Crypto World
ETH/BTC Breakout Aligns With Rising Ether Demand
Ether looks poised to gain a price advantage over BTC as the ETH/BTC ratio soars to a 10-week high.
The ETH/BTC ratio has climbed to a 10-week high, suggesting that Ether (ETH) is gaining momentum against Bitcoin (BTC) in the charts.
Ether’s footing has improved as clearer DeFi regulations from the US Securities and Exchange Commission (SEC) were applauded by the crypto community. At the same time, Bitmine has added 71,524 ETH to its Ether treasury on April 13.
The ETH/BTC ratio broke through a descending trendline resistance that had been in place since August 2025. A daily close above this trend line marks the first breakout in months.
The pair trades above the 50-day and 100-day exponential moving averages at 0.0310, both of which are now acting as dynamic support. The compression between these averages points to a possible bullish crossover if the trend continues.
XWIN Research noted that a stronger underlying shift in Ether is driven by an April 13 SEC staff statement that explained how DeFi front-ends and wallet interfaces can operate without broker-dealer registration under defined conditions, such as no custody and neutral fee structures. XWIN Research added,
“On-chain data supports this shift. Active addresses are trending upward, indicating renewed network usage. Meanwhile, the Coinbase Premium Gap is improving, suggesting a recovery in U.S.-driven demand, often linked to institutional flows.”
As the ETH/BTC pair shows strength, corporate-level accumulation continues to accelerate. Bitmine now holds 4.87 million ETH, accounting for over 4% of the circulating supply, after adding 279,296 ETH over the past 30-days.
Related: Tom Lee says ‘mini crypto winter’ is over, sees Ether above $60K
Will an Ether bull market resume?
Crypto analyst GugaOnChain noted a sharp divide in ETH futures positioning. The global open interest reached $16.37 billion on April 14, sitting well above its 14-day average. Funding rates across exchanges remain negative at -0.0013%, indicating a short positioning against the rally.
However, open interest climbed to $6.04 billion, a 10.47% daily increase on Binance. Funding rates on the exchange turned positive at 0.015%, signaling rising long positioning.
This creates a split between global shorts and Binance-based longs. The analyst added,
“We face an extreme imbalance. With 40% of global ETH Open Interest on Binance, the fuel for a violent move is ready.”
Related: Ether holders back in profit as ETH price aims for rally to $3K
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
The developer of Claude has updated its terms of service, warning against the third-party sale or transfer of its private equity.
TLDR
- Pulse Biosciences (PLSE) shares climbed 16.8% Tuesday following a $13.3 million stock acquisition by two key executives.
- Co-Chairman Robert Duggan acquired 660,233 shares totaling approximately $13 million, while CEO Paul LaViolette purchased 15,000 shares for roughly $295,000.
- Both transactions occurred through the company’s at-the-market equity program during an approved trading period.
- The company specializes in nPulse nanosecond pulsed field ablation technology for atrial fibrillation treatment.
- Year-to-date performance shows PLSE shares climbing nearly 39%, with the company valued at $1.3 billion.
Shares of Pulse Biosciences (PLSE) rallied 16.8% Tuesday following the announcement that two top-level executives purchased a combined $13.3 million worth of company stock.
The transactions, executed by Co-Chairman Robert Duggan and CEO Paul LaViolette on May 11, 2026, took place during an authorized trading window established by the company.
At press time, shares were trading approximately 13% higher, pushing the year-to-date advance to around 39%.
Duggan dominated the buying activity, securing 660,233 shares for about $13 million. LaViolette contributed by acquiring 15,000 shares valued at approximately $295,350.
Collectively, the executives obtained 675,233 shares via Pulse Biosciences’ at-the-market offering program.
The ATM mechanism allows the company to issue shares directly into public markets. When executives use this avenue to purchase rather than the company to sell, it typically signals strong internal conviction about future prospects.
What Makes This Insider Activity Noteworthy
Insider acquisitions of this magnitude are uncommon. When two senior leaders collectively invest $13.3 million, markets typically pay attention — and respond accordingly.
The timing follows closely behind the company’s Q1 earnings release and new clinical data regarding its nPulse catheter technology.
Wall Street reactions to those developments were split. Some analysts highlighted encouraging clinical performance in European markets and accelerated U.S. pivotal trial schedules. Others pointed to negligible revenue generation, expanding losses, and significant cash consumption.
Despite generating limited commercial sales, Pulse Biosciences commands a $1.3 billion market capitalization.
Understanding PLSE’s Core Business
The company’s flagship technology leverages nanosecond pulsed field ablation — administering extremely brief electrical pulses to eliminate targeted cells while preserving adjacent tissue structures.
Its main therapeutic focus addresses atrial fibrillation, a widespread cardiac rhythm abnormality.
Management has prioritized expediting its U.S. regulatory pathway, with European feasibility trial results serving as an encouraging indicator according to industry analysts.
Daily trading volume for PLSE averages approximately 294,600 shares. Current technical analysis indicators signal a “Strong Buy” rating.
TipRanks’ AI model assigns PLSE a Neutral rating overall, noting that financial weaknesses are counterbalanced by a healthy balance sheet and promising clinical development pipeline.
With a year-to-date gain approaching 39%, the stock significantly outperforms broader market indices as 2026 reaches its midpoint.
The Senate Banking Committee released a 309-page text of the Digital Asset Market Clarity Act of 2025 (CLARITY Act), expanding the January 278-page draft.
The text arrives ahead of a key Thursday markup vote. Committee members have until tomorrow to submit amendments before the 10:30 AM ET executive session.
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What Changed in the Clarity Act Draft
The CLARITY Act cleared the House back in July 2025 with broad bipartisan backing and has since been working its way through extended Senate negotiations. The January text faced significant pushback and ultimately stalled, with the treatment of stablecoin yield emerging as a central sticking point.
Then, earlier this month, Senators Thom Tillis and Angela Alsobrooks unveiled a bipartisan compromise on stablecoin rewards. The May rewrite preserves the nine-title structure but expands the bill by 31 pages.
The Tillis-Alsobrooks compromise allows regulated stablecoin issuers to offer certain forms of yield or rewards, but under tighter limits and oversight designed to stop stablecoins from functioning like unregulated bank deposits or securities.
Section 404 now contains the Tillis-Alsobrooks compromise. The bill also adds a new Section 109 that applies insider trading laws.
Another new addition is the Section 702 Insolvency Safe Harbor, which allows counterparties to close out digital commodity positions and access collateral outside standard bankruptcy proceedings (mirroring protections already available for conventional derivatives).
Section 906 Effective Date, which sets a general 360-day effective date after enactment, with rulemaking-dependent provisions taking effect either 360 days after enactment or 60 days after the final rule is published, whichever comes later.
“One interesting worth noting now is the inclusion of the Build Now Act (sec 904),” Alex Thorn, Head of Firmwide Research at Galaxy Digital, wrote.
Moreover, the bill includes substantial revisions to Title I (Sections 102, 104, and 108).
However, the bill, like its January counterpart, leaves ethics provisions as the remaining sticking point. Elizabeth Warren has stressed that ethics safeguards that would prevent senior government officials from financially benefiting from cryptocurrencies remain a priority.
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The post Senate Banking Drops New 300-Page CLARITY Act Draft: What’s Changed Since January appeared first on BeInCrypto.
Kraken introduced Flexline, a lending product that accepts cryptocurrency as collateral at 10–25% APR fixed rates, targeting crypto-native businesses and high-net-worth individuals excluded from traditional banking.
Payward, the parent company of crypto exchange Kraken, is working with asset manager Franklin Templeton to expand the use of tokenized financial products for institutional investors.
The companies said Tuesday they will develop a range of blockchain-based investment offerings, including tokenized yield products, tokenized equities and custody services tied to digital assets.
The move comes as large financial firms explore testing tokenized versions of conventional assets. BlackRock, Fidelity and JPMorgan have all expanded blockchain-related financial products over the past two years, particularly tokenized Treasuries and money market funds.
Tokenization refers to representing traditional financial assets such as stocks, bonds or money market funds on blockchain networks, where they can be traded and settled digitally. Supporters argue the approach can reduce settlement times, expand market access and allow assets to move more easily between financial platforms.
The collaboration joins two firms that have taken different routes into tokenized finance. Franklin Templeton has spent years building blockchain-based investment products. Payward has focused on crypto trading infrastructure through Kraken and its xStocks tokenized equities platform, which the company says has processed more than $30 billion in trading volume since starting up in 2025.
The firms plan to explore actively managed tokenized investment products that could trade onchain and become available to institutional investors and, in some jurisdictions, retail Kraken users.
Kraken also plans to integrate BENJI, Franklin Templeton’s suite of tokenized money market funds, into its platform. The funds could serve as collateral or cash management tools for institutional trading clients seeking blockchain-based alternatives to traditional treasury operations.
Analysts view tokenized Treasury funds as one of the fastest-growing sectors in digital assets because they offer yields tied to government securities while operating on blockchain rails. In practice, that can allow institutions to move collateral around the clock instead of waiting for banking hours or multiday settlement periods.
Read more: Kraken parent Payward seeks fresh funding at $20 billion valuation ahead of planned IPO
Blockchain analytics firm Elliptic said it raised $120 million in fresh funding from investors including Nasdaq Ventures and Deutsche Bank as financial institutions ramp up spending on crypto compliance and security infrastructure.
The fundraising round, led by growth equity firm One Peak, values the London-based company at $610 million, according to a Tuesday press release. The British Business Bank also participated.
The investment comes as crypto markets face a wave of security breaches and exploits that have exposed weaknesses in both decentralized finance (DeFi) protocols and centralized platforms. Hackers have stolen nearly $3 billion in crypto assets since the beginning of 2025 through smart contract exploits, phishing attacks and cross-chain bridge breaches, and regulators are pushing exchanges and banks to tighten anti-money laundering controls.
As a result, blockchain analytics firms have become critical infrastructure providers for institutions entering the digital asset industry. Elliptic’s software tracks crypto transactions across dozens of blockchains and flags wallets linked to sanctions, fraud, ransomware or illicit finance.
Banks, exchanges and government agencies use these tools to monitor transactions and comply with financial crime rules. The company said two-thirds of global crypto trading volume flows through exchanges that already use its services.
Demand for those systems has accelerated alongside the growth of stablecoins and tokenized assets, which are increasingly moving into mainstream finance. Stablecoins accounted for roughly $33 trillion in transactions last year, according to the company.
Large financial firms are also exploring tokenized securities and blockchain-based settlement systems, raising the stakes for compliance providers that can monitor activity across public blockchains in real time. At the same time, artificial intelligence (AI) tools are making attacks cheaper and faster, forcing a rethink of how crypto systems stay secure.
Elliptic said the new funding will be used to expand its AI-driven monitoring and risk analysis tools as institutional adoption of digital assets grows.
“One of the things that we will be accelerating with the funding is our agentic product roadmap,” CEO Simone Maini told CoinDesk. “What that means is building and launching agents that sit on top of Elliptic’s dataset to be able to automate a lot of what is otherwise highly manual, repetitive tasks performed by compliance analysts.
“That means those that that those precious resources can be redeployed to deep diving and investigating financial crime where they need to,” she said.
BlackRock has filed for a new tokenized fund structure with the SEC, selecting Securitize infrastructure for the second time after BUIDL’s $2.3B success.
Crypto World
The battle for the digital euro is heating up as central bankers clash over how to take on Tether
France’s central bank deputy governor called Tuesday for the “mobilization of all relevant European players, public and private,” to develop tokenized money.
Beau’s comments are in stark contrast with European Central Bank (ECB) President Christine Lagarde’s recent speech in which she said that “the case for promoting euro-denominated stablecoins is far weaker than it appears.”
While Lagarde described the $310 billion privately-issued stablecoin market, currently dominated by Tether’s USDT and Circle’s USDC, as instruments that “risk amplifying the very vulnerabilities we are trying to overcome,” Beau told CoinDesk that private sector solutions are necessary for the region’s economic development.
The different views, however, reveal a growing concern in Europe over the “digital dollarization.” With a stablecoin sector projected to rise to the trillions of dollars in the coming years, a lack of euro-pegged currencies could force European capital into dollar-backed assets, potentially eroding the euro’s global influence and monetary sovereignty.
“To ensure a sound development of tokenized finance in Europe, its payment and settlement asset pillar should be in euro and build on the solid foundation of our current two-tier monetary system,” Beau said in an interview with CoinDesk.
The central banker outlined a “triple objective” for the region, which requires the European Union (EU) to adapt central bank money services, develop “pan-European solutions in tokenized private money issued by regulated financial institutions,” and strengthen the bloc’s Markets in Crypto-Assets Regulation (MiCA).
Beau’s stance aligns with Qivalis
Beau’s stance aligns with Qivalis, a group of 12 major European banks, including ING, BBVA, and BNP Paribas, which plans to launch a private digital euro later this year.
Qivalis CEO Jan-Oliver Sell recently told CoinDesk that without a liquid onchain euro, “the only alternative is the U.S. dollar,” which he described as a “risk to Europe’s financial and digital sovereignty.”
Lagarde agrees with the need for digital asset alternatives to dollar-pegged stablecoins, warning that USDT and USDC pose “financial stability risks” for Europe and could “transmit stress to the underlying asset markets during periods of turmoil.”
However, while Beau advocates for immediate private-sector mobilization to capture market share, Lagarde favors a central bank digital euro, which in previous statements she suggested would be ready by 2029.
Beau noted that the Eurosystem is already moving to provide native settlement options. “A first deliverable will become available by the end of this year, with the opening of our wholesale central bank money service in tokenized form,” he said, referencing projects such as Pontes.
The opposing views between Lagarde and Beau come as U.S. dollar-pegged tokens account for 98% of the stablecoin market.
While Lagarde argues that stablecoins, “do not confer the unconditional finality that central money does,” Beau maintains that public and private efforts “should complement and support each other” to ensure the euro remains a viable settlement instrument in an increasingly tokenized global economy.
Crypto World
Ripple Price Analysis: XRP Retakes Crucial Resistance, Is the Breakout Finally Starting?
XRP is trading at $1.45 as the second week of May is underway, and for the first time in several months, the technical picture carries a genuine sense of compression and potential energy.
A symmetrical triangle that has been forming since February is now at its apex, with the price breaking above the upper boundary and the RSI climbing to above 50. The broader market’s momentum provides a backdrop that XRP has not had the luxury of in most prior setups this cycle.
Ripple Price Analysis: The USDT Pair
Since February, XRP has been carving out a symmetrical triangle on the daily chart, formed by a series of lower highs and higher lows converging into an increasingly tight range. The upper boundary sits around $1.43 and has been broken to the upside over the weekend.
The higher boundary of the large descending channel and the 100-day moving average (located around the $1.40 mark) have both been broken as well. With the RSI recovering and building momentum above 50, almost all signals point to a potential surge in the coming weeks.
A daily close above the $1.50 psychological level would confirm the bullish technical development and open the path toward the next significant zone at $1.80, where the 200-day moving average is also located. On the contrary, a rejection and drop back below $1.40 would invalidate the pattern entirely and put the $1.20 February low back in immediate focus.
The BTC Pair
The XRP/BTC pair has also staged a meaningful recovery from the deeply oversold extreme reached in early May, when the RSI touched approximately 25. From the lows near 1730–1740 sats, the market has bounced back to 1800 sats, now testing the horizontal resistance zone formed by the February low. The RSI has also recovered to the 45–50 range, confirming the oversold relief bounce, while also demonstrating a clear bullish divergence.
The 1800 sats resistance zone is the first real test of this bounce. A clean breakout and close above it would open the path toward the 2000 sats area, where the 100-day moving average is also located at the moment. That, in turn, remains the minimum threshold required to suggest XRP is beginning to recover ground against Bitcoin rather than simply bouncing from an extreme.
Still, the broader downtrend on this pair is intact, as both the 100-day and 200-day moving averages continue to decline well above the price, and until one of them is reclaimed, any BTC-relative gains remain corrective rather than structural.
The post Ripple Price Analysis: XRP Retakes Crucial Resistance, Is the Breakout Finally Starting? appeared first on CryptoPotato.
Shopping giant eBay has rejected video game retailer GameStop’s ambitious $56 billion takeover offer, leaving the latter to decide whether it wants to walk away, raise the bid or take the fight directly to shareholders.
EBay’s board called the half-cash, half-stock offer “neither credible nor attractive” on Tuesday, per Reuters, citing doubts around financing and arguing the company is better positioned under its current management. The rejection was widely expected. EBay has traded well below GameStop’s $125-per-share bid since the offer surfaced, a sign investors were not convinced the deal could close.
That puts GameStop’s bitcoin position back in the conversation, as CoinDesk reported earlier this month.
The cultish firm holds roughly $368 million worth of bitcoin exposure via a covered-call options strategy. It shifted nearly all of its 4,709 BTC to institutional brokerage Coinbase Prime, as a filing showed in March, turning the position into a receivable rather than directly held bitcoin.
GameStop’s offer was built around $9.4 billion of cash and liquid investments, plus up to $20 billion in debt financing from TD Bank. But that financing is contingent on the combined company maintaining an investment-grade rating, and Moody’s has already warned the deal would be credit negative for eBay. Raising the offer or going hostile would likely make the financing math more challenging.
Cohen has previously framed the eBay deal as “way more compelling than bitcoin,” leaving open the question of whether GameStop’s BTC position could be unwound if more cash is needed.
Selling it would not fund the deal by itself, but it is one of the few discretionary assets GameStop can point to as it tries to convince investors the bid is real.
The market remains skeptical, however. EBay shares slipped about 1% to $107 before the bell Tuesday, still far below the offer price, while GameStop fell 4%.
The deal previously drew pushback from parts of GameStop’s own investor base.
Michael Burry, the investor made famous by The Big Short, sold his stake after the bid and warned that buying eBay could saddle GameStop with debt and dilute shareholders.
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