Category: Cryptocurrency

Charles Hoskinson, the founder of Cardano, has raised concerns that additional businesses may exit the network following the closure of analytics firm TapTools, which cited rising operational expenses. In a recent video, Hoskinson argued that this shutdown is unlikely to be an isolated case, as harsh market conditions have put significant strain on projects within the Cardano ecosystem. He pointed to weak revenues and limited access to capital as key factors making it difficult for teams to sustain their operations.

Hoskinson stated that he had predicted a wave of failures earlier this year due to the poor state of the crypto markets. He emphasized that the network’s challenges require a collective effort from the community rather than relying on any single individual. While some critics have blamed him for the situation, he insisted that Cardano’s future depends on broader participation and funding initiatives.

The founder highlighted several attempts to strengthen the ecosystem, such as acquiring and commercializing applications, but noted that these faced resistance from parts of the community. Similarly, proposals to use treasury funds for supporting decentralized apps have struggled to gain approval. Hoskinson mentioned the community’s rejection of funding for the annual Cardano Summit as a sign of reluctance to allocate resources toward growth.

TapTools’ shutdown was attributed to rising costs related to infrastructure, software development, customer support, and maintenance. The company stated that it could not justify continuing operations under current financial conditions. This event has sparked debates about the long-term viability of projects building on Cardano, with Hoskinson warning that inaction could lead to consolidation as smaller applications struggle to survive.

Despite these challenges, Hoskinson expressed confidence in Cardano’s technical foundation and community, arguing that the network is not losing builders due to technological or philosophical reasons but rather because of adverse economic circumstances. He called for stronger support mechanisms to help developers and startups remain viable.

ADA, Cardano’s native token, has been under significant pressure, trading near $0.20 after a recent decline. The token has fallen about 70% over the past year and remains over 93% below its all-time high. Technical indicators present a mixed picture: the weekly MACD shows a bullish crossover, suggesting easing selling pressure, but both indicators remain negative, indicating a bearish trend. The Aroon indicator signals strong upward momentum, yet price recovery has not materialized. ADA is approaching a critical support zone around $0.22; a breakdown could expose the next level near $0.02, while a successful defense might allow a rebound toward $0.35-$0.40.

The Israeli Tax Authority’s voluntary disclosure program for cryptocurrency holdings has significantly underperformed, drawing far fewer participants than anticipated. According to a report by Globes, only 58 taxpayers have come forward to rectify their crypto tax filings, a stark contrast to the authority’s expectation of generating up to $1 billion in tax revenue. Disclosures have so far covered roughly $50 million in crypto capital, a small fraction of the predicted amount.

Introduced in August 2025, the program offers criminal immunity to eligible individuals who correct their reports and pay the full tax owed by August 31, 2026. Eligibility is limited to those whose crypto holdings did not exceed $522,000 as of December 2024. The lackluster response suggests that many crypto holders remain hesitant to participate.

Tax expert Iftach Simhony highlighted a key flaw: the absence of an anonymous initial stage. He noted that without anonymity, taxpayers who perceive their enforcement risk as low may avoid entering a process that exposes them before receiving any certainty. This structural issue may be deterring widespread participation.

Bank of Israel data reveals that Israelis held approximately $1 billion in crypto assets as of mid-2024, indicating a vast gap between expected disclosures and actual filings. The tax authority believes that substantial crypto profits remain undeclared, and the disclosed $50 million is just a fraction of the tax base.

This struggle comes as Israel tightens its oversight of digital assets. The central bank has been exploring stablecoin regulations and evaluating the role of private digital currencies in future payment systems. Meanwhile, in the United States, lawmakers have proposed the PARITY Act, which would exempt small crypto transactions from IRS reporting, reflecting ongoing global debates on balancing tax enforcement with practical burdens.

The price of Worldcoin has jumped more than 40% from late May, driven by a surge in whale transactions and network growth that reached their highest levels in 2026. This bullish momentum has brought the $0.65 resistance zone into focus for traders.

According to on-chain data, daily whale transactions above $100,000 have spiked to yearly highs, while active addresses and new wallet creation have also increased significantly. This suggests that large holders are accumulating WLD as the token breaks out of a long consolidation phase.

The rally has been supported by growing activity on the World App, which now features a portfolio tool and token swap rewards through a leaderboard system. Additionally, the AI-linked narrative around Worldcoin—given its association with OpenAI CEO Sam Altman—has attracted traders looking for exposure to the AI-crypto intersection.

Technical analysis shows that Worldcoin has broken above a descending triangle pattern that had constrained prices for months. The breakout pushed WLD above $0.54, with the next major target between $0.65 and $0.70. Momentum indicators like the MACD and Supertrend remain bullish, confirming a shift in market structure.

Key support lies near $0.45, and as long as that level holds, the path toward $0.65 remains open. If the bullish trends in whale accumulation and network usage continue, the probability of reaching $0.65 increases.

The U.S. Commodity Futures Trading Commission has officially terminated its decades-old policy that prevented defendants from publicly disputing allegations after settling enforcement actions. This change, announced recently, marks a significant pivot in how the agency handles crypto-related cases.

Established in 1998, the former rule effectively silenced firms that agreed to settlements, barring them from denying the charges even if they maintained innocence. The CFTC acknowledged that this approach might have been perceived as an attempt to avoid external scrutiny. Chairman Michael Selig emphasized that the agency is now aligning with broader government regulatory practices.

This move mirrors a similar reversal by the Securities and Exchange Commission, which scrapped its own no-deny provision in May after nearly five decades. SEC Chair Paul Atkins noted that the change allows settling parties to speak freely, fostering a more transparent enforcement record. Commissioner Hester Peirce also supported the shift, arguing that open dialogue strengthens regulatory clarity.

The timing of the CFTC’s decision is particularly relevant as regulators reassess their oversight of digital assets. Crypto firms have long complained that no-deny clauses forced them into silence despite disagreements with agency allegations. The new policy offers more flexibility, though the CFTC retains the authority to require admissions of fact or liability when warranted.

Notably, the policy change comes amid ongoing scrutiny of high-profile cases. For instance, Gemini recently settled with the CFTC for $5 million over claims related to a Bitcoin futures product. The exchange neither admitted nor denied the accusations at the time. However, the CFTC has since moved to vacate the prior order against Gemini, with Chairman Selig calling the case politically motivated. Gemini has agreed not to seek a refund of the penalty.

While the no-deny rule is eliminated, the agency will not enforce existing no-deny provisions in past settlements. For crypto companies, this development primarily alters the language of future settlement agreements rather than dismissing pending investigations or modifying existing laws. It provides defendants greater freedom to contest allegations publicly without forfeiting settlement benefits.

A recent report from Paybis highlights a major shift in how businesses handle international transactions. The platform, boasting 7 million users, unveiled the data at Money20/20 Europe in Amsterdam, showing that stablecoins now constitute 86% of its crypto volume as of April 2026—up dramatically from just 12% in July 2023. This surge underscores the growing utility of dollar-pegged tokens in corporate finance, moving beyond retail speculation.

The study found that 22.5% of businesses either currently use stablecoins for cross-border payments or intend to within the next year. B2B clients are the primary drivers, accounting for 97.8% of stablecoin volume from January to April 2026. Total stablecoin volume hit $2.81 billion in May 2026, with a 135% increase in the January-April period compared to the previous year. These figures align with broader industry trends, as Mastercard recently expanded its support for stablecoin settlements across multiple blockchains.

Five sectors lead the adoption wave: Digital Goods (21.4%), Virtual Assets Businesses (15.8%), Technology (15.1%), Retail and E-commerce (14.5%), and Financial Technology (11.6%). These industries often require fast, low-cost international payments, making stablecoins an attractive alternative to traditional banking rails.

Despite the clear benefits, the report reveals knowledge gaps that could hinder further adoption. For instance, 53% of respondents expect stablecoin transfers to settle instantly, while 47% anticipate settlement within one hour to one day. Similarly, opinions on fees vary widely: 33.3% expect costs around 3%, and 32% expect as low as 0.01%. In reality, stablecoin fees often remain below 1%. Paybis Co-Founder and CBDO Konstantins Vasilenko emphasized, ‘Stablecoins have moved from a crypto niche to business infrastructure.’ He noted that companies use them for faster cross-border settlements and treasury movements. ‘What’s missing is plumbing,’ Vasilenko added, explaining that Paybis provides a unified API for stablecoin payment flows, including dedicated IBANs and on/off-ramps under its licenses.

In a coordinated crackdown on Southeast Asian scam networks, Coinbase has frozen over $3 million in cryptocurrency as part of a broader U.S. Department of Justice operation. The exchange participated in the DOJ’s Scam Center Strike Force, targeting criminal groups involved in romance scams, investment fraud, and forced labor compounds.

Coinbase shared intelligence with Meta, Microsoft, Starlink, and global law enforcement agencies, emphasizing that no single entity can stop these scams alone. The company highlighted that social platforms, financial firms, internet providers, and police must collaborate to dismantle such networks.

Meta disabled more than 1.4 million accounts, pages, and groups across Facebook and Instagram, while Microsoft suspended around 20,000 fraudulent accounts linked to the scam operations. Starlink terminated connectivity for thousands of internet kits used for unlawful purposes. The Royal Thai Police arrested 63 individuals connected to these scams.

The operation leveraged blockchain tracking to follow stolen funds, with Coinbase noting that public blockchain records provide a transparent, immutable, and permanent transaction history, aiding investigators. This comes as crypto-linked investment scams, particularly pig butchering, remain a major threat to Americans.

The recent action follows a wider DOJ push that froze over $701 million in crypto and targeted more than 500 fake investment websites in April. Law enforcement agencies from the U.S., Thailand, Singapore, the UAE, Austria, Albania, and others have also moved against scam centers this year.

Coinbase’s freeze underscores the role exchanges play in fraud disruption, with the company pledging continued collaboration with public and private partners to block criminal funds and protect users.

Wyoming Governor Mark Gordon recently signed an executive order designed to steer the expansion of data centers and advanced computing in the state. Known as “Data Centers the Wyoming Way,” the order focuses on how state agencies should handle permitting, regulation, and support for large-scale projects while balancing water consumption, environmental impacts, workforce development, and household electricity costs.

This move places Wyoming at the center of a growing national competition to build infrastructure for artificial intelligence and the digital economy. Gordon emphasized that the state is in a strong position to lead as demand for advanced computing surges.

The timing is significant because major tech companies—Alphabet, Amazon, Meta, and Microsoft—are projected to spend around $650 billion on AI and data center infrastructure in 2026. That level of investment is driving pressure on power grids nationwide, and Wyoming aims to attract a share while implementing safeguards around resource use.

The order also intersects with the Bitcoin mining industry, which has already been active in Wyoming due to its energy resources, available land, and supportive digital asset regulations. CleanSpark, for example, secured power contracts and acquired its first mining site in the state in 2024, adding 30 megawatts of capacity initially and planning further expansion.

Beyond mining, many Bitcoin miners are diversifying into AI and high-performance computing hosting. Companies like IREN, MARA Holdings, Cipher Digital, Hut 8, HIVE Digital, and TeraWulf are now marketing their power access and data center capabilities for these purposes. Bernstein analysts have even started covering some miners as infrastructure firms rather than pure crypto producers.

Although the order does not explicitly target Bitcoin miners, it creates a framework that affects how all energy-intensive data operations compete for power and land. The rules may shape future approvals and how mining firms, AI companies, and data center developers interact in the state.

Bitcoin experienced a significant decline on Thursday, slipping below the $63,000 mark as selling pressure intensified across the cryptocurrency market. The leading digital asset tumbled to its lowest level since February, extending a sharp downtrend that began in May. The selloff was fueled by escalating geopolitical tensions between the United States and Iran, which dampened investor sentiment in risk-on assets. According to market observers, Bitcoin’s market capitalization has eroded by roughly $400 billion since mid-May, with over $1.6 billion in leveraged crypto positions liquidated within a 24-hour span.

The breakdown below key support levels at $72,000 and $68,000 left Bitcoin vulnerable to further downside. The price now hovers around the psychologically important $60,000 to $64,000 zone, a region that historically acted as demand. A failure to hold this area could open the door to deeper declines. Data from crypto.news shows Bitcoin was trading near $63,753 at press time, down nearly 5% on the day, with a session low of $61,557. The broader weekly decline has erased approximately 16% of Bitcoin’s value, with buyers yet to show signs of a decisive recovery.

The derivatives market added to the bearish narrative, as widespread liquidations amplified the spot selloff. Coinglass reported that over $1.6 billion in crypto-linked leveraged positions were forcibly closed in the past day. Such events occur when exchanges liquidate positions due to insufficient collateral, often exacerbating price declines. The liquidation wave coincided with a broader risk-off mood as U.S.-Iranian hostilities escalated, stalling ceasefire negotiations. This geopolitical uncertainty has weighed on assets from equities to cryptocurrencies.

Analysts are now eyeing potential support levels at $60,000, $55,000, and $50,000. Captain Faibik highlighted that Bitcoin is resting above a major eight-year trendline, noting that a successful defense and base-building by bulls could signal the start of another bullish phase. However, he cautioned about a possible liquidity grab in the $54,000 to $55,000 range before a sustained recovery. Ali Charts pointed to the MVRV pricing bands, suggesting the next strong support lies between $54,000 and $50,000. Ki Young Ju of CryptoQuant remarked that the current distribution phase resembles a massive handover, with the average cost basis for Bitcoin investors around $53,000. Historically, bear markets only ended after prices fell below the realized price, a level he thought would be hard to revisit given institutional inflows.

Technical indicators paint a bleak picture. The Relative Strength Index (RSI) sits at 18.69, deep in oversold territory, indicating extreme selling momentum. However, a reversal is not confirmed until RSI climbs back above 30, with a move above 50 signaling stronger buyer control. The gap between the current RSI and its moving average at 35.57 underscores the rapidity of the selloff. The Moving Average Convergence Divergence (MACD) remains bearish, with the MACD line at -2,917.77 below the signal line at -1,584.86, and a negative histogram of -1,332.92.

On-chain data reveals robust selling activity. Arab Chain reported that the Binance Cumulative Volume Delta (CVD) Confirmation Score reached 0.80, a four-month high, as Bitcoin traded in the mid-$60,000 range. CVD tracks the net balance between buying and selling volume, and a high reading during a price drop suggests that the selloff is backed by genuine volume, not just thin liquidity. This reduces the likelihood of a quick rebound. For Bitcoin to alleviate bearish pressure, it would need to reclaim $64,000 and then $68,700. A clean break below $60,000 could shift focus to $55,000 and $50,000 as the next major support levels.

A group of nine Democratic members of the U.S. House of Representatives has formally requested that the Federal Trade Commission examine the operations of online prediction market platforms. The lawmakers are concerned that these companies may be presenting conflicting information to consumers and regulators, potentially leading to deceptive practices.

The inquiry, spearheaded by Representatives Kevin Mullin and Gabe Vasquez, includes signatories Jared Huffman, Raul Ruiz, Salud Carbajal, Mike Levin, Dina Titus, Paul Tonko, and Valerie Foushee. In their letter to the FTC, they highlight that prediction market platforms often advertise using terms like legal betting or betting on sports without a sportsbook, while simultaneously describing their offerings as financial contracts in regulatory filings. This duality, they argue, could confuse users about the applicable consumer protections.

Prediction markets allow participants to trade contracts based on outcomes of events ranging from elections and sports to economic data and global conflicts. The request for an FTC probe follows heightened scrutiny of platforms such as Kalshi and Polymarket, particularly regarding insider trading. Recent reports indicate that Kalshi suspended three political candidates for trading on their own election races, and federal investigators have looked into trades linked to former Representative George Santos.

The industry has seen explosive growth in 2026, with transaction volumes exceeding 191 million in March alone and monthly trading reaching approximately $23.9 billion. Much of this activity is driven by political and geopolitical event contracts, while crypto-related contracts account for a smaller share. This expansion has sparked state-level disputes, as some regulators classify sports and election contracts as gambling, while platforms seek federal recognition as financial markets.

The lawmakers have asked the FTC to respond by June 29, requesting information on any complaints received about prediction markets and whether enforcement actions are planned. They also seek clarity on whether the agency considers public advertisements, court filings, and regulatory statements when evaluating deceptive practices. The FTC has not yet announced a formal case, but the letter underscores the growing debate over whether these platforms should be treated as financial instruments, gambling outlets, or both.

The prediction market platform Polymarket has officially closed the controversial market on whether Strategy would sell any Bitcoin by May 31, ruling in favor of the ‘No’ outcome after a final review by the UMA community. The decision was backed by 98.6% of the voting power, ending a lengthy dispute that had already seen two prior ‘No’ resolutions challenged by traders.

The conflict arose when Strategy disclosed in a June 1 regulatory filing that it had sold 32 BTC, worth about $2.5 million, between May 26 and May 31. This sale occurred before the market’s deadline, prompting traders who had bet ‘Yes’ to argue that the event had actually taken place within the specified timeframe. However, Polymarket had added a note to the market page days before the final review, stating that confirmations made outside the market’s period would not be considered valid. This clarification became central to the debate, with critics claiming it changed the rules after bets had been placed.

One prominent trader, 0xDinosaur, who held a large ‘Yes’ position, argued on social media that the contract language did not require public disclosure of the sale before the deadline. He acknowledged that his position was aggressive but insisted that the platform could not retroactively apply unwritten rules. Another trader, willo2, lost $500,000 after placing ‘Yes’ bets on June 1, alleging the market remained open even after information about the sale emerged. He argued that UMA voters were compelled to follow Polymarket’s rules, which had been altered to favor the ‘No’ outcome.

Beyond individual losses, the dispute has ignited broader discussions about how prediction markets should handle events that occur before a deadline but are only publicly confirmed afterward. Galaxy Research commented that the core issue is whether the original event-based rules or the post-trade clarification should prevail. The firm emphasized that prediction markets should focus on the actual occurrence of events rather than after-the-fact reinterpretations by oracles. It suggested that clearer listing criteria and deterministic resolution methods could prevent similar controversies in the future.