Bitcoin Mining Is Dead, Long Live The Miners!

As I write this, Bitcoin is coming off of conceivably its worst week ever.

It started out with the January 31, 2026 release of batch number two of the Epstein files, which implicated none-too-few Bitcoiners and early stage Bitcoin companies (I wonder, will we still be talking about Epstein in 2036?).

The release now reads like a nasty omen. Because on Thursday of the same week, bitcoin suffered its fourth worst drawdown ever, a 21% bludgeoning that bled $16,000 from its price as it went from $76,000 to $60,000 in a single day. 

This was gnarly for bitcoin holders, of course, but it was gnarlier still for Bitcoin miners, who were already suffering under historically low revenue…

Read more on BitcoinMagazine

Tether Takes Control Of Twenty One Capital After Buying Out SoftBank

Tether International has acquired SoftBank’s entire stake in Twenty One Capital, the Bitcoin treasury company co-founded by Jack Mallers, consolidating control over one of the most prominent public Bitcoin vehicles to emerge in the past year.

The transaction, announced May 20, removes the last major outside ownership bloc from Twenty One’s founding three-party structure. SoftBank’s representatives on the company’s board stepped down at closing, per the terms of XXI’s shareholder agreement. No financial details of the deal were disclosed.

Twenty One Capital launched in April 2025 through a business combination with Cantor Equity Partners, with the three founding…

Read more on BitcoinMagazine

Trump Orders Fed To Review Crypto Access To U.S. Payment Rails

President Donald Trump signed an executive order Tuesday directing the Federal Reserve and other financial regulators to tear down barriers that have long kept crypto and fintech firms on the outside of the U.S. payment system — a move that puts the central bank at the center of a fight that has been building for years.

The order, titled “Integrating Financial Technology Innovation into Regulatory Frameworks,” calls on the heads of federal financial agencies to audit existing rules within three months and identify regulations that “unduly impede” fintech firms from partnering with federally regulated institutions. 

Within six months, regulators must act on what they…

Read more on BitcoinMagazine

New Bitcoin, Energy, And Compute Hub Node NBO Opens In Nairobi, Kenya

On Saturday, May 16, 2026, the world’s newest physical Bitcoin space opened in Nairobi, Kenya.

It’s called Node NBO (NBO is short for Nairobi), and it will serve as a co-working space for notable Bitcoin, freedom tech, compute, and energy companies and organizations in Africa, including Fedi, Gridless, and BTrust as well as the Human Rights Foundation (HRF).

A screenshot from the homepage of the Node NBO website.

The facility will also be home to three labs — an open-source energy lab, an open-source Bitcoin mining lab, and an AI compute lab. These labs will serve as places where teams can build, design, and assemble new products as well as strategize implementation.

And Node…

Read more on BitcoinMagazine

Bitcoin Bears Say BTC Is Repeating The 2022 Pattern—K33 Research Says They’re Dead Wrong

Bitcoin (CRYPTO: BTC) is down 6% since revisiting its 200-day moving average near $82,000 earlier this month, but K33 Research argues February’s $60,000 bottom still marks this cycle’s maximum drawdown.

Current Pattern Looks Different From 2014, 2018, 2022

K33 Head of Research Vetle Lunde pointed out that Bitcoin spent 189 days between the November 200-day MA breakdown and May retest—far longer than the 96, 132, and 85 days seen in prior cycles. 

Bitcoin also remains more than 20% down during that period compared to positive returns in 2014 and 2022 and a shallower 8% drawdown in 2018.

The 200-day moving average trended higher in prior years but lower in 2026, creating a fundamentally…

Read more on Benzinga

South Carolina Enacts Bitcoin, Crypto Friendly Law

South Carolina has enacted a new law aimed at establishing a clear and supportive framework for cryptocurrency use, marking one of the most comprehensive state-level efforts to date.

Governor Henry McMaster signed Senate Bill 163 into law on May 19 after it passed the legislature with strong bipartisan support, clearing the Senate in a 38–1 vote and the House in a 110–1 vote. The measure amends the state’s legal code to define key digital asset activities while outlining protections for users, businesses, and infrastructure tied to the sector.

At the core of the legislation is a provision that affirms the right of individuals and businesses to use digital assets like…

Read more on BitcoinMagazine

What’s So Great About The Clarity Act Latest Senate Hurdle, And What Some Web3 Executives Want To See In

Last week, the Senate Banking Committee approved the Clarity Act, setting the table for a full Senate vote at some point in the future. No date has been set. After the GENIUS Act became law last July 2025, fintech players have been waiting for clarity on Clarity.

The landmark U.S. cryptocurrency legislation establishes a comprehensive regulatory framework to define jurisdiction over digital assets between the Securities and Exchange Commission and the Commodities Futures Trading Commission 

The bill still needs to clear the full Senate, reconcile three versions – Senate Banking, Senate Agriculture, and the House of Representatives version, before heading to the White House. Holiday…

Read more on Benzinga

‘Bitcoin Is Going To Zero,’ Says World Gold Council CEO: ‘Just My Instinct As A Trader’

World Gold Council CEO David Tait says Bitcoin (CRYPTO: BTC) is going to zero, calling it “pure instinct” with no reasoning behind the view.

Gold Council CEO: Bitcoin Doesn’t Offset Risk Assets

Tait explained on Tuesday that Bitcoin correlates with risk assets during crises instead of offsetting them as intended. 

He believes Bitcoin was meant to disassociate itself from risky assets but hasn’t delivered on that promise.

“I thought it was meant to be an offset, something that you could compensate for having exposure to risky assets,” Tait stated. “It didn’t really do that to that extent,” he added.

He also argued that investors should hold both gold and Bitcoin if they have…

Read more on Benzinga

Bitcoin Fails At Crucial Resistance: Why Is BTC Stuck At $77,000?

Bitcoin (CRYPTO: BTC) trades around $77,000, following $1 billion in outflows last week after a six-week inflow streak.

Bitcoin Failed At 200-Day MA On First Real Macro Shock

Bitcoin popped above $82,000 on the CLARITY Act vote, then reversed hard and now sits below the 200-day moving average at $82,200 after getting rejected five times this month.

Support holds at $76,000-$78,000. Breaking below $75,000 opens up $70,000-$72,000.

The weekend slide toward $77,000 triggered $657 million in liquidations, $584 million from longs.

Meanwhile, Ethereum (CRYPTO: ETH) dropped 10%, continuing to underperform across spot and derivatives. ETH/BTC pressed 0.0275 with funding softer and relative implied…

Read more on Benzinga

Stock Market Today: S&P 500, Nasdaq 100 Futures Gain As Street Awaits Nvidia’s Q1 Report—CAVA Group, AMC

U.S. stock futures rose on Wednesday following two consecutive days of lower closes for the S&P 500 and Nasdaq 100 indices on Tuesday.

Additionally, the Federal Reserve will be releasing the minutes of the Fed meeting later in the afternoon.

Meanwhile, the 10-year Treasury bond yielded 4.65%, and the two-year bond was at 4.10%. The CME Group’s FedWatch tool‘s projections show markets pricing a 96.7% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.

IndexPerformance (+/-)Dow Jones0.08%S&P 5000.30%Nasdaq 1000.68%Russell 20000.36%Stocks In FocusToll Brothers
Benzinga’s Edge Stock Rankings indicate that TOL maintains a weak price trend… Read more on Benzinga