Latest Crypto News & Market Updates

Swiss Franc holds below 0.7800 amid higher US yields, risk-off markets

Finance　　Swiss Franc holds below 0.7800 amid higher US yields, risk-off markets　　The US Dollar (USD) maintains its immediate bullish trend against the Swiss Franc (CHF) intact for now, with the pair standing comfortably above 0.7800, after bouncing at lows near 0.7760 last week. A mild risk-averse sentiment amid growing tensions in the Middle East, and dwindling hopes of further Federal Reserve (Fed) rate cuts, are keeping the Greenback buoyed across the board on Wednesday.　　US Consumer Price Index (CPI) data released on Tuesday confirmed the inflationary pressures stemming from Irans conflict and practically discarded any further Fed interest rate cut in the foreseeable future.　　April‘s CPI showed 3.8% year-on-year rate, exceeding the 3.7% market consensus to reach its highest reading since May 2023. Likewise, the core CPI, excluding food and energy prices, rose to 2.8%, above the 2.7% expected and well beyond the Fed’s 2% rate. Futures markets are shifting their view of the Feds rate path towards monetary tightening, which is boosting US Treasury yields and underpinning speculative demand for the USD.　　Later on the day, April‘s Producer Prices Index is expected to follow suit, although the main focus will be on the meeting between US President Donald Trump and his Chinese Counterpart,

05-13Industry

SanDisk (SNDK) Stock Soars to Record High Before Retreat — Is This a Buying Opportunity?

SanDisk shares peaked at a 52-week high of $1,600 during trading on May 11, ultimately settling at $1,547.56. The semiconductor manufacturer had posted an impressive 552% year-to-date return entering Mondays session, establishing itself as the top performer within the S&P 500 index.　　However, Tuesday brought a different narrative.　　SNDK plummeted approximately 8% during early May 12 trading, reaching an intraday bottom of $1,402.27. The catalyst was a Facebook post from Kim Yong-beom, South Koreas presidential chief of staff, suggesting the country implement a specialized tax on AI companies to support a “national dividend” program.　　The proposal remains unofficial and lacks formal policy backing. Critics within South Korea have already condemned the concept as “dangerous and irresponsible.” Nevertheless, in an environment where SNDK commands elevated valuations following a 552% surge, the announcement provided sufficient reason for investors to lock in profits.　　The broader storage industry experienced similar pressure. Micron and Western Digital both declined more than 3%, while Seagate dropped over 1%. Major indices also retreated, with the S&P 500 falling 0.87%, the Dow sliding 0.56%, and the Nasdaq declining 1.51%.　　Core Business Performance Remains Strong　　Tuesday‘s selloff didn’t alter the fundamental narrative. SanDisks datacenter segment posted a remarkable 233% sequential revenue increase in Q3 fiscal 2026

05-13Industry

Jane Street slashes Bitcoin ETF holdings, adds Ether funds in Q1 2026

Wall Street market maker Jane Street reduced its exposure to Bitcoin exchange-traded funds (ETFs) in the first quarter of 2026 while increasing positions in Ether funds.　　Jane Street cut major Bitcoin ETF holdings in Q1 2026, including BlackRocks iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC), according to a 13F filing published Tuesday.　　IBIT holdings fell about 71% from Q4 2025 to roughly 5.9 million shares valued at about $225 million, while FBTC dropped about 60% to around 2 million shares worth roughly $115 million.　　At the same time, Jane Street increased its exposure to Ether ($ETH) ETFs, nearly doubling its position in BlackRocks iShares Ethereum Trust (ETHA) and sharply raising its stake in Fidelity Ethereum Fund (FETH), adding about $82 million combined across the two products over the quarter.　　The move comes amid early signs of institutional Ether ETF buying in early 2026, including increased exposure reported at Wells Fargo. The filing points to a reshuffling of Jane Street‘s reportable crypto-linked holdings at quarter-end, though 13F disclosures do not show the market maker’s full trading book or net exposure.　　Bitcoin exposure weakens further as Strategy stake falls　　Jane Street‘s Bitcoin-linked exposure weakened further in Q1 2026 as it reduced its stake in

05-13Exchange

How to Farm the Base Airdrop in 2026: A Step-by-Step Guide

What Is Base？　　Base is an Ethereum Layer 2 network incubated by Coinbase, built on Optimism‘s OP Stack and launched on mainnet in August 2023. The pitch: be the bridge between Coinbase’s traditional user base and decentralized finance. So far, it has worked. By May 2026, Base holds approximately $15 billion in total value locked, commands roughly 46.6% of all L2 DeFi TVL, and processes close to 15 million daily transactions. These are not speculative numbers. They come from on-chain data, and they put Base ahead of Arbitrum, zkSync, and every other rollup in active usage.　　The network offers sub-cent, sub-second transactions with Ethereum-level security, tightly integrated with Coinbases 110+ million verified users. That integration has produced real results. As shown in the Dune dashboard screenshots above, Base has recorded 6.36 billion cumulative transactions and 281 million total walletsas of early May 2026. The transaction count chart tells the story clearly: near-zero activity in mid-2023, steady growth through 2024, then a sharp climb to 15+ million daily transactions by late 2025. This is not a ghost chain inflated by bot farms.　　Why We Expect an Airdrop　　For most of Base‘s life, the honest answer was: we don’t. Coinbase was emphatic. Jesse Pollak, Bases creator,

05-13Exchange

Ethereum wants to end blind signing with new security feature

The Ethereum community has launched Clear Signing, an open standard that aims to replace unreadable transaction prompts with human-readable details before users approve onchain actions. Ethereum Clear Signing turns unreadable transaction data into plain summaries before users approve wallet actions.Ledger, Trezor, MetaMask, WalletConnect and Fireblocks are early supporters of the new ERC-7730 security standard.The rollout follows Bybits hack, where attackers abused signing screens to approve a malicious transfer.　　The Ethereum Foundation said a working group of wallet developers, security firms and its Trillion Dollar Security Initiative released the standard on May 12. The change targets self-custody users and institutions that need readable approval records.　　The effort targets blind signing, a weak point where users approve calldata or partial transaction data they cannot understand. The Foundation said approvals are often the last defense when users control assets onchain, but “When it is done blindly, that defense does not hold.” It wants “What You See Is What You Sign” to become the default for Ethereum users.　　ERC-7730 brings clearer transaction details　　Clear Signing uses ERC-7730, a shared JSON description format, a public registry, and independent reviews. The setup lets wallets show what a transaction intends to do without changing existing smart contracts or how transactions settle

05-13Ethereum

All about Ethereums latest test of a key supply zone after spike in Korea Premium Index

Ethereum　　All about Ethereums latest test of a key supply zone after spike in Korea Premium Index　　Ethereum may be approaching a decisive moment right now. The Korean Premium Index has spiked aggressively over the last 24 hours, signalling a noticeable surge in Asian regional demand. At the same time, the number of Ethereum 2 deposits has increased exponentially too, by 4 times – Evidence of a sharp rise in on-chain activity.　　Taken together, these metrics seemed to suggest something more coordinated – Participation may be picking up on both exchanges and across the network.　　Is there localized demand strength？　　The Korean Premium often acts as a sentiment gauge. When it rises, it typically means traders in that market are willing to pay more than global averages to gain exposure.　　A move to 0.66 isnt extreme, but the speed of the hike does stand out. It suggested that demand has been building quickly, rather than gradually. In previous cycles, similar spikes have sometimes preceded short-term breakouts but not always sustained ones.　　So while it leaned bullish at press time, it might not be a standalone signal. It will require further affirmation from other long-term metrics.　　Source: CryptoQuantDeposit surge adds a layer of uncertainty　　The fourfold increase in deposits complicates

05-13Ethereum

JPMorgan taps Ethereum and Solana to build an institutional cash stack

Ethereum　　JPMorgan taps Ethereum and Solana to build an institutional cash stack　　JPMorgan filed a prospectus on May 12 for the JPMorgan OnChain Liquidity-Token Money Market Fund, ticker JLTXX. The fund invests exclusively in US Treasury securities and overnight repo collateralized by Treasuries and cash, targeting a $1.00 net asset value.　　JPMorgan manages it to meet the eligible reserve asset requirements that stablecoin issuers may need under the GENIUS Act framework.　　The filing categorizes JLTXX as a regulated yield-bearing cash instrument designed to sit near the stablecoin reserve stack as a cash management tool for institutions, with neither the fund shares nor the token balances carrying a stablecoin classification.　　Ethereum is currently the only blockchain available to investors, though the filing anticipates expansion to other chains. Alongside Anchorage Digitals concurrent Solana reserve initiative, in which JPMorgan is exploring a tokenized instrument solution, that expansion note reveals an architecture that goes beyond a hedge.　　JPMorgan is assigning different blockchains to different jobs in the institutional cash system, with Ethereum taking fund-share and ownership workflows and Solana targeted for reserve movement and treasury operations.ItemDetailFund nameJPMorgan OnChain Liquidity-Token Money Market FundTickerJLTXXFiling dateMay 12PortfolioU.S. Treasury securities and overnight repo backed by Treasuries and cashNAV target$1.00Regulatory positioningManaged to meet eligible reserve-asset

05-13Ethereum

GitLab cuts jobs to invest in AI agents market opportunity

Tech　　GitLab cuts jobs to invest in AI agents market opportunity　　GitLab is laying off employees and restructuring its entire organization to chase the AI agents gold rush. CEO Bill Staples framed the move as a strategic reinvestment, channeling the savings from workforce reductions into what the company calls an “AI agents push.”　　The company is reorganizing its R&D division into 60 teams, flattening management layers, and cutting its operational footprint by 30%.　　What GitLab is actually doing　　GitLab plans to deploy AI agents internally to automate reviews, approvals, and other processes that currently require human judgment. The idea is that by dogfooding its own AI tools, GitLab can refine them before selling them to its customer base of software development teams.　　The bigger picture: AI as the justification for layoffs　　GitLab is far from the only tech company wielding AI as the rationale for workforce reductions. Amazons CEO has acknowledged that recent tech layoffs have been more about adapting company cultures and correcting post-pandemic bloat than about robots replacing humans.　　Experts note that current AI capabilities are most effective at automating repetitive, low-skilled tasks, while complex engineering work remains firmly in human territory for now.　　What this means for investors　　GitLab competes with GitHub, which has the backing of

05-13Industry

Japan Open Chain eyes B2B payments as EJPY plan takes shape

Japan Blockchain Foundation has announced plans to issue EJPY, a Japanese yen-pegged stablecoin, on Japan Open Chain and Ethereum. EJPY targets B2B settlements on Japan Open Chain, with Ethereum support planned from the start.EJPY launch terms and timing remain undecided pending regulatory reviews, trustee selection, and partner talks.JPYC, JPYSC, and bank pilots show Japans yen stablecoin market is becoming crowded fast now.　　The foundation operates the consortium behind Japan Open Chain, an Ethereum-compatible Layer 1 public blockchain run by Japanese enterprises.　　The group said EJPY is being prepared under a trust-type structure, with the foundation acting as settlor. It said talks with potential trustee businesses cover issuance, redemption, trust asset management, system needs, and legal compliance.　　Meanwhile, EJPY is being prepared first for Japan Open Chain. The foundation said the token could support B2B settlements, digital asset settlements, remittances, and Web3 payments. It also said EJPY is “expected to generate transactions based on real demand,” a forward-looking claim that still depends on partners, users, and approvals.　　Japan Open Chain is operated by 14 validators, including Dentsu, NTT Communications, G.U.Technologies, SBINFT, Pacific Meta, and Nethermind. The network says it plans to expand to 21 validators over time. Its native JOC Coin was listed on Zaif

05-13Industry

Baidus ERNIE 5.1 tops AI leaderboards, costs 94% less to train

Tech　　Baidus ERNIE 5.1 tops AI leaderboards, costs 94% less to train　　Baidu just did something that should make every AI lab reconsider its cloud computing budget. The companys ERNIE 5.1 model, launched on May 9, has climbed to fourth place globally on the Arena leaderboard and claimed the top spot among all Chinese AI models, with a score of 1,223.　　The kicker: it got there while spending just 6% of what competitors typically burn on pre-training.　　How Baidu pulled it off　　The secret, according to Baidu, is what the company calls a “parameter efficiency” leap. ERNIE 5.1 reduced its total parameters by two-thirds compared to ERNIE 5.0, while only activating half of the remaining total size during inference.　　The result has been independently validated as achieving flagship-level intelligence.　　The timing is notable. Sino-US tech competition has intensified substantially, with US export controls on advanced chips forcing Chinese AI labs to squeeze maximum performance from constrained hardware. ERNIE 5.1‘s cost efficiency isn’t just an engineering flex. It‘s a strategic response to a geopolitical reality where access to cutting-edge Nvidia GPUs isn’t guaranteed.　　The crypto angle: Ernie Chain and on-chain AI　　Baidu hasn‘t launched a token for ERNIE 5.1 itself. But the company’s blockchain initiative, Ernie Chain, has been live

05-13Industry

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