preparing to dump – it’s the volume of smart money positioning for the next move. The tight trading range between $79,230 and $82,048 over the past 24 hours screams consolidation, not distribution.　　Professional traders know that when Bitcoin trades in a $2,800 range with decent volume,

05-16Industry

UAE Fast-Tracks Second Oil Pipeline to Bypass Strait of Hormuz

UAE to complete a second oil pipeline by 2027, bypassing the Strait of Hormuz, doubling its capacity to 3.6M bpd.This stems from an ongoing 11-week Strait of Hormuz blockade and comes weeks after the UAE exited OPEC.This will allow a huge export flexibility outside the chokepoint amid tensions over production policies.　　The United Arab Emirates (UAE) is fast-tracking a major oil pipeline to Fujairah, aiming to bypass the Strait of Hormuz by 2027 and double its export capacity from 1.8 million barrels per day (bpd) to approximately 3.6 million barrels per day.　　The move, driven by an ongoing 11-week Strait of Hormuz blockade, is designed to secure crude exports, stabilize global energy flows, and reinforce the UAEs position as a resilient and independent oil exporter.　　UAE to Complete a Second Major Oil Pipeline by 2027　　On May 15, 2026, according to sources, the United Arab Emirates (UAE) is fast-tracking a major oil pipeline to bypass the Strait of Hormuz by 2027 and double its export capacity from 1.8M bpd to approximately 3.6M bpd.　　Notably, Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has directed state oil company ADNOC to accelerate the previously undisclosed project. The new pipeline will run parallel to

05-16Industry

Hyperliquid price outlook as Bitwise launches spot HYPE ETF

Hyperliquid price remained volatile this week after rebounding sharply from a recent pullback, while growing institutional involvement and the launch of new spot exchange-traded products strengthened bullish sentiment surrounding the decentralized trading protocol.　　According to data from crypto.news, Hyperliquid ($HYPE) price was trading around $44 at press time on May 15 after briefly surging above the $46 region earlier in the session. The token has recovered significantly from its January lows near $22 as demand surrounding decentralized perpetual trading infrastructure continued rising.　　One of the biggest catalysts supporting Hyperliquid this week was the launch of the new spot Hyperliquid ETF from Bitwise Asset Management.　　The Bitwise Hyperliquid ETF officially begins trading on Friday and is among the first U.S.-listed spot $HYPE investment products. The fund also incorporates native staking through Bitwise Onchain Solutions, allowing investors to gain both spot exposure and staking-related yield.　　The launch highlights the accelerating institutional race to offer regulated exposure to decentralized finance infrastructure beyond Bitcoin and Ethereum.　　Competition within the emerging Hyperliquid ETF market has also intensified rapidly. Earlier this month, 21Shares launched two $HYPE-linked ETFs in the United States, including the spot-focused THYP product and the leveraged 2x Long $HYPE ETF trading under the ticker TXXH.　　The growing number of

05-16Exchange

Blackrock Drives Bitcoin ETF Recovery as Trading Volume Surges to $2.76B

Mixed trading week for with two days each of inflows and outflows.　　The inflows were partially offset by continued selling in several funds. Grayscale‘s GBTC led the outflows with a $31.64 million exit, while Franklin’s EZBC, Ark & 21Shares‘ ARKB, and Invesco’s BTCO also ended the session lower.　　Trading activity surged as investor participation picked up. Total value traded across reached $2.76 billion, while total net assets climbed to $107.75 billion.　　Ether ETFs continued to struggle, though the pace of withdrawals slowed considerably. The category posted net outflows of $5.65 million, extending its losing streak to four straight sessions.　　Blackrock‘s ETHA remained the largest drag with a $13.21 million exit, while Blackrock’s ETHB lost another $3.55 million. There were signs of selective buying beneath the surface. Fidelity‘s Ether product attracted $6.88 million, while Vaneck’s ETHV and Franklins EZET added smaller inflows.　　Even so, the gains were not enough to fully reverse the broader weakness. across ether ETFs reached $600.91 million, with net assets ending at $13.45 billion.　　XRP ETFs resumed their upward momentum with $18.25 million in net inflows. Bitwise‘s XRP fund led the category with $7.01 million, followed closely by Franklin’s XRPZ at $6.64 million and Canarys XRPC at $4.87 million.　　The steady demand suggests investor

05-16Industry

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