Author: John Smith

K Wave Media reversed its $485 million Bitcoin treasury plan today, redirecting funds to AI data centres and GPUs Summary K Wave Media scrapped its $500 million Bitcoin treasury strategy and redirected approximately $485 million to AI data centres and GPU infrastructure. Shares fell 24% on the announcement, which also came with a company rebrand to Talivar Technologies, pending shareholder approval. CEO Ted Kim called the reversal “a defining inflection point,” making K Wave one of the most abrupt corporate Bitcoin strategy pivots on record. K Wave Media scrapped its Bitcoin treasury strategy on May 5 and redirected the capital…

Pi Network co-founders took the Consensus 2026 stage in Miami, six days before Protocol 23 activates on May 11 Summary Dr. Chengdiao Fan spoke at Consensus 2026 on May 6 on aligning Web3, AI, and blockchain for utility at the Convergence Stage. Nicolas Kokkalis joined a May 7 panel on proving human identity online without exposing personal data. Both sessions are timed to build momentum ahead of Pi Network’s Protocol 23 launch, which activates on May 11. Pi Network co-founders Dr. Chengdiao Fan and Nicolas Kokkalis both appeared at Consensus 2026 in Miami this week, speaking to over 20,000 attendees…

U.S. stocks opened higher on Tuesday, with major indexes gaining and AI‑linked storage names outperforming, even as PayPal sank about 10% after disappointing profit guidance. Summary Galaxy Digital and State Street Investment Management have launched the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), a tokenized cash management product aimed at delivering 24/7 on-chain liquidity. The fund lets institutional investors subscribe and redeem using stablecoins while earning yield on underlying traditional securities, initially on Solana with plans to expand to Ethereum and Stellar. Galaxy provides tokenization infrastructure, Anchorage Digital handles digital asset custody, and State Street manages the off-chain portfolio,…

Michael Saylor says his Bitcoin vehicle Strategy has realized 63,410 BTC of “Bitcoin Gain” in 2026, lifting its stash to over 815,000 BTC, or about 3.9% of total supply. Summary Michael Saylor says his Bitcoin-focused vehicle Strategy has generated 63,410 BTC in “Bitcoin Gain” so far in 2026, worth about $5.1 billion at current prices. He adds that Strategy’s BTC stash now represents roughly 3.9% of Bitcoin’s fixed 21 million‑coin supply. Saylor has repeatedly argued that “Bitcoin Gain” is the metric “closest to Net Income under the Bitcoin Standard,” reframing profitability in BTC terms rather than dollars. In a new…

The United Arab Emirates Innovation City has rolled out a blockchain-based system that assigns every registered company a sovereign, verifiable digital identity on-chain. Summary Innovation City now issues on-chain business identities to all registered companies using OPN Chain infrastructure. Officials said the system replaces static licenses with verifiable digital records that track ownership, compliance, and activity. The rollout ties into the UAE’s plans to move 50% of government services to AI-driven systems within two years. According to an official announcement from Innovation City, businesses incorporated in the Ras Al Khaimah free zone now receive a cryptographically secured identity issued through…

Ripple has begun sharing its internal threat intelligence on North Korean hacking operations with the crypto industry, expanding how firms respond to insider-driven attacks. Summary Ripple has begun sharing internal data on North Korean threat actors with Crypto ISAC to help firms detect insider-driven attacks earlier. Security teams have identified a shift from smart contract exploits to long-term infiltration, where attackers gain trust and access before moving funds. According to Crypto ISAC, the move follows incidents where attackers bypassed code vulnerabilities and instead infiltrated teams over months, a pattern highlighted in the Drift case. Details released by Ripple and Crypto…

Uphold has pushed back against the New York Attorney General’s statement on its $5 million CredEarn settlement.  Summary Uphold says the NYAG statement misrepresented key facts about its $5M CredEarn settlement. The NYAG said more than 6,000 Uphold customers lost over $34M after Cred collapsed. Uphold said it froze Cred’s platform access within hours after learning about liquidity issues. The company shared the update with crypto.news after the regulator said Uphold misled investors by promoting Cred LLC’s crypto yield product.  In its response, Uphold said the Attorney General’s statement misrepresented key facts about the settlement. The company also rejected any…

Prediction markets are moving closer to institutional finance as large investors seek direct ways to trade event risk, according to a May 4 Bernstein report.  Summary Bernstein says Kalshi’s first bespoke block trade could attract institutions seeking direct event-risk exposure. Greenlight brokered the Kalshi trade, with Jump Trading providing liquidity for a carbon allowance contract. Retail still drives prediction markets, with Polymarket and Bitget reporting $25.7B in March volume. The firm said these markets can help investors track outcomes tied to tariffs, elections, policy decisions and geopolitics through clear yes-or-no contracts.  Bernstein pointed to Kalshi’s first bespoke institutional block trade…

US voters ranked crypto last among election priorities in an April poll of 1,000 registered Americans. Summary Just 1% of registered US voters named crypto their top concern; only 3% called it the single most important 2026 midterm issue. Majorities of independents, Democrat-leaning voters, and base Democrats all held unfavorable views of cryptocurrency in the poll. Despite low priority rankings, 22% said crypto is an important issue and 40% would vote for a candidate aligned on digital assets. Public Opinion Strategies conducted the poll in late April on behalf of CoinDesk, surveying 1,000 randomly selected registered US voters with a…

Chainlink price rose 3% on May 4, its biggest single-day gain in two weeks, as Consensus 2026 opened. Summary LINK climbed alongside Bitcoin’s return above $80,000, with the broader risk-on session lifting infrastructure tokens across the board on May 4. Chainlink’s CCIP cross-chain protocol averaged $90 million in weekly token transfers in recent months, providing a fundamental backdrop for the price move. LINK had been trading in a tight range between $8.70 and $9.58 for most of April, making May 4’s move its most decisive session in two weeks. LINK rose alongside Bitcoin’s $80,000 reclaim and the Consensus 2026 conference…