Bitcoin (BTC) is down about 4.5% in May, trading near $73,500, and risks ending a two-month winning streak as the crypto market lags behind a strong stock rally. The Nasdaq gained over 8% in May, while S&P 500 and DJIA hit record highs. Crypto majors like Ether (ETH) fell over 11%, while Solana (SOL) dipped only 2.1%. A hopeful post from President Trump on Iran lifted stocks and oil prices, but crypto remained subdued. Meanwhile, Robinhood (HOOD) shares jumped 10% on Friday, extending a 20% rally, following CFTC approval of Bitcoin perpetual futures on a regulated exchange and a path for Coinbase affiliate to offer derivatives. Robinhood also announced Agentic Trading and a credit card using AI agents, and launched Trump Accounts for children's investments, serving as brokerage and clearing partner. SoFi (SOFI) rose 7% after rolling out a dollar-backed stablecoin, SoFiUSD, to 15 million users, becoming the first U.S. national bank to offer a stablecoin directly to retail customers. In derivatives, Binance's Pre-IPO perpetuals captured over 60% category share within days, with cumulative volume nearing $400 million, dominated by SPACEX at 79%.

Key facts

• Bitcoin is down ~4.5% in May, risking end of two-month winning streak.
• Robinhood stock jumps 10% on CFTC crypto derivatives approval and AI news.
• CFTC approves bitcoin perpetual futures on regulated exchange and Coinbase derivatives.
• SoFi launches stablecoin SoFiUSD to 15 million users, stock up 7%.
• Binance Pre-IPO perpetuals reach $400M volume, SPACEX dominates 79%.

KeyAudit data perspective