Daily digests
Crypto News Digest: May 16, 2026
The stories that moved crypto on May 16, 2026.
19 stories
All crypto news
STRC preferred stock investors are mispricing major 'dislocation' risk: Analyst
STRC preferred stock investors are mispricing major dislocation risk, according to an analyst. Potential liquidity contractions in secondary markets and surging government bond yields could spell trouble for preferred perpetual stockholders. This dislocation could lead to significant losses for investors, particularly those holding perpetual preferred stocks, which are highly sensitive to interest rate changes and market volatility.
VanEck, Grayscale file fresh BNB ETF amendments as race for next altcoin spot ETF accelerates
VanEck and Grayscale are filing fresh amendments for their BNB ETF, as the race for the next altcoin spot ETF heats up.
House Agriculture leaders press Trump to appoint CFTC commissioners as CLARITY Act advances in Senate
House Agriculture leaders are pressing Trump to appoint CFTC commissioners, with Chair Michael Selig being the sole commissioner since December, while four seats remain empty. Trump has not nominated replacements, despite the CLARITY Act advancing in the Senate, which aims to increase transparency and oversight of digital assets and derivatives. Market uncertainty persists due to regulatory gaps.
Strategy to repurchase $1.5B of 2029 convertible notes
The company is executing a strategy to repurchase $1.5 billion of its 2029 convertible notes, offering holders the option to exchange them for shares of the company's equity. The notes carry a 0% coupon, providing an attractive incentive for holders to redeem their notes for shares, potentially reducing the company's debt burden and increasing shareholder value.
Bitcoin analysis sees 'bear trap' as BTC price passes two-week lows under $78K
Bitcoin's price has fallen below $78,000 for the first time since May, sparking concerns of a prolonged downturn. However, traders remain optimistic about a potential rebound, viewing the current situation as a 'bear trap.' They believe a bounce could occur, potentially leading to a resurgence in investor confidence and a subsequent market recovery.
Harvard dumps ether ETF as Abu Dhabi sovereign fund keeps adding to bitcoin positions
Mubadala, Abu Dhabi's sovereign wealth fund, continues to increase its stake in BlackRock's iShares Bitcoin Trust ETF, adding over $90 million to its existing position. This move comes as Harvard University has reportedly sold its shares in an ether ETF, a potentially bearish signal for the broader cryptocurrency market, weighing on investor sentiment.
Justin Sun-Led Liberland Micronation Awards Ethereum Founder Vitalik Buterin Its Top Honor
Justin Sun-led Liberland micronation awards Ethereum founder Vitalik Buterin its top honor at ETH Prague 2026, recognizing his contributions to blockchain-based governance and digital citizenship. This prestigious award highlights Liberland's ongoing efforts to promote decentralized governance and digital identity. The recognition underscores the growing importance of blockchain in shaping global governance and citizenship models.
OpenAI partners with Malta to give all citizens free ChatGPT Plus access
OpenAI partners with Malta to provide all citizens with free ChatGPT Plus access for a year after completing a government-backed AI literacy course, a world-first deal. The course is mandatory for all citizens, with 440,000 Maltese residents expected to benefit.
Jump Crypto’s ‘Firedancer’ is taking a slow and steady approach to its long-awaited Solana infrastructure rollout
Firedancer, a Solana client, is taking a slow and steady approach to its long-awaited rollout, according to the lead engineer in an interview with CoinDesk. The client is currently being tested and refined, with the lead engineer stating that it's "not a sprint" but rather a marathon to ensure stability and performance.
Crypto users are choosing juicy yields over protection, putting billions at risk of hacks
DeFi insurance protocols are collapsing under the risks they were built to cover as users prioritize yields over protection, putting billions at risk of hacks. Launched with ambitious plans during the 2020 crypto boom, these protocols failed to adapt to evolving hacking threats, leaving investors vulnerable to significant losses and industry-wide instability.
The $293 million KelpDAO hack shows why DeFi is finally being forced to grow up
The $293 million KelpDAO hack highlights a significant shift in the DeFi landscape, where protocol founders and security researchers are now tackling complexity rather than just coding bugs. This complexity stems from intricate smart contracts, multi-chain interactions, and interconnected systems, forcing DeFi to mature and prioritize security, stability, and scalability.
What Is AI Jailbreaking? A Beginner's Guide to the Cat-and-Mouse Game Behind Every Chatbot
AI jailbreaking is a cat-and-mouse game where researchers and hackers attempt to bypass or modify AI models, particularly large language models, to unlock their full potential. This practice has evolved from cracking iPhones to liberating LLMs, with Cydia and ChatGPT being notable examples. AI labs are losing sleep as they struggle to keep up with these advancements.
XRP beat bitcoin gains as CLARITY Act advanced, but a real bullrun still needs Congress
XRP surges 5% as the CLARITY Act advances in the Senate, reviving hopes for deeper institutional investment in XRP products. Market-structure bill momentum is building, but a full bullrun still hinges on Congressional approval. Institutional investors remain cautious, awaiting clarity on regulatory frameworks before committing significant capital to the digital asset market.
Spot Bitcoin ETFs bleed $1B in a week, snapping six-week inflow run
Spot Bitcoin ETFs are currently experiencing a $1 billion outflow in a single week, snapping a six-week inflow run that had attracted $3.4 billion. This sudden shift is attributed to investors rotating towards AI stocks and macro uncertainty weighing on sentiment, as capital seeks safer havens amidst market volatility, impacting cryptocurrency market confidence.
Sharplink CEO points out 3 catalysts for Ethereum's price to surge higher
Sharplink CEO emphasizes that the world is closely watching the US CLARITY Act, as the nation shifts its stance away from hostility, potentially paving the way for increased adoption and investment in Ethereum, with a focus on regulatory clarity that could lead to a surge in price, benefiting Ethereum holders and the broader cryptocurrency market.
THORChain confirms $10M exploit, rolls out recovery portal for affected users
THORChain confirms a $10 million exploit, prompting the launch of a recovery portal to aid affected users. The portal enables users across four chains to revoke malicious approvals and claim refunds. THORChain is taking proactive steps to mitigate the damage, ensuring a smooth recovery process for impacted users, thereby maintaining investor trust and confidence in the platform.
Crypto longs lose $500 million as bitcoin slides to $78,000, SOL and XRP down 5%
Crypto longs lose $500 million as bitcoin slides to $78,000, SOL and XRP down 5%. A long-skewed liquidation cascade flushes leverage across major tokens overnight, tracking a global bond selloff and the worst session for U.S. stocks since March, indicating a significant shift in market sentiment and potential long-term price implications for the crypto market.
US CLARITY Act brings ‘major spike of euphoria’ to Bitcoin: Santiment
The US CLARITY Act sparks a 'major spike of euphoria' in Bitcoin, with Santiment warning that the crypto market typically moves against crowd expectations. Bullish sentiment surges as momentum around the Act builds, potentially setting the stage for a reversal. Market participants are advised to remain cautious, as this trend may not last, and a correction could be imminent.
Bhutan ‘doesn’t recall’ selling any bitcoin, disputing widely-tracked $1 billion BTC drawdown
Bhutan is disputing a $1 billion bitcoin drawdown, claiming it has not sold any, despite Arkham Intelligence data showing over $1 billion in bitcoin leaving wallets attributed to the country in the past year, flowing to exchanges and trading firms, sparking confusion and raising questions about the true source of the massive sell-off and its impact on global cryptocurrency markets.