Kevin Warsh was sworn in as Fed chair on Friday as Bitcoin trades near $77,400.

Kevin Warsh was sworn in as the 17th Federal Reserve chair at a White House ceremony on Friday, becoming the first Fed leader to take the oath at the executive mansion since Alan Greenspan in 1987. Supreme Court Justice Clarence Thomas administered the oath.

Warsh, 56, succeeds Jerome Powell, who held the position since 2018 and will remain on the Fed board as a governor until 2028. The Senate had confirmed Warsh on May 13 in a narrow 54-45 vote, with Democratic Senator John Fetterman as the only crossover.

What Warsh’s arrival means for crypto markets

“Our mandate at the Fed is to promote price stability and maximum employment,” Warsh said after being sworn in. “When we pursue those aims with wisdom and clarity, independence and resolve, inflation can be lower, growth stronger, real take-home pay higher.”

Warsh pledged to lead a “reform-oriented Federal Reserve” and vowed he would never predetermine interest rates at any elected official’s request. President Trump, who had repeatedly attacked Powell over rate policy, told attendees he wants Warsh to be “totally independent.”

Bitcoin (BTC) held near $77,400 during Friday’s session, largely unchanged. Markets have been pricing in the leadership transition for weeks, with traders focused on Warsh’s first FOMC meeting scheduled for June 17.

The chair of the U.S. House of Representatives’ Oversight and Government Reform Committee has escalated congressional scrutiny of prediction-market platforms by directing letters to the chief executives of Kalshi and Polymarket. The inquiries request internal records and governance details about how the platforms monitor and mitigate insider trading, underscoring growing congressional concern that public officials and private operators could leverage privileged information for financial gain.

In a Friday post on X, Committee Chair James Comer confirmed that he had sent correspondence to Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour. Comer’s remarks highlighted unresolved questions about whether elected officials are using “basic insider knowledge” to profit from government actions, raising the stakes for platforms that run event- and futures-like markets on real-world political and geopolitical events.

“More than 80 suspiciously timed trades were placed ahead of Iran military operations,” Comer stated. “Politicians and government officials with inside information are placing bets and taking profits. This insider trading must end.”

The focus on insider trading aligns with broader regulatory and enforcement themes surrounding crypto-enabled markets and the governance frameworks that govern them. A May 13 report by the New York Times detailed incidents in which users allegedly bet on events such as Israel–Iran hostilities, U.S. political developments, and other highly sensitive events, laying out concrete examples cited by policymakers as illustrative of the risks of unregulated predictive markets.

Polymarket said in March that it had updated its approach to potential insider trading, while Kalshi announced in April that it had banned three U.S. politicians from wagering on elections in which they were candidates. The two platforms have repeatedly defended their compliance programs and risk controls, but observers note that policy changes alone may not fully address the concerns raised by lawmakers. Cointelegraph has reached out to both companies for comment, but no immediate statements were provided.

The case is not limited to policy scrutiny. In April, the U.S. Department of Justice indicted Master Sergeant Gannon Ken Van Dyke in connection with an operation that led to the capture of Venezuelan President Nicolás Maduro. Prosecutors allege that Van Dyke leveraged Polymarket event contracts tied to Maduro’s status to generate more than $400,000 in profits using classified information. Van Dyke pleaded not guilty and remains subject to bail conditions as the legal proceedings proceed. This enforcement action underscores how tied-breaking information and public events can intersect with crypto-enabled markets and raises questions about the adequacy of existing safeguards in high-risk scenarios.

Key takeaways

• The U.S. House Oversight Committee has sought internal records from Kalshi and Polymarket to assess how the platforms handle insider trading and the role of governance controls in preventing abuse.
• Public officials and insiders are implicated in alleged “suspiciously timed” trades tied to geopolitical and political events, prompting congressional concerns about market integrity and misuse of privileged information.
• Polymarket and Kalshi have separately updated their internal policies: Polymarket refined its approach to potential insider trading, and Kalshi banned several U.S. politicians from betting on their own contests, signaling a move toward stricter governance standards.
• The inquiry sits within a broader regulatory backdrop that includes potential SEC/CFTC oversight, cross-border considerations, and ongoing AML/KYC/compliance expectations for crypto-enabled markets linked to real-world events.
• Separately, a DOJ prosecution involving an individual tied to Polymarket activity illustrates the potential for criminal enforcement when classified or privileged information is used for personal financial gain.

Congressional inquiry and the regulatory horizon for prediction markets

The letters sent by Comer signal a growing preference among lawmakers for transparency around the governance mechanisms that govern prediction-market platforms. By requesting internal records, Congress appears intent on understanding how these platforms screen for insider information, detect anomalous trading patterns, and enforce internal policies designed to deter misuse. The actions also reflect an ongoing effort to map how such platforms fit within the U.S. regulatory landscape, including considerations around licensing, anti-money-laundering controls, and consumer protections for institutional users.

From a policy perspective, the development matters because it could influence how prediction markets are treated under U.S. law. If regulators determine that these platforms operate in a manner that meaningfully facilitates insider trading or market manipulation, it could accelerate calls for stricter licensing regimes, enhanced surveillance requirements, or even limitations on the types of events that can be traded. The episodes cited by Comer—and the subsequent enforcement actions in related cases—may feed into ongoing regulatory dialogues about the boundaries between financial markets, gambling-like platforms, and information-sensitive operations.

Analysts note that the regulatory trajectory for crypto-enabled prediction markets remains unsettled. While some jurisdictions are moving toward frameworks akin to MiCA in Europe, others in the United States are weighing how existing securities and commodities laws apply to event contracts and related instruments. Insurers, banks, and institutional investors operating in this space are particularly sensitive to any shift that might affect licensing requirements, cross-border activity, or enforcement risk. The Letters to Kalshi and Polymarket therefore matter not only for the platforms but for their users, counterparties, and the broader ecosystem that relies on transparent governance and credible compliance programs.

Platform governance actions and compliance implications

Polymarket and Kalshi have taken discrete steps to address governance gaps and perceived risks. Polymarket’s policy updates, announced earlier in the year, aimed to tighten monitoring of privileged or insider information that could influence contract outcomes. Kalshi’s April action to ban certain U.S. politicians from betting on their own races represents a governance posture aimed at reducing conflicts of interest and preserving market integrity. While these steps are notable, they may not suffice in the eyes of lawmakers without comprehensive documentation of internal processes, data analytics capabilities, and independent oversight mechanisms.

For compliance teams and financial institutions engaging with prediction markets or similar instruments, the development underscores several practical considerations. First, robust trade surveillance is essential, including real-time monitoring for suspicious timing patterns around high-saliency events. Second, formal governance frameworks should be in place to govern who may participate, what events can be traded, and how conflicts of interest are mitigated. Third, clear incident-response protocols and audit trails are critical for demonstrating due diligence in regulatory examinations or potential enforcement actions. Finally, cross-border compliance implications, including alignment with AML/KYC standards and licensing regimes, become central when platforms operate beyond a single jurisdiction or handle material cross-border information flows.

These factors are particularly salient for institutional users and licensed financial entities that rely on predictable governance and enforceable controls to satisfy regulatory expectations. The ongoing congressional inquiry could catalyze enhanced disclosure requirements, more prescriptive policy standards, or even a recalibration of how such markets are integrated into the broader financial regulatory framework.

Enforcement signals and the broader market context

The DOJ’s case involving a U.S. service member’s alleged use of Polymarket data to gain more than $400,000 further highlights the legal risk landscape for participants and operators. While prosecutors framed the charges around commodities fraud and illicit use of confidential government information, the broader takeaway for the ecosystem is clear: authorities are increasingly scrutinizing the interaction between government action, sensitive information, and crypto-enabled prediction markets. Institutions must therefore incorporate tighter access controls, robust information barriers, and comprehensive training to minimize risk exposure and ensure adherence to applicable laws.

Regulators have long stressed the importance of compliance programs that incorporate AML/KYC protocols, identity verification, and transaction monitoring. As prediction markets intersect with political and military events—areas historically treated as sensitive—policymakers are likely to seek greater clarity on how platform operators classify and manage risk. The current developments thus fit into a broader historical arc of enhanced oversight of new market structures that blend information flows with financial instruments.

Closing perspective

As Congress requests internal governance data and platforms adjust their policies in response, the trajectory of regulatory oversight for prediction markets remains in focus. The coming months are likely to reveal the balance lawmakers strike between fostering innovation and ensuring market integrity, with compliance teams watching closely for any new licensing, reporting, or enforcement expectations that could reshape how these markets operate in the United States and beyond.

Key points:

• Bitcoin has dipped below $77,000, signaling that the bears are poised to seize control.
• Altcoins are a mixed bag, with some attempting to push through the overhead resistance while others struggle to hold on to the support.

Bitcoin (BTC) has dipped below $77,000, indicating that the bears are attempting to seize control. Glassnode said the true market mean at $78,300 has historically acted as a dividing line between bear and bull market regimes. If the price breaks sharply below the level, it suggests that the recent rally may have been a “local top within the ongoing bear market.”

Institutional investors seem to be selling, as evidenced by the sharp decline in the Coinbase premium over the past few days. LVRG research director Nick Ruck told Cointelegraph that the decline of the Coinbase premium signals selling from large holders, which “could weigh on near-term price momentum across major crypto assets.”

Crypto market data daily view. Source: TradingView

What is the crucial level that suggests the bulls are back in command? Independent analyst Filbfilb said in a post on X that the previous two bear markets had ended after “a >+20% weekly candle and a break of the weekly super trend.” If the current bear trend has to fail, BTC has to rise above the super trend level at $88,000.

Could BTC and select major altcoins hold on to their strong support levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

BTC turned down at the 20-day exponential moving average ($78,280), suggesting the bears are attempting to take charge.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The $76,000 level is the critical support to watch on the downside, as a close below it would signal an advantage to the bears. That increases the risk of a drop to the support line, which is likely to attract buyers.

Time is running out for the bulls. They will have to push and maintain the BTC price above the 20-day EMA to gain the upper hand. If they do that, the BTC/USDT pair may begin its journey toward $82,000 and eventually reach the crucial $84,000 level.

Ether price prediction

Sellers are attempting to retain Ether (ETH) below the support line, but the bulls have kept up the pressure.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The bulls will have to drive the ETH price above the moving averages to signal a comeback. If they do that, it suggests that the break below the support line may have been a bear trap. The ETH/USDT pair may climb to $2,465 and then to the resistance line of the ascending channel pattern.

Contrary to this assumption, if the price declines from the current level or the 20-day EMA and breaks below $2,077, it would signal that the bears remain in control. That may sink the pair to the $1,916 support.

BNB price prediction

BNB (BNB) rose above the 20-day EMA ($650) on Wednesday, and the bulls are attempting to push the price to $687.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will attempt to defend the $687 resistance, but if the bulls prevail, the BNB/USDT pair may march toward $730 and then $790. Such a move suggests that the pair may have bottomed out at $570.

The bears are likely to have other plans. They will attempt to defend the overhead resistance and pull the BNB price below the 50-day simple moving average ($631). If they succeed, the pair may extend its stay within the $570 to $687 range for a while longer.

XRP price prediction

XRP (XRP) remains below the moving averages, indicating that the bears are in no mood to let go of their advantage. 

XRP/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will attempt to strengthen their position by pushing the XRP price below the $1.27 support level. If they manage to do so, the XRP/USDT pair may plummet to $1.11, where buyers are expected to step in.

The first sign of strength will be a close above the downtrend line. The pair may then ascend to $1.61, a crucial level to watch. If buyers overcome the barrier, the pair may surge toward $2.40.

Solana price prediction

Solana’s (SOL) relief rally reached the 20-day EMA ($87.83), where the bears are expected to pose a strong challenge.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

If buyers propel the SOL price above the 20-day EMA, it suggests demand at lower levels. The SOL/USDT pair may then climb to the $98 overhead resistance. A close above $98 signals the start of a new up move toward $117.

On the contrary, if the price declines sharply from the 20-day EMA and breaks below $82.65, it suggests the bears remain in control. The pair may then tumble to the $76 support.

Dogecoin price prediction

Dogecoin (DOGE) turned up from the 50-day SMA ($0.10) on Wednesday, but the relief rally is facing resistance at the 20-day EMA ($0.11).

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If buyers pierce the 20-day EMA, the DOGE/USDT pair may rise to the $0.12 overhead resistance. Sellers are expected to defend the $0.12 level, as a close above it would signal a short-term trend change. The DOGE price may then soar to $0.14 and later to $0.16.

The 50-day SMA is the critical support to watch on the downside, as a break below it could sink the pair to the $0.09 level.

Hyperliquid price prediction

Hyperliquid (HYPE) continued its uptrend, skyrocketing to a new all-time high of $62.65 on Thursday.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

Sellers are fiercely defending the $59.41 level, as they have not allowed the bulls to close above it. The first support on the downside is the 38.2% Fibonacci retracement level of $53.29. If the HYPE price rebounds off the $53.29 level with strength, the bulls will again attempt to resume the uptrend. A close above $62.65 opens the door to a rally toward $77.

Alternatively, a close below the $53.29 level suggests that the short-term traders are booking profits. The HYPE/USDT pair may then tumble to the 50% retracement level of $50.41 and then the 20-day EMA ($46.97). The deeper the fall, the longer the time needed for the resumption of the uptrend.

Related: XRP adds 4,300 new wallets in 24 hours, but why is price stuck?

Cardano price prediction

Cardano (ADA) has been trading just below its moving averages, suggesting the bulls have not given up.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

A break and close above the 20-day EMA ($0.25) opens the doors for a recovery to $0.29 and, after that, to $0.31. Buyers will have to clear the $0.31 hurdle to signal the start of a new up move.

Instead, if the ADA price turns down from the moving averages, it suggests that the bears remain in control. There is support at $0.24, but if the level breaks down, the ADA/USDT pair may slump to the bottom of the $0.22 to $0.31 range.

Zcash price prediction

Zcash (ZEC) pole vaulted above the $643 resistance on Wednesday, but the bulls are struggling to sustain the higher levels.

ZEC/USDT daily chart. Source: Cointelegraph/TradingView

The relative strength index is forming a negative divergence, indicating that the bullish momentum is weakening. If the ZEC price closes below the $643 level, it signals the possibility of a deeper correction toward the 20-day EMA ($547).

If the ZEC/USDT pair turns up from the current level or the 20-day EMA, it indicates that the uptrend remains intact. The bulls will then make one more attempt to clear the $690 level, clearing the path for a rally to the $750 resistance.

Bitcoin Cash price prediction

Bitcoin Cash (BCH) has risen above the breakdown level of $375, but the rebound lacks strength. 

BCH/USDT daily chart. Source: Cointelegraph/TradingView

The relief rally is expected to face selling at the 38.2% Fibonacci retracement level of $393 and then at the 20-day EMA ($414). If BCH price declines from $393, the risk of a break below $348 increases. The BCH/USDT pair may then resume the downtrend and plunge to $300.

This negative view will be invalidated in the near term if buyers drive and maintain the price above the 20-day EMA.

The U.S. Congress is intensifying its scrutiny of prediction-market platforms Polymarket and Kalshi, demanding internal records to understand how each platform handles insider trading. The move comes after public disclosures and media reports suggested traders might be using nonpublic information tied to government actions to place bets.

In a post on X, Rep. James Comer, chair of the House Oversight and Reform Committee, said he had sent letters to Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour, requesting internal documents that detail the firms’ procedures for detecting and mitigating insider trading. Comer warned that lawmakers are concerned about elected officials leveraging “basic insider knowledge” to profit from government actions, a practice he described as unacceptable.

Comer cited reports of more than 80 suspicious trades that appeared to be timed ahead of Iran-related military operations, a finding he linked to concerns that politicians and other officials with access to nonpublic information could place favorable bets and cash out. The reference traces to a New York Times article published May 13, which detailed bets surrounding Israel’s actions in the Iran conflict, a Trump ceasefire announcement, and other event contracts tied to U.S. politics. The Times report underscored how market activity can reflect sensitive real-world developments before they unfold.

Both Polymarket and Kalshi have faced ongoing scrutiny over insider-trading risks. Polymarket said in March that it had updated its approach to potential insider trading on the platform, while Kalshi announced in April that it had banned three U.S. politicians from wagering on their own races. The developments come as investors and users weigh how these markets should be regulated and safeguarded against abuse. Cointelegraph reached out to Polymarket and Kalshi for comment but did not receive an immediate response.

Key takeaways

• House Oversight Committee Chair James Comer says he has sent formal requests to Polymarket and Kalshi for internal records on handling insider trading, signaling intensified congressional oversight.
• A New York Times report cited by Comer details at least 80 suspicious trades timed around Iran-related military actions and other political events, highlighting potential insider-fueled profits.
• Polymarket and Kalshi have each introduced policy responses—Polymarket updating its approach to insider trading and Kalshi banning several U.S. politicians from certain bets—indicating industry reform under pressure.
• Separately, a U.S. Justice Department indictment connects a military figure to profits from Polymarket contracts tied to Maduro’s capture, illustrating potential national-security risks linked to these markets.

Congressional inquiry and industry response

The letters from Rep. Comer reflect a broader concern in Congress about whether prediction markets—designed to aggregate information and forecast outcomes—could be hijacked by insiders with government access. Comer’s public statements emphasize that lawmakers view insider trading as a threat to market integrity and a potential conflict of interest for public officials.

Beyond the committee’s actions, the media narrative points to concrete episodes in which insiders might have exploited timely, sensitive information. The Times report described bets around Israel’s military actions against Iran, a ceasefire announcement from the U.S. government, and other events that could plausibly be influenced by nonpublic information. While such events attract broad attention, the question remains: do current platform safeguards suffice to deter misuse, and how should regulators weigh further requirements?

Polymarket has acknowledged certain limitations and responded by updating its governance around potential insider trading. Kalshi has taken a different route by restricting participation of specific U.S. officials in bets related to their roles, action that signals a willingness to enforce stricter rules even as it navigates regulatory expectations for-compliant markets. As these platforms adjust, investors and users should monitor not only policy shifts but also how responsive the platforms are to inquiries from Congress and the public.

Linkage to broader legal cases and implications for users

Meanwhile, a parallel case involving Polymarket intersects with national security considerations. In April, the U.S. Department of Justice announced a criminal indictment against Master Sergeant Gannon Ken Van Dyke, a servicemember involved in the operation to capture Venezuelan President Nicolás Maduro. Prosecutors alleged that Van Dyke used Polymarket event contracts tied to Maduro’s capture to profit by more than $400,000 by relying on classified information. Van Dyke has pleaded not guilty to charges that include commodities fraud and unlawful use of confidential government information for personal gain. He was released on $250,000 bail and restricted to travel among North Carolina, California, and New York while the case proceeds. The charges and the related market activity underscore how insiders in and around government actions can intersect with digital prediction markets in ways that raise both legal and ethical questions for participants, platforms, and observers alike.

These developments come as the market for event-based contracts continues to evolve, with ongoing debates about what constitutes acceptable use, how to detect manipulation, and what safeguards are necessary to protect users and the integrity of the markets. The DoJ matter, in particular, highlights a potential warning sign for participants: even intra-government or government-linked actors may see opportunities in these markets, complicating the assessment of risk and reward for ordinary users.

What to watch next

As Congress seeks more transparency, expect continued inquiries into how Kalshi and Polymarket monitor for insider trading, what internal controls exist, and what remedies are in place when anomalies are detected. Watch for any formal regulatory guidance or updated compliance requirements that emerge from both congressional action and platform responses. The interplay between national-security concerns, market integrity, and user trust will shape how these platforms evolve and how investors approach prediction-market participation in the coming months.

The evolving story — including any formal responses from Polymarket and Kalshi and the progression of the Van Dyke case — will illuminate whether the market’s promise as a tool for price discovery and information aggregation can be preserved in a landscape increasingly scrutinized by policymakers and law enforcement. For readers, the key remains: how robust are the safeguards, and who bears the burden when safeguards fail?

Strategy continued expanding its Bitcoin exposure this week through STRC perpetual preferred shares and MSTR stock activity. However, company executives also reduced personal holdings through recent stock sales filed with the U.S. Securities and Exchange Commission. Meanwhile, MSTR stock extended weekly losses as Bitcoin prices remained under pressure across broader crypto markets.

Strategy Executives Reduce Shareholdings

Strategy chief financial officer Andrew Kang disclosed several stock transactions through recent SEC filings this week. Kang received 12,500 MSTR shares after restricted stock units vested under company compensation agreements. He sold 5,597 shares one day later to satisfy tax withholding requirements tied to the vesting event.

The transactions carried a combined value of about $927,866 based on filing disclosures. The reported sale prices ranged between $163.98 and $166.00 per share during the trading sessions. Meanwhile, Kang still controls roughly 33,675 MSTR shares alongside several preferred stock positions connected to Strategy.

SEC filings also showed additional sales from Kang during the previous three months. The filings listed earlier disposals totaling 916 shares and another 2,373 shares before this week’s transactions. Consequently, market participants linked the continued selling activity with pressure surrounding Strategy’s recent stock performance.

Strategy director Jarrod Patten also reduced his exposure through several recent share sales. Patten sold 5,250 MSTR shares during the last few trading sessions, according to regulatory disclosures. Following the transactions, Patten retained direct ownership of 28,000 Class A common shares.

Patten continues to hold several Series A perpetual preferred stock positions tied to the company. Besides executive sales, broader market weakness added pressure on Strategy shares throughout the week. Analysts also noted concerns surrounding continued share dilution connected to Strategy’s Bitcoin acquisition model.

Strategy has repeatedly used equity offerings and preferred shares to finance additional Bitcoin purchases. The company remains one of the largest corporate holders of Bitcoin despite prolonged volatility across crypto markets. However, continued financing activity has increased concerns surrounding dilution among market participants.

MSTR Stock Extends Weekly Decline

MSTR stock closed 0.58% lower on Thursday as weakness spread across both equity and crypto markets. The stock finished the session at $164.85 after trading between $162.40 and $168.71 intraday. Trading volume also remained below the average daily level of approximately 18 million shares.

Premarket trading showed additional weakness as MSTR slipped another 0.20% before Friday’s opening bell. The stock has now declined more than 9% during the last trading week. However, MSTR still holds a gain of roughly 5% since the beginning of the year.

The stock remains significantly lower on a yearly basis despite earlier rallies connected to Bitcoin strength. MSTR has fallen almost 58% over the past twelve months, according to recent market data. Consequently, traders continued reacting to broader pressure affecting both technology stocks and digital assets.

Several Wall Street firms maintained positive long-term targets despite the recent weakness in Strategy shares. TD Cowen retained its buy rating and increased its MSTR price target to $400 this week. Meanwhile, Bernstein analyst Gautam Chhugani maintained a separate 12-month target price of $450.

Bitcoin prices also remained under pressure during Friday trading across global crypto exchanges. Bitcoin traded near $77,384 after moving between $76,655 and $78,004 during the previous 24 hours. Options market data also indicated expectations for a potential decline toward the $75,000 level amid ongoing macroeconomic and geopolitical pressure.

NEAR Protocol (NEAR) displayed strength on Friday, rising 34% over the last 24 hours to $2.32, leading artificial intelligence-based tokens in a rally fueled by NEAR’s network upgrades and NVIDIA’s bullish revenue forecast. 

NEAR is trading 50% higher than its price seven days ago and has gained a whopping 115% over the last 90 days.

Key takeaways:

• NEAR price surged 50% in seven days, hitting six-month highs as AI crypto tokens rallied on strong market momentum.
• NEAR Protocol upgrades focused on AI, privacy and scaling boosted investor confidence and trading volume above $1 billion.
• A breakout from a multi-year wedge pattern puts $5.75 in focus if NEAR clears resistance between $2.60 and $3.

NEAR price rallies to six-month highs

Data from TradingView shows that NEAR’s recovery began on Monday, rising 58% to a six-month high of $2.34 on Friday from a low of $1.48. 

Accompanying NEAR’s price growth is an uptick in its trading volume, which has increased by 190% to $1.15 billion over the last 24 hours, reinforcing the intensity of the buyers.

NEAR/USD daily chart. Source: Cointelegraph/TradingView

The altcoin’s jump above $2.30 triggered over $9.85 million in short liquidations, as those betting against the price were caught off guard.

The gains come after NEAR Protocol announced of major upgrades focused on privacy, AI integration, and network scaling.

Source: X/NEAR Protocol

Aurora, the Ethereum-compatible scaling solution built on NEAR, also announced the update of its Aurora Intents Widget. The update integrated ADI Chain as a new entry point, enabling smoother cross-chain swaps, deposits, and application flows for users.

Source: Aurora

These developments demonstrate ongoing technical progress within the NEAR Protocol ecosystem, potentially increasing demand for blockspace and the NEAR token.

NEAR price rallies as AI tokens recover

NEAR is not the only AI-themed token outperforming the crypto market today. Other cryptocurrencies in the AI sector have witnessed impressive 24-hour gains, including Grass (GRASS), OpenServe (SERVE) and Artificial Superintelligence Alliance (FET), which have gained over 27%, 21% and 11% over the day, respectively.

Performance of top AI tokens by market capitalization. Source: CoinMarketCap

Notably, the surge in AI tokens has also been accompanied by an increase in their total market value. The market capitalization of AI and big data crypto projects and tokens has risen by 8% over the past 24 hours to $21.44 billion at the time of publication, reflecting renewed investor confidence in the sector.

Market capitalization and volume of AI and big data tokens market. Source: CoinMarketCap

Broader sector momentum was fueled by positive signals from Nvidia’s AI dominance and revenue forecasts. Nvidia, which maintains an 81–90% share of the AI accelerator market,  reported massive profits of approximately $81.6 billion in Q1 2026 and raised its projected revenue opportunity through 2027 to $1 trillion.

Source: X/Cointelegraph

Historically, Nvidia events have triggered strong rallies in NEAR price, as seen in February when the altcoin soared 58% following the company’s Q4 2025 earnings report. 

How high can NEAR price go?

NEAR’s latest rally saw it break out of a multi-year falling wedge that has capped the price since late 2024.

The NEAR/USD pair now faces stiff resistance at the $2.60-$3.0 supply zone, where major moving averages sit, as shown on the weekly chart below.

A break above this level would clear the path toward the measured target of the wedge at $5.75, roughly 160% above the current price. The relative strength index has increased to 63, indicating increasing upward momentum.

NEAR/USD weekly chart. Source: Cointelegraph/TradingView

In an X post on Tuesday, MN Capital founder Michael van de Poppe said NEAR is displaying “one of the most bullish charts” in the market, adding that a continuation was in the cards as long as it held $1.40 as support.

“The first real resistance zones for $NEAR are at $2 and $2.25-$2.50,” Van de Poppe said in a follow-up post on Thursday, adding “it’s clearly trending higher,” with the next target near $2.75.

NEAR/USD daily chart. Source: X/Michael van de Poppe

Chun Wang, the Chinese-born Maltese-Kittitian crypto investor who co-founded F2Pool, has been named Mission Commander for SpaceX’s first commercial human spaceflight interplanetary mission to Mars, crucial to Elon Musk’s plans to send one million people to the Red Planet.

Wang, whose mining pool controls roughly 11.3% of the global Bitcoin network hashrate and whose personal bitcoin assets are estimated to exceed $300 million, will take a two-year leave from his current role securing digital ledgers to leading humanity’s next frontier in deep space.

The SpaceX announcement comes as the company owner Elon Musk’s aggressive plans to colonize the Red Planet and establish a multi-planetary civilization continue to accelerate.

A two-year trek into the unknown

The ambitious, multi-phase timeline will take Wang on a a week-long circumlunar fly-by within approximately 125 miles of the moon’s surface alongside Dennis and Akiko Tito before launching on the historic Martian trajectory.

Target launch windows are currently driving technical preparations for a planned 2026 departure. Once launched, the crew will spend two consecutive years in space. The deep-space itinerary includes a full external exploration of the Earth-Moon system, a high-altitude fly-by of Mars, and a complex return trajectory back to Earth.

Navigating deep-space risks

Operating in deep space for 24 months introduces severe operational risks, including severe hardware fatigue and the volatile thermodynamics of managing cryogenic fuel during extended coasts in deep space.

To mitigate these hazards, SpaceX is debuting its next-generation Starship V3 architecture. The upgraded vehicle features vacuum-jacketed header feed lines, high-voltage cryogenic recirculation systems, and 60 integrated custom avionics units capable of handling distributed fault isolation up to 9MW of peak power.

The crew will faces acute biomedical dangers when gathering critical diagnostic telemetry. One of Wang’s team key tasks is performing advanced behavioral health tracking and capturing the first-ever human X-ray images in microgravity to evaluate long-duration physiological deterioration.

The path to a multi-planetary future

Wang’s mission is designed to deliver the crucial operational data required to transition Mars exploration from short-term novelties to permanent, self-sustaining habitats.

The data crew is expected to return to Earth, which will directly stress-test Starship’s autonomous navigation matrix, deep-space radiation shielding, and in-space propellant transfer mechanisms.

The SpaceX team’s findings will be vital to achieving Musk’s ultimate objective: verifying rapid vehicle reuse and validating the logistical baseline required to safely transport millions of tons of cargo and eventually a million citizens to the Martian surface.

The journey to Mars announcement comes as SpaceX, the satellite and space rocket company, confidentially filed for its public offering targeting a valuation upwards of $1.75 trillion, the largest in history. It also comes as Musk’s company officially revealed, for the first time, its bitcoin holdings, totaling 8,285 BTC.

TLDR

• Trump Media transferred 2,650 bitcoin worth about $205 million to Crypto.com.
• The transaction took place during late U.S. evening hours based on blockchain data.
• Trump Media originally purchased 11,542 BTC for about $1.37 billion at a higher average price.
• Bitcoin currently trades well below the company’s acquisition cost, leading to large unrealized losses.
• The company now faces an estimated $455 million loss on its bitcoin holdings.

Trump Media has transferred 2,650 Bitcoin worth about $205 million to Crypto.com. The move adds pressure on its crypto strategy as losses deepen. Trump Media now faces an estimated $455 million unrealized loss on its bitcoin holdings.

The transaction occurred late in U.S. evening hours, according to blockchain data. Analytics firm Lookonchain reported the transfer publicly.

Trump Media Bitcoin Transfer Raises Pressure on Crypto Strategy

The latest transfer involved 2,650 BTC moved to Crypto.com. Bitcoin traded near $77,341 during the transaction window.

Trump Media previously moved 2,000 BTC four months earlier. That earlier transfer was valued at about $175 million.

The company originally bought 11,542 BTC for about $1.37 billion. Its average purchase price stood at $118,522 per bitcoin.

Bitcoin now trades well below that acquisition level. This gap has led to a large unrealized loss.

Based on current prices, losses total around $455 million. The figure reflects the difference between purchase and market value.

Blockchain records confirm the timing and destination of the transfer. Lookonchain shared the data through a public update.

Financial Strain and ETF Withdrawal Follow Crypto Moves

The transfer comes days after Trump Media withdrew its spot bitcoin ETF application. Analysts said economics, not regulation, likely drove the decision.

ETF analysts stated the sector has seen weaker returns recently. They suggested profitability concerns influenced the withdrawal.

Trump Media has not issued a detailed statement on the ETF move. The company has also not clarified the purpose of the Bitcoin transfers.

Financial results show mounting pressure on the business. The company reported a first-quarter net loss of $405.9 million.

Revenue for the same quarter totaled just $871,200. That compares with a $31.7 million loss in the prior year period.

The widening loss reflects increased costs and investment exposure. Crypto holdings appear to contribute to financial volatility.

The company continues to hold a large bitcoin position despite recent transfers. Remaining holdings still exceed several thousand BTC.

Bitcoin price have remained below the firm’s average purchase level. This has kept unrealized losses elevated.

The latest blockchain transaction marks the most recent update in Trump Media’s crypto activity. No further transfers have been confirmed since the reported move.

Tanya Denisova, chief operating officer of Robinhood Crypto, is leaving the firm, according to two people with knowledge of the matter.

Denisova had been employed by the popular trading platform for over five years, according to her LinkedIn profile.

Neither Robinhood nor Denisova responded to requests for comments.

The departure comes amid Robinhood missing its first-quarter earnings and revenue estimates, mainly due to weaker crypto trading activities. Crypto-related revenue, one of Robinhood’s biggest sources of transaction income, fell 47% year over year to $134 million, down from $252 million. The drop comes as the company works to reduce its reliance on crypto market swings and reposition the business beyond price-cycle volatility.

Robinhood enables users to trade stocks, exchange-traded funds (ETFs), options, and cryptocurrencies through a mobile-first app. The company also offers retirement accounts, cash management services, and market insights designed to simplify investing and broaden access to financial markets.

The firm has expanded its presence in crypto by offering commission-free trading for major digital assets, including bitcoin BTC$75,716.87, ether (ETH), solana (SOL), and DOGE$0.1050, directly within its app.

The company also provides crypto wallets, onchain transfers, staking services in select markets, and educational tools aimed at newer investors. As part of its broader strategy to bridge traditional finance and digital assets, Robinhood has continued to grow its crypto offerings internationally while positioning itself as a simple, low-cost entry point into the crypto market

Read more: Robinhood stock falls 8% after big earnings miss due to weak crypto trading revenue