Bitcoin’s 20-week rolling correlation with the S&P 500 has turned positive, a signal that has historically preceded major BTC price declines. Bitcoin (BTC) erased much of its US-Iran war-driven gains this week, moving back in sync with the broader downtrend in risk assets, mainly US equities. Key takeaways: Bitcoin’s positive flip in S&P 500 correlation has historically preceded average declines of around 50% since 2018. Read more
Indian crypto exchange CoinDCX says the fraud complaint is part of a wider impersonation scam, citing more than 1,200 fake sites using its brand. Indian crypto exchange CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal have reportedly been arrested in India following a police complaint alleging their involvement in a crypto investment fraud. The Economic Times reported Saturday that the pair were arrested by the Thane Police on allegations of criminal breach of trust, citing local officials. Other local media, including Entrackr, reported that the founders had been called for questioning rather than arrested. The case reportedly centers on a website that allegedly posed as the CoinDCX platform and stemmed from a first information report (FIR) filed by a 42-year-old insurance consultant who claimed to have lost about 71 lakh Indian rupees (roughly $75,000) after being lured to invest via the fake site, according to an earlier report by the Times of India. Read more
Welsh warned others to stay away from crypto and said that she still does not understand anything about the sector more than a year later. Hailey Welch, the online social media influencer, popularly known as the “Hawk Tuah girl,” said that the implosion of the “HAWK” memecoin, which she promoted in 2024, and the ensuing social backlash “traumatized” her. “I got talked into doing something that I didn't know anything about, really, but you've got to be really careful what you put your name on,” Welsh told Andrew Callaghan of the Channel 5 YouTube channel on Friday. Welsh said she fully cooperated with a Federal Bureau of Investigation (FBI) probe in 2025, which cleared her of any wrongdoing, and that she did not possess any of the funds from the memecoin launch, nor did she have the technical expertise to launch the coin. Read more
An attacker has exploited the Resolv USR stablecoin to mint 80 million tokens and has reportedly been able to cash out at least $25 million. A stablecoin tied to the crypto project Resolv Labs has lost its peg to the US dollar after an attacker was able to exploit the token’s contract to create millions of tokens for themselves. Resolv Labs posted to X on Sunday that it had experienced an exploit that allowed an attacker to mint 50 million unbacked Resolv USR (USR). “The team has currently paused all the protocol functions to prevent further malicious actions and is actively working on recovery,” it added. The X account “yieldsandmore” had posted to the platform earlier on Sunday that USR had crashed after on-chain data showed an attacker was able to mint 50 million USR by depositing $100,000 worth of the stablecoin USDC (USDC). Read more
A Nevada state judge has sided with local authorities to ban Kalshi’s sports, election and entertainment event contracts in the state for 14 days. A Nevada judge has temporarily blocked Kalshi from operating in the state, finding that state authorities are reasonably likely to prevail in a legal fight over whether the company’s event contracts violate Nevada gambling laws. Carson City District Court Judge Jason Woodbury issued a temporary restraining order on Friday, siding with a Nevada Gaming Control Board motion to block Kalshi from operating in the state for 14 days. "Prediction markets, to the extent they facilitate unlicensed gambling, are illegal in Nevada, and we have a statutory duty to protect the public," Nevada Gaming Control Board Chair Mike Dreitzer said in a statement to Reuters. Read more
The Commodity Futures Trading Commission staff has provided answers to frequently asked questions about the agency’s expectations around a crypto collateral pilot. The US Commodity Futures Trading Commission has given more details on its expectations for the use of crypto as collateral amid a pilot program that the agency launched last year. In a notice on Friday, the CFTC’s Market Participants Division and Division of Clearing and Risk responded to frequently asked questions that emerged from two staff letters issued in December that established a pilot allowing crypto to be used as collateral in derivatives markets. The notice reminded futures commission merchants wanting to take part in the pilot that they must file a notice with the Market Participants Division “which includes the date on which it will commence accepting crypto assets from customers as margin collateral.” Read more