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22 May 2026, 20:05

Cardano Founder Warns Research Labs Will Close If $46.8M Budget Proposal Fails

BitcoinWorld Cardano Founder Warns Research Labs Will Close If $46.8M Budget Proposal Fails Cardano founder Charles Hoskinson has issued a stark warning to the network’s community, stating that the failure of a critical governance budget vote would lead to the closure of the blockchain’s flagship development labs. The warning comes as a $46.8 million treasury proposal faces significant opposition and abstention from delegated representatives (DReps), leaving it well short of the required 67% approval threshold. Budget Vote Stalls Amid Governance Deadlock The budget proposal, submitted by Input Output (IO), the ecosystem’s primary development arm, is intended to fund research and infrastructure work for the Cardano network. According to Hoskinson, the funds are essential to retain the core developer team that has built the blockchain’s technology over the past decade. Without approval, he warned, the development labs would inevitably shut down, jeopardizing the network’s future capabilities. Hoskinson took to social media to emphasize that the situation is not about his personal involvement but about preserving the technological foundation of Cardano. He stressed that the budget is a necessary measure to protect the ecosystem’s long-term viability, regardless of leadership changes. What Is at Stake for Cardano The governance vote represents a pivotal moment for Cardano, which has prided itself on a decentralized decision-making process. The budget proposal is designed to fund ongoing development of core infrastructure, including scalability upgrades, smart contract improvements, and research into new consensus mechanisms. If rejected, the network could face a prolonged period of reduced development activity, potentially losing competitive ground to other blockchain platforms. The opposition and abstentions from DReps reflect a broader debate within the Cardano community about spending priorities and the role of Input Output. Some stakeholders have questioned the size of the budget and the transparency of its allocation, while others worry that rejecting the proposal could cripple the network’s progress. Broader Implications for Blockchain Governance The standoff in Cardano’s governance process highlights the challenges faced by decentralized networks in making collective financial decisions. Unlike traditional corporate structures, where budgets are approved by a board, blockchain projects rely on token holder votes, which can be slow, contentious, and vulnerable to low participation. The outcome of this vote could set a precedent for how other blockchain ecosystems handle treasury management and development funding. Conclusion As the deadline for the budget vote approaches, the Cardano community faces a critical choice: approve the $46.8 million proposal to sustain development or risk a significant slowdown in the network’s technological progress. The decision will test the resilience of Cardano’s governance model and its ability to balance decentralization with effective resource allocation. FAQs Q1: What is the $46.8 million budget proposal for Cardano? A1: The proposal is a treasury request from Input Output to fund research, infrastructure, and development work for the Cardano blockchain. It requires 67% approval from delegated representatives to pass. Q2: Why is Charles Hoskinson warning about lab closures? A2: Hoskinson stated that if the budget fails, Cardano will lose its core developer team, leading to the closure of its research and development labs. He emphasized that this would undermine the network’s technological foundation built over 10 years. Q3: What happens if the budget vote fails? A3: If the proposal does not reach the 67% approval quorum, Input Output may be forced to reduce or halt development activities. This could slow down network upgrades and affect Cardano’s competitiveness in the blockchain space. This post Cardano Founder Warns Research Labs Will Close If $46.8M Budget Proposal Fails first appeared on BitcoinWorld .

22 May 2026, 19:52

Bitcoin Price Crashes Below $76K as Kevin Warsh Sworn In as Next Fed Chair

Bitcoin’s seemingly stable and dull price moves over the past couple of days came to an end hours ago as the asset initiated a notable leg down that drove it to a new multi-week low of well under $76,000. The latest rejection came just hours after Kevin Warsh officially became the seventeenth Chairman of the United States Federal Reserve. He was sworn in on Friday at the White House for the four-year role. US President Donald Trump said he expects Warsh to “go down as one of the truly great Chairmen of the Federal Reserve that we have ever had, I really believe that.” The POTUS also added that Warsh will be “totally independent,” which was rather contradictory to some of his previous statements regarding the former Fed Chair, as Trump urged Powell countless times to cut the rates and called him different names in the past year and a half. “I will lead a reform-oriented Federal Reserve, learning from past successes and mistakes, both escaping static frameworks and models and upholding clear standards of integrity and performance,” Warsh said . As mentioned above, bitcoin’s price started to nosedive shortly after the ceremony concluded, and dropped from almost $78,000 to $75,500 minutes ago, which became its lowest level since April 30. Many altcoins have followed suit, with ETH dumping toward $2,050, XRP losing the $1.35 support, and SOL dropping below $85. The total value of wrecked positions is up to $485 million according to CoinGlass, with more than $430 million coming from longs. Liquidation Data on CoinGlass The post Bitcoin Price Crashes Below $76K as Kevin Warsh Sworn In as Next Fed Chair appeared first on CryptoPotato .

22 May 2026, 19:35

Euro Struggles Near 0.8650 Against Sterling Despite Positive German Data

BitcoinWorld Euro Struggles Near 0.8650 Against Sterling Despite Positive German Data The euro remained under pressure against the British pound on Tuesday, hovering near the 0.8650 mark even after Germany reported better-than-expected economic data. The single currency’s inability to gain traction highlights persistent concerns over the eurozone’s growth outlook and diverging monetary policy expectations between the European Central Bank and the Bank of England. German Data Fails to Lift the Euro Germany’s latest industrial production and trade figures came in above consensus forecasts, offering a rare bright spot for Europe’s largest economy. However, the positive data release failed to trigger a sustained recovery in the euro. Analysts noted that the market remains focused on structural headwinds facing the eurozone, including energy price sensitivity, weak domestic demand in key member states, and political uncertainty in France and Italy. “The market is looking through short-term data beats,” said a senior currency strategist at a London-based brokerage. “Until we see a clear and consistent improvement in the eurozone’s growth trajectory, the euro is likely to remain offered on rallies.” Sterling Supported by Rate Expectations The British pound has been a relative outperformer in recent weeks, supported by expectations that the Bank of England will maintain higher interest rates for longer than the ECB. UK inflation, while easing, remains sticky in the services sector, prompting hawkish commentary from several Monetary Policy Committee members. This has narrowed the interest rate differential in favor of sterling, making GBP-denominated assets more attractive to yield-seeking investors. The EUR/GBP pair has now traded below the 0.8700 level for several consecutive sessions, a threshold that had previously acted as support. Technical analysts are watching the 0.8620-0.8640 zone as the next key support area. A break below that range could open the door toward the 0.8550 region, a level not seen since mid-2022. Market Implications for Traders and Businesses For businesses with cross-border exposure between the UK and the eurozone, the current exchange rate environment presents both challenges and opportunities. UK exporters to the continent benefit from a stronger pound, which lowers the cost of imported raw materials priced in euros. Conversely, eurozone exporters to the UK face margin compression as their goods become more expensive in sterling terms. Importers and treasurers are advised to monitor upcoming ECB and Bank of England policy meetings closely. The ECB’s next decision is scheduled for mid-December, while the BoE meets in late December. Any shift in forward guidance could trigger sharp moves in the pair. Conclusion The euro’s inability to rally on positive German data underscores the depth of bearish sentiment surrounding the single currency. While the data provides some reassurance that the eurozone is not in a freefall, it is insufficient to alter the broader narrative of a struggling economy facing multiple headwinds. Sterling, meanwhile, continues to draw support from a more hawkish central bank outlook. The near-term bias for EUR/GBP remains tilted to the downside, with the 0.8620 level serving as a critical technical barrier. FAQs Q1: Why is the euro falling against the pound despite good German data? The market is focused on broader eurozone weakness, including sluggish growth in other member states, political risks, and expectations that the ECB will cut rates sooner than the Bank of England. One positive data point from Germany is not enough to reverse this sentiment. Q2: What is the next key level to watch in EUR/GBP? Traders are watching the 0.8620-0.8640 support zone. A break below that could lead to a move toward 0.8550. On the upside, resistance is seen near 0.8700 and then 0.8750. Q3: How does the EUR/GBP exchange rate affect UK consumers? A stronger pound makes imports from the eurozone cheaper, which can help lower prices on goods like European cars, wine, and machinery. However, UK exporters to the eurozone may see reduced competitiveness, which can impact jobs and profits in export-oriented sectors. This post Euro Struggles Near 0.8650 Against Sterling Despite Positive German Data first appeared on BitcoinWorld .

22 May 2026, 19:10

Silver Price Stays Range-Bound as RSI and MACD Signal Weakening Momentum

BitcoinWorld Silver Price Stays Range-Bound as RSI and MACD Signal Weakening Momentum Silver prices continue to trade within a narrow range, with technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) pointing to fading momentum. The XAG/USD pair has struggled to break out of its recent consolidation zone, leaving traders searching for the next catalyst. Technical Indicators Point to Stalled Momentum The daily chart for silver shows the RSI hovering near the 50-midline, a level often associated with indecision. A reading below 50 would suggest bearish momentum is building, while a move above 50 could signal renewed buying interest. Meanwhile, the MACD line remains flat and close to its signal line, indicating that neither bulls nor bears have seized control in the near term. This lack of directional conviction has kept XAG/USD trapped between support near $22.50 and resistance around $23.50 for several sessions. Volume has also tapered off, confirming the absence of strong participation from institutional or retail traders. Fundamental Drivers in Focus The precious metals market is currently caught between competing forces. On one hand, expectations that the Federal Reserve may keep interest rates higher for longer continue to pressure non-yielding assets like silver. On the other, persistent geopolitical uncertainty and concerns over global economic growth are providing a floor for safe-haven demand. Industrial demand for silver, particularly from the solar energy and electronics sectors, remains a supportive long-term factor. However, near-term price action is being dictated more by macro sentiment and U.S. dollar strength than by supply-demand fundamentals. What Traders Should Watch Key levels to monitor include the $22.50 support zone. A daily close below this level could open the door for a test of $22.00 or lower. On the upside, a sustained move above $23.50 would be the first sign that momentum is shifting back in favor of buyers. Traders should also keep an eye on upcoming U.S. economic data releases, particularly inflation and employment reports, which could influence the dollar and precious metals. Conclusion Silver remains in a technical holding pattern as RSI and MACD indicators confirm a lack of strong momentum. Until a clear catalyst emerges — whether from shifts in Federal Reserve policy, a change in industrial demand outlook, or a geopolitical event — XAG/USD is likely to continue its range-bound behavior. Traders should exercise patience and watch for a confirmed breakout or breakdown before committing to directional positions. FAQs Q1: What does a flat RSI mean for silver prices? A flat RSI near the 50 level typically indicates that buying and selling pressure are balanced, suggesting the market is indecisive and likely to remain range-bound until new information emerges. Q2: Why is silver not breaking out despite safe-haven demand? While geopolitical risks support safe-haven buying, the stronger influence currently is the high-interest-rate environment, which increases the opportunity cost of holding non-yielding assets like silver. Q3: What are the key support and resistance levels for XAG/USD? The immediate support is near $22.50, with a break below that potentially targeting $22.00. Resistance is at $23.50, and a close above that level could signal a shift toward bullish momentum. This post Silver Price Stays Range-Bound as RSI and MACD Signal Weakening Momentum first appeared on BitcoinWorld .

22 May 2026, 19:00

How Donald Trump’s Order On Dollar Payment Rails Could Be A Game-Changer For Ripple’s XRP

Ripple and XRP could be among the biggest winners of a new executive order signed by US President Donald Trump this week. The order directs federal regulators to review whether crypto companies can access the country’s dollar payment system. This move could be a game-changer for XRP, as it would determine how digital asset firms operate in the US and could establish the cryptocurrency as a bridge currency through Ripple. Trump Orders Review Of US Dollar Payment Rails For Crypto Firms On May 19, Trump signed an executive order directing the federal government to review its regulations and policies. The order looks at whether fintech and crypto firms should have greater access to the country’s dollar payment infrastructure . According to the official White House website, the heads of each federal financial regulator must review their existing laws and practices within 90 days. Trump has mandated these regulators to find rules that may be blocking fintech and crypto firms from partnering with federally regulated institutions such as banks, credit unions, and investment advisers. Regulators are also expected to sift through policies that make it harder for these firms to get national bank charters , insurance, and other federal authorizations. Furthermore, Trump has also asked the Federal Reserve Board (FRB) to take a closer look at who can access the government’s payment accounts and services . The US President has given the Fed 120 days to send a full report covering these findings. Within that report, the regulator must also review whether it has the legal authority to give these crypto companies direct access to its payment system and what risks may come with doing so. Implications Of Trump’s Order On Ripple’s XRP Trump’s recently signed executive order could be one of the most important developments for Ripple and XRP in recent years. Ripple has long positioned XRP as a tool for fast and low-cost cross-border payments , often targeting banks and financial institutions as its core customers. However, one major barrier hindering Ripple’s growth was limited access to the Federal Reserve’s payment infrastructure. Under current Fed rules, direct access to Reserve Bank payment accounts is limited to depository institutions like traditional banks. This has pushed crypto firms, including Kraken, Coinbase, Circle, Anchorage, Paxos, and BitGo, to pursue national trust bank charters just to qualify for this kind of access. Moreover, the regulator only recently approved Kraken’s access to a Fed master account . Ripple itself has been working toward a national bank charter to overcome this limitation. The crypto firm was recently granted conditional approval for a national bank charter by the Office of the Comptroller of the Currency (OCC), expanding its role in the US banking system. Should the Fed open direct access to digital asset firms, it could be a game-changer for XRP. Ripple could potentially connect its core technology straight into the US dollar payment system. This direct link could allow XRP to serve as a bridge asset in real-time dollar settlements , driving greater demand for the cryptocurrency. For XRP holders and investors, this shift in policy direction signals that the US may finally be ready to welcome Ripple and the payment infrastructure it has been building for over a decade.

22 May 2026, 18:21

Hackathon Champion To Failed Project In 10 Days! GSD Founder Allegedly Rugs Just After Receiving his $100K Grant

What started as a landmark moment for an upstart AI-centric crypto project quickly descended into one of the more baffling incidents in hackathon history. A project called GSD, a recent winner of the $100K prize for first place at the Bags Hackathon, which took place just days ago, has been now accused of purposely pulling off a rug pull that destroyed confidence overnight. The project’s founder, known online as official_taches, took to the internet to announce proudly that they had taken first prize at the event on May 11, 2026. Pioneering projects were funded with grants between $10,000 to $100,000 in The Bags Hackathon, a grassroots initiative that recently included a fundraising milestone with approximately 1 million prize pool. GSD positions itself as an “agentic operating system for AI from the start,” a description that grabbed headlines almost immediately alongside the rapid blurring between artificial intelligence and real compute blockchain infrastructure. The project also boasted significant adoption with more than 62,900 GitHub stars, which gave the project seemingly legitimate credibility within developer circles. BAGS hackathon winner with the $100k grant just rugged, only 10 days after winning. They took the treasury, deleted everything, and blamed AI. “GSD Cloud is obsolete. Everything I’ve worked on for months has now been absorbed directly into tools like the Codex and Claude Code… pic.twitter.com/x33MjDwHJK — Crypto Banter (@crypto_banter) May 22, 2026 A Shocking Departure Raises Eyebrows Just ten days after the christening of their issue, the hideous and alarming turn of events. Reports surfaced on May 22, alleging that the founder had arguably sold most of his tokens in regards to GSD holdings and emptied project-controlled cash. Several sources report that close to $500,000 was siphoned off using a combination of treasury requests and the sale of tokens. It was this sudden movement that triggered a protracted sale of the token which is alleged to have wiped out as much as 90% of the value for GSD in just two days. Compounding the concern, the founder had his social media accounts and profiles deleted or placed in private immediately after these transactions. That sequence of events has led a number of observers to characterize the episode as one of those familiar “rug pulls,” in which insiders take off for greener pastures at their community’s expense. NEW: @official_taches , winner of the @BagsApp hackathon and founder of $GSD , allegedly rugged the project after pulling nearly $500K from liquidity and selling his holdings. The token later crashed 90%, while his X account was deleted shortly after. pic.twitter.com/EbNzdvwr9i — SolanaFloor (@SolanaFloor) May 22, 2026 Developer Attributes Collapse To AI Disruption The founder reportedly tried to explain the sudden closure by citing fast-moving advances in AI, an unexpected turn of events. A statement made by a representative of the developer claims that GSD is now outdated due to the arrival of OpenAI Codex and Claude Code. “GSD Cloud is obsolete. Months of effort on my part has gone directly into the Codex and Claude Code apps. The statement said, “You can’t beat multi billion dollar ais software co? This reasoning is met with almost universal disbelief. But critics say that this lack of competitive pressure does not justify the slaughtering of treasury assets or the flight of leadership from a project. This has garnered many readers, who see it as an attempt to distance the regime from culpability where actions seem premeditated. Timeline Shows Fast Transition From Expanding To Exiting A timeline provides an in-depth account of how quickly things turned south. May 11, GSD was capitalizing on its hackathon win and marketing the project, launching token contracts on Solana & publishing strategic accomplishments. But just days later, there were signs of instability. Then, by May 22nd things changed utterly: the founder was said to start dumping holdings, draining liquidity and cancelling online presence for the project. The rapid shift from all the celebratory public attention to blatantly disregarding their plans questions if the rug pull was planned or an attempt at reaction management. So you’re telling me that GSD May 11, 2026 – wins first prize at the Bags Hackathon – founder publicly celebrates it – posts the Solana CA for the token GSD – project claims 62.9K+ GitHub stars marketed as “agentic operating systems for AI development” Bags Hackathon ~$1M… pic.twitter.com/4UpkKJkuK0 — StarPlatinum (@StarPlatinum_) May 22, 2026 Implications For Hackathons And Pre-Seed/Seed Stage Fundraising The GSD incident is about to have serious consequences throughout the whole hackathon ecosystem. Initiatives like the Bags Hackathon seek to discover, support and reward promising ideas at very early stages of development with significant funding. However this model is fraught with risk. Projects with funding links to potential, versus proven execution, may not be invested in the governance and accountability structures needed for investor and user protection. The interaction of grant funding, token issuance and rapid market exposure led to a situation where a single person could leverage the projected risk/reward by being able to strongly influence not only the future direction of the project but also the financial resources it had at its disposal. As a result, there could be increased pressure on organizers and participants to adopt stricter vetting processes, greater transparency requirements, and more rigorous post-grant oversight. Community Response And Erosion Of Confidence The incident has drawn a furious reaction from the crypto community. The founder’s actions drew ire, but many users expressed being frustrated with the broader ecosystem that continues to allow this. The losses are financial and mental, especially for investors who joined the GSD ecosystem after it excelled at a recent hackathon. The rapid downfall bolsters an enduring worry in crypto: that even projects with the strongest foundations are far more tenuous than they may seem. Simultaneously, the event has highlighted the vital role of due diligence, even more so for early-stage businesses where there is much information asymmetry and little accountability. In either case, the GSD is not only a series of discussions-ends in themselves today; they are likely to warn people about both what works at the intersection of AI innovation and decentralized finance. A Harsh Reminder Of Market Realities The GSD’s rise and fall is a love letter to the deep-fried landscape of modern crypto. In just ten days a project had turned from triumph and fundraising to scandal and wreckage, with might-have-beens hanging in the air, weighed down by a high toll. The founder’s justification cites external pressures from the rapid pace of AI make-up, but going about this in the fashion that they did has pushed any technical resolution right into the shadows. The incident offers a very simple character for many onlookers: that in quick-moving markets belief may be constructed through the years, and destroyed simply as fast. The challenge now is to sustain this linguistic ecosystem by allowing innovative start-ups to flourish but with the risk mitigation safeguards that can support them. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !