Stablecoins may need a new public identity as their role expands beyond crypto trading, according to Robert Hackett, head of special projects at a16z crypto. 

In a May 1 report, Hackett said the word came from crypto’s early years, when builders needed tokens that could hold steady value during sharp market swings.

He said the name once made sense because it explained the main problem these assets solved. However, Hackett argued that the technology has moved past that early use case. He wrote, “Stability is now table stakes. It’s a prerequisite, and not the point.”

Stablecoins move beyond price stability

Stablecoins are cryptocurrencies designed to track assets such as the U.S. dollar, gold, or other reference values. They now support payments, transfers, settlement, savings products, and financial apps built on public blockchains.

Hackett said the term still points to the original problem of crypto volatility, not to the wider platform stablecoins have become. He added that the real question is no longer whether these assets can hold value, but what builders can create with them.

The market has also grown. DefiLlama data showed the total stablecoin market cap near $320.84 billion, with USDT holding about 59.06% dominance. That size has made the sector one of crypto’s main bridges to payments and dollar-based activity.

Rebrand debate grows among builders

John Palmer, a developer and brand adviser, made a similar case last week. He said it “feels like a bug” to call them stablecoins because the category may expand crypto’s use far beyond its current reach.

Palmer also said these assets deserve a self-defined name, rather than one built as a response to volatility. His comments matched Hackett’s view that the word stablecoin frames the technology as a fix, not as a base layer for digital money.

Moreover, Hackett said other terms, such as “digital cash” or “programmable money,” may describe the technology better. Still, he noted that such names can feel too awkward for common use.

He also said early names often remain even after technology changes. As an example, he compared stablecoins with terms such as horsepower and email. In his view, people may later speak more often about digital dollars, digital euros, and other onchain assets.

Elsewhere, the a16z comments came as the firm stays active in wider crypto policy debates. Crypto.news reported that a16z also backed the CFTC in a dispute over state-level restrictions on prediction markets, showing its wider role in digital asset regulation discussions.

Payward has completed its acquisition of Bitnomial, giving Kraken a regulated pathway to launch crypto derivatives in the U.S.

According to a company statement released Friday, the deal hands Payward control of a full set of Commodity Futures Trading Commission licenses, including a Futures Commission Merchant, a Designated Contract Market, and a Derivatives Clearing Organization, allowing it to operate trading, clearing, and brokerage services under one framework.

Arjun Sethi, co-CEO of Payward and Kraken, said the rollout will begin with spot margin trading on Kraken, with perpetual contracts and options scheduled to follow, adding that “that stack is what makes the next set of products possible.”

Bitnomial, based in Chicago, spent more than a decade securing the three CFTC approvals required to run a complete derivatives operation, a combination no other crypto-native U.S. firm holds at the same time, according to Payward’s earlier disclosure in April.

With the transaction closed, Bitnomial will operate within Payward while keeping its regulatory structure and third-party services intact, the company said, alongside plans to expand the exchange’s team as development continues.

Payward said the integration will connect Bitnomial’s infrastructure across Kraken, NinjaTrader, and its business-to-business platform, allowing banks, brokerages, and payment firms to access regulated U.S. crypto derivatives through a single API.

When the acquisition was first announced, Payward said the deal could reach up to $550 million in cash and stock, valuing the company at $20 billion, although final terms were not disclosed upon closing.

Company data released in April showed Payward generated $2.2 billion in revenue in 2025, processed about $2 trillion in transaction volume, and held more than $48 billion in customer assets at year-end.

Outside the U.S., Payward said it already runs regulated derivatives businesses in the UK following a 2019 acquisition and introduced EU-regulated offerings in 2025, building out its international presence ahead of entering the U.S. market with a fully licensed structure.

The acquisition follows a separate $200 million investment from Deutsche Börse Group earlier this month, while Payward confirmed it had confidentially filed a draft S-1 with the U.S. Securities and Exchange Commission in November as it continues to consider a public listing.

The 11 U.S.-listed spot bitcoin BTC$79,854.07 exchange-traded funds (ETFs) have now recorded two consecutive months of net inflows in a sign of renewed institutional appetite for the leading cryptocurrency.

But zoom out, and the recovery looks more modest than the monthly headlines suggest.

ETFs have pulled in a total of $3.29 billion in investor funds over the past two months, according to data source SoSoValue. May began on a positive note, with ETFs registering a net inflow of $629 million on Friday.

That has lifted the cumulative net inflows since the launch in January 2024 to $58.72 billion, which is still shy of the record high of $61.19 billion in October. It’s also the month when bitcoin’s spot price hit its lifetime peak of over $126,000.

The gap shows that, though demand has recovered, it has yet to compensate for the outflows between November 2025 and February 2026. The four-month stretch saw investors yank $6.38 billion alongside a sharp slide in bitcoin to nearly $60,000 from over $100,000.

It’s not necessarily a reason for alarm, but a useful reality check on where things stand compared to the peak of October’s bullish sentiment. It tells us that the recovery in ETF flows is real but incomplete. Whether it gains enough momentum remains to be seen in the days ahead.

TLDR

• Fundstrat co-founder Tom Lee believes cryptocurrency markets and approximately 50% of equities have completed an unnoticed bear cycle
• Short interest has climbed to depths normally observed at bear market bottoms rather than at cyclical tops
• Real Vision’s Raoul Pal characterizes recent price action as a mid-cycle pullback rather than a terminal phase
• The Crypto Fear and Greed Index dropped to 8, marking its most extended period under 10 in its history
• Cryptocurrency investment products experienced $445 million in redemptions over the past week, with Ethereum absorbing the largest share at $222 million

Tom Lee, who co-founded the investment research company Fundstrat, believes the cryptocurrency sector has already navigated through the majority of its bearish territory. He shared these insights during a conversation on Fundstrat’s research platform.

Lee explained that approximately half of equity markets alongside the entire cryptocurrency space have already completed what he described as an obscured bear market phase. He referenced significant selloffs in software equities and noted that digital assets mirrored these downward movements due to identical liquidity constraints.

He further observed that bearish positioning has swelled to magnitudes typically associated with mid-bear-market conditions rather than standard cyclical peaks. According to Lee, this distinction carries weight because it indicates the bulk of downside pressure has likely already materialized.

Lee noted that investor sentiment deteriorated more rapidly than negative news flow. Market participants adopted defensive postures even as forward-looking economic indicators were finding stability. He interprets this divergence as evidence of a possible inflection point instead of the beginning of deeper losses.

He distinguished between routine cyclical credit tension and systemic financial risk. The recent turbulence in private credit markets, according to Lee, appears more consistent with standard credit cycle dynamics rather than a crisis comparable to 2008. He suggested major banking institutions could actually gain from this transition.

Macroeconomic Indicators Signal Mid-Cycle Position, Not Peak

Raoul Pal, who founded Real Vision, expressed a comparable assessment. He cited global M2 money supply reaching record levels, dollar weakness, and strengthening Institute for Supply Management data.

“The current move does not look like the end of the cycle but a mid-cycle correction,” Pal said in an interview.

Pal also drew attention to the Crypto Fear and Greed Index. The indicator plummeted to 8 and has remained beneath 10 for an unprecedented duration compared to even the 2022 bear market.

He interpreted this extreme fear reading as a potential bottom signal rather than a harbinger of additional declines. The sustained nature of this fearful sentiment, he contended, actually increases the probability of a market bounce.

Investment Fund Flows Paint a Cautious Picture for Now

Despite these optimistic perspectives, actual capital movements remain negative. Cryptocurrency investment vehicles recorded $445 million in redemptions during the previous week.

Ethereum experienced the steepest single outflow totaling $222 million. This represents tangible evidence of continued investor caution.

Lee introduced a forward-looking argument centered on artificial intelligence. He suggested that stablecoin payment systems and blockchain-based settlement infrastructure could emerge as the foundational layer that AI agents utilize at meaningful scale.

This convergence, he maintained, could channel capital back toward Bitcoin and Ethereum once macroeconomic headwinds subside.

Whether a genuine recovery takes hold hinges on the pace of liquidity expansion. It also depends on whether market sentiment continues to trail the actual economic fundamentals.

The latest concrete indicators remain the $445 million in weekly redemptions and the Fear and Greed Index resting at 8 — representing its most extreme and prolonged fear reading in recorded history.

Bitcoin price surged to a four-month high of $80,529 on Monday shortly after United States President Donald Trump revealed “Project Freedom” to help stranded cargo ships affected by the closure of the Strait of Hormuz.

According to data from crypto.news, Bitcoin (BTC) price rose nearly 3% breaking past the $80,000 a level that had been serving as stiff resistance. The bellwether has rallied over 20% in the past month.

Bitcoin price jumped today after Trump announced Project Freedom via a Truth Social post on Sunday, an initiative to free stranded cargo ships that were trapped as innocent bystanders in the U.S.-Iran conflict. Notably, the U.S. would guide foreign vessels safely through the restricted waterways so that they could freely get on with their business. The initiative reportedly went into effect today.

Despite the humanitarian framing by the U.S., Iranian officials have warned that any U.S. interference to navigate in the strait would be considered a violation of the fragile ceasefire and could lead to a forceful response.

Besides the project, Trump also said that his representatives were engaged in “very positive” discussions with Iran that could help ease tensions in the Middle East.

“I am fully aware that my Representatives are having very positive discussions with the Country of Iran, and that these discussions could lead to something very positive for all,” said Trump in his May 3 Truth Social post.

As Bitcoin price rallied on the news, it triggered a short squeeze as short traders were caught offguard. Data from CoinGlass shows that over $160 million in Bitcoin short liquidations occurred, which caused over $300 million in short liquidations across the crypto market.

West Texas Intermediate was up 0.6% at $102 per barrel while Brent Crude oil traded at $108, up 0.4%, showing stability as markets await the mission’s outcome.

Safe-haven assets like gold and silver fell slightly lower on the day, while major Asian tech stocks such as the Nikkei 225 and Hang Seng closed higher as investor confidence returned.

Meanwhile, spot Bitcoin exchange-traded funds in the U.S. entered their fifth straight week of net inflows with $153 million added last week. Such institutional inflows often improve retail investors’ perception of the asset’s legitimacy and hence drive further upward momentum.

Looking ahead, one of the next major catalysts for Bitcoin and broader markets is the May 7 initial jobless claims report, which will provide insight into the strength of the labor market and could influence expectations around the Federal Reserve’s interest rate policy.

A U.S. court order has placed Arbitrum DAO’s planned use of frozen hack funds under legal restraint.

According to filings authorized by the U.S. District Court for the Southern District of New York, plaintiffs served a restraining notice on May 1 through Arbitrum’s governance forum, blocking any movement of 30,766 ETH, valued at nearly $71.1 million, that had been frozen by the Arbitrum Security Council after the Kelp DAO exploit.

Lawyers representing the plaintiffs, identified as victims holding unpaid terrorism-related judgments against North Korea, have argued that the seized ether constitutes property in which the DPRK holds an interest. Their claim rests on allegations that the funds were stolen by the Lazarus Group on behalf of Pyongyang, a link previously attributed by LayerZero in its investigation of the breach.

Arbitrum’s intervention traces back to April 20, when its Security Council moved the assets into a controlled wallet after identifying attacker-linked addresses. In an April 21 update, the network said the freeze followed input from law enforcement regarding the exploiter’s identity, adding that the action did not disrupt user activity or applications.

Gerstein Harrow LLP filed the action on behalf of Han Kim and Yong Seok Kim, whose case stems from the killing of Reverend Kim Dong-shik by North Korean agents. A U.S. court awarded roughly $330 million in damages in that case, and the latest filing combines that judgment with two others, Kaplan v. DPRK and Calderon-Cardona v. DPRK, bringing total claims to more than $877 million before interest.

Legal arguments presented by the plaintiffs cite the Foreign Sovereign Immunities Act and the Terrorism Risk Insurance Act, which permit creditors to attach assets tied to state sponsors of terrorism. The filing names both Lazarus Group and APT-38 as instrumentalities of the DPRK.

Governance vote collides with legal claim

Arbitrum DAO had opened a Snapshot vote on April 30 to decide whether the frozen ETH should be transferred to a recovery initiative formed after the exploit. The proposal, authored by Aave Labs with contributions from Kelp DAO, LayerZero, EtherFi, and Compound, seeks to route the funds into a multi-signature wallet managed by ecosystem participants and security firm Certora.

Voting data shows more than 99% support for the plan as of publication time, with a May 7 deadline set for the temperature check. The design limits the wallet’s function to receiving recovered assets and using them to restore backing for rsETH.

Aave Labs has included an indemnification clause in the proposal, offering to cover the Arbitrum Foundation, Offchain Labs, and Security Council members against claims tied to the freeze or release of funds. The extent to which such protections would apply under an active court-ordered restraint remains unresolved.

The dispute unfolds against the backdrop of a $292 million exploit that drained 116,500 rsETH from Kelp DAO’s LayerZero-based bridge on April 18. LayerZero’s analysis pointed to a compromise of RPC nodes and a 1-of-1 verifier setup that allowed a forged cross-chain message to pass validation, while Kelp DAO has maintained that the configuration followed default deployment parameters.

On-chain tracking cited in subsequent reports showed the attacker moving funds through Arbitrum and converting assets into Tron-based USDT, a pattern analysts said was intended to fragment the transaction trail. Estimates cited by Yahoo Finance placed North Korean-linked crypto thefts near $600 million in the first quarter, with the Kelp DAO incident accounting for a significant share.

Arbitrum’s freeze had initially been framed as a step toward recovery, but the court-backed claim has now introduced competing demands over the same pool of assets, leaving the DAO’s next move subject to legal constraint.

Strategy has halted Bitcoin purchases for the week ahead of its first-quarter earnings release and rising scrutiny around its preferred stock dividend.

According to a Sunday post on X by Michael Saylor, the company signaled “No buys this week,” breaking a pattern where he regularly flags upcoming accumulation.

The decision follows a recent stretch of steady buying. A Form 8-K filing with the U.S. Securities and Exchange Commission shows Strategy acquired 3,273 Bitcoin for about $255 million between April 20 and 26, funded through the sale of 1,451,601 MSTR Class A shares under its at-the-market equity program. Yahoo Finance reported the purchase price averaged $77,906 per coin.

Holdings have reached 818,334 BTC, which Saylor said were acquired for roughly $61.81 billion at an average of $75,537 per bitcoin. At current prices near $78,000, filings and market data place the position’s value at about $63.7 billion, implying an unrealised gain of roughly $1.9 billion.

As reported by crypto.news, Strategy added more than 34,000 BTC for $2.54 billion in a single week last month, which marked one of its largest purchases on record. Across April, four acquisitions totalled well over $3 billion, with earlier deals funded through a mix of MSTR stock sales and issuances of STRC, its perpetual preferred security.

Attention has turned to Strategy’s upcoming earnings report, where analysts expect pressure from accounting treatment tied to Bitcoin. Yahoo Finance data shows Wall Street forecasts a loss of $18.98 per share for the quarter, compared with a $16.49 loss a year earlier, largely due to mark-to-market adjustments on its holdings.

At the same time, scrutiny has intensified around STRC, which offers an 11.5% dividend yield. Peter Schiff repeated his criticism of the structure on Sunday, arguing in a post on X that relying on Bitcoin appreciation above that yield does not resolve what he described as a “ponzi like structure.”

Concerns over sustainability have also been raised by Joseph Parrish, who wrote on April 28 that current cash reserves may not cover two years of STRC dividend payments. Parrish warned that continued stock issuance could become necessary, increasing risk if Bitcoin fails to outperform expectations.

Despite the concerns, data from TipRanks shows a consensus “Strong Buy” rating on Strategy’s Nasdaq-listed shares, even as some investors weigh leverage, payout obligations, and dependence on equity funding.

Strategy still has $26.47 billion in MSTR shares available under its existing issuance program, according to its latest filing, leaving room to continue funding Bitcoin purchases without securing new capital sources.

Mobile cloud mining expands in 2026 as BM Blockchain attracts beginner interest in BTC and DOGE mining.

As more people look up things like what Bitcoin mining is, how to mine Bitcoin, and whether any free cloud mining options still exist in 2026, the mobile-first crypto mining space keeps growing. On Android, iOS, and web dashboards, more users are choosing Bitcoin and Dogecoin cloud mining platforms instead of buying hardware, dealing with heat and power bills, or running dedicated mining rigs.

In real life, “free” usually doesn’t mean mining is forever at zero cost. In 2026, it more often points to free sign-ups, welcome bonuses, trial access, or mobile tools that let people get a feel for mining-related systems before paying for larger plans. That’s why comparison roundups still matter for anyone trying to understand how Bitcoin mining works, how BTC cloud mining platforms actually run, and which services might be easier for beginners.

Below is an original roundup of five platforms that people often mention when talking about the best cloud mining, the best crypto cloud mining options, and beginner-friendly ways to access Bitcoin and Dogecoin mining in 2026.

Top free cloud mining platforms (2026 comparison)

1. BM Blockchain — Best for users looking for a low-barrier starting point

BM Blockchain can be seen as a beginner-friendly choice for people who want to try Bitcoin cloud mining or Dogecoin mining through a platform, instead of buying and running their own mining hardware. Based on publicly available industry information, BM Blockchain is described as focusing on letting users take part in infrastructure, access computing power, and get a more guided onboarding experience if they’d rather not deal with hardware setup themselves.

For those searching for things like how to mine Bitcoin or how to start mining Bitcoin without building a rig, this kind of platform setup may sound appealing because it removes a lot of the usual technical friction. Instead of setting up and tuning equipment, users can look through the platform’s tools, compare different ways to participate, and get started through a mobile-friendly experience.

Industry disclosures also mention welcome allocations during onboarding valued at up to $108, framed as participation incentives rather than any promised financial result. Interested investors who are comparing cloud mining apps or looking up the best cloud mining options, that kind of easier, low-effort onboarding could make BM Blockchain stand out as a place to begin.

BM Blockchain 2026 illustrative participation snapshot

Stable returns and a clear timeline: This is a truly hands-free way to earn Bitcoin daily.

BM Blockchain states that actual returns may vary depending on platform conditions, applicable terms, fees, operational assumptions, timelines, and broader market factors.

View the full contract and claim $108 worth of free hashrate!

2. StormGain — Best for a Bitcoin miner app experience

StormGain often comes up when people search for terms like best Bitcoin miner app, bitcoin miner app, or bitcoin mining apps, mainly because it offers a mobile-first way to access mining. Beginners in particular talk about it when they want an app that works through simple activation instead of dealing with a more technical contract-style dashboard.

A big reason StormGain shows up so much in beginner conversations is convenience. When someone is asking how to mine Bitcoin on a phone or is looking for a crypto mining experience on mobile, an app-based interface usually feels easier to approach than more traditional mining services.

3. ECOS — Best for structured contract-based cloud mining

ECOS often shows up in cloud mining roundups because it gives users a more structured setup, with hosted mining contracts and centralized tools to manage their accounts. Compared to lighter apps that focus more on quick activation, ECOS tends to suit people who want something more organized and a clearer, contract-style way of presenting the service.

For anyone looking into bitcoin cloud mining, BTC cloud mining, or how to start crypto mining, this approach can feel closer to getting longer-term access to mining infrastructure than just using a casual app.

4. NiceHash — Best for users interested in mining marketplace tools

NiceHash usually comes up less as a typical “free mining app” and more as a marketplace for mining power, along with a platform to manage day-to-day mining operations. That’s why it tends to appeal to people who want to see things like hashrate prices, use account tools, and track mining activity, instead of relying on a simple sign-up bonus approach.

For people looking up what miners are in blockchain, or trying to get a clearer picture of how mining marketplaces work, NiceHash is still one of the better-known names in this space.

5. Binance Pool — Best for exchange-integrated mining access

Binance Pool gets attention mainly because it links mining services with the wider Binance exchange ecosystem. For users who already use Binance regularly, this all-in-one setup can feel easier than running mining through a separate platform.

Looking at different cryptocurrency cloud mining services? People often see Binance Pool as a solid choice when it matters to have everything connected in one ecosystem, not just the mining access on its own.

Why Bitcoin and Dogecoin cloud mining continues to attract attention

Bitcoin is still the best-known digital asset by market value, and Dogecoin continues to get a lot of attention from everyday buyers. Put together, they show two very visible, but very different, corners of the digital asset market.

Many people who look up how to mine cryptocurrency, how to mine Dogecoin, or how long it takes to mine Dogecoin usually aren’t trying to run a large mining setup. More often, they’re looking for an easier way to get started so they can understand what it means to mine Bitcoin, how cloud-style options work, and whether a mobile-friendly service makes more sense for them than buying and managing their own hardware.

That’s part of why mobile crypto mining and browser-based tools are still getting more attention in 2026.

How to choose the right cloud mining platform

Every platform works a bit differently, and “free” doesn’t always mean the same thing everywhere. In real use, people should compare:

• Wwhat “free” actually means on the platform
• Whether the service is app-based, browser-based, or contract-based
• How clearly the participation model is explained
• Whether fees, estimates, and withdrawal rules are disclosed
• Whether the platform is designed for beginners or more advanced users

A practical way to do this is to begin on a platform with a lower entry barrier, get familiar with the participation rules, and try out the user experience first, then gradually increase the allocation.

Frequently asked questions

What is Bitcoin mining?

Bitcoin mining is basically how transactions get checked and then recorded on the blockchain, using computing power. In the past, that usually meant having dedicated mining machines, but a lot of people now start by looking into Bitcoin cloud mining platforms instead of buying and running hardware themselves.

How does Bitcoin mining work?

Bitcoin mining works by using computing power to confirm transactions on the network and help keep the blockchain secure. With cloud mining, people generally use remote services and rented infrastructure rather than owning and running the machines directly.

How can I mine Bitcoin as a beginner?

For those who are new, the easiest starting point is often an app or a platform that walks them through it. Many people who search for how to mine Bitcoin or how to start mining Bitcoin begin with cloud dashboards, instead of jumping straight into ASIC hardware.

What is cryptocurrency mining?

Cryptocurrency mining usually means using computing power to help process blockchain transactions and keep the network running safely. People searching for what cryptocurrency mining is or what cryptocurrency mining is are often trying to understand the difference between mining with their own hardware and joining through a cloud-based option.

What is the best Bitcoin miner app in 2026?

There isn’t one best choice that fits everyone. People looking for the best bitcoin miner app often compare things like how easy it is to use, how clear the terms are, how transparent it feels, and whether it’s mainly for activation, monitoring, or actually connecting users to a broader mining marketplace.

Can crypto be mined on a laptop or phone?

Most of the time, doing serious mining directly on a laptop or phone isn’t really practical anymore. That said, some people use cloud mining apps, crypto mining phone tools, or mobile-friendly dashboards that let them join or manage mining without making the device do the heavy work.

How to mine Dogecoin in 2026?

For those who are asking how to mine Dogecoin, it usually comes down to two routes: mine directly with the right hardware, or join through a cloud platform that offers access tied to Dogecoin. The cloud approach is often easier for beginners since they don’t have to deal with hardware setup.

How long does it take to mine Dogecoin?

That depends on how a person is mining, how much computing power is involved, and which platform or setup they’re using. So, searches like how long to mine Dogecoin and dogecoin cloud mining earnings can lead to very different expectations, depending on whether someone means solo mining, pooled mining, or a platform-based setup.

What does “cloud mining free” really mean?

Most of the time, it means free sign-up, a welcome bonus, a trial period, or limited-time activation — not endless mining with zero cost. It’s worth checking how each platform explains what “free” includes.

Conclusion

The mining scene in 2026 isn’t dominated by just one kind of product anymore. People can now choose from infrastructure-focused services, mobile-first onboarding platforms, mining marketplaces, and ecosystems tied to exchanges.

For those who are looking up things like what Bitcoin mining is, how to mine Bitcoin, the best cloud mining options, or how to mine Dogecoin, a good place to begin is usually a platform that clearly explains how someone can get access and makes it easier to start without having to own hardware. Publicly mentioned onboarding offers, like the $108 welcome incentive linked to BM Blockchain, also show how some platforms are trying to make it simpler for first-time users to get started.

As usual, it’s worth comparing the terms across platforms, understanding what each one actually means by “free,” and checking the participation rules before jumping in.