The US Senate on Thursday unanimously approved a resolution banning its members and staff, who are often exposed to sensitive information, from using prediction markets.

The resolution, passed by unanimous consent, changed the Senate’s rules and took immediate effect. 

“Engaging in any way in a prediction market or trying to place bets where we might have inside information deteriorates the confidence that our constituents have in us,” Republican Senator Bernie Moreno, who introduced the resolution, said on the Senate floor.

“By changing the standing rules of the Senate, what we’re doing is allowing our constituents to know, once and for all, that no member of the United States Senate, no member of the staff of the United States Senate, can ever use that inside information as a way to monetize this job whatsoever,” he added.

Source: Bernie Moreno

The resolution comes after a special forces soldier involved in the plan to capture former Venezuelan President Nicolás Maduro was charged last week, on April 23, with using classified information to make bets on Polymarket, as lawmakers also air concerns over well-timed bets on the Iran war. He has pleaded not guilty. 

Senate Democratic leader Chuck Schumer said on the Senate floor that “of all the issues we debate in Washington, this falls clearly in the category of a ‘no-brainer.’”

“We must never allow Congress to turn into a casino where members representing the public can gamble on wars, or economic crises, or elections,” he said.

Related: Insider trading backlash forces Polymarket to step up surveillance

“We should go further; this is a good start, but not enough,” Schumer said. “The administration and its employees must apply these very same rules too, particularly this administration, which shows such a troubling affinity to corruption and self-dealing.”

Republican Representative Ashley Hinson posted to X that she would introduce a similar resolution to ban the use of prediction markets in the House.

Polymarket posted on X that it fully supported the Senate resolution and its terms of service “already prohibit such conduct, but codifying this into law is a step forward for the industry.”

Tarek Mansour, co-founder and CEO of rival prediction market platform Kalshi, also celebrated the resolution in a post on X, adding that it “already proactively blocks members of Congress and enforces against insider trading.”

Magazine: How to fix suspected insider trading on Polymarket and Kalshi

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.

Spain appears to be the strongest retail market for Circle’s euro-pegged stablecoin EURC on the Brighty platform, with Brighty data indicating a clear regional concentration in 2025 and the first quarter of 2026. In that period, Spanish activity accounted for roughly 36% of EURC transactions and about 25% of EURC-related volume, a signal that euro-stablecoin usage for everyday payments is taking hold in select European markets. According to Brighty data reviewed by Cointelegraph, this pattern positions Spain as a leading early adopter in euro-stablecoin retail usage within the broader MiCA-era regulatory landscape.

“For Spanish users, EURC functions essentially as a standard euro on a card with no exchange rate friction when transacting against USDC,” Brighty co-founder Nick Denisenko said. The observation underscores how EURC can simplify euro-denominated payments for retail customers, particularly when paired with card-based spending and stablecoin yield features.

Cointelegraph’s review of Brighty’s dataset also highlights a broader market dynamic: euro tokens remain a minority segment relative to USD-pegged stablecoins like Tether’s USDt and Circle’s USDC, even as policymakers push to expand the euro’s role in crypto markets. The data offer an early glimpse into how euro stablecoins may be used in European retail payments as regulatory frameworks like MiCA come into force.

Key takeaways

• Spain accounted for about 36% of EURC transactions and 25% of EURC volume in 2025 through the first quarter of 2026, signaling a retail-oriented adoption pattern.
• EURC is the largest euro-pegged stablecoin by market share, representing around 49% of the euro-stablecoin market cap (approximately $887 million) according to CoinGecko.
• Spain shows the clearest retail usage of EURC with low average transaction sizes—about 49 euros per payment—compared with other European markets that display more mix between retail and higher-value transfers.
• Italy ranks second in EURC activity (about 15.5% of transactions and 18% of volume), followed by Germany (roughly 13% of transactions and 19% of volume), while France is notable for higher average transactions (~€171).
• Denisenko argues that Spain’s combination of early adoption, retail-focused usage, and broad institutional awareness makes it the clearest early hub for euro-stablecoin activity under MiCA.

Spain as a retail EURC hub

Data from Brighty shows Spain leading EURC activity within the platform’s footprint, with a clear tilt toward everyday, low-value transactions. The typical EURC payment in Spain is around €49, placing the euro-stablecoin usage squarely in the realm of consumer purchases, P2P transfers, and other retail payments rather than large-scale transfers or institutional settlements.

Denisenko notes that Spanish users have been among the earliest adopters of EURC on Brighty and have shown robust engagement with yield features tied to stablecoins. This combination—early adoption, retail-friendly transaction sizes, and active use of yield mechanics—helps explain why Spain stands out in Brighty’s euro-stablecoin analytics.

From a regulatory and market-structure perspective, the Spanish pattern aligns with a broader intention to normalize euro-stablecoin usage within a MiCA-ready environment. The MiCA framework seeks to bring regulatory clarity to crypto-asset service providers and issuers of asset-backed tokens in the European Union, potentially smoothing the path for banks and payments ecosystems to integrate euro-stablecoins into everyday retail flows.

Cross-country usage patterns and value segmentation

Italy ranks second in Brighty’s EURC metrics, accounting for about 15.5% of EURC transactions and 18% of EURC volume. The data imply a mix of retail and higher-value use cases in Italy, rather than a narrow retail-only pattern. Germany follows with roughly 13% of transactions and 19% of volume, where the average EURC payment size stands at about €105 ($123).

France stands out for its comparatively higher average transaction size of roughly €171 ($186) per EURC payment, indicating a greater share of larger transfers or higher-value payments within the country’s EURC activity. This contrast suggests a diversification of EURC use cases across Europe, from everyday consumer purchases to larger-value transfers that may involve corporate or high-net-worth clients.

Despite these country-specific dynamics, euro-stablecoins in Europe remain a relatively small slice of the broader stablecoin market when viewed against USD-pegged tokens. The euro-stablecoin segment’s total market capitalization sits well below the USD-backed tier, a gap that policymakers and market participants have been monitoring as MiCA implementation progresses and as banks explore euro-stablecoin integrations.

Regulatory and institutional implications for euro-stablecoins in Europe

The Spain-centric retail pattern observed on Brighty has notable implications for compliance, licensing, and cross-border operations within the European Union. Under MiCA, euro-stablecoins face a regulated environment designed to standardize issuance, disclosures, and safeguarding of user funds, with potential licensing prerequisites for issuers and service providers operating across member states. Spain’s apparent readiness—both from consumer familiarity with crypto and from the apparent willingness of local banks to engage with euro-stablecoins—could serve as a case study in how MiCA compliance and banking integration might unfold in practice.

Brighty’s experience in Spain, including interactions with major Spanish banks where staff demonstrate a high level of competence, suggests that institutional readiness may accelerate the deployment of euro-stablecoin-based payments and yield features for retail users. This aligns with a broader European push to expand the euro’s role in digital finance while maintaining robust regulatory oversight and consumer protections.

Where EURC and other euro-stablecoins fit within the MiCA framework remains a key question for operators, banks, and policymakers. The ongoing evolution of licensing regimes, cross-border oversight, and interoperability with fiat rails will shape how euro-stablecoins scale in retail channels. The comparative patterns across Italy, Germany, and France provide a preliminary map of how different market segments may respond to MiCA’s regulatory contours, with Spain potentially serving as an early operational benchmark for compliance-ready, retail-focused euro-stablecoin activity.

Closing perspective

The Brighty dataset paints a valuable early picture: Spain stands out as the clearest retail-focused hub for EURC within Europe, reflecting a combination of consumer familiarity, institutional readiness, and a regulatory environment moving toward MiCA-aligned clarity. As MiCA-backed euro-stablecoins continue to gain traction, observers should monitor how cross-border EU usage develops, how banks expand euro-stablecoin integrations, and how transaction sizes and channel mix evolve beyond Spain’s initial lead. The coming quarters will reveal whether Spain’s early lead translates into broader regional patterns or remains a selective, country-specific anomaly shaped by local financial ecosystems.

Key Takeaways

• Nvidia shares declined over 4% Thursday even as major tech companies announced significant AI infrastructure spending hikes
• Google revealed intentions to commercialize its proprietary TPU chips for external clients, intensifying competitive pressures
• Amazon highlighted accelerating growth in its proprietary chip division
• Top four hyperscalers collectively plan AI infrastructure investments reaching $725 billion in 2026
• Nvidia’s B300 server pricing in China has surged to approximately $1 million following stricter smuggling enforcement

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Nvidia shares tumbled over 4% Thursday, defying the broader narrative of explosive AI infrastructure spending commitments from technology’s biggest players. The decline signals mounting investor anxiety about a critical question: can Nvidia maintain its market leadership as its largest clients develop competing chip solutions?

NVIDIA Corporation, NVDA

The downturn followed earnings reports from Meta, Alphabet, Microsoft, and Amazon, each announcing elevated capital expenditure forecasts for 2026. Meta increased its projection by $10 billion, targeting a range of $125 billion to $145 billion. Alphabet boosted its guidance by $5 billion, potentially reaching $190 billion. Microsoft indicated its fourth-quarter capital spending alone would exceed $40 billion.

Combined, these four cloud computing giants are projected to deploy up to $725 billion on AI infrastructure throughout the year. With Nvidia commanding approximately 90% of the AI accelerator market, this investment wave should theoretically benefit the semiconductor manufacturer substantially.

Yet market sentiment doesn’t always align with positive fundamentals.

Alphabet’s TPU Commercialization Triggers Market Concerns

Investor apprehension stemmed primarily from Alphabet’s strategic announcement. The company disclosed plans to market its proprietary Tensor Processing Units — TPUs — to external clients who can deploy them within their own infrastructure environments.

Historically, TPUs functioned exclusively within Google‘s ecosystem. By commercializing these chips, Alphabet positions them as a viable, albeit specialized, competitor to Nvidia’s GPU offerings. While TPUs typically lack the versatility of Nvidia’s solutions, they deliver superior cost efficiency for specific artificial intelligence applications.

Amazon similarly emphasized expansion in its proprietary chip initiatives during its quarterly earnings presentation. While both organizations remain significant Nvidia clients, the strategic trajectory is unmistakable.

Nvidia has historically downplayed threats from custom chip development, emphasizing the superior versatility its GPUs provide for AI application developers. However, maintaining this position without encountering market skepticism is becoming increasingly challenging.

Chinese Market Sees B300 Server Prices Approach $1 Million Mark

On supply dynamics, pricing for Nvidia’s advanced B300 server systems in China has escalated to approximately 7 million yuan, representing a sharp increase from roughly 4 million yuan in late 2024. This translates to nearly $1 million per system.

Intensified enforcement against semiconductor smuggling operations in China — which previously sustained a parallel market for export-restricted hardware — has substantially constrained available supply. The B300 represents one of Nvidia’s most sophisticated AI server configurations and remains subject to US export restrictions in the Chinese market.

Meanwhile, Thursday’s trading session delivered mixed results across the semiconductor industry. Qualcomm surged 9% following announcements of expanded data center initiatives. Memory sector players Sandisk, Western Digital, and Seagate also posted gains after Microsoft and Meta highlighted increasing expenditures for storage and memory infrastructure.

Regarding investment activity, Nvidia’s venture division NVentures contributed to a $50 million extension of Swedish AI legal technology company Legora’s Series D funding round, establishing a $5.6 billion valuation and bringing aggregate capital raised to $600 million.

Nvidia shares were trading near $200.84 Thursday afternoon, representing an approximate $8.41 decline for the session.

TRM Labs says North Korea-linked hackers have stolen about $577m in 2026 so far—76% of all crypto hack losses—driven by massive hits on KelpDAO and Drift Protocol.

A new report from blockchain intelligence firm TRM Labs finds that organizations linked to North Korea were responsible for roughly 76% of all global cryptocurrency hacking losses in the first four months of 2026, stealing an estimated $577 million. The report, cited by The Block, warns that North Korean operations have become the dominant source of on-chain theft as state-aligned groups refine their tactics against exchanges, DeFi protocols, and cross-chain infrastructure.

According to the analysis, North Korea’s share of global crypto theft has climbed relentlessly over the past five years: 22% in 2022, 37% in 2023, 39% in 2024, 64% in 2025, and 76% so far in 2026, pushing cumulative illicit profits since 2017 above $6 billion. TRM Labs ties this growth to increasingly sophisticated tooling, better laundering pipelines, and a clear state incentive to bypass traditional sanctions via digital assets.

The report highlights two April incidents as the primary drivers of 2026 losses to date: a roughly $292 million exploit targeting KelpDAO and a separate $285 million theft from Drift Protocol. Together, these two attacks alone account for nearly the entire $577 million total so far this year and about 3% of all recorded hacking incidents in the same period, suggesting that a small number of high-impact exploits continue to dominate loss statistics.

For crypto markets, the concentration of large-scale thefts in DeFi and restaking protocols underscores the structural risk in smart contract and bridge design. Each $200 million–plus drain not only hits token prices for the affected projects, but also tightens liquidity across interconnected ecosystems as market makers, lenders, and LPs de-risk exposure.

This trend also feeds into regulatory and institutional responses. As more of the loss profile is attributed to a single sanctioned state, global authorities will likely intensify pressure on centralized exchanges, OTC desks, and mixers to block known laundering channels, raising compliance costs for the entire industry. For traders in Bitcoin, Ethereum, and other majors, repeated headlines of nine-figure hacks tied to North Korea translate into higher perceived tail risk, wider risk premia, and occasional systemic bouts of deleveraging when large exploits force on-chain liquidations.

Overall, TRM Labs’ findings paint a picture of a crypto market where protocol innovation and capital inflows continue, but where the “crypto war chest” of a sanctioned state is now a central macro variable, not a side story—one that will increasingly shape both policy and risk pricing across digital assets.

The US Senate moved to tighten its stance on inside information and financial speculation on prediction markets, unanimously approving a resolution that bars members and staff from participating in such markets. The rule change—made by unanimous consent and effective immediately—aims to preserve public trust by preventing potential monetization of sensitive information.

Engaging in any way in a prediction market or trying to place bets where we might have inside information deteriorates the confidence that our constituents have in us.

The measure was introduced by Republican Senator Bernie Moreno, who has framed the reform as a straightforward step to ensure that lawmakers and their aides cannot leverage privileged information for personal gain. He stated on the Senate floor that the rule change will make clear to constituents that no member of the United States Senate or Senate staff can monetize insider information through prediction markets.

Source: Bernie Moreno

The resolution arrives amid heightened scrutiny of prediction-market activity linked to political and national security matters. In a separate but related development, a special forces soldier was charged on April 23 with using classified information to place bets on Polymarket, a case that has fed lawmakers’ concerns about insider trading risk in such platforms. The defendant has pleaded not guilty.

During the floor debate, Senate Democratic leader Chuck Schumer endorsed the measure as a straightforward safeguard against conflicts of interest. He argued that Congress must not resemble a casino where lawmakers could gamble on wars, economic crises, or elections, and urged further steps beyond the initial rule change.

Related: Insider trading backlash forces Polymarket to step up surveillance

Schumer also indicated that broader measures should extend to the administration and its employees, signaling that the executive branch may come under similar scrutiny to ensure consistent ethics standards across government activity.

Republican Representative Ashley Hinson indicated that she will introduce a counterpart resolution in the House to prohibit House members from using prediction markets, signaling a potential expansion of the policy beyond the Senate.

Reaction from the prediction-market ecosystem was swift. Polymarket publicly supported the Senate resolution and noted that its terms of service already prohibit such conduct, describing codification as a positive development for the industry. Kalshi, a direct competitor, welcomed the move as well, with its co-founder noting that the platform already blocks congressional participation and enforces against insider trading.

These developments are part of a broader pattern of regulatory and industry focus on governance, compliance, and market integrity in crypto-adjacent spaces. Cointelegraph’s coverage has highlighted ongoing debates around insider betting detection and the governance of prediction-market platforms, underscoring the legal and regulatory implications for operators, financial institutions, and public institutions alike.

According to Cointelegraph, the heightened attention to insider trading in prediction markets dovetails with broader regulatory and enforcement efforts across the sector, including the need for robust AML/KYC frameworks, licensing considerations, and cross-border policy alignment. The incident and ensuing legislative response illuminate how public institutions are balancing innovation with governance and accountability in a rapidly evolving market structure.

Key takeaways

• The Senate unanimously approved a resolution that bans members and staff from using prediction markets, with the rule change taking effect immediately.
• The action seeks to prevent potential monetization of inside information and to preserve public trust in governmental institutions.
• There is expectation of broader discussion, with a House counterpart already anticipated to pursue a similar prohibition.
• Industry actors have publicly welcomed codification, asserting existing internal controls and surveillance mechanisms align with the new policy.
• The episode underscores ongoing regulatory scrutiny of prediction markets and related crypto-enabled trading from multiple authorities and jurisdictions.

Unanimous reform and immediate effect

The resolution’s passage by unanimous consent marks a clear stance from lawmakers that insider information must not be monetized through prediction-market channels. By amending the standing rules of the Senate, the chamber signaled an approach that emphasizes ethical governance and transparency in legislative operations. The immediate effect removes any potential window for noncompliance, reducing the likelihood of later procedural disputes over timing or enforcement.

Insider information, cases, and market surveillance

The drive for reform follows public concern over cases where insiders may have exploited privileged information. The reported charge against a special forces soldier—linked to bets on Polymarket—illustrates real-world risk vectors that policymakers fear could erode public confidence in government institutions and in market protocols. While the defendant has pleaded not guilty, the incident has intensified calls for clear rules and rigorous enforcement to deter insider trading in prediction markets.

Regulatory and industry implications for crypto markets

From a policy and compliance perspective, the Senate action reinforces the imperative for rigorous governance frameworks around crypto-enabled markets and related services. Although MiCA governs the European Union, the move aligns with a global trend toward stricter oversight of market integrity, disclosure obligations, and conflict-of-interest protections. For U.S. and global financial institutions, this raises considerations for internal risk controls, staff training, and cross-border regulatory expectations that could influence licensing, reporting, and supervisory priorities. The episode also highlights the importance of clear enforcement signals to deter insider trading and to maintain a level playing field for market participants, including traditional exchanges and crypto-native platforms.

Industry reaction and potential policy spillovers

Industry responses have framed the Senate action as a constructive step that formalizes existing best practices while reducing ambiguity for participants. Polymarket welcomed the codification, noting that their platform already prohibited such conduct and implied that formalizing the ban into law strengthens industry standards. Kalshi’s leadership echoed a similar sentiment, emphasizing proactive compliance measures and the removal of insider-trading risk from the regulatory horizon. The prospect of a House counterpart suggests that policy momentum could extend beyond the Senate, potentially shaping a broader regulatory baseline for prediction markets and similar platforms.

As policymakers weigh additional safeguards, observers will monitor how enforcement indicators evolve—whether through targeted investigations, licensing prerequisites for operators, or enhanced cross-agency coordination among financial regulators, national security authorities, and anti-corruption units. The developing narrative may influence how institutions structure compliance programs, monitor for improper information flows, and implement governance protocols that withstand scrutiny in both domestic and international contexts.

Closing perspective: The Senate’s action formalizes a boundary between public service and speculative activity tied to privileged information, signaling that policy makers view prediction markets as a space where integrity must be safeguarded to protect democratic legitimacy and market stability.

Key takeaways:

• Spot Bitcoin ETFs saw $490 million in net outflows over three days, signaling a recent dip in institutional demand.
• Rising inflation is eroding real yields on fixed income, likely fueling long-term demand for scarce assets like BTC.

Bitcoin (BTC) faced three consecutive days of outflows from US-listed spot exchange-traded funds (ETFs). The outflows coincided with a failed attempt to reclaim $78,000. Traders fear more downside, but heightened US inflation will likely act as a catalyst for further bullish momentum.

US-listed Bitcoin spot ETFs daily net flows, USD. Source: SoSoValue

The US-listed spot Bitcoin ETFs saw $490 million net outflows between Monday and Wednesday, reversing the trend from the prior two weeks, which indicates a decline in institutional demand. Still, a longer-term perspective shows $3.3 billion net inflows since March.

S&P 500 futures (left) vs. Bitcoin/USD (right). Source: TradingView

Part of the lack of confidence among traders can be attributed to the 14% year-to-date decline in Bitcoin’s price, while the S&P 500 soared to an all-time high. However, the tech sector came under scrutiny as quarterly earnings releases failed to impress investors. Meta (META US) faced a 9% correction on Thursday, while Microsoft (MSFT US) shares dropped 4%.

Brent crude oil (left) vs. US 5-year Treasury yield (right). Source: TradingView

Since the war in Iran started in late February, oil prices have been a major driver for risk appetite. The latest Brent crude oil rally to $126 coincided with yields on the US 5-year Treasuries jumping to 4.02%, up from 3.51% two months prior. Traders demanded higher yields on government-backed bonds amid upward pressure on inflation, triggering risk-off sentiment.

Higher inflation favors Bitcoin’s bullish momentum

Bitcoin’s lack of bullish momentum near $78,000 can also be pinned to worsening economic conditions. The US Commerce Department reported that gross domestic product grew at a 2% seasonally adjusted annualized rate in the first quarter, slightly below the 2.3% rate economists projected, according to CNN.

Related: Most crypto investors believe Bitcoin is undervalued–Coinbase survey

Strategy (MSTR US) latest Bitcoin acquisitions. Source: Strategy

Strategy, the company led by Executive Chairman Michael Saylor, announced the acquisition of 56,235 BTC in the first four weeks of April, driving its average cost to $75,537. Traders fear that the Bitcoin price could suffer if the Strategy accumulation pace does not hold up, even if only temporarily.

US President Donald Trump’s family’s activities in the cryptocurrency market have also hurt the industry’s appeal. Three US Senators demanded an inquiry into Trump and his family’s profits from their cryptocurrency ventures.

The risks of higher inflation and lower economic growth are unlikely to dissipate in the near term, but the mere three-day sequence of net outflows from Bitcoin ETFs should not be a source of concern. Ultimately, reduced returns on fixed income, when adjusted for inflation, will likely drive demand for scarce alternative assets. Thus, the Bitcoin path to $80,000 remains intact.

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.

Ether’s latest price action has shifted from a February dip beneath $1,800 to a multi-week rally that traders say could have more room to run in May. After rebounding more than 25% off that low, a confluence of chart patterns and on-chain signals is adding to the case for a continued upside move, albeit with the usual caveats around macro risk and a potential testing of nearby resistance levels.

Key takeaways

• Technical setups across multiple timeframes imply a continued bullish tilt for ETH, with a near-term price target around $3,000.
• Ether has found support in a historically strong zone near $2,000, a level that previously sparked 22%–27% rebounds on recent cycles.
• On-chain activity points to strong buyer enthusiasm: the 90-day spot taker cumulative volume delta has turned positive, highlighting demand from market participants.
• Near-term order-flow data shows robust taker buy pressure, including a reported single-day buy volume exceeding $1 billion as traders stepped in below the $2,300 region.

Chart signals point toward a $3,000 ceiling

Analysts are weighing several technical patterns that suggest ETH could press higher into May. On the daily chart, Ether has been forming a bull flag after a sharp upmove earlier in the spring. A breakout above the upper trend line near $2,350 would complete the pattern and could unlock a run similar in height to the preceding rally, placing a fresh upper target just above $3,000—roughly a one-third gain from current levels.

In parallel, an eight-hour ascending-triangle formation has traders watching for a decisive push through the triangle’s upper line around $2,400. A confirmed breakout here could open the door toward a measured target near $3,305, representing a potential 46% upside from recent prices under favorable conditions.

Those who follow ETH price trajectories note that the broader setup points to a near-term upside bias, provided the price can clear key resistance bands around $2,350–$2,400. The confluence of a bull flag and a continuation pattern in shorter timeframes adds to the likelihood of a sustained advance, though breakpoints and macro catalysts remain the primary risks to the forecast.

Strong on-chain support and historical rebound zones

Beneath the price action, on-chain anatomy paints a supportive picture. Ether has sat atop a multi-month support line near $2,000, with repeated rebounds from that area preceding sizable rallies in prior cycles. Current conditions echo those patterns, as ETH bounces have often carried prices back toward or beyond the prior highs after testing the line.

Realized-price distribution for UTXOs adds another layer of context. Data indicates a substantial accumulation zone between roughly $1,980 and $2,178, where a large cohort of investors purchased roughly 7.4 million ETH. That level of stored demand helps explain why buyers have been able to defend the floor around $2,000 even as prices fluctuated in the broader market.

On the resistance side, a subsequent cluster of interest sits higher—between $2,400 and $3,000—where roughly 14 million ETH is believed to have been acquired. If buyers can clear the nearby supply near $2,400, the next notable concentration could come into play as ETH targets the upper zones near $3,000 and beyond.

Order flow and sentiment reinforce the upside case

Beyond price and on-chain accumulation, market microstructure signals add confidence to the bull case. The 90-day spot taker cumulative volume delta has turned decisively green since mid-March, coinciding with Ether’s breakout above the $2,200 resistance and suggesting a renewed appetite among buyers willing to step in as price moves higher.

Trading activity has also shown bursts of aggressive buying when prices dipped near critical levels. CryptoQuant data reported taker buy volume exceeding $1 billion on a recent session, indicating that traders were keen to accumulate on a pullback rather than wait for a deeper correction.

CryptoQuant analyst Darkfost commented on the development, noting that the move below the $2,300 area rekindled interest among participants: “This suggests that market participants still appear willing to bet on a more constructive short term outlook for Ethereum.”

Together, these signals—positive CVD, robust taker buy volume, and supportive on-chain distribution—help explain why a broad slice of market participants remains confident in ETH’s ability to extend gains through the May period, provided price action stays above critical floors and clears immediate overhead supply.

This article synthesizes data and signals from market data providers and on-chain analytics services, reflecting the current sentiment around Ethereum’s price trajectory. Traders should stay mindful of the usual risk factors that can influence crypto markets, including macro policy shifts, regulatory developments, and shifting liquidity conditions.

Looking ahead, investors and traders will be watching how ETH navigates the confluence of chart patterns and on-chain signals as May unfolds. If price action can convincingly clear the $2,350–$2,400 zone, the pathway toward $3,000 and higher could become clearer, while a failure to sustain above these levels might invite a retest of the immediate support near $2,000 and the potential for a more protracted consolidation phase.

TLDR

• Gemini secured approval from the U.S. Commodity Futures Trading Commission for a derivatives clearinghouse license.
• The license allows Gemini to clear and settle trades internally without relying on external providers.
• Gemini aims to expand into the prediction market sector and compete with platforms like Kalshi and Polymarket.
• The company plans to offer a full trading ecosystem including futures, options, and event-based contracts.
• Gemini shares increased by about 7% following the announcement of the approval.

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Gemini secured regulatory approval to expand its trading operations into U.S. derivatives and prediction markets. The move allows the exchange to handle trade clearing internally and scale new products faster. The announcement also pushed Gemini shares up by about 7%.

Gemini enters prediction market race with new license

Gemini received approval from the U.S. Commodity Futures Trading Commission for a derivatives clearinghouse license. This license allows the firm to clear and settle trades without external providers.

The approval strengthens Gemini’s control over its trading infrastructure and supports its expansion plans. The company aims to compete directly with established platforms like Kalshi and Polymarket.

Gemini stated that the license supports its strategy to build a full-service trading platform. The company plans to integrate event-based contracts, futures, and options within one system.

Cameron Winklevoss said, “Today marks a major milestone in Gemini’s marketplace expansion.” He added that the firm is working toward building a financial services “super app.”

Gemini prediction market push aligns with rising demand

Prediction markets recorded strong growth, with trading volume rising over 300% in 2025 to $63.5 billion. This growth has attracted both crypto platforms and traditional financial firms.

Hyperliquid, a decentralized derivatives platform, is preparing to compete in the same sector. At the same time, asset managers are developing exchange-traded funds linked to prediction markets.

Roundhill Investments plans to launch the first U.S. ETFs tied to prediction markets on May 5. Two other asset managers are also preparing similar financial products.

Gemini had already launched a prediction marketplace through its affiliate Gemini Titan in December 2025. That platform received a designated contract market authorization from the CFTC.

U.S. focus drives Gemini restructuring and expansion

Gemini shifted its operational focus to the United States earlier this year. The company exited markets in the United Kingdom, the European Union, and Australia.

This restructuring included a workforce reduction of about 25% across affected regions. The company stated that the U.S. offers stronger capital markets for its long-term plans.

The Winklevoss founders said, “America has the world’s greatest capital markets.” They added that their strategy centers on growth within the U.S. market.

With both DCM and DCO licenses, Gemini can now offer a complete trading ecosystem. The company confirmed plans to expand into crypto futures, options, and perpetual contracts for U.S. users.