Category: crypto

The crypto market lost $90.3 billion in value in an hour on May 16, with Bitcoin dropping to $77,678. PPI inflation data was 6% above forecast, ending rate-cut expectations and triggering a sell-off. BlackRock’s IBIT lost $136 million, while Bitcoin ETFs saw $290 million in outflows. 154,000 traders were liquidated, losing $696 million in the…

Visa and WeFi have partnered to pilot stablecoin-based payments in Europe, Asia, and Latin America. WeFi acts as an intermediary between DeFi and traditional payment systems, allowing self-custodied stablecoins to be used for everyday transactions. This collaboration expands Visa’s stablecoin program, aiming to integrate on-chain banking services into consumer financial products.

Visa partners with WeFi to pilot stablecoin-based payments and on-chain banking in Europe, Asia, and Latin America. WeFi acts as a bridge between DeFi and regulated payment systems. The collaboration aims to make self-custodied stablecoin balances usable with Visa. This expands Visa’s stablecoin program beyond back-end settlement to consumer-facing financial services.

Poland’s lower house has approved a cryptocurrency bill to align national regulations with the EU’s MiCA framework. The move comes after a multi-million dollar fraud investigation into local exchange Zondacrypto. The bill gives the Financial Supervision Authority clear powers over crypto service providers and introduces licensing and reporting obligations. President Nawrocki had previously vetoed similar…

Strategy is repurchasing $1.5 billion of its bonds with potential funding from Bitcoin sales. The firm plans to cancel the 2029 notes after settlement, leaving $1.5 billion outstanding. This move is part of a larger strategy to equitize the company’s $8.2 billion debt stack and reflects a significant shift in funding options.

Options contracts worth $2.6 billion across Bitcoin, Ethereum, XRP, and Solana expired on Deribit on May 15, leading to market liquidations. Around 25,000 Bitcoin options with a notional value exceeding $2 billion expired, triggering a drop in crypto prices. The expiry coincided with rising US Treasury yields and inflation data, adding to market pressure.

XRP Upbit volume surged to $330 million on May 15 after Hana Bank announced a $670 million Dunamu stake. This led XRP’s Korean won pair to outpace Bitcoin and Ethereum in trading volume. The deal gives Hana Bank a 6.55% stake in Dunamu and strengthens South Korea’s XRP presence.

OpenAI is considering legal action against Apple due to disappointment over the integration of ChatGPT into Siri, which has not met expectations for subscriber growth and revenue. Apple does not pay OpenAI a direct licensing fee, leading to a potential breach of contract dispute. The disagreement highlights the struggle between AI providers and platforms over…

Flare Network’s FLR token rose 14% after the FAssets v1.3 upgrade enabled one-click XRP-to-FXRP minting. Hyperliquid’s HYPE gained 16% with a new ETF, while Unibase’s UB added 11%. Bitcoin stayed below its 200-day moving average. Flare’s tokenomics overhaul reduced inflation and introduced MEV capture, signaling bullish prospects.

US Treasury yields reached 12-month highs on May 15, impacting Bitcoin’s price. The 10-year yield hit 4.5% after the Clarity Act committee vote. April CPI data showed inflation at 3.8%, reversing expectations of rate cuts. Bitcoin struggled to surpass $82,000 and remains below its 200-day moving average due to the rising yields.