Latest Crypto News & Market Updates

Groq lines up $650m for ‘neocloud’ spin-out after $20b Nvidia deal

Groq is raising up to $650 million from existing investors to fund a new “Groq2” entity, just months after inking a $20 billion licensing and asset deal with Nvidia that effectively rewired the AI chipmakers future.Groq seeks up to $650m to build AI “neoclouds” after Nvidia tie-up.Nvidia‘s $20b Groq agreement leaves cloud business and IP in Groq’s hands.New Groq2 unit will pivot away from chip manufacturing toward AI infrastructure services.　　Groq Inc. is raising as much as $650 million from its current backers to capitalize a new company that will focus on building AI “neoclouds,” following a landmark $20 billion licensing agreement under which Nvidia agreed to acquire Groqs inference technology assets and hire much of its senior leadership. According to Axios, existing investors, including Disruptive and Infinitum, are prepared to cover the entire $650 million round if necessary, with participation offered pro rata to current shareholders in the successor Groq2 vehicle.　　Source: Groq is raising ~$650M from existing investors; the AI chipmaker earlier signed a $20B Nvidia licensing deal that saw much of its senior team depart (@danprimack / Axios)　　(Visit Techmeme dot com for the link and full context!)　　— Techmeme (@Techmeme) May 28, 2026　　The fundraising comes on the heels of Nvidia‘s

05-29Industry

Kalshi sues Minnesota over prediction ban

Kalshi has sued Minnesota to block the states prediction market ban set to take effect on August 1.Kalshi filed a federal lawsuit against Minnesota over its new prediction market ban law.The company argues the Commodity Exchange Act gives the CFTC exclusive jurisdiction over event contracts.Minnesotas law would make operating a prediction market a felony from August 1.　　Kalshi has filed a federal lawsuit against Minnesota to block the states new prediction market ban. The law would make running an event contract platform in the state a felony from August 1.　　The suit escalates a national fight over who regulates event contracts. Kalshis complaint, filed in federal court and documented by Courthouse News, names Attorney General Keith Ellison, Governor Tim Walz and Alcohol and Gambling Enforcement Director Jon Anglin as defendants.　　What Minnesotas law does　　Governor Walz signed SF 3432 into law on May 26, repealing and replacing earlier prediction market provisions in SF 4760 and folding the new measure into the states broader public safety package. The law bans operating any market offering certain event contracts.　　Kalshi argues the Commodity Exchange Act gives the CFTC “exclusive jurisdiction” over event contracts, and that Minnesotas statute “impermissibly usurps” that authority by banning federally designated contract market activity.

05-29Industry

Can XRP Set New ATH in 2026? Prediction Market Weighs in

Tech　　Can XRP Set New ATH in 2026？ Prediction Market Weighs in　　It is five months into 2026 and the question in the XRP community is whether its price could reach a record high this year. XRP rose to a high of $3.66 last July before it fell.　　2026 began on a positive note with XRP hitting a high of $2.41 in its first week. However, the rise was short-lived as XRP declined and subsequently entered sideways trading.　　As uncertainty remains in the market, prediction markets are beginning to put a number on one of the biggest questions for XRP, which is whether it can reach an all-time high in 2026.　　XRP Enters Bearish Continuation via Kibar Outlook, Cash App Opens Wallet-Free USDC to 59 Million Users, Cardano Whales Hit 67% Supply Record Amid Split – Morning Crypto Report　　BlackRocks IBIT Hits Largest Outflow Ever　　18.1% chance of XRP setting a new high　　According to live data from XRP-powered prediction market, Axiom Protocol, traders are predicting an 18.1% chance that XRP will set a new all-time high in 2026.　　The figure is a cautious one, indicating that while a breakout is possible, most of the respondents do not see it by any means as a sure thing.　　You Might Also

05-29Industry

Digital Chamber rallies Senate on CLARITY Act

The Digital Chamber is leading a coalition of crypto firms pressing the Senate to pass the CLARITY Act.The Digital Chamber is leading more than 100 crypto firms urging Senate passage of the CLARITY Act.The coalition wants action before the Senates summer recess to lock in regulatory clarity.The Senate Banking Committee already advanced the bill in a bipartisan 15-9 vote on May 14.　　The Digital Chamber has escalated a coalition push urging the US Senate to pass the CLARITY Act. The trade group is framing the bill as cryptos last realistic window for federal market structure rules this year.　　The pressure follows a key procedural win. The Senate Banking Committee already advanced H.R. 3633, the Digital Asset Market Clarity Act, in a 15-9 bipartisan vote, sending it toward a full Senate floor fight.　　What the Digital Chamber is asking for　　The Digital Chamber, the Crypto Council for Innovation and the Blockchain Association are running parallel lobbying tracks aimed at swing-vote senators in the Banking Committee and the wider Democratic caucus. Bipartisan support is treated as a hard prerequisite for the 60-vote floor threshold.　　The coalitions April letter to Senate Banking flagged what the industry calls Operation Choke Point 2.0, an informal pressure campaign by federal regulators

05-29Industry

Ethereum Falls Below $2,000 as Retail Rushes to Buy the Dip

Santiments analysis flagged this as a warning signal rather than a bullish one. The crowd is almost always wrong at turning points, and crowd optimism at price lows historically means the bottom has not yet arrived.　　What Smart Money Is Doing　　While retail celebrates the dip, larger players are moving in both directions.　　Three newly created wallets, possibly belonging to the same whale, withdrew 4,303 ETH worth approximately $8.67 million from Kraken. The withdrawal suggests at least one large holder is moving assets to self-custody rather than selling, a typically bullish signal.　　On the other side, a Matrixport-linked whale holding a 120,000 ETH long position worth $237 million is now sitting on $33.86 million in unrealised losses. Rather than cutting the ETH position, this whale opened a new account, deposited $5 million in USDC, and initiated a 20x leveraged long on 500 Bitcoin worth $36.5 million.　　The CLARITY Act Argument for Ethereum　　Beyond the immediate price action, analyst Tanaka argued that the CLARITY Act could represent the most significant regulatory unlock for Ethereum this cycle.　　The bills mature blockchain test, which classifies networks as digital commodities based on decentralisation, open-source code, permissionless access, and real utility, fits Ethereum better than almost any other major Layer 1 network.

05-29Ethereum

Ethereum Price Prediction: Standard Chartered Forecast $40K For ETH

Ethereum　　Ethereum Price Prediction: Standard Chartered Forecast $40K For ETHEthereum trades below major EMAs, with $2,140–$2,280 forming strong resistance barrier.Derivatives elevated, open interest stable, traders cautious near key support.Long-term outlook remains bullish as institutions maintain $4K and $40K targets.　　Ethereum extended its decline this week after losing the critical $2,000 support level, while bearish technical signals continued building across the market. The second-largest cryptocurrency traded near $1,984 during Thursdays session.　　Consequently, traders faced rising uncertainty as weak momentum and heavy resistance limited recovery attempts. At the same time, derivatives activity remained elevated, showing that investors still maintained strong exposure despite growing downside risks. However, long-term institutional forecasts continued supporting Ethereums broader outlook, even as short-term sentiment weakened.　　Ethereum Faces Strong Resistance Pressure　　Ethereum now trades below its 20-day, 50-day, 100-day, and 200-day exponential moving averages. Besides, the EMA cluster between $2,140 and $2,280 continues acting as a major resistance barrier. Sellers regained control after Ethereum failed to sustain rebounds above the $2,100 region earlier this month.　　Technical indicators also reflected growing bearish momentum. The Directional Movement Index showed the negative directional line moving sharply above the positive line. Additionally, the Average Directional Index strengthened, signaling increasing trend pressure on the downside.　　Several Fibonacci retracement levels now serve

05-29Ethereum

Standard Chartered says battered Ethereum looks like Amazon in 2001

Standard Chartered is telling clients to treat Ethereum‘s latest price slump the way Jeff Bezos told Amazon shareholders to treat the dot‑com crash, arguing that the token’s “stock is not the company” and that fundamentals will force price to catch up over the next cycle.Geoffrey Kendrick at Standard Chartered compares Ethereum to Amazon after the 2001 dot‑com bust, saying ETHs price is lagging its internal metrics.The bank keeps a $4,000 end‑2026 target and a $40,000 2030 target for ETH, banking on stablecoins, tokenization and policy clarity to close the gap.Critics note Standard Chartereds spotty crypto calls, but the Amazon analogy lands in a market where Ethereum remains the dominant base layer for real‑world assets.　　Geoffrey Kendrick, Standard Chartered‘s global head of digital assets research, told clients he views Ethereum (ETH) “very much as Jeff Bezos described Amazon’s share price during the 2001 tech bubble burst,” insisting that the recent drawdown “does not reflect continuing improvements in Ethereums network fundamentals.”　　In a note summarized by journalist Yogita and outlets like The Block, Kendrick leans on Bezoss line that “the stock is not the company,” pointing to how Amazon fell to around $6 in the early 2000s before compounding into a trillion‑dollar behemoth.　　The pitch

05-29Ethereum

Myriad launches $100K World Cup contest

Prediction market Myriad has launched a World Cup contest with a $100,000 prize pool ahead of the 2026 tournamentMyriad opened a trading contest tied to the 2026 World Cup, with $100,000 split between top traders and makers.The platform launched with over 75 multi-binary markets covering every match in the tournament.President Farokh Sarmad says the event showcases how prediction markets work around global sports.　　Prediction market Myriad has opened a trading competition built around footballs 2026 World Cup, putting $100,000 on the line. The contest runs in collaboration with layer-1 blockchain D.Energy.　　The launch lands as prediction markets push deeper into mainstream sports betting. Myriad launched the FIFA World Cup 2026 Prediction Contest with more than 75 multi-binary markets, letting users trade on every single match in the tournament.　　How the World Cup contest works　　The top three traders take home $20,000, $10,000 and $5,000 respectively, with a further $10,000 split across the rest of the leaderboard. Top makers draw on a separate $5,000 weekly pool, with the leaderboard reset each week.　　Market resolution runs through Chainlink oracles, while real-time sports data comes via Myriads tech partner 55 Tech. Both underpin how the contest settles each match outcome.　　“Were thrilled to be running this contest during the

05-29Industry

XRP Liquidity Hits Lowest Level Since 2020 — What Happens Next?

Tech　　XRP Liquidity Hits Lowest Level Since 2020 — What Happens Next？　　The average XRP trader active over the past 30 days is currently sitting on a loss of roughly 47%, according to blockchain analytics firm Santiment. That figure comes from XRPs 30-day Market Value to Realized Value ratio, which has now fallen to its lowest point since December 2020.　　Santiment says readings like this typically move back toward 0% over time, placing the current level in what analysts describe as an extreme undervalued zone.　　Similar conditions in past market cycles have appeared ahead of strong price rebounds, though the firm cautioned that a weak MVRV reading alone does not guarantee an immediate turnaround.　　The average XRP trader that has been active in the past 30 days is down a whopping -47% with many selling at the bottom. Historically, MVRVs (average trading returns) will always average out to 0%, making this current time an extreme undervalued zone for $XRP. The chart shows… pic.twitter.com/a0s4ObRpQu　　— Santiment Intelligence (@SantimentData) May 26, 2026　　Deeper Drop In Market Depth　　The trader loss data arrives alongside a separate finding on market liquidity. CryptoQuant analyst Arab Chain reported that XRPs 30-day liquidity index on Binance has dropped to approximately 0.043 — the weakest reading

05-29Industry

Zcash Whale Turns ZEC Portfolio 10x to Over $150 Million, But How?

The position then dropped more than 50% during 2025. The drawdown briefly erased about $8.6 million in paper value before the recovery began.　　“He made over $150M in a year. How？ ZEC,” Arkham noted.　　Partial profit-taking started in January 2025 and ran through late November. Eight sales totaled 54,718 ZEC for $22.61 million combined.　　The remaining 230,100 ZEC are worth roughly $126 million today. The trade fits a broader pattern of Zcash whale buying activity tracked through 2025.　　Privacy Coin Resurgence Fuels the Win　　The trade rode Zcashs 2026 surge, driven by renewed interest in privacy assets. Grayscale filed for a spot Zcash ETF earlier this month. The catalyst pushed ZEC to a recent peak above $700.　　Speculation is that the wallet belongs to Helius Labs co-founder Mert Mumtaz, a long-standing Zcash advocate and public champion of the network.　　Mumtaz has not addressed the speculation directly.　　“He didnt actually sell ZEC because he was just longing on hl checkmate,” Mert chimed.　　Arkham has not confirmed the identity, and the attribution remains unverified.　　Whether the wallet reaches a nine-figure realized total may depend on ZEC holding its current gains.　　The Grayscale decision and continuing shielded supply growth will shape the next phase for the privacy network.　　The post Zcash Whale Turns ZEC Portfolio

05-29Industry

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