Muhtasari
Finance 6 Mei
Crypto topics lead user snoozing on X amid public distrust
Crypto has become the most-snoozed topic on X's For You feed since the platform introduced its topic snoozing feature for Premium subscribers, surpassing politics, sports, business, AI, and global conflicts, as revealed by X product head Nikita Bier. This data points to growing user fatigue even as Bitcoin's market rebounds. A CoinDesk survey of 1,000 U.S. registered voters shows 62% lack trust in President Donald Trump's administration to oversee the cryptocurrency sector, with broad opposition to government officials holding personal crypto stakes, reflecting low enthusiasm ahead of the 2026 midterms. A POLITICO Poll indicates unease with cryptocurrency and AI across 2024 Trump and Harris voter bases, with pluralities viewing crypto as too risky and favoring candidates supported by groups advocating stricter regulations, as pro-industry super PACs invest tens of millions in midterm races. At Consensus Miami 2026, panelists from Consensys, Kraken, and major banks identified trust as the primary obstacle to crypto adoption, emphasizing complexity, poor user experience, lack of transparency, and the need for improved usability, regulation, security, and human-centered design in blockchain products including tokenization.
- Crypto tops list of most-muted topics on X
- CoinDesk poll shows U.S. voters distrust Trump administration on crypto oversight
- Poll shows widespread American skepticism of AI and crypto amid heavy industry PAC spending in midterms
- Consensus Miami 2026 highlights trust and tokenization challenges
U.S. Senate bans senators from prediction markets
Prediction market platform Polymarket partnered with blockchain analytics firm Chainalysis to monitor trading and detect potential insider trading using onchain tools, responding to rising regulatory attention, with the announcement made on Thursday. The U.S. Senate passed S. Res. 708, a resolution immediately prohibiting senators and their staff from using prediction markets upon its passage. The U.S. Securities and Exchange Commission extended its review of exchange-traded funds linked to prediction markets from Roundhill, Bitwise, and GraniteShares, which track odds on political races and economic indicators, seeking additional clarity on their structure and disclosures.
- Polymarket partners with Chainalysis to combat insider trading
- Senate votes to ban prediction markets for senators and staff
- SEC delays review of prediction market ETFs
Tether reports $1.04 billion Q1 profit as stablecoin bill advances
Tether, issuer of the largest stablecoin USDT, posted a first-quarter net profit of $1.04 billion for 2026, with excess reserves hitting a record $8.23 billion and total assets approaching $192 billion against liabilities of about $183.5 billion, backed by holdings in U.S. Treasuries, gold, and bitcoin. U.S. Senators Thom Tillis and Angela Alsobooks released compromise text for the CLARITY Act on Friday, resolving stablecoin yields as the last major issue in the crypto market structure bill by banning yields akin to bank deposits while permitting rewards for legitimate activities; crypto leaders endorsed it and called for a Senate Banking Committee markup. Following the stablecoin yield compromise, crypto stocks rallied with heightened expectations for Digital Asset Market Clarity Act markup the week of May 11, as Circle shares jumped 18% despite opposition from banking interests.
- Tether reports $1.04 billion Q1 profit and record reserves
- Senators release CLARITY Act compromise on stablecoin yields
- Clarity Act stablecoin compromise boosts crypto markets ahead of markup
Indian firms adjust deposit rates amid shift to bank loans
Retail investors in India encounter contrasting deposit rate moves from major non-banking financial companies, with Bajaj Finance raising rates by up to 45 basis points to enhance fundraising, while Shriram Finance intends to cut rates by 15-35 basis points following a rating upgrade. Corporate borrowers in India are turning to bank loans over bond issuances as rising capital market yields diminish bonds' cost edge, with spreads between bank lending rates and bond yields narrowing considerably, particularly for higher-rated entities.
- Bajaj Finance raises deposit rates as Shriram plans cuts
- Corporate borrowers favor bank loans over bonds amid rising yields
BitMine buys $240 million Ethereum from Ethereum Foundation
BitMine Immersion Technologies acquired 10,000 ETH from the Ethereum Foundation for $23 million in an over-the-counter deal at $2,292.15 per ETH, continuing from a prior week's similar sale and a March transaction, with funds earmarked for Ethereum operations, R&D, ecosystem grants, and community initiatives. Under Tom Lee's leadership, BitMine completed its third straight weekly Ethereum purchase totaling over 100,000 ETH worth $240 million, aligning with Ethereum's price gains and Bitcoin reaching $80,000 for the first time since January, while Strategy passed on a Bitcoin buy at that milestone.