Hong Kong authorities plan to introduce new licensing rules for virtual asset advisory and management service providers as the city expands oversight of its digital asset market.

The Financial Services and the Treasury Bureau and the Securities and Futures Commission (SFC) published consultation conclusions on Tuesday. The paper covers proposed rules for firms that give virtual asset investment advice or manage virtual asset portfolios. The SFC said the consultation followed an earlier paper launched on December 24, 2025.

Hong Kong expands virtual asset rules

The proposed framework would bring virtual asset advisory and management services under formal licensing. The move would extend regulation beyond trading platforms, custody services, and stablecoin issuers.

Authorities said the proposal received broad support from the market. The consultation drew 51 submissions from market participants, industry groups, chambers of commerce, and professional bodies.

The new rules will follow the principle of “same business, same risks, same rules.” Under that model, virtual asset advisory services will align with Type 4 regulated activity under the Securities and Futures Ordinance.

Virtual asset management services will align with Type 9 regulated activity. This means firms managing virtual asset portfolios would face rules similar to traditional asset managers.

The authorities aim to submit the legislative proposals to the Legislative Council in 2026. The planned rules would create separate regimes for advisory and management services.

Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said the proposal forms part of Hong Kong’s wider digital asset policy. He said Policy Statement 2.0, released in June last year, set out the goal of supporting responsible financial innovation while improving risk controls and investor protection.

Hui said the new rules, together with existing regimes for virtual asset trading platforms and stablecoin issuers, would help cover the main parts of the digital asset market.

SFC chief executive Julia Leung Fung-yee said the consultation conclusion marks “the final step” in refining Hong Kong’s digital asset regulatory framework. She said the regime would match traditional financial service standards and promote responsible innovation.

SFC urges early talks with firms

The SFC encouraged firms already offering virtual asset advisory or management services to contact the regulator early. It also asked firms planning to enter the market to begin pre-application talks.

The regulator said early discussions would help service providers understand the proposed licensing process. It would also help firms prepare for compliance before the new rules take effect.

The proposed regime adds another layer to Hong Kong’s digital asset policy. It would give regulators oversight of trading, custody, advice, and portfolio management under a wider legal structure.

The Philippine digital-asset landscape is entering a new phase of maturity. In a significant development for the country’s growing crypto ecosystem, Binance has announced a strategic partnership with BlockShoals Technologies Inc. under the Philippine Securities and Exchange Commission’s (SEC) Strategic Sandbox, or StratBox, framework.

The collaboration signals more than just another business expansion. It represents a broader shift toward compliance-driven innovation, where global crypto infrastructure and local regulatory oversight work side by side to create a safer and more sustainable environment for digital-asset participation.

A New Era of Responsible Crypto Innovation

The Philippine SEC’s StratBox framework was created to provide a controlled and supervised environment where financial technologies can be tested responsibly before large-scale deployment. Instead of allowing unrestricted experimentation, the sandbox approach encourages innovation while maintaining strong investor protection standards and regulatory accountability.

Under this arrangement, BlockShoals becomes the approved local participant operating within the SEC’s Crypto Asset Intermediary framework. Meanwhile, Binance contributes its global infrastructure, operational expertise, cybersecurity systems, liquidity architecture, and compliance capabilities developed across multiple regulated jurisdictions worldwide.

This structure reflects a growing global trend in crypto regulation: partnerships between internationally established platforms and locally regulated entities.

Rather than bypassing regulation, the partnership embraces it.

Why the Philippines Matters 🌏

The Philippines has consistently ranked among the world’s leading countries for cryptocurrency adoption. A highly digital-native population, strong mobile penetration, widespread use of remittance platforms, and increasing interest in decentralized finance have made the country one of Southeast Asia’s most active crypto markets.

From freelancers accepting stablecoin payments to gamers exploring blockchain economies and young investors entering digital markets, crypto participation in the Philippines is deeply grassroots-driven.

Because of this rapid adoption, regulators face a delicate balancing act:

• Encourage innovation and financial inclusion
• Protect users from fraud and market abuse
• Create clear pathways for legitimate companies
• Prevent the ecosystem from becoming a regulatory gray zone

The Binance–BlockShoals partnership appears designed specifically around that balance.

As Binance APAC Head Seker explained, frameworks like StratBox create opportunities for regulators and industry participants to collaborate constructively while prioritizing market integrity and investor protection.

The Role of BlockShoals

One of the most important aspects of the partnership is that BlockShoals is not merely a technical partner. It is the approved local intermediary operating directly under the SEC’s sandbox framework.

That distinction matters.

For years, one of the largest criticisms of the global crypto industry has been the lack of locally accountable structures. Regulators often struggled with platforms operating across borders without sufficient domestic oversight.

Through this setup:

• BlockShoals provides local accountability and regulatory participation
• Binance contributes technology, operational systems, and global expertise
• The SEC maintains direct supervisory oversight within the sandbox

This creates a more collaborative framework where innovation can happen without sacrificing regulatory visibility.

According to BlockShoals representatives, the objective is to demonstrate that global digital-asset platforms and local regulatory frameworks can coexist constructively instead of operating in opposition.

A Compliance-First Strategy 🛡️

Perhaps the most notable element of the announcement is Binance’s emphasis on a long-term, compliance-first approach.

The crypto industry has often been criticized for prioritizing rapid expansion over regulatory engagement. However, recent years have shown a clear shift among major exchanges toward deeper cooperation with regulators worldwide.

In the Philippines, this partnership signals that Binance is focusing on:

• User protection
• Regulatory transparency
• Market integrity
• Sustainable ecosystem growth
• Secure infrastructure deployment

The sandbox phase is expected to begin during the second half of 2026 and continue for at least two years. That extended timeline highlights the measured nature of the initiative.

Instead of rushing toward mass rollout, the project will evolve gradually through supervised testing phases, milestone evaluations, and market-specific adjustments tailored to Filipino users.

That slower approach may ultimately become one of its greatest strengths.

What This Could Mean for Filipino Users

If successful, the initiative could help establish a more secure and locally adapted digital-asset experience for users in the Philippines.

Potential benefits include:

Improved Regulatory Clarity

Users may gain greater confidence participating in digital assets through platforms operating under recognized local frameworks.

Enhanced Security Standards

Binance’s global cybersecurity systems and operational safeguards could strengthen protections for Philippine users.

Better Localized Services

The sandbox model allows testing of product configurations specifically designed for the Philippine market rather than simply importing global models unchanged.

Stronger Industry Trust

Constructive collaboration between regulators and industry participants may improve public trust in the broader crypto ecosystem.

At the same time, the sandbox structure ensures that regulators can monitor risks carefully before broader deployment occurs.

The Bigger Picture for Southeast Asia

The partnership also reflects Southeast Asia’s growing importance in the global digital economy.

Countries across the region are increasingly experimenting with balanced regulatory approaches rather than outright bans or unrestricted liberalization. Governments recognize both the opportunities and risks associated with digital assets, decentralized finance, and blockchain-based infrastructure.

The Philippines now joins a growing group of markets exploring supervised innovation frameworks that aim to foster responsible growth instead of reactive regulation.

If the Binance–BlockShoals model proves effective, it could influence how other emerging markets structure future crypto oversight frameworks.

Final Introspections

The partnership between Binance and BlockShoals Technologies Inc. represents more than a business collaboration. It reflects a broader evolution in how the crypto industry approaches regulation, accountability, and long-term ecosystem development.

By combining local regulatory participation with global operational expertise, the initiative aims to create a safer and more trusted environment for digital-asset participation in the Philippines.

For a country already recognized as one of the world’s most active crypto communities, this could mark the beginning of a more mature and institutionally integrated phase of digital-asset adoption.

The next chapter of Philippine crypto may not be defined by hype alone — but by responsible innovation built on trust, transparency, and collaboration. 🚀

SOURCE:

Binance Report

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US President Donald Trump has backed the Commodity Futures Trading Commission as having the “exclusive authority” over prediction markets, as state regulators’ action against the platforms mounts.

“It is critically important that the CFTC’s exclusive authority over Prediction Markets is maintained, and that they will thrive,” Trump posted to his social media platform Truth Social on Tuesday.

Trump also took aim at several officials whose states have launched legal action against prediction markets, including Kalshi, Polymarket, Crypto.com and Robinhood.

“Under my leadership, we are setting ‘rules of the road’ that are the Gold Standard for the States,” Trump wrote. “We cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules!”

Source: Donald Trump

Multiple state authorities have argued that prediction markets are violating state laws by offering gambling without a license, and have sued or issued cease-and-desist orders to multiple platforms.

Prediction markets such as Kalshi have sued various state authorities to fend off legal action, claiming it is regulated solely by the CFTC.

CFTC Chair Mike Selig has also opposed the states, arguing his agency has “exclusive jurisdiction” over prediction markets as federally regulated designated contract markets.

The agency has sued several states, including Minnesota, Illinois, New York and Arizona for taking action against prediction markets.

Trump said in his post that “other Countries are after this new form of Financial Market, and we want to remain at the top.”

“It is a major Industry, and we must protect it,” he added.

Last month, Trump told reporters he was “not happy” with prediction markets and was “never much in favor” of them in response to a question about well-timed bets on the platforms on events linked to the Iran war, which has drawn the ire of several Democrats who have called for stricter measures.

Related: Hyperliquid launches prediction markets for real-world events 

Trump, whose son Donald Trump Jr. is invested in and on the advisory board for Polymarket and is also an adviser to Kalshi, softened his stance on prediction markets days later, saying the US would “get left out in the cold” if it didn’t allow the platforms.

In March, the CFTC established an advisory team to oversee the listing and trading of event contracts and to ensure that market participants satisfy anti-manipulation, surveillance and market integrity requirements.

It claimed that prediction markets fall within the CFTC’s existing derivatives framework under the Commodity Exchange Act.

Magazine: How to fix suspected insider trading on Polymarket and Kalshi

Coinbase and CEO Brian Armstrong are bankrolling a rapidly expanding pro-crypto political machine, pouring tens of millions of dollars into Fairshake as Washington’s 2026 election fight over digital assets intensifies.

Coinbase and Armstrong are helping assemble what they describe as an “8-figure political war chest” by routing $25.5 million into Fairshake, a crypto-focused super PAC backing pro-digital asset candidates in what the exchange calls the industry’s “most consequential” U.S. election yet. According to Fairshake spokesperson Josh Vlasto, Coinbase contributed $24.5 million while Armstrong personally donated another $1 million, putting the exchange and its chief executive behind roughly one-third of the PAC’s current $85 million haul.

Fairshake, which supports crypto-friendly candidates from both parties, has emerged as the central political vehicle for the sector, drawing contributions from exchanges, venture firms and token issuers as they scramble to influence how Washington sets the rules for stablecoins, market structure and digital asset custody. As one crypto trader reacting to the latest numbers put it on X, “they’re playing the long game,” arguing that “policy could shift everything for crypto.”

Coinbase cashes in on political clout

The U.S.-based exchange has quietly become Fairshake’s dominant patron, with its latest $24.5 million check making it the PAC’s largest single donor this cycle, ahead of other big names such as Ripple and venture backers. In addition to Armstrong’s $1 million personal contribution, Coinbase has previously acknowledged Fairshake support in a December blog post, casting the PAC as part of a broader push to secure “clear rules of the road” for digital assets in the U.S. market.

Fairshake and affiliated committees Protect Progress and Defend American Jobs have collectively raised more than $85 million since launch, according to public disclosures and reporting from outlets including Axios and Bloomberg. A16z has chipped in at least $20 million, Electric Capital added $500,000, while Ripple has committed more than $20 million in this cycle alone, on top of an earlier $20 million tranche disclosed in December.

That capital is already being deployed aggressively. Fairshake and its allies have spent around $20 million in recent primary races across Georgia, Kentucky and Alabama, targeting candidates seen as hostile to the sector and backing those prepared to support more permissive crypto policy.

Crypto’s regulatory endgame in Washington

The industry’s political spending spree comes as Congress moves closer to a comprehensive framework for digital assets, with measures like the Senate Agriculture Committee’s CLARITY Act and parallel House market structure bills threatening to harden the regulatory perimeter around trading platforms, stablecoin issuers and token projects. Fairshake’s stated mission is to “support candidates who want to get it right on digital assets,” a euphemism for lawmakers willing to back CFTC-led oversight, friendlier tax treatment and a path to mainstream status for assets like bitcoin, ether and leading stablecoins.

In a wide-ranging discussion about crypto’s next phase, Armstrong has framed 2025–2026 as the moment the asset class moves from “gray market to well‑lit establishment,” explicitly tying that shift to heavy lobbying, campaign donations and the outcome of this election cycle. From PACs like Fairshake to direct outreach to policymakers, crypto firms are betting that writing big checks now will buy them regulatory clarity later, a strategy that has already helped push more than 250 openly pro‑crypto candidates into Congress, according to prior reporting from crypto.news.

The escalation also underscores how tightly politics and markets have fused. In a recent crypto.news feature, Fairshake’s $85 million war chest was described as a “new phase” of engagement, one that can make or break Senate bids with eight‑figure ad blitzes. Another crypto.news analysis detailed how the PAC and its allied committees have since swelled to more than $116 million in cash and commitments for the 2026 midterms, putting crypto on spending par with some of the country’s largest corporate lobbies.

For now, Fairshake’s donors are signaling they are nowhere near done writing checks. Coinbase has already pledged an additional $25 million for 2026, Ripple is layering on fresh $25 million commitments, and a16z plans to add $23 million on top of prior cycles — numbers that suggest the U.S. crypto industry has accepted that its future will be decided not just in markets, but at the ballot box.

Bitcoin briefly reclaimed the $78,000 level in a violent short squeeze that added roughly $30 billion to its market capitalization within an hour, before volatility quickly returned.

Bitcoin (BTC) ripped roughly $1,400 higher in about an hour on Tuesday, spiking back above $78,000 as a wave of forced liquidations flushed out overleveraged shorts and briefly added around $30 billion to the asset’s market value, according to trader Bull Theory. The move pushed Bitcoin back into the upper end of its recent range, where it has oscillated between roughly $75,000 and $80,000 since early May while traders debate whether the next leg is a clean breakout or yet another squeeze-driven head fake.

Bitcoin rips higher, then whipsaws traders

In his post, Bull Theory wrote that “Bitcoin pumped +$1400 in 1 HOUR and back above $78,000 adding $30 BILLION in market cap,” adding that “over $25 MILLION shorts liquidated in the past hour.” That size of liquidations is modest compared to the $140 million-plus in forced flows seen during broader market squeezes over the past month, but concentrated in a one-hour window it is enough to drive a sharp, mechanical move in thin order books.

The broader backdrop remains one of elevated but cooling leverage after a series of squeezes pushed Bitcoin to and through key resistance levels this quarter, including a break above $80,000 earlier in May as ETF inflows and conference-driven hype collided at Consensus 2026 in Miami. Bitcoin’s live price page shows the asset still hovering near the top of its recent range with a market capitalization above $1.5 trillion, underscoring its outsized influence on the wider crypto complex.

Short squeeze mechanics and where price goes next

On derivatives venues, similar episodes of forced buying have repeatedly driven Bitcoin higher as negative funding and crowded short positioning flip into a cascade of liquidations that chase price up the order book. Previous squeezes this cycle wiped out hundreds of millions of dollars in bearish bets in a matter of hours as BTC ripped past $76,000 and then $79,000, before stalling near resistance bands just below $80,600. Crypto.news has documented how these dynamics often leave spot demand lagging behind derivatives-driven spikes, raising the risk that price retraces once the forced flows exhaust.

Reactions to the latest move were predictably split. One trader, MacroPulse, noted that “it just dumped right back down for some reason lol,” capturing the frustration of those whipsawed by 15-minute candles that “would cause anyone to quit,” as another user, Alan Bolton, put it. Others warned that this is “not a good time to leverage; most people fail,” arguing that sharp squeezes can quickly reverse once late longs pile in and market makers fade the move.

Short-squeeze psychology is hardly new to this cycle. Earlier reporting from crypto.news highlighted how Bitcoin’s reclaim of the $79,000 area in April coincided with rising open interest and negative funding rates that signaled “potential for another short squeeze,” with resistance stacked near $85,000 and support closer to $77,000. Another recap detailed how BTC “reclaims $68K amid short liquidations,” showing the same pattern of shorts forced to buy back into strength.

At the time of writing, Bitcoin’s price page on crypto.news shows BTC consolidating just below the intraday highs, with market dominance around 58% and capitalization north of $1.5 trillion. That positioning, combined with prior analyses of Bitcoin “stabilizing at $70K as open interest drops” and setting a base for the next move, suggests that as long as spot demand does not fully disappear, aggressive shorting into support zones may continue to be a risky strategy.

XRP trades near $1.39-$1.47 in late May 2026, down approximately 26% year-to-date and 34% year-on-year despite multiple institutional catalysts that historically would have driven significant price appreciation.

Five-spot (XRP) ETFs are now trading in the US with cumulative inflows of $1.53 billion since the November 2025 launch. Goldman Sachs disclosed a $153.8 million XRP ETF position. The Senate Banking Committee voted to advance the CLARITY Act on May 14, 2026 (15-9 bipartisan). 

Ripple received conditional OCC approval for Ripple National Trust Bank in December 2025 and applied for a Federal Reserve master account. RLUSD stablecoin reached approximately $1.3 billion market cap after expanding to Ethereum Layer 2 networks. Ripple closed approximately 10 institutional deals in early 2026, including a tokenized Treasury pilot with J.P. Morgan, Mastercard, and Ondo Finance on XRPL. Standard Chartered targets $8 by year-end if the CLARITY Act passes the full Senate and ETF inflows reach $10 billion. Bitwise’s Juan Leon projects new all-time highs within 12-18 months. 

Yet XRP price action has been disconnected from these catalysts. The reason matters: XRP price benefits from XRP usage and holding at scale, not from Ripple’s deal pipeline. Most Ripple institutional flow routes through fiat and RLUSD rather than XRP as a bridge currency. The price disconnect is structural rather than temporary. This piece walks through the actual mechanics, the bull case ($8-$15 by 2030), the base case ($3-$6), and the bear case ($1-$2.50), with the specific variables determining outcome.

Why XRP is at $1.42 right now

The current XRP price reflects a structural disconnect between Ripple’s institutional success and XRP token utility that competitor analyses keep missing.

The starting point: XRP reached approximately $3.65 in July 2025, driven by anticipation of CLARITY Act passage, spot XRP ETF launches, and broader institutional adoption. The subsequent decline to current $1.42 levels (60+% drawdown from peak) happened despite Ripple’s continued institutional success across multiple dimensions.

The Ripple institutional wins through 2026: spot XRP ETFs launched in November 2025, with cumulative inflows reaching $1.53 billion by May 2026. Goldman Sachs disclosed a $153.8 million XRP ETF position. Ripple received conditional OCC approval for Ripple National Trust Bank in December 2025. Application filed for Federal Reserve master account. RLUSD stablecoin reached a $1.3 billion market cap. Tokenized Treasury pilot with J.P. Morgan, Mastercard, and Ondo Finance on XRPL. Ripple secured a $200 million financing facility from Neuberger Specialty Finance for institutional brokerage. Approximately 10 institutional deals closed in early 2026.

The structural problem: most of this institutional activity does not generate sustained XRP demand at price-supporting scale. Ripple’s payment corridors largely route through fiat (USD, EUR) and RLUSD stablecoin rather than through XRP as a bridge currency. The institutional ETF flows ($1.53B cumulative) are meaningful, but a fraction of Bitcoin ETF flows ($120B+) that drove BTC’s institutional adoption. The Federal Reserve master account application, if approved, would let Ripple hold RLUSD reserves at the central bank but doesn’t directly create XRP demand.

The XRP utility gap: the original Ripple thesis depended on XRP serving as the universal bridge currency between fiat pairs in cross-border payments. Banks would need XRP to enable transactions, creating sustained institutional demand for the token. The actual deployment has been substantially different.

Banks have largely used Ripple’s payments network through fiat-to-fiat settlement or through stablecoin-mediated transactions rather than XRP-mediated transactions. The demand for XRP that would justify higher prices has not materialized in the way the original thesis required.

The RLUSD competitive dynamic: Ripple’s own RLUSD stablecoin has captured the institutional settlement role that XRP was supposed to serve. RLUSD provides the same cross-border settlement functionality without the volatility risk of XRP. Banks and institutional users prefer stablecoin settlement for accounting and risk management reasons. The result is that Ripple’s own product is fundamentally competing with XRP for the bridge currency use case.

The ETF dynamics: spot XRP ETFs launched with significant initial inflows, but the demand pattern has been more episodic than sustained. Weekly XRP ETF inflows fell from over $200 million in early 2026 to roughly $2 million by the end of March 2026, showing the lumpy and catalyst-dependent nature of institutional XRP demand. Without sustained ETF accumulation, the institutional capital that supports BTC and ETH prices doesn’t reach XRP at comparable scale.

Key Highlights

• A recent report suggests that Trump Media has transferred around 4,600 BTC to wallet addresses connected with Crypto.com
• The drawdowns associated with the company’s Bitcoin treasuries are reported at around $455 million
• Traders are closely watching exchange inflows for any large Bitcoin transfer activity

Trump Media BTC Moves Raise Market Speculations

The fears related to treasuries have risen after news that Trump Media & Technology Group conducted transfers of thousands of BTC within several trading sessions. Blockchain monitoring detected a second move of 2,650 BTC, about $205 million, with destination wallets allegedly connected to Crypto.com.

According to recent data, the number of recent Bitcoin moves linked to Trump Media reached more than 4,600 BTC. Exchange-linked transactions can raise increased interest from institutional investors since such movements may indicate the company’s desire to manage liquidity or conduct other operations.

As soon as news about the transfer became available, market experts debated the general picture. Although blockchain information cannot be considered conclusive evidence of a decision to sell, any transfer of treasury funds to exchange-linked wallets puts market participants on alert during times of heightened volatility.

At the same time, such transactions revived discussion about the dangers of having large BTC holdings on a public company’s balance sheet, especially when acquisitions were made during periods of high valuations.

Bitcoin Losses Not Realized Exceeding $455M

According to reports, Trump Media invested in about 11,542 Bitcoins, paying roughly $1.37 billion to acquire them. On average, the price per Bitcoin is estimated at about $118,522, putting the company in a difficult position as prices have fallen relative to that level.

The unrealized loss on its treasury is said to be near $455 million. The decrease in valuation shows the problems many companies face by holding significant amounts of Bitcoin during periods of macroeconomic and crypto-market volatility.

During a downturn, investors tend to question publicly traded companies’ decisions to hold Bitcoin. Concerns focus on liquidity risk, the soundness of the balance sheet, and treasury exposure, because losses can continue to grow.

The case also highlights the disparity between companies that were early adopters of treasury Bitcoin and firms that entered the market when valuations were relatively high.

Bitcoin Transfers To Exchanges Spark Trading Caution

When large Bitcoin transfers occur into exchanges, they usually affect short-term market psychology, as many people associate such transfers with selling activity or collateral adjustments. For this reason, blockchain trackers remain important for understanding institutional behavior and treasury management.

Trump Media’s Bitcoin treasury topic is also associated with politics: some visual representations of blockchain reports included Donald Trump next to figures of the company’s Bitcoin holdings, which raised further interest.

Institutional Bitcoin strategies now affect shareholders’ confidence, public opinion, and market narratives about corporate involvement with cryptocurrency. Public interest in treasury-based blockchain transactions has increased significantly compared with previous market cycles.

Although speculation has mounted, experts say transfers between wallets are common in corporate treasuries. Companies often move funds for security or operational reasons. Traders will continue to watch corporate wallet activity for confirmation of intent.

Bitcoin Treasury Policies Under Pressure

Recent trends highlight how quickly the bullish narrative around corporate Bitcoin holdings can turn into accounting concerns during turbulent markets. As more listed firms increase cryptocurrency holdings, strategies for managing these positions become more sensitive to investor sentiment and macro risks.

Market participants are watching for any new flows to exchanges in the coming weeks. Future blockchain transactions and any official company announcements will determine whether recent transfers were merely restructuring activities.

Cathie Wood has raised her long-term Bitcoin forecast to as high as $1.25 million, even as the cryptocurrency trades below key resistance levels during another period of macro uncertainty.

Speaking in a recent interview with Fox Business, the ARK Invest chief executive said institutional demand continues to support the firm’s long-term outlook for Bitcoin. Wood stated that ARK Invest now sees a base-case Bitcoin target of $750,000 over the next five years, while its bull-case scenario projects prices climbing to $1.25 million.

According to Wood, pension funds, asset managers, and corporations are still in the early stages of allocating capital to Bitcoin. She described the cryptocurrency as a new asset class that institutional investors can no longer ignore if they want to improve long-term portfolio returns.

At the same time, Bitcoin remains stuck near the $77,000 range after several failed attempts to reclaim the $80,000 psychological level. Data from crypto.news showed Bitcoin (BTC) price was trading at roughly $77,149 on Tuesday, moving sideways over the past 24 hours. Intraday trading ranged between $76,451 and $77,998, while daily volume also slipped slightly.

Meanwhile, Wood argued that Bitcoin could continue taking market share from gold as younger investors inherit wealth over the coming decades. She also said the asset may gain traction in emerging economies where inflation, corruption, and currency instability continue to pressure local financial systems.

ARK Invest ties Bitcoin forecast to institutional adoption

As crypto.news reported earlier, fresh projections from ARK Invest’s Big Ideas 2026 report offer more detail behind the company’s aggressive Bitcoin outlook. According to figures cited by Forbes, the report estimates Bitcoin’s market capitalization could expand from roughly $2 trillion today to nearly $16 trillion by 2030.

The report also projects annual compound growth of about 63% during the remainder of the decade. ARK Invest attributed the forecast to several factors, including spot Bitcoin ETF demand, corporate treasury adoption, nation-state reserves, and Bitcoin’s use as settlement collateral across financial markets.

Beyond Bitcoin, ARK Invest predicted the wider digital asset sector could grow from around $2.8 trillion to nearly $28 trillion by 2030. The report named Bitcoin, Ethereum, and Solana as the dominant networks expected to capture most of that expansion.

Recent trading activity from ARK Invest has also reinforced the firm’s crypto-focused strategy. Earlier this month, the investment company purchased about $4.4 million worth of shares in Bullish after the exchange operator’s stock declined for five straight trading sessions before rebounding slightly.

Market reports showed ARK Invest added Bullish shares across its ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF products over two trading days.

Bitcoin faces pressure from geopolitics and Fed concerns

Despite Wood’s optimistic forecast, several market risks continue to weigh on Bitcoin in the short term. According to a May 26 report from The New York Times, investors remain cautious after the latest self-defense strikes linked to the ongoing U.S.-Iran conflict added fresh volatility across global markets.

Spot Bitcoin ETF outflows have also continued to pressure sentiment. At the same time, traders are closely watching the Federal Reserve after speculation grew that incoming Fed Chair Kevin Warsh could support additional rate hikes during his first policy meetings.

Elsewhere, some crypto investors continue to maintain longer-term bullish targets similar to Wood’s outlook. Public figures, including Robert Kiyosaki, Arthur Hayes, and Brian Armstrong, have previously discussed scenarios where Bitcoin could eventually reach the $1 million level during a future market cycle.

Meanwhile, Anthony Scaramucci recently told investors he still expects Bitcoin to rally later in 2026 if the traditional four-year crypto cycle remains intact.

TLDR

• The Digital Chamber rejected Sen. Elizabeth Warren’s claim that crypto trust charter approvals were improper.
• The group said Warren misread the National Bank Act and the OCC’s charter authority.
• Warren argued that firms like Ripple, Circle, Paxos, BitGo, Fidelity, and Coinbase face weaker standards.
• The Digital Chamber said federally regulated trust banks would not accept cash deposits or issue loans.
• Cody Carbone said the OCC should use its charter powers as Congress advances stablecoin regulation.

Crypto industry group The Digital Chamber has pushed back against Sen. Elizabeth Warren’s claim that digital asset firms received improper national trust charter approvals from the Office of the Comptroller of the Currency.

According to The Digital Chamber, Sen. Warren’s criticism misreads the National Bank Act and the OCC’s authority to approve national trust charters for crypto firms. The group made the argument in a Tuesday letter to Comptroller of the Currency Jonathan Gould.

The response followed Warren’s letter to the OCC last week, where she said approvals involving Ripple, Circle, Paxos, Fidelity Digital Assets, BitGo, and Coinbase appeared to violate the National Bank Act. Warren also argued that the firms were not being held to the same standards as traditional banks.

The Digital Chamber, which says it represents more than 250 crypto-related entities, rejected that view. In the letter, CEO Cody Carbone said Warren’s description of the approvals as “apparent violations” misread both the statute and the OCC’s long-running charter powers.

The Digital Chamber Defends OCC Charter Authority

Carbone told the OCC that national trust charters fall within the agency’s existing legal powers. According to The Digital Chamber, the approvals do not create full-service banks and do not allow the firms to take cash deposits or issue loans.

The group said the firms would instead operate as federally regulated trust banks if they receive final approval. Under that structure, they would be allowed to custody customer assets while remaining outside the business model of deposit-taking commercial banks.

Warren’s letter argued that the recently approved digital asset firms were attempting to use the charter process in a way that conflicts with the National Bank Act. She also said the companies appeared to have organized their applications after Congress passed stablecoin legislation last summer.

The law cited by Warren is the Guiding and Establishing National Innovation for U.S. Stablecoins Act, known as the GENIUS Act. According to Warren, that law does not change the requirements of the National Bank Act or remove the OCC’s duty to apply banking standards.

Carbone rejected that argument in his response. He said it would be inconsistent for Congress to create a federal framework for stablecoin issuers while the OCC refused to use its charter authority for firms seeking federal oversight.

Stablecoin Rules Add Pressure To Charter Debate

The dispute comes as crypto firms continue to seek federal recognition through the OCC. Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos received conditional approvals last year, according to the report.

Those approvals remain conditional, meaning the firms still need final clearance before operating under the trust-bank structure. If finalized, the charters would give the companies a federal pathway for custody services but would not place them in the same category as traditional banks that accept deposits and make loans.

Warren has framed the issue as a financial-stability concern. In her letter, she warned that the OCC’s approvals could expose the banking system to risks if crypto firms receive federal charters without meeting bank-like requirements.

The Digital Chamber framed the matter differently. The group said the OCC’s trust-charter process gives regulators direct oversight of digital asset firms instead of leaving them outside the federal banking framework.

At the same time, the charter dispute has unfolded alongside other points of tension between banks, lawmakers, and crypto firms. The treatment of stablecoin rewards was one of the issues debated during work on crypto legislation, though lawmakers later resolved that dispute as the bill advanced.

Decentralized exchange (DEX) Hyperliquid launched canonical prediction markets for offchain events, as the platform starts expanding beyond perpetual futures.

Validators run automated newsfeed software that publishes the markets and votes on deployment and settlement, Hyperliquid said in a Monday Telegram post.

The markets are built on Hyperliquid’s HIP-4 and use Circle’s USDC (USDC) as the quote asset. Hyperliquid said the first markets will open based on the May Consumer Price Index (CPI) year-over-year change and the June federal funds rate decision.

The launch puts prediction markets inside Hyperliquid’s existing trading stack, allowing users to trade event outcomes alongside spot and perpetual futures rather than moving collateral to a separate platform.

The rollout adds weight to a thesis advanced by Delphi Digital that Hyperliquid is evolving from a perp DEX into a broader onchain financial venue.

“What’s different now is that the stack is finally mature enough for true crypto superapps (aggregated giants) to exist without being limited to the wallet form factor,” Delphi said in a December research report.

The HYPE token’s price soared by 20% when Hyperliquid first announced plans to launch prediction market functionalities, Cointelegraph reported in February.

Hyperliquid announces the launch of canonical prediction markets. Source: Hyperliquid Telegram Channel

Is Hyperliquid crypto’s next “super-app”?

Hyperliquid’s expanding functionalities are making it the crypto industry’s next “super-app,” according to Matt Hougan, chief investment officer at crypto asset manager Bitwise. He wrote in a May 19 report:

“Hyperliquid has become the ‘super-app’  Atkins envisioned—a ‘non-SEC regulated platform’ offering investors exposure to “a variety of asset classes.” 

Hougan added that the Hyperliquid (HYPE) token is “one of the most mispriced assets in crypto today,” despite outperforming the wider crypto market since the start of 2026. He argued that investors are mispricing it, valuing it only as a perp DEX rather than a financial “super-app.”

HYPE & Total Crypto Market Capitalization, year-to-date chart for 2026. Source: Cointelegraph/TradingView

Since the beginning of the year, the HYPE rose more than 134% while the total crypto market capitalization fell by around 14%, TradingView data shows.

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Hyperliquid is currently the fifth-largest protocol by weekly fees and generated over $11 million in fees during the past week, according to DefiLlama data.

In the month leading up to May 10, Hyperliquid generated $50.95 million in revenue, all of which went directly to token holders with zero spent on incentives.

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