Latest Crypto News & Market Updates

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

Brent Crude Rises On Supply Risks, Says Commerzbank

Tech　　Brent Crude Rises On Supply Risks, Says Commerzbank　　Analysts at Commerzbank have noted that Brent crude oil prices are currently being supported by heightened supply risks, according to a recent market commentary. The assessment points to a combination of geopolitical tensions and production uncertainties that are contributing to upward pressure on the benchmark.　　Factors Behind the Supply Risk Assessment　　Commerzbank‘s analysis focuses on several key factors that are tightening the global oil supply outlook. These include ongoing disruptions in key producing regions, potential sanctions impacts, and voluntary production cuts by major exporters. The bank’s commodities research team emphasizes that while demand-side concerns remain, the immediate price driver is the supply side.　　The assessment comes amid a period of relative volatility in energy markets, where traders are weighing the risk of supply shortfalls against a global economic backdrop that could dampen consumption. Commerzbanks view aligns with a broader market sentiment that the balance of risks is tilted toward higher prices in the near term.　　Implications for the Energy Market　　The supply risk premium is not a new phenomenon, but its current prominence reflects specific events. Recent geopolitical developments have raised the possibility of further disruptions to crude flows from the Middle East and other key export routes.

05-13Industry

Bank of Montreal sells truck and trailer financing business to Stonepeak for C$14.5B

Tech　　Bank of Montreal sells truck and trailer financing business to Stonepeak for C$14.5B　　The Bank of Montreal is parting ways with its truck, trailer, and equipment financing business in a C$14.5 billion cash deal with Stonepeak, the New York-based infrastructure investment firm. BMO announced the sale on May 11, 2026, from both New York and Toronto. The deal covers BMOs Transportation Finance and Vendor Finance businesses. BMO will retain a 19.9% minority stake post-close.　　The transaction is structured as an all-cash acquisition at approximately C$14.5 billion. Financing for the acquisition is being led by PGIM, the investment management arm of Prudential Financial, which is handling the asset-based financing component. Bank of America is serving as the lead arranger on the deal. The deal is expected to close in the fourth quarter of 2026, pending regulatory approvals. BMO is the eighth-largest bank in North America by assets.　　Stonepeak manages over $58 billion in assets under management as of early 2026 and has been expanding its portfolio in the infrastructure sector.　　By selling these units for C$14.5 billion in cash, BMO frees up capital that can be redeployed into higher-priority areas. The retained 19.9% stake is structured just below the 20% threshold that would typically require

05-13Industry

Tether’s Paolo Ardoino Makes Case for Small On-Device Translation Models

Tether CEO Paolo Ardoino has turned the spotlight on a very different corner of artificial intelligence: translation that happens entirely on-device, without sending sensitive text to the cloud.　　In a recent post, Ardoino framed the issue around privacy, speed, and practicality. His point was simple enough, but it touches a problem that millions of users encounter every day. When someone translates a medical note, a private message, a legal contract, or even a personal journal entry through a cloud service, that text leaves the device and enters someone elses infrastructure.　　In many cases, users do not fully know where the data goes, how long it is retained, or who may be able to access it. Ardoino argued that this is not just a theoretical concern, but a real one, especially in use cases where confidentiality matters.　　According to Ardoino, the answer is not to rely on larger and larger general-purpose AI models. Instead, he argued that translation is one of those jobs where small, dedicated models can beat “Goliath.”　　In his view, if the task is translating one language into another, there is no need to use a massive model that can also write poems, summarize articles, and perform a dozen unrelated tasks. For

05-13Industry

Pi Network comeback stalls as KYC update meets weak PI price

Pi Network has returned to market attention after its team shared a new Know Your Customer update. PI reclaimed top-50 attention as KYC progress met weak price action and fresh supply concerns.Over 18.1 million users passed KYC, but tentative checks still keep some Mainnet migrations pending.Crypto.news data shows PI near $0.17, with weekly losses still keeping traders cautious for now.　　The project said more than 18.1 million users have passed native KYC checks, while over 16.7 million Pioneers have moved to Mainnet. The update gives the network a new user-growth figure at a time when PI is trying to recover from recent price weakness.　　The team has often linked KYC to its “one person, one account” model. The goal is to limit bots, fake users, and duplicate accounts before balances move to Mainnet. That system remains central to Pi Networks pitch as a large identity-verified blockchain community.　　Tentative KYC keeps user concerns alive　　The latest update also addressed users stuck in Tentative KYC. The team said this status “does not mean rejection”, but means some accounts need more checks before approval. That claim may ease some concerns, but it does not remove the long wait faced by users who say they have remained in

05-13Industry

MoonPay acquires Dawn Labs to enhance AI trading capabilities

Tech　　MoonPay acquires Dawn Labs to enhance AI trading capabilities　　MoonPay just bought an AI research lab and immediately shipped a product that lets you type a trading strategy in plain English and have it execute autonomously.　　The acquisition of Dawn Labs, announced on May 11, brings applied AI research directly into MoonPays infrastructure. Dawn Labs founder Neeraj Prasad is joining as Chief Engineer of MoonPay Labs.　　What Dawn CLI actually does　　The centerpiece product launching alongside the acquisition is Dawn CLI, a tool that converts natural language trading instructions into live, automated trades. You describe what you want to do in a sentence, and the system handles the research, writes the code, and executes the strategy for you.　　The pipeline works in four stages. First, a user inputs a trading idea in plain text. Then the system conducts automated research on the relevant market conditions. From there, it generates the trading code. Finally, it handles live execution.　　The initial launch targets Polymarket, the prediction market built on the Polygon blockchain. MoonPay is positioning this squarely at users who lack programming skills or deep quantitative expertise.　　Plans are already in place to expand beyond Polymarket to additional exchanges and asset classes, though no specific timelines or platform names

05-13Industry

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

WTI Price Forecast: Struggles to reclaim $100, outlook remains firm

WTI US Oil declines to near $97.20 during the day. However, the near-term bias stays constructive as price holds above the 20-day exponential moving average (EMA) at roughly $95.80, suggesting the recent pullback remains a correction within an uptrend.　　The Relative Strength Index (RSI) around 53 keeps a neutral-to-positive tone, hinting that upside momentum is still intact but not overstretched.　　On the downside, immediate support aligns with the 20-day EMA at $95.80, where a break would expose a deeper retracement toward $90. As long as buyers defend this moving average on closing bases, the broader recovery bias is likely to persist, leaving scope for fresh attempts toward the recent highs around the $100 handle, followed by the April 30 high of $107.35.

05-13Industry

MARA Holdings (MARA) Stock Plunges 5% Following $1.5B Bitcoin Liquidation

Marathon Digital Holdings, Inc., MARA　　The equity reached an intraday bottom of $11.74 immediately after the earnings announcement before staging a modest rebound. Extended trading saw an additional 1.86% decline.　　First-quarter revenue totaled $174.6 million, representing an 18% year-over-year decrease. The net deficit of $1.26 billion more than doubled the $533 million shortfall recorded during the equivalent period last year. Bitcoins valuation declined approximately 22% throughout the quarter, significantly impacting financial performance.　　Despite Tuesdays setback, MARA shares have appreciated roughly 32% over the trailing 30-day period.　　Major Bitcoin Liquidation Details　　MARA divested 20,880 BTC at a mean price of $70,137 per token during Q1, realizing approximately $1.5 billion in total proceeds. The majority of these transactions—15,133 BTC generating about $1.1 billion—occurred between March 4 and March 25.　　These funds were strategically allocated to repurchase the companys convertible notes, reducing convertible obligations from approximately $3.3 billion to $2.3 billion, representing a 30% contraction. This debt restructuring produced a $71 million accounting gain.　　Following these dispositions, MARA fell from second to fourth position among publicly listed Bitcoin holders. The company maintains 35,303 BTC in treasury, currently valued at approximately $2.84 billion.　　Strategic Transformation Toward AI Infrastructure　　MARA is executing a fundamental business model transformation, rebranding itself as “a digital infrastructure company

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

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