Cryptocurrency markets saw a minor decline this week, but investor morale remained high amid Wall Street’s growing cryptocurrency adoption and continued crypto accumulation from leading treasury companies.

Bitmine, the world’s largest corporate ETH holder, bought another 26,000 ETH this week and reaffirmed its target of acquiring 5% of the entire Ether supply before the end of 2026.

Wall Street giants have also continued to venture into the crypto industry, as $12 trillion brokerage giant Charles Schwab launches Bitcoin and Ether trading for millions of retail investors.

Meanwhile, the fight over the landmark crypto market structure bill continues, after US 🇺🇸 senators filed over 100 amendments to the Clarity Act, which is finally heading into markup on Thursday, May 13.

Lastly, stablecoin issuer Circle’s stock soared by 15% within a single day, after the stablecoin giant reported upbeat earnings results and a $222 million investment in its ARC token, showing more institutional engagement for the Web3 industry 📈.

In this week’s CoinStats Scoop, you’ll find:

📊 Crypto Market Analysis And The Most Important News In Web3

💎 Bitmine To Acquire 5% of All Ether Supply by the End of 2026

📈 Circle Stock Soars 15% Following Earnings, $222 Million ARC Token Raise

🏛️ Senate Banking Committee Files 100 Amendments Ahead of Clarity Act Markup

💳 Charles Schwab Launches Crypto Trading For Millions of Retail Investors

🔮 Analysis And Key Events That Will Shape The Crypto Market Next Week

Bitmine To Acquire 5% Of All Ether Supply By The End Of 2026 💎

Bitmine Immersion Technologies, the largest publicly-traded Ether holder, reaffirmed plans that it is on track to fulfill its corporate goal of accumulating 5% of the total Ether supply before the end of 2026 🎯.

Despite slowing its weekly Ether purchases from about 100,000 ETH to 26,659 ETH, Bitmine said that it was still on track to amass 5% of ETH’s supply by December. The company is currently 86% towards its corporate target, following the acquisitions made during the past 11 months.

“’Crypto spring’ has commenced, and we wanted to highlight the importance of owning ETH as a source of diversification, and the likely drivers of this coming ‘crypto bull’ cycle,” commented Bitmine chairman Thomas Lee:

✍️ “Among the key future drivers for Ethereum, the two primary are Wall Street’s move to tokenization and agentic AI. If ETH closes above $2,100 at the end of May 2026, this would be the third consecutive monthly gain - this has never been seen in a crypto bear market. Thus, a close above $2,100 would validate that ‘crypto spring’ has arrived.”

The statement comes as a solid bullish signal for investors, underscoring the largest corporate holder’s commitment to amass more of the Ether supply during the crypto market downturn 🐂.

Bitmine has acquired over 1 million ETH tokens since the beginning of 2026 and currently holds over 4.3% of the total Ether supply. Still, the slowed accumulation may also mean that the company is leaving room for another potential leg down in the second half of the year, which may present more attractive buying opportunities.

Senate Banking Committee Files 100 Amendments Ahead of Clarity Act Markup 🏛️

United States senators filed over 100 new amendments, illustrating the heated debate around the US crypto market structure bill heading into markup later this week 🇺🇸.

Members of the US Senate Banking Committee filed 100 amendments to the Clarity Act, mostly related to stablecoin yield, software developers and blockchain ethics, according to a leaked list obtained by Politico.

Republicans are only seeking slight adjustments, with the majority of the amendments proposed by Democratic senators. It is still unclear what the specific details of each amendment are, but the banking committee has raised previous concerns about the risks of stablecoin yields to bank deposits and concerns tied to crypto developer protections.

The over 100 amendments signal a heated incoming debate at the Clarity Act’s markup, scheduled for Thursday, May 14. Provided that the two parties can agree, the bill would finally advance to the Senate floor.

The Clarity Act is among the most anticipated bills, introducing the first crypto market structure framework in the United States. It also seeks to transfer the crypto industry’s regulatory jurisdictions from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC).

However, the bill has previously stalled due to the banking committee’s concerns over stablecoin yield, which they claimed would make bank interest-bearing accounts less relevant and reduce bank deposits 🚧.

A prior version of the bill, released on Monday, included a ban on third-party platforms such as crypto exchanges offering yield on stablecoins in a way “functionally equivalent” to interest-bearing bank deposits.

Circle Stock Soars 15% Following Earnings, $222 Million ARC Token Raise 📈

Stablecoin issuer Circle’s stock market shares logged a significant rally on Monday, bolstered by optimistic earnings results and the disclosure that a major crypto venture capital fund had bought $222 million worth of its ARC token.

Circle (CRCL) stock surged 15% on Monday, May 11, leading to a 49% gain during the past month, Yahoo Finance data shows 📊.

The surge occurred after the stablecoin issuer’s upbeat earnings results, which reported a 28% rise in USDC stablecoin circulation, reaching $77 billion during the first quarter of 2026. Circle’s Q1 revenue also rose by 20% to $694 million, along with a 24% increase in adjusted earnings to $151 million.

The earnings also disclosed that Circle raised $222 million in a presale of its ARC blockchain utility token, which was designated to support transactions on the network, leading to the project’s $3 billion valuation 🪙.

The stock’s rally is the latest sign of Wall Street’s growing appetite for stablecoins, which are increasingly seen as faster and more cost-efficient alternatives for cross-border transfers, traditional bank wires and even collateral assets.

Charles Schwab Launches Crypto Trading For Millions Of Retail Investors 💳

United States brokerage and asset management giant Charles Schwab has launched cryptocurrency trading for Bitcoin and Ether, highlighting Wall Street’s increasing interest in the digital asset space.

Charles Schwab has launched spot Bitcoin and Ether trading to its first group of retail investor clients, the brokerage announced in a May 12 X post, adding that “the first group of clients can trade Bitcoin and Ethereum at Schwab, right alongside their other investments” 🔓.

The launch of the new spot trading products may bring significant new capital for BTC and ETH, considering that Charles Schwab serves over 46 million retail investors and manages over $12 trillion in assets. Schwab’s retail clients can already gain exposure to crypto ETFs and some digital asset funds.

📣 The move is the latest testament of the growing interest in cryptocurrency offerings from large Wall Street giants seeking to launch their own digital asset offerings. At 75 bps, or 0.75%, Charles Schwab’s crypto trading fees are more expensive compared to cryptocurrency exchanges Kraken and Coinbase.

Other Wall Street firms that have recently ventured into crypto trading products include Morgan Stanley and Goldman Sachs.

Market Overview: Bitcoin Dips Below $80K As Analysts Predict Another Leg Down 📉

Cryptocurrency markets staged a retracement this week, with Bitcoin falling below the key $80,000 psychological support level, data from CoinStats shows.

The retracement occurred after investors digested renewed threats from US President Donald Trump, who warned that Iran must hurry to make a deal or face retaliatory attacks. However, peace negotiations were seemingly falling apart after reports of Israeli military strikes killing dozens of victims in Lebanon 🇱🇧.

Looking at on-chain signals, the profit levels of Bitcoin long-term holders (LTHs) signal a deeper bear market retracement, warned analytics provider Glassnode:

✍️ “LTH Relative Unrealized Loss peaked at 15% in early April. In prior deep bear markets, this metric exceeded 75%. Long-term holders have so far experienced a fraction of the stress seen at historical cycle lows, suggesting recent drawdown, while significant, did not test their conviction at the same depth.”

However, others are seeing the current retracement as a short-term de-risking move among leveraged traders. 🔍

The move may also have been dictated by the high CPI reading showing US inflation rose to 3.8% in April, which sparked $1.25 billion worth of Bitcoin derivatives de-risking across major crypto exchanges, wrote CryptoQuant analyst Amr Taha:

✍️ “The open interest decline may reflect a short-term reaction from leveraged traders rather than a clear long-term bearish signal for Bitcoin.”

However, with Bitcoin losing the $80,000 level, $78,000 is emerging as the next significant support line based on the loss percentage of short-term Bitcoin holders, commented crypto analyst Axel Adler.

A correction below $78,000 stands to trigger over $850 million in cumulative leveraged long liquidations, threatening more cascading liquidations that may add selling pressure, data from Coinglass shows 💥.

Tweets & Memes

Another token spotting the signs of a coordinated pump… Another memecoin crash 🎭?

Michael Saylor says the Clarity Act will be bullish for Bitcoin ₿.

Blockchain analytics provider uncovers the crypto wallets of Iran’s central bank 🇮🇷.

Blockchain investigators catch another scammer tied to $19 million stolen 🕵️.

The Lazarus Group and other North Korean actors stole $6.75 billion worth of crypto in the past 10 years 🇰🇵!

Thank you for reading the weekly CoinStats Scoop Newsletter.

CoinStats will continue to guide you through the world of crypto and DeFi. We’ll see you next week for another edition of CoinStats Scoop! 😎