Author: Gabby

A recent survey by the Federal Reserve reveals that approximately one in ten American adults either used or held cryptocurrency in 2025, marking a notable increase from 7% in the previous year. This growth is largely attributed to the introduction of spot Bitcoin and Ethereum exchange-traded funds (ETFs), which have provided a more accessible and familiar avenue for retail investors to participate in the digital asset market.

The Fed’s Survey of Household Economics and Decisionmaking (SHED), which sampled nearly 13,000 adults in October 2025, indicates that crypto adoption has rebounded from a post-FTX slump, though it still trails the peak of 12% seen in 2021-2022. The dominant use case remains investment, with about 7% of adults holding cryptocurrency as an investment vehicle. Only a small fraction uses it for everyday payments or money transfers, highlighting that most Americans view digital assets as speculative investments rather than practical currency.

The report directly links the uptick in participation to the approval and expansion of spot Bitcoin and Ethereum ETFs, which have enabled households to gain crypto exposure through brokerage and retirement accounts, bypassing direct exchange interactions. Demographically, crypto usage is most prevalent among adults under 45 years old and those with incomes above the national median, a consistent trend since the Fed began tracking this data in 2021.

Despite the overall rise in adoption, cryptocurrency’s role in everyday transactions remains minimal. According to a Kansas City Federal Reserve brief, the proportion of US consumers using crypto for payments has consistently been below 3% since 2021 and declined to under 2% in 2023-2024. The 2025 survey confirms that most crypto users are investors, not spenders, with investment purposes far outweighing transaction uses.

Overall, the new SHED data suggests that by 2025, cryptocurrency in the United States has settled into a bifurcated identity: a mainstream investment product accessible via ETFs for about 10% of adults, and a niche payment tool used by less than 5% of the population. Future shifts in this balance will likely depend on regulatory developments, stablecoin adoption, and deeper integration of digital assets into the financial system, areas that continue to evolve.

In a groundbreaking partnership, Polymarket has collaborated with Nasdaq Private Market to create the first prediction markets centered on private companies. This innovative offering allows traders to speculate on milestones such as valuation targets, initial public offering (IPO) dates, and secondary market pricing for privately held firms. The initiative marks a significant step in blending decentralized prediction platforms with traditional financial data sources, providing both retail and institutional participants with new opportunities to engage with high-growth companies before they go public.

The collaboration leverages Nasdaq Private Market’s authoritative data on private company transactions to settle the prediction markets. By using verified transactional data, the markets offer transparency and reliability, enabling users to trade outcome shares based on real-world events. Polymarket’s platform, which already facilitates betting on politics, macroeconomics, and crypto, now expands into the opaque world of private valuations. This move not only democratizes access to private market insights but also creates a feedback loop where trading activity can serve as a real-time indicator for institutional investors.

As Polymarket itself becomes a prominent private asset, with reports of a multi-billion-dollar valuation, this partnership underscores the growing institutional interest in prediction markets. By integrating Nasdaq’s data, the platform aims to provide a more accurate reflection of market sentiment, potentially influencing how private companies are valued in the future. The wisdom of the crowd, now applied to private equity, could challenge traditional valuation methods and offer a new benchmark for investors.

In its latest financial disclosure, Bitcoin mining equipment manufacturer Canaan Inc. revealed a net loss of $88.7 million for the first quarter of 2026, with revenue totaling $62.7 million. This performance aligns with the company’s earlier projections but reflects significant challenges posed by declining Bitcoin valuations and reduced mining profitability.

The company attributed the substantial loss to a $25 million inventory write-down, which contributed to a gross loss of $22.9 million for the quarter. Despite this, the net loss was only slightly worse than the $86.4 million deficit recorded in the same period last year.

According to CEO Nangeng Zhang, the results came in as expected despite headwinds such as Bitcoin price fluctuations, compressed hashprice, higher energy costs, and weather disruptions in North America. The firm’s industrial mining equipment segment generated $39.6 million in revenue, marking a 75% decline from the previous quarter after fulfilling a major North American order.

On the self-mining front, Canaan produced 257 Bitcoin, yielding $19.1 million in revenue at an average of $61,034 per coin. The company’s computing power across joint-mining projects rose 10.7% sequentially to approximately 11 EH/s. Its cryptocurrency holdings reached a record 1,807.60 Bitcoin and 3,951.53 Ethereum by the end of March.

Canaan also expanded its energy infrastructure by acquiring a 49% stake in ABC Projects in West Texas from Cipher Mining, adding about 4.4 EH/s of operational capacity. However, the company faces a potential Nasdaq delisting after its stock fell below $1, trading near $0.41.

Looking ahead, Canaan expects Q2 2026 revenue between $35 million and $45 million, significantly below analyst estimates of $96 million. CFO Jin Cheng noted that $42 million in customer receivables were collected in April, boosting cash reserves to about $85.5 million to navigate the downturn.

Wintermute, a well-known algorithmic trading and liquidity provider, has stepped into the DeFi vault curation arena with the launch of Armitage on May 19. This product aims to manage collateral types that other vault curators typically avoid due to complexity or low liquidity.

Armitage operates on the Morpho vault model, where independent curators set strategy and risk parameters without holding user funds. Wintermute claims its edge comes from its market-making expertise and deep understanding of collateral risk, which could allow it to accept a wider range of assets. The firm has not yet revealed specific collateral types, target APY, or initial assets under management, but it plans to expand offerings as the platform grows.

The DeFi vault sector has been attracting more institutional players throughout 2026. Morpho currently holds around $5.8 billion in total value locked, with curators like Gauntlet, Steakhouse Financial, MEV Capital, and Bitwise competing for deposits. Wintermute’s entry brings a market-maker perspective, leveraging its connections across hundreds of trading venues to handle assets that pure risk managers might reject. This institutional migration toward on-chain vaults is expanding the potential depositor pool for Armitage, especially those with non-standard collateral such as tokenized real-world assets or long-tail altcoins. Even the Ethereum Foundation has deployed ETH into Morpho vaults as part of a shift from token sales to yield-generating treasury management. Morpho’s expansion to the Flare blockchain earlier in 2026 also demonstrated how curator-led vaults are extending beyond Ethereum mainnet to reach XRP holders and others. Wintermute positions Armitage as a differentiated offering for institutional counterparties, aiming to capitalize on its deep liquidity expertise and risk management capabilities.

In a striking turn of events, a South Korean funeral services company named Bumo Sarang has suffered a significant paper loss after putting customer-linked funds into a high-risk Ethereum-related exchange-traded fund. The firm, which ranks as the country’s seventh-largest in its sector, allocated approximately 59.5 billion won—equivalent to around $40 million—into a leveraged ETF that tracks Bitmine, a company known for holding a substantial Ethereum treasury.

According to reports from the Korea Economic Daily, the investment’s book value had plummeted to just 10.2 billion won by the close of 2025, resulting in an unrealized loss of about 49.3 billion won, or roughly $33 million. A spokesperson for Bumo Sarang downplayed the situation, describing it as a short-term, controllable loss driven by global market swings that falls within the company’s financial safety net.

The specific product involved is the T-REX 2X Long BMNR Daily Target ETF, which aims to deliver double the daily returns of Bitmine’s stock. Leveraged ETFs like this one reset daily, meaning they can amplify losses during volatile periods. Bitmine, a major holder of Ethereum, saw its fortunes tied closely to crypto market sentiment, making the investment particularly risky.

This incident has reignited scrutiny over South Korea’s funeral mutual aid industry, which collects prepayments from customers but operates under the Fair Trade Commission rather than strict financial oversight. A review of audit reports from 75 funeral firms revealed that 32 companies, or 42.7%, held total assets less than their prepaid customer balances, posing potential refund risks if many clients cancel simultaneously. Additionally, another operator, Christian Funeral Family of Faith, reported a net loss of 500 million won in 2025, adding to concerns about the sector’s stability.

The Bumo Sarang loss underscores broader issues around the use of customer funds in speculative investments. While South Korean retail investors have shown strong interest in Ethereum-linked products, the volatility of such assets can lead to severe consequences for firms that rely on prepaid funds. This case serves as a cautionary tale about the intersection of cryptocurrency exposure and consumer protection, highlighting how leveraged products can create major losses outside traditional trading platforms.

Dogecoin is currently hovering around the $0.10 to $0.105 range, with a market cap of nearly $18 billion. The asset has seen a modest pullback over the past week, yet remains well above its bear market lows. Analysts suggest that significant upward moves require a fresh wave of retail excitement rather than normal market behavior.

Looking at the 2026 outlook, most models predict a tempered growth rather than a parabolic surge. Platforms like Changelly and CoinCodex anticipate an average price between $0.11 and $0.13, with year-end projections around $0.12 to $0.148. This represents roughly 40% upside from current levels, but far from previous all-time highs.

The base case for 2026 sits in the $0.125 to $0.145 range, driven by broad meme sentiment and overall crypto market trends rather than any unique technological catalyst. A more volatile scenario could see prices ranging between $0.09 and $0.25, depending on the next cycle’s intensity. Near-term expectations point to a slow but positive drift from $0.11 toward the high $0.12 if the altcoin market stabilizes.

To revisit the $0.30 mark, Dogecoin would need a major narrative catalyst such as a corporate integration, ETF approval, or viral social media event. Without such shocks, the coin’s large market cap and abundant supply make it difficult to sustain massive rallies purely on organic buying.

The structural risk for DOGE lies in its brand dominance being both an advantage and a limitation. Newer meme coins can siphon speculative capital, leaving DOGE acting more like a blue-chip volatility proxy. The genuine probability of a 100%+ gain from current levels is low, requiring a perfect storm of hype. A more realistic path sees DOGE oscillating between $0.08 and $0.20 over the next 12-18 months, with a center of gravity around $0.12 to $0.15. Buying at $0.10 is not an early entry but a bet that speculative focus will return to the original meme king.

Strive, Inc. has bolstered its Bitcoin holdings by acquiring 382 coins for roughly $30.3 million between May 13 and May 18, at an average price of $79,348 per Bitcoin. This latest acquisition pushes the firm’s total Bitcoin treasury to 15,391 coins, now valued at about $1.2 billion. The company has been funding these purchases through issuances of its Variable Rate Series A Perpetual Preferred Stock, avoiding traditional debt. Chairman and CEO Matthew Cole noted that the firm’s SATA preferred stock will become the first U.S. security to pay daily cash dividends starting June 16, at an annualized rate of 13%.

This move continues Strive’s aggressive accumulation strategy, adding over 2,200 Bitcoin since January 2026. The company’s year-to-date Bitcoin Yield stands at 18.4%, measuring growth per share adjusted for dilution. With an amplification ratio of 44.3%, Strive’s Bitcoin exposure relative to market value exceeds its holdings at face value through SATA issuances. The firm also holds $87.3 million in cash and a $49.8 million stake in Strategy’s STRC preferred stock.

Strive now ranks as the ninth-largest publicly disclosed corporate Bitcoin holder, sitting between Hut 8 and Riot Platforms. This positions the company closely behind Hut 8, which holds just 300 more Bitcoin. Meanwhile, Strategy remains the dominant holder with 843,738 Bitcoin. At the current price of roughly $77,000, the 382 Bitcoin purchased at $79,348 represent a modest unrealized loss on this tranche, though Strive’s overall average cost basis remains below market levels.

The XRP Alliance officially launched on May 19, marking a significant integration between D’CENT Wallet and Flare Network. This partnership gives D’CENT’s 720,000 hardware wallet users direct access to XRP yield vaults through Flare Smart Accounts. Users can deposit XRP from their hardware devices using two signatures on the XRP Ledger, with no need for a new chain, separate wallet, or additional gas tokens.

Two vaults were introduced at launch. The Monarq XRP Yield Vault, managed by Monarq Asset Management on Upshift infrastructure, targets an annual return of 3% to 4% by employing options trading, basis and funding-rate arbitrage, and on-chain XRPFi strategies. The earnXRP vault, curated by Clearstar, offers the first fully on-chain yield product denominated in XRP, with returns automatically compounded. D’CENT emphasized that this collaboration provides the best and easiest way to deposit and manage XRP in the Monarq Yield Vault while maintaining top-tier hardware security.

The alliance includes Doppler, Banxa, and Squid, aiming to enhance distribution and interoperability within the XRP ecosystem. Flare has been building vault infrastructure, including modular lending for XRP via Morpho and Mystic, which this integration now extends to hardware wallet holders for the first time. Historically, XRP holders have faced limited options for using their assets in programmable finance, but this development changes that landscape. XRP ETF products have seen growing institutional demand, with $81.63 million in net inflows in April 2026, the highest monthly figure of the year. The D’CENT integration brings institutional-grade yield infrastructure to retail and semi-institutional users who store billions of XRP in hardware wallets.

A 0% platform fee campaign is running from May 19 to June 8, allowing users to pay only Flare’s standard base fees. Many other platforms charge additional platform fees, making this offer attractive. The Monarq vault has an initial deposit cap of 500,000 FXRP, and both vaults are also accessible to non-D’CENT users through Upshift. Users can monitor live market conditions on crypto.news’ XRP price page, as vault returns depend on XRP price movements and strategy performance.