• BingX recorded 565 new perpetual listings since 2025, averaging 35 new contracts monthly.
• The report identified BingX as having one of the strongest market share growth trajectories.
• BingX led in new listings of AI-related assets.

BingX, a leading cryptocurrency exchange and Web3-AI company, today announced a partnership with CoinGecko for the release of the 2026 State of Crypto Perpetuals Report, an in-depth study examining the evolution of the perpetuals market across centralized and decentralized exchanges.

The report identified accelerating growth in trading tied to tokenized real-world assets (RWAs), AI-linked markets, and multi-asset products, trends that closely align with BingX’s leadership in multi-asset trading.

Moreover, the report indicated that trading related to RWAs accelerated sharply in 2026, with first-quarter volumes already surpassing total 2025 levels.

It also highlighted growing traction for stock perpetuals and other traditional finance-linked products as traders increasingly seek continuous access to diversified markets through crypto-native infrastructure.

According to CoinGecko’s 2026 State of Derivatives Report, BingX Experienced Strong Growth:

• #2 Perpetual Listings Globally: BingX recorded 565 new perpetual listings since 2025, averaging 35 new contracts monthly, and among the highest number of new listings of any exchange.






• Fastest Derivatives Growth Into 2026: The report identified BingX as having one of the strongest market share growth trajectories, increasing its derivatives market share by 58% entering 2026 and YoY growth exceeding 66%, bucking the overall trend and driven by large RWA asset growth.






• BingX TradFi Suite Expansion: BingX expanded its RWA perpetual offerings with tokenized equity products tied to global companies, including major stocks.






• AI-Related Perpetual Markets: BingX led in new listings of AI-related assets, which represented the largest category of new BingX perpetual listings, totaling 111 new markets.

Reflecting the company’s Infinite Vision strategy of delivering early access to trending narratives and new market opportunities, BingX has also expanded into alternative investment exposure through the launch of SpaceX pre-IPO and OpenAI pre-IPO perpetual trading.

BingX also introduced EventX to its Futures lineup, alongside Standard & Perpetual Futures, Copy Trading, and TradFi Markets.

EventX is an innovative contracts product that enables users to trade on the outcomes of major global events and digital assets.

Together, these developments reflect BingX’s broader vision of building a unified multi-market trading environment that bridges crypto and traditional finance while evolving alongside changing user and market demands.

About BingX 

Founded in 2018, BingX is a leading crypto exchange and Web3-AI company, serving over 40 million users worldwide.

Ranked among the top five global crypto derivatives exchanges and a pioneer of crypto copy trading, BingX addresses the evolving needs of users across all experience levels.

Powered by a comprehensive suite of AI-driven products and services, including futures, spot, copy trading, and TradFi offerings, BingX empowers users with innovative tools designed to enhance performance, confidence, and efficiency.

BingX has been the principal partner of Chelsea FC since 2024, and became the first official crypto exchange partner of Scuderia Ferrari HP in 2026.

For media inquiries, please contact: [email protected]

For more information, please visit: https://bingx.com/

This article is authored by a third party, and CoinJournal does not endorse or take responsibility for its content, accuracy, quality, advertisements, products, or materials. Readers should independently research and exercise due diligence before making decisions related to the mentioned company.

• Mantle price rose to near $0.70, supported by rising volume.
• Daily indicators (RSI, MACD) favor short-term upside, but the price remains below a key downtrend line.
• Key resistance looms at $0.71 and support at the $0.60-$0.57 zone.

Mantle climbed nearly 10% on Thursday, reaching intraday highs above $0.69 as a broader altcoin rebound lifted market sentiment.

The move mirrored gains across several mid-cap projects, including Hyperliquid, Zcash, and NEAR, and was accompanied by increased trading volume and renewed attention toward real-world asset (RWA) integrations within Mantle’s ecosystem.

While the technical picture supports further short-term upside, bears remain active near the intraday peak, and a pullback cannot be ruled out.

Mantle price retests barrier near $0.70

The MNT token’s intraday highs marked a decisive retest of the key psychological and technical resistance level at $0.70.

The move comes as bulls attempt to secure a second consecutive green daily candle following a recent dip to $0.61.

Notably, trading volume expanded alongside the rally, rising 116% to $46 million and signaling stronger buying interest.

Mantle is among the crypto tokens benefiting from growing market discussion around RWA projects, with institutional demand expected to rise if the SEC moves forward with allowing blockchain-based tokenized stock trading.

Recent ecosystem developments have also supported bullish sentiment. These include xStocks integrating xChange (Atomic RFQ) on Mantle, the launch of $BILL, and KelpDAO enabling rsETH withdrawals, bridging, and claims.

However, the key question remains whether MNT can break through the $0.70 supply zone.

MNT price prediction

The recent rally places Mantle in a short-term bullish position.

Daily technical indicators show a bullish Relative Strength Index (RSI), while the MACD is signaling a potential bullish crossover, both of which support continued upside momentum.

MNT’s recovery above the $0.65 level also places the token back above short-term moving averages, typically encouraging additional buy-side activity from momentum traders.

However, broader trend indicators still suggest a mixed outlook.

Key Takeaways

• Block delivered Q1 gross profit of $2.91 billion, representing a 27% year-over-year increase, while adjusted EBITDA reached an all-time high of $1 billion.
• Cash App’s gross profit accelerated 38% YOY, marking its strongest growth rate in three years, fueled by increased adoption of banking and lending services.
• Shares rallied 10% following the earnings release despite a GAAP net loss of $309 million, primarily attributed to $852 million in restructuring expenses from a 40% staff reduction.
• Full-year 2026 projections were upgraded, with Block now forecasting $12.33 billion in gross profit and $3.34 billion in adjusted operating income.
• A $240 million reserve was established in connection with a Department of Justice investigation examining Cash App’s compliance framework.

Block kicked off 2026 with impressive financial results that captured investor attention — albeit temporarily.

Block, Inc., XYZ

The fintech giant reported Q1 gross profit totaling $2.91 billion, marking a 27% year-over-year climb. Adjusted diluted earnings per share reached $0.85, representing a 52% increase and significantly exceeding company projections. Adjusted EBITDA achieved a quarterly record of $1 billion.

Total revenue reached $6.06 billion, reflecting a 5% year-over-year gain. While this surpassed most internal forecasts, it came in below certain aggressive analyst expectations.

The positive earnings surprise propelled XYZ stock approximately 10% higher that trading session. Shares now trade roughly 20% above year-ago levels and approximately 40% above their February trough. For 2026 year-to-date, the stock has gained around 7%.

Cash App emerged as the clear winner. Its gross profit soared 38% YOY to $1.91 billion, representing nearly two-thirds of Block’s overall total. Primary banking customers increased 18% to 9.7 million, cash inflows expanded 14% to $88 billion, and consumer lending originations surged 82%.

Cash App’s Evolution Into Full Banking Platform

That lending expansion reveals a significant strategic shift. Cash App is gradually transforming from a simple peer-to-peer payment service into a comprehensive banking solution. Features like Cash App Borrow are attracting additional users and generating deeper financial relationships per customer.

The challenge? Expanding lending activity brings increased loss exposure. Transaction, loan, and consumer receivable losses climbed during the period. Management maintains that credit performance remains within acceptable parameters, but this metric deserves continued scrutiny.

Square, by contrast, delivered 9% gross profit growth to $982 million. Gross payment volume expanded 13% YOY, with particularly robust international performance — 26% constant-currency growth beyond US borders. Block currently works with approximately 140 ISO partners, with these relationships generating roughly 200% quarter-over-quarter growth in new merchant acquisitions.

Artificial Intelligence Reshapes Workforce Structure

Block’s artificial intelligence initiative is gaining undeniable traction. Management reports that code production has increased 2.5 times since January. New AI tools — Moneybot and Managerbot — have each surpassed one million active users. The organization stated that 100% of its workforce now incorporates AI technology into daily operations.

This transformation required significant sacrifice. Block revealed in February plans to eliminate 40% of its headcount, reallocating responsibilities to artificial intelligence systems. The workforce reduction generated $852 million in charges, which primarily explains the GAAP net loss of $309 million and operating loss of $172 million recorded this quarter.

Block additionally disclosed a $240 million reserve established for a DOJ inquiry into Cash App’s compliance protocols and governance structures. This revelation dampened investor enthusiasm despite otherwise strong operational metrics.

Following the earnings beat, Block enhanced its full-year 2026 projections. Gross profit guidance increased to $12.33 billion from $12.20 billion. Adjusted operating income guidance rose to $3.34 billion, with adjusted EPS now anticipated at $3.85, up from the prior $3.77 estimate.

The company closed the quarter with approximately $9.1 billion in available liquidity, including $8.2 billion in cash holdings. Block also bought back 10.7 million shares during Q1 for $636 million, retaining up to $5 billion in remaining buyback authorization.

Analyst consensus currently stands at Strong Buy, featuring 26 buy recommendations, three hold ratings, and one sell rating. The mean 12-month price target among 30 analysts reaches $88.79, suggesting approximately 25% potential upside from the current trading price near $70.89.

Variational, a peer-to-peer onchain derivatives trading protocol, said it raised $50 million in a round led by global investment fund Dragonfy with participation from companies including Bain Capital Crypto and Coinbase Ventures.

The money will be used to expand the Cayman Islands-based company’s derivatives trading services, it said in a statement released Thursday. The raise comes just as Variational introduces perpetual futures tied to real-world assets (RWAs) such as gold, silver, copper and West Texas Intermediate (WTI) crude oil.

“We believe RWA perpetuals will soon be the biggest contract class in decentralized finance (DeFi), bigger than bitcoin and ether combined,” Lucas V. Schuermann, CEO and co-founder at Variational, told CoinDesk.

Bitcoin BTC$77,027.07, the largest cryptocurrency, has a market capitalization of $1.6 trillion. Ether (ETH), the second-biggest, has $256 billion. Combined, they account for almost 68% of the total cryptocurrency market cap.

Variational said it has carried more than $200 billion in trading volume since its inception in 2025, and the new funds will enable it to build the infrastructure needed to route liquidity directly from traditional markets within the coming months. Its model is uniquely designed to aggregate and route liquidity from traditional and onchain markets, avoiding the need to build it from scratch on isolated marginal order books, the company said.

“Our Series A secures the capital and partners we need to bring [traditional finance] TradFi-grade depth to 100 plus onchain perps by aggregating liquidity from the source, rather than rebuilding thin order books for each new listing,” Schuermann said.

Dragonfly’s investment comes two months after it announced a $650 million raise, at the time was one of the largest in the sector, when many blockchain-focused VCs were struggling, Managing Partner Haseeb Qureshi said. The firm did not immediately respond to a request for comment on this new investment.

Kraken has moved closer to launching in the United Arab Emirates after its parent company, Payward, received preliminary approval from Dubai’s Virtual Assets Regulatory Authority.

Payward received preliminary approval for a broker-dealer, investment and management licence from VARA. The approval gives Kraken a path toward offering regulated crypto services in Dubai once the remaining requirements are completed.

The approval was granted on Thursday, May 21, moving Kraken closer to a full UAE rollout. The exchange has not confirmed a launch date, but plans to offer UAE dirham funding, margin trading, OTC trading and Kraken Prime access for institutional clients.

Kraken plans AED funding and institutional access

The planned launch would give UAE users direct crypto market access through local currency rails. AED funding and withdrawals could reduce friction for traders who currently rely on foreign currency routes or third-party payment channels.

Kraken also plans to offer institutional clients access to Kraken Prime. The service targets funds, trading firms and professional market participants that need deeper liquidity, execution tools and post-trade support.

Dubai keeps building a crypto hub

Kraken’s move follows earlier regional work. The exchange received approval in 2022 to operate under Abu Dhabi’s financial free zone framework, making the latest Dubai approval part of a broader UAE strategy.

Dubai’s public VARA register includes licensed crypto firms across exchange, broker-dealer, custody and lending activities. VARA says it regulates virtual asset services in and from Dubai, except in the Dubai International Financial Centre.

Payward and Kraken co-CEO Arjun Sethi framed Dubai’s rulebook as a reason for the move. He said that regulatory clarity has helped bring liquidity and institutional capital to the UAE.

“Dubai wrote a rulebook for crypto before most jurisdictions even acknowledged the asset class,” he said.

Wider UAE push

Related crypto.news coverage shows Dubai has continued to expand regulated crypto payments and market access. Crypto.com recently received a UAE Stored Value Facilities license, allowing Dubai government fee payments through its regulated platform, with settlement in dirhams or approved stablecoins.

Another crypto.news report said VARA issued guidance on token issuance in Dubai. The guidance clarified how virtual assets should be structured, disclosed and distributed, including rules for stablecoins and asset-referenced tokens.

Kraken has also been expanding outside the UAE. Related coverage said Payward agreed to acquire Hong Kong-based Reap Technologies for $600 million, strengthening Kraken’s stablecoin payments and Asia strategy.

The Dubai approval now gives Kraken another regulated growth path. The company is targeting local funding, professional trading tools and institutional access in one of the most active crypto markets in the Middle East.

Boerse Stuttgart Group’s tokenized securities settlement platform Seturion has partnered with Societe Generale, its crypto subsidiary SG-Forge and online broker flatexDEGIRO to build out a blockchain-based securities settlement system across Europe.

Under the plan, Societe Generale will issue tokenized structured securities, such as turbo warrants and investment certificates, on Seturion, according to a Thursday announcement. SG-Forge, which holds a Markets in Crypto-Assets authorization from French regulators, will settle transactions using its CoinVertible euro and dollar stablecoins, EURCV and USDCV.

FlatexDEGIRO, which says it serves serve 3.5 million customers across 16 countries, will also connect its retail investor flow to the platform.

Source: Societe Generale Forge

Seturion has submitted a license application to Germany’s financial regulator BaFin under the European Union’s DLT Pilot Regime, though approval is still pending, a Boerse Stuttgart representative told Cointelegraph.

Related: Europe Bitcoin Treasury Model Won’t Mirror Strategy: PBW 2026

Nasdaq’s European venues to join Seturion

Nasdaq’s European trading venues will also connect to Seturion to facilitate trading of tokenized securities settled through the platform. The two platforms previously announced a partnership in March, revealing plans to build out a broader ecosystem of issuers, brokers and financial institutions across Europe to cut settlement costs and reduce the fragmentation.

“With Seturion, we are building the European settlement platform for the unified European capital market,” said Matthias Voelkel, CEO of Boerse Stuttgart Group. “As an open industry solution, Seturion contributes to overcoming Europe’s fragmented settlement landscape,” he added.

Boerse Stuttgart launched Seturion in September 2025 to replace Europe’s fragmented national settlement systems with a single open infrastructure. The platform supports public and private blockchains, settles in both central bank money and onchain cash, and is already live at BX Digital, Switzerland’s FINMA-regulated DLT trading facility.

Related: Augustus CEO says banks can’t rebuild for AI and stablecoins

European bank consortium Qivalis expands to 37 members

The Seturion deal comes as European financial institutions race to build regulated blockchain infrastructure. Qivalis, a European banking consortium building a MiCA-compliant euro stablecoin, has grown to 37 member institutions after adding 25 banks across 15 countries, including ABN AMRO, Rabobank, Nordea and Intesa Sanpaolo.

The Amsterdam-based group, which is pushing to build regulated alternatives to US dollar-dominated stablecoins, is targeting a second-half 2026 launch.

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A newly unsealed court filing in the Terraform Labs bankruptcy case alleges Jane Street used a private Telegram channel with former Terraform intern Bryce Pratt to obtain nonpublic information before the collapse of TerraUSD. Pratt is currently a systems developer at Jane Street. 

The channel, called “Bryce’s Secret,” allegedly gave the quantitative trading firm a backchannel to Terraform insiders as Jane Street unwound exposure to TerraUSD (UST) shortly before the algorithmic stablecoin lost its dollar peg in May 2022, according to the filing. “Jane Street used Bryce’s Secret chat group and other backchannel sources of non-public information to front-run trading that hastened the collapse of Terraform,” the filing states.

The claims renew scrutiny of who profited from Terra’s $40 billion collapse, one of the crypto industry’s largest failures, and could test how traditional insider trading and market manipulation theories apply to decentralized finance markets.

On Feb. 23, Todd Snyder, Terraform’s court-appointed administrator, sued Jane Street, its co-founder Robert Granieri, and employees Bryce Pratt and Michael Huang in Manhattan federal court, accusing them of “misappropriating confidential information and manipulating market prices.” 

Two months later, Jane Street filed a motion to dismiss the lawsuit, arguing that Terraform attempted to “extract cash from Jane Street to foot the bill for a fraud that Terraform itself perpetrated on the market,” Cointelegraph reported on April 23.

A spokesperson for Jane Street told Cointelegraph that the lawsuit was a transparent attempt to “extract money when it is well-established that the losses suffered by Terra and Luna holders were the result of a multi-billion dollar fraud perpetrated by the management of Terraform Labs.”

Terraform Labs court filing in the lawsuit against Jane Street. Source: cloudfront.net

Curve trade raises new UST concerns

The timing of a particular UST trade has raised more concerns, suggesting potential access to insider information by an unknown entity.

On May 7, 2022, Terraform quietly withdrew about $150 million in UST from the Curve 3pool liquidity pool.

Less than 10 minutes after Terraform’s withdrawal, Curve 3pool saw its largest single swap of $85 million, precipitating a steep sell-off in UST, which the filing said “ultimately led to the collapse of the Terra ecosystem.”

Related: Analysts reject Jane Street ‘10 a.m. dump’ claims, say Bitcoin isn’t easily manipulated

The heavily redacted filing does not identify the entity behind the swap.

Terraform Labs court filing in the lawsuit against Jane Street. Source: cloudfront.net

Snyder seeks to recover alleged wrongful gains from Jane Street, plus compensation for additional damages to distribute to Terraform creditors and investors who lost funds in the 2022 collapse.

Jane Street is the world’s leading quantitative trading firm by net trading revenue, with $39.6 billion generated in 2025, reported Reuters.

Cointelegraph reached out to Terraform’s court-appointed administrator for comment but had not received a response by publication.

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