Bitcoin retail activity on Binance has dropped to historic lows, with monthly inflows averaging about 314 BTC in 2026 versus roughly 1,200 BTC around March 2024. Futures-side selling surged above $2 billion in two spikes on May 15, coinciding with BTC slipping below $77,000 as spot demand stayed weak. Over the same period, CryptoQuant metrics showed 30-day net demand growth and total demand growth both down 73%.

The U.S. SEC is expected to roll out an "innovation exemption" aimed at tokenized stocks, potentially as soon as May 18, 2026. The framework could let crypto-native venues offer tokenized U.S. equities under lighter, time-limited requirements, with guardrails such as disclosure and exposure caps. The move would follow the SEC's approvals for Nasdaq's tokenized-equity rules in March 2026 and a similar NYSE approval in April 2026.

Iran’s largest crypto exchange Nobitex processed at least $2.3 billion on Tron and BNB Chain since January 1, 2023. The activity continued after February when Trump’s war began, including at least $22.6 million on BNB Chain and at least $550,000 on Tron. World Liberty Financial said it has no relationship with Nobitex and does not own, operate, or control Tron.

Ethereum dropped under $2,150 as market uncertainty and selling pressure weighed on price, with ETH later trading near $2,110. On-chain tracking pointed to a major supply shift after more than 225,000 ETH was deposited to Binance in one day, marking the exchange's biggest net inflow in the past six months. The report outlines profit-taking, defensive positioning, or derivatives collateral as possible drivers, each potentially increasing near-term volatility.

Japan's major brokerages, including SBI and Rakuten, are ramping up plans for Bitcoin and Ethereum-focused investment trusts, signaling a shift away from crypto exposure being dominated by native exchanges. Regulatory changes approved in April 2026 moved major cryptocurrencies under the Financial Instruments and Exchange Act and were paired with a tax change toward a flat 20% rate. A 2026 Nomura survey also found nearly 80% of professional investors plan crypto allocations of 2% to 5%, while ETF rollout timelines could still slow broader retail uptake.

Kevin Warsh is scheduled to be sworn in as chair of the US Federal Reserve Board of Governors on Friday, after the US Senate confirmed him on Wednesday to replace Jerome Powell. Markets tracking rate policy show reduced expectations for cuts: Kalshi priced a 38.2% chance of a Fed rate cut before 2027, while CME FedWatch indicated a 98.8% probability rates stay at 3.50% to 3.75% through the end of June. The next Federal Open Market Committee meeting is set for June 16, when rates could be adjusted.

Galaxy Digital said it obtained a BitLicense and a Money Transmission License from the New York State Department of Financial Services on May 18, enabling regulated digital-asset trading and custody services for institutions statewide. Through Galaxyone Prime NY, the firm will serve New York hedge funds, registered investment advisers, and family offices, and it reported $9 billion in client assets across its digital-asset business.

Bitcoin briefly dipped toward $76,000 on May 18 before trading near $77,000 around 5:36 p.m., a move that pushed the social sentiment ratio into bearish territory. Santiment said negative BTC commentary exceeded bullish posts for the first time since April 21, with a ratio reading of 0.94 bullish comments per bearish comment. The firm argues that elevated retail fear has historically aligned with improved odds of a short-term rebound.