U.S. officials signal an imminent Strategic Bitcoin Reserve update as agencies finalize legal and security infrastructure.
There are few economic bottlenecks more consequential than the Strait of Hormuz. Roughly a fifth of global oil consumption passes through the narrow waterway connecting the Persian Gulf to the Arabian Sea, making it less a regional shipping lane than a structural pillar of the global economy.
The lawsuit alleges that the Bitcoin-centric financial services firm took advantage of insider information to escape major losses.
The litigation arm of the Prime Trust bankruptcy estate filed a 94-page adversary complaint against Swan Bitcoin on May 15, 2026, seeking to recover approximately $970 million in assets the company allegedly withdrew before Prime's collapse.
An American state has signed a new law allowing banks in the state to hold cryptocurrencies and private cryptographic keys on behalf of their clients.
Bitcoin fell to $76,000 on the morning of May 18, reversing a brief relief rally and causing its total market cap to drop to $1.53 trillion. The nearly 2% decline triggered $722 million in total long liquidations across the crypto economy.
Bitcoin's bearish momentum hit hardest on the technical charts, with the cryptocurrency breaking below all major exponential moving averages by early Monday. Trading around $76,750, it sat well beneath the 20-hour EMA at $77,580, the 50-hour at $78,120, the 100-hour at $78,767, and the 200-hour at $79,350.
Strategy acquired 24,869 BTC for $2.01 billion between May 11 and 17, at an average price of $80,985 per unit. Sales of STRC perpetual preferred shares funded 97% of the purchase, generating approximately $1.95 billion in net proceeds. With 843,738 BTC accumulated for roughly $63.
Bitcoin short-term holders breach $78,000 threshold as $1.53 billion in exchange reserves pile up.
Minnesota Gov. Tim Walz signed HF 3709 into law this past week, authorizing state-chartered banks and credit unions to hold bitcoin and other virtual currencies on behalf of customers. State-Chartered Banks in Minnesota Will Be Able to Custody Bitcoin Under New Law The legislation, now Chapter 93 of the 2026 Session Laws, takes effect Aug.
The White House says it has achieved a legal and custody “breakthrough” for the US Strategic Bitcoin Reserve, finally giving Washington a compliant way to safeguard billions in seized BTC.
Bitcoin ETFs bore the brunt of a geopolitically driven sell-off, CoinShares said, though altcoin funds largely held their ground.