Prague, Czech Republic, May 18, 2026 – BTC Prague, Europe’s premier Bitcoin conference, returns to the PVA Expo Prague on June 11-13, 2026. Entering its fourth edition, BTC Prague welcomes 8,500 attendees, uniting entrepreneurs, developers, investors, educators, and newcomers in the industry. This year, BTC Prague adds its new Bitcoin Living Masterclass track, a dedicated stage for talks on health, biohacking, financial sovereignty, AI, parenting, and more, from renowned experts in their fields on top of its best-in-class Bitcoin program.

Without abandoning its Bitcoin-only philosophy, BTC Prague now broadens its appeal, including a wider range of topics very much in vogue among the Bitcoin community. The result is a three-day program of keynotes, panels, debates, and networking across four different stages surrounded by Europe’s largest Bitcoin expo.

Building Bitcoin bridges: from Europe to the rest of the world

BTC Prague is a meeting point for those building Bitcoin’s future. More than a conference, it’s a festival for everyone. From the newly curious to die-hard advocates, the event’s setup is meant to unite the vastly different ideological, technical, and business enclaves that exist in Bitcoin. A BTC Prague ticket ensures people can interact with experiences and content made for and by the Bitcoin community.

• Main Stage: Talks focused on the deeper societal implications emerging from Bitcoin adoption
• GART Stage (Expo): Everything needed to learn and master the Bitcoin basics
• Anycoin Stage (Czech-only): Czech language speakers curated for a local audience
• VIP Stage: Limited-access sessions for VIP ticket holders

The 250+ speaker lineup features major names in the industry and beyond, such as:

• Michael Saylor, Executive Chairman, Strategy
• Jack Mallers, Founder & CEO, Strike & Twenty One
• Natalie Brunell, Author, Bitcoin is for Everyone
• Peter McCormack, Podcaster, filmmaker, and football club chairman
• Dr. Adam Back, CEO & Co-founder, Blockstream
• Roman Reher, Founder & CEO, Blocktrainer
• BTC Sessions, YouTube Educator
• Jeff Booth, Founding Partner, Ego Death Capital | Author, The Price of Tomorrow
• Marc Friedrich, Friedrich Vermögenssicherung GmbH, and best-selling author
• Dr. Jack Kruse, Neurosurgeon at Kruse Longevity Center
• Julian Liniger, Co-founder & CEO, Relai
• Efrat Fenigson, Journalist and host of “You’re The Voice” podcast
• And many more leading experts, developers, investors, and entrepreneurs

An Entire Week Dedicated to Bitcoin

Besides the main 3-day conference, BTC Prague 2026’s spirit extends well past that onto separate meetups, events, and parties happening in Prague that same week.

Freedom Tech Summit – June 10, 2026

The next step for BTC Prague’s dev/hack/day. This is a one-day deep dive for developers, builders, hackers, or freedom and privacy enthusiasts. Freedom Tech Summit is where the bleeding-edge of open source development comes to meet for innovative workshops, dev sessions, and talks.

Bitcoin Corporate Day – June 10, 2026

An invite-only event for investors, entrepreneurs, bankers, and high-level decision makers. Bitcoin Corporate Day brings together top executives, institutional figureheads, and Bitcoin thought leaders, breaking new ground for institutional Bitcoin adoption, capital markets, corporate finance, and more. This exclusive gathering is held at the prestigious Lobkowicz Palace.

The Bitcoin Expo

This year, the BTC Prague Expo features 100+ companies and a renewed floor plan suitable for Europe’s largest Bitcoin exhibition. Attendees from any experience level are welcome to see, try, or purchase Bitcoin-related products: everything from wallets to mining hardware, security tools, financial services, educational platforms, games, and more for only a €75 admission fee.

Don’t miss BTC Prague’s side events

BTC Prague is all about celebrating the Bitcoin community and culture. A plethora of separate, fully community-backed events are expected. This includes meetups, parties, workshops, hackathons, and even sports activities meant to take advantage of Prague’s distinct identity. Every Bitcoiner is welcome to organize their own celebrations.

Bitcoin networking for everyone

BTC Prague 2026 prioritizes accessibility and an unforgettable experience for everybody. This year, it brings back all the features loved by past attendees:

• Dedicated event app for networking, scheduling, and customizing your program.
• Ticket options for every budget, starting from €75, with packages for newcomers, enthusiasts, professionals, and VIPs.
• On-site chill zones, food trucks, and the annual afterparty let attendees take a proper break and enjoy a casual community-building environment.

VIP attendees get to enjoy the “ultimate Bitcoin experience” with access to a concierge-hosted lounge, front-row seating, and Michelin-star level dining and drinks. The VIP pass unlocks elevated comfort and access throughout the entire event venue.

Prague: still the Bitcoin capital of the world

Held in a city synonymous with freedom, Prague also reflects the Czech capital’s deep ties to Bitcoin’s history, from pioneering mining operations and software, to hardware wallet innovation and finance. Centrally located in Europe, Prague offers excellent infrastructure, affordability, and a thriving local Bitcoin scene, making it an ideal setting for an event of this scale and ambition.

Key event details

• Dates: 11^th – 13^st June 2026
• Location: PVA Expo centre, Beranových 667, 199 00 Prague, Czech Republic
• Tickets: Four tiers available: Bitcoin Expo only, 2-Day All Access, 3-Day All Access (adds Bitcoin Living Masterclass), VIP (access to everything + hospitality perks)

Partners

• General: Relai
• Gold: Bitmain, DASE, Firefish, Fulgur Ventures, GART, The Bitcoin Way, Trezor
• Silver: AmityAge, Anycoin, AsicExchange, BitBox, Bitwise, Braiins, Brainmarket, BullBitcoin, Cake Wallet, Citadel Garden, Coinsnap, EMCD, FractalEncrypt, Frostsnap, Glimpse, Invity, Mitochondriak, OCEAN, Próspera, Rewallet, Rootstock, Silent.Link, Strive, Tangem, Terahash, The Block Live Studio, Travala, Vexl
• Bronze: 21energy, 2fiat.com, ArchLending, Bespoke, Bitchair, Bitcoin Beach, BitcoinMat, Bitcredit, Bitronics, Bitsurance, BTC Map, BTCPay Server, Capital B, Citadel Vault, CKMA, Coconut, Foundation, KeychainX, KvaPay, Liberation Travel, MIM, Minotaur, Nomium, OBM Foreman, One Miners, Portu, Satoshi Silver, Seedor, Stamp Seed, Strike, Sygnum, ThorSwap, Tropic Square, Uminers, Vnish, Volcminer, Xapo Bank, XCE
• Copper Partners: AnchorVerse, Bitcare, Crypto Goodies, Electrum, Ledn, LifPay, Saturday Block
• Product partners: Beer of Satoshi, BitKit, CzechCrunch, Jednadvacet, Mattoni, Mercedes Hoffmann & Žižák, Opago, Pilsner Urquell, Prima & La Panna, Red Bull, Refyzio, Yubico

About BTC Prague

Launched in 2023, BTC Prague is now the largest and most prominent Bitcoin-only conference in Europe. It was created by a team of European Bitcoiners to foster learning, innovation, and real-world connections in the global Bitcoin ecosystem. The event is fully independent and focused solely on the Bitcoin protocol, its adoption, culture, and its future.

For tickets, speaker updates, and more information, visit www.btcprague.com.

Media kit & Brand Manual: https://design.btcprague.com/btc-prague; photo 1; photo 2; photo 3.

Media Contact

Sponsorship & exhibition inquiries

BTC Prague offers a unique appeal and exposure for any Bitcoin brand to gain direct exposure to thousands of attendees, A-list speakers, and online audience through bespoke sponsorship, exhibition, or marketing opportunities. For more information and how to apply, please contact martin@btcprague.com.

Bitcoin (BTC) fell back below $75,000 at Wednesday’s Wall Street open as relief over a US-Iran peace deal bypassed crypto.

Key points:

• Bitcoin continues to diverge from US stocks despite good news over the US-Iran war.
• BTC price action instead trends lower with oil amid improving odds of the Strait of Hormuz reopening.
• Bitcoin traders see little reason to avoid new local lows nearer $70,000 next.

BTC price falls with oil as Iran peace deal details emerge

Data from TradingView showed BTC/USD down by up to 1.2% on the day, targeting week-to-date lows.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

News that the US and Iran had produced a memorandum of understanding aimed at securing an end to the conflict sent stocks soaring to new all-time highs while commodities and oil, in particular, fell immediately.

US WTI crude dropped to as low as $87.77 per barrel on the day, its lowest since April 22.

CFDs on WTI crude oil one-day chart. Source: Cointelegraph/TradingView

Part of the deal, which reportedly sets out a 60-day negotiation period for securing a lasting agreement, includes the reopening of the Strait of Hormuz — a key oil shipping route.

“If a final deal is reached within 60 days, this agreement will be approved in the form of a binding UN Security Council resolution,” an X post on the developments from trading resource The Kobeissi Letter stated.

Despite the implied tailwinds for risk assets, Bitcoin failed to join the upward momentum, instead continuing a trend from recent weeks where it moved in the opposite direction to US equities.

“$BTC Indecisive whether to join stocks or commodities today,” trader Daan Crypto Trades responded.

Macro asset comparison chart. Source: Daan Crypto Trades/X

Exchange order-book conditions set up potential liquidity grabs both above and below the price as positions increased on both sides.

“Although most of the liquidity is currently sitting above us, it’s spread out pretty evenly, which doesn’t give a clear target for an upside sweep. Meanwhile, below us there’s a large liquidation cluster around 74k that could pull price toward it,” trading and analytics account CGT Trader commented earlier.

“An upside sweep can’t be ruled out, but imo continuation to the downside is still more likely.”

Binance BTC/USDT liquidation heatmap. Source: CoinGlass

Bitcoin stays “weak and bearish” despite macro tailwind

Other market participants continued the lack of optimism as Bitcoin headed lower.

Related: Bitcoin analysis eyes sharp rebound after BTC collapses below M2 supply ‘fair value’

Commentator Exitpump described BTC price action as “weak and bearish,” seeing a potential drop to near $72,000 next.

BTC/USDT 12-hour chart. Source: Exitpump/X

Trading resource Material Indicators added further hurdles, including a potential death cross involving the 21-day and 50-day simple moving averages (SMAs).

An accompanying chart showed up and down signals from one of Material Indicators’ proprietary trading tools, along with significant price points.

BTC/USD one-day chart. Source: Material Indicators/X

Among the decreasing bullish voices was analyst Eric Coleman, who saw current price action as retesting the top of an ascending triangle construction on daily time frames.

“As long as the price is above the horizontal and the trendline support, the trend remains bullish,” he concluded.

BTC/USDT one-day chart. Source: Eric Coleman/X

Robinhood shares rose more than 2% to around $76 after the brokerage outlined plans for agent-based stock trading. The company will let customers use automated agents for trades and credit card purchases. The move adds a new product push as HOOD tries to regain market strength.

Robinhood Builds New Agent Trading Feature

Robinhood plans to let customers deploy automated agents inside separate trading accounts. These accounts will sit apart from a customer’s main Robinhood account. Therefore, the company can test the product while limiting direct exposure to primary portfolios.

The feature will start with stock trading before Robinhood expands it to other markets. The company expects future support for derivatives, crypto, and prediction markets. This would place the tool across several major products on the platform.

Robinhood already offers crypto trading, stock trading, options, retirement products, and prediction markets. As a result, the new feature fits its broader push into multi-asset trading. The brokerage wants to keep users active across more financial products.

Credit Card Purchases Add Another Use Case

Robinhood also plans to connect automated agents to its Robinhood Gold credit card. Users will be able to allow the agents to make purchases on their behalf. The agents can also act when prices fall below a user-set level.

The company said users will control spending limits on these card accounts. They will also be able to require manual approval before purchases happen. Therefore, Robinhood aims to reduce the risk of unwanted activity.

The product still carries operational and user-control risks because agents can act automatically. However, Robinhood said it built controls for trade and purchase approval. The company wants early users to test the service under defined limits.

HOOD Stock Gains Despite Weak Crypto Market

HOOD stock rose more than 2% after the product update reached the market. The stock traded near $76, according to TradingView data. The move came even as crypto-linked stocks weakened with Bitcoin and the broader crypto market.

Robinhood shares have remained under pressure over the longer term. The stock has fallen more than 34% year-to-date. It has also dropped more than 37% over the last six months.

The decline followed a weaker crypto cycle after Bitcoin reached a high in October 2025. Robinhood’s business often reflects activity in retail trading and digital assets. Therefore, lower crypto activity has weighed on sentiment around the stock.

The company still has several possible growth drivers tied to product expansion. Its planned agent trading feature could increase platform use if customers adopt it. In addition, its prediction markets business gives Robinhood another growth channel.

Robinhood may also gain attention from the planned SpaceX public offering. Elon Musk’s company has selected Robinhood as one route for retail access to shares. That role could strengthen Robinhood’s profile before the offering.

The latest announcement shows Robinhood’s attempt to expand beyond simple trading access. The company now wants to combine brokerage tools, card spending, and automated execution. For HOOD stock, the update added near-term momentum during a weak crypto session.

Mastercard’s US transaction services unit has received a BitLicense from the New York State Department of Financial Services (NYDFS), allowing the payments giant to conduct regulated digital asset business activity in the state.

The company announced the license approval on Wednesday, but did not unveil any new consumer-facing crypto products. Instead, Mastercard said it plans to continue developing payment and settlement infrastructure tied to digital assets, focusing specifically on stablecoins and tokenized deposits.

New York’s BitLicense is widely regarded as one of the strictest state-level crypto regulatory frameworks in the United States. Companies offering certain crypto-related financial services to New York residents are generally required to obtain the license.

Mastercard joins a growing list of companies that have recently secured a New York BitLicense as regulatory clarity around digital assets continues to evolve in the United States.

Earlier this year, crypto financial services company Galaxy received approval to expand its institutional digital asset offerings in the state. Bitcoin payments company Strike, led by Jack Mallers, obtained both a BitLicense and money transmitter licenses to support its Bitcoin (BTC) focused payment services in New York.

Source: Mastercard

The BitLicense isn’t Mastercard’s first crypto-related expansion in New York. In February, MetaMask introduced a Mastercard-enabled payment card in the state that allows users to spend crypto directly from their self-custodied wallets at merchants that accept Mastercard.

Related: Mastercard launches crypto partner program with a ‘who’s who’ of industry

Mastercard deepens both stablecoin and tokenization efforts

The BitLicense approval follows Mastercard’s recent acquisition of the stablecoin infrastructure company BVNK, valued at up to $1.8 billion. Expected to close later this year, the transaction included up to $300 million in performance-based payments and is aimed at strengthening the payments processor’s ability to connect traditional payment networks with blockchain-based transactions.

The acquisition came months after crypto exchange Coinbase and BVNK mutually agreed to end takeover discussions.

Earlier this month, Mastercard also said it completed its first cross-border US Treasury transaction on the XRP Ledger, underscoring the company’s growing focus on tokenized financial assets. Excluding stablecoins, the tokenization market is currently valued at more than $33.8 billion, according to industry estimates.

Total RWA market size. Source: RWA.xyz

Related: Crypto Biz: Wall Street wants more than just Bitcoin

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Bitcoin’s on-chain dynamics have shifted as miner activity shifts balance with exchange liquidity. In a notable move, BTC miner inflows to Binance surpassed 20,000 coins for just the second time this year, renewing focus on whether the market can sustain a rebound above the $75,000 area or slip into a broader corrective phase.

CryptoQuant analyst Amr Taha highlighted that roughly 21,000 BTC were moved to Binance on May 18, a level close to the 23,150 BTC sent on February 5. Such transfers are typically associated with miners seeking to convert revenue into fiat to cover operating costs, creating potential near-term selling pressure. Yet the market reaction so far has remained comparatively orderly, with the latest data showing only modest continuation rather than a sudden cascade.

Over the same window, Binance’s BTC reserves climbed to nearly 634,000 BTC by May 26, from about 618,600 BTC on May 6, according to on-chain tracking. The reserve expansion occurred without triggering a sharp downside breakout, suggesting a more tempered risk environment than some traders anticipated.

On-chain analytics from Glassnode reinforce a narrative of cooling momentum rather than panicked selling. The realized profit/loss ratio sits around 1.56, well below the 2–5 range often observed during stronger bull phases. This indicates a more balanced mix of realized gains and losses, consistent with a period of cautious buying conviction rather than exuberant risk-taking.

Glassnode also noted a softening in spot demand over the past couple of weeks. After Bitcoin rejected near the $80,000–$81,000 zone, spot volume delta slid back into net-seller territory. The takeaway: if BTC is to mount a decisive move higher, fresh spot demand will likely need to re-enter to underpin any sustained rally. Without that, the market risks drifting into the same choppy, seller-dominated conditions that capped upside earlier in the year.

“If BTC is going to push meaningfully higher from here, spot demand likely needs to step back in. Without that, the market risks drifting back into the same choppy, seller-dominated conditions that capped upside earlier in the year.”

Related coverage has also framed the price context around a critical price band. Bitcoin’s longer-term trajectory still hinges on holding above the $75,000 level, which has functioned as a robust demand zone through May and aligns with a neckline-like support on the daily chart.

Key takeaways

• Miner-to-exchange transfers exceeded 20,000 BTC for the second time this year (about 21,000 BTC on May 18), signaling ongoing mining economics but stopping short of a panic-driven dump.
• Binance’s BTC reserves rose to roughly 634,000 BTC by May 26, up from around 618,600 BTC on May 6, with no decisive downside follow-through observed yet.
• Realized profit/loss momentum cooled to about 1.56, indicating more modest buying interest relative to late-stage bull-market phases.
• Spot demand has weakened as BTC faltered after testing the upper ranges; a convincing upside move may require renewed spot buying strength to avoid a repeat of prior volatility patterns.
• Technical setup centers on the $75,000 zone; a potential head-and-shoulders pattern with a right shoulder around $78,000 could shape the near-term path, while a break below $75,000 risks testing the mid-$70,000s support.

Miner flows and exchange liquidity in a cautious climate

The May 18 miner outflow to Binance in the vicinity of 21,000 BTC punctuates a familiar theme: miners often turn to exchanges to monetize revenue or cover costs, which can translate into near-term selling pressure. The proximity of the February 5 spike to a similar magnitude underscores a recurring pattern in periods of tight mining economics or grid/network stress. However, the subsequent market response appears more constrained than in prior episodes. By late May, Binance’s growing reserves provided a buffer against abrupt price shocks, suggesting that the market absorbed the added supply without triggering an accelerated pullback.

From an exchange-liquidity perspective, the expansion in reserves accompanies a broader observation: a robust exchange stockpile can cushion a market-wide sell-off, but it also signals the potential for higher supply in a congested period if other buyers do not step in. As such, traders will watch whether reserve growth persists or if reserve withdrawals emerge, signaling a different dynamic in the flow of coins between miners, exchanges, and buyers.

Momentum and demand: on-chain signals temper the panic

The on-chain narrative aligns with a period of tempered market energy. The realized P/L ratio, a measure of the aggregate profits relative to losses realized on the network, sits within a cooler band around 1.56. That’s notably below levels seen in stronger bull moves, where the ratio often climbs well above 2, suggesting an aggressive retracing of valuations rather than a broad, confident upmove.

Spot-demand momentum has also softened. After a rebound attempt from a dip, spot volume declined, nudging the delta toward net selling territory. In practical terms, this means that, without supportive buying from spot markets, BTC may struggle to sustain a meaningful ascent beyond key resistance levels. The takeaway for traders is to monitor whether new spot demand returns, particularly from institutions or funds that anchored recent liquidity in the market.

Analysts emphasize that the health of the market’s momentum will likely hinge on whether spot buyers reenter with conviction. If demand remains constrained, the risk of a drawn-out correction or a late-cycle consolidation grows, even if miners continue to supply coins to exchanges from time to time.

Chart thesis: key levels and what could trigger the next move

From a higher-timeframe perspective, Bitcoin’s trend remains tethered to the $75,000 level. This price acts as a notable anchor, intersecting with the neckline of a pattern some analysts view as a potential head-and-shoulders formation. The proposed right shoulder has begun forming around the $78,000 region after repeated attempts to push beyond the $80,000–$81,000 area failed to consolidate into a durable rally.

A momentum lens supports a cautious stance: the daily RSI has hovered below the neutral 50 mark, signaling limited upward strength during recent rebounds. If BTC cannot sustain a move above the $75,000 threshold, the next meaningful support comes into view near $70,400, a level that can be read as a more consequential test of demand and the ability of buyers to reassert control.

Analyst notes highlight the permeability of the current setup around the $74,500 area as a critical juncture. This zone aligns with the lower boundary of Bitcoin’s 21-day Donchian channel, a metric used to identify short- to mid-term trend support and breakout zones. Holding near this lower band often indicates buyers defending a range-bound market, while a breakdown could signal mounting downside pressure and a shift in near-term sentiment.

In a recent assessment, a Bitcoin researcher flagged that the composite trend signal had shifted back into a “high bear” configuration following a three-week reversal from May’s highs near $82,500. With BTC trading just above the $74,500 band, the $74,500–$75,000 region now sits squarely at the center of market focus, where the balance between supply pressure and demand support will be tested in the days ahead.

What to watch next

The immediate path for Bitcoin hinges on two intertwined threads: miner-for-exchange flows and spot demand re-acceleration. If miners continue to monetize through exchanges, the market will rely on fresh buyers to absorb supply. Conversely, a revived wave of spot demand could relieve the immediate selling pressure and push BTC toward higher ranges, potentially challenging the $80,000 barrier again.

As always, investors should monitor the interplay between on-chain activity and price comovement, staying alert to shifts in exchange reserves, the pace of miner outflows, and the behavior of spot traders as macro headlines and market sentiment evolve. The data points in May suggest resilience in the face of pressure, but the next move will largely depend on whether demand returns with enough vigor to sustain a breakout above the pivot zone around $75,000.

After six Republican and Democratic candidates supported by cryptocurrency-backed interest groups won primaries for US House of Representatives and Senate seats in Texas, one of the biggest political action committees (PACs) said it would “aggressively back leaders” supporting crypto policies in the future.

On Tuesday, candidates notched six wins for congressional runoff primaries in Texas, supported by media spending and endorsements by the crypto industry-affiliates Fairshake, Defend American Jobs, Protect Progress, Blockchain Leadership Fund and Fellowship PACs.

Democrat Christian Menefee primaried incumbent Al Green for Texas’ 18th congressional district and Republican state Attorney General Ken Paxton won against incumbent Senator John Cornyn with more than 63% of the vote. Four other Republican candidates — Tom Sell, Alex Mealer, Jon Bonck and Carlos De La Cruz — also won in smaller districts after being the beneficiaries of thousands of dollars in media spending by Defend American Jobs.

Source: Follow The Crypto

US Federal Election Commission (FEC) records showed more than $10 million combined was spent on supportive media and ads by the crypto-aligned PACs for the six candidates. The Fairshake PAC alone reported more than $193 million in its war chest as of January. Following its spending in the 2024 election cycle, the PAC said it would use the funds to support pro-crypto candidates in the 2026 midterms.

“Rep. Green’s defeat proves that anti-crypto hostility carries real electoral consequences, making him the first Democratic incumbent this cycle to lose his seat,” said Fairshake spokesperson Geoff Vetter. “Fairshake was the difference-maker in this race, and we will continue to aggressively back leaders like Rep. Menefee across the country.”

Six states offer next test for PACs

On June 2, California, Iowa, Montana, New Jersey, New Mexico and South Dakota will hold primaries for Democratic and Republican candidates for US House and Senate seats as well as several gubernatorial races.

As of Wednesday, FEC records showed about $500,000 on spending by Protect Progress to support Democrats across the six US states: $55,000 for Mike McGuire for California’s 1st congressional district, $54,000 for Lou Correa for California’s 46th, $53,000 for Ted Lieu for California’s 36th, $56,000 for Lateefah Simon for California’s 12th, $55,000 for Zoe Lofgren for California’s 18th, $54,000 for Dave Min for California’s 57th and $163,000 for Rob Menendez in New Jersey’s 8th congressional district.

Related: Trump backs CFTC authority over prediction markets

With the recent scandal and resignation of California gubernatorial candidate Eric Swalwell, the so-called jungle primary for governor, also on June 2, has widened the field to a variety of Democratic and Republican candidates.

Candidates for California governor. Source: CBS News

California’s jungle primary is a system where all candidates for an office, regardless of party affiliation, appear on the same primary ballot. The top two vote-getters then advance to the general election, even if they are from the same political party.

In 2024, Fairshake spent about $10 million on incendiary ads targeting Democrat Katie Porter as part of her run for US Senate in California. Porter lost her 2024 primary, but is on the ballot next Tuesday as a California gubernatorial candidate, raising the question of how the crypto industry will respond to her race.

Vetter told Cointelegraph in April that the PAC doesn’t “comment on strategic decision-making, including whether to enter or not enter a race,” referring to Porter’s candidacy. Cointelegraph sought comment from Porter’s campaign but did not receive an immediate response.

As of Wednesday, no FEC filings appeared to show crypto PAC spending on ads opposing Porter or other gubernatorial candidates. However, Ripple co-founder Chris Larsen told Politico in December that he would contribute $39,200 to Porter’s campaign and the same amount to support Republican Steve Hilton.

At last look on Wednesday, bets on prediction market Polymarket favored Hilton and Xavier Becerra, at 86% and 80%, respectively. Porter had a 1% chance to advance to one of the two spots in November’s general election.

Magazine: Big Questions: Do we really only need 2–5 cryptocurrencies?

TLDR:

• Google engineer Michele Spagnuolo allegedly earned $1.2M trading on Polymarket using confidential search data.
• Spagnuolo traded under the handle “AlphaRaccoon,” placing bets on 23 Google Year in Search event contracts.
• The CFTC filed a civil complaint seeking penalties, disgorgement, and a permanent ban on Spagnuolo’s trading activities.
• Federal prosecutors unsealed a parallel criminal complaint against Spagnuolo on the same day as the CFTC filing.

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A Google software engineer faces federal charges after allegedly using confidential company data to profit on prediction markets.

The U.S. Commodity Futures Trading Commission filed a complaint on May 27, 2026, against Michele Spagnuolo, a Switzerland-based Google employee.

Spagnuolo allegedly traded event contracts on Polymarket.com using nonpublic information about Google’s 2025 Year in Search results.

The CFTC is seeking restitution, disgorgement, civil penalties, and a permanent trading ban.

How Spagnuolo Allegedly Used Google’s Nonpublic Data

Spagnuolo worked as a software engineer at Google during the relevant period. Through his role, he gained access to sensitive, nonpublic data tied to Google’s official 2025 Year in Search list. That access came with a duty to keep the information confidential and not use it for personal gain.

Between October and December 2025, Spagnuolo reportedly traded on at least 23 event contracts on Polymarket. He bought “Yes” or “No” shares on contracts like “#1 Searched Person on Google this year.” His accuracy across those trades was described as near-perfect.

Operating under the Polymarket handle “AlphaRaccoon,” Spagnuolo allegedly generated around $1.2 million in profits. That level of return, across dozens of contracts tied to nonpublic search data, drew regulatory attention.

The CFTC’s complaint was filed in the U.S. District Court for the Southern District of New York. The agency is seeking trading and registration bans, along with a permanent injunction against further violations of the Commodity Exchange Act.

Criminal Charges Filed in Parallel by Federal Prosecutors

On the same day the CFTC announced its complaint, federal prosecutors moved separately. The U.S. Attorney’s Office for the Southern District of New York unsealed a criminal complaint against Spagnuolo. The criminal charges mirror the conduct alleged by the CFTC.

CFTC Chairman Michael S. Selig addressed the case directly. “The Commission will not tolerate fraud, manipulation, or insider trading, regardless of the technology or platform that is used,” Selig said. His remarks pointed to prediction markets as an area of active regulatory focus.

David I. Miller, Director of Enforcement, reinforced that position. “Employees who are entrusted with confidential business information cannot misappropriate that information for personal financial gain,” Miller stated.

He described the Division as actively policing insider trading across prediction markets and other markets within CFTC jurisdiction.

Miller also noted the broader scope of the effort. “The Division is a cop on the beat in policing the illegal use of inside information in the prediction markets,” he added. That framing positions this case as part of a wider enforcement pattern, not an isolated action.

The CFTC credited the U.S. Attorney’s Office for its assistance in the matter. Together, the civil and criminal actions mark one of the more prominent insider trading cases tied to prediction market activity to date.

The case sets a clear precedent for how regulators view the misuse of proprietary data in emerging contract markets.