The UK’s financial watchdog has warned Premier League Football clubs that they could be exposed to potential money laundering violations if they continue to partner with unauthorised crypto firms.

The Financial Conduct Authority (FCA) today warned all UK football clubs, while noting that it was mainly writing to clubs in the country’s top division signing sponsorship deals with unregistered financial firms.

It claimed, “These unauthorised firms may be breaching UK financial services laws by providing financial services in the UK without authorisation. Fans using these firms risk losing all their money.”

Among the clubs engaged in sponsorships with unauthorised crypto firms are Manchester City, which is partnered with Socios, OKX, and Axi.

Chelsea, meanwhile, is partnered with crypto exchange BingX while Newcastle United is partnered with VT Markets, a crypto firm currently on the FCA’s warning list. 

Mastercard announced its plans to expand its settlement capabilities to let issuers and acquirers settle some card transactions using regulated stablecoins. 

On Wednesday, Mastercard said the new capabilities will include intraday, weekend and holiday card settlement, supporting both fiat currencies and onchain settlement through regulated stablecoins. The company said the new options are designed to give its partners more flexibility in managing settlement liquidity and timing. 

The expansion shows stablecoins moving deeper into mainstream financial infrastructure as major payments networks test tokenized dollars for settlement. It follows Mastercard securing a New York BitLicense in May, allowing its US transaction services unit to conduct regulated digital asset business activity in the state. 

The stablecoin settlement option will support Circle’s USDC, Paxos-issued PYUSD, USDG and USDP, Ripple’s RLUSD and SoFi’s SoFiUSD. Mastercard said the stablecoins will be enabled across supported blockchain networks, including Arbitrum, Base, Canton, Ethereum, Polygon, Solana, Tempo and XRPL.

ARQ, formerly known as DolarApp, CBW Bank, Cross River, Lead Bank and Nuvei are expected to be among the first to support stablecoin settlement optionality in the United States and Latin America, Mastercard said. 

The role stablecoins would play within Mastercard’s ecosystem. Source: Mastercard

Payment firms deepen stablecoin integrations

Mastercard’s settlement expansion with stablecoins follows a series of stablecoin-related moves from major payments and remittance companies. 

Visa said in April that its stablecoin settlement pilot reached a $7 billion annualized run rate, up 50% from the previous quarter, after adding five blockchains to bring its supported settlement networks to nine. The company said the expansion was aimed at giving issuers and acquirers more ways to settle with the network as stablecoins move into mainstream payment flows. 

The stablecoin market is currently valued at about $320 billion.

Related: Solana lands Mastercard, Western Union on new dev platform

The remittance sector has also dived deeper into stablecoins. On Tuesday, MoneyGram launched MGUSD, a USD stablecoin on Stellar, saying that the token would support treasury management settlement and currency trading in the United States, before a broader rollout worldwide.

In early May, Western Union has also launched its US dollar-denominated USDPT stablecoin on Solana, rolling out in the Philippines and Bolivia at launch, with plans to expand in 2026. 

Magazine: Korea’s first memecoin rug-pull case, China’s crypto rules review: Asia Express

After briefly falling below $66,000 on Wednesday, bitcoin BTC$66,784.43 is trading near the bottom of the Power Law corridor, a level that has historically come shortly before rebounds in the price of the largest cryptocurrency.

The model, popularized by physicist Giovanni Santostasi and refined by Porkopolis Economics, plots bitcoin’s price against time on a logarithmic scale and suggests that growth slows naturally as the network matures. It has tracked bitcoin’s price trajectory for more than a decade.

Unlike traditional cycle-based models that focus on the rate at which new bitcoin is created — it’s cut by 50% roughly every four years — the Power Law argues that bitcoin follows a long-term mathematical trend similar to patterns observed in nature, where growth decelerates over time.

According to checkonchain data, the Power Law Oscillator shows that when measured against the model, bitcoin has been more expensive than it is today for roughly 95.6% of its trading history.

Previous visits to these levels have coincided with periods of extreme market stress, including the March 2020 pandemic-driven selloff and the collapse of crypto exchange FTX in November 2022. Both events pushed bitcoin toward the lower edge of the model before significant recoveries followed.

While the Power Law offers no guarantee the floor will hold again, long-term investors view the current reading as a sign that bitcoin is trading near one of its deepest historical discounts relative to trend.

Key Takeaways

• Shares of XOS skyrocketed more than 200% during after-hours trading on Tuesday, jumping from $2.23 to $7.16.
• The company unveiled its “Power Hub” product line — a containerized, megawatt-class energy storage solution that operates independently from traditional power grids.
• Delivered in standard shipping containers, the system can activate a location within days, eliminating the typical 3–7 year grid connection process.
• Power Hub configurations range from 1.2 MWh to 4 MWh capacity, leveraging a proven platform with 250+ MWh already operational across 1,400+ installations throughout North America.
• In the PJM market alone, grid connection bottlenecks drove capacity auction costs to $14.7 billion in 2025, a dramatic increase from $2.2 billion just two years earlier.

Xos Inc. (XOS) experienced a spectacular after-hours rally on Tuesday, with shares soaring over 200% from their $2.23 closing price to reach $7.16, following the company’s introduction of an innovative energy storage solution aimed at data centers and industrial facilities operating without grid connectivity.

Xos, Inc., XOS

This dramatic movement positioned XOS to begin trading at levels not seen in nearly two years, claiming the top spot among percentage gainers on Stocktwits heading into Wednesday’s early trading hours.

The driving force behind this surge was the after-market unveiling of the “Power Hub” product family — a factory-assembled, on-site energy storage platform engineered to supply megawatt-level electricity without depending on traditional grid infrastructure.

The offering includes three distinct capacity options, spanning 1.2 MWh through 4 MWh, and utilizes the same proven technology foundation that powers Xos’s current mobile electric vehicle charging solutions.

CEO Dakota Semler minced no words in describing the innovation: “This is not a battery. It is a deployable power plant.”

Semler emphasized that the system was developed to arrive via conventional trucking, operate without requiring microgrid control systems, and enhance both the cleanliness and efficiency of fuel-based power generation.

Multi-Billion Dollar Grid Bottleneck Crisis

The product’s market entry addresses an increasingly critical infrastructure challenge. Within the PJM region — among America’s most significant power markets — grid connection delays resulted in $14.7 billion in consumer costs during a single 2025 capacity auction. This represents a staggering jump from the $2.2 billion recorded two years prior.

Conventional grid connection timelines typically extend from three to seven years. Xos’s Power Hub, packaged in standard intermodal shipping containers, aims to reduce that timeframe to mere days.

The International Energy Agency forecasted in 2025 that worldwide data center power consumption would approximately double by 2030, propelled primarily by AI infrastructure. Within the United States, data centers have already contributed to half of all new electricity demand growth.

Proven Track Record Behind the Technology

According to Xos, the company has successfully deployed more than 250 MWh of energy storage capability throughout over 1,400 installations across North America using its current platform, providing the Power Hub with an established technological foundation.

Financial Snapshot

Notwithstanding the dramatic after-hours jump, the company maintains a modest market capitalization of just $27.03 million, positioning XOS firmly in small-cap territory.

The equity’s 52-week trading band extends from $1.60 to $5.60, and throughout the preceding 12 months, XOS had declined 29.21% before Tuesday’s explosive movement.

At the moment of the surge, shares were trading at approximately 16% of the annual range — substantially nearer to the yearly floor than the ceiling.

The stock’s Relative Strength Index (RSI) registered 63.24 prior to the announcement, with Benzinga’s technical analysis suggesting short and intermediate-term bullish momentum combined with long-term consolidation patterns.

The premarket momentum extended into Wednesday’s opening session, with XOS climbing nearly 244% at the time of publication.

Global payment networks Stripe, Visa and Mastercard are close to introducing a new stablecoin platform, according to three people familiar with the plans.

U.S.-listed cryptocurrency exchange Coinbase (COIN) is also looking into the possibility of participating in the stablecoin platform, one of the people said.

Coinbase, Stripe and Visa declined to comment. Mastercard had not responded to requests for comment by publication time.

Stablecoins, one of the busiest areas of crypto, have become a focal point for the large card networks and payments players. The total stablecoin market cap is about $325 billion, according to CoinGecko data. The market is dominated by Tether’s USDT, at $115 billion.

Stripe acquired stablecoin infrastructure firm Bridge in late 2024 for $1.1 billion. Mastercard, which acquired stablecoin firm BVNK earlier this year, said this week it plans to expand always-on stablecoin settlement.

In April, Visa announced it was expanding a stablecoin settlement pilot to nine blockchains, adding Base, Polygon, Canton Network, Arc and Tempo to existing support for Ethereum, Solana, Avalanche and Stellar.

Late last year, Coinbase announced a white-label stablecoin service, as well as the Coinbase Business service for stablecoin payments.

Since August 2023, Coinbase and Circle Internet (CRCL), issuer of the second largest stablecoin, have had a revenue-sharing agreement, which comes up for renewal in August this year. The token, USDC, has a market cap of $76 billion.

Under the deal Coinbase keeps 100% of the interest income generated from USDC held on the exchange, while splitting revenue 50/50 for USDC circulating across all off-platform and decentralized finance (DeFi) ecosystems.

Quick Overview

• Palo Alto Networks delivered Q3 adjusted earnings of $0.85 per share, surpassing Wall Street’s forecast of $0.80.
• Total revenue reached $3 billion, marking a 31% year-over-year increase and exceeding projections of $2.94 billion.
• Backlog expanded 36% to reach $18.4 billion, outpacing analyst predictions.
• PANW shares surged more than 10% after hours before retreating as market participants recognized acquisition contributions to growth.
• Multiple Wall Street firms increased their price targets, including Evercore ISI to $375 and Stifel to $330.

Palo Alto Networks (PANW) unveiled its fiscal 2026 third-quarter performance on Tuesday, exceeding expectations across all key financial indicators.

Adjusted profit per share registered at $0.85, outperforming analyst projections of $0.80 and improving from $0.80 during the corresponding period last year. Total sales hit $3 billion, surpassing the anticipated $2.94 billion.

Shares initially spiked over 10% during after-hours trading Tuesday evening. However, by Wednesday’s premarket session, most gains had evaporated, with the stock declining approximately 4.8%. Recent trading placed shares around $297.18, hovering just beneath the 52-week peak of $302.95.

Palo Alto Networks, Inc., PANW

Total sales advanced 31% compared to the prior year. When excluding acquisitions, organic revenue expansion came in at 14%.

The company’s order backlog climbed 36% to $18.4 billion, also exceeding analyst consensus forecasts. Next-Generation Security annual recurring revenue expanded 60% on a year-over-year basis.

Chief Executive Nikesh Arora attributed the strong performance to “an acceleration in organic bookings momentum, the sustained tailwinds from our platformization strategy, and surging cybersecurity needs as AI transitions from experimental stages to enterprise-wide production.”

M&A Activity Fuels Expansion

The difference between total and organic growth numbers highlights the impact of multiple acquisitions being integrated simultaneously. The most significant transaction involved identity security company CyberArk, which Palo Alto purchased through a combination of cash and stock that finalized in February, valuing CyberArk at approximately $25 billion.

Product sales climbed 31%, powered by firewall orders, XSIAM solutions, artificial intelligence offerings, and SASE products, alongside contributions from both CyberArk and Chronosphere acquisitions.

Executives increased fiscal 2026 fourth-quarter guidance beyond the magnitude of the quarterly beat. Management indicated that both organic and acquisition-related expectations for Q4 rose above the beat amount, although specific organic versus inorganic breakdowns were not disclosed.

Wall Street Upgrades Price Forecasts

Several brokerage firms elevated their price objectives after reviewing the quarterly results.

Evercore ISI boosted its target to $375 from $320. Cantor Fitzgerald increased its objective to $340 from $285. Wells Fargo adjusted upward to $325 from $285, while Citizens lifted its target to $320 from $250 alongside a Market Outperform rating. Stifel raised its price target to $330 from $275 while maintaining a Buy recommendation, highlighting robust execution across both organic initiatives and acquisition-driven expansion.

The CyberArk transaction incorporates identity security capabilities into Palo Alto’s comprehensive platform. AI agents — applications leveraging AI models to execute sophisticated tasks — need access to confidential information and external communications, establishing new vulnerability points. Identity management is viewed as a critical defensive mechanism.

Okta, a rival in the identity security space, witnessed its stock surge 30% following its earnings release last week as investors reacted positively to agent-identity software opportunities. CyberArk unveiled comparable software in late 2024, which is now being integrated into Palo Alto’s expanded ecosystem.

HYPE price has climbed to fresh record highs amid growing demand for Hyperliquid investment products and a high-profile short squeeze that forced a major bear to abandon a $110 million position.

According to data from crypto.news, Hyperliquid (HYPE) price traded near $69.70 at press time on June 3, up more than 12% over the past week and nearly 70% over the past month. The token briefly climbed to a new all-time high near $75 yesterday as traders responded to a string of institutional developments surrounding the ecosystem.

Grayscale’s launch of the Hyperliquid Staking ETF has emerged as the latest catalyst. The product arrived after intense competition among issuers seeking exposure to HYPE, with Grayscale reportedly undercutting rivals through a 0.29% management fee.

The launch followed earlier entries from the 21Shares Hyperliquid ETF and Bitwise Hyperliquid ETF, which together have attracted more than $136 million in net inflows, according to SoSo Value data.

Those funds now collectively hold roughly 1% of HYPE’s total market capitalization, highlighting growing institutional participation in the asset. Recent SEC filings have added to the narrative after major financial firms disclosed exposure to Hyperliquid-related investment products, reinforcing the perception that HYPE is increasingly attracting traditional capital.

Hyperliquid’s tokenomics continue to amplify the impact of those inflows. The protocol allocates over 97% of platform revenue toward buying back HYPE from the open market, creating persistent demand as trading activity expands.

Rising volumes across crypto, commodities and prediction markets have increased the size of those purchases, tightening available supply even as investor interest accelerates.

Institutional demand and platform activity support the rally

Trading activity on Hyperliquid has expanded well beyond cryptocurrency perpetual futures. Recent growth in crude oil perpetual contracts and macro-linked prediction markets has attracted traders seeking around-the-clock exposure while traditional markets remain closed.

Platform adoption has translated directly into stronger fundamentals. Per DefiLlama, the total value locked on the Hyperliquid network has climbed to approximately $5.82 billion, one of the highest levels in the protocol’s history. Higher platform usage generates additional fees, which in turn feed the protocol’s buyback system and reinforce demand for HYPE.

A major sentiment shift unfolded in derivatives markets this week after a well-known whale known as Loracle closed his entire short position at a realized loss of roughly $46.46 million. Shortly after exiting the trade, he opened a 2x leveraged long position worth approximately $5.73 million.

The reversal removed one of the market’s largest public bearish bets and reinforced the view among traders that institutional demand and buyback activity continue to overpower selling pressure.

Technical setup places $100 within reach

On the daily chart, HYPE has entered price discovery after breaking above its previous record high near $75.8. The move completed a major continuation breakout and pushed the token beyond the upper boundary of its recent trading range.

Momentum indicators remain firmly bullish. The MACD continues to print a positive crossover while the histogram has expanded to its highest level in months. At the same time, the Aroon Up indicator stands above 85% while Aroon Down has fallen to zero, highlighting the strength of the current uptrend.

According to crypto analyst Ali Martinez, HYPE has invalidated earlier sell signals and may have room to extend its rally toward higher levels.

“With prior sell signals invalidated, I’m watching $97 and $163 as potential upside targets.”

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Fibonacci extension levels also support the bullish outlook. Measuring the advance from the January low near $20.5 to the recent breakout places the 1.618 extension at approximately $110, giving bulls a clear technical path beyond the psychologically important $100 level.

On the downside, traders will be watching the former breakout zone around $75 as the first major support. A drop below that level could expose the next support areas near $64 and $55, corresponding to the 0.786 and 0.618 Fibonacci retracement levels.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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