Daily digests
Crypto News Digest: May 29, 2026
The stories that moved crypto on May 29, 2026.
40 stories
All crypto news
Bitcoin underperforms risk assets as record 9th day of ETF outflows signal waning demand
Bitcoin is underperforming risk assets as record 9th day of ETF outflows signals waning demand, with $34 million exiting funds on May 28, 2026, bringing total outflows to $304 million in May. This decline in institutional investment is weighing on the market, causing Bitcoin's price to drop below $27,500, raising concerns about its long-term sustainability.
Texas Bitcoin reserve plans shift from ETF to direct BTC custody
Texas is actively hiring a crypto custodian to manage its $10 million Strategic Bitcoin Reserve, shifting from BlackRock's IBIT ETF to direct BTC custody. This move aims to establish full state-level BTC infrastructure. The decision signifies growing institutional interest in direct Bitcoin ownership, potentially influencing market adoption and further legitimizing cryptocurrencies in mainstream finance.
Ukrainian Police Officers Allegedly Kidnapped Crypto Entrepreneurs to Extort Millions
Prosecutors claim two police colonels are organizing an extortion ring, allegedly tracking and abducting crypto entrepreneurs at gunpoint to extort millions. The colonels allegedly demanded Bitcoin and other cryptocurrencies from their victims, with one case reportedly involving a 20-million-hryvnia ransom. This brazen scheme undermines trust in Ukraine's law enforcement, raising concerns about the country's crypto regulatory environment and investor safety.
‘Extraordinarily unusual’ for CFTC to reverse Gemini settlement deal: Ex-chair
The CFTC is seeking to reverse a 2025 settlement with Gemini, a move described as "extraordinarily unusual" by a former agency chair. The CFTC and Gemini are jointly seeking a court's reversal, but the former chair argues the public deserves a better explanation for this reversal. This development may impact investor trust in regulatory decisions.
Bitcoin dip buyers place $500M in bids as $70K retest looms
Bitcoin dip buyers are aggressively placing over $500 million in bids near $70,000, signaling a potential retest of this key level. Options traders and futures positions are also converging around $70,000, indicating a strong accumulation point. This surge in buying activity may propel Bitcoin's price upward, bolstering its market momentum.
Hyperliquid bigger than NASDAQ, says ICE CEO Jeffrey Sprecher
Jeffrey Sprecher, ICE CEO, praises Hyperliquid, stating it has surpassed NASDAQ in size, highlighting a significant milestone in the convergence of traditional finance and crypto markets. This achievement underscores growing recognition of crypto-native platforms, with Sprecher's endorsement signaling a deeper collaboration between Wall Street incumbents and emerging crypto rails, driving market integration.
Strategy situation ‘out of hand,’ says Arca exec on $15B preferred stock burden
Arca's Jeff Dorman warns that Strategy's capital structure is under pressure due to $15 billion in preferred stock obligations, a staggering burden that threatens the company's financial stability. This alarming situation may prompt CEO to consider selling Bitcoin, a move that could have significant market implications, potentially destabilizing the cryptocurrency landscape.
Morning Minute: Hyperliquid Is 'Bigger Than Nasdaq'
The founder of the modern NYSE claims Hyperliquid is larger than the Nasdaq, with its combined $1.5 trillion in daily trading volume surpassing the exchange's $1.2 trillion. JPMorgan notes the debasement trade is unwinding, as investors seek safety in assets like the US dollar and gold, potentially impacting cryptocurrency markets and stablecoins.
Bitcoin ETFs bleed $2.8B in record nine-day outflow streak
Spot Bitcoin ETFs are experiencing a record nine-day outflow streak, totaling $2.84 billion, surpassing an eight-session outflow run in February 2025. This massive outflow indicates a significant decline in investor interest in Bitcoin ETFs, which could be attributed to market volatility or shifting investor sentiment, potentially impacting the overall cryptocurrency market and Bitcoin's price stability.
US has seized nearly $1 billion in crypto from Iran, Bessent says
The US has seized nearly $1 billion in crypto from Iran, according to Treasury Secretary Scott Bessent, a significant increase from the earlier reported nearly $500 million, highlighting the country's ongoing efforts to disrupt Iranian financial networks and impose sanctions, underscoring the growing role of crypto in international finance and geopolitical tensions.
‘The banks will not accept it’: Dimon escalates battle over stablecoin rewards in CLARITY Act debate
Jamie Dimon, JPMorgan CEO, sharply criticizes Coinbase's Brian Armstrong, warning the CLARITY Act framework may fail due to disagreements between banks and crypto firms over stablecoin rewards. Dimon argues banks won't accept yield-bearing stablecoins, while Armstrong supports the current framework allowing issuers to offer rewards. This clash threatens the bill's passage and crypto's potential integration with traditional finance.
Celsius Founder Alex Mashinsky Files to Have 12-Year Crypto Fraud Sentence Vacated
Alex Mashinsky, Celsius founder and former CEO, files to vacate his 12-year prison sentence for allegedly orchestrating a crypto fraud scheme, citing a legal conflict tied to Sam Bankman-Fried, the former FTX CEO. The move could potentially impact the ongoing trial and may see Mashinsky's sentence reduced or even dismissed, affecting his financial penalties and reputation.
Treasury Secretary Bessent Says US Has 'Grabbed' $1 Billion in Crypto From Iran
Treasury Secretary Scott Bessent announces the US has seized approximately $1 billion worth of cryptocurrencies from Iran through various seizures, a significant blow to the country's illicit financial networks. This move demonstrates the US's growing ability to disrupt and dismantle global cryptocurrency-based money laundering operations, further solidifying its position in the global crypto landscape.
CFTC backs crypto perpetual contracts, issues advisory on 24/7 trading
The CFTC issues notices affecting platforms offering cryptocurrency perpetual futures contracts, including a no-action position for Coinbase, allowing it to continue trading without regulatory action, and approval for Kalshi, a new platform. This advisory provides guidance on 24/7 trading, impacting the global crypto market, particularly affecting US-based exchanges, and may lead to increased adoption of perpetual contracts.
'He’s Full of Shit': JP Morgan's Jamie Dimon Takes Aim at Coinbase CEO Over Clarity Act
JP Morgan's Jamie Dimon is strongly opposing the Clarity Act, a crypto market structure bill, calling Coinbase CEO Brian Armstrong "full of shit" in a heated exchange, vowing to fight its passage until the bitter end, indicating a deep-seated disagreement between traditional finance and the crypto industry, with implications for regulatory clarity and industry growth.
Sui Network Goes Down for Second Straight Day as Weekly Token Slide Hits 20%
The Sui Network experiences its second consecutive day of downtime, causing significant disruptions. The Sui token is among the top 100 worst-performing cryptocurrencies, with a 20% decline in value over the past week. This decline is largely attributed to the network's outages, which have raised concerns about its stability and reliability, impacting investor confidence in the market.
CFTC opens door for crypto perpetual future contracts in US as Coinbase, Kalshi move forward
The Commodity Futures Trading Commission (CFTC) is opening the door for crypto perpetual future contracts in the US, allowing companies like Coinbase and Kalshi to offer these products. This move enables the listing of perpetual futures contracts with no expiration dates, potentially increasing trading volumes and liquidity for these companies.
Live markets: Bitcoin shrugs off early decline, but two-month winning streak is in jeopardy
Bitcoin is currently recovering from an early decline, shrugging off losses after a hopeful posting from President Trump about Iran helped to stabilize the market. The price has regained some of its earlier losses, but a two-month winning streak is still in jeopardy, with investors remaining cautious and awaiting further developments in global politics and economies. Market sentiment remains uncertain.
JPMorgan CEO Jamie Dimon blasts Coinbase’s Brian Armstrong, plans to fight Clarity Act
JPMorgan CEO Jamie Dimon strongly criticizes Coinbase's Brian Armstrong, stating that he is spending hundreds of millions of dollars in an effort to get the Clarity Act passed. Dimon plans to actively fight the legislation, which aims to regulate stablecoins and protect consumers.
Coinbase brings global crypto derivatives markets to US institutional clients
Coinbase is bringing global crypto derivatives markets to US institutional clients through its integration with Deribit, providing access to international options and perpetual futures markets. Eligible US institutional investors can now trade these derivatives, expanding their investment options. This move is expected to increase institutional participation in the global crypto market, driving liquidity and adoption.
NYSE Parent Isn't 'Freaked Out' by Hyperliquid—It's Learning From the Crypto Perps Giant
Intercontinental Exchange CEO Jeffrey Sprecher emphasizes his company is learning from Hyperliquid, a crypto perps giant, as it gains ground. He expresses confidence in the collaboration, stating his company isn't 'freaked out' by the development. This strategic approach suggests a willingness to adapt and integrate crypto elements into traditional markets, potentially paving the way for increased mainstream acceptance and adoption.
You Can Now Read the US Constitution via the Bitcoin Blockchain
A US Constitution copy is being inscribed on a Bitcoin block, courtesy of an $83 transaction fee. The unusual move is a testament to the blockchain's permanence. As a result, the Constitution will remain on the Bitcoin blockchain indefinitely, serving as a unique example of how the decentralized ledger can preserve historical documents and information.
Sui network temporarily stalls again after Thursday's outage
The Sui network experiences another temporary stall, caused by the same network update software bug that led to nearly six hours of downtime on Thursday. This recurring issue raises concerns about the protocol's stability and reliability, potentially impacting user trust and adoption, as developers scramble to resolve the issue and prevent future outages.
Lenovo Stock Doubles in May on AI Server Boom—Best Month in 27 Years
Lenovo's stock price doubles in May, marking its best month in 27 years, with a 109% surge. The company's AI revenue reached 38% of quarterly sales, prompting Goldman Sachs to more than double its target. This significant growth is driven by Lenovo's increasing focus on AI servers, a rapidly expanding market with substantial implications for the tech industry.
Coinbase Becomes First US Exchange Allowed to Offer Global Crypto Perps Trading
Coinbase becomes the first US exchange allowed to offer global crypto perpetual futures trading, giving U.S. customers access to offshore leveraged crypto trading. The CFTC's approval allows Coinbase to offer this high-risk trading option, expanding its product offerings. This move is expected to increase trading volumes and attract more sophisticated investors to the platform.
CFTC Approves Bitcoin Perpetual Futures on Prediction Market Kalshi
The CFTC has approved Kalshi to offer Bitcoin perpetual futures in the U.S., with contracts tied to Bitcoin's price. This marks a significant development, expanding access to derivatives for U.S. investors. Kalshi will now be able to offer this product, likely increasing liquidity and trading opportunities for Bitcoin enthusiasts, further integrating it into mainstream financial markets.
Texas appoints CleanSpark exec, bitcoin miner CEO to Strategic Bitcoin Reserve committee
Texas appoints CleanSpark exec, bitcoin miner CEO, to the Strategic Bitcoin Reserve committee, overseeing the state's bitcoin reserve. The reserve is transitioning from Blackrock's IBIT to direct bitcoin holdings, with a custodian to be appointed. This move aims to increase Texas's control and potentially reduce fees associated with traditional custody solutions, impacting the state's bitcoin holdings and market dynamics.
Clarity Act Risks Regulation Without Oversight, Brookings Fellow Says
Congress weighs crypto legislation, and Brookings Fellow Aaron Klein warns that the Clarity Act risks regulation without proper oversight. Klein emphasizes that the CFTC needs more resources, independence, and coordination to effectively oversee digital markets, which are rapidly expanding with 500 new cryptocurrencies launched in the past year, affecting global market stability and investor confidence.
Mass deployment of AI agents is a disaster waiting to happen, says CertiK CEO
CertiK CEO Ronghui Gu warns that mass deployment of AI agents poses a significant risk, emphasizing the need for isolation during testing to prevent unauthorized access to sensitive information and digital assets. Gu advises implementing robust security measures to safeguard against potential AI agent malfunctions, highlighting the importance of responsible AI development and deployment practices.
Ethereum analysts say ‘downside pressure’ remains as $1.8K becomes key
Ethereum analysts warn of elevated downside risks as traders closely monitor the $1,800 support zone for stability, a key level that could determine Ether's short-term trajectory. With $1,800 becoming a crucial benchmark, any significant breach could lead to further selling pressure, potentially impacting the broader cryptocurrency market's sentiment and price stability.
Wintermute Is Providing Liquidity on Kalshi and Polymarket, Linking Two Giants
Wintermute is providing liquidity on Kalshi and Polymarket, the two largest prediction markets, linking their flows according to a source. This move will facilitate seamless trading between the two platforms, increasing their combined market presence. The integration will also enhance the overall prediction market experience, benefiting users and potentially boosting the industry's growth.
U.S. regulator says 24/7 trading is great for crypto, may not be fit for other sectors
The CFTC is issuing landmark approvals for crypto perpetual futures contracts, allowing 24/7 trading, but warns that this level of activity may not be suitable for other sectors. The regulator's advisory highlights the unique characteristics of cryptocurrencies, which enable high-frequency trading. This move is expected to boost crypto trading volumes and liquidity, potentially solidifying its position in the financial markets.
Ex-Celsius CEO files motion to vacate sentence after lawyers withdraw
Alex Mashinsky, the former Celsius CEO, files a motion to vacate his 12-year sentence, citing claims of a "hostile takeover" by a former Celsius executive, who received a time-served sentence. The motion also references FTX, highlighting potential connections between the cases. This development may impact the broader crypto regulatory landscape and investor confidence.
Bitcoin plums new six-week lows as analyst eyes BTC price dip 'end' at $72K
Bitcoin is currently trading at new six-week lows, having fallen to its lowest levels since mid-April, with its price action diverging from the thriving US stock markets. Analysts expect the price dip to end at around $72,000, but for now, the cryptocurrency remains under pressure, weighing on investor sentiment and market confidence.
AI Models Can’t Agree on Basic Facts Most of the Time, Study Shows
Researchers are finding that AI models struggle with basic fact-checking, as a new study reveals that five cutting-edge AI models disagreed on 67% of 1,000 real-world claims. This discrepancy highlights the limitations of current AI technology, raising concerns about its reliability and accuracy in critical applications, including finance and healthcare.
Bitcoin falls out of the global top 10 assets as market cap dips below $1.5T
Bitcoin's market cap has dropped below $1.5 trillion, pushing it out of the world's top 10 assets as investors increasingly turn to AI stocks and precious metals. This shift is driven by growing adoption of alternative assets, with AI stocks experiencing significant gains and precious metals seeing increased demand due to economic uncertainty. The market's diversification is a key trend.
Paxos wins SEC approval to clear U.S. stocks on blockchain
Paxos secures SEC approval to clear U.S. stocks on blockchain, positioning it alongside legacy giants like DTCC. This license enables Paxos to offer a more efficient alternative for traditional finance companies, potentially disrupting the status quo. The move could accelerate blockchain adoption in the financial sector, driving innovation and cost savings.
Bitcoin ETFs Shed $2.8B in Record-Breaking Nine-Day Streak
Bitcoin ETFs are experiencing a record-breaking nine-day streak of outflows totaling $2.8 billion, with investors withdrawing funds from these products. This decline in demand adds to the trend of whales reducing their accumulation, indicating a challenging period for the crypto market, which is already grappling with declining prices and investor sentiment.
CoinDesk 20 performance update: Bittensor (TAO) drops 4%, leading index lower
The CoinDesk 20 index is currently trending lower, with Bittensor (TAO) experiencing a 4% decline, leading the drop. Internet Computer (ICP) also underperformed, down 3.8%. This decline is part of a broader market shift, as investors reassess their portfolios and adjust to changing market conditions, potentially impacting overall market sentiment and cryptocurrency prices.
NYSE parent ICE pushes ‘level playing field’ for 24/7 onchain perps
NYSE parent ICE's CEO is pushing regulators to create a "level playing field" for launching 24/7 onchain perpetual contracts, already trading on exchanges like Hyperliquid, with over 1 million users. This move aims to standardize onchain derivatives, potentially increasing liquidity and adoption, which could boost the overall cryptocurrency market's credibility and mainstream appeal.