Organizer: Cora, Techub News
On the regulatory side, cases such as a whale suing Coinbase for refusing to return $55 million of stolen DAI and BG Wealth Sharing being seized by federal agencies highlight the ongoing pressures of compliance and asset protection. On Wall Street, Morgan Stanley is focusing on low-fee cryptocurrency trading on E*Trade to compete against Bitcoin ETFs, further embedding crypto assets into mainstream wealth management systems. Meanwhile, institutions like State Street, Galaxy, Coinbase, and Centrifuge are continuing to ramp up efforts in tokenized funds, on-chain cash management, and RWA infrastructure, with CME launching Bitcoin volatility futures and shifting to 24/7 trading, as "on-chain finance in a regulated environment" is becoming a new consensus.
Hong Kong
Today, the Hong Kong Legislative Council held a closed-door discussion on digital asset tokenization, inviting various licensed industry organizations to participate. It is understood that the attending organizations include licensed stablecoin issuers, digital asset exchanges, digital asset ETF issuers, and asset management institutions, mainly to provide forward-looking professional advice for the Hong Kong Special Administrative Region government's recent push for a "five-year plan".
Regulatory/Macro
Whale sues Coinbase for refusing to return $55 million of stolen DAI
According to crypto.news, an anonymous investor "D.B." filed a lawsuit in federal court on Monday, accusing Coinbase of freezing their $55 million DAI assets stolen in August 2024 and refusing to return the funds despite the plaintiff providing proof of ownership. It was reported that the attacker used an Inferno Drainer phishing tool to steal the funds through a fake DeFi Saver login page. Blockchain security firm Zero Shadow traced part of the funds flowing into Coinbase accounts; the plaintiff claims to have provided sworn proof of ownership, but the exchange still demands a court order to release the assets.
U.S. law enforcement seizes BG Wealth Sharing, project CEO previously requested 12% tax
According to Cointelegraph, U.S. law enforcement has seized the domain of the cryptocurrency investment platform BG Wealth Sharing. The action was carried out by a joint task force involving the FBI, following warnings from the Central Bank of Samoa and Washington state financial institutions that the platform was operating without a license and involved in investment fraud. BG Wealth Sharing attracted investors by promising daily returns of 1.3% to 2.6% via social media. The project CEO requested users to pay a "tax" of 12% for the IPO last Saturday, after which users reported being unable to withdraw funds. The project's website now displays a notice of seizure from law enforcement agencies.
Project/Company Dynamics
Ripple CEO: If CLARITY Act marking program is delayed, chances of passage will sharply decline
According to NewsBTC, Ripple CEO Brad Garlinghouse stated at the CoinDesk Consensus Miami event that the next two weeks are crucial for the legislative process of the CLARITY Act. He warned that if the Senate Banking Committee fails to advance the bill on time, its chances of passage will "sharply decline." The bill is aimed at restricting crypto companies from paying interest or earnings to customers holding payment stablecoins but allows for non-functional incentives. He acknowledged that the bill is a product of compromise but believes regulatory clarity is better than industry uncertainty.
Core Scientific acquires Polaris DS for $421 million to expand AI infrastructure
According to Blockonomi, Core Scientific announced its acquisition of Polaris DS LLC for $421 million, securing 440 megawatts of power capacity to support its AI infrastructure construction plans. The company aims to achieve about 1 gigawatt of scalable power infrastructure in Oklahoma. The company is transforming from Bitcoin mining to high-performance computing services; the acquired property is located in Oklahoma and adjacent to its existing business. The deal is expected to be completed in the third quarter of 2026, accelerating the deployment of high-density computing infrastructure.
Investment bank Morgan Stanley launches cryptocurrency trading pilot
According to Cointelegraph, investment bank Morgan Stanley has launched a cryptocurrency trading pilot on its E*Trade platform, charging clients a fee of 50 basis points per transaction, which is lower than the basic retail pricing of Coinbase, Robinhood, and Charles Schwab. The pilot is currently open to a select group of users and is expected to be rolled out to E*Trade's 8.6 million customers by the end of the year. About a month ago, Morgan Stanley had just introduced its spot Bitcoin ETF (MSBT), which saw an inflow of $30.6 million on its first day. Currently, several Wall Street giants, including Charles Schwab and Goldman Sachs, are accelerating their entry into cryptocurrency trading.
MetaMask partners with theMiracle to launch new Rewards tab
According to CryptoBriefing, cryptocurrency wallet MetaMask has partnered with behavioral intelligence platform theMiracle to launch a redesigned Rewards tab. This integration analyzes users' on-chain behaviors to provide personalized brand rewards and loyalty benefits directly within the wallet, aiming to address the issues of fragmented and hard-to-discover crypto rewards. The collaboration matches relevant brand activities by reading on-chain asset and transaction data. MetaMask's product director Christian Montoya stated that this update reflects the wallet's shift from merely storing assets to providing a comprehensive experiential platform. theMiracle CEO Danilo Cerullo noted that embedding behavioral intelligence into the wallet helps establish user loyalty connections in a trusted environment, allowing users to discover benefits without cross-platform searching.
Aurora collaborates with McLane to operate autonomous trucks in Texas
According to TechCrunch, Aurora Innovation announced a commercial agreement with distribution giant McLane to deploy autonomous trucks on the Dallas to Houston route, without a safety driver onboard but equipped with a human observer, planning to expand to more delivery routes in the U.S. Sun Belt region by the end of the year. The two parties launched a pilot project in 2023, initially with safety operators, and have now been approved for seven-day-a-week autonomous operations. After long-distance transport completed by Aurora trucks, cargo will be handed over to McLane drivers for local delivery. This collaboration marks an important step for the company in transitioning from technology R&D to commercial operations and follows similar agreements with Detmar Logistics and Hirschbach Motor Lines.
SpaceX plans to invest $55 billion in semiconductor manufacturing facility in Texas
According to Blockonomi, SpaceX plans to invest $55 billion in Terafab semiconductor facilities in Austin, Texas, with total project investments potentially reaching $119 billion, far exceeding Morgan Stanley's previous estimates. The facility will produce chips for autonomous driving, robotics, and edge computing using Intel's 14A process. Musk stated that this factory is crucial to meet the demand for AI chips, with early funding mainly covered by SpaceX and will not impact Tesla's finances in the short term.
Hut 8 signs $9.8 billion AI data center lease for 15 years
According to Decrypt, Bitcoin mining company Hut 8 announced that it signed a 15-year lease agreement worth $9.8 billion for AI data center, involving its 352 megawatts of IT capacity in its Texas Beacon Point campus. The facility was initially used for Bitcoin mining but has been converted to AI infrastructure according to Nvidia's DSX architecture. This transaction brings Hut 8's total contracted capacity for AI data centers to 597 megawatts, and the tenants are anonymous high-investment-grade companies, with the first data halls expected to be delivered in the third quarter of 2027.
OpenTrade completes $17 million funding, total funding exceeds $30 million
According to CoinDesk, stablecoin infrastructure platform OpenTrade has completed a $17 million funding round led by Mercury Fund and Notion Capital, with participation from a16z Crypto and others, with total funding exceeding $30 million. The company plans to utilize the funds to expand licensed and unlicensed infrastructure and to grow its asset management and trading teams. The platform offers stablecoin yield products based on real-world assets to fintech companies, exchanges, and wallets, currently locking in a total value of $5.67 million, with trading volumes over $250 million last year. This funding comes as the stablecoin market size surpasses $310 billion, and the company is expanding services to non-custodial platforms, treasuries, and asset issuers.
Morgan Stanley launches low-fee cryptocurrency trading on E*Trade
According to CoinDesk, Morgan Stanley is launching a cryptocurrency trading pilot on its E*Trade platform, charging a fee of 50 basis points, lower than the 60 to 95 basis points charged by competitors such as Coinbase, Robinhood, and Charles Schwab. The head of the bank's wealth management department, Jed Finn, said this move is aimed at "disintermediating the disintermediaries," providing not only cheaper crypto trading but also a structural change in how clients access digital assets. The bank plans to promote services to 8.6 million E*Trade users later this year and introduce Bitcoin ETFs and related products for Ether and Solana. Additionally, the bank is applying for a national trust bank license to directly custody digital assets and explore cryptocurrency-to-ETF conversion and tokenized equity trading services.
Cryptocurrency exchange Crypto.com launches travel booking feature
Crypto.com announced the launch of its in-app travel booking service Crypto.com Travel, in collaboration with Bookit, allowing Level Up subscription users to earn up to 35% CRO cashback rewards on hotel and flight bookings. The service covers over 1 million global travel listings and 20 million tickets, and users can complete bookings through the Crypto.com App. Crypto.com stated that this move aims to enhance the practicality of digital assets in the real world, further enriching its Level Up user benefits program.
According to Bitcoinist, Ripple CEO Brad Garlinghouse stated in an interview at Consensus 2026 that XRP community activity has reached a historic peak, while warning that maximalism on a single chain hinders industry adoption and emphasizing that the future will be a multi-chain world rather than single-chain dominance. He pointed out that Ripple's recent acquisitions and product expansions aim to deepen the real-world applications of XRP rather than market speculation. The cryptocurrency industry is entering a phase related to institutions, where tokenization, collateral use cases, and traditional financial collaboration become core themes, and community strength helps networks navigate regulatory conflicts and market downturns.
Binance Oracle starts service migration to Atlas with a 90-day transition period
Binance announced that its oracle service Binance Oracle will start migrating to Atlas on May 6, with a transition period of 90 days. During this time, Atlas will gradually take over relevant services previously provided by Binance Oracle on BNB Chain, opBNB, and other networks; existing projects and partners need to connect with the Atlas team and complete the technical migration as soon as possible. The exchange stated that projects that do not complete the integration and migration during the transition period may face service disruptions, data unavailability, or update delays, and Binance Oracle will not be held responsible for this. The specific scope of migration, timeline, and technical pathways may be adjusted based on network conditions and project integration progress, with final details subject to technical notifications and product documentation.
Forward Industries collaborates with OnRe and expands Solana treasury
According to Blockonomi, Forward Industries announced a strategic partnership with digital reinsurance infrastructure platform OnRe, committing to invest up to $25 million to deploy the Solana-based yield token ONyc and participating as a lead investor in OnRe's $5 million Series A funding. Currently, the company holds over 7.01 million Solana tokens, having previously established Solana validation nodes and launched the fwdSOL product. This investment aims to diversify treasury revenues through tokenization of real-world assets, going beyond the traditional SOL staking model.
CME Group launches Bitcoin volatility futures contracts
According to Cointelegraph, CME Group announced the launch of Bitcoin volatility futures contracts, which will operate under the regulated futures framework in the U.S., distinguishing itself from existing crypto-native volatility products. The group plans to transition cryptocurrency futures and options trading to a 24/7 mode starting from May 29, to align with the around-the-clock nature of digital asset trading. Previously, CME launched cash-settled Bitcoin futures in 2017, and its product line includes Bitcoin options, micro Bitcoin contracts, and Ethereum derivatives.
CME Group plans to launch Bitcoin volatility futures
According to crypto.news, CME Group plans to launch Bitcoin volatility futures on June 1, pending regulatory review. The contract will settle to the CME CF Bitcoin Volatility Index (BVX), which reflects Bitcoin's expected price fluctuations over 30 days, allowing traders to manage risks without betting on spot price direction. The group's global head of cryptocurrency products stated that the new product will provide critical risk management layers for traders. This release comes closely after CME's upcoming 24/7 cryptocurrency trading service starting on May 29, aimed at meeting institutional demand for regulated crypto derivative tools.
Coinbase partners with Centrifuge to accelerate tokenization and make strategic investments
Cryptocurrency exchange Coinbase has partnered with tokenization platform Centrifuge, designating it as the preferred tokenization infrastructure platform and making a strategic investment in it. Centrifuge will build institution-grade compliant asset on-chain infrastructure based on the Base network, aiming to expand the distribution and practicality of tokenized assets. Both parties stated that this collaboration will combine Centrifuge's institutional-level tokenization experience with Coinbase's user base and institutional resources to address the current limitations on the liquidity of tokenized assets. Centrifuge has recently launched the deRWAs framework on Base, with the first product deSPXA offering tokenized exposure to the S&P 500 fund in collaboration with S&P Dow Jones Indices and Janus Henderson.
State Street and Galaxy launch SWEEP tokenized fund supporting 24/7 on-chain cash management
According to Blockonomi, State Street Investment Management and Galaxy Asset Management have launched the SWEEP tokenized fund. The fund is aimed at qualified institutional investors, supporting them in deploying stablecoins into yield-generating tools around the clock through blockchain infrastructure, unlike traditional money market funds. The fund initially launched on Solana, with plans to expand to Ethereum and Stellar later. Galaxy provides the underlying tokenization system, Anchorage Digital is responsible for digital asset custody, and State Street manages the traditional securities portfolio. State Street Bank manages over $50 trillion in assets, providing institutional-level endorsement for this product.
Ekubo hacked, losses amount to approximately $1.36 million
According to AMBCrypto, the Ekubo protocol was recently hacked, with the attacker stealing approximately $1.36 million in assets through 85 transactions. The attack exploited vulnerabilities in the protocol to complete multiple unusual transfers in a short time. The project team has not yet provided detailed incident descriptions and compensation plans. The security team is tracking the flow of the stolen funds, and the security status of user assets is still being assessed. This incident has sparked widespread attention on the security of DeFi wallets in the market.
Solana and Google launch AI agent stablecoin payment gateway
According to crypto.news, the Solana Foundation, in partnership with Google Cloud, has launched Pay.sh, a payment gateway supporting stablecoins, allowing AI agents to use stablecoins on Solana to pay for Google Cloud services and API fees on demand, without subscriptions or accounts. The service is built on the x402 open payment standard and Machine Payments Protocol, supporting Google Cloud APIs such as Gemini, BigQuery, Vertex AI, and more than 50 community API providers. Direct payments are enabled via HTTP 402 status codes, aimed at providing native internet payment capabilities for AI agents without traditional billing processes, leveraging Solana's low fees and fast settlement characteristics for small payments.
a16z completes $2.2 billion cryptocurrency fund fundraising, strategy shifts to mature segments
According to AMBCrypto, venture capital firm Andreessen Horowitz (a16z) has completed the fundraising for a new cryptocurrency fund worth $2.2 billion. The firm stated that its investment strategy has been adjusted to focus on segments with proven success. This fundraising reflects the investment institution's attention to mature segments. Unlike prior focuses on early-stage innovative projects, this fund is more inclined to support cryptocurrency fields with proven viable business models.
Moscow Exchange plans to launch indices for SOL, XRP, TRX, BNB
According to bitcoinist.com, the Moscow Exchange plans to launch cryptocurrency indices for Solana, XRP, Tron, and BNB starting May 13, with codes MOEXSOL, MOEXXRP, MOEXTRX, and MOEXBNB respectively. The new indices will be calculated using weighted trading data from Binance, Bybit, OKX, and Bitget, with the calculation frequency changed from once daily to every 15 seconds. The exchange stated that this move aims to expand the infrastructure of the regulated digital asset market in Russia, with these indices potentially becoming underlying assets for new financial instruments in the future. Currently, the exchange has launched futures products based on Bitcoin and Ethereum indices and derivatives linked to BlackRock's iShares Bitcoin and Ethereum Trust ETFs, but participation remains limited to professional investors.
Michael Saylor: Strategy may sell Bitcoin to pay dividends
According to crypto.news, Michael Saylor stated during the Strategy first-quarter earnings call that the company might sell part of its Bitcoin holdings to pay dividends. Strategy incurred a net loss of $12.54 billion in the first quarter and currently holds 818,334 Bitcoins, up 22% from the beginning of the year. This marks a shift from its long-term "buy and hold" strategy. Saylor stated that this move aims to eliminate market concerns about the company's ability to pay dividends, proving that the company can sell Bitcoin without causing panic. Previously, he had stated in February that Strategy would continue purchasing Bitcoin every quarter.
Figure challenges Fannie Mae and Freddie Mac, blockchain reduces lending costs by 91%
According to CoinDesk, blockchain company Figure Technology Solutions announced its entrance into the primary mortgage market, directly challenging Fannie Mae and Freddie Mac. The company claims its blockchain platform can reduce loan origination costs from $11,000 to $1,000, a 91% reduction, while also shortening approval times from the industry average of 30 to 45 days down to 5 minutes for approval and 3 days for fund disbursement. The company focuses on the submarket for loans under $300,000 and is shifting from a balance sheet lending model to a market model, expecting adjusted EBITDA profit margins to reach 80% to 85% in the next one to two years. Additionally, the company is negotiating with ConsenSys' MetaMask to integrate its DeFi protocol Democratized Prime to support on-chain mortgage and auto-secured lending.
Opinions
AI once again becomes a "decent reason": The realistic dilemma of Web3 seen through Coinbase's 14% layoffs
Web3 is undergoing an unprecedented and brutal cleansing. Behind each name on that long "death list" is the exhaustion of liquidity, cognitive overload, and years of bear market grind. They have died from funding breaks, from users leaving, but they do not die from "not enough AI".
What did the cryptocurrency circle hear from Powell's last press conference?
On one side, conflicts in the Middle East are driving global oil prices higher, while on the other side, tariffs continue to be passed on to commodity prices. Powell stated that the Federal Reserve has always assumed that tariffs would lead to a one-time price increase that would then disappear over time, but he insisted that it must actually happen in the next two quarters.
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