Bitcoin spent the week locked in a fight around $80,000 as ethereum and most altcoins stayed rangebound. The editorial highlights tradfi-crypto convergence, including Binance listing perpetuals tied to firms like Walmart and Visa, and CME preparing index futures that span BTC, ETH, SOL, XRP, ADA, LINK, and XLM. It also notes U.S. regulatory momentum after the CLARITY markup on Thursday advanced out of Senate Banking by a 15-9 vote, alongside Circle’s ARC raise of $222 million at a $3 billion valuation.

Coinbase expanded its role on Hyperliquid after being granted USDH treasury deployer rights, and HYPE rose 17% in 24 hours to a yearly high of $46.93. Strategy reported record trading volume of $1.53 billion in its STRC preferred stock, highlighting the market’s focus on its bitcoin-funding setup. In Washington on May 14, Kevin Warsh was confirmed as Fed chair and the Senate Banking Committee voted 15-9 to advance the CLARITY Act.

Crypto markets saw several major storylines this week, including reported movement toward a Senate Banking Committee vote on the CLARITY Act and renewed attention on privacy-focused assets. TON climbed 32% to $2.89 after Telegram founder Pavel Durov outlined a strategic shift that included a sixfold fee cut. Separately, Tether froze about $515 million USDT across 371 addresses in 30 days, while Zcash jumped more than 40% on May 6 to a $600 peak and briefly surpassed Monero by market cap.

Japan's Financial Services Agency expanded the country's crypto travel rule coverage on April 25, 2025 by adding 30 jurisdictions, bringing the total scope to 58 markets. The change increases compliance and information-sharing requirements for licensed exchanges and stablecoin-related service providers handling cross-border transfers.

Crypto markets saw renewed volatility and institutional momentum, including a $440M liquidation event as bitcoin dropped below $66,000. Coinbase said it received conditional OCC approval for a national trust charter, while a long-idle wallet last active in May 2014 moved 500 BTC in five transfers. Corporate buying also continued as Metaplanet reported 5,075 BTC purchased in Q1 2026, lifting holdings to 40,177 BTC.

Japan's National Tax Agency is rolling out the OECD's Crypto-Asset Reporting Framework (CARF) to enable automatic cross-border sharing of certain crypto transaction data involving non-residents. The rules apply from Jan. 1, 2026, require user self-certifications, and set the first provider reporting deadline for Apr. 30, 2027.

A weekly roundup highlighted heightened cross-market volatility and fresh signs of traditional finance embracing digital assets, including Goldman Sachs pointing to a potential cyclical bottom for crypto. Separately, Fannie Mae said it will support crypto-backed mortgages in a product built with Better Home and Finance and Coinbase, allowing borrowers to use assets such as bitcoin or USDC held on Coinbase as part of a home purchase.

On January 2, 2026, Coinbase Institutional’s head of investment research David Duong argued that stock perpetual futures, or equity perps, are evolving into a primary access point for retail traders. He said these derivatives are moving from niche leveraged tools to core DeFi building blocks and could become a preferred way for global investors to gain 24/7, leveraged exposure to major equity markets.

On December 30, 2025, Robinhood's CIO Stephanie Guild told CNBC the firm's base case for the S&P 500 is around 7,500 by this time next year, implying roughly 8.5–8.7%. She cited risks including a possible government shutdown, interest rates, and the labor market, and expects broader sector participation beyond large-cap tech.