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MoneyGram Launches Its Own Stablecoin on the Stellar Network
Global money transfer company MoneyGram has launched MGUSD, a stablecoin pegged to the U.S. dollar. The new digital dollar runs on the Stellar blockchain and targets the company’s more than 60 million active customers and nearly 500,000 physical service locations worldwide.MGUSD launches first in the U.S.According to the company’s announcement on Tuesday, MGUSD was initially rolled out for users in the United States. MoneyGram plans to expand the product globally in the coming period. The stablecoin will function as a digital dollar balance inside the MoneyGram app. MGUSD's concept image. Source: BusinessWire Through this structure, users will be able to hold digital assets denominated in U.S. dollars, transfer them and convert them into cash through MoneyGram’s physical locations when needed. In doing so, the company has connected digital asset infrastructure directly to its existing money transfer network.Bridge, M0 and Fireblocks support the infrastructureThree key partners are involved in MGUSD’s technical and regulatory infrastructure. The stablecoin will be issued by Bridge, which operates under Stripe. M0 will provide the smart contract infrastructure managing MGUSD’s minting and burning processes.Fireblocks, meanwhile, will handle custody and wallet distribution. MoneyGram will hold MGUSD in Fireblocks wallets and then transfer the funds to customer wallets embedded in the MoneyGram app.MoneyGram Chairman and CEO Anthony Soohoo said MGUSD was developed especially for customers sending money across borders. According to Soohoo, the stablecoin was designed for users sending funds to their families and for large populations with limited access to financial services.Stellar partnership enters a new phaseMoneyGram’s decision to choose the Stellar blockchain is not the result of a new partnership. The company has been working with the Stellar Development Foundation for nearly five years on stablecoin-powered money transfer solutions. During this period, MoneyGram offered money movement and cash-out services through Circle’s USDC stablecoin.With MGUSD, MoneyGram has moved beyond using a third-party stablecoin and launched its own digital dollar. Stellar Development Foundation CEO Denelle Dixon also described the launch as a new milestone showing what a purpose-built blockchain infrastructure can deliver when combined with a trusted payments network.Stablecoin race acceleratesMoneyGram’s move comes in parallel with the growing stablecoin competition in the payments sector. PayPal had previously entered this field with PYUSD. Western Union has also announced plans to launch a stablecoin called USDPT on Solana.SoFi is following a similar strategy with SoFiUSD, while payment giants such as Visa are also integrating stablecoin infrastructure into cross-border settlement processes. The appeal of this area for traditional payment companies is clear. Stablecoins offer a transfer infrastructure that operates 24/7, is faster and may potentially be less costly.MoneyGram’s strongest advantage in this race is its broad physical service network. Fully digital stablecoin products often require a bank account, a crypto wallet or access to an online platform. MoneyGram, however, could make it easier for users to move between digital dollars and cash through its hundreds of thousands of physical locations.This model may create a notable advantage, especially in regions where access to banking services is limited. The company is positioning stablecoins not only as a product for the crypto market, but also as a new building block for its global money transfer network.The company had accelerated its stablecoin preparationsMoneyGram has gradually strengthened its preparations in this field in recent months. In December, the company partnered with Fireblocks for stablecoin settlements. Last month, it was named one of the anchor remittance validators on Tempo, the blockchain backed by Stripe and Paradigm. In May, it also expanded crypto-to-cash withdrawal services for Kraken users.
Radiant Capital to Shut Down After Failing to Recover From $50 Million Exploit
Decentralized finance protocol Radiant Capital has decided to wind down its operations after failing to recover from a major attack in 2024. The project spent roughly 18 months trying to get back on track, but said it was unable to recover a meaningful portion of the stolen funds or secure fresh capital. As a result, Radiant Capital said the DAO no longer has a viable path forward. In a statement shared on X, Radiant Capital said the protocol will move into a “maintenance state.” During this period, the frontend and smart contracts will remain live and accessible. Users will still be able to withdraw funds, repay loans and manage their open positions.The team stressed that the decision was not made lightly. According to the statement, contributors and community members continued working under increasingly difficult conditions in recent months to support users and keep the protocol operational. However, Radiant Capital said effort alone was not enough without fund recovery, new capital or renewed growth.2024 hack: What happened?Radiant Capital suffered a major exploit in October 2024 targeting its deployments on Arbitrum and BNB Chain. The attacker reportedly used a backdoor contract to gain unauthorized access and drain roughly $50 million worth of assets from the protocol. At the time, security researchers said the losses had reached about $51 million.The attack caused more than financial damage. It also severely weakened trust in Radiant Capital. In decentralized finance, user confidence is often just as important as available capital, and large exploits can directly affect a project’s chances of long-term survival.Radiant Capital had already faced a separate security incident earlier in 2024. At the beginning of that year, the protocol was hit by a flash loan attack that drained around 1,900 ETH. The stolen assets were worth about $4.5 million at the time. Two major security incidents in the same year further weakened the project’s ability to recover.The company emphasized that the current decision will not prevent users from accessing their funds. During the maintenance period, the protocol’s core functions will remain available. This means users can close positions, repay debt and withdraw assets.Radiant Capital also said recovery efforts have not been fully abandoned. If any funds are retrieved in the future, they will be returned to affected users. Still, the current picture shows that the project will not return to an active development and growth phase. Instead, Radiant Capital will remain in a limited state focused on allowing users to safely manage their existing positions.Radiant Capital’s shutdown once again shows how lasting the consequences of security breaches can be for DeFi projects. Decentralized finance protocols offer high-yield opportunities and cross-chain accessibility, but their complex smart contract structures also continue to make them attractive targets for attackers.The number of attacks across the crypto ecosystem has also increased sharply in recent months. According to DeFi Llama data, the number of crypto hacks reached a record monthly high in April. Although the total amount of stolen funds did not set a new record, the fact that the number of exploits exceeded 20 showed that security risks continue to grow across the sector.The Radiant Capital case highlights that technical security is critical not only at launch, but throughout the entire life cycle of a DeFi protocol. After a major exploit, regaining user trust, replacing lost capital and attracting new investment can become far more difficult than expected.For this reason, Radiant Capital’s closure should not be viewed only as the failure of a single protocol. It also stands as a current example of how decisive security, capital management and post-crisis recovery can be in the DeFi market. Keeping withdrawals and position management open for users remains important in the short term, but Radiant Capital no longer appears able to continue as an active project.
What Is Brevis (BREV)?
Brevis (BREV) is a verifiable computing infrastructure powered by zero-knowledge proofs. The project allows blockchain applications to perform complex computations off-chain and then verify the results securely on-chain.This definition may sound technical at first. Put more simply, Brevis handles heavy data processing tasks that smart contracts cannot efficiently perform on their own. The computations are carried out off-chain, while the accuracy of the results is proven on-chain through zero-knowledge proofs.This approach is especially important for decentralized finance, cross-chain data usage, user rewards, volume-based fee discounts and privacy-focused verification processes. Smart contracts have limited capacity when it comes to processing past transactions and large datasets directly. Brevis is one of the projects developed to overcome this limitation.BREV is the native crypto asset of the Brevis ecosystem. It is used for payments, staking, delegation and governance within the proof generation network called ProverNet. For this reason, the answer to the question “What is BREV token?” is not limited to a simple trading asset. BREV is one of the core tools in Brevis’ verifiable computing economy.Brevis’ Definition and OriginsBrevis positions itself as an “infinite compute layer.” The goal here is to move computations that are expensive, slow or technically difficult to perform directly on a blockchain to an off-chain environment. However, this process does not rely on blind trust in a centralized server. The correctness of the computation is proven through zero-knowledge proofs.On blockchain networks, smart contracts automatically enforce specific rules. However, their data processing capacity is limited. For example, calculating a user’s trading volume over the past year, their activity across different networks or their contribution to a specific protocol can be quite costly on-chain.This is where Brevis comes in. The project reads historical blockchain data, performs the required computation off-chain and carries the result back on-chain together with a cryptographic proof. This allows an application to receive a reliable answer to a question such as, “Does this user really meet this condition?”This structure opens up new design possibilities for Web3 applications. Decentralized exchanges can offer personalized fee discounts based on trading volume. Reward campaigns can be calculated more fairly. Users can prove that they have completed a specific action without revealing their entire wallet history.Brevis was created to meet this need. The project aims to make blockchain applications more flexible in terms of data, computation and verification. It allows smart contracts to securely access not only the current state of a blockchain, but also historical data and complex computation results.Brevis also stands out through its connection to Celer Network. Celer is known for its work in cross-chain communication and scaling. Brevis carries this technical background into the fields of zero-knowledge proofs and verifiable computing.Brevis History: Key MilestonesBrevis’ development coincides with the period in which zero-knowledge technologies moved from an experimental research field into real-world applications. The project began to gain visibility in 2023 as a multi-chain data verification and computing infrastructure. In its early phase, the focus was on enabling decentralized applications to securely access historical on-chain data.In the final quarter of 2024, Brevis launched ZK Data Coprocessor V1, which can be described as a zero-knowledge-powered data coprocessor. This structure allowed smart contracts to perform computations on historical transactions, event logs and data from different blockchains.In November 2024, Brevis completed a $7.5 million seed funding round. The participation of major investors such as Polychain Capital and Binance Labs increased the project’s visibility in the Web3 infrastructure space. During the same period, Brevis also strengthened its relationship with decentralized finance applications.In January 2025, ZK Data Coprocessor V2 improved the project’s data processing capacity. This update paved the way for more complex queries and broader use cases. In February 2025, Pico zkVM was introduced. Pico zkVM is a modular virtual machine infrastructure that allows developers to run general-purpose programs with zero-knowledge proofs.In May 2025, the use of Brevis-powered personalized fee mechanisms on PancakeSwap Infinity became one of the project’s real-world examples. Users could receive different fee structures based on their historical trading volume or whether they met certain conditions.In June 2025, the launch of Incentra with Euler campaigns strengthened Brevis’ position in the rewards and incentives infrastructure field. Since fair calculation of user contributions is important in these types of campaigns, the verifiable computing model stood out. In October 2025, significant results were announced for real-time proof generation for Ethereum blocks through Pico Prism. In November 2025, the Brevis ProverNet technical document was published. In December 2025, the BREV token structure was announced and the free token distribution process began. In January 2026, the ProverNet mainnet and BREV token utility went live. Around the same time, BREV token began to be listed on centralized exchanges.As of June 2026, the BREV coin price is around $0.10. How Does Brevis Work?The working logic of Brevis can be summarized in three basic steps: receive the data, compute off-chain and prove on-chain. This structure aims to reduce costs while also lowering the need for centralized trust.In the first step, an application creates a specific data or computation request. This request may involve calculating a user’s historical trading volume. In another example, it may measure how much liquidity a user provided to a decentralized finance protocol.In the second step, the computation is performed off-chain. This significantly reduces transaction costs. Instead of paying gas for every small computation on a blockchain, the heavy work is completed outside the chain.In the third step, the correctness of the computation result is verified on-chain through a zero-knowledge proof. At this point, the application does not have to trust the party that performed the computation. The result is backed by a cryptographic proof.Pico zkVM plays an important role in this structure. zkVM stands for “zero-knowledge virtual machine.” Developers can use this structure to run certain programs with zero-knowledge proofs. The goal of Pico zkVM is to help developers build more flexible and general-purpose verifiable computing processes.ZK Data Coprocessor is the main component on Brevis’ data processing side. It can be thought of as a coprocessor for smart contracts. A smart contract cannot efficiently process large amounts of historical data on its own, but Brevis can perform the computation and prove the result.ProverNet is Brevis’ proof generation marketplace. Developers create proof generation requests, while provers take on these tasks. Provers provide the technical infrastructure needed for computation and proof generation.Payments in this marketplace are made with BREV. Provers stake BREV to be able to receive jobs. Token holders can also delegate their BREV assets to provers. This creates an economic incentive structure inside ProverNet.Why Is Brevis Important?Brevis is important because it addresses one of the core limitations of blockchain applications. Smart contracts are powerful tools, but they cannot perform every task efficiently. Cost and performance problems arise especially when historical data scanning, complex computation and cross-chain information are involved.Brevis approaches this problem through an off-chain computation and on-chain verification model. This allows applications to access more data, run more advanced rules and do so without relying on a centralized system.In decentralized finance, this structure can create concrete results. An exchange can offer different fee levels based on historical trading volume instead of applying the same fee rate to every user. A lending protocol can analyze user behavior in more detail and calculate reward campaigns more accurately.Reward programs offer another similar advantage. In the crypto ecosystem, campaigns often depend on user activity. However, measuring that activity fairly is not always easy. Brevis can process historical on-chain data through verifiable computations and support a more transparent reward distribution process.There is also an important use case on the privacy side. A user may want to prove that they meet a certain condition, but they may not want to share their entire wallet history. Zero-knowledge proofs help show that the user meets the required condition without revealing unnecessary information.Brevis can also make zero-knowledge technologies more accessible to a broader audience. Developers do not have to deal with cryptographic details every time. The project aims to turn this complex infrastructure into a more understandable layer that applications can use.What Is BREV Token and What Does It Do?BREV token is the native crypto asset of the Brevis ecosystem. It is used for payments, staking, delegation and governance inside ProverNet. For this reason, the answer to the question “What does BREV token do?” is directly connected to Brevis’ proof generation economy. When a developer requests proof generation on ProverNet, the payment is made in BREV. This payment covers computation, verification and the use of results on-chain. Provers earn BREV when they complete these tasks.BREV is also used in the staking mechanism. Provers must stake a certain amount of BREV to join the network and take on jobs. This structure provides an economic guarantee designed to protect service quality.Token holders do not have to operate as provers directly. Instead, they can delegate their BREV assets to professional provers. This creates a way to participate in the ProverNet economy without running technical infrastructure.Another use case for BREV is governance. Token holders may have a say in some of the network’s economic and technical parameters. Topics such as proof size, security level, marketplace fee and slashing rate may be shaped through community governance over time.The total supply of BREV is set at 1 billion tokens. The token distribution includes categories such as ecosystem development, community incentives, team, investors and free token distribution. The circulating supply at launch is also an important figure for investors to follow.One point needs attention here: the BREV price is related not only to supply, but also to the real usage volume on ProverNet. If developers use the Brevis infrastructure more, BREV demand may take shape accordingly. However, crypto asset prices are also affected by market conditions, token unlocks and general investor appetite.Brevis Use CasesOne of Brevis’ strongest use cases is in decentralized finance. Decentralized exchanges can offer personalized fees based on users’ historical trading volume. This allows active users to pay lower transaction fees, while the platform can make its loyalty programs more efficient.Liquidity incentives are also an important area for Brevis. A protocol can verify how long users provided liquidity, which pools they interacted with or whether they met certain conditions. This helps create a fairer structure for reward distribution.Cross-chain data verification is another use case. A user may have made transactions on one network, held assets on another network or shown activity across different protocols. Brevis can help make this information usable in a reliable way.Privacy-focused participation proofs also stand out. A user can prove that they belong to a certain community, passed a specific transaction threshold or met the requirements of a campaign. They can do this without revealing their entire wallet history to everyone.Real-world assets and stablecoin campaigns are also suitable areas for Brevis. Verifiable computing becomes important in processes such as yield distribution, participation measurement and user behavior analysis.There is similar potential for artificial intelligence and data-focused applications. Making model outputs, data queries or user behavior verifiable can pave the way for more reliable services in Web3 applications.Brevis also has use cases in media verification. Verifying the history of images, content or media has become more important in a period when AI-generated content is increasing. Zero-knowledge proofs can offer a reliable verification layer in this field as well.Brevis Developers and CommunityBehind Brevis is a technical team connected to Celer Network. Michael Dong, also known as Mo Dong, stands out among the project’s founding names. Dong is known for his academic background in distributed systems and computer networks. His role as one of the co-founders of Celer Network is also important for understanding the technical side of Brevis.The Brevis team focuses on fields such as zero-knowledge systems, distributed networks, cryptography and blockchain infrastructure. For this reason, the project aims to build an infrastructure layer rather than only a single application.On the investor side, support from names such as Polychain Capital, Binance Labs/YZi Labs, IOSG, Nomad Capital, Bankless Ventures and HashKey has brought visibility to the project. This type of backing does not guarantee success, but it matters for early-stage infrastructure projects in terms of resources and ecosystem connections.On the community side, free token distribution, staking, delegation and developer contributions stand out. Brevis’ long-term growth depends not only on investors, but also on application developers and the prover network.ProverNet allows the community to take a more active role. Provers provide technical infrastructure, developers create proof requests, and token holders can participate in delegation and governance processes. In this way, Brevis is trying to build not just a software product, but a network structure based on economic incentives.Brevis’ future is closely tied to how widely zero-knowledge technologies are used in the blockchain ecosystem. Today, many applications have to rely on centralized servers while processing data off-chain. Brevis aims to make this process more transparent and verifiable.The growth of ProverNet is critical in this respect. If more developers use Brevis for proof generation, economic activity within ProverNet may also increase. This could directly affect BREV token utility.Technical components such as Pico zkVM and Pico Prism also play an important role in the project’s future. Real-time proof generation for Ethereum blocks is one of the most ambitious areas in zero-knowledge technology. If Brevis can provide performance and cost advantages in this field, it may reach broader use cases.Brevis’ plan to move toward its own rollup model in the future is also notable. Such a structure could allow payment, staking and proof generation processes to be managed on a more specialized infrastructure. However, such transitions need to be carried out carefully from a technical perspective.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about Brevis:What is Brevis and when did it launch?: Brevis is a verifiable computing infrastructure powered by zero-knowledge proofs. The project began to gain visibility in 2023 in the field of multi-chain data verification and computation. Its main goal is to allow smart contracts to reliably use complex computations performed off-chain.Who developed Brevis?: Behind Brevis is a technical team connected to Celer Network. Michael Dong, also known as Mo Dong, stands out among the project’s founding names. Dong is known for his academic background in distributed systems and computer networks.What does BREV token do?: BREV token is used for payments, staking, delegation and governance in the Brevis ecosystem. Developers requesting proof generation on ProverNet make payments, while provers earn BREV when they complete these tasks.When was BREV coin listed?: BREV began trading on centralized exchanges in January 2026. Binance opened trading pairs for BREV with USDT, USDC, BNB and TRY. This listing also became one of the starting points for BREV’s price history.What problems does Brevis aim to solve?: Brevis aims to address the limited data access and high computation cost problems of smart contracts. It makes off-chain computations verifiable on-chain through zero-knowledge proofs. This allows applications to use more complex operations at a lower cost.How does Brevis work?: Brevis first processes the required data, then performs the computation off-chain. The correctness of the result is proven with a zero-knowledge proof, and this proof is verified on-chain. This model is based on the logic of “compute off-chain, prove on-chain.”What is ProverNet?: ProverNet is Brevis’ proof generation network. Developers create proof requests there, while provers fulfill these requests. Payments are made in BREV, and provers need to stake BREV to join the network.What is Pico zkVM?: Pico zkVM is the zero-knowledge virtual machine infrastructure used in the Brevis ecosystem. It helps developers run general-purpose programs with zero-knowledge proofs. This structure enables the development of more flexible verifiable computing applications.What does ZK Data Coprocessor do?: ZK Data Coprocessor can be explained as a zero-knowledge-powered data coprocessor. It allows smart contracts to access historical blockchain data and complex computation results without requiring trust.Which networks is BREV available on?: Contract information has been shared for BREV on Ethereum, BNB Smart Chain and Base. Users should check the official contract addresses before making any transactions.Is BREV suitable for investment?: BREV is the crypto asset of an infrastructure project focused on zero-knowledge and verifiable computing. However, it is not enough to look only at the project narrative when making an investment decision. Circulating supply, token unlocks, ProverNet usage, market conditions and personal expectations should be evaluated together.Who are Brevis’ competitors?: Brevis operates in the field of zero-knowledge-powered coprocessors and verifiable computing. Projects such as Axiom, Succinct, RISC Zero and similar names can be evaluated within the same general category. Each project has a different architecture, target market and developer experience.Follow the JR Kripto Guide series for the latest information on Brevis and zero-knowledge-based verifiable computing projects.
Bitcoin Funds See Record Outflows: 3 Altcoins Hold Firm
Crypto asset investment products saw $1.67 billion in outflows this week. It marked the third consecutive negative week and the second-largest weekly outflow of 2026 so far. Only the week of January 23 was worse.Cumulative outflows over the past three weeks have now reached $4.21 billion. This suggests that the risk-off mood triggered by Iran-related geopolitical tensions has largely overshadowed the positive sentiment created by the CLARITY Act. Total assets under management (AuM) fell from $148 billion last week to $141 billion, the lowest level since early April. The picture resembles the January-February period, when the market saw five consecutive weeks of outflows.Bitcoin records its largest weekly outflow of 2026Bitcoin took the hardest hit this week. The asset saw $1.438 billion in outflows, surpassing both last week’s record and the January peak. Bitcoin’s year-to-date inflows are also shrinking fast: they stood at $3.9 billion two weeks ago, fell to $2.6 billion last week, and dropped to $1.2 billion this week.The picture is not bright for Ethereum either. With $257 million in outflows, the risk-off sentiment has clearly spread to Ethereum as well. Ethereum’s year-to-date flow balance has already turned negative, standing at minus $346 million.Regional breakdown: The US still leadsLooking at the regional distribution, almost all of the global outflows came from the United States, which accounted for $1.63 billion alone. Germany, which had remained relatively resilient in previous weeks, joined the latest risk-off wave and recorded $25.7 million in outflows. Sweden saw $6.6 million in outflows, while Hong Kong posted $4.5 million.Canada was one of the few countries that managed to hold up, staying positive with a modest $0.4 million in inflows. Switzerland and the Netherlands also recorded small inflows of $0.5 million and $1.3 million, respectively.Altcoin participation collapsesThree weeks ago, 11 altcoins were recording inflows. This week, that number fell to five. The assets that managed to attract meaningful inflows were XRP with $20.3 million, Hyperliquid with $10.8 million, and Near with $7.6 million. Chainlink recorded $0.7 million in inflows, while Sui remained positive on a month-to-date basis with $7.2 million. However, Solana, Ethereum, and multi-asset products continued to see outflows. On the provider side, iShares recorded the largest outflow of the week at $1.148 billion. It was followed by Grayscale with $251 million and Fidelity with $190 million. On a year-to-date basis, Fidelity’s total outflows have reached $1.683 billion, giving it the weakest flow profile in the sector. In contrast, 21Shares AG remained positive on a monthly basis with $8 million in inflows, while Bitwise stayed positive month-to-date with $54 million.The message from CoinShares’ weekly report is clear: institutional investors remain cautious. The scale of three-week cumulative outflows and the sharp narrowing in altcoin participation show that risk appetite in the market has weakened significantly. As long as geopolitical pressure continues and macroeconomic uncertainty persists, flows may need a strong catalyst to turn positive in the short term.
Bitcoin ETFs See $2.97 Billion in Outflows Over 10 Days
U.S. spot Bitcoin ETFs recorded a total of $2.97 billion in outflows across 10 consecutive trading sessions. Rising oil prices and the stalled negotiations with Iran added further pressure on crypto markets. While global equities reached record highs in this environment, digital assets failed to join the rally.Stocks hit records, crypto lags behindDuring Monday’s Asian session, the MSCI All Country World Index rose 0.2%, while Asian equities climbed 1.1% to reach an all-time high. Technology indexes in South Korea, Taiwan and Japan also set fresh records at the same time.Nasdaq 100 futures rose 0.6% after Nvidia announced that it would directly compete with Intel and AMD in the Windows laptop market. SoftBank, meanwhile, surged as much as 11% thanks to its investments in OpenAI and Arm, moving closer to becoming Japan’s most valuable publicly traded company.Oil complicated the picture. Brent crude rose above $93 per barrel after attempts to reopen the Strait of Hormuz failed and tensions in the Middle East continued. This development weighed on Treasury bonds.Crypto, however, could not keep pace with the equity rally. Over the past seven days, Bitcoin fell 4.6% to $72,800. Ethereum and Solana lost 4.6% and 3.7% over the same period, dropping to $1,996 and $81.89, respectively. TRON declined 3.7%, while Dogecoin slipped 1.6%. 10 sessions, $2.97 billionOutflows from U.S. spot Bitcoin ETFs began on May 15, continued without interruption until May 29, and removed $2.97 billion from the market during this period. The streak surpassed the eight-session outflow run recorded at the beginning of 2025, marking a new record.The single-session outflow on May 27 reached $733 million, the highest daily outflow figure seen since January. According to SoSoValue data, total net assets in U.S. spot Bitcoin ETFs fell from $104.29 billion on May 15 to $94.17 billion as of May 30.The situation in Ethereum ETFs is even heavier. These funds have now seen 14 consecutive sessions of outflows, while roughly $2.6 billion in net assets has been erased over the same period.The only bright spot: HYPEWhile the broader picture remained this dark, Hyperliquid’s HYPE token moved in the opposite direction. HYPE rose 18.7% over the past seven days to reach $73.17, becoming the only asset among the top 10 cryptocurrencies by market capitalization to post a positive performance.The U.S. spot HYPE ETF, which began trading on May 12, has recorded net inflows in every session since its launch. Its cumulative net assets exceeded $122 million as of May 30. Analysts link this interest to Hyperliquid’s strong growth in decentralized derivatives trading volume and protocol revenue.The macro backdrop works against cryptoOil remaining above $93 and the continued deadlock in the Iran nuclear agreement have removed the macro support crypto markets had been waiting for. ETF inflows, which fueled last year’s rally, moved in the opposite direction for 10 consecutive sessions, while there was no meaningful relief in bond yields.The emerging consensus is that some institutional investors appear to have reduced their risk appetite. Whether Bitcoin can hold the $70,000 range and when ETF outflows will stabilize are among the key questions for the coming week.
FCA Approved: Aave Is Now in the UK
Aave Labs, one of the biggest names in decentralized finance, has cleared an important regulatory threshold in the UK. The company’s UK subsidiaries, Push Labs Ltd. and Push Virtual Assets Ltd., have received registration approval from the Financial Conduct Authority (FCA) as cryptoasset exchange providers.The two companies, both operating under the “Push” brand, are now registered under the UK’s anti-money laundering rules. In addition, the company also holds Electronic Money Institution (EMI) authorization under the Electronic Money Regulations 2011. Together, these approvals give Aave Labs the ability to build end-to-end fiat-to-crypto infrastructure in the UK.For now, the practical goal is clear: allowing users to transfer money directly from their bank accounts to Aave with zero fees, without leaving the app.Aave Labs founder and CEO Stani Kulechov said the FCA EMI authorization and cryptoasset registrations provide the regulatory foundation needed to offer zero-fee on-chain consumer financial products in the UK.A Growing License Map in EuropeThese approvals mark the continuation of Aave Labs’ regulatory expansion across Europe in recent months. In November 2025, the company’s Irish subsidiary received a Crypto-Asset Service Provider license from the Central Bank of Ireland under MiCA. That license gives the company passporting rights across the entire European Economic Area.After Brexit, the UK remained outside the EU framework, which meant a separate license was required. Aave Labs has now completed that step as well. The company is now positioned to operate under regulatory coverage both in continental Europe and in the UK.Aave also remains the largest on-chain lending market by total value locked.Funding, Products, RegulationThe timing of these approvals is also notable. In April, the Aave DAO approved a $25 million grant to the company. Around the same period, development work on Aave V4 and the GHO stablecoin also gained momentum. Taken together, the picture shows Aave Labs following a systematic path beyond its DeFi protocol identity and moving into licensed consumer finance.There is also continued activity on the FCA side. In April, the regulator launched a consultation process on stablecoin issuance rules, trading platforms and custody services. Formal licensing applications are expected to open in September 2026, while the broader framework is expected to come into force in October 2027.Aave Labs has secured its approvals before this timetable is fully finalized. While much of the sector is still waiting in line, the company has already taken its place in the UK.At the time of writing, AAVE was trading at around $82.81.
Binance Alpha Removes 12 Tokens From Its List
Binance has removed 12 tokens from the featured list on its Alpha platform as part of its regular standard reviews. According to the official announcement published on May 29, 2026, the tokens in question no longer meet the platform’s criteria. The removal took effect today at 09:00 Turkish time.Binance Alpha is a platform within the Binance ecosystem designed to give visibility to early-stage crypto projects. Its listing standards are reviewed regularly, and these reviews sometimes result in bulk removals. This time, 12 tokens were removed from the list at once.The tokens removed from the list are as follows: DIGI (MineD), K (Sidekick), SKI (Ski Mask Dog), JOJO (JojoWorld), PLAYSOLANA (Play Solana), 恶俗企鹅 (the three-dimensional William Tell penguin project), PAL (Palio), TYCOON (Dino Tycoon), HIPPO (Sudeng), LN (Lnfi Network), BNBXBT and BOOM (Boom). Selling and withdrawal transactions will continueAlthough the tokens have been removed from the featured list, users will still be able to sell and withdraw their existing holdings. There are two ways to do this. First, users can go to the [Assets] tab in the Binance Alpha app, then select the [Alpha] section and choose the relevant token through the Withdraw option. Second, they can select the relevant token from the same tab and follow the Instant > Sell steps. Binance Wallet users can also continue trading by searching for the tokens through the [Market] tab.Alpha tokens are always a risky categoryIt is worth remembering that, due to the structure of Binance Alpha, these types of tokens carry a high risk of price volatility. The platform advises users to do their own research (DYOR) before trading these tokens and to apply sufficient risk management. After all, Alpha’s purpose is to give visibility to early-stage projects that have not yet fully matured. Therefore, tokens being periodically added to or removed from this category is not unusual; it is part of the platform’s routine operation.In this context, the removal of these 12 tokens from the list does not mean that their value has gone to zero or that the projects have ended. Binance has made an assessment that these tokens no longer meet its standards; however, users can still dispose of their assets as they wish. That said, investors who hold any of these tokens would benefit from closely following the latest developments.Why were so many tokens removed at once?Binance removing such a large group from the list at the same time is noteworthy. In its announcement, the exchange stated that the tokens “did not meet its standards,” but it did not share detailed information on which criteria led to this conclusion. These types of bulk removals usually come up due to factors such as suspicious trading volume, halted project activity, or security concerns.
What Is zkPass (ZKP)?
zkPass (ZKP) is a zkTLS-based data verification protocol that aims to convert private Web2 data into privacy-preserving verifiable proofs. The main idea behind the project is to allow users to verify data such as bank accounts, identity information, social media profiles, education history, gaming achievements or platform-based reputation without showing that raw data to third parties.This approach responds to an important problem that the Web3 ecosystem has been facing for a long time. Blockchain applications offer open, transparent and verifiable infrastructures, but they cannot directly access users’ real-world data on the Web2 side. In traditional verification processes, users often have to upload documents, share screenshots, connect to a centralized application programming interface (API), or hand over their personal data to another platform. zkPass steps in at this point and makes it possible to share cryptographic proof about the data, rather than the data itself.According to official documents, zkPass generates proofs locally in the user’s browser or on the user’s device. This means raw personal data is not transferred outside the user’s environment; only the necessary attributes for verification are turned into proofs. The project positions this model as a data verification layer that can be used across areas such as artificial intelligence, decentralized physical infrastructure networks (DePIN), digital identity, decentralized finance (DeFi), credit mechanisms, governance and compliance.ZKP is the native token of the zkPass ecosystem. There is an important distinction here: ZKP is also the abbreviation for “zero-knowledge proof.” However, in this guide, unless stated otherwise, ZKP refers to the zkPass token.zkPass: Definition and OriginsIn its simplest form, zkPass is a privacy-focused protocol that makes Web2 data verifiable for Web3 applications. It allows users to prove that they meet a certain condition without directly sharing their private data. For example, a user can show that their credit score is above a certain level without revealing their full credit score, identity or financial history.The project’s starting point is the fact that data on the internet is often visible, but not always verifiable. A screenshot can be altered, a document can be fake, and a social media account can be presented as if it belongs to someone else. In traditional systems, verification usually requires centralized intermediaries, API access or document upload processes. This creates additional risks for both user privacy and data security.zkPass’s technical approach brings TLS, multi-party computation (MPC) and zero-knowledge proofs into the same architecture. The official technical document states that the protocol is built on three-party TLS, multi-party computation and interactive zero-knowledge proof structures. The goal is to prove that data accessed via HTTPS really comes from the relevant source, without exposing the user’s sensitive information.For this reason, it would be incomplete to see zkPass only as an identity verification solution. The project targets a broader idea of a “verifiable internet.” According to this idea, users can turn the data they generate across different platforms into portable, verifiable and privacy-preserving proofs. This allows data that remains locked inside Web2 to be used more securely within Web3 applications.zkPass History: Key MilestonesThe technical foundation of zkPass dates back to 2022. Project summaries associate the first half of 2022 with technical architecture design, feasibility analysis and initial solution tests. In the second half of the same year, work reportedly continued on the multi-party zkPass prototype, PLONK19 and TLS 1.2 implementations. In the first half of 2023, the three-party TLS protocol was developed, the MPC network was expanded and the project moved into the pre-testnet phase.May 2023 marked an important technical milestone for zkPass. The project’s technical document was updated on May 22, 2023, and the core problem of the protocol was clearly defined. Users can securely access private data via HTTPS, but they have difficulty proving to third parties, in a privacy-preserving way, that this data truly came from a specific website. zkPass aimed to close this gap through 3P-TLS, MPC and zero-knowledge proof structures.In August 2023, the project announced a $2.5 million seed funding round. Participants included Sequoia China, Binance Labs, OKX Ventures, dao5, SIG DT Investments, Leland Ventures, Cypher Capital and Blockchain Founders Fund. zkPass stated that the funding would be used to accelerate the pre-alpha testnet process and expand the developer team. The same announcement also noted that the project had reached more than 190,000 waitlist registrations.The second half of 2023 and the 2024 period can be seen as a phase of product development and ecosystem expansion for zkPass. Tools such as TransGate focused on turning selected data from any HTTPS website into verifiable proofs. Official announcements stated that TransGate could be used for different types of data, including identity, financial records, health information, social interactions, work history and educational certificates.On the token side, ZKP became more visible in late 2025 and early 2026. The ZKP token was listed on Binance on January 7, 2026, and started trading with the Seed Tag. Trading pairs opened on Binance included ZKP/USDT, ZKP/USDC and ZKP/TRY.ZKP’s all-time high is reported to be around $0.23. As of May 2026, the ZKP price is trading around $0.0690638. Why Is zkPass Important?zkPass is important because it touches one of Web3’s most fundamental gaps. Blockchain networks are powerful when it comes to verifying transactions within their own systems, but they struggle to directly verify off-chain data. A user’s banking history, social media reputation, education certificate, gaming achievement or platform membership does not naturally exist on the blockchain. This data remains on Web2 platforms.This creates a major gap, especially in DeFi, digital identity and reputation systems. A DeFi protocol usually relies on overcollateralized lending models because it does not know the user’s credit history. A decentralized autonomous organization (DAO) may want to look at social or professional background as a membership criterion, but may not want to turn this into a centralized KYC process. A game or social platform may want to reward a user’s achievement on another platform, but screenshots are not reliable enough.zkPass highlights the idea of “verification without sharing raw data.” The user can prove only the required condition without revealing the full data. For example, statements such as “I am over 18,” “I have an account on a specific platform,” “I have more than a certain number of followers,” or “I meet a certain financial criterion” can become verifiable.This model is also important from the perspective of data ownership. Instead of handing over their data completely to a centralized intermediary, the user uses a proof generated from that data. This reduces the data storage burden for third parties and limits the risk of data leaks. Official documents also state that sensitive data does not leave the device and that proofs only reveal the attributes needed for verification.How Does zkPass Work?To understand how zkPass works, it is useful to first look at a standard internet connection. When a user connects to their bank, e-commerce account or social media profile via HTTPS, a secure TLS connection is established between the browser and the server. This connection encrypts the data and prevents third parties from reading the content. However, the traditional TLS structure does not make it easy for the user to later prove to a third party that “this data really came from this website.”zkPass expands TLS into a three-party model at this point. According to the official technical overview, the protocol involves three parties: the prover, the verifier and the data source. The prover is the user and accesses their own data. The verifier is the party that checks the verification process. The data source is the HTTPS server from which the data comes. The user accesses the data and then proves, through a zero-knowledge proof, that the data satisfies a certain condition. The verifier checks the proof without seeing the user’s raw data.What Is zkTLS?zkTLS can be understood as the technological layer that makes the source of data coming from a TLS connection verifiable while preserving privacy. Normal TLS provides secure communication between the user and the website. zkTLS, on the other hand, aims to make the data produced through that secure communication provable to third parties.In zkPass’s approach, zkTLS works together with the three-party TLS model. The user wants to prove that they received data from a specific website. However, while producing this proof, the user does not have to reveal their entire account, document content or personal information. For this reason, zkTLS plays a critical bridging role in moving Web2 data into Web3.3P-TLS, MPC and Zero-Knowledge ProofszkPass uses three main technologies: 3P-TLS, MPC and zero-knowledge proofs. 3P-TLS adds a third verification party to the TLS process and helps check the source of the data. MPC allows the parties participating in the computation process to perform a joint verification without seeing each other’s private data. Zero-knowledge proofs allow the user to prove that a statement is true without revealing the raw data behind that statement.The official technical document states that zkPass brings together 3P-TLS, MPC and zero-knowledge proof structures. This approach aims to help users prove statements about data accessed via HTTPS while preserving privacy. It specifically focuses on reducing the risks of fake documents, manipulated screenshots and centralized verifiers.Hybrid ModeHybrid mode plays an important role in zkPass’s technical architecture. According to the official technical overview, zkPass uses a hybrid structure that combines proxy mode and MPC mode. In proxy mode, the user communicates with the data source through the verifier. In MPC mode, the user and the verifier form a client structure that acts together during the connection process with the server.This hybrid approach was developed to adapt to different web server conditions. Some servers support certain connection types, while others may limit requests coming from different IP addresses under the same account. In such cases, zkPass aims to make the protocol more flexible by switching to MPC mode when needed. The technical overview also states that MPC mode is not the preferred model in every situation, but is used more as a backup mechanism under certain server restrictions.What Is the ZKP Token Used For?ZKP is the native utility token of the zkPass ecosystem. According to the official token document, ZKP is designed as an ERC-20 token and has a total supply capped at 1 billion. The document states that the token has a fixed supply, does not include inflation, and has a deflationary mechanism through the burning of part of settlement fees. A periodic buyback mechanism managed by the DAO is also included in the token documentation.The first use case of ZKP is the proof settlement process. In the zkPass ecosystem, ZKP is used as a functional unit in processes such as proof generation, verification and verifier operations. This shows that the token is designed not only as a tradable asset, but also as a payment and coordination tool connected to the protocol’s operating logic.The second use case is the verifier collateral mechanism. Verifiers provide ZKP collateral to support network accuracy, uptime and reliability. This model supports the verification infrastructure with economic incentives.The third use case is network credits. ZKP can be used as an on-chain credit unit for verifiable computation, integrations and recording network contributions. The fourth area is developer and institutional access. Companies and developers can use ZKP to access zk-compatible verification interfaces and privacy-focused data infrastructure.Finally, ZKP plays a role in governance and cross-system verifiability. Official documents state that the token supports decentralized coordination and is connected to ecosystem activities such as auditing and maintenance.ZKP TokenomicsZKP tokenomics is built on a fixed total supply of 1 billion tokens. The official zkPass documentation lists the token standard as ERC-20, while cross-chain distributions follow LayerZero’s OFT standard. This structure aims to maintain a unified total supply and consistent token state across supported networks. The official document lists verified contract addresses on Ethereum mainnet, BNB Smart Chain and Base.The largest allocation goes to the community category. The community allocation represents 48.5% of the total supply. Of this, 12.5% unlocks at the token generation event, 6% unlocks linearly over the first three months, and the remaining 30% is distributed monthly over five years starting from the token generation event. This category is reserved for ecosystem growth, reward distributions, network incentives, community sales, exchange-related marketing and strategic partnerships.The early investors category receives 22.5% of the supply. This portion has a 12-month cliff period followed by an 18-month linear vesting model. The allocation for core contributors is 14%. This portion has a 24-month cliff period followed by a 24-month linear vesting structure. The DAO treasury receives 10% and unlocks through five-year linear vesting. The liquidity category receives 5% and fully unlocks at the token generation event. The official document states that there is 0% unlock for the team and investors at launch, while the circulating supply is limited to community participation and liquidity. This structure highlights community and liquidity in the early stage, while team and investor tokens are tied to a time-based vesting schedule. Still, when evaluating tokenomics, it is important to look not only at allocation ratios but also at whether use cases create real demand, as well as network growth, verification volume and market liquidity.zkPass Use CaseszkPass use cases are shaped around scenarios where Web2 data can be used securely in Web3 applications. The first major area is decentralized identity. Users can prove their age, citizenship, account ownership, membership status or a specific identity criterion without sharing raw documents. This is especially important for transforming KYC processes into models that collect less data.On the DeFi side, zkPass can be used for credit and reputation systems. In existing DeFi lending models, users often have to provide high collateral because the protocol does not know their off-chain financial history. With zkPass, a user can prove that their credit score, income level or account balance is above a certain threshold. In the long term, this could support the development of more flexible lending models.Reward distribution and task verification also offer notable use cases. A project may want to prove that a user is genuinely active on a specific platform, manages a certain account or has completed certain tasks. If this verification is done with screenshots, manipulation risk emerges. zkPass can make this process more secure through proofs that verify data from its source.A similar logic applies to social media and the creator economy. A content creator can prove that they have passed a certain follower threshold or that they own a specific social media account. However, they do not have to reveal their follower list, private messages or other sensitive account data. This structure can be used for DAO memberships, campaign access, brand collaborations or gated communities.In gaming and education, user achievements come to the forefront. Achievements from services such as Steam, Epic Games, Duolingo, GitHub or educational platforms can be used as reward, access or reputation criteria in Web3 applications. The official document also gives examples of producing zero-knowledge proofs from Web2 data sources such as Binance, Duolingo and LinkedIn.On the institutional side, compliance, data verification and customer criteria stand out. An institution may want to know that a user meets certain conditions, but may not want to store more data than necessary. Protocols like zkPass try to bring data minimization and verification needs into the same framework.zkPass Developers and CommunityzkPass is described in public project summaries as a project founded in 2022. On the team side, Bing Jiang and Joshua Peng stand out. These sources list Bing Jiang as co-founder and chief executive, and Joshua Peng as co-founder and chief technology officer. Joshua Peng is also said to have a University of Missouri background and to work on the technical research side. Source: Rootdata The project’s vision is shaped around building an infrastructure that makes private internet data verifiable. zkPass explains this vision through the idea of a “verifiable internet.” This concept refers to internet data moving beyond being merely visible or self-declared and becoming cryptographically verifiable.On the community side, zkPass’s growth is supported through testnets, campaigns, reward distributions, developer tools and integrations. In its 2023 seed funding announcement, the project stated that it had reached more than 190,000 waitlist registrations for the pre-alpha testnet. Later, campaigns such as the Binance Wallet Booster Program encouraged users to participate in processes such as proof generation, social tasks and delegation. The official document states that a total reward pool of 30 million ZKP was allocated for this campaign.On the governance side, the ZKP token has a role connected to DAO coordination and ecosystem management. The official token document states that ZKP will be used for functions such as proof settlement, verifier collateral, network credits, service access and governance/coordination.Frequently Asked Questions (FAQ)Below are some frequently asked questions and answers about zkPass:What is zkPass and when was it launched?: zkPass is a zkTLS-based data verification protocol that aims to convert Web2 data into privacy-preserving verifiable proofs. The project’s technical work dates back to 2022, while its technical document was published on May 22, 2023. It became more visible in 2023 through the pre-alpha testnet and funding process.Who developed zkPass?: Public project summaries highlight Bing Jiang and Joshua Peng in the zkPass team. These sources list Bing Jiang as co-founder and chief executive, and Joshua Peng as co-founder and chief technology officer. The project’s technical focus is built around zkTLS, MPC and zero-knowledge proofs.What is the ZKP token used for?: The ZKP token is used in areas such as proof settlement, verifier collateral, network credits, service access and governance/coordination. According to official documents, ZKP works as a utility token designed for verification, network participation and protocol-level economic coordination within the zkPass ecosystem.What problems does zkPass aim to solve?: zkPass aims to allow users to verify private Web2 data without sharing it raw with third parties. This model focuses on reducing risks related to fake documents, manipulated screenshots, centralized API dependency, excessive data sharing and data leaks.Is zkPass suitable for investment?: zkPass is technically a notable project in the field of privacy-focused data verification. However, the ZKP token is subject to the volatile nature of the crypto market. Token unlocks, liquidity, network usage, regulatory risk and general market conditions should all be evaluated together before making an investment decision. This text is not investment advice.Which network does zkPass run on?: According to the official token document, ZKP is an ERC-20 token. Verified contract addresses have been published on Ethereum mainnet, BNB Smart Chain and Base. Cross-chain distributions follow LayerZero’s OFT standard.What is zkTLS?: zkTLS is the technological layer that makes the source of data coming through HTTPS verifiable while preserving privacy. zkPass uses this structure together with 3P-TLS, MPC and zero-knowledge proofs to generate proofs from private internet data.How does zkPass protect privacy?: In zkPass, proofs are generated on the user’s device or in the browser. Raw data is not transferred to third parties. The verifier only checks cryptographic proof showing that a certain statement is true. This allows the verification process to take place without sharing more personal information than necessary.For the latest information on zkPass and privacy-focused Web3 data verification solutions, follow the JR Kripto Guide series.
Sui Mainnet Halted: Network Unable to Process Transactions for Hours
Sui, positioned as a rival to Ethereum and Solana, has stood out as one of the layer-1 blockchains known for high transaction speed and low fees since its 2023 launch. Developed by Mysten Labs, a company founded by former members of Meta’s canceled Diem project, the network has become an attractive infrastructure option especially for DeFi and blockchain-based gaming applications. However, on Thursday, Sui’s mainnet went down and transactions came to a halt.Sui Network Comes to a HaltThe mainnet of Sui, the layer-1 blockchain developed by Mysten Labs, went down on Thursday. The network was unable to produce new blocks for nearly two hours, and all transactions were suspended during that period. The Sui team issued an official statement on X regarding the outage: “Sui Mainnet is currently experiencing a network pause. The Sui Core team is actively working on a resolution. Please note that transactions may be paused at this time.” Data from block explorer SuiScan confirmed that the network had failed to produce new blocks for an extended period. Updates on the status page stated that the issue was identified at 19:36 and that the fix had reached the implementation stage.This Is Not the First TimeFor Sui, this is not an unfamiliar picture. In fact, it marks the network’s third notable outage. The previous two incidents occurred in November 2024 and January 2026. During the January outage, developers also spent hours bringing the network back online.Launched in 2023, Sui is one of the new-generation layer-1 networks positioned as a competitor to Ethereum and Solana. High transaction speed and low fees are among its core selling points. The network was developed by a team that split off from Meta’s canceled Diem stablecoin project.After news of the outage spread, the network’s native token SUI fell by 8% over the past 24 hours. However, it is difficult to say whether this decline was directly caused by the outage or whether it coincided with broader market conditions, as crypto markets were also showing a mixed performance during the same period. At the moment, there is no information suggesting that user funds have been affected.Blockchain outages become an especially critical issue when the networks involved provide infrastructure for DeFi and gaming applications. If a protocol defines itself as high-performance infrastructure, a network halt lasting for hours clearly conflicts with that image. Developers and investors have a strong reason to monitor such incidents closely, as ecosystem reliability is a decisive factor for institutional integrations and large-scale applications.The Sui team said it will continue to share further updates as the investigation progresses.
VanEck’s Tokenized U.S. Treasury Fund Goes Live on Euler
VanEck’s tokenized U.S. Treasury fund, VBILL, has gone live on the Euler lending platform. Securitize, which issues the fund and provides its tokenization infrastructure, announced on Thursday that the product is now available across Euler’s lending markets.Investors can now use tokenized Treasury bills as on-chain collateral to borrow and deploy liquidity elsewhere. Compliance restrictions remain in place throughout the process.The tokenized Treasury market has gained strong momentum in recent months. According to RWA.xyz data, total assets in this segment have surpassed $15 billion, marking growth of around 150% over the past year. Major asset managers such as BlackRock, Franklin Templeton and Janus Henderson have already launched Treasury and money market products for institutional investors seeking on-chain yield.So how large can this market become? Standard Chartered expects tokenized assets to reach $2 trillion by 2028. A joint projection from BCG and Ripple points to $18.9 trillion by 2033.DeFi Protocols Open the Door to Institutional CapitalEuler initially operated as a fully permissionless lending protocol. Earlier this year, the platform began shifting toward institutional use cases. Euler, which currently holds more than $320 million in assets, has integrated Securitize’s DS Protocol into its system. This integration allows tokenized securities to interact with lending markets while preserving investor eligibility requirements and transfer restrictions. Price data for VBILL is provided through RedStone oracles.Rival platform Aave has followed a similar path. Aave launched Horizon, a real-world asset platform focused on institutional borrowers and tokenized collateral.Graham Ferguson, head of ecosystem at Securitize, commented on the development: “There are now protocols that are eager to integrate permissioned assets. That wasn’t really the case before.”According to Ferguson, the main issue is balancing crypto’s open infrastructure with the compliance expectations of traditional financial institutions. As serious institutional investors enter the space, they need certain protection and permission structures they are already familiar with. “DeFi protocols are finally realizing that if they want to attract this capital, they need to change the way they operate,” Ferguson said.The Structure Is ChangingThe VBILL-Euler integration is part of a broader trend in which DeFi protocols originally designed for permissionless crypto assets are making architectural adjustments to open the door to the institutional world. For institutional investors seeking yield-bearing on-chain collateral, tokenized Treasury bills have become an attractive option. Yet this interest is also forcing DeFi to confront a fundamental tension: openness or compliance?For now, platforms such as Euler and Aave appear to be answering that question with both. They are reshaping their infrastructure to support permissioned assets, but how this will affect protocol architecture and the principle of decentralization in the long run remains unclear.In contrast to the VanEck development, the EUL price is declining. Bitcoin fell below $73,000 in the early hours of the morning, starting the day under pressure. Most altcoins were also affected by this move. EUL lost 10.27% in the past 24 hours and traded in the $1.14–$1.35 range. Despite the positive atmosphere created by the news, the token could not escape the broader market pressure.
Bitcoin Fails to Break Resistance as Options Price in $55K
The crypto market is hovering just above a critical threshold on Wednesday. Bitcoin (BTC) failed to break the $78,000 resistance on Tuesday and is now stuck above the $75,000 support, but below $76,000. That distinction is not trivial. Bitmine Chairman Tom Lee had said the end of the bear market could only be confirmed if BTC closed May above $76,000. For now, we are below that line. Ethereum is not showing a very different picture. After being rejected from the $2,150 resistance on Tuesday, ETH slipped toward the $2,000 support. On Wednesday morning, it bounced from $2,050 and was trading around $2,080. The technical outlook, however, raises doubts. ETH has broken the uptrend line it had held since February, opening the door to deeper losses.AI Tokens Give Back Their GainsAfter Tuesday’s rally, closely watched AI tokens RENDER, FET and NEAR lost between 1% and 3% since midnight. The move has not created broad panic, but the overall altcoin picture remains cautious.Two exceptions stand out. Hyperliquid’s HYPE token rose 5.5% after hitting a record high this week. Monero also gained 5%, retesting the $400 level. Both have become bright spots in an otherwise thin altcoin market in recent days.The broader picture contrasts with equities. S&P 500 and Nasdaq 100 futures tested record levels on Wednesday, rising around 0.3%. As U.S. stocks continue to diverge from crypto, questions about the correlation between these two asset classes are moving back to the top of the agenda.There Is a Quiet Warning in FuturesAfter the holiday weekend, futures trading volumes rose 54% to $201 billion on a 24-hour basis, while liquidations jumped 87%. These large percentage increases can primarily be explained by the end of the holiday lull; they do not necessarily reflect a structural shift.Still, there is a more striking picture in the background. Bitcoin fell 1% over the past 24 hours, while open interest climbed from 704,000 BTC to 740,000 BTC. When price falls while open interest rises, the combination is usually interpreted as confirmation of a downtrend. Negative cumulative volume delta (CVD) also shows that market participants are selling aggressively, while funding rates remain neutral for now.There is also a concerning signal on the Ethereum side. ETH open interest has reached an all-time high of 15.57 million ETH. When this appears alongside negative CVD, it may suggest that traders are positioning for deeper price declines.Zcash (ZEC) is showing the opposite setup. Open interest in ZEC futures has fallen for a third consecutive day, while the price has dropped to $564. When price and open interest decline at the same time, it is often driven by the closing of existing long positions rather than the opening of new short positions.Deribit Data Points to Downside BetsBitcoin’s 30-day implied volatility index, BVIV, rose by around 3% to 37.35, breaking a 10-day losing streak. This recovery from yearly lows may indicate that the market is starting to seek protection against a potential price shock.The options market sends a clearer signal. According to Deribit data, the most traded contract over the past 24 hours was a put option pointing to Bitcoin falling to $55,000 by the end of September. Overall activity is concentrated around downside hedges at various strike prices between $70,000 and $76,000.In short, the market still does not know where it wants to go. Bitcoin is holding just above the $75,000 support, but Tom Lee’s $76,000 line remains out of reach. Futures, implied volatility and options positioning all point in the same direction: investors are preparing for downside.
Crypto Funds See $1.47 Billion in Outflows as 9 Altcoins Stay Positive
Crypto investment products saw $1.47 billion in outflows this week. This marks the third-largest weekly outflow of 2026 and the second consecutive negative week. It is the sharpest selling wave since the twin $1.7 billion outflow weeks recorded at the end of January.According to CoinShares’ weekly report, cumulative outflows over the past two weeks reached $2.54 billion. Despite progress around the CLARITY Act, risk appetite continues to weaken due to Iran-related geopolitical concerns, and this pressure is now spreading geographically.Bitcoin Records Its Largest Weekly Outflow of 2026Bitcoin funds ended the week with $1.315 billion in outflows. This figure surpassed the late-January peak, making it the largest weekly BTC outflow of 2026. Year-to-date cumulative inflows into Bitcoin fell from $3.9 billion to $2.6 billion. In other words, $1.3 billion was erased in a single week.U.S.-based spot Bitcoin ETFs also posted $1.26 billion in outflows, marking their worst week since late January.Ethereum was also affected by the broader pressure. ETH products recorded $222.8 million in outflows, almost unchanged from the previous week. Ethereum’s year-to-date cumulative flow has now turned negative at minus $89 million.Selective Interest in Altcoins Continued, But WeakenedAlthough the broader picture remained negative, some altcoin funds managed to stay in positive territory. XRP funds saw $31.8 million in inflows, while Solana received $7.7 million, Sui attracted $2.9 million, and multi-asset products recorded $4.7 million in net inflows.Short Bitcoin products also saw $10.2 million in inflows. Chainlink attracted $0.6 million, while Litecoin recorded $0.4 million in weekly inflows. Weekly data for Zcash was not disclosed. The number of assets with meaningful inflows above $1 million fell from 11 in the previous week to 9. Selling Is No Longer Just a U.S. StoryLast week, Europe’s resilience had drawn attention. This week, the picture reversed. The U.S. accounted for most of the outflows with $1.425 billion, but the selling wave has now taken on a more global character.Switzerland saw $16.2 million in outflows, Canada recorded $12.5 million, and Hong Kong posted $12.2 million in outflows. Germany remained practically flat. Europe, which had been the exception last week, is now part of the broader pressure.Provider BreakdowniShares was the most affected provider, with $1.191 billion in weekly outflows. Fidelity saw $129 million leave its products, while ARK 21Shares recorded $107 million in outflows. Grayscale’s outflows were relatively limited at $12 million.Bitwise and 21Shares AG remained slightly positive, each recording $1 million in inflows. Total assets under management were reported at $148.7 billion. The weekly outflow represented roughly 1% of that total.CoinShares Head of Research James Butterfill noted in the report that Iran-linked geopolitical pressure continues to weigh on the market. Positive developments around the CLARITY Act have not been enough to halt the outflow trend for now.The two-week cumulative outflow figure of $2.54 billion points to a serious shift in sentiment for 2026. For the market to recover, geopolitical risks may need to ease or a new institutional catalyst may need to emerge. For now, both conditions remain uncertain.
Ondo Finance Founder Passes Away Unexpectedly at 32
Nathan Allman, the founder of Ondo Finance, has died unexpectedly at the age of 32. The company did not disclose the cause of death.Ondo Finance announced the news in a post on X, saying, “It is with deep sadness that we announce the unexpected passing of Ondo’s founder, Nathan Allman. Our hearts are with his family and loved ones.” The company said Allman’s intelligence, humility and determination shaped Ondo into what it is today. “His belief that technology could create a more open and accessible financial system will live on in everything we build,” it added. Who was Allman?After graduating from Brown University, Allman worked on Goldman Sachs’ digital assets team. In 2021, he founded Ondo Finance and became one of the leading names in the tokenization of real-world assets, or RWA. Under his leadership over the past four years, Ondo accumulated around $3.86 billion in tokenized assets on-chain. Its portfolio includes Treasury securities, equities and commodities, with more than 111,000 asset holders.Products launched during this period include USDY, a yield-bearing stablecoin; OUSG, a tokenized U.S. Treasury fund; and tokenized equities offered through Ondo Global Markets.Leadership changeFollowing Allman’s death, Ian De Bode became the company’s new CEO. De Bode joined Ondo as Chief Strategy Officer in March 2024 after leading McKinsey’s digital assets unit, and was promoted to President in November 2025. The company confirmed that De Bode, who had effectively led strategy, product and day-to-day operations for more than two years, has the full confidence of the leadership team.Ondo closed its announcement with the words: “We will continue building the work Nate started. We believe that is the most meaningful way to honor him.”The industry loses a major figureAllman was one of the few early believers who focused on RWA tokenization when the field was still considered niche, helping bring it closer to the mainstream. His death at the age of 32 is a significant loss not only for Ondo, but also for the broader tokenized finance ecosystem that has gained momentum in recent years.Ondo Finance stakeholders and industry figures shared condolence messages on social media, while the market is now watching how the team under De Bode’s leadership will shape the company’s roadmap in the coming period.Impact on ONDO priceFollowing the news, ONDO fell 4.54% in 24 hours to $0.4205. The token traded between $0.4095 and $0.4440 during the day. With a market capitalization of $2.04 billion, ONDO had gained 59.85% over the past 30 days, showing strong performance. However, the uncertainty created by the loss of its founder brought short-term selling pressure.
What Is United Stables (U)?
United Stables (U) is a stable crypto asset designed to operate with a 1:1 peg to the U.S. dollar. This type of asset, more commonly known in the crypto market as a “stablecoin,” generally aims to keep its value close to a traditional currency such as the dollar. Since U Coin has this structure, it is evaluated more by its ability to maintain its dollar peg than by expectations of price appreciation.The main goal of United Stables is to make dollar usage on blockchain more organized, faster, and more efficient. Today, the crypto market uses many dollar-linked assets such as USDT, USDC, USD1, and similar stablecoins. However, when these assets create separate liquidity across different networks, exchanges, and decentralized finance applications, market depth can become fragmented.U Coin stands out with its claim of bringing this scattered structure together under a single dollar layer. Instead of letting different dollar-pegged assets operate in disconnected ways, the project aims to make them usable within a shared transaction and payment infrastructure. According to its official website, U is defined as a U.S. dollar-linked stablecoin issued by United Stables Limited and operating on BNB Chain and Ethereum.Definition and Origins of United StablesUnited Stables was developed to create a more unified dollar flow in the stable crypto asset market. Rather than simply offering a new dollar asset, the project focuses on bringing together different dollar-pegged assets already used in the market within a more efficient structure.From this perspective, the starting point of U Coin is based on a common issue in the crypto market. There are many stablecoins representing the same value, but these assets are not always used in the same trading areas or with the same level of depth. USDT may stand out on one exchange, while USDC may be more common in another decentralized application. On another network, USD1 or a different dollar-linked asset may be preferred more widely.For users, this means a need for conversion, transaction costs, and fragmented liquidity. United Stables aims to reduce this fragmentation with U Coin. The project offers a model in which different dollar-pegged crypto assets can be used as collateral for minting U. According to BNB Chain, U is positioned as the first stable asset model on BNB Chain that allows dollar-backed stablecoins such as USDT, USDC, and USD1 to be used directly as minting collateral. This structure aims to gather existing liquidity within a single shared layer instead of fragmenting it further.How Does U Coin Work?The working logic of U Coin is based on maintaining its dollar peg and moving different dollar-linked assets into a shared area of use. Users or institutions provide certain backing assets to mint U. These backing assets may consist of traditional cash reserves or other dollar-pegged crypto assets considered reliable.The most notable point here is that the project does not rely only on a cash-backed model. United Stables offers a broader reserve structure in which some dollar-linked assets can also be used as collateral for minting U. In English sources, this model is called a “stablecoin-inclusive reserve model.” In Turkish, it can be explained as a “reserve model that also includes stablecoins.”Thanks to this structure, U aims to bring different dollar assets in the market together around itself. For example, instead of USDT, USDC, or USD1 creating separate areas of use, these assets are intended to be used as collateral for minting U. In this way, the project aims to provide a smoother transition between dollar-pegged assets.U’s operation on blockchain also makes transactions easier to track and simplifies connections with different applications. BNB Chain stands out with low transaction costs and a broad user base, while Ethereum is seen as an important network because of its wider decentralized finance infrastructure. U’s presence on both networks prevents the project from being limited to a single blockchain environment.What Is U Coin Used For?The main use case of U Coin is to serve as a transaction asset representing dollar value on blockchain. Users can use U in trading, decentralized finance applications, payments, and large-scale institutional transactions.On the trading side, U can be used as a dollar equivalent between different crypto assets. When users want to protect themselves against market volatility, they may move into stable crypto assets that maintain a value close to 1 dollar. For this reason, U works more like a dollar layer that provides transaction convenience than an investment asset expected to rise in price.On the decentralized finance side, U can be used in areas such as borrowing, lending, yield generation, and providing market depth. A user may deposit U into a pool to provide trading depth or carry out borrowing transactions through U. These use cases increase the importance of stable crypto assets within DeFi.On the payment side, U offers a structure that can be used for cross-border money transfers and institutional settlement. Traditional money transfers can sometimes be slow and costly. Stable assets operating on blockchain aim to make this process faster and more traceable.United Stables’ official website states that U is designed for trading, payments, decentralized finance, institutional settlement, and AI agents. This shows that the project is moving toward a broader payment and data transaction infrastructure.History of United Stables: Key MilestonesThe public journey of United Stables gained momentum toward the end of 2025. The project announced that U Coin was launched on BNB Chain and Ethereum on December 18, 2025. This launch made U accessible on two major blockchain networks from the very beginning.During the launch period, U’s main narrative was built around reducing fragmentation in the stablecoin market. The project described itself less as a new stable asset and more as a structure that aims to bring different dollar-linked assets together within a single transaction layer. For this reason, U’s history is important not only because of its launch date, but also because of the specific problem it aims to solve.The announcement from BNB Chain made U’s positioning clearer. U stood out with a model in which assets such as USDT, USDC, and USD1 can be used directly as minting collateral. This structure showed that the project is not merely trying to compete in the stablecoin market, but is also trying to unite existing dollar flows around itself.One of U’s first important milestones was its Binance listing. Binance announced that it would list United Stables on the spot market on January 13, 2026. Trading opened with the U/USDT and U/USDC pairs. Binance also launched a zero-fee campaign for these trading pairs during the listing period.This listing became an important step that increased U’s visibility. For stable crypto assets, exchange access matters not only in terms of price, but also in terms of usability. The more trading areas an asset enters, the easier it becomes for users to buy it, sell it, and move it to different applications.U’s price history should also be evaluated within this historical context. Since U is not a crypto asset that targets price growth in the traditional sense, its price history should be examined not by asking “how much did it rise,” but by asking “how close did it remain to 1 dollar?”According to market data, as of May 25, 2026, the U coin price is around $0.999. The same data shows a market capitalization of around $1.06 billion and a circulating supply of approximately 1.06 billion U. Market data shows U’s all-time high at $1.01 and its all-time low at $0.9682. This range can be used to understand how much U has deviated from its dollar peg. Small deviations are possible in stablecoins under normal market conditions, but long-lasting and deep deviations are closely watched in terms of trust.Another important topic in U’s history is its ecosystem connections. Its official website lists names such as Binance, Trust Wallet, Binance Wallet, Ceffu, HTX, TokenPocket, PancakeSwap, Venus, Lista, and SafePal.Why Is United Stables Important?The importance of United Stables comes from its focus on a core issue in the stablecoin market. Although dollar-pegged assets are widely used in the crypto market, their areas of use often remain fragmented. Separate dollar pools emerge across different exchanges, networks, and applications.This can make the user experience more difficult. A user may be using USDC in one application but may need to switch to USDT for another transaction. These transitions can create time costs, transaction fees, and price differences. U Coin aims to create a shared dollar layer that could reduce these kinds of transitions.For this reason, United Stables can be described not only as a payment asset, but also as an infrastructure that seeks to unify market depth. If the project succeeds, users may be able to move more easily between different dollar-linked assets. This could create a more organized transaction environment in decentralized finance applications.U’s operation on BNB Chain and Ethereum is also important. BNB Chain has a broad user base for fast and low-cost transactions. Ethereum, on the other hand, is considered one of the most established networks in decentralized finance. U’s presence on these two networks provides an important foundation in terms of both transaction convenience and application connectivity.In stable crypto assets, the most important issue is the reserve structure. Users want to trust that these assets will remain close to 1 dollar, that there is sufficient backing behind them, and that they can be redeemed when necessary. For this reason, the long-term success of U Coin depends not only on its technical structure, but also on how its reserves are held and how transparently they are reported.According to United Stables’ official statement, U is issued as a stablecoin linked to the U.S. dollar. It is stated that fiat reserves are held at accredited banking institutions, while digital asset reserves are held through licensed or qualified custodians. This statement shows that the project aims to build a multi-layered backing and trust framework.Still, it is necessary to be cautious in this area. In the stablecoin market, reserve statements, independent audits, and legal compliance documents are closely monitored. Users should look not only at the project’s promotional texts, but also at regularly published reports, custody structures, and legal disclosures.U Coin’s ability to maintain its value is closely tied to this trust relationship. If users trust the reserve structure, U’s chances of staying around 1 dollar become stronger. If confidence weakens, stable assets can quickly deviate from their dollar peg.Use Cases on BlockchainU Coin’s operation on blockchain separates it from traditional digital dollar systems. While dollars in a bank account move only within certain financial institutions, assets like U can move across supported networks between wallets, exchanges, and decentralized applications.This structure is especially important for decentralized finance applications. Users can use U in lending platforms, liquidity pools, or payment tools. Institutions can also benefit from blockchain-based stable assets to complete large transactions more quickly.U’s use on the payment side is also noteworthy. Cross-border transactions can sometimes take a long time in the traditional banking system. Dollar-pegged assets operating on blockchain claim to make this process faster and more traceable.The idea of payment infrastructure for AI agents also appears in the project’s current narrative. The goal here is to allow automatically operating software to make small payments or cover transaction costs directly on blockchain. Although this area is still at an early stage, U positions itself as a dollar asset suitable for these new forms of use.United Stables’ Developers and CommunityThe issuing organization behind United Stables is stated as United Stables Limited. The official website describes U as a U.S. dollar-linked stablecoin issued by United Stables Limited. The project positions itself as a “stablecoin liquidity layer” and operates on BNB Chain and Ethereum.The project’s vision is built around bringing different dollar-pegged assets closer to a single area of use. This vision points to something different from simply launching a new coin. United Stables aims to make dollar-linked crypto assets work in a more efficient and interconnected way.On the community side, U’s growth largely depends on the expansion of its use cases. In stable assets, the community structure may not be shaped around voting and decision-making processes as it is with governance tokens. Here, users’ main focus is on trust, access, transaction convenience, and market depth.Exchanges, wallets, custodial services, and decentralized finance applications play an important role in U’s ecosystem. The more wallets and applications support a stablecoin, the more likely it is to be used in everyday transactions. For this reason, not only the technical structure, but also ecosystem connections will be decisive in United Stables’ growth path.Ecosystem and PartnershipsUnited Stables’ ecosystem includes centralized exchanges, wallet providers, custodians, and decentralized finance applications. The presence of names such as Binance, Trust Wallet, Binance Wallet, Ceffu, HTX, TokenPocket, PancakeSwap, Venus, Lista, and SafePal on the official website shows that the project is trying to reach different user groups.These connections can expand U’s use cases. Exchanges make it easier to buy and sell U. Wallets help users store and transfer U. Decentralized finance applications create space for U to be used in lending, liquidity provision, and yield strategies.A strong ecosystem has special importance for stable assets. In stablecoins, minting and reserve models alone are not enough. Where users can use the asset, which trading pairs they can access, and which applications they can move it to are just as important as the technical structure.The Future of United StablesThe future of United Stables is directly connected to the growth of the stable crypto asset market. In the crypto market, dollar-linked assets are used across a wide area, from trading to decentralized finance applications. As long as this usage continues, interest in more efficient and unified dollar layers may also continue.For U Coin, the most important issue will be maintaining its dollar peg reliably. For this, the reserve structure must remain strong, transparent, and regularly traceable. In the stablecoin market, loss of trust can have very fast consequences. Therefore, United Stables’ long-term position will be shaped more by trust and usage stability than by technical features alone.Its presence on BNB Chain and Ethereum gives U a broad starting ground. However, for the project to become permanent, it needs to be used in more applications, appear in more trading pairs, and become an asset users prefer in their everyday transactions.Regulators’ approach to the stablecoin market may also be decisive for U’s future. Legal rules in the U.S., Europe, and Asia affect how stable crypto assets can be issued, how they are supervised, and which institutions can operate in this field. Therefore, U’s future depends not only on the internal dynamics of the crypto market, but also on the global regulatory process.Frequently Asked Questions (FAQ)Below, we will cover some frequently asked questions and answers about United Stables (U):What is United Stables (U), and when was it launched?: United Stables (U) is a stable crypto asset designed to operate with a 1:1 peg to the U.S. dollar. The project was launched on BNB Chain and Ethereum on December 18, 2025. U’s main goal is to move the market depth fragmented across different dollar-pegged crypto assets into a more unified structure.Is U Coin a stablecoin?: Yes. U Coin operates as a dollar-pegged stablecoin. In Turkish, this can be explained as a stable-value crypto asset. U’s goal is not to constantly increase its price, but to maintain a value close to 1 dollar.Who issued United Stables?: U Coin is issued by United Stables Limited. Its official website defines U as a U.S. dollar-linked stablecoin operating on BNB Chain and Ethereum.What is U Coin used for?: U Coin can be used in trading, decentralized finance applications, payments, institutional settlement, and programmable payment systems. Its main function is to provide a stable asset that represents dollar value on blockchain.Why does U Coin trade close to 1 dollar?: U Coin is designed to be linked to the U.S. dollar, so its price is expected to remain close to 1 dollar. This structure is supported by reserves and market transactions. The price may briefly move above or below 1 dollar, but the main goal for stablecoins is to keep these deviations limited.Which blockchain networks does U Coin operate on?: U Coin operates on BNB Chain and Ethereum. These two networks make it easier for U to reach different user groups and decentralized applications.Why does U Coin not rise much in price?: Since U Coin is a stable crypto asset, it does not target price appreciation. For this reason, U is not structured as an asset expected to rise to levels such as 2 dollars, 5 dollars, or 10 dollars. U’s success is measured by its ability to keep its value close to 1 dollar.What problems does United Stables aim to solve?: United Stables aims to solve the fragmented market depth problem in the stablecoin market. The project tries to move the scattered structure created by different dollar-pegged assets such as USDT, USDC, and USD1 into a more unified dollar layer.Is U Coin suitable for investment?: U Coin is not a classic investment asset evaluated with price appreciation expectations. Since it is a stablecoin, its main purpose is to maintain its dollar peg. Users should evaluate U by considering its reserve structure, transaction areas, legal status, and ability to maintain its dollar peg.How does the United Stables reserve model work?: United Stables uses a reserve-based model to support U’s dollar peg. According to official statements, fiat reserves are held at accredited banking institutions, while digital asset reserves are held through licensed or qualified custodians. In addition, dollar-pegged assets such as USDT, USDC, and USD1 can also be used as collateral in U minting.Follow the JR Kripto Guide series for the latest information on United Stables and the stable crypto asset market.
Warsh Era Begins: Crypto Locks Onto 5 Key Macro Data Points This Week
For crypto markets, this week will be shaped less by internal industry developments and more by economic data coming out of the United States. Inflation, unemployment, housing and growth figures will be released before markets open. All of them point to the same question: Can the Fed cut interest rates?For now, there is no cut on the table. The CME FedWatch tool and prediction markets agree that rates will likely remain unchanged at the June meeting. That view does not seem likely to shift unless an unexpected data print arrives.The most critical release of the week comes on Wednesday. The PCE Price Index, the Fed’s preferred inflation gauge, has a direct impact on markets. The previous reading stood at 3.5%. Core PCE will also be released on the same day. Where these two figures land could have a serious short-term impact on risk appetite. But this week’s macro calendar is not limited to PCE. Five major data releases are coming back to back.On Monday, the U.S. CB Consumer Confidence Index will be released with a May forecast of 92, compared with 92.8 in the previous month. A slight decline could signal weaker consumer spending appetite.Wednesday brings the most important part of the calendar. The PCE Price Index and Core PCE will be released; weekly jobless claims will also arrive on the same day. The jobless claims figure, expected at 212,000, directly affects how the Fed assesses the employment side of the economy. April New Home Sales will also be published on Wednesday, with expectations at 670,000. As a highly rate-sensitive sector, the housing market both reacts to Fed decisions and offers guidance for future policy.The week will close on Friday with the Chicago PMI. The May figure is expected at 49.5 and will measure manufacturing activity. If it stays below 50, the signal of economic slowdown will become stronger.The most interesting development for crypto, however, is not a monetary policy move, but a change of name. Kevin Warsh officially begins his term as Fed Chair this Monday. It remains unclear how Warsh will steer interest rate policy; any early signals he gives this week will be closely watched.What is happening on the crypto side?In terms of token unlocks, the week is especially concentrated around May 26. Huma Finance (HUMA) will unlock around 20% of its circulating supply that day, worth $11.76 million. Plasma (XPL) will also add a $7.39 million unlock on the same day. Grass (GRASS) will go through a similar process on May 29, followed by EigenCloud (EIGEN) on June 1. These unlocks can create short-term selling pressure, although market reactions do not always match expectations.The DAO side is also busy this week. Uniswap is voting on expanding its protocol fee infrastructure to BNB Chain, Polygon and Celo. At the same time, a proposal to withdraw 12.5 million UNI delegated to the Franchiser system back into the governance treasury is also up for a vote. On Arbitrum, the transfer of 30,765 ETH frozen in connection with the rsETH incident to a wallet controlled by Aave LLC is on the agenda. Compound and Aave are also voting on supply limits and operational multisig structures.The conference calendar is packed as well. The Nordic Blockchain Conference in Stockholm, Unchained Summit in Da Nang, Vietnam, and the Crypto Valley Conference in Switzerland are all taking place this week.
