FTX has launched legal action against NFT Stars Ltd. and KUROSEMI INC. (d/b/a Delysium) for failing to deliver tokens it is entitled to under contract. This step follows numerous attempts to resolve the issue without litigation. FTX plans to reach out to other token and coin issuers with outstanding assets and will file additional lawsuits against those who remain unresponsive. The company urges these parties to engage promptly to avoid further legal action.
As global crypto adoption accelerates, the United States remains hesitant. Despite rising interest in digital assets worldwide, U.S. institutions are still dancing around the idea of making Bitcoin part of a national reserve strategy.
And according to investor Kevin O’Leary, that dance won’t be ending any time soon.
“It Will Never Happen,” Says Kevin O’Leary
Shark Tank star and outspoken investor Kevin O’Leary isn’t buying the idea – at all. Speaking candidly, O’Leary dismissed the proposal of a U.S. Strategic Bitcoin Reserve, pointing to the lack of bipartisan support and calling out what he sees as self-interest from advocates like MicroStrategy’s Michael Saylor.
“Strategic Bitcoin Reserve will never happen. Michael Saylor is talking about his book.”
While he shot down the Bitcoin reserve notion, O’Leary did highlight the importance of stablecoin regulation. He predicted that forthcoming legislation would reduce transaction costs globally, potentially paving the way for widespread digital dollar adoption.
U.S. Institutions Continue to Shy Away
The Strategic Bitcoin Reserve Bill, introduced by Senator Cynthia Lummis, has sparked mixed reactions across party lines. While states like North Carolina have backed similar efforts, others – including Oklahoma – have firmly rejected them.
Economists remain divided. A recent University of Chicago survey found no consensus among experts regarding Bitcoin’s viability as a national reserve asset. The main concern? Bitcoin’s volatility and its uncertain role within traditional monetary frameworks.
Saylor and Scaramucci Push Back
Despite O’Leary’s skepticism, not everyone agrees. Anthony Scaramucci, managing partner at SkyBridge Capital, voiced support for the bill, arguing it could boost the U.S. economy.
He also echoed comments from tech entrepreneur David Sacks, who urged a bipartisan approach and warned that a Republican-only push might be reversed if political power shifts.
Michael Saylor shows support through action. His company, Strategy, recently added a jaw-dropping $180.3 million in Bitcoin, raising its total holdings to 555,450 BTC, with plans to accumulate even more. Saylor remains a vocal supporter of the reserve bill and sees Bitcoin as a cornerstone of future financial infrastructure.
The U.S. isn’t the only country wrestling with Bitcoin’s place in official reserves. The European Central Bank, under President Christine Lagarde, has clearly stated that Bitcoin won’t be part of its reserves anytime soon.
On the flip side, El Salvador has already integrated Bitcoin into its national holdings despite strong pushback from the IMF – highlighting the global split in digital asset policy.
For now, Bitcoin may be winning in the court of public interest, but whether it secures a seat at the national table remains a high-stakes waiting game.
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The post Kevin O’Leary Slams U.S. Bitcoin Reserve Push: “It Will Never Happen” appeared first on Coinpedia Fintech News
As global crypto adoption accelerates, the United States remains hesitant. Despite rising interest in digital assets worldwide, U.S. institutions are still dancing around the idea of making Bitcoin part of a national reserve strategy. And according to investor Kevin O’Leary, that dance won’t be ending any time soon. “It Will Never Happen,” Says Kevin O’Leary …
Solayer (LAYER) is under intense pressure after a sudden 45% crash wiped out weeks of bullish momentum. Once up 460% since February, the token trades below $1.70 as traders scramble to understand what triggered the collapse.
The altcoin lost nearly $350 million in market cap in this crash. With volatility rising and the long/short ratio now at 1.45, the market appears divided between those expecting a rebound and those bracing for further downside.
Solayer Loses Nearly $350 Million Market Cap – What’s Behind the Drop?
LAYER has plunged roughly 35% in just 24 hours, falling from nearly $3.10 to $1.90, leaving the community scrambling for answers. This sharp drop comes despite Solayer’s strong fundamentals—it’s the first hardware-accelerated blockchain designed to offload operations onto programmable chips, aiming for over 1 million TPS and 100 Gbps bandwidth.
The project also offers real-world utility through its Solayer Emerald Card, which allows users to spend USDC seamlessly via Visa, with support for Apple Pay and Google Pay.
From February 18 to May 5, LAYER surged 460%, making it one of the best-performing altcoins of the year—until the sudden crash disrupted momentum.
Right now, confusion reigns. Some blame market makers for triggering a cascade of liquidations, others accuse the founders of shady practices, while a few point to the daily 110,600 LAYER token unlocks.
However, those daily unlocks account for just $219,000 in value—hardly enough to justify a $250 million+ loss in market cap. What’s more concerning is the upcoming major unlock on May 11, when 26.5 million LAYER (worth about $51 million) will be released.
If market sentiment doesn’t recover before then, this influx of supply could intensify selling pressure and potentially push the price even lower.
LAYER Crash Deepens: $3.2 Million in Long Liquidations Fuel Panic
LAYER’s long/short ratio sat at 0.78 over the past 24 hours, with 56.14% of traders positioned short—reflecting rising bearish sentiment.
Around $3.2 million in long liquidations were triggered, more than double the $1.5 million in short liquidations. This forced selling likely accelerated the drop from $3.10 to $1.90, as liquidation cascades compounded the pressure.
Aggregated Long/Short Accounts Ratio AVG. Source: Coinalyze.
With the upcoming May 11 token unlock, the unwind of leveraged positions became a key driver of the crash.
While the long/short ratio has since flipped to 1.45—indicating that more traders are now positioning for a rebound—the lack of order book depth remains a concern. In such environments, price volatility can remain elevated regardless of whether sentiment shifts back to bullish.
Longs Pile In as LAYER Struggles Below $1.90
LAYER’s outlook remains highly uncertain as its price struggles to hold above $1.90 following a steep decline.
Traders and investors are still seeking clarity on the cause of the crash, while sentiment remains fragile ahead of the May 11 token unlock.
In this context, the current long/short ratio of 1.45 reveals an important shift—more traders are now betting on a rebound, with 59.2% of positions long versus 40.8% short.
This rising long bias may suggest that some believe the worst is over, especially after an aggressive selloff.
However, it also introduces new risk: if LAYER fails to recover and drops further, these newly opened long positions could be liquidated just like before—potentially setting off another wave of forced selling.
DeFi Development currently holds over 609k Solana with more than $107 million.
Following the announcement, DFDV stock rallied over 50% on Friday to trade at about $138.
DeFi Development Corp. (NASDAQ: DFDV), formerly known as Janover but shifted its focus solely on the Solana (SOL) network, announced a strategic partnership with the Bonk (BONK) memecoin project. According to the announcement, DeFi Development and Bonk memecoin will work together as a validator to operate a Solana node.
The two entities intend to share the rewards earned from running the Solana node. As a result, DeFi Development Corp will continue to accumulate more SOL coins. On the other end, BONK memecoin will earn more rewards in securing the Solana network and expand the use case for BONKSOL.
“This validator partnership is a natural next step in BONK’s mission to empower our community and accelerate the adoption of Solana,” Nom, Core Contributor at BONK, noted. “By teaming up with DeFi Dev Corp., we’re not only reinforcing the decentralized infrastructure of Solana but also creating a new standard for how community tokens can scale and sustain their ecosystems.”
Market Impact of Strategic Partnership Between Bonk and DeFi Corp
The strategic partnership between Bonk and DeFi Development Corp will play a crucial role in the long-term growth of the Solana network and the respective projects. As for the Solana network, more adoption by institutional investors will increase its overall liquidity and credibility amid the mainstream adoption of digital assets.
As for DeFi Development Corp, the shareholders will significantly benefit from the rewards of jointly running the Solana validator node. Furthermore, DeFi Development Corp has relentlessly accumulated more SOL coins to currently hold about 609,190 coins, worth about $107 million.
Following the announcement, DFDV stock rallied over 50 percent in the last 24 hours to trade at about $138.77 on Friday, May 16, during the mid-North American trading session.
The post Bonk Meme and DeFi Development Corp Announces Strategic Partnership to Jointly Run a Solana (SOL) Validator appeared first on Coinpedia Fintech News
DeFi Development currently holds over 609k Solana with more than $107 million. Following the announcement, DFDV stock rallied over 50% on Friday to trade at about $138. DeFi Development Corp. (NASDAQ: DFDV), formerly known as Janover but shifted its focus solely on the Solana (SOL) network, announced a strategic partnership with the Bonk (BONK) memecoin …
