JOON HYOUNG LEE

US Senate Banking Panel Set to Mark Up CLARITY Act, Vote Due Thursday

The U.S. Senate Banking Committee is set to mark up the crypto market structure bill known as the CLARITY Act. CoinDesk reported on May 14 that the committee plans to hold a markup of the bill later in the day. A markup is the stage in which a congre

Coinbase to Manage Hyperliquid’s USDC Liquidity as It Expands On-Chain Infrastructure

Coinbase Global Inc. will manage Circle’s USDC liquidity for Hyperliquid, a global decentralized exchange. CoinDesk reported on May 14 that Coinbase had been selected as Hyperliquid’s official Circle treasury manager. Under the arrangement, Coinbase

Bullish Shares Drop 8% After First-Quarter Results Miss Estimates on Weaker Trading

Bullish, the US cryptocurrency exchange, reported first-quarter results that missed market expectations as trading slowed amid a broader downturn in digital-asset markets this year. CoinDesk reported on May 14 that Bullish posted adjusted revenue of

US April Retail Sales Rise 0.5%, Matching Estimates

US retail sales rose 0.5% in April from the prior month, in line with market expectations. The Commerce Department said on May 14 that April retail sales increased 0.5% from a month earlier, matching economists' forecasts. Retail sales rose 4.87% fro

US Initial Jobless Claims Rise to 211,000, Above Forecast

US initial jobless claims rose more than expected last week. The Labor Department said on May 14 that initial jobless claims totaled 211,000 last week. That was 6,000 above economists’ forecast of 205,000 and 12,000 higher than the previous week’s re

BlackRock Moves $285 Million of Bitcoin to Coinbase in Potential Sell Signal

BlackRock, the world's largest asset manager, transferred Bitcoin worth about $285 million to Coinbase, the US cryptocurrency exchange. Onchain Lens said May 14 that BlackRock moved 3,581 Bitcoin to Coinbase. The tokens are currently valued at about

Bitcoin Unrealized Profit Hits 17.7%, Highest Since June 2025, Raising Selling Pressure Risk

Bitcoin investors’ unrealized profit has climbed to its highest level in about a year, increasing the risk of heavier selling pressure, according to on-chain analytics firm CryptoQuant. In a weekly report published May 13, CryptoQuant said investors’

JPMorgan Boosts Q1 Bitcoin ETF Holdings, Lifts IBIT Stake 174%

JPMorgan significantly increased its investment in U.S. spot Bitcoin exchange-traded funds in the first quarter. Cointelegraph reported on May 14 that a 13F filing submitted by JPMorgan on May 13 showed the bank held about 8.3 million shares of Black

Moody’s Assigns Top Ratings to BlackRock, Fidelity Tokenized Money Market Funds

Moody’s Ratings assigned its highest credit grade to tokenized money market funds issued by BlackRock and Fidelity. CoinDesk reported on May 14 that Moody’s gave the funds an AAA-mf rating. The grade denotes very strong liquidity, a very high ability

South Korea’s NPS Buys $37 Million More of Strategy Stock, Raising Stake to 821,985 Shares

South Korea’s National Pension Service bought an additional $37 million of Strategy stock in the first quarter. Bitcoin Treasuries reported on May 13 that the NPS disclosed in a filing submitted to the US Securities and Exchange Commission on May 12

Binance to Airdrop $13 Million of WLFI Tokens to USD1 Holders

Binance will hold an airdrop event for USD1 holders. BlockBeats reported on May 14 that the global cryptocurrency exchange will run the event for about a month, from May 15 to June 12. The total reward pool is $13 million worth of World Liberty Finan

US Approves Nvidia H200 Sales to About 10 Chinese Companies, Including Tencent and Alibaba

The US government has approved Nvidia Corp. to sell its high-performance H200 artificial intelligence chips to about 10 Chinese companies, Reuters reported. Citing multiple sources, Reuters reported on May 14 that Washington had approved sales of the

CFTC Grants Reporting Relief for Prediction Markets in No-Action Letter

The US Commodity Futures Trading Commission has effectively exempted prediction-market platforms from certain swap data reporting requirements. The Block reported on May 13 that the CFTC’s Division of Market Oversight and Division of Clearing and Ris

Trump Weighs 250 Pardons for US 250th Anniversary, WSJ Reports

President Donald Trump is considering a large-scale clemency action to mark the 250th anniversary of the US, the Wall Street Journal reported. Citing multiple sources, the Journal reported on May 13 that Trump is weighing 250 pardons this summer to c

New York Court Delays Ruling on Aave Bid to Unfreeze $71 Million in Ether, Sets June 5 Hearing

A New York court has postponed a decision on Aave's request to unfreeze Ether valued at about $71 million. Cointelegraph reported on May 13 that Judge Margaret M. Garnett of the U.S. District Court for the Southern District of New York ordered additi

Ledger Puts US IPO on Hold Amid Deteriorating Market Conditions

French cryptocurrency wallet maker Ledger has paused preparations for a US stock market listing. CoinDesk, citing multiple sources, reported on May 13 that Ledger recently decided to put its US initial public offering plans on hold. The company has n

Upexi Posts $109.3 Million First-Quarter Net Loss as Solana Decline Hits Holdings

Upexi, a US company listed on Nasdaq and pursuing a Solana-based digital asset treasury, or DAT, strategy, posted a steep first-quarter loss. The Block reported on May 12 that Upexi posted first-quarter revenue of $4.6 million, up slightly from $3.2

IMF Chief Warns Oil at $120-$130 Through Next Year Could Trigger Global Recession

The International Monetary Fund warned that a surge in oil prices stemming from the war in Iran could raise the risk of a global recession. Walter Bloomberg reported on May 13 that IMF Managing Director Kristalina Georgieva said the global economy co

Bitcoin Falls Below $80,000; Kimchi Premium Turns Negative at -0.47%

Bitcoin fell below $80,000. CoinMarketCap data showed Bitcoin trading at $79,676.91 as of 10:55 p.m. on May 13 in Korea, down 1.18% from a day earlier. The token was 2.47% lower than a week ago. The kimchi premium also turned negative. Cryprice data

Coinbase CEO Says CLARITY Act Is Closer Than Ever

Coinbase Chief Executive Officer Brian Armstrong said the CLARITY Act, a US crypto market structure bill, is closer than ever. Armstrong made the comment in a post on X on May 13. He wrote that the CLARITY Act would make the US financial system faste

Coinbase-Backed x402 Adds Batch Settlement for AI Agent Payments

Coinbase-backed payment protocol x402 has introduced a batch-settlement feature for payments made by artificial intelligence agents. Base developer Jesse Pollak announced the update on May 13, Cointelegraph reported. Base is Coinbase’s layer-2 blockc

US April Producer Prices Jump 1.4% on Month as Iran-Driven Oil Shock Lifts Costs

Rising global oil prices tied to the war involving Iran pushed U.S. producer prices in April well above market expectations. The Producer Price Index rose 1.4% in April from the previous month, the Labor Department’s Bureau of Labor Statistics said o

KRW Stablecoin KRWQ Launches on Solana to Expand Liquidity

KRWQ, a won-pegged stablecoin, is launching on Solana. The Block reported on May 13 that IQ said it is deploying KRWQ on the Solana network with Frax. The company said the Korean won has long been a globally traded currency in offshore derivatives ma

Bitwise Says GENIUS Act Unlocked Crypto Funding, Eyes Clarity Act as Next Catalyst

Bitwise said passage of the US stablecoin bill known as the GENIUS Act has accelerated fundraising across the cryptocurrency industry, and that the next catalyst could be the crypto market structure bill known as the Clarity Act. In an investor memo

Superform Jumps 120% on Upbit Listing News

Superform rose sharply on news of its listing on a South Korean cryptocurrency exchange. According to CoinMarketCap, Superform was trading at $0.2709 as of 6:48 p.m. on May 13, up about 122.51% from a day earlier. The token was also up about 129% fro

Metaplanet’s Bitcoin Holdings Top 40,000, Worth $3.27 Billion

Metaplanet, often dubbed Japan’s version of Strategy, said its Bitcoin holdings have surpassed 40,000. The company said on May 12 it held 40,177 Bitcoin as of the first quarter. That amounted to about 87% of the Bitcoin held by Japan-listed companies

US Spot Bitcoin ETFs Post $233.2 Million Outflow, Reversing After One Day

U.S. spot Bitcoin exchange-traded funds swung back to net outflows after one day of inflows. Farside Investors data showed U.S. spot Bitcoin ETFs recorded net outflows of $233.2 million on May 12. The funds had posted net inflows on May 11. Fidelity'

BASIS Launches Crypto Arbitrage Platform After Private Test

BASIS, a cryptocurrency arbitrage platform, has officially launched after completing a private test. Bloomingbit reported on May 13 that BASIS began offering the service to general users that day. The platform was developed with technical support fro

Warren Opposes Revised Clarity Act, Citing Trump Family Conflict Concerns

Sen. Elizabeth Warren is opposing a revised version of the Clarity Act, a bill to set rules for the cryptocurrency market’s structure. In a post on X on May 12, Warren wrote that the U.S. Senate Banking Committee had released a new version of the Cla

XRP Volume Overtakes Bitcoin on South Korean Exchanges as Traders Eye $1.50 Resistance

XRP trading volume has surpassed Bitcoin on South Korea’s major cryptocurrency exchanges. CoinDesk, citing CoinGecko data, reported on May 13 that XRP posted about $110.9 million in 24-hour trading volume on Upbit’s Korean won market. That exceeded B