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.
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Markets
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.
RegulationReuters Investigation: Nobitex Founders Tied to Iran Supreme Leader's Family
Reuters: Iran's largest crypto exchange Nobitex was founded by Kharrazi brothers linked to Supreme Leader Khamenei. US seized $500M in Iranian crypto.
MiningBitcoin Mining Stocks Rise 85% in 2026 Despite BTC Lag
Bitcoin mining stocks posted gains of up to 85% in 2026 as TeraWulf, Riot and Hut 8 pivot to AI data centers, while BTC is roughly 20% below January levels.
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.
MiningRiot Platforms Q1 2026: $167M Revenue, Data Center Pulls $33M
Riot Platforms reported $167M revenue in Q1 2026. Data center brought $33M. AMD doubled contracted capacity to 50 MW. Shares surged 7.3% on earnings release.
StablecoinsTether Q1 2026: $1.04B Profit and Formal Audit Begins
Tether reported $1.04B net profit in Q1 2026, record $8.23B excess reserves, and launched its first formal audit. Here is how the business model works.
BitcoinBitcoin +11.9% in April 2026: Best Month in a Year and $2B in ETF Inflows
Bitcoin gained 11.9% in April 2026, its best monthly performance in a year. US spot ETFs pulled in $1.97B in net inflows, led by BlackRock's IBIT with ~$2B.