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, Chinese firms can sue for losses from these sanctions, as Beijing might prepare countermeasures. China’s
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 has halted withdrawals. Concurrently, US federal authorities have seized its primary web domain, and regulators
Key Takeaways: Kevin Warsh cleared a 13-11 Senate Banking Committee vote on April 29, replacing Powell as Fed Chair in May 2026. Polymarket traders priced a 96% chance the Fed holds rates steady at the June 17 FOMC meeting. Warsh signals rate cuts tied to AI productivity gains, but inflation at 3.3% may limit his
Key Takeaways: Rakuten Wallet enabled XRP conversions, trading, and Rakuten Cash funding for users in Japan. Scale comes from 44 million Rakuten Pay users and 5M+ merchants. Integration expands XRP utility across rewards, wallets, and everyday purchases. Rakuten Wallet Links XRP to Loyalty Points and Payments Rakuten Wallet has enabled XRP functionality, allowing users in
Key Takeaways: Onchain data shows 793 BTC spent May 1-3, 2026, with 56 of 62 outputs originating from 2016 wallets. A single 110 BTC output created in June 2011 moved on May 1, signaling decade-old holders are still active. Activity spiked sharply on May 3 as bitcoin traded near $79,000, with 50 of 62 total
This editorial is from last week’s edition of the newsletter Week in Review. Subscribe to the newsletter to get this weekly editorial the second it’s finished. The newsletter also includes the biggest stories of the week with a comment on each story. Key Takeaways: Tether froze record USDT as U.S. seized $500M from Iran, putting
Key Takeaways: Gareth Soloway of Verified Investing warns bitcoin could drop 38% to $50,000 as a bear flag pattern takes hold. Soloway told David Lin that recession odds have shifted to 2027, driven by $700 billion in annual AI capex from mega-cap firms. Natural gas stands as Soloway’s lone near-term buy, with a breakout above
Key Takeaways: Bitcoin holds $78K on May 3, 2026, as market data shows consolidation below $80K resistance. TradingView indicators show 62 RSI and mixed signals, signaling indecision across crypto markets. Bitcoin tests $80K zone; break or rejection may drive next 5% to 10% move in the coming sessions. Bitcoin Chart Outlook The daily chart structure
Key Takeaways: Bitcoin difficulty fell 2.3% on May 1, marking 6 cuts in 2026 as hashrate dipped below 1 ZH/s. Over the last seven days, Foundry USA mined 31.51% of 987 blocks, and with Antpool and ViaBTC combined, it pushes the three pools’ share to 58.35%. Hashprice rose to $37.52/PH/s as block times hit 10:28,
Key Takeaways: On April 30, Brazil’s Central Bank banned crypto in cross-border payments, impacting institutions by Oct 1. Bitso’s 2025 report reveals stablecoins drove 40% of Latam crypto buys, shifting the market toward stability. In 2026, Meta and Stripe launched USDC payouts in Colombia, targeting frictionless future creator payments. Brazil Bans Crypto in Cross-Border Payments