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Bitwise CIO warns failed crypto bill could trigger rough summer for markets

Bitwise chief investment officer Matt Hougan has expressed concern about Congress derailing the current momentum fueling the crypto industry. In a recent article, Hougan said the recent decision of nine Democrat senators to oppose the Stablecoin Act could affect the Bill’s progress.
According to Ho
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Ethereum’s Pectra upgrade arrives on May 7 as scheduled

Ethereum (ETH) is preparing for its Pectra upgrade on May 7. The fork may bring more dynamics to the otherwise stagnant token price
The long-awaited Ethereum Pectra upgrade is coming on May 7, bringing changes to end-user experience, as well as network scalability. The upgrade is expected at
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86% of Russian pyramid schemes go after victims’ crypto

An overwhelming majority of financial pyramid schemes operating in Russia target investors’ crypto funds, according to new data released by the country’s central bank.
The Russian monetary authority has registered a spike in the number of fraudulent players offering fake investment opportunities in
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Top Google search result for HyperSwap is a sponsored ad meant to drain your wallet

Web3 anti-scam platform Scam Sniffer sounded the alarm on a HyperSwap crypto phishing scam, the latest in a trend of threat actors using Google Ads to infiltrate unsuspecting victims’ wallets
Scam Sniffer shared the warning in a post on X (formerly Twitter), revealing that the top Google search re
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Insiders made $100 million on MELANIA token minutes before Melania Trump’s post

The Financial Times has uncovered how insiders made $99.6 million on the MELANIA memecoin. According to the report, the insiders bought the token a few minutes before its official launch and cashed out big on the trade.
The report identified 24 addresses that bought 16.77 million of the Melania
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Canadian manufacturers turn away from U.S. amid Trump tariffs

Canadian manufacturers are targeting new markets for their trade as U.S. tariffs under President Donald Trump unsettle the trade links between the two countries.
A British Columbia firm that produces capsules and tablets for the drug industry is now looking for partners in Asia, while a steel
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AI agent platform Virtuals Protocol is now mostly controlled by whales

Virtuals Protocol (VIRTUAL) is one of the hottest recovering tokens, boosting several other AI agents. However, on-chain data shows VIRTUAL has shifted to whale wallets, which control most of the supply
Virtuals Protocol (VIRTUAL) has seen more funds from whales, signaling accumulation in the
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Squid Game tied memecoins rally 5%+ after the show’s third and final season teaser

A teaser for the third and final season of Netflix’s global hit Squid Game has triggered a short-term rally for memecoins associated with the series. One Squid Game-branded token (SQUID) has surged by over 5% hours after the trailer featured on YouTube late Monday.
Netflix confirmed that Squid Game
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Trump and Wall Street’s top execs flying to Saudi next week to talk oil and gas

President Donald Trump is flying to Saudi Arabia next week with a group of America’s most powerful financial and tech leaders, where they will push for new oil and gas deals as part of a broader effort to get the Gulf to spend more money in the United States.
The trip, which will include stops in
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RWA tokenization market surges to new all-time high

On-chain data showed that tokenized real-world assets just hit an all-time high of $22.1 billion, a 10.5% rise in just 30 days. RWA.xyz analytics platform revealed the surge was driven by private credit and U.S. Treasury debt.
Last week alone saw many announcements from traditional financial
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In April, top crypto narratives and tokens gained ground against BTC

Several crypto narratives have reawakened in the past month, making gains relative to Bitcoin (BTC). Despite the sluggish altcoin season, several classes of tokens showed they still appealed to traders
Several leading narratives recovered in April, showing relative strength against Bitcoin (BTC).
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Samourai Wallet accuses US authorities of concealing legal advice

Attorneys representing the co-founders of Samourai Wallet are claiming that US federal prosecutors concealed a legal opinion from the Treasury Department for more than a year, one that could undercut the government’s case against the service
The allegations, filed in a letter to a Manhattan federa
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How Miners Can Protect Their Profits Amid Market Volatility

In the cryptocurrency market, price fluctuations are often one of the biggest challenges miners face. For many miners, even though they are using highly efficient mining equipment, the instability of market prices can still have a significant impact on their profits. In this context, how to ensure a
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Alex Mashinsky faces a ‘death-in-prison sentence’ for Celsius collapse

Alex Mashinsky, the former CEO and co-founder of defunct crypto lender Celsius Network, is pushing back against what he calls a “venom-laced” attempt by federal prosecutors to secure a de facto life sentence. In a May 5 reply to the memorandum from the US Justice Department, the defendant is
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SEC stalls Canary $LTC ETF decision and opens public comment period

The U.S. Securities and Exchange Commission (SEC) has once again delayed the decision on Canary Capital’s proposal for a spot Litecoin (LTC) exchange-traded fund (ETF).
The SEC’s most recent action comes after the regulator decided to postpone verdicts on active altcoin ETF filings until June 17. T
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Market signal from Bitcoin shows the S&P 500 will surge massively in the short term

The S&P 500 is heading toward a new high, and Bitcoin is the one showing the way. That’s what Tom Lee, head of research at Fundstrat Global Advisors, laid out during a market segment this week, where he broke down why he thinks the rebound in crypto points directly to more upside for
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Ethermail introduces Stake4Ads, offering guaranteed ad space to EMT token holders

Ethermail introduced its Web3 advertising feature, Stake4Ads. Holders of the EMT token can receive guaranteed ad credits in exchange for staking
The Stake4Ads feature by Ethermail allows businesses to allocate a more predictable advertising budget. All holders of EMT tokens can stake the crypto
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CFTC joins tokenization pilots to learn crypto’s real-world impact

The US Commodity Futures Trading Commission (CFTC) will watch tokenization pilots to assess crypto’s real-world impact
Caroline D. Pham, acting chairperson of the CFTC, spoke at the Medici Conference, and she said they intend to monitor multiple tokenization pilot schemes. She noted that they
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