Crypto

The crypto exchange giant's trading revenues fell 19% from its previous quarter amid challenges that afflicted crypto markets.

Standard Chartered’s head of digital assets research, Geoffrey Kendrick, said Bitcoin (BTC) appears on track to reach new record highs sooner than expected, driven by mounting institutional inflows and a global shift in asset allocation. In a May 8 investor note shared with CryptoSlate, Kendrick said he initially projected a $120,000 price target for the […] The post StanChart says Bitcoin could exceed $120K target for Q2 amid institutional, sovereign boom appeared first on CryptoSlate.

The deal reflects competition among crypto exchanges to dominate the burgeoning derivatives market.  Coinbase’s agreement to buy Deribit highlights the increasing importance of financial derivatives for cryptocurrency exchanges, according to industry executives.  On May 8, Coinbase, the US’s largest crypto exchange by trading volume, agreed to acquire crypto derivatives platform Deribit for $2.9 billion in the crypto industry’s largest corporate acquisition to date.   The deal reflects increasing competition among digital asset exchanges and brokerages — including Coinbase, Kraken and Robinhood — to dominate the burgeoning crypto derivatives market.  Read more

Pro Bitcoin traders might use bullish options strategies to build pressure on short sellers. Key takeaways: 97% of the $8.3 billion in Bitcoin put options expire worthless at a $102,000 BTC price. Short covering above $105,000 could trigger a Bitcoin price rally to new highs. Read more

The crypto exchange cited a drop in crypto prices as a result of U.S. President Donald Trump’s tariff policy and macroeconomic uncertainty as the reason behind the weak quarter.

Michelle Bond, facing campaign finance charges, is one of the last significant figures tied to cryptocurrency exchange FTX, through her husband, to be awaiting trial. Michelle Bond, the wife of former FTX Digital Markets co-CEO Ryan Salame, who faces federal campaign finance charges, is pushing for dismissal on the grounds that US prosecutors deceived her husband in a plea deal. In a May 7 filing in the US District Court for the Southern District of New York, Bond’s lawyers reiterated some of the claims Salame made in opposing his plea deal with the government, which ultimately still led to him serving time in prison. She claimed that prosecutors obtained a deal with Salame through “stealth and deception” by allegedly agreeing they would not file charges against Bond.  “Mr. Salame and Ms. Bond’s attorneys were advised that the agreement to cease investigating Ms. Bond could not be placed within the four corners of the Salame plea or other written agreement, but the government still offered it as an inducement...

The acquisition makes Coinbase the largest crypto derivatives platform and a credible rival to Binance.

Follow what's happening on Myriad Markets' most popular prediction markets from the price of Dogecoin to the next Pope.

Scott Bessent has told lawmakers in a House hearing that the United States should remain the premier venue for digital assets, praising new crypto proposals and saying stablecoin rules could bolster dollar use. Draft legislation has arrived amid Democratic protests over conflicts of interest. The post Scott Bessent Ignites Capitol Showdown with Historic Crypto Bill Endorsement appeared first on Cryptonews.

"Old king ETH is back, and it's ready to roar," one X user suggested.

The tech giant reportedly also hired a vice president of product with crypto experience to help with the stablecoin efforts.

The Senate denied the motion to invoke cloture on the motion to consider the GENIUS Act bill, which aims to regulate stablecoins in the US. The decision came with a one-vote difference, as 49 Democrat senators denied the motion against 48 favorable votes.  Senate Majority Leader John Thune accused Democrats of using the filibuster for […] The post GENIUS Act stalls in Senate, lawmakers eye new proposal next week appeared first on CryptoSlate.

It’s been a big week for Mog Coin, as Elon Musk and other notable tech leaders adopted the rising "mog/acc" trend taking over X.

Mashinsky pled guilty to securities and commodities fraud charges last December.

A federal court has agreed with the Trump-appointed US attorney to levy a harsh sentence on former Celsius CEO Alex Mashinsky. The US federal court for the Southern District of New York has sentenced former Celsius CEO Alex Mashinsky to 12 years in prison for fraud. Mashinsky’s legal team sought a light sentence. They highlighted his spotless record before the Celsius incident, along with his military service and willingness to plead guilty. But US prosecutors were less inclined to leniency, suggesting on April 28 that the judge deliver a 20-year sentence for his actions. Betting markets predicted a light sentence ahead of the May 8 hearing. Polymarket showed only 11% odds for a 20-year sentence or higher. Read more

The founder of the once-prominent crypto lender had requested a more lenient prison sentence of one year and a day.  

The impact of positive Bitcoin-related legislative and regulatory progress finally trickles down to BTC price as the top cryptocurrency rallies above $101,000. Key takeaways: Bitcoin rallies to $101,707 against a backdrop of strong fundamentals in the regulatory and traditional finance space. Traders are confident that $100,000 will hold as support. Read more

XRP price jumps as traders react to Trump’s trade deal tease, whale accumulation, and a bullish technical breakout. Key takeaways: XRP surged on May 8, boosted by risk-on sentiment following US President Donald Trump’s teased trade deal with the UK. Whale accumulation continues, with the number of addresses holding 10,000+ XRP rising steadily on price dips. Read more

Emirates General Petroleum Corporation (Emarat), the UAE’s federal government-owned fuel retailer, has partnered with Crypto.com to introduce crypto payments at fuel stations, marking a first in the Middle East and North Africa. The initial phase enables crypto payments at 10 Emarat stations across Dubai, with plans to expand the service throughout Emarat’s network, according to […] The post UAE state-owned Emarat partners with Crypto.com to integrate Bitcoin, crypto payments at gas stations appeared first on CryptoSlate.

The GENIUS Act failed to clear a procedure called cloture after pushback from Senate Democrats, who raised concerns about US President Donald Trump's crypto ventures. The Guiding and Establishing National Innovation for US Stablecoins of 2025 Act, known as the GENIUS Act, failed to pass cloture in the United States Senate on May 8, dealing a slight blow to cryptocurrency regulation in the country. The bill, sponsored by Senator Bill Hagerty and co-sponsored by Senators Tim Scott, Kirsten Gillibrand, Cynthia Lummis and Angela Alsobrooks, received last-minute pushback from Democrats, who took aim at the bill and raised concerns about US President Donald Trump’s cryptocurrency ventures. To address the concerns of Senate Democrats, the bill had already been amended to include stricter requirements for stablecoin issuers for further provisions for Anti-Money Laundering. Read more