Bitcoin panic hits as Hayes buys

May 13, 2026

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Nigel Farage’s crypto ties face fresh UK scrutiny

Key points:

  • Nigel Farage is facing a parliamentary inquiry over a £5 million gift from crypto billionaire Christopher Harborne that was not registered after he entered Parliament.

  • The case has renewed concerns around crypto-linked political funding in the UK as lawmakers push for tighter oversight.

News - Nigel Farage is under investigation by the UK Parliamentary Standards Commissioner over whether he failed to declare a £5 million gift from billionaire crypto investor Christopher Harborne after becoming an MP in 2024.

Farage insists the money was a “personal, unconditional gift” meant to fund private security following threats against him, including an arson attack on his home. Since the gift was made before he entered Parliament, he argues there was no obligation to register it.

Critics, however, say parliamentary rules require MPs to disclose certain financial interests and benefits received within the year before taking office if there is uncertainty over their purpose.

Crypto funding debate intensifies - The controversy has added momentum to wider scrutiny of crypto-linked political donations in Britain. Harborne, a major Tether shareholder with significant Ethereum holdings, has donated more than £22 million to Reform UK over the years, including record contributions in 2025.

The inquiry also follows separate criticism of Farage’s ties to Stack BTC, where he disclosed a $286,000 investment and a 6.31% stake through his media company, Thorn In The Side.

Meanwhile, UK lawmakers continue debating stricter rules around crypto donations amid concerns over transparency and foreign influence.

Arthur Hayes calls Bitcoin dip as panic hits $80K

Key points:

  • Bitcoin slipped below $80,000 after hot U.S. producer inflation revived fears of tighter financial conditions.

  • Arthur Hayes and Davinci Jeremie pushed back against the panic, framing the sell-off as a buying opportunity rather than a cycle-ending top.

News - Bitcoin’s fall below $80,000 has rattled traders, but Arthur Hayes is not treating the move like a warning sign.

The former BitMEX chief said he is buying the dip as rising 10-year Treasury yields, hot inflation data, and renewed U.S.-China trade pressure weigh on risk assets. April’s U.S. Producer Price Index rose 1.4% month-over-month, the sharpest increase since 2022, following a strong CPI print earlier in the week.

The data reduced expectations for a near-term Federal Reserve rate cut, while rising oil prices tied to the Iran conflict added another inflation risk for markets.

Hayes sees panic, not a peak - Hayes argued that pressure from Treasury yields could push President Donald Trump toward a China trade deal before traditional markets face deeper stress.

He also kept his broader bullish view intact, saying war spending, AI infrastructure demand, and future fiat expansion could create a supportive backdrop for crypto. Hayes has called Bitcoin retaking its $126,000 peak a “foregone conclusion” as global liquidity and money creation continue expanding.

Traders focus on the $82K trigger - Davinci Jeremie echoed the buy-the-dip view, calling the pullback another shakeout similar to previous Bitcoin cycles.

For traders, the immediate test is whether BTC can reclaim the $82,000 region. Analysts said that move could reopen the path toward $85,000, $90,000, and possibly $100,000, while historical drawdown data still points to bullish odds for a new all-time high within a year.

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Ethereum targets blind signing as Wall Street loads up on ETH

Key points:

  • Ethereum developers launched “Clear Signing” to tackle blind-signing attacks linked to billions in crypto losses, including the Bybit hack.

  • Institutional momentum around Ethereum is also building, with Jane Street increasing Ether ETF exposure alongside new tokenized fund activity from JPMorgan and BlackRock.

News - Ethereum is attempting to solve one of crypto’s most dangerous wallet vulnerabilities just as institutional positioning around ETH strengthens.

The Ethereum Foundation and several major wallet providers unveiled “Clear Signing,” a framework designed to replace unreadable wallet approvals with human-readable transaction details. The initiative targets blind signing, a long-standing weakness tied to major exploits, including the $1.4 billion Bybit hack.

The rollout is being backed by Ledger, Trezor, MetaMask, WalletConnect, Fireblocks, and several other crypto platforms through the ERC-7730 standard and Ethereum’s Trillion Dollar Security Initiative.

Institutions deepen Ethereum exposure - The security push is landing alongside growing institutional positioning around Ethereum.

Jane Street increased its exposure to Ether ETFs in Q1 2026 while sharply reducing several Bitcoin ETF holdings, adding roughly $82 million across BlackRock and Fidelity Ether funds during the quarter.

At the same time, JPMorgan is preparing a tokenized money market fund on Ethereum, while BlackRock has filed tokenized Treasury liquidity products using Ethereum’s ERC-20 infrastructure.

Meanwhile, analysts said ETH could gain stronger upside momentum if it breaks above the $2,400 to $2,600 range, with additional optimism building around tokenized real-world assets and the proposed CLARITY Act.

CLARITY Act faces amendment blitz before Senate markup

Key points:

  • Senators filed more than 100 amendments to the CLARITY Act ahead of Thursday’s Senate Banking Committee vote.

  • Stablecoin yield rules, DeFi protections, and crypto ethics provisions have become the bill’s main flashpoints.

News - The CLARITY Act is entering a critical Senate showdown as lawmakers push dozens of proposed changes to the crypto market structure bill before Thursday’s markup session.

The Senate Banking Committee released the bill’s 309-page draft earlier this week, with amendments quickly piling up from both parties. Senator Elizabeth Warren alone reportedly submitted more than 40 proposals targeting sections tied to crypto oversight, Fed access, and ethics rules.

The legislation would divide crypto oversight between the SEC and CFTC, classify most digital assets as commodities, and shield certain DeFi developers from money transmitter requirements if they do not control user funds.

Stablecoin and ethics battle escalates - Several Democratic senators are seeking tighter restrictions on stablecoin yields, while others want rules preventing presidents, lawmakers, and senior officials from owning or promoting crypto businesses.

Ethics provisions tied to President Donald Trump’s family crypto dealings remain one of the biggest sticking points, with some Democrats warning the bill may not secure enough Senate support without them.

Meanwhile, lobbying pressure continues building ahead of the vote. The American Bankers Association reportedly sent more than 8,000 letters to Senate offices over stablecoin yield concerns, while Coinbase CEO Brian Armstrong publicly urged lawmakers to advance the bill.

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Did you know?

  • The SEC’s crypto rulebook is starting to sort tokens by function: In March 2026, the SEC outlined a taxonomy covering categories such as digital commodities, digital collectibles, digital tools, stablecoins, and digital securities, marking a clearer attempt to separate token types under federal securities law.

  • Ethereum’s blob upgrade is already reshaping L2 scaling: Ethereum’s Fusaka upgrade went live in December 2025 with PeerDAS, a data availability feature designed to help rollups scale more efficiently without requiring every node to download all blob data.

  • The FBI has started warning crypto scam victims before the damage is done: Through Operation Level Up, the FBI says it has notified 8,103 potential victims of cryptocurrency investment fraud, with 77% unaware they were being scammed at the time.

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Top 3 coins of the day

DeXe (DEXE)

Key points:

  • DEXE hovered near $13 after extending its rebound from the early-May low around the $9.8-$10 region on the 4-hour chart.

  • The Squeeze Momentum Indicator stayed in positive territory, while moderate volume activity pointed to steady accumulation rather than aggressive breakout trading.

What you should know:

DEXE continued stabilizing after buyers defended its broader recovery structure during the recent correction phase. The latest move appeared largely driven by organic accumulation and improving sentiment across governance-focused crypto projects rather than a single major ecosystem announcement or partnership catalyst.

On the technical side, the Higher High Lower Low structure shifted back into a constructive pattern as the token printed fresh higher lows following its early-May bottom. Meanwhile, the Squeeze Momentum histogram remained green, although momentum growth slowed compared to the initial rebound phase. Volume also stayed relatively controlled throughout the recovery, suggesting buyers were gradually rebuilding positions near the $12.3-$12.5 support area instead of chasing a short-term speculative spike.

BNB (BNB)

Key points:

  • BNB traded near $671 after briefly testing the $680-$683 resistance zone during its latest recovery leg on the 4-hour chart.

  • The Parabolic SAR maintained a bullish structure, while the Stochastic RSI stayed elevated near the upper range despite momentum cooling around resistance.

What you should know:

BNB maintained relative strength this week as investors reacted positively to the BNB Chain’s recently completed Fermi hard fork, which reduced block times to roughly 0.45 seconds and improved transaction efficiency across the network. Market sentiment also stayed supported by growing institutional interest tied to spot BNB ETF applications reportedly submitted by firms including Grayscale and VanEck.

At the same time, BNB’s latest quarterly token burn removed more than 2 million coins from circulation, reinforcing the asset’s deflationary narrative during the ongoing rally. On the technical side, the Parabolic SAR dots continued tracking below price despite the rejection near $680, while the Stochastic RSI remained elevated after rebounding from earlier oversold conditions. The latest three red candles hinted at short-term profit-taking, although selling volume remained relatively controlled above the $650-$655 support zone.

Injective (INJ)

Key points:

  • INJ rallied toward the $6 region after surging sharply from the early-May base near $3.6 on the 4-hour chart.

  • The DMI setup remained strongly bullish as the +DI stayed far above the -DI, while rising ADX readings near 65 reflected strengthening trend momentum.

What you should know:

Injective attracted aggressive buying interest after Circle’s native USDC and Cross-Chain Transfer Protocol integrations went live on the network, strengthening its role as a stablecoin liquidity hub within the Cosmos ecosystem. Momentum also received an additional boost from Binance US confirming its upcoming INJ listing, which increased speculative demand ahead of trading activation.

Technically, the Higher High Lower Low structure remained bullish as INJ continued printing fresh higher highs throughout May’s rally. The DMI setup also stayed heavily buyer-dominated, with the +DI holding above the -DI while the ADX climbed near 65, reflecting unusually strong trend momentum. However, the latest red candle near the $6-$6.2 zone hinted at early profit-taking after the vertical breakout, even as volume remained elevated during the move.

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