TeraWulf's Q1 2026 Net Loss Surged to Over $427 Million, With AI Compute Revenue Beating Bitcoin Mining

The ICBA has urged regulators to reject Sony Bank's application for a national trust charter to issue stablecoins, citing concerns about regulatory loopholes and potential consumer harm. Sony Bank's proposed subsidiary, Connectia Trust, aims to provide digital asset custody services and issue dollar-pegged stablecoins.

Bitcoin and Ethereum funds experienced significant outflows, with BTC ETFs losing $867 million and ETH funds bleeding an additional $260 million. The market saw a drop in digital assets, with Bitcoin hitting a six-month low and Ethereum and Solana reaching four- and five-month lows.

Bitcoin's price dropped below $99,000, reflecting a broader risk-off sentiment in traditional markets. Long-term holders are accelerating their distribution, with 815,000 BTC sold in the past month, leading to increased selling pressure.

Canary Capital's XRP ETF (XRPC) had a strong debut with $58 million in first-day trading volume, surpassing expectations and becoming the year's top debut. Despite a 7.8% drop, the fund attracted significant interest from both retail and institutional investors.

Bitfarms will transition from Bitcoin mining to AI infrastructure, aiming to generate more income. The company's CEO announced plans to wind down Bitcoin operations by 2027 due to potential profitability in AI services. Despite a recent net loss, Bitfarms is confident in its ability to successfully pivot.

Emails from Jeffrey Epstein's estate reveal a meeting between Brock Pierce and Larry Summers at Epstein's townhouse. Summers expressed concerns about Bitcoin's impact on his reputation, while Pierce discussed being an active Bitcoin investor and the presence of "low-quality characters" in the space.

Cash App, a unit of Block, will introduce stablecoin payments powered by Solana, allowing users to send digital dollars quickly. The Lightning Network feature will also enable Bitcoin payments for businesses.

Bitcoin miners and other crypto-focused stocks experienced significant drops, with Bitdeer Technologies Group, Bitfarms, and Cipher Mining falling over 13%. Major indexes like Nasdaq and S&P 500 were also in the red, as investors moved away from tech stocks.

The Czech National Bank has invested in a test portfolio of digital assets, including Bitcoin, stablecoins, and tokenized bank deposits, to experiment with crypto adoption. Bank officials aim to understand purchasing, custodying, and managing digital assets, simulate crisis scenarios, and establish anti-money laundering protocols.

Despite Donald Trump's attempts to align himself with Bitcoin during his presidency, the asset's price has seen minimal change. On the first day of Trump's term, BTC traded at $101,275, and now it has fallen below the $99,000 mark.