Signal warns Canada exit may follow lawful access bill

Signal has warned that it may leave Canada if the countrys proposed lawful access bill forces the company to weaken its privacy tools. Signal says it may leave Canada rather than weaken its end-to-end encryption promises to users.Bill C-22 remains in committee as lawmakers review lawful access powers and metadata rules.Meta, Apple and Windscribe have also raised privacy and security concerns over the proposal publicly.  The warning came from Udbhav Tiwari, Signals vice president of strategy and global affairs.  Tiwari said Signal “would rather pull out of the country” than break the privacy promises made to users. He also warned that Bill C-22 “could potentially allow hackers” to target weaknesses built into electronic systems.  Canada says the bill supports law enforcement  Bill C-22, also called the Lawful Access Act, 2026, seeks to update Canadas rules for digital data access. Parliament records show the bill is now under review by the House of Commons Standing Committee on Public Safety and National Security after second reading on April 20.  The Canadian government says the bill would help law enforcement and CSIS respond to crime and national security threats. Public Safety Canada says Part 2 does not create new powers to intercept communications, but would make electronic service

05-15

Australias proposed CGT changes could discourage long term crypto holding

Australias proposed changes to capital gains tax could lead to smaller profits for cryptocurrency traders, especially low-income earners and could discourage “patient investing,” according to several crypto executives.  The proposed reform, announced by the ruling Labor Party on Tuesday as part of its fiscal year 2027 budget, will bring in a minimum 30% tax on capital gains and scrap the 50% capital gains tax discount on assets held for more than 12 months.  Robin Singh, CEO and founder of crypto tax platform Koinly, told Cointelegraph the proposed changes are a mixed bag: the new system “theoretically” protects investors from being taxed on purely inflationary gains, but in practice, most crypto investors will pay more tax, with low-income earners hit the hardest.  “A lower-income earner who would have paid around $3,800 under the old rules, 19% on a $20,000 discounted gain, will pay $10,200 under the new ones. Thats nearly triple. For students, part-time workers and anyone without significant other income, this is the biggest shift,” Singh added.  Many investors, particularly Gen Z and Millennials, have seen crypto as a way to create wealth and long-term financial well-being. The new tax changes could impact that notion. A 2025 report from crypto exchange Independent Reserve found

05-15

Examining whether Ondos rejection at $0.47 opens door to $0.26

Ondo [$ONDO] witnessed an 8.93% drop in Open Interest in the past 24 hours, and its price was down 4.78%. The altcoin has some upward momentum still – it has rallied 12% over the past week.  This Open Interest depression signaled that speculators were likely in the process of exiting the market, awaiting the next strong trend. It must be noted that the altcoin challenged the $0.47 local high on Saturday, the 9th of May.  Source: $ONDO/USDT on TradingView  In a recent report, AMBCrypto had warned that the 1-day structure remained bearish. A rally up to the 78.6% retracement level at $0.413 was anticipated, with a small chance of $0.47 being tested before a bearish continuation.  News that a team-linked wallet moved Ondo tokens worth $63.9 million to Coinbase had already warned of potential sell pressure. Though momentum was strong recently, the bearish outlook appeared to have held so far.  The bearish $ONDO setup following the recent rejection  Source: X  In a post on X, influencer Cryptorphic laid out a short setup that lined up with the 1-day $ONDO chart posted earlier. If the price breached the descending trendline and went above $0.42, it would invalidate the bearish setup.  Meanwhile, to the south, the $0.26 lows that the

05-15

Gemini reports 42% revenue growth after expansion into financial services

Crypto company Gemini reported a 42% year-over-year increase in revenue in Q1 2026 as it continued its growth from a pure crypto exchange to a financial services company.  Total revenue for the Winklevoss twins company grew 42% year over year to $50.3 million in the first quarter, while transaction revenue remained stable at $24 million, the company reported Thursday.  However, its crypto exchange revenue decreased 27% year-over-year to $17.2 million, “reflecting lower spot trading activity and a moderation in crypto market volumes,” while total trading volume declined to $6.3 billion from $13.5 billion in Q1 2025.  The biggest increase was in credit card revenue, which surged nearly 300% to $14.7 million, driven by significant growth in the Gemini Credit Card user base, the company said.  The expansion from crypto into broader financial services began in early 2021, when the company announced consumer finance products such as credit cards. Five years later, services and interest income, driven heavily by credit cards, made up almost half of total revenue, showing how pivotal the expansion has become.  “As Gemini continues to evolve, we expect that the momentum we have built in diversifying our revenue will only accelerate,” said Gemini president Cameron Winklevoss.  Geminis revenue increased, but so did operating

05-15

Crypto data company Dune cuts 25% of staff in restructuring

Crypto data company Dune said it is laying off 25% of its workforce, citing a need to restructure its business to focus on its core products.  “We‘re restructuring Dune to sharpen our focus around the core data products thousands of customers across the crypto industry rely on,” Dune co-founder and CEO Fredrik Haga posted to X on Thursday. “That unfortunately means we’ve let 25% of the team go this week.”  Haga did not share the number of staff who were laid off. The companys LinkedIn shows about 150 employees. Haga said the company remained “well capitalized” and that Dune was “all-in” on artificial intelligence and growing institutional interest in crypto.  Layoffs and closures are rising across the crypto and tech sectors this year, with many companies citing AI as both a help and a hindrance.  Just this month, Coinbase cut 700 employees, or about 14% of its workforce, on May 5, citing an increase in AI use, while the crypto news outlet DL News shuttered on Friday, citing part of the reason was decreased reach in internet search results due to AI aggregation.  Haga said that Dunes Model Context Protocol, or MCP, which allows AI to interact with the platform, means “teams and agents can

05-15

Bitcoin Trading at a 'Discount' on Coinbase: Is a Move to $76K Next for BTC?

Key takeaways:The Coinbase Bitcoin discount likely stems from stablecoin outflows rather than actual institutional sell pressure.Strategy continues buying Bitcoin as the market holds firm despite minor price differences across exchanges.  Bitcoin ($BTC) showed resilience on Thursday by successfully defending the $79,000 level. However, some traders worry that upside momentum is stalling as Bitcoin on Coinbase trades at a discount relative to stablecoin pairs on international exchanges.  Coinbase discount likely driven by stablecoin outflows  While the indicator is often debated, it potentially suggests a lack of institutional buying demand, though the situation is likely more complex.  $BTC/USD at Coinbase vs. $BTC/USDT at major exchanges. Source: TradingView s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

05-15

Decoding Ethereum’s 157mln dormant whale move after 9 years

Ethereum  Decoding Ethereums 157mln dormant whale move after 9 years  Ethereum whale activity increased sharply during the recent market retracement, with dormant holders returning to the network.  According to Arkham, a whale that acquired 69,400 Ethereum [ETH] during the 2015 ICO became active again after nine years. The wallet moved 69,878 ETH, worth nearly $157 million, across three newly created addresses.  Source: Arkham  The transfer may point to two possible scenarios.  First, the whale may have relocated assets for security reasons following recent dormant wallet exploits previously reported by AMBCrypto.  Second, the movement could signal preparations for future selling activity through smaller wallet distributions.  Did the whale transfer affect ETH?  Despite the attention around the transfer, the movement itself appeared neutral for Ethereums market structure.  The tokens had not entered exchanges at press time, meaning circulating sell-side pressure had not increased yet. At the same time, broader exchange activity still pointed toward accumulation.  Source: CryptoQuant  Exchange Netflow turned negative and dropped to -11.9k, reflecting rising outflows from trading platforms.  Negative Exchange Netflow usually indicates that buyers moved assets off exchanges and into private wallets. That shift suggested some market participants still accumulated ETH despite recent weakness.  Why does Ethereum still look weak?  Even with rising accumulation, Ethereums broader structure remained fragile.  AMBCrypto observed that downside momentum

05-15

There Are More XRP Whales Than Ever: Will it Trigger a Price Breakout to $2?

Tech  There Are More XRP Whales Than Ever: Will it Trigger a Price Breakout to $2?  XRP (XRP) has recovered from its April lows of $1.26, rising as much as 19% to a three-week high of $1.50 on Sunday.  Whale activity, network growth and a strengthening technical setup suggested that the XRP/USD pair was primed for a move higher once resistance at $1.50 is broken.  Key takeaways:XRP whale addresses hit record highs of 332,230, indicating accumulation.XRP Ledger monthly transactions hit an all-time high of 71 million in April.Price must break above the $1.50 resistance to continue its upside toward $2.  XRP whales show growing conviction  XRP whales remain confident about the prospects of a breakout, using the recent consolidation range to accumulate more tokens.  Santiments whale count metric indicates that the number of wallets holding at least 10,000 XRP has reached an all-time high of about 332,230.  “This extends a consistent growth trend that has been building since June, 2024,” Santiment in an X post on Wednesday.  Rela  The market intelligence firm explained that the amount of mid to large stakeholders continuing to grow is an important long-term signal showing that “larger holders have kept accumulating even during periods of volatility and uncertainty,” adding:  “Historically, rising numbers of mid-to-large wallets suggest

05-15

Elliptic closes $120M Series D led by One Peak Partners, backed by Deutsche Bank and NASDAQ

Tech  Elliptic closes $120M Series D led by One Peak Partners, backed by Deutsche Bank and NASDAQ  Elliptic, the London-based blockchain analytics company, just pulled in $120M in Series D funding. The round was led by growth equity firm One Peak Partners, with Deutsche Bank, Nasdaq Ventures, and the British Business Bank among those writing checks.  The raise values Elliptic at roughly $670M and pushes its total funding to approximately $224M since the company was founded in 2013.  What Elliptic actually does  The company processes over 1 billion transactions weekly across more than 65 blockchains. It serves over 700 clients spread across 30 countries, a roster that includes banks and government agencies.  The fresh capital will go toward expanding Elliptics AI-driven analytics capabilities. The specific focus: transaction monitoring for stablecoins and tokenized assets.  Why the big names are betting on compliance  Stablecoins are the clearest example of growing compliance demand. Theyve become the de facto rails for cross-border payments, remittances, and increasingly, traditional trade finance. Every one of those transactions needs to be screened for sanctions compliance, anti-money laundering requirements, and counter-terrorism financing rules.  Tokenized assets, the other area Elliptic is targeting, represent an even newer frontier. As firms like BlackRock and Franklin Templeton tokenize treasury funds and other

05-15

MEXC expands Guardian Fund to $500M, acquires 1,000 Bitcoin for dual-reserve structure

Bitcoin  MEXC expands Guardian Fund to $500M, acquires 1,000 Bitcoin for dual-reserve structure  MEXC is scaling its Guardian Fund from $100M to $500M over the next two years, a fivefold increase that includes the purchase of 1,000 Bitcoin. The move creates what the exchange calls a “dual-reserve” structure, blending USDT liquidity with long-term BTC holdings to backstop user funds during periods of market chaos.  What the Guardian Fund actually does  The Guardian Fund is MEXCs version of a user protection reserve, a pool of capital designed to cover users during market volatility, operational disruptions, or the kinds of crises that tend to make crypto traders lose sleep. MEXC has positioned it explicitly as an institutional-grade protection mechanism, not a speculative vehicle.  The funds holdings will be stored in publicly disclosed wallet addresses. That means anyone with an internet connection can verify the reserves on-chain, a transparency measure that has become table stakes for exchanges after the catastrophic failures of 2022 and 2023.  The dual-reserve approach is the interesting piece here. By holding both USDT and Bitcoin, MEXC is hedging in two directions. USDT provides immediate dollar-denominated liquidity, the kind you need when things go sideways fast. Bitcoin, meanwhile, offers potential appreciation and serves as a long-term

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