CAN News & Events

Crypto's institutional ambitions ran into dual regulatory headwinds as Senator Elizabeth Warren pressed the OCC to justify trust charter grants to Coinbase, BitGo, and peers, as the Bank of England signaled an aggregate cap on stablecoin issuance ahead of formal rules next month. Canaan reported Q1 results in line with guidance but issued a weaker Q2 outlook, while Hyperscale Data held its bitcoin position steady and BitGo launched a custody platform for banks. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.WARREN VS. OCC ON TRUST CHARTERS:Senator Elizabeth Warren sent a letter to OCC head Jonathan Gould challenging at least nine national trust bank charter approvals granted to crypto companies, calling them an "apparent violation of the National Bank Act," as reported by. The letter specifically names Coinbase, Ripple, Crypto.com, and BitGoamong the recipients of charters she argues were unlawfully issued. The practical stakes are significant: a national trust bank charter allows crypto firms to operate custody and fiduciary services across state lines without a patchwork of state licenses, lowering compliance costs and broadening institutional client reach. Warren's challenge could force OCC to justify or revoke those approvals, injecting legal uncertainty into charter-holders' expansion plans and potentially delaying Coinbase's and BitGo's institutional custody buildouts.BOE STABLECOIN GUARDRAILS:The Bank of England said it is weighing "temporary guardrails" that would cap aggregate stablecoin issuance rather than impose per-holder limits, with formal rules expected next month, asreported. The proposal directly affects Circleand its USD Coinfranchise, as well as Coinbase, which earns a revenue-share on USDC balances. An aggregate issuance cap differs structurally from per-wallet limits: it constrains total float rather than individual holdings, meaning fast-growing stablecoin adoption could trigger a hard ceiling sooner than the market expects. With Circle's IPO still fresh and its U.K. licensing ambitions on record, the BoE timeline concentrates regulatory calendar risk into a narrow window.BITGO BANK PLATFORM LAUNCH:BitGo launched a modular digital asset operating platform targeting banks, covering custody, Crypto-as-a-Service, trading and settlement, stablecoin infrastructure, and wealth management tooling, as the company. The timing lands as Warren simultaneously questions BitGo's OCC trust charter, pairing a commercial product push with fresh regulatory headwinds on the same day.CANAAN Q1 RESULTS AND TREASURY:Canaanreported Q1 revenue of $62.7M, in line with prior guidance, and the filing revealed its crypto treasury reached a record 1,807.60 bitcoin and 3,951.53 ether, per. For Q2, the company guided revenue of $35M–$45M, citing compressed hashprice and macro uncertainty. The Q2 guidance range implies a revenue step-down of roughly 30%-44% sequentially, a signal that hashprice compression continues to squeeze miner economics even as Canaan pads its balance sheet with native crypto assets. At the Bitcoin 2026 conference in Las Vegas, the companyon home mining's resurgence, spotlighting its Avalon Home product line and retail distribution push.HYPERSCALE DATA TREASURY UPDATE:Hyperscale Datadisclosed holding approximately 692 bitcoin, valued near $53.6M as of May 17, with the disclosure confirming no open-market purchases were made during the prior week, per. The company reaffirmed its intent to fully deploy its allocated cash into bitcoin over time.CRYPTO CRIME AND EXCHANGE SECURITY:Physical attacks targeting crypto holders have prompted exchanges including Coinbase to harden executive security and conference protocols, with private security demand surging industry-wide,. The security escalation adds a new operational cost layer for public crypto companies with visible leadership, particularly those with retail-facing brands and high-profile conferences on the calendar.PRICE ACTION:As of time of writing, bitcoin was trading at $76,166.26, while ether was trading at $2,098.26,.

Canaan announced that it has been selected to support a district heating network in the Nordic region. The heating solution, developed in partnership with a Nordic heating provider, utilizes Canaan's Avalon A1566HA series hydro-cooled units with a combined capacity of approximately 8 MW. These units, engineered to deliver high-efficiency thermal output directly into local heating networks, will replace traditional heating solutions currently used by the customer.

Canaan released unaudited bitcoin mining update for April 2026. Cannan achieved record high cryptocurrency holdings of 1,826 BTC and 3,952 ETH. Installed hashrate grew 34.6% year-over-year to 10.97 EH/s, excluding hashrate from JV. "April marked a constructive reset for Canaan. While compressed margins challenged the industry, periods like this one ultimately reinforce the foundation for sustainable, long-term growth," said CEO Nangeng Zhang. "During April, we delivered 90 BTC from our self-mining operations and received an additional 3 BTC from customer payments. After accounting for operating costs, our cryptocurrency holdings reached a record 1,826 BTC and 3,952 ETH by the month-end. In addition, our joint venture operations produced approximately 48 BTC during the month, reflecting the growing scale of our broader operating platform. We maintained strong self-operating performance in April, with month-end installed hashrate and month-end operating hashrate reaching 10.97 EH/s and 6.86 EH/s, respectively, up 34.6% and 10.6% year-over-year...As our joint venture operations continue coming online, Canaan will continue to work to further strengthen its broader energy and compute infrastructure platform. Looking ahead, we remain focused on disciplined execution and thoughtful expansion as we build sustainable shareholder value over time."