Author: Gabby

Trump Media & Technology Group has moved an additional 2,650 Bitcoin, valued at approximately $205 million, to the Crypto.com exchange. This transaction, spotted by blockchain tracker Lookonchain, has intensified scrutiny of the company’s cryptocurrency strategy amid significant losses on its holdings.

The transfer originated from wallets associated with Trump Media, the parent company of Truth Social and predominantly owned by the Donald J. Trump Revocable Trust. While deposits to exchanges don’t guarantee an immediate sale, market participants typically view large inflows as a potential precursor to liquidation.

Earlier this year, the firm shifted 2,000 BTC (worth about $175 million) when Bitcoin was trading near $87,378. Since then, the market has worsened, with BTC hovering around $77,700 at the time of the latest transfer. Based on prior disclosures, Trump Media originally amassed 11,542 Bitcoin at an average cost of $118,522 per coin, spending nearly $1.37 billion. After the earlier transfer, its holdings dropped to 9,542 BTC; following the latest movement, the stash now appears to be roughly 6,889 BTC.

The company’s recent financial results already reflected the downturn. Trump Media reported a $405.9 million net loss for Q1 2026, with $368.7 million attributed to unrealized markdowns on digital assets and pledged crypto. As of March, the fair value of its Bitcoin holdings had fallen to about $647 million against a cost basis of $1.13 billion. The firm also disclosed ownership of roughly 756 million Cronos tokens linked to its Crypto.com partnership.

What does this mean for Bitcoin? Large exchange inflows can spark temporary fear among traders, as visible supply on order books may act as a resistance zone. However, the $205 million transfer is relatively small compared to Bitcoin’s multi-billion dollar daily trading volume. The market impact will depend on whether the coins are sold directly on the exchange or via over-the-counter channels. On-chain data shows that over 70% of Bitcoin’s circulating supply has remained unmoved for over a year, indicating strong long-term holder conviction despite corporate treasury weakness.

The perpetrator behind the exploit of the Verus Ethereum bridge has returned 4,052.4 ETH, approximately $8.5 million, to the project team following a negotiated settlement. This move leaves the attacker with 1,350 ETH, valued at around $2.86 million, as a bounty for returning the majority of the stolen funds.

Blockchain security firm PeckShield confirmed the transaction, noting that the returned assets constitute 75% of the total funds drained during the incident. The remaining 25% was intentionally left with the exploiter as a reward, per the terms proposed by the Verus community. On-chain data from Etherscan reveals that the return occurred on May 21, with the funds moving from a wallet labeled as Verus Exploiter 2 to a designated team address. Shortly after, the bounty amount was transferred to a separate wallet.

This outcome has sparked mixed reactions in the crypto community. Some observers, like Bee Swarm, view the 75% recovery as a positive precedent, suggesting that bounty-driven negotiations can be more effective than legal threats for retrieving stolen assets. Others, such as Zenthis, caution that partial recoveries do not address fundamental vulnerabilities in bridge security, arguing for more robust alternatives like atomic swaps to eliminate centralized custody risks.

The return follows a public offer from Verus, which outlined specific terms for the exploiter to follow. The community had agreed to a 1,350 ETH bounty in exchange for the safe return of the remaining funds. This approach contrasts with many past bridge attacks, where stolen assets are often laundered through mixers or remain under the attacker’s control indefinitely.

The Verus bridge exploit, which occurred on May 18, resulted in losses exceeding $11.5 million. Security researchers attributed the breach to a forged cross-chain transfer message that bypassed validation checks. The attacker initially drained 103.6 tBTC, 1,625 ETH, and nearly 147,000 USDC, later converting these assets into 5,402 ETH. Blockaid identified the root cause as missing source-amount validation within the bridge’s logic, ruling out other common attack vectors like ECDSA bypass or key compromise.

The incident adds to a growing list of cross-chain security failures. Recent attacks on the Butter Network bridge led to a 96% crash in MAPO tokens after attackers minted unauthorized tokens. Similarly, Echo Protocol faced a $76.7 million exploit involving fake eBTC collateral. These events highlight the persistent risks in bridge security, where weak validation can enable attackers to trigger unauthorized transfers or mint tokens before teams can intervene.

Bitcoin’s price slipped toward the $77,000 mark on Friday after it broke down from an ascending trendline that had been propping up its recovery since April. The digital asset struggled to hold above $82,000, a level reinforced by the 200-day moving average near $80,825, and the failure triggered fresh selling pressure.

Over the past week, leveraged long positions took a heavy hit, with liquidations ranging from $661 million to $850 million across exchanges as Bitcoin slid from its May peaks. The cascade of forced selling accelerated the downturn, pushing prices into thinner liquidity zones.

Institutional demand also softened, as U.S. spot Bitcoin ETFs recorded roughly $1.4 billion in net outflows over the last week. BlackRock’s IBIT saw one of its largest daily outflows during this period, and other major issuers faced consistent redemptions amid a broader reduction in risk appetite.

On-chain data added to the bearish narrative, with 9,664 BTC worth over $744 million moving to exchanges in the past five days, signaling potential selling pressure. Additionally, Trump Media & Technology Group transferred 2,650 BTC to Crypto.com, drawing attention to possible large-holder distribution.

The decline occurred during Bitcoin Pizza Day week, a time that usually boosts trading activity and highlights Bitcoin’s long-term gains. However, this year’s event was marred by rising volatility and worsening macro conditions.

Rising oil prices added to market stress, with WTI crude climbing above $98 per barrel amid geopolitical tensions involving Iran. Higher oil costs compounded inflation fears after recent U.S. CPI and PPI data exceeded expectations. Treasury yields rose as markets priced in fewer Fed rate cuts, and expectations of a hawkish Fed leadership shift further dampened sentiment.

Technically, Bitcoin’s breakdown below the ascending trendline and its failure to reclaim the 200-day moving average have weakened its daily structure. The price now sits below its 20-day moving average and is approaching the 50-day moving average near $76,427, a key support level. The MACD histogram has turned negative, erasing April’s bullish momentum.

Liquidation data from CoinGlass shows dense long liquidation clusters between $76,000 and $76,500, with another concentration near $74,000. This suggests Bitcoin may sweep lower before stabilizing. Trader Lennaert Snyder noted that Bitcoin’s daily candle closed weak after failing to reclaim $78,200, and he expects a sweep of sell-side liquidity at $76,400 before any recovery.

ZeroStack CEO Daniel Reis-Faria told crypto.news that Bitcoin’s rejection at the 200-day moving average reflects weak buying pressure. He said that unless buying picks up, Bitcoin will likely remain under pressure. Derivatives markets also show caution, with funding rates cooling and open interest declining alongside price.

For a bearish scenario to be invalidated, Bitcoin needs to recover above $79,000 and reclaim the 200-day moving average near $80,800. Progress in U.S.-Iran talks could lower oil prices and ease inflation concerns, while a reversal in ETF outflows would support prices. However, if Bitcoin fails to hold $76,000, it could slide toward $74,000 or even the 100-day moving average near $72,500.

A recent security incident involving Polymarket’s UMA CTF Adapter on the Polygon network has raised concerns, with onchain analysts urging users to exercise caution. The event was first flagged by ZachXBT, who reported suspicious activity leading to losses exceeding $520,000. The attacker’s wallet was identified, and security firm PeckShield confirmed that two addresses were drained, with some funds already moved to ChangeNOW.

Bubblemaps further warned that the exploit was ongoing, with 5,000 POL being siphoned every 30 seconds, pushing estimated losses to around $600,000 at the time. Data from PolygonScan corroborated these findings, showing repeated outgoing transfers matching that pattern. However, Polymarket contributor Shantikiran Chanal clarified that the issue stemmed from a private key compromise of an internal wallet, not a contract vulnerability, and assured that user funds and market resolutions remain secure.

This incident adds a new dimension to the ongoing debate around Polymarket’s security and regulatory standing. The platform has been expanding rapidly, but it has also faced legal challenges, such as a lawsuit from Wisconsin alleging unlicensed gambling. The exploit highlights the importance of robust internal controls and smart contract oversight, especially as the platform integrates with UMA’s Oracle system for market resolutions. Earlier controversies, including a UMA whale influencing a market outcome, have already put oracle voting power under scrutiny.

The broader DeFi space has seen a spate of similar incidents, including a bridge pause at Echo Protocol and a fund return in the Verus Ethereum bridge case. This latest event underscores the persistent risks in decentralized finance and the need for constant vigilance.

Chun Wang, co-founder of the Bitcoin mining pool F2Pool, has been selected to participate in a SpaceX Starship mission that will venture beyond the Earth-Moon system, perform a flyby of Mars, and return to Earth. The journey is expected to take about two years, though no launch date has been confirmed.

Before the Mars flight, Wang is slated to join Dennis Tito and Akiko Tito on a commercial Starship mission orbiting the Moon. That week-long trip will bring the spacecraft within roughly 200 kilometers of the lunar surface, offering opportunities to test new technologies and procedures.

Wang brings prior spaceflight experience: he funded and commanded Fram2, the first crewed mission to fly over Earth’s polar regions, which launched in 2025. That mission carried out scientific experiments related to human health, space travel, polar auroras, and microgravity.

As a co-founder of F2Pool in 2013, Wang helped establish one of the largest Bitcoin mining pools. The pool currently holds about 107.2 exahashes per second, representing roughly 10% of the global Bitcoin mining hashrate, according to Hashrate Index data. F2Pool ranks behind only Foundry USA and AntPool.

The SpaceX plan marks a new connection between cryptocurrency wealth and ambitious space exploration. While the Mars mission remains in the planning stages—Starship is still undergoing testing, and multi-year private flights beyond the Moon pose significant challenges—Wang’s involvement gives the crypto industry a tangible link to humanity’s expansion beyond Earth orbit.

The altcoin market is seeing standout performances from Hyperliquid and Zcash, but both face growing concerns about sustainability as technical indicators flash warning signs. Analysts highlight that while these assets have attracted significant attention, crowded positions and overbought conditions could trigger pullbacks.

Hyperliquid is trading around $59 after surging nearly 30% in a week and over 45% in a month, hitting a record high of $62.18. The token’s rise has been fueled by ETF launches and strong DeFi activity, yet social media mentions have also hit unprecedented levels, a factor that often signals a potential top. When a trade becomes too popular, late buyers may enter near resistance, increasing the risk of a reversal.

Technical analyst Ali Martinez notes that Hyperliquid is approaching a key resistance zone, with a TD Sequential sell signal, an overbought RSI, and elevated momentum readings. He suggests the token could still push toward $60 before momentum fades, but a rejection might lead to a drop to around $40. This caution aligns with earlier reports that highlighted short-term volatility despite supportive medium-term flows.

On the fundamental side, 21Shares has launched the first U.S. Hyperliquid ETFs, including a staking product and a leveraged one, while Bitwise committed 10% of management fees from its Hyperliquid ETF to buybacks. These moves underpin long-term demand, but they may not prevent short-term corrections.

Zcash, meanwhile, has rallied over 100% in 30 days, trading near $645 after briefly approaching $700. The move is attributed to regulatory relief, institutional accumulation, and a bull flag breakout. However, analyst Ardi notes that the recovery appears driven by mid-sized flows rather than retail, suggesting a more calculated buying pattern. Yet, Ali Charts warns that Zcash is now testing the same $700–$730 area that caused a major rejection in November. A weekly TD Sequential sell signal adds to the caution, with potential downside targets near $500 and $380 if the rally reverses.

While both assets enjoy strong narratives—Hyperliquid as a DeFi powerhouse and Zcash as a privacy leader—the immediate outlook hinges on whether they can break through key resistance levels without triggering profit-taking. Current indicators suggest that the path forward may be rocky, with traders advised to watch for signs of exhaustion.

Solana (SOL) is making another attempt to breach the $100 threshold, facing a formidable double-top resistance pattern that has repeatedly thwarted upward moves since late 2025. Currently trading around $87, the digital asset has recovered from recent market turbulence, buoyed by a modest improvement in risk appetite after Bitcoin reclaimed the $77,000 level. The broader market rebound was triggered by easing geopolitical tensions, although traders remain cautious ahead of upcoming U.S. inflation data and Federal Reserve statements that could sway liquidity conditions for risk assets.

Institutional interest in Solana remains robust despite the correction. Morgan Stanley has reportedly refiled a Solana exchange-traded fund (ETF) that includes staking support under the ticker “MSOLsec,” reinforcing expectations that regulated SOL investment products could mirror the success of Bitcoin and Ethereum ETFs. This development follows a period where Solana-linked investment products from firms like Bitwise have maintained steady inflows, even as other altcoins saw declining capital. Analysts interpret this sustained demand during a downtrend as evidence of long-term positioning rather than speculative trading.

On-chain fundamentals also paint a constructive picture. In April 2026, Solana-based decentralized infrastructure (DePIN) ecosystems generated record combined revenues of approximately $2.9 million, driven by projects such as Helium, Render, and Hivemapper. These platforms leverage Solana for AI compute, mapping, and wireless connectivity, signaling growing enterprise adoption. Major companies like Visa have integrated Solana into stablecoin settlement operations, while Meta has explored creator payouts via USDC on Solana rails. These commercial integrations are viewed as a long-term support layer that differentiates Solana from other Layer-1 networks.

From a technical perspective, Solana is trapped beneath a critical resistance zone after forming a double-top pattern on both daily and weekly timeframes. The $95–$100 region has capped multiple upside attempts, and the price remains below the 200-day moving average near $107.89. Short-term moving averages around $86–$89 are flattening, indicating a consolidation phase. Momentum indicators have weakened but not turned bearish; the daily MACD histogram is still negative but shows fading selling pressure. Weekly MACD readings have stabilized, hinting at a potential medium-term trend reversal if buyers can reclaim higher levels.

Traders are eyeing the 0.382 Fibonacci retracement zone between $87 and $90 as a key area. Sustained closes above this level could signal that Solana is transitioning from its post-double-top consolidation. A breakout above $90 may expose liquidity near $95 before opening the path to the psychological $100 barrier. Analyst Javon Marks noted that Solana is testing a long-term support level that previously triggered rallies of 80% and 270%. He predicts a potential 165% climb to $233.8 if the pattern repeats.

Derivatives data suggests heightened volatility ahead. Liquidation heatmaps from CoinGlass show dense clusters between $90 and $95, where a decisive move could force short liquidations and accelerate upward momentum. Short sellers have absorbed nearly five times more liquidations than longs, and open interest has begun rising after weeks of deleveraging. Funding rates have stabilized near neutral, which many consider healthier than crowded long positioning. Meanwhile, Solana’s total value locked (TVL) has shown signs of stabilization after months of contraction, which could bolster spot demand for SOL if it continues.

Despite these positives, several risks could invalidate the bullish thesis. Bitcoin’s fragile position near support levels remains a concern, as macro uncertainty from geopolitical events—such as oil market volatility related to U.S.-Iran tensions and Strait of Hormuz disruptions—could reignite inflation fears and delay Federal Reserve rate cuts. Solana’s technical structure also carries bearish risks: repeated rejections at the $95–$100 resistance could weaken bullish momentum, especially if spot demand declines. Failure to hold the $84–$85 support zone might expose lower liquidity at $80, potentially leading to a retest of March lows.

On the weekly chart, Solana still trades well below its 2025 highs, and some traders view current rallies as relief bounces within a larger bearish structure until the asset reclaims the $104 breakdown level. However, improving institutional narratives, expanding enterprise adoption, growing DePIN revenues, and mounting short-side leverage provide bulls with a credible case for another breakout attempt. If Bitcoin stabilizes and macro conditions avoid further deterioration, Solana may soon test whether the market has enough momentum to break the double-top ceiling and reclaim triple-digit territory.

Bitget has introduced a new financial product aimed at traders eager to speculate on SpaceX’s market debut. The exchange launched SPCXUSDT, a perpetual contract tied to the private aerospace company, allowing users to bet on price movements before any official stock becomes available. This derivative, settled in USDT, operates continuously with 5x leverage and funding fee adjustments every eight hours.

The contract does not represent actual ownership of SpaceX shares. Instead, it tracks market sentiment and expectations surrounding a potential initial public offering. This distinction is crucial, as private company valuations can fluctuate dramatically in the pre-IPO phase. Bitget has also added preSPAX spot trading in its pre-IPO zone, offering another avenue for exposure.

SpaceX has become a focal point for investors globally, driven by its achievements with Falcon rockets, Starlink, and Starship. Reports indicate the company is targeting a Nasdaq listing as early as June 12 under the ticker SPCX. The IPO could value SpaceX at approximately $1.75 trillion, with a potential raise of $75 billion, making it one of the largest market entries in history.

Bitget’s campaign plays on the excitement around SpaceX’s future, questioning whether it can replicate the post-IPO surges seen by major tech firms. However, such outcomes remain speculative until official terms are disclosed. The launch positions Bitget among a growing list of crypto exchanges offering SpaceX-linked derivatives. Competitors like Bybit have also rolled out similar products with higher leverage. This trend highlights a shift in crypto trading platforms expanding beyond digital assets into private market derivatives and tokenized equity.

For traders, the allure is early access to a high-profile company. Yet the risks are significant, as these contracts respond to sentiment rather than concrete financial data. Bitget’s SPCXUSDT aligns with its broader Universal Exchange vision, while the market demonstrates that speculative demand for SpaceX is already being priced in through crypto channels before traditional stock exchanges get involved.

Bitcoin DeFi has long been a niche for technical users, but platforms on Rootstock are changing that by offering straightforward staking, rBTC rewards, and decentralized finance access built on Bitcoin’s security. Less than one percent of Bitcoin is used in DeFi, largely due to barriers like complex wallets, bridging, and high fees. A recent survey found that over a third of users avoid Bitcoin DeFi because of trust issues. However, the sector is growing rapidly, with total value locked surging from around $300 million in early 2024 to nearly $6.5 billion by mid-2025, driven by EVM-compatible sidechains like Rootstock that bring familiar tools to Bitcoin.

Rootstock, operating since 2018 with 100% uptime, is Bitcoin’s longest-running sidechain. It uses merged mining to inherit Bitcoin’s security while supporting Ethereum-compatible smart contracts. Transactions confirm quickly and fees are much lower than on Ethereum—reduced by about 60% after network upgrades. The ecosystem includes over 150 partner applications like Uniswap, SushiSwap, and LayerBank. RootstockCollective, the first DAO for Bitcoin builders, simplifies participation: users can stake RIF tokens and support builders while earning rBTC, RIF, and USDRIF rewards distributed bi-weekly. No lock-up periods are required, and users maintain custody of their assets.

Getting started is easy with six steps. First, install MetaMask or another EVM wallet and add the Rootstock network. Next, acquire RIF tokens from exchanges like Binance or Gate.io, ensuring you select the RSK network for withdrawal. For gas, swap a small amount of RIF for rBTC on SushiSwap; even a tiny amount covers many transactions. Then, stake RIF on the RootstockCollective app to receive stRIF and voting power. After staking, you can back builders by allocating your stRIF to projects you support. Finally, claim rewards at any time from the Holdings screen. The process is transparent, with all transactions recorded on-chain.

The RootstockCollective model creates a virtuous cycle between backers and builders. Backers stake RIF and earn a share of builder rewards proportional to their allocation. Builders, including projects like OpenOcean, Boltz, and Money On Chain, receive community votes and access grants. The treasury is managed via multisig controls, and smart contracts use audited OpenZeppelin libraries. With over 35 million RIF staked and significant rewards paid out, the system is proven and user-friendly. To start, visit the RootstockCollective website, connect your wallet, and stake your first RIF.