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20 May 2026, 12:41
Bitcoin Price Prediction: South Carolina Moves Against CBDCs With Zero-Tax BTC Bill
South Carolina just became the most aggressive pro-Bitcoin state in America. Bitcoin may be down, its price prediction is also hitting a low, but with regulatory clarity and institutional adoption, BTC is coiling. Governor Henry McMaster signed Senate Bill S.163 into law on May 19, 2026, implementing a total ban on CBDCs, tax neutrality for crypto payments, and hard protections for miners and self-custody holders. The vote was resolved at 110-1 in the House, a genuine bipartisan conviction. The document states: AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING CHAPTER 47 TO TITLE 34 SO AS TO PROHIBIT A GOVERNING AUTHORITY FROM ACCEPTING OR REQUIRING PAYMENT USING CENTRAL BANK DIGITAL CURRENCY OR PARTICIPATING IN A TEST OF CENTRAL BANK DIGITAL CURRENCY; TO PERMIT INDIVIDUALS OR BUSINESSES USING DIGITAL CURRENCY FOR TRANSACTIONS; TO PROVIDE THAT DIGITAL ASSETS MAY NOT BE SINGLED OUT FOR DISPARATE TAX TREATMENT; TO PROVIDE THAT DIGITAL CURRENCY TRANSACTION MAY BE TAXED IF THE TAXATION IS THE SAME AS IF THE TRANSACTION USED UNITED STATES LEGAL TENDER; TO RESTRICT CERTAIN ACTIVITY FOR DIGITAL CURRENCY OPERATIONS THAT ARE ZONED FOR INDUSTRIAL USE; TO PROVIDE THAT DIGITAL ASSET MINING BUSINESS OPERATIONS SHALL NOT PLACE ANY ADDITIONAL STRESS ON THE ELECTRICAL GRID FOR WHICH THEY ARE CONNECTED AND TO PROVIDE THAT DIGITAL MINING BUSINESSES MUST PROVIDE CERTAIN INFORMATION TO THE PUBLIC SERVICE COMMISSION UPON REQUEST; TO PROVIDE THAT THOSE ENGAGED IN DIGITAL MINING OPERATIONS DO NOT HAVE TO OBTAIN CERTAIN LICENSES AND THAT THOSE WHO PROVIDE CERTAIN SERVICES RELATED TO DIGITAL MINING OR STAKING ARE NOT OFFERING A SECURITY; TO PROVIDE THAT THE ATTORNEY GENERAL CAN PROSECUTE AN INDIVIDUAL OR BUSINESS THAT FRAUDULENTLY CLAIM TO BE OFFERING DIGITAL ASSET MINING AS SERVICE OR STAKING AS A SERVICE; AND TO DEFINE NECESSARY TERMS. The law bars state agencies from accepting or testing any federal central bank digital currency, shields proof-of-work mining operations from discriminatory zoning and noise ordinances, and eliminates extra fees or levies on goods purchased with digital assets . A separate House Bill, H.4256, would additionally allow South Carolina’s treasurer to allocate up to 10% of unallocated state funds into Bitcoin as an inflation hedge, capped at 1,000,000 BTC. Discover: The best crypto to diversify your portfolio with Bitcoin Price Prediction: Reclaim $80,000 as State-Level Adoption Accelerates? At $77,000, Bitcoin is pulling back from recent highs but remains structurally elevated. The $75,000 level is the line that matters as a major psychological and technical support zone that needs to be defended to keep the uptrend intact. A daily close below that threshold would shift short-term momentum decisively bearish. The weekly 4.5% drop reads as profit-taking after a rally from $66,000 to $83,000, particularly given the macro and legislative tailwinds accumulating beneath the price. ETF inflows remain a persistent bid, and the state-level reserve demand would represent a structural buyer class that doesn’t sell on red candles. Bitcoin (BTC) 24h 7d 30d 1y All time If Bitcoin could hold $75,000 as support and legislative momentum from South Carolina accelerates copycat bills in other states, ETF inflows could push the price back through $80,000. However, a break below $75,000 on volume would open the door to the $72,000 range, likely triggering forced liquidations and headlines of ETF outflows. Regulatory clarity tends to compress volatility and attract institutional positioning, meaning South Carolina’s move may be more consequential for medium-term price structure than this week dip suggests. Discover: The best pre-launch token sales Bitcoin Hyper Targets Early-Mover Upside as Bitcoin Tries to Break Downtrend Bitcoin consolidating away from all-time highs is a familiar frustration: the macro thesis is right, the entry is not that cheap, and the asymmetric upside that early adopters captured has already been realized. That’s the gap a project like Bitcoin Hyper is targeting: infrastructure-layer exposure to Bitcoin’s growth cycle at presale prices, before exchange listing. Bitcoin Hyper ($HYPER) is positioning as the first Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, delivering sub-second finality and low-cost smart contract execution while inheriting Bitcoin’s security model. Hyper aims to break Bitcoin’s core limitations, like slow throughput, high fees, and zero programmability, without abandoning Bitcoin’s trust layer. The project has raised more than $32 million at a current presale price of just $0.0136 , with 35% APY staking available for early holders. Hyper also offers a Decentralized Canonical Bridge that handles BTC transfers across the Layer 2 for traders watching Bitcoin’s state-level policy cycle accelerate, Bitcoin Hyper represents early infrastructure-layer positioning that is worth researching. The post Bitcoin Price Prediction: South Carolina Moves Against CBDCs With Zero-Tax BTC Bill appeared first on Cryptonews .
20 May 2026, 12:39
Alibaba announces latest AI chip as China steps up push to dethrone Nvidia
Alibaba (HKG: 9988) has announced its latest AI chip Wednesday, stepping up China’s push to develop homegrown alternatives to dethrone Nvidia (NASDAQ: NVDA). This happened as Nvidia gaming chips, especially designed for the Chinese market, remain banned. The company says that Zhenwu M890 is three times faster than the previous model. It is made for the new category of AI agent software for complex tasks with multiple steps, performing without human direction. The chip facilitates the memory required and communication demands of the AI agent while processing a huge amount of data, while simultaneously coordinating with different systems. Two more chips are planned in the coming two years. V900 will be available in Q3 of 2027, while J900 will come in the same quarter of 2028. At the Alibaba Cloud Summit, the company also presented the Panjiu AL128 server system, which holds 128 accelerators in one rack. Chinese business customers can access it right away through Bailian, Alibaba Cloud’s platform for domestic models. T-Head has delivered more than 560,000 Zhenwu chips so far to over 400 customers, spanning 20 sectors, including car manufacturers and financial institutions. Alibaba (HKG: 9988) additionally unveiled Qwen 3.7-Max, its newest large language model designed for advanced programming and extended agent operations. The model maintains performance for up to 35 hours of continuous operation. Chip made for China now blocked by China The ban on Nvidia’s RTX 5090D V2 graphics card was announced Friday, according to FT. The same day, Huang was present in the country along with Trump for the diplomatic talks . The Nvidia chip ban adds another layer to the situation. Market sources told HKEPC that Chinese motherboard makers got notices from customs officials recently. The notices said the RTX 5090D V2 would not get approved for processing. Retailers trying to bring it into the country won’t get clearance or permission to sell it. This is actually China doing the blocking, not the United States. In fact, the U.S. has been making it easier for some Chinese companies to buy certain Nvidia AI chips. Multiple AI companies can now order up to 75,000 units of chips like the H200. Nvidia (NASDAQ: NVDA) created the RTX 5090D specifically for China last year, releasing it alongside the regular RTX 5090. But that first version got banned after the U.S. changed its rules. So Nvidia made a second version with even more limitations – the RTX 5090D V2. The biggest change was cutting the memory from 32 gigabytes down to 24 gigabytes. The memory pathway also got narrower. This meant people who wanted to use the card’s 32 gigabytes for AI work couldn’t do it anymore. Reports say many AI companies have been modifying RTX 5090D V2 cards to double their memory up to 48 gigabytes. Since this chip was made only for the Chinese market, it has nowhere else to go. Some think the cards might get smuggled to other countries through unofficial dealers or sold directly to AI companies through back channels. China’s biggest online seller, JD.com, recently had a special section for “AI GPUs” where it sold several Nvidia products that were supposed to be banned, including the RTX 5090D V2. The company took down that page after news outlets reported on it. Nvidia is also struggling to please gamers The situation makes things harder for Chinese gamers. They’ll now have to settle for the RTX 5080 as their best gaming option. China is putting more effort into homegrown chip companies to meet demand, but none of them match what Nvidia’s latest chips can do. Meanwhile, prices for available Nvidia and AMD products keep going up. Nvidia was also recently bashed for a new graphics system using AI to transform video games. The promise was cinematic quality of visuals as shown in the sample images, making old games like Resident Evil more detailed and realistically smooth. However, gamers thought it was overkill. Alex Donaldson said on Bluesky that even though the environments get a massive glow-up, the characters looked uncanny and weird. He also said it is a compromise on artistic expression. Jeff Talbot, a concept artist at Gunfire Games, posted : “This is NOT the direction games should be going in. Each DLSS 5 shot looked worse and had less character than the original.” Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
20 May 2026, 12:35
Jane Street Faces Insider Trading Allegations Over $192M UST Sale Before Terra Collapse
BitcoinWorld Jane Street Faces Insider Trading Allegations Over $192M UST Sale Before Terra Collapse A new legal filing has placed global quantitative trading firm Jane Street at the center of a controversy surrounding the collapse of the Terra ecosystem in May 2022. The Terraform Labs bankruptcy trustee has accused Jane Street of selling approximately $192 million worth of UST, the Terra ecosystem’s algorithmic stablecoin, shortly before its dramatic de-pegging event. The allegations, reported by CoinDesk, were detailed in a lawsuit filed in Manhattan federal court, claiming the firm acted on insider information. Allegations of Insider Knowledge The lawsuit alleges that Jane Street gained non-public information about Terra’s internal instability through a private Telegram chatroom named “Bryce’s Secret.” According to the filing, Bryce Pratt, a Jane Street employee at the time and a former intern at Terraform Labs, provided the firm with insights from his contacts within the project. This information allegedly prompted Jane Street to liquidate its entire holding of roughly 193 million UST on May 7, 2022, just hours before the stablecoin lost its dollar peg. Timing and Financial Details The filing highlights a particularly suspicious sequence of events. It claims that Jane Street sold $85 million in UST just nine minutes after Terraform Labs withdrew $150 million in liquidity from a Curve Finance (CRV) pool—a move that the trustee argues signaled internal distress. The trustee further alleges that Jane Street profited by approximately $134 million from a short position taken after the sale. The total value of the UST sold by Jane Street before the collapse is pegged at roughly $192 million. Jane Street’s Response Jane Street has strongly denied the allegations. In a statement, the firm asserted that the losses suffered by Terra and LUNA investors were the result of a multi-billion dollar fraud perpetrated by Terraform Labs’ management. The company has pledged to “vigorously defend” itself against what it described as baseless claims, framing the lawsuit as an attempt to shift blame away from the project’s founders. Broader Implications for the Crypto Industry This case adds another layer of legal scrutiny to the Terra collapse, one of the most catastrophic events in cryptocurrency history, which erased an estimated $40 billion in market value. The allegations against a major, established trading firm like Jane Street raise serious questions about information asymmetry and market manipulation in the largely unregulated crypto space. The outcome of this lawsuit could have significant implications for how insider trading laws are applied to digital assets and decentralized finance (DeFi) protocols. Conclusion The lawsuit against Jane Street is a developing story that underscores the ongoing legal and regulatory fallout from the Terra collapse. While the allegations are serious, they remain unproven, and Jane Street has signaled its intent to contest them in court. For investors and market observers, this case serves as a critical test of legal accountability in the cryptocurrency market. FAQs Q1: What is Jane Street accused of doing? The Terraform Labs bankruptcy trustee alleges that Jane Street used insider information to sell $192 million in UST and profit $134 million from a short position just before the Terra ecosystem collapsed in May 2022. Q2: What is the basis of the insider trading claim? The lawsuit claims that a Jane Street employee, Bryce Pratt, who was a former Terraform Labs intern, shared information from a private Telegram chatroom that alerted the firm to the project’s internal problems before the public knew. Q3: How has Jane Street responded to the allegations? Jane Street has denied the claims, stating that the losses were caused by fraud at Terraform Labs. The firm has said it will “vigorously defend” itself against what it calls baseless accusations. This post Jane Street Faces Insider Trading Allegations Over $192M UST Sale Before Terra Collapse first appeared on BitcoinWorld .
20 May 2026, 12:34
Bitcoin Rally Begins: Too Little, Too Late or the Real Turnaround?
Around 1% up on Wednesday and trading at $77,500, the $BTC price has finally entered a bullish phase. However, with a lot of resistance overhead can the bulls initiate a real turnaround or is this rally just going to be too little and too late? $BTC price finally beginning to rise - but how far will it go? Source: TradingView The 4-hour chart above tells us that the $BTC price is finally beginning to rise after a couple of days of sideways consolidation. That said, as can be seen, the price needs to break above the $77,400 horizontal resistance and force its way back into the descending channel . Even then, it’s probably not until the price holds above the $78,400 resistance that the bulls can start to breathe easier. With the US and Iran conflict possibly about to heat up again, this is likely to have an adverse effect on the U.S. stock market and by the same token Bitcoin. On the other hand, if a deal is reached, a surge up and out of the bear flag is certainly still a possibility. Two major levels of interest Source: TradingView The daily chart reveals that there are currently two major levels of interest for Bitcoin. To the upside, a breakout of the $80,000 horizontal level (and also the 200-day SMA ) would put the bulls firmly back in the driving seat. Conversely, a break below the major horizontal support at $76,000 could help to drag the $BTC price back into the bear market. At the bottom of the chart the Stochastic RSI indicator lines have hit bottom and are posturing a cross back up . Good news for the bulls? Yes, possibly, although if one looks left at the nosedive out of the previous bear flag, the indicator lines chopped along the lower limit of their range for some time until the bottom was finally reached. Might the same thing happen again? Strong rejection so far in 2-week chart Source: TradingView Zooming right out into the 2-week time frame it appears that the horizontal resistance shifts. As can be seen here, the major resistance level is at around $82,350. While the bulls will be happy to see the Stochastic RSI indicator lines climbing and signalling upside price momentum, the actual position for the bulls here does not look good. So far, the current 2-week candle is being strongly rejected from the major resistance. Unless there is a huge turnaround in the next 4 days, and that would be to the tune of an upside swing of more than $5,000, the bulls are staring down the barrel of more downside price action that could take $BTC back to $66,000. Once again investors will need to keep their eyes firmly on the $BTC price going into the close on Sunday. The price direction for the next few weeks, and even months, could depend upon the outcome. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
20 May 2026, 12:32
Tether Buys Out SoftBank Stake in Bitcoin Treasury Firm
Tether has bought out SoftBank Group Inc.’s ownership in the digital-asset treasury company Twenty One Capital Inc., adding to its control over the Bitcoin accumulator as it seeks to merge the firm with two other businesses.
20 May 2026, 12:31
Twenty One Capital stock surges on announcement of bitcoin-native public company formation
More on Twenty One Capital, Inc. Twenty One Capital: A Bitcoin Treasury Company Under Scrutiny Twenty One Capital sees lowest short interest in April among mid-mega cap firms Most and least shorted $2B+ financial stocks in early March Financial information for Twenty One Capital, Inc.
