China Defies US Sanctions on Oil Refiners With Sweeping Non-Compliance Order
Key Takeaways: On May 2, China’s MOFCOM invoked the Blocking Statute against U.S. OFAC sanctions on 5 local oil refiners. SMU’s Henry Gao notes this 1st use of the statute since 2021 forces global companies to pick between markets. Next,…
Bitcoin Price Pushes Above $80,000 for First Time Since January
Bitcoin’s price has moved past the major psychological resistance level of $80,000. The cryptocurrency did this today for the first time since January, sparking hopes of a renewed rally and higher highs. Source: TradingView The move comes on the back…
BG Wealth Collapses in Apparent ‘Rug Pull’ as US Authorities Seize Website
The investment scheme BG Wealth Sharing Ltd., previously flagged by the Philippine Securities and Exchange Commission (SEC) as a Ponzi scheme, has seemingly collapsed. Following months of soliciting investments from overseas Filipino workers (OFWs) and global retail investors, the platform…
Bitcoin critic Warren Buffett warns crypto traders on risky bets
Warren Buffett used the 2026 Berkshire Hathaway shareholder meeting to warn investors about rising speculation across markets. Summary Buffett said investors are showing a stronger gambling mood across volatile markets and short-term trades. He criticized one-day options, calling them gambling…
Coinbase Says Prediction Markets Are Maturing, CFTC Needs No New Mandate
Key Takeaways: Coinbase urged the CFTC to regulate prediction markets under existing derivatives law. Federal oversight could prevent fragmented state enforcement across interstate prediction markets. Courts, regulators, and states are still divided over jurisdiction and enforcement. Coinbase Pushes CFTC Oversight…
Trump’s rejection of Iran proposal impacts US-Iran diplomatic meeting outlook
## Market Snapshot The “Russia x Ukraine ceasefire by June 30, 2026” market is priced at 9.5% for a YES outcome, down slightly from 10% in the last 24 hours. Meanwhile, the “next US x Iran diplomatic meeting” market lacks…
Tether Records $1B Net Profit in Q1 Attestation Report
While generating a net profit above $1.04 billion, Tether’s excess reserve buffer hit a record $8.23 billion, concentrated in short-duration liquid instruments. The leading stablecoin issuer has released its attestation report for the first quarter of 2026, revealing a…
Coinbase says crypto bill deal clears Senate path
Coinbase says Senate negotiators have reached a deal on a disputed crypto bill provision tied to stablecoin rewards. Summary Coinbase says negotiators reached a rewards compromise, easing a key delay for the CLARITY Act. Banks secured limits on deposit-like yield,…
Grayscale Names ETH, SOL, LINK in $30B Market
Key Takeaways: Grayscale identified Ethereum, Solana, Canton, Avalanche, BNB Chain, and Chainlink as key beneficiaries of tokenization growth. Tokenized assets reached about $30 billion, expanding 217% year-over-year, led by Treasuries and commodities. Future adoption may boost blockchain fees, liquidity, and…
Spirit Airlines ceases operations amid Strait of Hormuz fuel crisis
## Market Snapshot Spirit Airlines Shutdown market is currently priced at 100% YES, with an expectation that Spirit will cease operations by May 31. The collapse was triggered by a severe fuel price surge due to the Strait of Hormuz…
