Silver Drops 3.24% in Shanghai as Precious Metals Face Fresh Selling

The silver move coincided with a rising inventory of the same metal in SHFE vaults and a deteriorating chart structure from the side of the platinum analysts.  Silver was broadly down, and platinum had fresh technical weakness in precious metals in Shanghai. Silver and gold, palladium and platinum also ended the session down, with silver finishing at $83.73, according to SilverTrade.  Traders are now focused on whether the sell-off will resume or if buyers will be able to provide support at key levels after the recent big pullback.  Silver Leads Shanghai Metals Selloff  The major metals listed in the daily report of China SGE/SHFE made the biggest declines, with silver seeing the sharpest drop. The report revealed that silver on SHFE closed at 18,251 yuan per kilogram, a 3.24% decrease, and that the converted dollar price stood close to USD 83.73 per ounce.  According to the analyst‘s X post, the weakening of silver was the highlight of the day’s metals weakness. Gold on SHFE also fell, closing at 983.56 yuan per gram, down 1.58%, or about $4,512.10 per ounce. SGE gold also moved lower, with Au(T+D) closing at 981.95 yuan, down 1.22%, or around $4,504.72.  Silver on SGE settled at 18,202 yuan per kilogram, 2.49% lower

05-28

Prediction markets battle escalates after president Donald Trump sides with CFTC

The CFTC has moved a proposed rule on prediction-markets event contracts into White House review as federal and state officials fight over who should police the fast-growing sector.The CFTCs proposed prediction-market rule is under White House review before it can be released for public comment.The rule could create the first comprehensive federal framework for event contracts and affect platforms such as Kalshi and Polymarket.Trump backed CFTC control over prediction markets, while Illinois Governor JB Pritzker defended state action against insider trading.  Bloomberg first reported that the proposal is now before the White House Office of Management and Budget, a step that precedes the Commodity Futures Trading Commissions release of the plan for public comment. The details have not yet been published.  CFTC pushes toward event contract rules  The proposed rule is expected to draw from a CFTC consultation held in the spring, which attracted more than 3,000 public comments. Those responses covered insider trading, barred contracts, market safeguards, and the legal structure around event contracts.  If adopted, the rule would give the US its first full federal framework for prediction-market contracts. It could also affect how platforms such as Kalshi and Polymarket serve US users, especially as the industry faces rising legal pressure from

05-28

Indonesia Blocks Polymarket: Prediction vs Gambling Law

How are other countries drawing the line right now?  There is no global consensus. A few broad patterns are visible:  In the United States, federal derivatives law often applies to event contracts. Some platforms have sought regulated pathways for limited categories (such as certain economic indicators), but political markets remain a flashpoint, with ongoing litigation and administrative proceedings. PredictIt‘s academic-market no-action relief was partially curtailed, and Kalshi’s attempts to list political contracts drew challenges—illustrating the contested perimeter.  In the United Kingdom, the Gambling Commission can treat real-money event markets as betting unless they fall under financial-services rules. Political-betting permissions are narrower than sports, and consumer-protection expectations are high.  The European Unions MiCA regime focuses on crypto-asset issuance and service providers; it does not directly license gambling. Event markets offering non-financial outcomes for cash stakes are generally caught by national gambling laws, not MiCA.  Across Asia-Pacific, authorities vary: some emphasize gambling prohibitions and payment controls; others explore sandboxed derivatives approaches. The common thread is that unlicensed, offshore, retail-facing event betting tends to be restricted.  What risks do users face when a platform is blocked?  Regulatory blocks change your risk profile immediately. Even if you previously accessed a platform, you may not be able to close positions, withdraw promptly,

05-28

BIS tokenization moves to real value payments

BIS tokenization work has cleared its atomic settlement prototype phase and will graduate to real-value cross-border payment trials.Project Agora demonstrated tokenised cross-border settlement across seven central banks and more than 40 financial institutions.The Bank of Canada joined Wednesday, with real-value transactions set as the next testing milestone.The prototype preserves correspondent banking, sanctions screening, and SWIFT compatibility rather than replacing them.  BIS tokenization work has cleared its atomic settlement prototype phase and will graduate to real-value cross-border payment trials. The Bank for International Settlements confirmed the move Wednesday.  Project Agora, a public-private collaboration with seven central banks and more than 40 financial institutions, showed that tokenised commercial bank deposits can settle against tokenised central bank reserves on a shared platform with finality across jurisdictions.  Why the BIS tokenization prototype matters for global banks  The prototype demonstrated atomic settlement, where every leg of a cross-border transaction clears at the same instant or not at all. Banks involved said the design compresses correspondent flows that currently take days into seconds.  “Once you know you have everything to run the transaction, you settle it in one go,” BIS Deputy General Manager Andrea Maechler said in remarks accompanying the release. The Bank of Canada also joined the project on Wednesday.  Project

05-28

Singapore charges former Hodlnaut CEO Zhu Juntao over Terra collapse claims

Singapore authorities have charged the former CEO of collapsed crypto lender Hodlnaut Zhu Juntao with fraud, nearly four years after the firm froze withdrawals during the collapse of the TerraUSD ecosystem.  The Singapore Police Force said that Zhu faces six charges of fraud by false representation in an announcement on Tuesday. Prosecutors allege Zhu directed employees in 2022 to publish false statements on Hodlnaut‘s Telegram channels and in customer emails claiming the company had no direct exposure to TerraUSD’s collapse, and had not suffered losses as a result.  Authorities also alleged Zhu repeated similar claims on his personal X account, then known as Twitter, in three posts in June 2022. If convicted, Zhu could face up to 20 years in prison, fines, or both on each charge under Singapore law.  Zhu disputed all six charges in court and was given a pre-trial conference date in June 2026, according to local media reports.  Hodlnaut was one of several crypto lenders that failed after the implosion of Terraform Labs algorithmic stablecoin ecosystem in May 2022. The collapse erased about $40 billion from the crypto market and contributed to failures at firms including Three Arrows Capital, Celsius and Voyager.  Reports filed during Hodlnaut‘s restructuring proceedings indicated the company

05-28

Market Movers: Memory Chip Giants Hit $1 Trillion as Goldman Sees S&P 500 Reaching 8,000

Micron Technology jumped 19.3% to $895.88 following a UBS price target increase to $1,625, elevating its valuation beyond $1 trillionSK Hynix achieved a $1 trillion market capitalization milestone as memory chip valuations doubled during Q1Marvell Technology climbed more than 5% before its earnings release, benefiting from its AI networking and custom chip exposureAbercrombie & Fitch exceeded profit forecasts with $1.47 EPS while revenue came in marginally below expectationsGoldman Sachs elevated its S&P 500 year-end projection to 8,000, citing AI sector earnings as a primary catalyst for roughly 50% of anticipated gains  May 26 brought significant market action across Micron Technology, SK Hynix, Marvell Technology, Abercrombie & Fitch, and Goldman Sachs. The trading session featured notable movements in AI memory manufacturers, retail sector updates, and optimistic market forecasts.  Below is a comprehensive analysis of each major development.  Micron Technology Rallies 19% on UBS Upgrade  Micron Technology delivered an exceptional trading performance with one of its strongest single-day gains. Following UBSs dramatic price target revision from $535 to $1,625, shares climbed 19.3% to close at $895.88.  This substantial rally propelled Microns valuation past the $1 trillion threshold for the first time in company history. UBS analysts pointed to extended customer contracts, constrained memory supply, and escalating artificial

05-28

XRP Perp Activity on Binance Signals Rising Speculative Momentum

Leverage Is Back. Price Has Not Caught Up Yet  That divergence between derivatives activity and spot price is the part worth unpacking. Traders were adding short-term leveraged positions in size, yet XRP was not moving with the same energy. The imbalance between perp volume and spot volume tells you where the conviction actually lives.  A volume imbalance value of 0.54 does not arrive quietly. It indicates perpetual contract volumes running considerably higher than spot, a sign that traders are positioning for moves rather than simply holding or accumulating.  Per the CryptoQuant quicktake, the closer the Z-Score gets to or past 1, the more pronounced the momentum signal becomes. It was sitting at 0.95. Close enough.  What the Chart Does Not Say Outright  The indicator does not make a directional call. It tracks intensity, not intent. Traders piling into perps on Binance could be going long, short, or both, and the data does not sort that out cleanly. What it does show is that the quiet period is likely over.  Recent reporting on XRPs Binance liquidity conditions noted the 30-day liquidity index had collapsed to multi-year lows, around 0.043, a reading not seen since early 2020. Shallow order books plus rising perp activity is a combination that

05-28

Bankless Co-Founder David Hoffman Sells All His ETH Holdings

David Hoffman, co-founder of the crypto media outlet Bankless and a prominent Ethereum advocate, has revealed that he sold his entire Ether (ETH) position. Hoffman announced the decision via an X post on May 21, citing a belief that the window for ETH to achieve a significant market repricing has closed.  “Ethereum got the ETH price it deserves, and I don‘t see ETH being rerated as an asset, higher or lower,” Hoffman wrote. While remaining optimistic about Ethereum’s future as a blockchain, he no longer sees its native token, ETH, as a primary beneficiary of that success.  ETH is currently trading at $2,073.32 as of May 27, 2026, down nearly 60% from its all-time high of just under $5,000 reached in late 2021. The tokens price has been rangebound for years, underperforming other major cryptocurrencies during the most recent market cycles.  “ETH Is Money” Thesis Falls Flat  Hoffman‘s decision marks a symbolic shift, given his long-standing advocacy for the “ETH is Money” narrative. This thesis posits that Ethereum’s native token functions as a superior store of value due to its decentralized nature and inflation-resistant mechanisms introduced after the London hard fork in 2021.  However, Hoffman now argues that this narrative has “played out” and that

05-28

BIS tokenization moves to real value payments

BIS tokenization work has cleared its atomic settlement prototype phase and will graduate to real-value cross-border payment trials.Project Agora demonstrated tokenised cross-border settlement across seven central banks and more than 40 financial institutions.The Bank of Canada joined Wednesday, with real-value transactions set as the next testing milestone.The prototype preserves correspondent banking, sanctions screening, and SWIFT compatibility rather than replacing them.  BIS tokenization work has cleared its atomic settlement prototype phase and will graduate to real-value cross-border payment trials. The Bank for International Settlements confirmed the move Wednesday.  Project Agora, a public-private collaboration with seven central banks and more than 40 financial institutions, showed that tokenised commercial bank deposits can settle against tokenised central bank reserves on a shared platform with finality across jurisdictions.  Why the BIS tokenization prototype matters for global banks  The prototype demonstrated atomic settlement, where every leg of a cross-border transaction clears at the same instant or not at all. Banks involved said the design compresses correspondent flows that currently take days into seconds.  “Once you know you have everything to run the transaction, you settle it in one go,” BIS Deputy General Manager Andrea Maechler said in remarks accompanying the release. The Bank of Canada also joined the project on Wednesday.  Project

05-28

Singapore charges former Hodlnaut CEO Zhu Juntao over Terra collapse claims

Singapore authorities have charged the former CEO of collapsed crypto lender Hodlnaut Zhu Juntao with fraud, nearly four years after the firm froze withdrawals during the collapse of the TerraUSD ecosystem.  The Singapore Police Force said that Zhu faces six charges of fraud by false representation in an announcement on Tuesday. Prosecutors allege Zhu directed employees in 2022 to publish false statements on Hodlnaut‘s Telegram channels and in customer emails claiming the company had no direct exposure to TerraUSD’s collapse, and had not suffered losses as a result.  Authorities also alleged Zhu repeated similar claims on his personal X account, then known as Twitter, in three posts in June 2022. If convicted, Zhu could face up to 20 years in prison, fines, or both on each charge under Singapore law.  Zhu disputed all six charges in court and was given a pre-trial conference date in June 2026, according to local media reports.  Hodlnaut was one of several crypto lenders that failed after the implosion of Terraform Labs algorithmic stablecoin ecosystem in May 2022. The collapse erased about $40 billion from the crypto market and contributed to failures at firms including Three Arrows Capital, Celsius and Voyager.  Reports filed during Hodlnaut‘s restructuring proceedings indicated the company

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