Elon Musk said most cryptocurrencies are “scams” during his Thursday testimony in the OpenAI trial, according to a reporter covering the case.

Musk’s Response To Initial Coin Offering Question

Mike Isaac, a tech reporter from The New York Times, quoted Musk explaining cryptocurrency to the jury in the Federal Courthouse in downtown Oakland.

“Some of them have merit, but most of them are scams,” Musk was quoted as saying.

The comment was in response to a question about OpenAI’s reported plans to raise funds through an initial coin offering—a cryptocurrency-based fundraising—in 2018, Issac said.

Benzinga couldn’t independently verify Musk’s statements. Tesla, SpaceX and xAI…

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The Senate unanimously passed on Thursday a resolution introduced by Sen. Bernie Moreno (R-Ohio) that bans Senators, Officers, and staff from participating in prediction markets.

Senate Says No To Prediction Market Wagering

The Senate agreed to pass the resolution “effective immediately,” according to an update on Moreno’s official Senate website.

The resolution alters the Senate’s standing rules, preventing lawmakers from entering financial agreements where the “outcome depends on whether a specific event does or does not happen.”

“Serving in Congress should never be about finding new ways to profit; it should be about delivering results for the American people,” said…

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Leading cryptocurrencies moved sideways, while stocks rallied to record highs on Thursday as investors digested the U.S. economy’s first-quarter growth that fell short of forecasts.

Crypto Market Stuck

Bitcoin moved in a narrow band from the mid-$75,000s to mid-$76,000s, as volume dropped sharply in the past 24 hours.

Ethereum also wobbled in the $2,200 region amid a 47% drop in volume, while Dogecoin eked out a gain of 1.09%

Over $130 million was liquidated in the past 24 hours, with $71 million in long positions wiped out, according to Coinglass data.

Open interest in Bitcoin futures fell marginally by 0.46% over the last 24 hours. Retail and whale Binance derivatives traders were…

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Riot Platforms Reports Mixed Q1

Riot reported first-quarter revenue of $167.20 million, beating analyst estimates of $130.79 million. The company reported a first-quarter loss of $1.44 per share, missing estimates for a loss of 44 cents per share, according to Benzinga Pro.

Riot said it mined 1,473 Bitcoin (CRYPTO: BTC) in the quarter, down from 1,530 year-over-year. The average cost to mine Bitcoin in the first quarter was $44,629.

Riot also generated data center revenue for the first time, reporting $33.2 million for the segment as the company continues to shift its focus from Bitcoin mining to AI infrastructure.

“The first quarter of 2026 marks a definitive inflection point for…

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Bitcoin (CRYPTO: BTC) is trading sideways near $76,000 as traders closely watch Federal Reserve policy and regulatory developments.

“Two Major Overhangs“

During an Apr. 30 crypto roundtable featuring Benjamin Cowen, analysts highlighted two key near-term risks: tightening global regulation and uncertainty around Federal Reserve policy.

Chair Jerome Powell is maintaining a cautious stance and persistent inflation, particularly tied to energy prices, continues to keep monetary policy tight.

Market sentiment has deteriorated, with crypto discussions fading across social platforms, often a sign of declining retail interest.

Price action reflects this shift.

The Trade Setup

Traders say the lack…

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World Liberty Financial (CRYPTO: WLFI) has drawn new ire from Democratic lawmakers as the token plunged over 15% after a controversial governance vote.

The Southeast Asian Syndicate Connection

The Wall Street Journal recently linked WLFI to a Southeast Asian criminal syndicate. Last year, WLFI partnered with crypto firm AB, which was overseeing a blockchain-themed resort in East Timor led by two sanctioned men.

The resort’s controlling shareholder Yang Jian and General Manager Yang Yanming were sanctioned by the U.S. last October as part of a crackdown on the billion-dollar overseas crypto scam industry and the Prince Group conglomerate.

WLFI told The Wall Street Journal that it never held…

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Bitwise Asset Management CEO Hunter Horsley says the crypto industry is entering a new phase in 2026, driven by rapid institutional adoption and improving regulatory clarity.

Banks Accelerate Crypto Initiatives

In an Apr. 30 interview, Horsley said banks, corporations and financial institutions are moving aggressively into digital assets, with some firms pushing teams to go “from zero to 500 miles an hour” on crypto strategies.

He attributed this acceleration to a combination of clearer regulations, more mature infrastructure and rising demand for assets such as Bitcoin (CRYPTO: BTC) and stablecoins.

Horsley also pushed back on concerns that Bitcoin is “too expensive,” arguing that the more…

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Antonelli: Crypto Became Irrelevant Fast

Antonelli wrote on X that it was “remarkable” how quickly crypto had become “irrelevant,” questioning whether the technology had delivered any meaningful real-world adoption beyond functioning as a payment system.

“No one built a single thing on it that gained widespread adoption,” Antonelli posted.

“Remember when it was going to replace the dollar? Laughable,” he added.

The post drew sharp backlash from Bitcoin supporters. Crypto investor Wendy O responded that traditional financial industry giants are excited about crypto and Bitcoin ETFs, patiently waiting on market structure before expanding further. 

Another user noted crypto’s…

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ARK Bought The Dip At $71

The firm also sold 243,147 shares of the ARK 21Shares Bitcoin ETF from ARKW and ARKF.

HOOD is now the sixth-largest holding in ARKK with a 4.3% weighting worth $275.3 million, fourth in ARKW at 4.6% worth $75.6 million, and sixth in ARKF at 4.4% worth $36.1 million.

For perspective, Tesla, Advanced Micro Devices, and Shopify represent the top assets in those funds with weightings of 9.7%, 9%, and 9.4%.

ARK typically adjusts holdings so no single stock exceeds 10% of a fund’s portfolio, actively rebalancing when asset values fluctuate significantly.

Why Wood Is Buying While Others Sell

Robinhood crashed after reporting Q1 crypto revenue plunged 47% to $134 million…

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Bitcoin Against Media Blackout

At the Bitcoin 2026 conference in Las Vegas, Dorsey and Eugene Jarecki, the director of “The Six Billion Dollar Man,” announced a private pay-per-view “just to people in the Bitcoin community.”

The documentary had its world premiere at the 2025 Cannes Film Festival, where it won the “Golden Eye” award and later won a Golden Globe.

However, Jarecki said that the film faced a “media blackout” soon after, adding, “No streamer will touch the film and no mainstream media outlet will go near it.”

Why Dorsey Wants Bitcoiners To Watch It

Jarecki then got in touch with Dorsey, a vocal proponent of Bitcoin and decentralized technologies, who…

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