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Bitcoin Hits $80,000: Massive Short Squeeze and Institutional Buying Drive $96K Target

Coins Legend May 4, 2026 0

Bitcoin crossed $80,000 on May 4, 2026, snapping weeks of range-bound trading as institutional buying and a mass short liquidation combined to push the leading cryptocurrency past its most-watched resistance level. Key Takeaways: Bitcoin hit $80,039, breaking above key resistance for the first

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China Defies US Sanctions on Oil Refiners With Sweeping Non-Compliance Order

Coins Legend May 4, 2026 0

The blocking statute invoked by MOFCOM requires other companies conducting commercial activities in the country to disregard the sanctions imposed on five domestic refiners linked to Iranian oil transactions, because they constitute an improper extraterritorial application of foreign laws and measures. Key Takeaways: On May 2, China’s MOFCOM invoked the Blocking Statute

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Despite Warsh Replacing Powell at the Fed, Traders See No Rate Cut Coming in June

Coins Legend May 4, 2026 0

Kevin Warsh cleared a Senate Banking Committee vote on April 29 and is expected to chair his first Federal Open Market Committee (FOMC) meeting June 16-17, 2026, as futures and prediction markets put the odds of a rate hold above 93%. Key Takeaways: Kevin Warsh cleared a 13-11 Senate Banking Committee vote on April 29, […]

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Coinbase Says Prediction Markets Are Maturing, CFTC Needs No New Mandate

Coins Legend May 4, 2026 0

Coinbase says prediction markets should stay under CFTC oversight, arguing event-based contracts already fit within federal derivatives law. The company laid out four points in a comment letter and public post. Key Takeaways: Coinbase urged the CFTC to regulate prediction markets under existing derivatives law. Federal oversight could prevent fragmented state enforcement

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XRP Reaches 5M+ Merchants Through Rakuten Wallet Integration

Coins Legend May 4, 2026 0

Rakuten Wallet added XRP access to one of Japan’s largest consumer payment networks, a rollout highlighted by a Ripple manager on April 30. Users can convert Rakuten Points into XRP, trade in-app, and charge Rakuten Cash through Rakuten Wallet for spending via Rakuten Pay across more than 5 million merchant locations. Key Takeaways: Rakuten Wallet […]

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Tokenization Megatrend: Grayscale Names ETH, SOL, LINK in $30B Market

Coins Legend May 4, 2026 0

Grayscale Research said Ethereum, Solana, Canton, Avalanche, BNB Chain, and Chainlink are positioned to benefit as tokenized assets expand. The firm estimated tokenized assets at about $30 billion, up 217% year-over-year. Key Takeaways: Grayscale identified Ethereum, Solana, Canton, Avalanche, BNB Chain, and Chainlink as key beneficiaries of tokenization growth. Tokenized

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Dormant Wallets Spend 793 BTC Over 72 Hours as Bitcoin Crosses $79,000

Coins Legend May 4, 2026 0

Onchain data shows 793.36 sleeping bitcoins changed hands between May 1 and May 3, 2026, with a notable portion traced back to wallets that had not moved coins since 2011. Key Takeaways: Onchain data shows 793 BTC spent May 1-3, 2026, with 56 of 62 outputs originating from 2016 wallets. A single 110 BTC output […]

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New Politico Poll Reveals US Voter Skepticism Over AI and Crypto Campaign Cash

Coins Legend May 4, 2026 0

Deep-pocketed political groups tied to artificial intelligence (AI) and cryptocurrency are rapidly reshaping the midterm money landscape, but many Americans remain uneasy with the industries behind the spending. Key Takeaways: Fairshake and Leading the Future have deployed over $100 million to influence the 2026 midterm election outcomes. A Politico poll found 45% of

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A ‘Generational Play’ Arises Amid Economic Fury – Week In Review

Coins Legend May 4, 2026 0

This editorial is from last week’s edition of the newsletter Week in Review. Subscribe to the newsletter to get this weekly editorial the second it’s finished. The newsletter also includes the biggest stories of the week with a comment on each story. Key Takeaways: Tether froze record USDT as U.S. seized $500M from Iran, putting […]

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Blackrock and Circle Lead Tokenized Treasuries as Market Value Climbs to $15.20B

Coins Legend May 3, 2026 0

At the outset of May, the total market valuation of tokenized U.S. Treasuries sits at $15.20 billion, following $1.06 billion in added value over the past 30 days. Among 71 distinct assets tracked by rwa.xyz, the average annual percentage yield ( APY) registered at 3.36% over the past week. Key Takeaways: rwa.xyz data shows tokenized […]