Gate Insights and Crypto Market Analysis

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

According to Investopedia, in a report dated May 12, investors Michael Burry, who is known for predicting the 2008 real estate market crash, published multiple posts on Substack over the weekend, saying that the recent rally in AI-related stocks “feels like the last few months of the 1999-2000 bubble,” and advising to “trim positions in stocks that are rising in a parabolic way.” Burry’s specific warnings and action recommendations According to Investopedia’s report, in his Substack article on S

On May 13, CoinTelegraph reported that JPMorgan has filed documents with the U.S. Securities and Exchange Commission (SEC) to launch on Ethereum a tokenized fund called the “On-Chain Liquidity Token Money Market Fund” (JLTXX). It would allow stablecoin issuers to deposit their stablecoin reserves into regulated cash-like instruments while earning interest. JLTXX Fund Core Terms and Design According to an SEC filing (reported by CoinTelegraph), JLTXX’s main terms are as follows: Investment target

According to a May 13 report by CommBank, U.S. stocks were mixed on Tuesday: the Nasdaq index fell 0.7% from its all-time high, closing at 26,088.20 points; the S&P 500 index fell 0.2%, closing at 7,400.96 points; the Dow Jones Industrial Average rose 0.1%, closing at 49,760.56 points. On the same day, Brent crude oil rose 3.4% to $107.77 per barrel. AI concept stocks pull back: Intel, Micron Technology, CoreWeave lead the declines According to a CommBank report, on Tuesday the biggest decliners

As of May 13, 2026, XRP is trading at $1.447 on Gate. Over the past 24 hours, the XRP price has fallen 1.52%; over the past 7 days, it has risen 2.17%. The current circulating supply of XRP is about 6.179 billion XRP, corresponding to a market cap of about $8.955 billion. Against the backdrop of the crypto asset price discovery mechanism continuously evolving, the forecast market is becoming a high-frequency window that reflects collective market expectations. A series of Polymarket contracts ar

Loongson Reaches 1 Million Unit Milestone Loongson Technology, a Chinese CPU designer, has shipped more than 1 million units of its 3A6000 desktop processor since its November 2023 launch, according to the South China Morning Post. The milestone marks a significant step in China's effort to

According to Bitcoin.com News on May 13, Michael Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), said Tuesday at the FINRA 2026 annual conference held in Washington that the CFTC is strengthening coordination with the U.S. Securities and Exchange Commission (SEC) in the areas of regulation, rulemaking, and enforcement. He also said they have signed a memorandum of understanding, and are advancing the establishment of a crypto-asset classification framework. Selig’s Key S

According to CoinTelegraph, Bermuda’s Prime Minister David Burt announced at the Bermuda Digital Finance Forum on Tuesday that the Bermuda government plans to move some payment and financial services activities to the Stellar network as part of its plan to become a “fully on-chain national economy.” The government also announced that, after completing a risk assessment, it will be able to accept and invest in digital assets. Stellar Migration Plan: What’s Driving High Payment Processing Fees Acc

According to a statement made by Bitdeer Group Chairman Wu Jihan on X on May 12, Wu Jihan said: “The next target for GPU deployment is 10k units, then 100k units, and then 1 million units.” On the same day, Bitdeer released its April unaudited production and operations update, with AI cloud business annual recurring revenue (ARR) up 60% month over month to $69 million. AI Cloud Business: ARR Rises 60% Month over Month to $69 Million (Source: Bitdeer) Based on Bitdeer’s April operating update, th