CFTC and Gemini Seek to Reverse $5M Settlement in Rare Move

The U.S. Commodity Futures Trading Commission (CFTC) has filed a joint motion with Gemini Trust Company to vacate a $5 million settlement reached in early 2025. The settlement stemmed from allegations that Gemini made false or misleading statements during the 2017 review of a proposed Bitcoin futures contract. This rare reversal comes after the CFTCs internal review concluded that the original enforcement action would not align with “current standards.”  The case dates back to a 2022 complaint in which the CFTC accused Gemini of misrepresenting key aspects of its trading platform, particularly its auction volumes and liquidity, during the self-certification process for a Bitcoin futures product. The allegations were based largely on a whistleblowers account that the CFTC now describes as “lacking credibility.” Despite these doubts, Gemini agreed to pay $5 million and accept an injunction against making misleading statements, without admitting wrongdoing.  In its latest motion filed on May 27, 2026, the CFTC argued that maintaining the settlement‘s remaining provisions, including injunctive relief, “serves neither the CFTC’s mission nor the public interest.” Gemini has already satisfied the financial penalty, but it remains unclear whether the agency plans to refund the payment.  The whistleblower claims at the heart of the case included allegations

05-29

VanEcks tokenized fund lands on Euler as DeFi courts Wall Street institutions

Decentralized finance (DeFi) protocols built for crypto assets are increasingly retooling themselves for Wall Street, and VanEcks tokenized Treasury fund arriving on lending platform Euler is the latest example of that shift.  Securitize (CEPT), issuer and tokenization specialist behind VanEcks VBILL Treasury fund, said Thursday that the product is now live on Euler lending markets.  The move allows investors to use tokenized U.S. Treasuries as collateral to borrow and deploy liquidity elsewhere onchain while maintaining compliance limits tied to the asset.  The move highlights how DeFi protocols are evolving as institutional investors push deeper into tokenized finance. Platforms that once centered around permissionless crypto assets are beginning to redesign their architecture for regulated products such as tokenized money market funds and private credit.  Tokenized U.S. Treasuries have become one of the fastest-growing sectors in crypto, topping $15 billion in assets swelling 150% in a year, according to RWA.xyz data. Global asset managers including BlackRock, Franklin Templeton and Janus Henderson have all launched blockchain-based Treasury and money-market products aimed at institutions seeking yield-bearing onchain collateral.  But thats still a fraction of the potential how big asset tokenization could become. Standard Chartered projected $2 trillion in tokenized assets by 2028, while BCG and Ripple forecasted a $18.9

05-29

BNB Enters US Spot ETF Market Through VanEck’s VBNB

Tech  BNB Enters US Spot ETF Market Through VanEcks VBNB  VanEck launched the first US spot BNB exchange-traded fund on Thursday, giving investors regulated exposure to the Binance-linked cryptocurrency through traditional brokerage accounts.  The ETF, trading under the ticker VBNB, is physically backed by BNB (BNB) held in cold storage with a qualified custodian, according to the announcement. BNB is the native token of BNB Chain and is used to pay transaction fees across the network.  According to VanEck, the fund is designed to track the spot price of BNB and may later incorporate staking if the issuer determines it can do so without regulatory or legal complications.  VanEck described BNB Chain as one of the largest blockchain networks by daily active users and transaction activity, citing more than $16 billion in stablecoin supply and roughly $3.6 billion in tokenized real-world assets on the network.  Data from CoinGecko shows BNB has a market capitalization of roughly $85.5 billion, ranking it among the five largest cryptocurrencies globally. The token was last trading near $633, with daily trading volume approaching $874 million.  Crypto ETF issuers push deeper into altcoins and complex strategies  The introduction of VBNB comes as asset managers roll out crypto exchange-traded products tied to alternative blockchain networks,

05-29

Grayscale Files New HYPE ETF Filing After Nasdaq Approval

Tech  Grayscale Files New HYPE ETF Filing After Nasdaq Approval  Grayscales Hyperliquid ETF has taken another step toward becoming public with the submission of a new filing to the U.S. Securities and Exchange Commission. Moreover, Nasdaq has accredited its application for the listing of the fund.  Grayscale Files HYPE ETF S-1 Amid Nasdaq Greenlight  On May 27, a certification letter signed by Nasdaq Regulation Senior Vice President Eun Ah Choi confirmed that the exchange had received the companys Form 8-A filing for the “Grayscale Hyperliquid Staking ETF Shares.” The document also claimed that Nasdaq had given official notice to list and register the security.  Bloomberg ETF analyst James Seyffart noted the information on X. He wrote, “Grayscale files amendment number four for their Hyperliquid ETF — $HYPG. Definitely getting closer to launch. Still no fee yet.”  Seyffart said that what he called the most notable change in the new HYPE ETF filing. “The most interesting update/change looks to be a seed capital investment of ~2 million hyperliquid:native or about ~$113 million! will come from Hyper Holdings Global LP,” he posted.  Other Recent Updates Around HYPE ETF  The new amendment comes after Grayscale filed a revised S-1 registration statement with the SEC on May 11. In that filing, the

05-29

Google Engineer Accused of Turning Secret Search Data Into a $1.2M Polymarket Profit

AlphaRaccoons username was removed from the Polymarket account after users on Discord and X speculated that the trader may have been a Google insider.  US prosecutors have charged Google software engineer Michele Spagnuolo, also known online as ‘AlphaRaccoon,’ with allegedly using confidential internal Google search data to profit roughly $1.2 million through bets placed on prediction market platform Polymarket.  According to a criminal complaint unsealed in the Southern District of New York, Spagnuolo allegedly accessed nonpublic ‘Year in Search 2025’ data from Googles internal systems and used that information to trade on Google-related markets on Polymarket before the results became public.  Polymarket Insider Trading Case  Prosecutors charged him with commodities fraud, wire fraud, and money laundering, while the Commodity Futures Trading Commission (CFTC) filed a parallel civil complaint accusing him of insider trading violations under the Commodity Exchange Act. The filing states that Google keeps its “Year in Search” rankings strictly confidential because the annual campaign is commercially valuable and designed around a coordinated public reveal intended to generate media attention, user engagement, and advertising demand.  Investigators said Spagnuolo had access to a Google internal software tool containing confidential trend data and that the tool itself displayed a “Google Confidential” warning banner. Authorities allege that

05-29

Debt Reset: Why Bitcoin Treasuries Pivot to Liability Control

Miners vs Non-Miners: Same Asset, Different Pressures  Bitcoin miners and non-mining corporates both hold BTC, but their balance-sheet physics differ. For miners, revenue is directly tied to network economics and energy costs; the halving reduces block subsidies, compressing margins unless offset by efficiency gains. That makes leverage more fragile.  Miners face capex cycles (new rigs, immersion, grid interconnects) and often finance with equipment loans or secured notes. Their liability control priorities typically include: securing low-cost power agreements, matching debt tenor to machine life, ring-fencing opex liquidity, and deciding how much produced BTC to retain versus sell. Some miners opt to monetize a portion of production via structured sales or calls to fund capex without heavy dilution.  Non-miners—software, fintech, or treasury-rich industrials—tend to hold BTC as a strategic reserve. Their core business cash flows can support debt, but investor tolerance for P&L volatility and dilution varies. For them, convertibles paired with opportunistic equity or long-dated secured notes can work, provided collateral encumbrance doesnt hamstring M&A or growth plans.  Both cohorts benefit from transparent risk limits and stepwise de-leveraging goals. A “glidepath” that reduces net leverage as market cap and liquidity rise can earn investor trust even while keeping a BTC anchor.  Why the Pivot Now: Liquidity

05-29

BTC Price Prediction: $85K Target Within 30 Days as Oversold Conditions Set Perfect Storm

The Immediate Setup  Bitcoin just handed bears exactly what they wanted: a brutal -3.46% daily drop that pushed price to $73,234, flirting dangerously with the lower Bollinger Band at $73,303. The RSI diving to 34.81 signals we‘re entering classic oversold territory where smart money starts accumulating. With momentum indicators completely flat and MACD histogram at zero, we’re sitting in that dead-calm zone that precedes explosive moves. The market is coiled like a spring, and Blockchain.news data shows this setup mirrors previous accumulation phases before major rallies.  Key Levels Exposed  The technical picture reveals a compressed battlefield. Bitcoin is trading $4,700 below its 20-day moving average at $77,977, creating significant mean reversion potential. Strong support clusters around $70,600, while the immediate resistance zone sits at $75,362 before the major battleground at $77,491. The Bollinger Band squeeze with Bitcoin‘s %B position at -0.007 indicates we’re hugging the lower band—historically a high-probability reversal signal. Average true range at $1,897 suggests we need to see moves exceeding $2,000 to confirm directional bias.  Sentiment vs Reality  Here‘s where it gets interesting: Tom Lee’s January prediction calling for new all-time highs this month aligns perfectly with what derivatives data is screaming. While retail sentiment appears cautious given the recent selloff, whale

05-29

Arm Holdings (ARM) Stock Soars 13% Following Mizuho’s Bullish $360 Target Revision

Arm Holdings plc American Depositary Shares, ARM  Mizuho‘s updated $360 price objective indicates potential upside of approximately 19% compared to Arm’s latest settlement price of $302.71. Should the stock reach this level, it would set a new peak in the companys trading history.  The analyst firm‘s bullish revision stems from two fundamental convictions. Mizuho anticipates that DRAM demand will maintain momentum through 2027. Additionally, the firm projects continued expansion in the addressable market for high bandwidth memory—both trends expected to benefit Arm’s semiconductor operations.  The evolving AI narrative provides additional support. Arm has increasingly emphasized emerging opportunities within agentic AI, a theme that market participants are viewing as a significant long-term catalyst.  The semiconductor designer‘s gross margin currently registers at 94.08%, while its market capitalization has expanded to approximately $322 billion following Wednesday’s advance.  Potential Headwinds Under Scrutiny  Despite the enthusiasm, the rally comes with certain considerations. Arm has recently identified new operational risks associated with demand forecasting as it transitions into production silicon.  The organization cautioned that closer collaboration with chip foundries may present complications related to supply chain management, manufacturing yields, and inventory optimization. These challenges represent legitimate concerns for an enterprise scaling its hardware manufacturing footprint.  Nevertheless, Mizuho‘s choice to increase rather than moderate its

05-29

Hyperliquid Builder Program Becomes Major Revenue Engine for Wallets and Bots: CoinGecko

Phantom leads Hyperliquid builders with $20.63 million in revenue and 137,496 users, capturing nearly one-third of the total top-10 earnings share.  Hyperliquid builder program has become a major revenue engine for wallets, bots, and trading apps that route user trades into Hyperliquids HyperCore perpetuals exchange through third-party interfaces, according to CoinGecko data.  The program allows developers, including wallets, Telegram bots, and trading frontends, to connect directly to the exchange, set their own fee rates on top of the base protocol fee, and retain 100% of what they charge. There is no gatekeeping or revenue share at the protocol level. As a result, builders compete primarily on product quality, user experience, and pricing, creating a distribution layer where different entry points all access the same order book.  Hyperliquid Builder Rankings  Among builders, CoinGecko found Phantom leads with $20.63 million in terms of cumulative revenue, and represents almost 32% of total earnings among the top 10 since the program began. It also has the largest user base at 137,496 users and averages about $150 revenue per user.  Based ranks second with $15.05 million in revenue from $44 billion in volume compared to Phantom‘s $39.4 billion, with its lower 0.025% builder fee versus Phantom’s 0.05% explaining the gap

05-29

Shiba Inu OI Crashes Over 30%, SHIB Burns Grind To A Halt; Is This The End?

Tech  Shiba Inu OI Crashes Over 30%, SHIB Burns Grind To A Halt; Is This The End?  The Shiba Inu (SHIB) price has remained under strong pressure this year as weak demand and fading market momentum continue to weigh on the meme coin. Beyond the price decline, new data now show that Shiba Inu‘s Open Interest (OI) has crashed by more than 30%, while its burn rate has also slowed significantly. The decline in these key metrics points to weakening investor interest, lower trading activity, and reduced network engagement. Combined with Shiba Inu’s ongoing price struggles, these growing bearish signals have raised concerns about whether Shiba Inu is losing the strength that once made it the second-largest meme coin in the crypto market.  Shiba Inu Open Interest Crashes As Price Plummets  On May 27, data from Coinglass revealed that Shiba Inu‘s Open Interest had dropped by 6% to $49.4 million, signaling weakness in futures activity and a decline in investor confidence in the meme coin. During the same period, Shiba Inu’s futures flow plunged by a staggering 190%, with outflows reaching $5.6 million, far exceeding the previous inflows of around $4.74 million.  Notably, this sharp decline pushed the net difference to $865,790 in total closed

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