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Jane Street seeks to dismiss Terraform's insider-trading suit

Jane Street Group LLC, a prominent quantitative trading firm, has moved to dismiss a lawsuit brought by the administrator of Terraform Labs’ bankruptcy estate. In a Manhattan federal court filing on Thursday, the firm urged the court to throw out the case, which accuses Jane Street of insider trading that allegedly worsened the Terra ecosystem’s collapse. The motion frames Terraform’s complaint as an attempt to recover funds from Jane Street to cover a fraud Terraform allegedly perpetrated on the market. The filing argues that Terraform’s claims rest on a mischaracterization of the firm’s trading activity and that any alleged wrongdoing by Terraform itself has already been prosecuted and resolved. Terraform’s court-appointed administrator, Todd Snyder, filed the lawsuit in February, naming Jane Street, Terra founder Do Kwon’s associates, and two Terraform employees. The complaint accuses the trading firm of acting on material nonpublic information from Terraform insiders to profit from...
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Trump to address memecoin gala Saturday, White House confirms

The White House has confirmed that U.S. President Donald Trump will deliver a keynote address at a private gala for the top holders of the TRUMP memecoin, slated to take place at Mar-a-Lago this weekend. The event has already drawn scrutiny over the intersection of politics, finance and social media hype surrounding meme coins tied to political figures. According to Reuters, the White House affirmed on Friday that Trump would speak at the gala luncheon organized by the company behind the Official TRUMP memecoin. The affair is designed to be exclusive, with access limited to the top 297 TRUMP token holders, and the top 29 holders qualifying for a private reception with the president. The organizers list attendance terms that acknowledge the possibility that Trump’s schedule could prevent participation, or that the event could be canceled for any reason. Key takeaways The White House has confirmed Trump will keynote a gala for TRUMP memecoin holders at Mar-a-Lago, with the event planne...
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Crypto Groups Press Congress on Critical Market-Structure Bill

More than 120 entities tied to the cryptocurrency and blockchain sector are urging U.S. lawmakers to advance a comprehensive digital asset market structure bill. In a letter to leaders of the Senate Banking Committee, the Crypto Council for Innovation (CCI) and the Blockchain Association called for moving toward a markup of the CLARITY Act, which would establish a federal framework for digital asset markets. The legislation, which passed the House in July 2025, has been stalled amid broader government funding battles and disputes over stablecoin yield and other topics. According to the signatories, timely policy action is critical because other major jurisdictions have already enacted wide-ranging crypto regulation. The authors warned that without a comparable U.S. policy framework, the country could cede both economic advantages and strategic leadership to abroad, risking domestic investment, jobs, and technological development to offshore venues. The letter was signed by more than a ...
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Anchorage Expands Solana Staking with Marinade-Powered Strategies

Anchorage Digital has integrated Marinade Finance to let institutional clients stake Solana (SOL) directly through Anchorage’s custody and wallet infrastructure. The move brings Marinade’s automated validator strategies into Anchorage’s platform, enabling stake deployment and yield generation without relinquishing asset control or leaving the custody environment. In its Thursday announcement, Anchorage explained that the integration provides clients with access to Marinade’s staking capabilities within Anchorage’s custody stack and its Porto self-custody wallet. The arrangement is designed to keep staking and withdrawal rights distinct, allowing institutions to influence validator selection and earn staking rewards while retaining custody of their assets. Institutions can choose between two distinct staking paths: a curated strategy that allocates SOL across roughly 30 KYC-verified validators for compliance-centric use cases (including regulated products like ETFs), and a dynamic strat...
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Global crypto adoption slides on headwinds; Turkey bucks downtrend

Global crypto adoption cooled in the first quarter as retail activity faced headwinds from a stronger dollar, higher interest rates and a broader risk-off environment. TRM Labs’ Q1 Global Crypto Adoption Index recorded an 11% year-over-year drop in retail volumes to $979 billion, marking a second consecutive quarterly contraction and the sharpest pullback since the 2022 bear market. Bitcoin’s price also slid, falling about 22% in the quarter after a late-2025 rally that topped above $126,000. “This downturn underscores the sector’s sensitivity to macro conditions,” TRM Labs noted, highlighting how shifts in global liquidity and risk appetite translate into thinner retail participation across markets. Key takeaways Retail volumes declined 11% year over year to $979 billion in Q1, the second straight quarterly contraction. Bitcoin prices dropped roughly 22% during the quarter, continuing a broader price correction after a late-2025 peak. Advanced economies—led by the United States,...
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Crypto-Focused Fellowship PAC Bets Big in Texas Senate Race

In a fresh disclosure to the U.S. Federal Election Commission, Fellowship PAC—the crypto-aligned political action committee led by Bo Hines, the head of government affairs for Tether US—reported spending more than $3 million on advertising tied to U.S. Senate and House races. The majority of the outlay appears aimed at backing a Texas Republican candidate in a runoff that could shape the GOP’s midterm strategy. According to the FEC filing, Fellowship disclosed $1.75 million backing Texas Attorney General Ken Paxton, who is contending with incumbent Sen. John Cornyn in a May 26 runoff to determine the Republican nominee for the 2026 Senate race. The committee also reported advertising spend of $350,000 for Mike Collins in Georgia’s Senate race, $350,000 for Barry Moore in Alabama’s Senate race, and either $250,000 for Blake Miguez or $350,000 for Julia Letlow in Louisiana races, with all purchases routed through the Nxum Group. The marketing firm is co-founded by Bo Hines, described as ...
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Crypto-aligned PAC funds Texas Senate race, shaping policy outlook

A crypto-aligned political action committee has disclosed more than $3 million in advertising expenditures across U.S. Senate and House races, according to a filing with the Federal Election Commission. The spending, orchestrated by Fellowship PAC—led by the head of government affairs for the stablecoin issuer Tether—appears to tilt toward a Texas Republican contest in the 2026 cycle. The FEC document shows a notable focus on Texas Attorney General Ken Paxton, who faces a runoff on May 26 to determine the party’s nominee for the next Senate race. The disclosure outlines a sequence of targeted ad buys: approximately $1.75 million in support of Paxton; $350,000 backing Mike Collins in Georgia’s Senate race; $350,000 supporting Barry Moore in Alabama’s Senate bid; and $250,000 for Blake Miguez along with $350,000 for Julia Letlow in Louisiana’s House and Senate races. All expenditures flowed through Nxum Group, a marketing firm co-founded by Bo Hines, described as a former White House cry...
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