Here is what happened yesterday in the crypto market:
Ether Clocks ‘Insane’ 20% Gain Post Pectra Upgrade
Ether (ETH) experienced its largest single-day gain since 2021, surging 20% following the Pectra upgrade. This surge suggests growing confidence in the protocol’s future, with traders increasing their ETH long positions, potentially marking a turning point for the asset.
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Germany Seizes $38M in Crypto Linked to Bybit Hack
German law enforcement has seized $38 million in cryptocurrency from eXch, a platform allegedly used to launder funds from the Bybit hack in 2025. This action highlights ongoing efforts to combat crypto-related financial crimes and recover stolen assets.
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Gemini to Launch Crypto Derivatives in Europe with New License
Gemini, founded by Cameron and Tyler Winklevoss, has secured a MiFID II license from Malta, enabling the exchange to offer crypto derivatives across the European Economic Area, marking a significant expansion of its services in the European market.
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Steak 'n Shake to Accept Bitcoin Payments
American fast-food chain Steak 'n Shake will begin accepting Bitcoin as payment at all locations starting May 16, signaling increasing mainstream adoption of cryptocurrency for everyday transactions.
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BlackRock and SEC Discuss ETP Staking and Tokenization
Wall Street giant BlackRock met with the SEC’s Crypto Task Force to discuss staking within crypto exchange-traded products (ETPs) and the tokenization of securities, indicating ongoing dialogue between traditional finance and regulatory bodies regarding crypto’s integration into mainstream markets.
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