RegulationBitcoin Depot Files Chapter 11: 9,000 ATMs Offline, BTM Stock Down 71%
Bitcoin Depot filed Chapter 11 in Texas, shut down 9,000 ATMs. BTM shares crashed 71%. CEO cited unsustainable regulatory pressure on the crypto ATM model.
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Regulation
InstitutionalGrayscale and VanEck Amend BNB ETF Filings: Is US Spot Approval Getting Close?
Grayscale filed its second S-1 amendment for GBNB, VanEck its fifth for VBNB. Bloomberg Seyffart says BNB could become the next approved spot ETF in the US.
BitcoinStrategy to Repurchase $1.5B in Notes: Saylor Floats Bitcoin Sale Option
Strategy filed to repurchase $1.5B in 2029 convertible notes. Saylor hinted the company may sell Bitcoin from its 818,869 BTC portfolio if needed.
AltcoinsXRP ETF: Record $1.35B Cumulative Net Inflows
Spot XRP ETFs attracted $25.8M on May 12, the largest daily inflow since January 5. Cumulative net inflows hit an ATH of $1.35B. ETP AUM surpassed $2.5B.
MarketsCZ Says US Rivals Lobbied Against His Presidential Pardon
Binance founder CZ Zhao said US crypto exchanges lobbied against his Trump pardon, fearing Binance's return to the American market.
MarketsCoinbase Cuts 14% of Staff in AI Restructuring
Coinbase announced the elimination of 14% of its workforce on May 5, about 700 jobs. CEO Brian Armstrong cited a market downturn and AI adoption.
InstitutionalDTCC to Launch Tokenized Securities in October 2026 With 50+ Firms
DTCC announced a July 2026 pilot and October full launch for tokenized securities. Over 50 firms including BlackRock, Circle and NYSE Group are on board.
RegulationNew York AG Secures $5M From Uphold Over CredEarn Fraud
NY AG Letitia James secured a $5M settlement from Uphold for promoting CredEarn, a crypto savings product with false insurance claims and hidden risks.
RegulationCLARITY Act: US Senators Finalize Stablecoin Yield Rules
Section 404 of the CLARITY Act bans stablecoin yield for mere holding but allows rewards for real platform usage. Senate Banking markup expected May 11.