Alibaba (BABA) closed at $134.78, down 1.84% as the market braces for its Q4 FY2026 results. With options traders pricing in a ±7% post-earnings move, the focus has shifted from gross merchandise value (GMV) to compute-driven revenue.

On May 13, 2026, Kraken introduced CFTC-regulated spot crypto margin trading for eligible US retail customers, expanding access to leverage on domestic regulated venues. The exchange said users can trade with up to 10x leverage by posting existing crypto as collateral rather than selling holdings, following Payward's recent acquisition of Bitnomial to bolster its US derivatives infrastructure.

On May 12, CFTC Chair Michael S. Selig said the CFTC is working with the SEC to better align oversight, rulemaking, and enforcement across crypto, securities, and derivatives markets. He pointed to a memorandum of understanding, participation in the SEC's Project Crypto, and development of a crypto asset taxonomy, alongside expected joint comment requests on portfolio margining and swap data reporting. Selig added that information sharing and parallel-action coordination can lower the risk of inconsistent outcomes for the same conduct and potentially reduce compliance friction for firms.

On May 13, several major crypto assets were described as compressing under key resistance zones, setting up for a potential volatility increase. Bitcoin is holding a $78,000-$79,000 support cluster after repeated failures near $82,000, while XRP faces $1.50 with a longer-term barrier around $1.70-$1.72. SHIB is testing $0.00000645, TON is consolidating near $2.30-$2.50 after a rapid move, and ZEC is cooling after a spike toward $650 and a pullback toward the mid-$500s.

Michigan Reps. John Moolenaar and Debbie Dingell announced legislation Tuesday that would ban China-linked connected vehicles, plus related software and hardware, from the U.S. market. The proposal sets a Jan. 1, 2027 start for software restrictions and a Jan. 1, 2030 start for hardware limits, and also applies to Russia, North Korea and Iran.

eToro said cryptoasset revenue fell to $2.15 billion in Q1 2026 from $3.5 billion in Q1 2025, as trading activity cooled. The brokerage also reported a 32% year-over-year drop in total trades, while its balance-sheet crypto holdings edged down to $60.5 million from $62.6 million at year-end 2025.

The S&P 500 closed above 7,400 on Monday for the first time, returning to record highs even as the U.S.-Iran war continues into its third month and oil prices remain elevated. The index has rebounded about 17% from around 6,300 in a little over a month, supported by limited margin exposure to energy, strong profit concentration in big tech tied to AI, and a U.S. economy that is less oil-dependent than in past crises.

On 12 May 2026, Tom Lee told attendees at Consensus 2026 that the market may be moving out of the crypto winter, with Ethereum acting as the leading signal. He cited ETH/BTC ratio benchmarks and a $250,000 Bitcoin fair-value reference to frame an implied ~$22,000 ETH scenario, while noting Ethereum was the best-performing asset since the Iran war began.