Author: NBTC

Garrett Jin, the founder of the now-defunct cryptocurrency exchange BitForex, has significantly increased his leveraged Bitcoin long position, according to on-chain data from Onchain Lens. Jin’s position now stands at 1,268 BTC, valued at approximately $94 million, with 5x leverage. The development raises fresh questions about the financial activities of an individual linked to one of the industry’s most notable fraud cases. A High-Stakes Bet on Bitcoin Onchain Lens reported that Jin entered the position at an average price of $76,117 per Bitcoin. His liquidation price is set at $51,580, meaning a drop of roughly 32% from current levels could…

Google and Blackstone are creating a standalone AI cloud company that will sell Google’s proprietary TPU chips to outside customers, with Blackstone contributing $5 billion in equity for a majority stake. Including leverage, the total investment reaches $25 billion, the Wall Street Journal reported. Benjamin Treynor Sloss, a longtime Google executive, will run the unnamed US venture as CEO. The company targets 500 megawatts of computing capacity by 2027 with plans to scale beyond that. Blackstone and Google have already identified data centers that will fold into the venture, some still under construction. Customers will be able to access TPUs…

Pump.fun, a Solana-based token launchpad, has transferred 91,708 $SOL—worth approximately $7.76 million—to the Kraken cryptocurrency exchange, according to on-chain analytics firm Onchain Lens. This transaction is part of a broader movement of funds today, bringing the total Solana sent to Kraken by the platform to 174,400 $SOL, valued at roughly $14.76 million. Details of the Transfer The latest transfer was detected by blockchain monitoring tools and reported by Onchain Lens via social media. The funds were moved from a wallet associated with Pump.fun to a Kraken deposit address. While the exact purpose of the transfer has not been officially disclosed…

The Federal Reserve published the latest version of its proposal to create a “skinny” master account, updating the proposal first published last December. In the same week, President Donald Trump signed an executive order directing the greater integration of digital assets with existing payment networks. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. The narrative U.S. President Donald Trump signed two executive orders this past Tuesday. One directed the broader government to update existing regulations to better integrate crypto into payment systems, while the…

Decentralized platform Hyperliquid is now competing with established betting platforms such as Polymarket, but with a differentiated mechanism for resolving bets. The leading decentralized exchange has expanded its HIP-4 outcome contracts beyond crypto price milestones into real-world events. This native prediction-market infrastructure allows users to trade macro contracts, such as inflation data and interest-rate decisions, directly alongside their standard crypto perpetuals out of a single account. Outcome markets mark a notable expansion for the decentralized derivatives venue, which built its business around crypto perpetual futures and initially tested the product using price‑outcome contracts settled against its own market data. Hyperliquid…

Bitcoin price started a fresh decline below the $75,500 zone. $BTC is consolidating and might struggle to stay above the $74,000 support. Bitcoin failed to stay above $76,000 and extended losses. The price is trading below $75,500 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance at $74,850 on the hourly chart of the $BTC/USD pair (data feed from Kraken). The pair might extend losses if it stays below the $75,000 and $75,500 levels. Bitcoin Price Dips Further Bitcoin price failed to stay above the $76,200 support zone. $BTC remained in a bearish…

While expectations are growing that the Fed will not cut interest rates this year, economists believe that the inflationary pressure triggered by rising energy prices following the Iran war will be temporary. According to a Reuters poll conducted between May 14-19, the majority of economists expect the Fed to keep its policy interest rate at current levels until 2026. Of the 101 economists surveyed, 83 predicted the federal funds rate would remain stable between 3.50% and 3.75% until the end of the third quarter. This was slightly more than half in last month’s poll. The survey results indicated a significant…

AMGI Studios recently announced the launch of its native token, HOOLI, for the My Pet Hooligan entertainment franchise, featuring an airdrop on May 18. Key Takeaways: AMGI Studios integrated the HOOLI token launch and May 18 airdrop into a 30-episode series finale. The My Pet Hooligan franchise surpassed 600,000 Epic Games Store downloads with this Web3 model. HOOLI holders will gain early access to upcoming AI integrations and expansions across major platforms. Token Utility and Ecosystem Integration Transmedia entertainment franchise My Pet Hooligan recently announced plans to launch its native token, HOOLI, tying the debut to the 30th episode and…

The US Securities and Exchange Commission has reportedly postponed its plan to allow trading of tokenized stocks after stock exchange officials raised concerns over how the plan would be implemented. Bloomberg reported on Friday, citing sources familiar with the matter, that the SEC’s “innovation exemption” for crypto-based stocks was expected to be released during the week, with SEC staffers having already reviewed a draft of the tokenized stock trading proposal. The SEC has reportedly received input from hundreds of market participants on how to best implement the rules, but it has not made a decision to change its proposal. Under…

Crypto exchange Binance is partnering with fintech company BlockShoals Technologies in what the platform described as its first formal market-entry approach in the Philippines, through local partnerships and regulatory engagement. On Tuesday, Binance announced the partnership, highlighting that BlockShoals is an approved participant under the Philippine Securities and Exchange Commission’s (SEC) Strategic Sandbox, or StratBox, framework. Binance said BlockShoals will serve as the approved local intermediary, while the exchange will provide technology, security, operational and compliance support. A Binance spokesperson told Cointelegraph that the company is pursuing a compliance-oriented market approach in collaboration with local stakeholders. “This represents Binance’s first…