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2026-05-03
7m ago
Bittensor's institutional narrative is getting harder to dismiss as Nvidia, Polychain, and ETF filings add weight
OpenTensor's Q1 2026 update delivered fresh institutional signals for Bittensor. Nvidia took a $420M position in TAO, with 77% of the stake locked. Polychain Capital increased exposure by $200M. The network posted $43M in revenue from real AI usage last quarter, supported by productive subnets such as Chutes. Grayscale and Bitwise have active spot TAO ETF filings on record, with decisions expected later in 2026. To accommodate incoming builders, subnet capacity is set to double from 128 to 256.
TAO
TAO+4.19%
19m ago
Fed Officials Reassess Rate Outlook After Energy Shock
Nick Timiraos, the Fed watcher known for close sourcing, reports that internal debate over the policy path has hit an inflection point. The discussion has shifted from when rate cuts will start to what conditions could force the Federal Reserve to hike again. The statement following the latest meeting reflected a notable change in tone. Dallas Fed President Lorie Logan, Cleveland Fed President Beth Hammack, and Minneapolis Fed President Neel Kashkari objected to keeping language indicating that "the next step will most likely be an interest rate cut," a rare public split for the institution. Fed Chair Jerome Powell, nearing the end of his term, said post-meeting that the committee held "intense discussions." He noted the guidance was not fully removed for procedural reasons, but he made clear the Fed has moved from a dovish posture toward a more neutral stance, calling the dissenters' arguments "completely valid." The overall message points to a retreat from cut signaling in favor of a wait-and-see approach. The catalyst is an energy-market shock. Supply disruptions tied to the de facto closure of the Strait of Hormuz have raised concerns that elevated energy prices could persist. Analysts say the risk is not merely a temporary spike but a structural threat that could lift broader inflation expectations. Kashkari highlighted the scenario in a recent speech, arguing that if the strait does not reopen soon, rate hikes could return to the agenda. He acknowledged the risk of weakening the labor market, but said inflation control would remain the priority. Former Fed economist William English criticized the current stance, warning that holding rates steady as inflation rises amounts to "passive easing" and is unlikely to be sustainable. The last comparable challenge to the statement language came in September 2020. The debate is expected to intensify under Kevin Warsh, who is widely anticipated to take over as Fed chair in mid-May. The first Fed meeting after Powell's term ends is likely to be a key test of the next direction for monetary policy. This is not investment advice.
BTC
BTC+0.14%
29m ago
NY Attorney General Secures More Than $5 Million from Uphold Over Misleading Crypto "Savings" Product
New York Attorney General Letitia James said more than $5 million in restitution has been recovered from crypto platform Uphold, citing allegations that the company misled consumers while promoting fraudulent investment schemes. The attorney general's office said that from January 2019 to October 2020, Uphold marketed CredEarn through its platform and mobile app as a safe, dependable savings product with attractive annual yields. Regulators allege the company did not adequately disclose the risks and touted protections that did not exist at the time, noting the industry offered no insurance that would shield retail investors from digital-asset losses. The settlement also addresses compliance issues, including allegations that Uphold failed to register as a broker-dealer or a commodity futures merchant. According to the announcement, Cred began suffering significant losses in March 2020 due to high-risk lending and filed for bankruptcy in November 2020, leaving thousands of Uphold users worldwide with financial losses. Under the agreement, Uphold will pay $5 million directly to affected users, an amount the state said is more than five times the fees the platform collected. Any proceeds Uphold later recovers from Cred's bankruptcy proceedings will also be passed on to impacted users. (Source: PANews; via ME News)
44m ago
Morgan Stanley Bitcoin Trust Buys 286.693 BTC, Holdings Rise to 2,620 BTC
Arkham data monitored by ChainCatcher shows Morgan Stanley's spot Bitcoin ETF, the Morgan Stanley Bitcoin Trust (MSBT), added 286.693 BTC through Coinbase yesterday, worth about $22.48 million. MSBT now holds 2,620 BTC in total, valued at roughly $204 million.
BTC
BTC+0.14%
54m ago
New York AG: Uphold to Pay Over $5M After Misleading Promotions of Crypto Product CredEarn
New York Attorney General Letitia James said crypto platform Uphold has been ordered to pay more than $5 million in restitution to users affected by its promotion of CredEarn, a crypto investment product later tied to alleged fraud. According to the investigation, from January 2019 to October 2020 Uphold marketed CredEarn—launched by Cred LLC—as a "safe and reliable" high-yield savings product and told users it came with "comprehensive insurance coverage." Regulators said the company did not disclose that the advertised returns were generated through high-risk microloans to low-income gamers in China, and that the claimed insurance coverage did not exist. The Attorney General's Office also said Uphold lacked required registrations as a broker-dealer or commodity broker-dealer while promoting the product. Cred filed for bankruptcy in 2020, and many users incurred losses. Under the settlement, Uphold will pay $5 million directly to impacted users. Any additional funds Uphold recovers through Cred's bankruptcy proceedings—reported at $545,000—will also be returned in full to the relevant investors. (ny.gov)
1h ago
New York upholds $5 million settlement over crypto platform's promotion of alleged fraud
ChainCatcher report: New York Attorney General Letitia James said the state has recovered more than $5 million from cryptocurrency platform Uphold in a settlement tied to its promotion of a fraudulent investment product. The case centers on CredEarn, a product launched by Cred LLC and its CEO Daniel Schatt. From January 2019 to October 2020, Uphold marketed CredEarn on its platform and mobile app as a safe, dependable savings product promising attractive annual returns. The Attorney General's office said Uphold did not disclose that Cred generated those returns by making small loans to low-income video game players, a borrower group that typically lacks credit histories and is often unable to access traditional financial services.
1h ago
New York AG Secures Over $5 Million From Uphold Over Promotion of Allegedly Fraudulent Crypto Product
May 3 — New York Attorney General Letitia James said the state has recovered more than $5 million from cryptocurrency platform Uphold to resolve allegations tied to its promotion of a fraudulent investment product. The settlement centers on Uphold's marketing of CredEarn, an offering launched by Cred LLC and its CEO, Daniel Schatt. From January 2019 through October 2020, Uphold promoted CredEarn across its platform and mobile app as a safe, dependable savings product with an attractive annualized yield. According to the Attorney General's office, Uphold did not disclose to users that Cred generated those returns by making small loans to low-income electronic gamers—borrowers who typically lack credit histories and have limited access to traditional financial services.
1h ago
ADOPTION: Argentina's securities regulator broadens tokenization regime, adds more eligible assets and drops listing requirement
ADOPTION: Argentina's National Securities Commission expanded its tokenization framework, widening the range of assets that can be tokenized and eliminating the requirement for listings.
1h ago
Spot XRP ETFs Log Strongest Inflows Since December as April Hits Four-Month High
After losing momentum in March, spot exchange-traded funds (ETFs) tied to XRP—the second-largest non-stablecoin altcoin—rebounded in April with their strongest showing since December. The token itself made only modest progress, leaving traders focused on what could come next. Spot XRP ETFs return to net inflows XRP-focused spot ETFs started with a standout run. Following the November 13 launch of Canary Capital's XRPC, the products attracted their first $1 billion in roughly a month. Daily flows stayed consistently positive through January 7, with no day seeing net outflows exceed inflows. That pace slowed as global uncertainty weighed on risk appetite. Net inflows dropped from $500 million in December to $15.6 million in January. February improved to $58 million, but March turned negative for the first time, posting more than $31 million in net outflows. SoSoValue data also showed several sessions with no reportable activity. April again included a handful of quiet days, but the month closed firmly positive. Net inflows totaled $81.59 million, marking the best month since December, though still well below the records set in November and December. Cumulative inflows reached a new all-time high of $1.3 billion on April 29 before edging lower on April 30. XRP price remains under pressure XRP has struggled since spot XRP ETFs launched. The token traded above $2.40 on the debut day and now battles to hold above $1.40. Crypto analyst BATMAN described the current area as a "make-or-break" level, saying XRP is repeatedly testing a key trendline. A decisive breakdown could extend the bearish trend and open the door to lower lows. Holding the bullish trendline, in their view, could support a bounce. Another analyst, CW, called XRP's price action "boring," while arguing that upside potential in the futures market continues to build. They suggested that once the market breaks out of the current range, that accumulated potential could unwind into a sharp move.
XRP
XRP+0.29%
1h ago
Arbitrum Moves to Unfreeze $71M in ETH via DAO Vote to Shore Up DeFi After Kelp DAO Exploit
Arbitrum governance has advanced a proposal to release 30,765 ETH—roughly $71 million—to help stabilize liquidity and support DeFi protocols affected by disruptions tied to Kelp DAO. The ETH was frozen on April 21 by Arbitrum's Security Council and is now set to proceed to a DAO vote, with the release framed as part of a post-incident recovery effort following the April 18 exploit. The governance plan, outlined in accompanying documents, targets 30,765 ETH held at a designated address. It was coauthored by Aave Labs, Kelp DAO, LayerZero, EtherFi, and Compound, and stipulates that funds will move only after governance approval. Early voting signals show unanimous support from participating tokens, representing more than 34 million ARB. If approved, the ETH would be transferred to a recovery wallet protected by a 3-of-4 Gnosis Safe. The proposed signers are Aave Labs, Kelp DAO, Certora, and EtherFi. The process also includes a Snapshot temperature check ahead of final onchain submission through Tally, adding an additional layer of oversight before execution. The proposal addresses only a portion of the broader liquidity mismatch created by the April 18 incident. According to the documents, the exploit resulted in 116,500 restaked ETH being released without a corresponding burn, creating a gap between issued rsETH and the collateral backing it. Current figures show about 152,577 rsETH issued against roughly 40,373 held, implying a shortfall of around 76,127 rsETH—valued near $174.5 million. The 30,765 ETH release would cover part of that deficit, with the recovery effort aimed at easing near-term liquidity pressure rather than fully closing the gap. Additional support has been pledged across the ecosystem. Mantle, EtherFi Foundation, Golem Foundation, Lido DAO, Ethena, LayerZero, Ink Foundation, and Tyrdo have committed about 43,000 ETH in total, as protocols seek to limit spillover risks across interconnected DeFi systems. Arbitrum's approach also underscores the growing role of DAO-led crisis response, with the timing of fund movement now dependent on the outcome of the governance vote.
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ETH
ETH+0.16%
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