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South Korean authorities have charged several individuals connected to the Solana based meme coin project CatFi, marking the first prosecution under the country’s new Virtual Asset User Protection Act. The case follows allegations that the project was used to carry out a coordinated rug pull after attracting substantial investor funds.

According to a statement released on Wednesday by the Seoul Southern District Prosecutors’ Office, five people have been charged in relation to the scheme. Two of the main suspects are currently in custody, while three others have been indicted without detention.

Fake Promotions and Misleading Investor Tactics

Investigators claim the group launched CatFi in early 2025 through Pump.fun, a Solana meme coin platform. The token quickly gained investor attention after its listing, but prosecutors allege the team abandoned the project once significant capital had been collected.

The case is considered a landmark legal action because it is the first time South Korea’s Virtual Asset User Protection Act has been applied to a rug pull involving fraudulent and unfair trading practices. It is also believed to be the country’s first prosecution involving a cryptocurrency crime conducted through a decentralized exchange, an area that has traditionally been difficult for regulators to oversee.

Authorities allege the suspects created a deceptive marketing network to generate interest in CatFi. One individual reportedly posed as an independent cryptocurrency influencer and promoted the token to potential investors. Another suspect managed official project communications, where follower counts were allegedly inflated and false claims were made about token lockup arrangements to create an illusion of stability and long term commitment.

Prosecutors further claim the group moved tokens between multiple wallets and engaged in wash trading to conceal their control over the supply while creating the appearance of genuine market activity. Following the launch, CatFi’s price reportedly soared by approximately 1,001 times within just 26 hours. During that period, around 6,000 investors purchased the token.

Millions Lost by Investors

Authorities stated that 256 investors later reported combined losses of roughly 900 million Korean won, equivalent to about $600,000. Meanwhile, the suspects are believed to have earned more than 400 million won in profits.

The project initially attracted attention from blockchain analysts who traced wallet activity and publicly identified those allegedly involved. However, police initially closed the investigation after the suspects claimed they had been victims of a hacking incident.

The case was reopened after South Korea’s Financial Services Commission referred it to prosecutors. A joint investigation involving a specialized cryptocurrency crime unit, financial regulators, and tax authorities eventually tracked down the suspects. One individual reportedly avoided arrest for three months by using disguises.

Two suspects were arrested on May 11, while the remaining three were detained later on Wednesday.

Pump.fun Remains Highly Active Despite Concerns

Pump.fun has faced growing criticism for facilitating speculative token launches on Solana, where many newly created meme coins have been linked to scams such as rug pulls and pump and dump schemes. The platform’s simple token creation process and low transaction costs have contributed to rapid trading activity.

Despite these concerns, Pump.fun became one of the highest revenue generating applications within the Solana ecosystem in 2025. It was among seven Solana based applications that generated more than $100 million in revenue during the year.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

The United Kingdom has announced sanctions against 18 cryptocurrency platforms, financial institutions, and payment networks allegedly linked to Russia’s efforts to circumvent international sanctions through the Kremlin backed A7 payment network.

Authorities claim the targeted entities processed more than $90 billion in transactions during 2025, helping sustain financial channels connected to Russia’s ongoing war in Ukraine.

Major Crypto Exchanges Accused of Facilitating Sanctioned Transactions

A report from TRM Labs identified several crypto platforms, including HTX, EXMO, BitPapa, and Rapira Group, as being connected to financial activity involving sanctioned Russian networks.

According to the findings, HTX alone processed more than $4.9 billion in on chain transactions involving UK sanctioned entities and the A7 network since 2021. Of that amount, approximately $1.13 billion reportedly moved after the March 2025 shutdown of the Russian crypto exchange Garantex. Nearly $838 million of those funds were allegedly directed to the A7 network during the previous year.

Researchers noted that activity linked to Russian financial networks continued even after Garantex ceased operations. Instead of disappearing, transaction flows allegedly shifted toward replacement platforms and payment services, including Rapira, Aifory Pro, Grinex.io, and ABCex.

The report further states that EXMO conducted more than $19.5 million in direct transactions with sanctioned entities such as Garantex and Chatex. BitPapa was also reportedly involved in transferring millions of dollars to the same network of actors.

Billions Moved Through Alternative Payment Channels

TRM Labs found that Rapira processed over $543 million in transactions, including approximately $375.6 million connected to Grinex.io. Aifory Pro reportedly transferred more than $189 million, with $175.2 million linked to ABCex.

ABCex itself recorded roughly $355 million in transactions involving sanctioned firms. The platform allegedly sent $175.2 million to Aifory Pro, $133.4 million to Garantex, and $38.1 million to Rapira.

As part of the sanctions package, all 18 entities have been added to the UK Consolidated List. Businesses operating within the United Kingdom are now legally required to freeze assets associated with the sanctioned organizations and prevent any transactions involving them.

UK Government Vows to Block Sanctions Evasion

Speaking on the new measures, Yvette Cooper emphasized the government’s commitment to disrupting financial networks that support Russia’s war efforts.

She stated that any belief by the Kremlin that it can avoid sanctions through cryptocurrency networks or shadow financial systems is misguided. Cooper added that the latest restrictions are intended to cut off funding channels that help sustain Russia’s military operations in Ukraine.

Russian Linked Crypto Activity Continues to Expand

The sanctions also target individuals believed to be connected to the A7 network. According to government findings, the operation is supported by a Kyrgyz financial institution suspected of facilitating payments within the system. Officials also pointed to a major international crypto exchange that allegedly routed more than $1.5 billion back into financial channels associated with Kremlin linked entities.

A separate analysis from TRM Labs found that illicit cryptocurrency activity increased significantly last year, with Russian related transactions accounting for a substantial portion of the growth.

One of the biggest contributors was the A7A5 token, which reportedly generated around $72 billion in trading volume. Wallets directly linked to the A7 network were responsible for an additional $39 billion in transactions. Investigators believe that much of this activity flowed through Garantex and Grinex, highlighting the continued role of alternative crypto infrastructure in facilitating high value financial transfers despite international sanctions.#crypto#cryptonews https://t.me/coinsignalpublic https://coinsignals.net

A major security breach has struck the decentralized finance sector after attackers drained approximately $7.3 million from more than 1,400 liquidity pools connected to legacy DxSale contracts on BNB Chain.

Blockchain security researchers believe the incident may be linked to vulnerabilities within an older DxSale locker contract, raising fresh concerns about the risks associated with outdated smart contracts and weak administrative controls.

How the Attack Unfolded

The exploit was first highlighted by blockchain security monitor PeckShieldAlert, citing findings from an on chain investigator known as Tahax. According to their analysis, attackers targeted over 1,400 legacy DxSale liquidity pool contracts and successfully extracted roughly $7.3 million worth of digital assets.

Following the theft, the funds were reportedly routed through AnySwap in an effort to obscure transaction trails and complicate tracking efforts.

PeckShield further revealed that a wallet identified as “0xC457…FA69” transferred 2,958 BNB, valued at approximately $1.87 million, into two primary addresses. The funds were later moved through multiple Binance deposit wallets, suggesting attempts to further disperse the stolen assets.

Questions Surround DxSale’s Locker Contract

DxSale gained popularity several years ago as a token launchpad that allowed blockchain projects to create tokens and liquidity pools without building their own infrastructure. Many projects launching on BNB Chain relied on the platform to lock their liquidity provider tokens.

According to Tahax, numerous liquidity pools remained locked within the platform for years, with project teams and investors assuming the assets were secure.

However, the investigator claims that around nine months ago, ownership of the locker contract was quietly transferred by the DxSale deployer to a new wallet. No public announcement or migration guidance was reportedly issued at the time.

Tahax further alleged that the locker contract was not publicly verified and may have contained a hidden backdoor vulnerability. This weakness could have allowed the attacker to gain unauthorized control over locked assets.

The report states that the wallet linked to the exploit was newly created, funded through Bybit, and potentially connected through AnySwap. Shortly after obtaining control of the locker contract, the attacker allegedly began draining liquidity pools.

At the time of reporting, DxSale had not released an official statement addressing the incident.

DeFi Security Challenges Continue to Escalate

The DxSale breach is the latest in a string of attacks targeting decentralized finance platforms. Industry estimates suggest that crypto projects lost at least $650 million to exploits and security incidents in April alone.

Security concerns have persisted throughout May. Last week, attackers reportedly stole more than $11 million from the Verus Bridge by exploiting flaws in its payment verification mechanism. Researchers explained that the hacker was able to submit a minimal transaction that passed validation checks while unlocking significantly larger withdrawals from the bridge’s reserves.

Earlier in the month, liquidity provider Trusted Volumes suffered losses of approximately $5.9 million after an attacker exploited weaknesses in its custom settlement architecture. Analysts noted that the vulnerability stemmed from inconsistencies between authorization checks and fund withdrawal mechanisms.

Meanwhile, THORChain also faced security issues. Blockchain investigator ZachXBT reported that the protocol may have lost more than $10 million, triggering a rapid 15% decline in the value of its native RUNE token.

Industry Experts Sound the Alarm

The growing frequency of DeFi exploits has intensified concerns among security professionals. Manuel Aráoz, co founder of OpenZeppelin, recently argued that much of the decentralized finance ecosystem remains vulnerable. He warned that attackers equipped with artificial intelligence tools are increasingly capable of identifying and exploiting weaknesses faster than development teams can detect and fix them.

As security threats continue to evolve, the latest incidents highlight the importance of regular contract audits, transparent governance practices, and proactive monitoring of legacy infrastructure across the DeFi landscape.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Bitcoin has stabilized above the $73,000 level after a volatile week that saw the broader cryptocurrency market come under pressure. While most major digital assets have struggled to regain momentum, Stellar (XLM) has emerged as the standout performer, extending its impressive rally and significantly outperforming the rest of the market.

Bitcoin Finds Stability After Weekly Pullback

Bitcoin experienced renewed selling pressure earlier in the week, briefly slipping below $73,000 as weakness spread across the crypto sector. Since then, the leading cryptocurrency has recovered some lost ground and is currently trading around $73,400.

Despite the recovery, price action remained volatile throughout the past 24 hours. Bitcoin fluctuated between $72,200 and $74,200 before settling near its current range as the weekend trading session began.

The asset’s market capitalization remains above $1.47 trillion, while its dominance over the altcoin market has remained largely unchanged. This suggests that most alternative cryptocurrencies were unable to capitalize on Bitcoin’s temporary weakness. Market sentiment may have also been impacted by declining spot ETF demand, with several funds recording notable outflows in recent days.

For traders, the $73,000 level remains a crucial support zone. A sustained move below that threshold could open the door to a deeper correction toward $70,000. On the upside, a break above $74,000 may help relieve some of the short term bearish pressure.

Stellar Extends Rally and Outpaces the Market

The altcoin market is showing mixed performance, with most large capitalization assets posting only modest gains or remaining relatively unchanged.

Ethereum (ETH) continues to trade near the $2,000 mark, while Solana (SOL) and XRP have seen little movement over the past day. Among the largest cryptocurrencies, BNB delivered one of the strongest performances, climbing more than 5%.

XRP managed to post slight gains, whereas Ethereum and Solana remained largely flat compared to their levels from the previous day.

Stellar, however, has dramatically outperformed its peers. The cryptocurrency surged approximately 25% over the last 24 hours, pushing its price close to $0.20 and making it one of the best performing mid cap digital assets in the market.

The rally follows the announcement that DTCC’s tokenization platform will integrate with the Stellar public blockchain. The initiative is expected to support tokenized assets held under DTC custody, including stocks, exchange traded funds, treasury securities, and corporate bonds. The service is currently targeted for launch during the first half of 2027.

Other Notable Gainers

Beyond Stellar, several other altcoins recorded strong gains during the day. LAB led the group with a 37.5% increase, while Algorand (ALGO) advanced 9.5%. XDC Network (XDC) also posted a solid performance, rising around 9% over the same period.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

A trading strategy operating on Hyperliquid delivered an eye catching 638% annualized yield over the past month, highlighting the potential rewards and risks available through the platform’s vault system.

While Hyperliquid is widely recognized for its on chain perpetual futures exchange, it also offers vaults that allow users to allocate capital to specific trading strategies managed by experienced traders. One such vault, which currently holds more than $3 million in total value locked, has emerged as one of the platform’s top performers.

Understanding Hyperliquid Vaults

Hyperliquid vaults are among the most closely followed features on the decentralized derivatives platform. They function as shared investment pools where a designated manager executes a trading strategy on behalf of participants.

Users can deposit funds into a vault and gain exposure to the manager’s trades. Profits are distributed among depositors when the strategy performs well, while losses are shared if trades move against the portfolio.

Unlike traditional yield products that rely on lending or automated portfolio rebalancing, Hyperliquid vaults are integrated directly into HyperCore. This allows strategy managers to access the same tools available to active traders, including leverage, perpetual contracts, liquidation mechanisms, and high speed trade execution.

As a result, vaults can offer significant return potential, but they also carry substantial risk. Performance can fluctuate dramatically, particularly when strategies employ leverage or take concentrated market positions.

Many observers compare the system to on chain copy trading with pooled capital. Trading activity is fully transparent, performance metrics are publicly available, and users can decide whether a strategy aligns with their own risk tolerance.

Long HYPE and Bitcoin While Shorting Weak Altcoins

One vault that has attracted considerable attention is called “Long HYPE & BTC, Short Garbage.” Over the last month, the strategy produced a remarkable 638% APY and currently manages approximately $3.03 million in assets.

The portfolio allocates roughly 70% of its long exposure to HYPE and 30% to Bitcoin. On the short side, it targets a basket of at least ten high fully diluted valuation and high emission tokens. These short positions account for about 60% of the strategy’s total notional exposure.

According to the vault’s position data, the only trade currently underperforming is the BC long position, although funding payments have helped offset those losses.

The vault’s profit and loss chart shows a sharp upward trajectory over the previous 30 days, with gains approaching the $1.2 million mark.

Despite the impressive returns, the strategy should not be viewed as a low risk source of yield. Instead, it represents an aggressive leveraged long short approach whose success is heavily dependent on the continued strength of HYPE and the effectiveness of its short positions.#crypto#cryptonewshttps://coinsignals.net https://t.me/coinsignalpublic

Ethereum’s largest holders are becoming increasingly active once again.

Ethereum (ETH) briefly fell below the $2,000 mark this week for the first time since March 29. Although the asset has since recovered and is currently trading around $2,002, it remains nearly 60% below its August peak of almost $5,000.

Despite the sharp decline, on chain data indicates that Ethereum’s biggest whales have resumed accumulating the asset.

Ethereum Whales Increase Their Share of Supply

Wallets holding at least 100,000 ETH now collectively own 17.41 million Ethereum, the highest level recorded in nine weeks. These holdings represent 22.03% of Ethereum’s total supply and mark a ten week high.

The latest data follows a report from Santiment, which noted that Ethereum’s drop below $2,000 sparked a wave of “buy the dip” sentiment among retail investors. According to the analytics firm, crypto markets generally respond to steep declines in one of two ways. Traders either become fearful and begin exiting their positions, or they grow optimistic and view lower prices as an opportunity to accumulate.

In Ethereum’s case, optimism appears to be the dominant sentiment. Many retail traders seem to believe the recent decline presents a discounted entry point rather than a signal of further downside.

However, Santiment cautioned that excessive optimism among retail participants has historically been a bearish indicator. The firm explained that retail traders often misjudge market direction during periods of heightened volatility. It added that a stronger buying opportunity could emerge once the current fear of missing out subsides and sentiment shifts toward panic, a condition more commonly associated with market bottoms.

Potential Downside Targets Remain in Focus

Bearish technical signals have not completely disappeared from the market. Crypto analyst Ali Martinez stated that Ethereum could face increased selling pressure if it closes the week below the $1,850 level.

Based on the broader channel structure, Martinez identified two possible downside targets. The first is around $1,560, which he described as an important interim support level. The second target is near $1,070, representing the lower boundary of Ethereum’s multi year trading range.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Crypto venture capital investment slowed significantly during the first quarter of 2026 after the explosive pace recorded at the end of 2025, according to a new report released by Galaxy Digital.

The report revealed that venture firms invested approximately $4 billion across 355 cryptocurrency and blockchain related deals during Q1 2026. This represented a 50% decline in total capital invested compared to the previous quarter, alongside a 16% drop in overall deal count.

Venture Capital Activity Cools After Q4 Surge

Despite the sharp slowdown, crypto venture activity remained considerably stronger than many of the quarterly levels recorded during the broader market downturn between 2023 and 2024.

Galaxy Research explained that the decline was largely caused by the absence of massive late stage funding rounds that dominated Q4 2025. In contrast, seed stage and early stage investment activity remained relatively stable throughout the quarter.

If the current pace continues for the rest of the year, annual crypto venture investment would total roughly $16 billion during 2026. While that figure would fall short of the nearly $20 billion invested in 2025, it would still exceed much of the funding activity seen during the previous two years.

Galaxy also noted that the historical correlation between Bitcoin price performance and crypto venture investment has weakened compared to previous market cycles such as 2017 and 2021.

Although Bitcoin reached fresh highs in late 2025, venture capital activity remained inconsistent. Both Bitcoin prices and venture investment declined during Q1 2026, though the reduction in invested capital was much steeper than the decline in deal volume.

Later stage startups attracted the majority of funding during the quarter, accounting for approximately 57% of all invested capital. Early stage firms captured the remaining 43%.

However, early stage activity still represented a large share of total transactions. Pre seed deals declined to 19% of overall deal count, while later stage transactions increased to roughly one quarter of completed deals.

Galaxy stated that this trend reflects the growing maturity of the cryptocurrency sector and the increasing presence of larger companies with established revenue streams.

Median crypto deal sizes also climbed to new record highs above $4.5 million during Q1 2026, although company valuations pulled back slightly from the historic peaks reached during the previous quarter.

Trading and Exchange Firms Dominate Investment Activity

Among the various sectors tracked by Galaxy Research, the Trading, Exchange, Investing, and Lending category secured the largest share of venture funding by a significant margin.

Companies operating in that segment raised approximately $2.6 billion, accounting for nearly 60% of all capital invested during the quarter. The category also led in total deal count with 74 completed transactions.

Wallet focused startups ranked second in funding raised, attracting roughly $270 million during the period.

Galaxy additionally found that startups established in 2018 received the highest amount of funding overall, securing approximately $1.3 billion in Q1 2026. Meanwhile, newer startups founded in 2024 and 2025 accounted for the largest share of total deal activity.

United States Continues to Lead Crypto Investment

The United States remained the dominant force in global crypto venture funding during the quarter.

According to the report, US based companies captured more than 70% of all invested capital and accounted for 43.5% of completed deals worldwide.

Bahrain and Singapore followed the United States in terms of capital raised, while the United Kingdom ranked second globally by total deal count.

On the fundraising side, investors committed approximately $1.1 billion to eight newly launched crypto focused venture funds. Galaxy noted that this marked the lowest number of new crypto funds launched in a single quarter since Q3 2020.

The firm said fundraising conditions remain challenging due to broader macroeconomic pressures, lingering effects from the crypto market collapse between 2022 and 2023, rising institutional interest in artificial intelligence, and growing competition from spot crypto ETFs and digital asset treasury companies for investor capital.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

While global stock markets continue setting fresh records, Bitcoin is struggling to keep pace, remaining roughly 42% below its all time high. The growing gap between equities and crypto has left many investors questioning why the two traditionally risk driven asset classes are moving in opposite directions.

Analysts say the answer lies in the fact that stocks and Bitcoin are currently being fueled by very different market dynamics.

Stocks and Bitcoin Are Being Driven by Different Forces

Market researchers at XWIN Japan explained that equities and Bitcoin are effectively operating on “different engines.”

According to the firm, the ongoing rally in stock markets is being powered by tangible corporate growth factors such as booming artificial intelligence related earnings, aggressive capital spending from companies like Nvidia, corporate share buybacks, and steady inflows into equity exchange traded funds.

These drivers provide investors with visible and measurable profit growth, reinforcing confidence in traditional equities.

Bitcoin, on the other hand, does not generate earnings or cash flow. Its valuation relies heavily on fresh capital entering the market, making it far more sensitive to liquidity conditions and investor sentiment shifts.

At the moment, analysts say that new liquidity simply is not flowing into Bitcoin markets.

Spot Bitcoin ETFs have experienced heavy outflows throughout the second half of May. Data from SoSoValue shows that since May 15, more than $3.5 billion has exited these products.

The largest daily outflows were recorded on May 18, when investors withdrew approximately $648.64 million, and on May 27, when outflows surged to roughly $733.43 million.

Notably, Bitcoin ETFs have failed to record a single positive inflow day since May 14, when the products attracted $131.31 million.

XWIN analysts also noted that previous Bitcoin bull cycles were typically supported by rising user participation and growing onchain activity. In contrast, current market conditions suggest Bitcoin prices remain elevated even as broader market participation weakens.

According to the researchers, that distinction is becoming increasingly important.

They argued that stocks rise because companies continue generating profits, while Bitcoin tends to appreciate only when fresh liquidity and new market participants return.

As a result, investors are increasingly shifting capital toward equities viewed as “profit growth assets” while reducing exposure to liquidity dependent assets such as Bitcoin.

The trend is already visible across global stock markets.

Analyst Ash Crypto noted that Japan’s Nikkei index surpassed 66,500 for the first time in history on May 29, with Japanese equities reportedly adding around $3.2 trillion in market value this year alone.

South Korea’s KOSPI index also reached a new all time high, adding approximately 150 trillion won in market capitalization.

What Bitcoin Needs to Recover

While global equity markets continued rallying, Bitcoin dropped sharply to around $72,600 on Thursday according to CoinGecko data.

Market observers attributed the decline partly to renewed geopolitical tensions between the United States and Iran, alongside reports that a large investor unloaded roughly $1.3 billion worth of shares in BlackRock’s spot Bitcoin ETF, IBIT.

Bitcoin has since recovered slightly above $73,000, though the rebound remains modest considering the asset traded near $78,000 just days earlier.

The cryptocurrency is now down more than 4% over the past month and nearly 32% compared to the same period last year.

To regain momentum, XWIN analysts believe Bitcoin will require stronger ETF inflows, increased onchain activity, and improvement in the Coinbase Premium indicator.

They also suggested that a weaker United States dollar could provide conditions for a more sustained recovery across the crypto market.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

The cryptocurrency market moved sharply lower this week, losing more than $100 billion in total market capitalization as investors reacted to mounting macroeconomic uncertainty and continued ETF outflows.

Bitcoin led the broader market decline, beginning the week trading around the $77,000 to $78,000 range before steadily weakening toward approximately $73,000 by Friday.

The downturn appeared to be driven by a mix of macroeconomic pressures, declining institutional demand, weaker market liquidity, and renewed capital outflows from spot Bitcoin exchange traded funds rather than any single crypto specific catalyst.

One of the major themes throughout the week was the noticeable drop in institutional appetite for Bitcoin exposure.

US spot Bitcoin ETFs experienced significant redemptions, with more than $1 billion reportedly leaving the products within a single trading session. At the same time, whale activity increased substantially, with large holder outflows reaching their highest levels since February. This raised concerns that major investors may be preparing to reduce exposure amid ongoing market weakness.

Broader macroeconomic developments also weighed heavily on sentiment.

Rising geopolitical tensions between the United States and Iran reduced expectations for near term interest rate cuts, putting additional pressure on speculative assets such as cryptocurrencies.

Meanwhile, analysts noted that central banks have been increasing gold purchases at a record pace, signaling a broader shift toward defensive positioning across global markets.

Altcoins largely mirrored Bitcoin’s weakness, with Ethereum hovering near the $2,000 level as overall investor risk appetite remained subdued.

The week ultimately reinforced how closely crypto markets remain tied to ETF flows and broader macroeconomic conditions. Bitcoin’s inability to maintain support in the mid $70,000 range has left market sentiment looking increasingly cautious heading into next week.

Market Overview

Market Capitalization: $2.54 Trillion

24 Hour Trading Volume: $83 Billion

Bitcoin Dominance: 57.7%

Bitcoin: $73,158, down 5.4%

Ethereum: $1,995, down 5.9%

XRP: $1.33, down 3.4%

Major Crypto Stories From the Week

SpaceX Pre IPO Market Suffers 45% Flash Crash on Hyperliquid

The SpaceX pre IPO market on Hyperliquid, operated by Ventuals, experienced a sudden flash crash that sent prices plunging by 45% within minutes before recovering. The event triggered widespread liquidations across leveraged positions. Ventuals later confirmed that affected users would be compensated.

Google Engineer Accused of Profiting From Confidential Search Data on Polymarket

US prosecutors charged a Google software engineer with allegedly using confidential internal search data to generate approximately $1.2 million in profits through prediction market bets on Polymarket.

Hyperliquid Expands Into Macro Prediction Markets as HYPE Surges Above $64

Hyperliquid broadened its prediction market offerings beyond Bitcoin price bets, allowing users to speculate on macroeconomic events such as monthly CPI inflation reports. The platform’s native HYPE token surged above $64 following the announcement.

Coinbase CEO Says Financial System Still Requires Major Upgrades

Coinbase Chief Executive Officer Brian Armstrong stated that the global financial system still needs substantial technological improvements and regulatory reforms before meaningful transformation can occur.

Galaxy Digital and BitGo Continue Legal Battle Over Failed $1.2 Billion Deal

Galaxy Digital and BitGo remain locked in a legal dispute over the collapse of a planned $1.2 billion acquisition agreement that was once expected to become one of the crypto industry’s largest mergers.

Sui Network Experiences Another Major Outage

Sui Network suffered another prolonged outage after its blockchain went offline for nearly six hours on Thursday. The disruption marked the latest in a series of stability issues affecting the network over recent months.#crypto#cryptonewshttps://coinsignals.net https://t.me/coinsignalpublic

Crypto markets could experience additional volatility as a massive batch of Bitcoin and Ethereum options contracts is set to expire at the end of the week and month.

On Friday, May 29, approximately 85,500 Bitcoin options contracts worth around $6.3 billion in notional value are scheduled to expire. The expiry event is significantly larger than usual, raising concerns that it could influence short term spot market movements.

The broader crypto market has already been under heavy pressure throughout the week, with nearly $120 billion wiped from total market capitalization as Bitcoin weakened and Ethereum suffered even steeper losses.

Investor sentiment has deteriorated further following escalating United States military activity in the Middle East, which has intensified risk aversion and accelerated market selling.

Bitcoin Options Expiry Could Increase Volatility

According to Coinglass data, this week’s Bitcoin options expiry carries a put to call ratio of 0.85, suggesting that bullish and bearish positioning remains relatively balanced.

The maximum pain level is estimated near $75,000, slightly above Bitcoin’s current spot price, meaning a portion of contracts could expire out of the money.

Open interest remains heavily concentrated around the $80,000 strike price on Deribit, where roughly $1.7 billion worth of positions are still active. Meanwhile, bearish traders continue holding around $1.2 billion in open interest at the $60,000 strike level.

Overall Bitcoin options open interest across exchanges has declined in recent weeks and currently stands near $37.5 billion.

Derivatives analytics platform Greeks Live noted on Thursday that despite Bitcoin falling toward what it described as a “very dangerous level,” implied volatility has not increased dramatically.

The firm added that the latest expiry could substantially reshape current options positioning across the market.

According to the report, traders still appear to be betting on support levels holding, while concerns among large investors about a major breakout risk have not increased significantly.

Ethereum Contracts Also Near Expiry

In addition to the Bitcoin expiry, roughly 650,000 Ethereum options contracts are also set to expire.

These ETH contracts carry an estimated notional value of $1.3 billion, with a maximum pain level around $2,200 and a put to call ratio of 0.77.

Total Ethereum options open interest across exchanges currently sits near $6.9 billion.

Combined, the Bitcoin and Ethereum expiries bring the total crypto options expiry value to approximately $7.6 billion, making it one of the largest expiry events in recent weeks.

Spot Markets Remain Under Pressure

The crypto market has struggled throughout the week, with total market capitalization falling to roughly $2.55 trillion during Friday trading hours in Asia, marking the lowest level since April 13.

Bitcoin managed to recover above $73,000 after briefly falling below that level twice on Thursday. However, market structure remains fragile and analysts continue to warn that further downside remains possible.

Ethereum also reclaimed the $2,000 level at the time of writing, though the asset continues to show significant weakness and remains deep in bearish territory.

Market sentiment may face additional pressure from United States inflation data after the latest Personal Consumption Expenditures report showed inflation rising at its fastest pace in three years during April.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic