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Coinbase Global (COIN) will join the Standard and Poor’s 500 (S&P500) index fund on May 19, financial information services platform S&P Global said in a recent statement.The crypto exchange will replace Discover Financial Services (DFS), which was recently acquired by Capital One Financial Corp (COF), S&P Global said on May 12.S&P Global’s confirmation of Coinbase Global being inserted into the S&P 500. S&P GlobalThe S&P 500 is a stock market index that tracks the performance of 500 of the largest, publicly traded companies in the US, representing a broad measure of the overall US stock market.Coinbase’s inclusion in the S&P 500 should increase demand for its stock because index funds and exchange-traded funds that track the S&P 500 must buy COIN shares to mirror the index.COIN shares immediately rose 8.8% to $225.4 in after-hours trading following the announcement, Google Finance data shows.Related: $45 million stolen from Coinbase users in the last week — ZachXBTThe crypto exchange joins Tesla and Block Inc. as the other large corporate Bitcoin holders currently in the index fund, which tracks an aggregate market cap of more than $49.8 trillion as of March 31.Source: Michael SaylorMagazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fightThis is a developing story, and further information will be added as it becomes available.

Gemini has announced that it has obtained an Investment Firm License from the Malta Financial Services Authority (MFSA), allowing the company to offer regulated derivatives across the European Union (EU) and European Economic Area (EEA) under the MiFID II framework. This development marks a significant step in Gemini’s 2025 European expansion, enabling the platform to […]

Ethereum is gaining serious momentum after a powerful 45% surge last week, reclaiming key price levels and fueling speculation about the start of a broader altseason. The second-largest cryptocurrency by market cap is now pushing into critical resistance zones that could define the next leg of this rally. After months of underperformance and bearish sentiment, ETH’s sudden strength is shifting investor focus back toward the altcoin market, with analysts pointing to Ethereum’s breakout as a potential spark for widespread recovery across the sector. Related Reading: HYPE Bulls Regain Control After Sharp Recovery – Approaching Yearly Highs? Top analyst Daan shared a technical analysis highlighting the significance of Ethereum’s recent move. According to Daan, the massive weekly candle—one of the largest in years—was driven by a combination of technical breakout and short squeezes, as a large number of bearish positions were caught off guard. This surge not only invalidated recent bearish structures but also marked a structural shift in momentum. With Ethereum now pressing into new territory and investor confidence rising, the market appears poised for renewed strength. If ETH continues to hold above current levels, it could pave the way for altcoins to follow in what may become the strongest altseason since 2021. Ethereum Reclaims Strength As It Tests Key Resistance Ethereum is finally showing signs of strength after months of sustained bearish pressure. Since late December 2024, ETH had been in a steady downtrend, losing more than 66% of its value as investors rotated into other assets amid macroeconomic uncertainty and dwindling altcoin demand. However, a major shift in sentiment emerged in early April, as Ethereum began climbing rapidly, gaining over 85% in just a few weeks. This rally has brought ETH back into critical resistance levels that could determine whether a sustained uptrend is now underway. Daan highlighted the significance of this move, stating that Ethereum is now at a “big level.” He noted that last week’s price action produced the largest weekly candle in years—an explosive move fueled by a massive short squeeze. Months of built-up bearish positions were flushed out as the rally caught many by surprise, sending prices sharply higher. Daan cautions that while the move is impressive, the next phase is about managing volatility: “Play this level by level,” he advises, “and watch for next week to develop to see where these alts are going to get picked up after the squeezes are done.” This moment is crucial not only for Ethereum but also for the broader altcoin market. ETH’s recovery is often a leading indicator of renewed risk appetite and capital rotation into smaller assets. With bulls now in control and price pressing into a key supply zone, how Ethereum behaves over the coming days could determine whether altseason truly begins—or whether this rally was just a reaction to overly bearish positioning. Either way, ETH’s strength has put the market back on alert. Related Reading: Solana Rallies Into Pivotal Zone – $180 Level Could Define Next Move Technical View: Price Surges Above Weekly Moving Averages Ethereum is showing clear signs of recovery on the weekly timeframe, breaking decisively above the 200-week exponential moving average (EMA) and simple moving average (SMA) for the first time since its downtrend began earlier this year. After reaching a weekly low below $1,400 just a few weeks ago, ETH has rallied aggressively, closing this week near $2,555—a 45% surge that marks its most explosive candle in over a year. The chart shows ETH pushing past the 200-week EMA at ~$2,259 and reclaiming the 200-week SMA at ~$2,451. Analysts often use these two long-term trend indicators to distinguish between bear and bull market phases. Ethereum’s ability to close above both signals a potential shift in sentiment and structure, especially after months of lower highs and declining volume. Volume on this breakout is also notable. The past two weeks have seen a significant uptick in participation, suggesting this move isn’t just a short squeeze, but potentially the start of a broader recovery trend. ETH still faces resistance in the $2,700–$2,800 zone, but reclaiming this range could open the door for a sustained rally into Q3. The next few candles will be key in confirming this bullish reversal. Featured image from Dall-E, chart from TradingView

Key Takeaways:Bitcoin exhibits a bearish breakout from an ascending channel, with the risk of profit-taking near $106,000.A lower-than-expected US Consumer Price Index (CPI) print could boost Bitcoin, but a higher CPI may increase bearish pressure, leading to a price drop below $100,000. Bitcoin (BTC) price reached an intraday high of $105,800 on May 12 but posted a 3% dip to $101,400 during the New York trading session. On the lower-time frame (LTF) chart, BTC oscillated between an ascending channel pattern before exhibiting a bearish breakout below the bottom range of the pattern. Bitcoin 1-hour chart. Source: Cointelegraph/TradingViewWith respect to BTC’s stalling bullish momentum, data analytics platform Alphractal noted that BTC re-testing nearing $106,000 resistance levels increased the likelihood of profit-taking risks. As illustrated in the chart, Bitcoin currently approaches the “Alpha Price” zone, where long-term holders or whales could take profits, according to Joao Wedson, CEO of Alphractal. Bitcoin Alpha Price Levels. Source: X.comFrom a liquidation standpoint, the risk of a “long” squeeze is also elevated, with over $3.4 billion in leveraged long positions at risk of liquidation if prices drop to $100,000. This range could act as a magnet for price, leading to a retest near the psychological level. Bitcoin exchange liquidation map. Source: CoinGlassRelated: Bitcoin all-time high cues come as US-China deal sends DXY to 1-month highCPI data looms as Bitcoin traders de-riskThe current BTC correction might reflect traders de-risking ahead of the US Consumer Price Index (CPI) release on May 13. Previously, March’s CPI, released April 10, was 2.4%, down from February’s 2.8%, despite a forecast of 2.5%. April’s CPI is forecasted to remain at 2.4%, due to steady energy prices amid balanced oil production and moderating wage growth, easing pressure on price increases.US Consumer Price Index data. Source: Investing.comA lower-than-expected CPI (potentially third in a row) could be bullish for Bitcoin, potentially signaling Federal Reserve rate cuts in 2025, boosting risk assets like equities and cryptocurrencies. Conversely, a higher-than-expected CPI could be bearish, raising inflation fears and strengthening the dollar, pressuring BTC.If bearish pressure persists on BTC charts even after the CPI print, an immediate key area of interest remains between $100,500 and $99,700, a fair value gap (FVG) on the four-hour chart. Another FVG remains between $98,680 and $97,363, which would represent an 8% correction from the recent highs. Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewRelated: Bitcoin, altcoins poised to rally on US-China tariff agreementThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The US government has asked a federal judge to impose a two-year sentence for Eric Council Jr., the individual who helped post a fake message announcing the approval of Bitcoin exchange-traded funds through the Securities and Exchange Commission’s (SEC’s) X account.In a May 12 filing in the US District Court for the District of Columbia, prosecutors recommended Judge Amy Berman Jackson sentence Council to two years in prison for his role in posting a message to the social media platform X suggesting that the SEC had approved spot Bitcoin (BTC) exchange-traded funds (ETFs) for the first time in January 2024. The fake announcement, which shook markets in the roughly 24 hours before the regulator actually approved spot Bitcoin ETFs, led to the arrest of Council.“This case deserves a guidelines range prison sentence,” said US prosecutors. “Defendant profited through a sophisticated fraud scheme involving fraudulently produced identification documents, a series of misrepresentations at telecommunication stores, and the transmission of password reset codes for victim online accounts to co-conspirators located in the United States and abroad. This conduct deserves a significant penalty.”US government’s May 12 sentencing recommendation for Eric Council. Source: PACERAs of May 12, Council’s legal team had not filed a response to the sentencing recommendation. He is scheduled to appear before Judge Jackson on May 16.Related: Ledger secures Discord after hacker bot tried to steal seed phrasesCouncil pleaded guilty to being part of a group that took control of the SEC’s X account through a SIM swap attack. With control of the regulator’s social media account, the hackers posted a fake message announcing the approval of spot Bitcoin ETFs. The SEC quickly removed the message and announced official approval of the crypto investment vehicles the following day.Many in the crypto industry had been anticipating whether the SEC would approve or disapprove of listing spot BTC investment vehicles on US exchanges when the fake X post appeared. The price of Bitcoin surged by more than $1,000 before then-SEC Chair Gary Gensler refuted the false post’s claims.DOJ leadership change-up under TrumpThe Council case and others will be decided under US Attorney picks who have not received confirmation in the Senate. President Donald Trump appointed interim leadership for the Eastern District of New York, the Southern District of New York, and the District of Columbia after facing pushback from Democrats.It’s unclear how the president’s influence could affect the Justice Department pursuing criminal cases involving digital assets, given his ties to the industry and his own crypto holdings. In New York’s Southern District, a judge ordered former Celsius CEO Alex Mashinsky to 12 years in prison after a December 2024 guilty plea. Magazine: SEC’s U-turn on crypto leaves key questions unanswered

Blockchain technology could enable “a broad swath of novel use cases for securities” and foster “new kinds of market activities that many of the Commission’s legacy rules and regulations do not contemplate today,” Securities and Exchange Commission (SEC) Chairman Paul Atkins said.During his keynote address at the Commission’s May 12 roundtable on tokenization and digital assets, Atkins welcomed “a new day at the SEC,” adding that “policymaking will no longer result from ad hoc enforcement actions. Instead, the Commission will utilize its existing rulemaking, interpretive, and exemptive authorities to set fit-for-purpose standards for market participants.”Source: U.S. Securities and Exchange CommissionA key priority will be to “develop a rational regulatory framework for crypto asset markets that establishes clear rules of the road for the issuance, custody, and trading of crypto assets while continuing to discourage bad actors from violating the law.”In particular, Atkins said the SEC would focus on establishing “clear and sensible guidelines” for crypto assets that could be considered securities. Another area of focus would be to allow brokers to offer a broader range of investment products on their platforms, which in some cases may mix securities and non-securities.Atkins’ approach moves away from former SEC Chair Gary Gensler’s, whose tenure was criticized by some industry participants for its “regulation by enforcement” method of oversight.Securities evolutionAtkins likened the tokenization of securities to the evolution of audio formats — from vinyl to cassettes to digital software — highlighting how each shift enhanced compatibility and interoperability across a wide range of devices and applications. This progression eventually gave rise to streaming content business models, which he said “greatly benefited consumers and the American economy.”SEC’s Crypto Task Force Roundtable on May 12. Source: SECSecurities tokenization is an ongoing topic at the intersection of traditional finance and crypto. Some asset management firms, like BlackRock and Franklin Templeton, have already jumped into tokenization through their respective BUIDL and BENJI tokenized US treasury funds. Robinhood is considering building a blockchain to allow European retail investors to trade tokenized US securities.Tokenized securities may attract interest from firms and brokerages due to features such as faster settlement times, reduced reliance on traditional financial infrastructure, and improved accessibility. Tokenization may also help provide liquidity to asset classes that have historically been illiquid.According to RWA.xyz, $22.6 billion of real-world assets are onchain, a 7.6% rise in the past 30 days. That doesn’t include stablecoins, which are often backed by real-world assets like treasury bills. Stablecoins have a $243 billion market capitalization as of May 12, according to data from DefiLlama. Tether’s USDt (USDT) alone has a market cap of $150.6 billion.Magazine: SEC’s U-turn on crypto leaves key questions unanswered

Ki Young Ju, CEO of Cryptoquant, states that due to upcoming regulations, dark stablecoins—an alternative not under government control—will rise as people use them for large international transfers and other use cases that may invite scrutiny. Cryptoquant CEO Predicts Rise of ‘Dark Stablecoins’ in Face of Upcoming Regulation The increasing relevance of stablecoins and the […]

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