Category: crypto

Tokenized stocks could shift trading activity from traditional exchanges as regulators consider new rules for onchain equities. Tiger Research warns of liquidity and revenue fragmentation risks for traditional markets. Hyperliquid’s $2.6B RWA open interest reflects increasing demand for onchain market access globally. Exchanges and regulators are adapting to the shift towards onchain trading.

South Korea’s proposed cryptocurrency tax, set to take effect in January 2027, is facing political scrutiny after a petition with over 50,000 signatures called for its repeal. The petition argues that taxing crypto gains while exempting stock and bond investments is unfair, highlighting concerns over investor protection and market volatility.

THORChain node operators are voting on ADR028, a recovery plan to restart the network after a $10.7 million exploit without minting new RUNE. The plan involves using protocol-owned liquidity first, then sharing remaining losses with synth holders. The proposal aims to safely restart the network and restore confidence after recent DeFi exploits.

Pi Network is emphasizing the importance of aligning token design with real product use as the price of PI remains near $0.153. Founder Chengdiao Fan discussed the gap between token design and product innovation, focusing on utility and user engagement. The market still shows weak momentum for PI despite recent upgrades.

Polymarket has appointed a Japanese representative as it aims to secure regulatory approval in Japan by 2030. The platform remains restricted in various countries due to gambling and financial compliance concerns. Expansion efforts in Japan come as regulators crack down on prediction markets in India, Argentina, and parts of the U.S.

Ethereum’s market sentiment has weakened in May due to price pressure, ETF outflows, Foundation exits, and slower network growth. Santiment reports a decrease in market cap, with ETH at risk of falling below $2,000. JPMorgan notes the need for stronger network activity. ETF outflows and Foundation exits contribute to trader doubts.

Trump Media & Technology Group transferred 2,650 Bitcoin worth $205 million to Crypto.com, raising concerns about their crypto treasury strategy. The company’s holdings are underwater, with a reported loss of $405.9 million, mostly from unrealized crypto asset markdowns. The transfer was detected by Lookonchain, but the impact on the market is uncertain.

The Verus Ethereum bridge exploiter returned 4,052 ETH, worth $8.5 million, to the project team, keeping 1,350 ETH as a bounty. This represents 75% of the stolen funds. The exploit was linked to missing validation checks in cross-chain transfer logic. The return followed a settlement offer by Verus.

Polymarket’s UMA CTF Adapter contract on Polygon was targeted in a suspected exploit, with losses above $520,000 reported. Onchain analysts warned users to pause activity. Security reports suggest a private key compromise, not affecting user funds or market resolution. The incident raises questions about Polymarket’s security and market integrity amidst regulatory scrutiny.

F2Pool co-founder Chun Wang plans to join SpaceX’s two-year Starship mission for a Mars flyby. Wang previously led Fram2, the first human spaceflight over Earth’s polar regions. F2Pool holds a 10% Bitcoin mining market share. SpaceX has not announced a launch date for the mission to go beyond the Earth-Moon system and past Mars.