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Coinbase Shares Fall on $400 Million Loss, Fund Managers Warm to Bitcoin

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Today in crypto, Coinbase shares fell after reporting a $400 million net loss in Q1, fund managers warm back up to digital assets, with Bitcoin continuing to dominate allocation preferences, while Germany may be looking to overhaul its crypto tax rules from 2027, potentially curbing the country’s hallmark one-year tax-free holding rule.

Coinbase shares slide on $400 million Q1 loss, revenue miss

Coinbase shares slid Thursday after the US crypto exchange reported a steep first-quarter loss while revenue missed Wall Street expectations.

Coinbase reported a net loss of $394.1 million in Q1, its second consecutive quarterly loss after reporting a $667 million loss in Q4 2025. It swung from a $65.6 million profit a year earlier. 

“Macro conditions were genuinely tough,” Coinbase chief financial officer Alesia Haas told investors on an earnings call. “Total crypto market cap and total crypto trading volume were both down more than 20% quarter-over-quarter.”

Coinbase’s earnings come as other crypto companies have also struggled to turn a profit in the first months of 2026 as a crypto market slump pushed some traders to other investments.

Meanwhile, Coinbase’s Q1 revenue was $1.41 billion, missing analyst estimates of $1.5 billion. Transaction revenue slumped 40%, while subscription and services revenue — representing its business outside trading — fell 13.5% from a year earlier. 

Its earnings per share were a $1.49 loss, compared to analysts’ expectations of 36 cents per share, which saw Coinbase dropping by 4.7% after hours on Thursday to under $184.

Fund managers double down on Bitcoin as crypto sentiment rebounds — CoinShares

Fund managers are warming back up to digital assets, with Bitcoin continuing to dominate allocation preferences even as broader crypto sentiment improves, according to a new survey by CoinShares.

The April survey gathered responses from 26 institutional investors overseeing a combined $1.3 trillion in assets under management. Allocations to digital assets remain relatively modest, at around 1%, reflecting what CoinShares described as “typical entry sizing” in the current de-risking environment.

“Bitcoin remains the digital asset with the most compelling growth outlook,” CoinShares head of research James Butterfill wrote in the report. Sentiment toward Ether (ETH) and Solana (SOL) also improved modestly compared with previous quarters.

The findings suggest institutional investors are gradually increasing exposure to crypto amid improving market sentiment, growing adoption of exchange-traded funds (ETFs) and a more favorable regulatory backdrop.

Fund managers identified Bitcoin as having the strongest growth outlook among digital assets, followed by Ether and Solana. Source: CoinShares

Germany weighs 2027 crypto tax overhaul as one-year holding rule under threat

Germany is preparing to change how it taxes Bitcoin and other cryptocurrencies from 2027, potentially ending one of Europe’s most generous long-term holding exemptions as it seeks to raise additional revenue and tighten tax compliance.

Finance Minister Lars Klingbeil said at an April 29 press conference on the 2027 federal budget that the government wants to “tax cryptocurrencies differently,” and key points include an extra 2 billion euros (about $2.3 billion) in revenue from crypto taxation and measures against financial and tax crime.

Under current rules, private crypto gains in Germany are taxable if the assets are sold within one year of acquisition, but are generally tax-free after that period. The exemption has made Germany one of the more favorable European jurisdictions for long-term Bitcoin and crypto holders.

The finance ministry’s 2022 and 2025 guidance confirmed that this one-year “Haltefrist” also applies to coins used in staking and lending, after an earlier plan for 10 years was dropped. Tax advisory firms such as Blockpit describe the rule as a key advantage for German retail investors, especially long-term holders.

Germany plans to “tax cryptocurrencies differently.” Source: Bundesfinanzministerium

Klingbeil did not explicitly reference the holding period in his April remarks. However, industry groups, including the German Bitcoin Association, say the exemption is the most likely target if the government aims to generate significant revenue from crypto taxation.

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.



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Crypto Polo Cup returns for its fourth edition in Palm Beach during Consensus Miami week

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Palm Beach, Florida, May 7, 2026 – Hosted by Luna PR, the fourth edition of the Crypto Polo Cup (CPC) will take place on May 9, 2026, at the Santa Clara Polo Club, alongside Consensus Miami. The invite-only event will bring together institutional leaders, founders, and investors across the digital asset and financial sectors.

Since its debut in Palm Beach in 2022, Crypto Polo Cup has established itself as a premier gathering the intersections of digital assets, finance, and culture. Now in its fourth year, the 2026 edition will welcome more than 500 guests for a day blending sport, entertainment, and high-caliber networking.

“The Crypto Polo Cup has grown into a global meeting point for leaders across industries, creating a space where meaningful relationships are formed, strategic conversations happen, and real collaboration takes shape,” said Nikita Sachdev, Founder and CEO of Luna PR. “We are proud to bring CPC back to Florida, where it first began, and to welcome our global community during Consensus Miami week.”

The event will feature two professional polo matches, offering a distinctive setting for meaningful conversations and high-value connections. Alongside the match, guests will have the opportunity to connect with senior leaders across the financial sectors in a more intimate environment.

This year’s edition is supported by a select group of partners whose involvement reflects the continued industry backing behind CPC including TEXITcoin, Binance, Naoris, AMINA, Solana Company, CakeWallet, Unicoin, Quantum, CoinRoutes, and Sailo Tech.

This year’s ambassador lineup spans across government, global exchange leadership, venture capital, media and digital asset innovation, reflecting the breadth of industries that CPC brings. Ambassadors include:

  • Michael Carbonara, Congressional Candidate FL-22
  • Rachel Conlan, Global CMO of Binance
  • Yana Prikhodchenko, CEO of Cointelegraph Global
  • Tess Hau, Founder of Tess Ventures
  • Silvina Moschini, Founder of Unicorn Hunters
  • Michael Terpin, Founder and CEO of Transform Ventures
  • Matthew Jason Nordgren, Founder and Managing Partner of Arcadian Capital
  • Ran Neuner, Founder of Crypto Banter
  • Gary Hopkinson, Managing Director of Clear Street
  • Analys Falchuk, Investor Relations Manager, OG Advisory Group.

Their participation reinforces the CPC’s position as a meeting point for leaders shaping the future of technology, finance, media, and global markets.

CPC continues to serve as a platform to major industry gatherings, offering a more informal environment for connection and collaboration. Attendance is invitation only. Limited media access is available upon request.

About Crypto Polo Cup

The Crypto Polo Cup is where the world of investment, innovation, and influence converges. Since its inception in Palm Beach, Florida, in 2022, it has become a premier invitation-only event that attracts the biggest players in venture capital, blockchain, and emerging technology. With billions in investment capital represented on and off the field, this is where deals are made, partnerships are formed, and the future of Web3 takes shape.

Powered by Luna Media Corp, a global powerhouse that houses eight companies, including Luna PR – the leading PR agency in Web3, the Crypto Polo Cup is a gathering of visionaries who are shaping the future of technology and finance.

www.cryptopolocup.com

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This publication is provided by the client. The text below is a paid press release that is not part of Cointelegraph.com independent editorial content. The text has undergone editorial review to ensure quality and relevance, it may not reflect the views and opinions of Cointelegraph.com. Readers are encouraged to conduct their own research before taking any actions related to the company. Disclosure.





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Samson Mow Says Potential Strategy BTC Sales Are Strategic

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Bitcoin advocate Samson Mow defended Michael Saylor’s suggestion that Strategy could sell some of its Bitcoin (BTC), arguing that keeping the option open gives the company more flexibility in public markets.

“Never selling limits optionality. Public markets are war. In war, you need all available tools at your disposal,” Mow wrote after Saylor said during Strategy’s first-quarter earnings call that the company could sell some Bitcoin in the future.

Mow added:

“The more tools Strategy holds, the fewer angles its adversaries have. A company with real optionality is hard to game: it might sell, hedge, issue, or buy. A company that has publicly vowed to only ever do one thing has handed a map to short sellers and arbitrageurs.” 

Strategy is the largest publicly traded Bitcoin treasury company, with 818,334 BTC, according to BitcoinTreasuries. Some analysts have warned that any sales by the company could weigh on spot Bitcoin prices.

Strategy’s total BTC holdings over time. Source: Strategy

Related: Strategy takes Bitcoin buying breather ahead of Q1 earnings report

As he signals potential BTC sales, Saylor says company can fund dividends “forever” on BTC alone

“We’ll probably sell some Bitcoin to fund a dividend, just to inoculate the market, just to send the message that we did it,” Saylor said during the earnings call.

He said that if the price of BTC appreciates by more than 2.3% annually, the company can fund its dividends “forever” and would also allow Strategy to pay dividends “without selling a single share of stock.”

“We could stop selling MSTR common stock right now,” Saylor said, adding, “We can fund the dividends with Bitcoin sales.”

Saylor discusses paying dividends using BTC appreciation. Source: Strategy

Saylor said Strategy could keep funding dividends if it continues issuing STRC preferred stock and Bitcoin rises above the breakeven level, while still increasing its total BTC holdings.

The average cost of Strategy’s BTC holdings is $75,537 apiece, according to the company’s website. At last look on Thursday, Bitcoin was changing hands at about $79,976, according to CoinMarketCap.

Strategy funds its BTC purchases through a mixture of corporate debt and equity instruments, a practice that has raised concerns with some investors over shareholder dilution and leverage-fueled buying.

Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation: Santiment founder

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.



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Kalshi Hits $22B Valuation After $1B Raise Amid Prediction Market Surge

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Prediction marketplace Kalshi reached a $22 billion valuation after closing a $1 billion Series F funding round, underscoring venture capital interest in regulated event trading.

The new valuation doubles Kalshi’s valuation from just five months ago. The funding round was led by Coatue Management, with participation from Andreessen Horowitz, Sequoia Capital, Morgan Stanley and Ark Invest.

The raise comes as investors increasingly view prediction markets as one of the fastest-growing segments of digital finance. Andreessen Horowitz’s crypto unit, a16z crypto, recently raised $2.2 billion for its latest fund and identified prediction markets as a major investment theme.

Kalshi has emerged as one of the industry’s dominant platforms. A company spokesperson told Bloomberg that Kalshi’s annualized revenue run rate has surpassed $1.5 billion.

Unlike rival Polymarket, which operates on decentralized blockchain infrastructure, Kalshi runs a centralized and federally regulated marketplace that allows users to trade on the outcomes of real-world events, including elections, economic data releases and sports. 

Together, Kalshi and Polymarket accounted for the bulk of the more than $25 billion in prediction market trading volume recorded last month.

Prediction market volumes by platform. Source: Bitget Wallet

Kalshi has also expanded its crypto ambitions. The company recently appointed John Wang as its head of crypto, and he told Forbes, “We would like to have Kalshi’s prediction markets in every large crypto app.”

Related: Polymarket odds of Hormuz Strait traffic normalizing by end of May spike to 73%

Regulatory scrutiny intensifies as prediction markets expand

The latest wave of venture backing comes as Wall Street analysts argue that prediction markets are evolving beyond retail speculation into institutional financial tools.

In a recent research note, Bernstein said prediction markets are entering an “institutional era,” driven by demand for bespoke block trades and custom event contracts that allow firms to hedge against specific macro and geopolitical risks.

At the same time, the sector faces mounting legal and political scrutiny in the United States.

According to NPR, Kalshi is involved in at least 19 federal lawsuits over whether its event contracts violate state gambling laws.

States including Massachusetts, New Jersey, Arizona, Nevada, Illinois and Connecticut have challenged Kalshi’s operations, arguing that some of its sports and event-based contracts amount to unlicensed gambling.

The political pressure has also intensified in Washington. Democratic lawmakers have called for tighter oversight of prediction markets following concerns over “suspicious trades” tied to geopolitical events.

Source: Stephanie Cutter

In response, Kalshi has expanded its policy and regulatory bench. The company recently brought on former Obama staffer Stephanie Cutter as a policy adviser, a move widely seen as an effort to strengthen its relationships in Washington and navigate the growing scrutiny surrounding prediction markets.

Related: Crypto Biz: Capital has no consensus

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.



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Bitcoin Slips Below $80K As Spot ETF Inflows Top $1B

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Bitcoin (BTC) price dropped to $79,800 on Thursday after being rejected at a key dynamic resistance level. The pullback occurred despite the weekly spot Bitcoin exchange-traded fund (ETF) inflows surging past $1 billion for the first time since January, but technical data suggests the correction may be short-lived. 

Bearish divergences point to where BTC price may go

Bitcoin’s dip below $80,000 came amid a bearish divergence in the relative strength index (RSI) on the one-hour and four-hour charts. A bearish divergence occurs when BTC forms higher highs while the RSI weakens across lower timeframes, signaling fading buying momentum during a rally.

BTC/USDT, four-hour chart. Source: Cointelegraph/TradingView

A hold above the weekly open at $78,500 could stabilize the short-term price action. The key technical support range remains between $76,000 and $78,000, where the daily fair value gap (FVG) aligns with Bitcoin’s 200-day exponential moving average (EMA). If the correction continues, BTC could retest the FVG zone before attempting another rebound above its recent high at $82,800.

A fair value gap marks an area where a sharp price movement previously occurred with limited trading activity, leaving an imbalance that often becomes a liquidity zone during retracements.

Crypto trader Jelle said the “200-day MA/EMA cluster” was acting as resistance, while also identifying $78,000 as the first major support area. According to Jelle, a 200-day moving average retest could allow Bitcoin to retest higher price targets.

Meanwhile, crypto trader Killa XBT identified the $76,300 to $74,700 range as a deeper support zone if selling pressure continues. The trader pointed to the weekly open near $78,500 as the main short-term level that bulls are attempting to defend. 

BTC one-day chart analysis by Killa. Source: X

Related: Bitcoin analysts say this level must break for BTC price to confirm bottom

Can spot ETF inflows offset price weakness?

Spot Bitcoin ETF demand strengthened sharply this week. Net inflows reached $1.05 billion, marking the strongest weekly intake since the third week of January. A positive close on Friday would confirm the largest weekly ETF inflow return in nearly four months.

Spot BTC ETF net inflows. Source: SoSoValue

Meanwhile, Swissblock data shows that the Bitcoin Risk Index has reset to near zero, while ETF net flows turned positive again at roughly 3,000 BTC. Historically, elevated risk readings aligned with the ETF outflows and heavier selling pressure across the market. 

Risk index and BTC ETF net flows. Source: Swissblock/X

The resets into the low-risk zone often coincided with renewed accumulation near the major support clusters. The analysis added, 

“That synchronization is still in place. Even when the Risk Index ticked slightly higher last week, ETF selling appeared briefly, but accumulation quickly resumed. That tells us ETF demand is absorbing selling pressure. This remains a flow-driven breakout.”

Related: Bitcoin market dominance moves above 61%: Will altcoins follow?

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.



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Unlock Lasting Vitality: Your Comprehensive Guide to Biohacking for Sustainable Energy

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Are you tired of the midday slump, the brain fog that descends in the afternoon, or the general feeling of being drained, no matter how much sleep you think you’re getting? In our fast-paced world, sustained energy isn’t just a luxury; it’s a necessity for peak performance, mental clarity, and overall well-being. Many of us resort to quick fixes like caffeine or sugary snacks, only to experience a subsequent crash. But what if there was a way to optimize your body’s natural energy-producing systems from the inside out? This guide will delve into the science and practice of biohacking for energy, offering actionable strategies to help you achieve and maintain vibrant, lasting vitality.

Table of Contents

  • Understanding the Fundamentals of Energy Production
  • The Pillars of Biohacking for Energy
  • Science-Backed Strategies for Boosting Energy
  • Practical Lifestyle Changes for Sustained Vitality
  • Debunking Common Energy Myths
  • Your Biohacking Action Plan

Understanding the Fundamentals of Energy Production

Before diving into biohacking techniques, it’s essential to grasp how our bodies generate energy. At its core, energy production is a complex biochemical process primarily occurring in the mitochondria, the powerhouses of our cells. These tiny organelles convert nutrients from the food we eat into adenosine triphosphate (ATP), the main energy currency of the cell. Factors influencing this process include cellular respiration, nutrient availability, hormonal balance, and the efficiency of waste removal.

Mitochondrial Health: The Key to Cellular Energy

Mitochondria are crucial for sustained energy levels. Their health and number directly correlate with our capacity to produce ATP. When mitochondria are damaged or inefficient, energy production suffers, leading to fatigue. Factors like chronic stress, poor diet, lack of sleep, and exposure to toxins can impair mitochondrial function. Conversely, certain lifestyle interventions can support and even increase mitochondrial biogenesis (the creation of new mitochondria).

The Pillars of Biohacking for Energy

Biohacking, in essence, is about leveraging science and technology to optimize your biology. When applied to energy, it focuses on several key pillars:

1. Optimized Nutrition: Fueling Your Mitochondria

What you eat directly impacts your body’s ability to produce energy. Focusing on nutrient-dense foods that support mitochondrial function is paramount. This includes:

  • Healthy Fats: Omega-3 fatty acids found in fatty fish, flaxseeds, and walnuts are vital for cell membrane health, including mitochondrial membranes.
  • Antioxidants: Vitamins C and E, selenium, and phytonutrients found in colorful fruits and vegetables protect mitochondria from oxidative stress.
  • B Vitamins: These are essential cofactors in the energy production pathways within mitochondria.
  • Minerals: Magnesium, iron, and CoQ10 play critical roles in ATP synthesis.

2. Strategic Sleep Optimization: Restorative Cycles

Sleep is not merely a period of rest; it’s when the body performs crucial repair and regeneration processes, including mitochondrial maintenance. Achieving deep, restorative sleep is non-negotiable for sustained energy.

3. Targeted Movement and Exercise: Enhancing Mitochondrial Biogenesis

While it seems counterintuitive, expending energy through exercise actually increases your body’s capacity to produce it. High-intensity interval training (HIIT) and strength training are particularly effective at stimulating mitochondrial growth.

4. Stress Management and Mindfulness: Reducing Energy Drains

Chronic stress is a significant energy drain. It elevates cortisol levels, which can disrupt sleep, impair metabolic function, and deplete neurotransmitters necessary for alertness and focus.

5. Environmental Optimization: Leveraging Nature and Technology

Your surroundings can profoundly impact your energy levels. This includes exposure to natural light, the quality of the air you breathe, and even the electromagnetic fields you are exposed to.

Science-Backed Strategies for Boosting Energy

Here are specific, science-backed biohacking strategies to enhance your energy levels:

1. Cold Exposure Therapy

Brief exposure to cold, whether through cold showers, ice baths, or outdoor activities in cooler temperatures, can stimulate brown adipose tissue (BAT). BAT is rich in mitochondria and can increase metabolic rate and energy expenditure, leading to a temporary boost in alertness and potentially long-term metabolic improvements.

2. Intermittent Fasting (IF)

Certain patterns of intermittent fasting, such as a 16:8 protocol (16 hours of fasting, 8 hours of eating), can trigger cellular repair processes like autophagy, which clears out damaged mitochondria and makes way for new, more efficient ones. IF can also improve insulin sensitivity, leading to more stable blood sugar levels and consistent energy.

3. Light Therapy and Circadian Rhythm Alignment

Exposing yourself to bright, natural light in the morning helps regulate your circadian rhythm, signaling to your body that it’s time to be awake and alert. Conversely, minimizing exposure to blue light from screens in the evening promotes melatonin production and better sleep quality. Smart lighting systems can also be used to mimic natural light cycles.

4. Supplementation for Mitochondrial Support

While a whole-foods diet is primary, certain supplements can support mitochondrial function when deficiencies exist or additional support is needed:

  • Coenzyme Q10 (CoQ10): A powerful antioxidant crucial for ATP production.
  • NADH: Involved in the electron transport chain, directly aiding ATP synthesis.
  • Magnesium Glycinate: Essential for over 300 enzymatic reactions, including those in energy metabolism.
  • Creatine Monohydrate: Primarily known for muscle performance, it also plays a role in cellular energy reserves.

Always consult with a healthcare professional before starting any new supplement regimen.

5. Breathwork Techniques

Controlled breathing exercises, such as the Wim Hof Method or simple diaphragmatic breathing, can increase oxygen intake, promote relaxation, and reduce stress hormones, all contributing to a greater sense of energy and mental clarity.

Practical Lifestyle Changes for Sustained Vitality

Biohacking isn’t just about high-tech interventions; it’s also about consistent, foundational lifestyle choices:

Hydration: The Unsung Hero

Dehydration is a common, yet often overlooked, cause of fatigue. Ensure you are drinking adequate amounts of clean water throughout the day. Electrolyte balance is also important for cellular function.

Mindful Movement

Incorporate regular physical activity that you enjoy. This could be brisk walking, dancing, swimming, or yoga. The key is consistency and finding movement that energizes rather than depletes you.

Nutrient Timing

Pay attention to when you eat. Consuming balanced meals and snacks can prevent blood sugar spikes and crashes that lead to fatigue. Prioritizing protein and healthy fats alongside complex carbohydrates can promote sustained energy release.

Connection and Social Well-being

Meaningful social connections have been shown to reduce stress and improve overall well-being, which indirectly supports energy levels. Feeling connected and supported combats feelings of isolation and burnout.

Debunking Common Energy Myths

Many misconceptions surround energy and fatigue. Let’s clarify some of them:

Myth vs. Fact

  • Myth: More Sleep Always Means More Energy.
    Fact: Sleep quality is more critical than quantity. Deep, restorative sleep is key, and oversleeping can sometimes lead to grogginess.
  • Myth: Sugary Foods Provide a Quick Energy Boost.
    Fact: While they offer a rapid spike, sugary foods lead to a subsequent crash, leaving you more fatigued than before.
  • Myth: Caffeine is the Best Way to Combat Fatigue.
    Fact: Caffeine can provide a temporary lift by blocking adenosine receptors, but it doesn’t create energy. Over-reliance can disrupt natural sleep patterns and lead to dependence.
  • Myth: If I Feel Tired, I Should Just Push Through It.
    Fact: Persistent fatigue is often a sign that your body needs rest, nutrients, or a change in habits. Ignoring it can lead to burnout and health issues.

Your Biohacking Action Plan: Start Today

Ready to take control of your energy? Here’s a simple checklist to get you started:

The ‘Start Today’ Checklist:

  • Morning Light Exposure: Upon waking, spend at least 10-15 minutes in natural sunlight.
  • Hydration Goal: Drink a large glass of water immediately after waking and aim for 8-10 glasses throughout the day.
  • Mindful Meal: Choose a breakfast rich in protein and healthy fats, avoiding refined sugars.
  • Movement Break: Incorporate a 15-minute walk or light stretching into your day.
  • Blue Light Reduction: After sunset, dim lights and reduce screen time or use blue-light blocking glasses.
  • Evening Wind-Down: Engage in a relaxing activity like reading, gentle stretching, or meditation for 30 minutes before bed.
  • Consistent Sleep Schedule: Aim to go to bed and wake up around the same time, even on weekends.

By implementing these strategies consistently, you can move beyond temporary energy fixes and cultivate a profound, sustainable vitality that empowers you to live your life to the fullest. Remember, biohacking is a journey of continuous learning and optimization, tailored to your unique physiology and lifestyle.

Fund Managers Boost BTC Exposure as Crypto Sentiment Rebounds: CoinShares

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Fund managers are warming back up to digital assets, with Bitcoin continuing to dominate allocation preferences even as broader crypto sentiment improves, according to a new survey by CoinShares.

The April survey gathered responses from 26 institutional investors overseeing a combined $1.3 trillion in assets under management. Allocations to digital assets remain relatively modest, at around 1%, reflecting what CoinShares described as “typical entry sizing” in the current de-risking environment.

“Bitcoin remains the digital asset with the most compelling growth outlook,” CoinShares head of research James Butterfill wrote in the report. Sentiment toward Ether (ETH) and Solana (SOL) also improved modestly compared with previous quarters.

According to the survey, around 32% of respondents have already invested in Bitcoin (BTC) and 25% have already allocated to Ether.

The findings suggest institutional investors are gradually increasing exposure to crypto amid improving market sentiment, growing adoption of exchange-traded funds (ETFs) and a more favorable regulatory backdrop.

At the same time, respondents identified internal restrictions and regulatory uncertainty as the main barriers preventing broader adoption. The survey also pointed to a shift away from “legacy altcoins” and toward newer decentralized finance protocols and emerging blockchain sectors.

Fund managers identified Bitcoin as having the strongest growth outlook among digital assets, followed by Ether and Solana. Source: CoinShares

Related: Bernstein cites $4T tokenized credit opportunity for Figure Technology stock

Institutional inflows continue to build as sentiment improves

The survey’s upbeat tone aligns with broader institutional flow trends. CoinShares data recently showed digital asset investment products recording several consecutive weeks of inflows, led primarily by Bitcoin demand.

Crypto exchange-traded products attracted $1.2 billion in inflows through April 27, marking the fourth straight week of gains and bringing total inflows during that stretch to $3.9 billion.

The momentum has extended into early May. US spot Bitcoin ETFs recorded nearly $1 billion in net inflows this week as BTC climbed back above $80,000, according to SoSoValue data.

Bitcoin ETF inflows have risen since last Friday. Source: SoSoValue

The inflow trend also aligns with a recent survey by Coinbase and EY-Parthenon, which found that 73% of institutional investors plan to increase their digital asset exposure this year, with most expecting crypto prices to rise over the next 12 months.

The launch of spot Bitcoin ETFs in the United States in January 2024 has been widely viewed as a turning point for institutional adoption. The ETF structure has also helped reduce operational friction for institutions by offering regulated exposure to Bitcoin without requiring direct custody of digital assets.

Related: Crypto Biz: Capital has no consensus

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.



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Crypto PACs Spend $7.2M to Support Candidates in 5 US States with Midterms Looming

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Political action committees (PACs) affiliated with the cryptocurrency company-backed Fairshake reported spending millions of dollars to support candidates in five races, with less than six months until US voters decide on their representatives in Congress.

According to filings with the Federal Election Commission this week, the Protect Progress PAC reported about a combined $1.6 million in expenditures for Jasmine Clark and Christian Menefee, Democrats running to represent Georgia’s 13th Congressional district and Texas’ 18th district, respectively. 

The reported media buys came before Clark will face a May 19 Democratic primary and Menefee a May 26 runoff against Representative Al Green, who is running for a 12th term in office. Protect Progress claimed that Green was “actively hostile towards a growing Texas crypto community,” pledging to spend $1.5 million to oppose his reelection to Congress.

Protect Progress, a Fairshake affiliate, typically focuses on Democratic candidates, while another affiliate, Defend American Jobs, supports Republicans. The Defend American Jobs PAC similarly reported spending $5.6 million on candidates in Georgia’s 1st and 14th districts, Nebraska’s 3rd district and US Senate races in Alabama and Kentucky. All four US states are scheduled to hold May primaries.

Related: Americans distrust crypto, AI as industry super PACs flood midterms, poll finds

Among Defend American Jobs’ expenditures, Andy Barr, running for the US Senate in Kentucky and currently a US House representative for the state’s 6th district, received the most support, with more than $3.5 million in media. Barr has made many public statements favoring pro-crypto policies while in Congress, and voted in favor of legislation, including the GENIUS Act and CLARITY Act.

Source: Andy Barr

Fairshake, which reported holding $193 million as of January, has already spent millions of dollars in an attempt to influence voters through the media in the 2026 primaries. The Defend American Jobs PAC spent about $514,000 on advertising supporting Republican James Baird’s reelection in Indiana, and poured millions into media for Texas and Illinois races this year.

Crypto market structure bill could impact candidates’ midterm chances

For many crypto-supporting lawmakers and industry leaders, the progress of a digital asset market structure bill, called the CLARITY Act, could prove to be a litmus test for the 2026 midterm elections. Fairshake and its affiliates spent more than $130 million on media to support or oppose candidates in 2024, potentially influencing voters and changing the makeup of the current Congress, which will decide crypto-related laws.

“I do think it is critically important that every single member of Congress have a position on crypto, it’s part of their election campaign and their platform, and voters are going to be paying attention to this,” Cody Carbone, CEO of crypto advocacy organization The Digital Chamber, told Cointelegraph.

Last week, lawmakers in the US Senate announced a compromise on stablecoin yield that could allow the CLARITY Act to move forward for markup in the Senate Banking Committee, whose approval is necessary before a full floor vote. As of Thursday, the committee had not scheduled a markup on the bill.

Magazine: Guide to the top and emerging global crypto hubs: Mid-2026

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.



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Bitcoin Exchange Reserves See $8B Outflow: Will BTC Rally Higher?

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Bitcoin (BTC) reserves on major crypto exchanges have dropped to their lowest level since 2023, with nearly 100,000 BTC withdrawn from Binance, OKX and Gemini in less than three months.

The outflows coincided with stronger demand from accumulator addresses, as the cohorts’ holdings have increased by 60.5% over the past two weeks. 

Bitcoin exchange reserves fall to two-year low

Crypto analyst Amr Taha noted that Bitcoin reserves on Binance, OKX and Gemini have declined sharply since February. Binance recorded the largest drawdown, with reserves dropping to nearly 620,000 BTC on May 7, down from roughly 670,000 BTC on Feb. 21. The decline pushed Binance’s holdings below levels last seen in December 2023.

OKX followed the same trend. Its Bitcoin reserve fell to around 102,000 BTC this week, from nearly 132,000 BTC on March 2. Gemini also posted steady outflows, sliding to 95,000 BTC from 114,800 BTC in early February.

BTC multi-exchange reserves. Source: CryptoQuant

Combined, the three exchanges recorded an outflow of nearly 100,000 BTC, valued at over $8 billion at current prices. 

Taha noted that a synchronized decline across multiple exchanges carries more weight than isolated outflows from a single exchange. Fewer coins on trading platforms can amplify the price reaction when strong spot demand returns.

The move coincides with a shrinking OTC balance. Lower OTC balances can reduce the amount of Bitcoin available for large private transactions outside exchanges. 

The latest 30-day OTC balance change showed a net decline of 24,940 BTC, while the same metric had risen to nearly 25,300 BTC on Feb. 8 after Bitcoin’s drop toward $60,000. The reversal shows that OTC supply inflows have slowed significantly since the February sell-off. 

Bitcoin total OTC desk balance. Source: CryptoQuant

Related: Bitcoin Bollinger Bands push key breakout as creator acts on positive signal

“Accumulator” demand rises as Binance buyers turn positive 

Long-term participants increased their Bitcoin accumulation during the latest recovery phase. CryptoQuant data shows demand from accumulator addresses climbed to 264,000 BTC on May 6, up from 164,440 BTC on April 23. The same metric fell to nearly 100,000 BTC on March 15, after peaking above 205,000 BTC on Feb. 5.

Bitcoin demand from accumulator addresses. Source: CryptoQuant

The increase in accumulation coincided with Bitcoin’s recovery toward $82,800, indicating stronger buying activity by long-term holders during the recent price advance. 

Derivatives activity also strengthened during the recent rally. Binance’s seven-day net taker volume moved from approximately -$1 billion (seller-dominated) in late March to +$2.63 billion (buyer-dominated) on Thursday.

Binance’s seven-day net taker volume for BTC. Source: CryptoQuant

Related: VanEck’s Sigel sees Bitcoin reaching $1M within five years

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.



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Coinbase Exec Predicts CLARITY Bill Markup in May

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The CLARITY crypto market structure bill could see a markup in the US Senate Banking Committee as early as next week, according to Kara Calvert, the vice president of US policy at crypto exchange Coinbase.

“My prediction is that we have a markup next week,” Calvert told the audience at the Consensus 2026 crypto industry conference in Miami, Florida.

She said that the bill needs at least 60 votes to pass in the Senate and that the CLARITY bill needs bipartisan support to become law. She said:

“That means you need Democrats. You need a bipartisan bill, and we have all been working really hard to make sure that bipartisanship holds. I think the big question is, how do these votes shape up over the next few days?”

Kara Calvert, pictured on the left, provides an update on the CLARITY market structure bill. Source: Consensus 2026

A HarrisX survey on Thursday revealed that there is strong, broad-based and consistent demand for clear federal rules. A 70% majority of voters say the US should already have passed clear cryptocurrency legislation, and 62% say it is important that the US set the global rules for digital finance.

The CLARITY bill stalled in January after Coinbase withdrew its support for the legislation, citing several concerns, including a lack of legal protections for open source software developers, a prohibition on stablecoin yield, and decentralized finance (DeFi) regulations. 

Related: US senator says crypto market structure vote may happen by August

Coherent tax policy remains a barrier to institutional adoption

A lack of coherent tax policies is the main “barrier” to institutional crypto adoption, Calvert said, adding that tax reform is a bigger issue for institutions than market structure legislation.

Many of these institutions just want to buy and hold cryptocurrencies or trade digital assets, but are burdened by tax compliance and reporting requirements, she said.

A HarrisX poll shows there is broad bipartisan support for passage of the CLARITY Act. Source: HarrisX

Tax reporting requirements under the current regulations mean the Internal Revenue Service (IRS) forces crypto exchanges to document every crypto transaction using 1099-DA forms, she added.

“We’re sending out millions of 1099-DA’s for things like $1 transactions — that makes zero sense,” Calvert said.

She added that she “hopes” tax reform legislation can advance through Congress in 2026, citing several crypto tax proposals submitted by US lawmakers, including the Digital Asset PARITY Act, introduced by Representatives Max Miller and Steven Horsford in March.

“I think that we will see action in the Senate. I think we will see legislation, probably in the next month or two, in the House,” she said.

Magazine: Will the CLARITY Act be good — or bad — for DeFi?

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.



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