Gate Insights and Crypto Market Analysis

On May 13, copper futures prices surged to a record high of $6.69 per pound, up 16.98% since the beginning of 2026, outpacing gold futures' gain of 8.38% over the same period. Citing crypto analyst Ash Crypto, BeInCrypto said that in 2017 and 2021, copper’s rise began about six months earlier than the spike in altcoins. Copper Futures Hits New High: Tight Supply and Growing Demand According to the report, JPMorgan said that Indonesia’s Grasberg copper mine is the world’s second-largest copper mi

According to HK01 on May 13, the High Court of Hong Kong approved on May 4 the application for a restraint order filed by the Department of Justice under the Organized and Serious Crimes Ordinance, issuing restraint orders in total to the founder of the Prince Group, CHEN Zhi, ZHOU Yun, WU An Ming, LI Thet, and 38 companies, with frozen assets totaling HK$8.94B. CHEN Zhi’s assets in Hong Kong: over HK$6.36 billion Based on HK01’s report and public information from the High Court’s restraint orde

According to data disclosed by SoSoValue on May 13, as of May 12 in U.S. Eastern Time, U.S. Bitcoin spot ETF net outflows totaled $233 million, while Ethereum spot ETFs combined saw net outflows of $131 million. A 13F filing submitted by Wells Fargo to the U.S. SEC shows that in the first quarter of 2026, the bank significantly increased its holdings of BlackRock’s Ethereum ETF (ETHA) by 63.5%. Bitcoin Spot ETF Fund Flows on May 12 (Source: SoSoValue) Based on SoSoValue data, the key metrics for

According to a report by Taiwan’s Central News Agency (CNA) on May 13, Taiwan’s Financial Supervisory Commission (FSC) announced on May 12 that it imposed a fine of NT$32 million on Taichung Commercial Bank (Taichung Bank) for multiple deficiencies in the bank’s deposit account opening procedures, ongoing customer identity due diligence, and account monitoring mechanisms. The penalty sets a record for the highest fine in Taiwan’s banking industry. FSC Penalty Decision and Legal Grounds for Viola

Treasury Cabinet Secretary John Mbadi has submitted Kenya’s Finance Bill 2026 to Parliament, introducing mandatory annual reporting requirements for virtual asset service providers alongside the reintroduction of a 20% withholding tax on gambling winnings, closing both lanes of the standard crypto-o

Elon Musk’s ongoing trial over a $134 billion lawsuit filed by OpenAI CEO Sam Altman continued on May 12, with Altman testifying in court. During his testimony, he described a late-night meeting held at Tesla in 2017, when Musk suddenly pulled out his phone and forced everyone present to watch a “meme” on the screen for “a very, very long time.” Meme incident: a late-night Tesla interlude According to a report by Intelligencer, Altman recalled in his testimony that in 2017 the two sides were ser

According to a May 12 X announcement from the DeFi protocol Avant, Avant said it would postpone the token generation event (TGE) to mid-September. Avant Rewards points will stop accruing on May 15, and all points users had accumulated previously will be retained; users will be able to participate in the airdrop when the TGE occurs in the future. Avant said the decision was based on the assessment that the current market environment is not suitable for a token launch. Reasons for the TGE Postpone

Legend CEO Jayson Hobby, who is dedicated to simplifying on-chain finance into a traditional app-like experience, announced on X on May 13 that the company has decided to shut down after two years of operations. According to Hobby’s statement, the Legend app will continue to operate normally for 60 days and will officially stop service on July 12; existing users should move their funds out of the app before the shutdown. Shutdown Reasons and Background of the Business Decision According to Jayso

Walmart is cutting or relocating approximately 1,000 corporate jobs as it consolidates its technology and AI teams, according to a May 12 memo from global CTO Suresh Kumar and AI executive vice president Daniel Danker. The restructuring is designed to simplify reporting lines, clarify ownership, and

According to a May 13 X announcement by YZi Labs, YZi Labs has announced the complete graduating roster for the third season of the EASY Residency incubation program. A total of 25 startup teams completed their demo day at the Computer History Museum in Mountain View, California. This season’s core theme is rebuilding the structure of on-chain financial markets and the role of AI within them. Seven Track Themes According to YZi Labs’ official announcement, EASY Residency Season 3 covers the foll

An anonymous campaign staffer told NPR earlier this month that they and colleagues routinely placed Polymarket bets on internal polling data before public release, generating thousands of dollars per cycle. The admission marks the third Polymarket-specific insider trading pattern documented by NPR i

According to Finance Feeds on May 13, Charles Schwab, a retail investing giant with $11.9 trillion in assets under management, is rolling out Schwab Crypto accounts to retail customers in phases. The accounts will support spot trading of Bitcoin and Ethereum, with full availability expected to be completed in the second quarter of 2026; the spot trading fee is 75 basis points per transaction. Schwab Crypto Account Features and Limitations According to Finance Feeds’ report and Schwab’s official

Moody's Ratings released an in-depth industry report on May 12, saying that through discussions with U.S. banking industry and financial institutions, as well as a review of publicly disclosed information, an industry consensus has formed that the transition to a digital financial system is taking shape in a “slow at first, then fast” pattern. The report said that the outstanding size of tokenized money market funds (MMF) is $10 billion, and the Depository Trust & Clearing Corporation (DTCC) wil

US-based venture capital firm Lightspeed has reduced its fifth India-focused fund target to between $300 million and $350 million from as much as $500 million, according to The Economic Times. The firm is shifting its focus toward early-stage AI and deeptech investments. Strategic Shift and Fund S

According to Bitcoin.com News on May 13, a U.S. district judge, William Conley, ruled on Monday that the Ho-Chunk Nation has shown a “likelihood of success” in its lawsuit alleging Kalshi violated the Indian Gaming Regulatory Act (IGRA), a precedent ruling by a federal court for the first time supporting the tribe’s position. Ruling Details: Ho-Chunk Case and 16 Tribes Supporting According to Bitcoin.com News, the Ho-Chunk Nation (a Native American tribe recognized by the federal government) fil

According to Bits.media, on May 12, the Presnensky Interdistrict Court of Moscow sentenced Binance Russia and the CIS’ former regional head, and Vladimir Smerkis (Vladimir Smerkis), co-founder of the Blum crypto platform, to five years in prison. Smerkis was found guilty of large-scale fraud under Article 159, Paragraph 4 of the Russian Criminal Code. He is 41 years old. Case details: Fraud allegations over ad promotion services According to Bits.media, Russian prosecutors said that in June 2024

According to Cointelegraph citing Politico on May 13, members of the U.S. Senate Banking Committee have submitted more than 100 amendments to a crypto bill that will be considered on Thursday. A draft copy obtained by Politico shows that Coinbase, Kraken, and Gemini had urged lawmakers to repeal a clause in the bill requiring platforms to list only “hard-to-manipulate” tokens. Core dispute over the anti-manipulation listing clause According to Politico, current CFTC rules require exchanges seeki

According to Bits.media, reported on May 13, multiple Telegram usernames and virtual vanity numbers were sold on the Fragment auction platform at record-high TON token prices; within a few hours after the trades, the attacker launched a forged USDT attack on users of the TON blockchain NFT trading platform Getgems. A Chinese collector reportedly lost more than $800k in a virtual-number code. Fragment Platform Vanity Number Deal Records According to Bits.media, the major completed deals on the Fr

According to a May 12 report by O'Keefe Media, political activist and journalist James O'Keefe recently released an undercover video on his program “On The Inside,” showing two men working in the White House making critical remarks about President Trump during conversations with an undercover reporter. O'Keefe Media explicitly stated in its report that the relevant clips have not yet been independently verified. Lott’s Recorded Comments and Written Response According to O'Keefe Media’s report, M