News

According to CoinDesk, the U.S. Federal Reserve issued a revised proposal Wednesday establishing a framework for limited payment accounts—commonly called "skinny" master accounts—that would allow non-bank firms, including crypto companies, to clear and settle payments through Fed rails. Payment account holders would not receive intraday credit, discount window access, or interest on balances, and automated controls would prevent overdrafts. The proposal, now open for a 60-day comment period, follows a December 2025 request for information and increases maximum closing balance limits based on expected payment activity. The Fed also asked regional banks to pause consideration of certain applications while finalizing the rule, a day after President Trump's executive order directing a review of crypto firms' access to Fed payment rails.

According to CoinDesk, Representatives Steven Horsford (D-NV), Max Miller (R-OH), Suzan DelBene (D-WA), and Mike Carey (R-OH) reintroduced a revised version of the Parity Act on Wednesday, directing the IRS to study the feasibility and potential abuse of a de minimis exemption for crypto transactions. The new bill also creates a tax safe harbor for "regulated payment stablecoins" — no gain or loss would be recognized unless the cost basis falls below 99% of the stablecoin's redemption value — and defines how wash sale rules apply to digital assets. The IRS review would examine how many transactions worth less than $200 are captured under current law and what infrastructure would be needed to implement a carveout. Horsford previously called tax policy "the foundation" for integrating digital assets into the financial system, arguing that unresolved tax questions remain a barrier to consumer and institutional adoption.

Bitwise has revealed the address for its HYPE ETF, according to Foresight News. The ETF has purchased and staked HYPE tokens valued at $19.78 million, resulting in a profit of $2.4 million.

According to the announcement from Binance, the platform is set to introduce Gensyn (AIGENSYN) as the 64th project on its HODLer Airdrops page. Gensyn is recognized as a network for Machine Intelligence and serves as an open infrastructure layer for AI. Users who have subscribed their BNB to Simple Earn (Flexible and/or Locked) and/or On-Chain Yields products between 2026-05-04 00:00 (UTC) and 2026-05-06 23:59 (UTC) will be eligible for the airdrop distribution. The distribution is expected to be completed within five hours of the announcement, with rewards credited to users' Spot Accounts.
The details of the AIGENSYN HODLer Airdrops include a total genesis token supply of 10,000,000,000 AIGENSYN, with the same figure as the maximum token supply. The HODLer Airdrops will reward users with 100,000,000 AIGENSYN tokens. Upon listing on Binance, the circulating supply will be 1,304,000,000 AIGENSYN, accounting for 13.04% of the total token supply. The smart contract and network details specify Ethereum as the platform, with the contract address provided. Binance has waived the listing fee for this project, and a research report on Gensyn (AIGENSYN) will be available within 48 hours of the announcement.
Binance's HODLer Airdrops program rewards BNB holders with token airdrops based on historical snapshots of their BNB balances. By subscribing BNB to Simple Earn, users automatically qualify for HODLer Airdrops, Launchpool, and Megadrop rewards. The program offers a straightforward way to earn additional tokens without requiring ongoing actions, as rewards are distributed retroactively. Users can benefit from the program by subscribing BNB to Simple Earn products and/or On-Chain Yields, thereby qualifying for token rewards.

According to CoinDesk, Polymarket filed to list "combinatorial outcome contracts" — effectively parlays — in U.S. sports event contracts with the CFTC on Wednesday, self-certifying the product for launch no earlier than May 21. Each parlay would resolve to $1 only if every underlying leg settles in the user's favor; a single loss zeroes the contract.Separately, SEC Chairman Paul Atkins said his agency is seeking public input on event contract ETFs, acknowledging that "novel products raise novel questions" and noting ETF assets have tripled in seven years. The dual developments add fuel to an escalating jurisdictional fight, with the CFTC asserting exclusive federal authority under the Commodity Exchange Act while state regulators and gambling firms argue sports prediction markets infringe on state rights to regulate and tax gambling. The Supreme Court is widely expected to eventually take up the issue.

According to the announcement from Binance, the platform is set to introduce the SPCXUSDT USDⓈ-M Futures Pre-IPO Perpetual Contract. Trading for this new contract will commence on 2026-05-21 at 03:45 (UTC). This initiative aims to broaden the trading options available on Binance Futures and enhance the overall trading experience for users.
The SPCXUSDT contract is based on the underlying equity of Space Exploration Technologies Corp. (SPCX) and will be settled in USDT. The contract features a tick size of 0.01 and a minimum trade amount of 1 SPCX, with a minimum notional value of 5 USDT. During the Pre-IPO trading period, the capped funding rate is set at +0.005% per funding interval, which will adjust to +2.00% / -2.00% after the Pre-IPO trading concludes. The interest rate during the Pre-IPO period is fixed at 0.015% daily, with funding fees settled every eight hours. The contract supports a maximum leverage of 5x and is available for trading 24/7.
The mark price methodology during the Pre-IPO trading period involves calculating the average of the last 10 seconds’ trade prices on Binance RIE every second. A ±1% price cap is imposed to limit price changes within this range during the Pre-IPO trading and transition period. Once the official IPO listing occurs, the Pre-IPO Perps will transition to standard TradFi Perps, with the mark price gradually converging to the standard calculation. The funding rate will also transition to the standard TradFi Perp Funding Rate Mechanism as outlined in the Clearing Procedures. Binance may adjust leverage and margin requirements in accordance with the Clearing Rules.

According to the announcement from Binance, the platform has introduced a new feature called Live Trading Hub on Binance Square Live, accompanied by a promotional event offering a total prize pool of 15,000 USDT. This initiative aims to enhance social trading by allowing creators to share real-time trading data, including positions, profit and loss (PnL), and trade history during livestreams. Viewers can participate and compete on a live leaderboard, making trading a more interactive and communal experience.
The promotion period is set from 2026-05-21 00:00 (UTC) to 2026-05-30 23:59 (UTC). Creators can unlock livestream access automatically upon reaching 1,000 Binance Square followers. Those with prior livestreaming experience or a strong content creation background can apply for access through a survey. Creators participating in the promotion can compete for a share of 10,000 USDT across two leaderboards: the Popular Streamer Leaderboard and the Skilled Streamer Leaderboard. The former ranks creators based on the cumulative number of valid participants in their sessions, while the latter ranks them by the realized PnL of their best session.
For viewers, a separate reward structure offers a 5,000 USDT prize pool. The first 1,666 users who join a Live Trading Hub session, make their first TradFi USDⓈ-M Futures trade, and achieve a trading volume of at least 100 USDT will receive a 3 USDT Futures Bonus Voucher. Rewards are distributed on a first-come, first-served basis. Binance Square aims to be a comprehensive social platform for Web3 trends, connecting content creators with followers and customizing user feeds based on engagement history.

Syndicate, a DAO infrastructure service provider, has announced plans to gradually cease operations. According to Foresight News, the company cited a fundamental shift in the Rollup market after five years of building on-chain developer infrastructure. The Rollup market has significantly contracted, with many Rollups quietly shutting down, and the focus has shifted from EVM Rollups to custom chains built from scratch by consulting teams, resulting in low reusability of technology and network value.
Syndicate consists of two parts: Syndicate Labs, the development company, is closing, while Syndicate Network Collective, a Wyoming DUNA holding SYND tokens with governance rights, remains an independent entity. The governance of SYND will not be affected in the short term. The decision to cease operations is unrelated to recent cross-chain events, and affected users and SYND holders have been fully compensated through treasury reserves. Tokens held by the team and investors remain locked, with no short-term profits.

The National Cryptocurrency Association (NCA) reports that 67 million Americans now own cryptocurrency, highlighting the need for federal regulations to pass Congress this year. According to BeInCrypto, this announcement follows the Senate Banking Committee's 15-9 vote on May 14, advancing the Digital Asset Market Clarity Act of 2025 to a full Senate floor test. The NCA's 2026 State of Crypto Holders Report, conducted with The Harris Poll, shows 12 million new crypto owners, bringing the total to roughly one in four U.S. adults. California leads with 9.5 million holders, followed by Texas, Florida, and New York. The CLARITY Act proposes splitting oversight between the Commodity Futures Trading Commission and the Securities and Exchange Commission. The bill, which passed the House in July 2025, now requires 60 Senate votes to overcome a filibuster.

OpenAI is preparing to confidentially file for an initial public offering as soon as Friday, with Goldman Sachs and Morgan Stanley advising on the draft prospectus, The Wall Street Journal reports, citing people familiar with the matter. The ChatGPT maker, last valued at $852 billion, aims to be ready to go public as early as September, though plans remain fluid. The filing follows OpenAI's courtroom victory over co-founder Elon Musk earlier this week, removing a key obstacle to the listing. CFO Sarah Friar has cautioned internally that the company may need more time, while OpenAI also faces intensifying competition from Anthropic and Google and has recently missed internal revenue and user targets. The IPO would cap what could become the largest year ever for public offerings, with SpaceX and Anthropic also exploring blockbuster debuts.

According to WatcherGuru, Wall Street firms raised their Nvidia stock price targets following the company's fiscal Q1 2027 earnings release after the May 20 close, with the revised range spanning $270 to $325 and led by HSBC at $325. Morgan Stanley lifted its target to $285 and framed its thesis around a $1 trillion long-run revenue scenario, with analyst Joseph Moore noting "visibility into the supply chain has improved materially." Other adjustments included GF Securities to $308, DA Davidson and KeyBanc both to $300, and TD Cowen to $275. China remains an overhang: Nvidia lost H20 market access in April 2025, and H200 sales to 10 Chinese firms are held up by local regulators.

SpaceX has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC). According to Bloomberg, the statement discloses a first-quarter net loss of $4.28 billion on revenue of $4.69 billion and a dual-class share structure giving Elon Musk 85.1% voting control. The filing shows 2025 full-year revenue of $18.7 billion and a net loss of $4.94 billion, driven by heavy AI spending after the xAI acquisition. Musk could earn up to 1 billion additional shares for hitting milestones including a 1-million-person Mars settlement. The IPO targets as much as $75 billion at a valuation of up to $2 trillion, with marketing expected June 4 and pricing as soon as June 11 on Nasdaq under ticker SPCX.

According to Bloomberg, Anthropic PBC has agreed to pay SpaceX nearly $45 billion over three years for computing resources to support its Claude artificial intelligence software, according to a securities filing related to SpaceX's initial public offering. Anthropic is expected to pay $1.25 billion per month through May 2029, with capacity ramping at a reduced fee in May and June 2026. Either party may terminate the agreement with 90 days' notice.

The U.S. Commerce Department has announced a $2 billion government grant to nine quantum computing companies, including IBM. According to ChainCatcher, this initiative aims to accelerate the development of the emerging quantum computing industry and foster the creation of more stable and scalable quantum computing systems. This funding is part of U.S. President Donald Trump's administration's efforts to maintain a competitive edge in advanced computing and usher in a new era of technological innovation.

Ethereum's price fluctuations could lead to substantial liquidations on major centralized exchanges, according to Coinglass data. If Ethereum surpasses $2,215, the cumulative liquidation of short positions could reach $1.021 billion. Conversely, if Ethereum falls below $2,028, the liquidation of long positions could amount to $648 million.

Manus, an AI startup, is considering a buyback plan involving $1 billion in external financing, according to Foresight News. This move comes as the acquisition by Meta faces regulatory challenges. Sources indicate that the buyback valuation will at least match the $2 billion Meta initially paid. In addition to external funding, the founders may contribute personally to cover the remaining amount. If successful, Manus plans to establish a joint venture in China with these investors and seek a listing in Hong Kong.
Some investors have shown interest in the buyback, as Manus is projected to generate approximately $1 billion in revenue this year. However, these plans are still in the early stages, and discussions about Manus's valuation are ongoing. The founders might ultimately decide against the acquisition. There are still hurdles to overcome, and it remains unclear how the new owners will manage Manus's AI technology, much of which has been integrated into Meta's systems. Manus employees have already joined Meta's Singapore office.

Russia's Ministry of Finance and the Central Bank are set to finalize the draft law on cryptocurrency market regulation next week, according to Foresight News. The draft will be submitted for a second reading in the State Duma. This announcement was made by Deputy Finance Minister Ivan Chebeskov during the "Russian Digital Financial System: Digital Currency, Tokenization, and Artificial Intelligence" conference.

Iran's Supreme Leader has instructed that uranium nearing weapons-grade must stay within the country, according to Odaily. This directive reflects a consensus within Iran's political system, as reported by two sources familiar with the matter.

Oil prices for Brent and WTI have increased by approximately $2, with current prices at $102.56 per barrel and $102.42 per barrel, respectively. According to Odaily, spot gold has seen a short-term decline of over $20, now priced at $4516.52 per ounce. The market movement follows comments from Iran's Supreme Leader, who stated that uranium nearing weapons-grade must remain within Iran.

Zcash experienced a 13.7% increase in the past 24 hours following the conclusion of a U.S. Securities and Exchange Commission (SEC) investigation, which ended without any enforcement action or penalties. According to NS3.AI, the investigation, which began in August 2023, focused on whether the issuance, governance, or sale of ZEC violated federal securities laws. In its Q1 2026 report, Zcash disclosed holding $36.7 million in liquid assets. CoinGecko data indicated that ZEC has risen by over 100% in the last month.

Bitcoin whales have been actively accumulating and distributing BTC over the past 20 days, according to CryptoQuant contributor Woominkyu. During this period, BTC was traded near $78,000, prompting whales to accumulate. As the price rebounded toward $82,000, these whales began distributing their holdings. On May 18, a significant movement of 8,063 BTC to exchanges was observed, resulting in an increase in total exchange holdings from 2.677 million to 2.696 million BTC, according to NS3.AI.

Cardano is aiming for a mainnet governance action on May 29 for its V11 hard fork, although concerns about Ogmios readiness could affect the timeline. According to NS3.AI, the V11 upgrade is set to introduce enhancements to Plutus and cryptographic features. Despite these developments, Cardano's presence in the DeFi sector remains relatively small, with a total value locked (TVL) of approximately $129 million and a 24-hour decentralized exchange (DEX) volume of $615,138.

Nvidia's recent financial report has once again exceeded Wall Street's earnings expectations, according to Phil Rosen, an analyst from the renowned U.S. business magazine Inc. This development has temporarily alleviated concerns about an AI bubble for at least another quarter. According to Jin10, debates over capital expenditures by hyperscale vendors, data center construction, and technological leadership have been dispelled by Nvidia's impressive balance sheet.
In the first quarter of fiscal year 2026, Nvidia's data center business alone contributed $75.2 billion, accounting for approximately 92% of total revenue. Hyperscale buyers contributed $38 billion, while the newly segmented AI cloud, industrial, and enterprise divisions added $37.2 billion, marking a 31% quarter-over-quarter growth. This new business segmentation indicates that Nvidia is signaling to investors that its growth is no longer driven by just a few hyperscale vendors.
Additionally, Nvidia has increased its quarterly dividend by 25 times to $0.25 per share and announced a new $80 billion share repurchase plan. Overall, the company has provided little cause for concern, and data suggests that this situation is unlikely to change in the short term.

The global cryptocurrency market cap now stands at $2.59T, up by 0.39% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $76,892 and $78,200 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $77,920, up by 0.54%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include PROVE, EDEN, and MITO, up by 71%, 47%, and 33%, respectively.SpaceX Files for IPO as Prediction Markets and Crypto Derivatives Collide with Traditional FinanceSpaceX has filed its S-1 registration with the SEC, setting the stage for one of the most-watched public listings of the decade. Meanwhile, Polymarket self-certified sports parlays with the CFTC—combinatorial outcome contracts that mirror traditional parlay mechanics—and the SEC is formally exploring prediction market ETFs, which have tripled in assets over seven years. From private space companies listing publicly to prediction markets graduating into regulated fund wrappers, the boundary between speculative crypto-native platforms and traditional capital markets continues to collapse.Top stories of the day:Nvidia Q1 Revenue Hits $81.6B, Lifting Bitcoin Miners Tied to AI Data CentersKey Takeaways:Nvidia Q1 revenue surges 85% to $81.62 billion$91B Q2 guidance, $80B buyback, dividend hikeBitcoin miners with AI pivot edge higherSummary:Nvidia reported first-quarter revenue of $81.62 billion, up 85% year-over-year and above Wall Street's $78.9 billion estimate, with adjusted earnings per share of $1.87 beating the consensus of $1.76. The chipmaker issued $91 billion in current-quarter revenue guidance, authorized an additional $80 billion in stock buybacks, and raised its quarterly dividend from 1 cent to 25 cents. Data Center revenue reached $75 billion—with hyperscalers contributing $38 billion, up 12% sequentially—while AI cloud revenue more than tripled from a year earlier. Bitcoin miners with AI infrastructure exposure, including Core Scientific and Cipher Mining, traded modestly higher in after-hours trading as Nvidia's results reinforced demand for data center capacity tied to high-performance computing.NCA Reports 67M Americans Own Crypto as CLARITY Act Advances Key Takeaways:67M U.S. adults hold digital assets, up 12M YoYSenate Banking Committee advances CLARITY Act 15-9Women drive 42% of new adoption, over-55s top Gen ZSummary:A new report from the National Cryptocurrency Association, conducted with The Harris Poll, found that 67 million American adults—roughly 1 in 4—now own crypto, an increase of about 12 million holders in one year. About 90% of holders earn under $500,000 annually, women account for 42% of new adopters, and Americans over 55 have slightly overtaken Gen Z in ownership rates, with California leading at 9.5 million and Texas at 5.94 million owners. Separately, the CLARITY Act cleared the Senate Banking Committee by a 15-9 vote, signaling bipartisan momentum toward a federal regulatory framework for digital assets. The twin developments underscore crypto's shift into mainstream retail finance and the growing legislative recognition that a broad, politically relevant user base warrants clearer consumer protections and market rules.U.S. Bipartisan Lawmakers Revive Parity Act, Direct IRS to Study De Minimis Crypto Tax Exemption Key Takeaways:IRS directed to study sub-$200 crypto transaction exemptionStablecoins, wash sales, staking rewards also addressedBipartisan House bill builds path to everyday crypto useSummary:A bipartisan group of U.S. House lawmakers led by Reps. Steven Horsford (D-NV) and Max Miller (R-OH) has revived the PARITY Act, directing the IRS to study the feasibility of a de minimis tax exemption for crypto transactions under $200, including analysis of compliance costs, revenue impact, and technical infrastructure needs. The bill also proposes near-cash tax treatment for regulated payment stablecoins where the holder's basis is at least 99% of redemption value, a safe harbor for individual traders and self-custody users, wash sale rule clarification for digital assets, and guidance on taxing validator and staking rewards. The legislation does not immediately enact an exemption but aims to build an official evidentiary record for modernizing crypto tax rules, potentially paving the way for simpler everyday transactions without disproportionate capital gains record-keeping burdens.SpaceX Files S-1 Registration Statement with SEC Key Takeaways:S-1 filed publicly May 20, Nasdaq listing planned$18.7B revenue, $4.94B net loss on AI spendingMusk retains ~79% voting power via dual-class sharesSummary:SpaceX publicly filed its S-1 registration statement with the SEC on May 20, 2026, setting the stage for one of the most anticipated IPOs in recent years, with a potential roadshow around June 4 and first trading as early as June 12. The filing disclosed $18.7 billion in full-year 2025 revenue against a net loss of $4.94 billion, driven largely by heavy AI-related spending following the acquisition of xAI, along with a performance-based compensation structure for CEO Elon Musk. Under the dual-class share structure, Musk would retain approximately 79% of voting power through super-voting Class B shares while holding roughly 42% of the economic interest, drawing a joint letter from the NYC Comptroller, NYS Comptroller, and CalPERS urging one-share-one-vote reforms, a board sunset provision, and removal of mandatory arbitration clauses for shareholder claims.Fed Proposes 'Skinny' Master Accounts, Opening Payment Rails to Crypto Firms Key Takeaways:Limited-purpose Fed payment accountsNo intraday credit or discount windowCrypto firms gain direct Fedwire accessSummary:The Federal Reserve has released a formal proposal to create "payment accounts"—widely called "skinny" master accounts—that would allow fintech and cryptocurrency firms direct access to Fed payment rails including Fedwire and FedNow. These limited-purpose accounts provide settlement capabilities but explicitly exclude intraday credit, discount window access, and interest on balances, while requiring strict AML, BSA, and sanctions compliance. The proposal follows a Trump executive order urging agencies to expand financial infrastructure access for nonbank institutions, and builds on the precedent of Kraken's one-year limited-purpose Fed account. Fed Governor Michael Barr has voiced opposition over insufficient AML safeguards, signaling internal debate before any final rule takes shape.Polymarket to List Parlays as SEC Explores Prediction Market ETFsKey Takeaways:Polymarket self-certifies sports parlays with CFTCAll-or-nothing combinatorial outcome contractsSEC opens public input on prediction-market ETFsSummary:Polymarket has filed a self-certification with the CFTC to list "combinatorial outcome contracts"—essentially sports parlays in prediction-market form—on U.S. sports events, with listing permitted no earlier than May 21, 2026. These contracts combine two or more underlying event contracts and pay $1.00 only if every leg settles correctly, settling at $0.00 if any single leg fails, mirroring traditional sports parlay mechanics without requiring explicit CFTC approval. Concurrently, the SEC is seeking public input on how to treat event-contract ETFs, signaling growing regulatory focus on the intersection of prediction markets and securities as ETFs have roughly tripled in assets over the past seven years. The dual-track regulatory push—CFTC overseeing the derivatives side and the SEC evaluating fund wrappers—comes as Congress reviews prediction markets more broadly, though no concrete legislation has been introduced.Market movers:ETH: $2,128.61 (+0.2%)BNB: $653.51 (+1.38%)XRP: $1.3717 (+0.01%)SOL: $86.57 (+1.81%)TRX: $0.3618 (+1.15%)DOGE: $0.10513 (+1.17%)ZEC: $665.09 (+12.97%)WBTC: $77,427.42 (+0.06%)U: $1.0007 (-0.01%)XAUT: $4,523.13 (+0.67%)

Strategy founder Michael Saylor has announced the company's goal to maximize the growth of its credit instrument, STRC, to further expand Bitcoin purchases and increase BTC holdings per share. According to ChainCatcher, Saylor emphasized the company's intention to minimize volatility and uncertainty in its operations.

Binance announced on X that it is launching an event with multiple participation channels, each offering unique rules and formats. Participants can engage through various platforms, including the community square, official chat rooms, Telegram, and Discord. Each channel provides distinct rewards, and participants can earn rewards from multiple channels simultaneously.
The event's structure allows users to participate across different platforms, with each channel having its own set of guidelines. Binance emphasizes that the final list of winners and the methods for claiming rewards will be announced through the respective community and social media accounts. Participants are encouraged to follow the specific rules of each channel to maximize their chances of winning and to stay updated on the latest announcements regarding the event.

Hong Kong police have announced a joint operation with law enforcement agencies from Singapore, South Korea, Thailand, and six other countries and regions to tackle cross-border fraud and money laundering activities. According to Odaily, the operation took place from March 10 to May 7, resulting in the arrest of 3,018 individuals involved in over 138,000 fraud cases, with total losses amounting to approximately $752 million.
During the operation, authorities froze 101,989 bank accounts and intercepted around $161 million in fraudulent funds. Hong Kong police arrested 870 individuals and intercepted approximately HKD 539 million. In the largest case, a Singaporean company was defrauded of $36 million, with the funds distributed across multiple bank accounts in Hong Kong and other regions. About half of the amount was converted into stablecoins and transferred to various virtual asset wallets, with police successfully freezing $20 million of these funds.

On May 21, Jin10 reported that the British pound weakened against the U.S. dollar, briefly falling to around 1.3431, due to a significant underperformance in the UK's services PMI. According to Jin10, the preliminary services PMI for May was recorded at 47.9, a sharp decline from April's 52.7. This weaker-than-expected services PMI has reinforced market expectations that the Bank of England will maintain interest rates unchanged in June.

OpenAI announced that its internal general-purpose reasoning model has autonomously solved the planar unit distance problem, a notable open question in discrete geometry first posed by Paul Erdős in 1946. This marks the first instance of an OpenAI system independently resolving a long-standing research issue without human guidance, according to BeInCrypto. The breakthrough underscores the potential of advanced AI systems to contribute original work in technical fields, with implications extending beyond mathematics. External mathematicians have verified the proof, which utilized tools from algebraic number theory. OpenAI views this achievement as a step towards more automated research, potentially benefiting fields like biology, physics, and medicine. The announcement comes amid a competitive period in the AI industry, with OpenAI reportedly preparing for an IPO and rival Anthropic nearing its first profitable quarter.

Ethereum co-founder Vitalik Buterin has outlined short-term upgrades to enhance native privacy on Ethereum's base layer. According to BeInCrypto, these upgrades include account abstraction, keyed nonces, and Kohaku, aimed at integrating privacy into everyday transactions. Account abstraction will simplify wallet use and enhance private transfers, while keyed nonces allow parallel transaction handling. Kohaku will obscure wallet data access, enhancing user privacy. These developments are part of the planned Hegota hard fork in late 2026, potentially boosting Ethereum's utility and demand.

SpaceX has chosen Goldman Sachs to participate in its record-breaking initial public offering (IPO), according to a prospectus filed by the company on Wednesday. The transaction is expected to yield significant financial returns and could position Goldman Sachs as the lead underwriter for other high-profile IPOs, such as those of OpenAI and Anthropic. SpaceX's IPO is anticipated to be the largest in history, with the company's valuation reaching $1.25 trillion in its latest acquisition round. Goldman Sachs will hold the prominent 'lead left' position in the IPO prospectus, likely overseeing the final allocation, pricing, and valuation of shares, and receiving the largest share of underwriting fees.
Matt Kennedy, a senior IPO strategist at Renaissance Capital, noted that executing a transaction of this magnitude could be complex but highly lucrative. Sources indicate that SpaceX's IPO is expected to be at least twice the size of Alibaba's $25 billion IPO in 2014, which paid $300.4 million in commissions to underwriting banks, about 1.2% of the total transaction size. Other major IPOs, such as Meta's in 2012 and Uber's in 2019, also had underwriting fees slightly above 1%. Based on similar rates, SpaceX's IPO could generate over $500 million in underwriting fees. For context, Goldman Sachs reported total equity underwriting revenue of $535 million last quarter.

Eurozone economic activity in May contracted at the fastest pace in two and a half years, as the war-induced surge in living costs hit service sector demand and pushed overall input price inflation to a three-and-a-half-year high. According to Jin10, the latest data shows that the Eurozone's composite PMI preliminary reading for May fell from 48.8 to 47.5, marking the lowest level since October 2023 and falling short of market expectations of 48.8. This indicates that private sector activity in the Eurozone has contracted for the second consecutive month. The preliminary PMI for the Eurozone's service sector dropped from 47.6 to 46.4. Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated, "The preliminary PMI survey data for May shows that the Middle East war is increasingly damaging the Eurozone economy. The survey data suggests that the Eurozone economy is likely to contract by 0.2% in the second quarter." Williamson added, "The service sector has been particularly hard hit due to the surge in living costs caused by the war, especially the rise in energy prices, which has weakened demand."

The Eurozone's manufacturing sector showed signs of slowing down in May, with the preliminary Purchasing Managers' Index (PMI) coming in at 51.4. According to Jin10, this figure is below the anticipated 51.8 and marks a decline from the previous month's reading of 52.2. The PMI is a key indicator of economic health in the manufacturing sector, with a reading above 50 indicating expansion. The latest data suggests a deceleration in growth, raising concerns about the region's economic momentum.

According to Foresight News, monitoring by Lookonchain reveals that the short position held by loracle.hl in HYPE has now surpassed $100 million. The address is currently experiencing an unrealized loss of over $23 million, with a liquidation price set at $69.49.

Exodus Movement, a cryptocurrency wallet service provider, has released its operational data report for April. According to ChainCatcher, the company resumed increasing its holdings of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) after selling over a thousand BTC in the first quarter to fund a payment business acquisition. As of the end of April, Exodus holds 629 BTC, 1,872 ETH, and 19,234 SOL.
In addition, the company's transaction volume for April reached $347 million, with monthly active users remaining steady at 1.5 million, similar to March.

Stablecoins are increasingly supporting demand for short-duration U.S. Treasuries, reinforcing the U.S. Treasury's shift toward T-bill financing, according to BeInCrypto. With stablecoin reserves confined to short-term assets, they cannot absorb the risk of longer-term Treasuries, leaving a demand gap for 10-year and 30-year bonds. The Treasury's focus on T-bills reduces long-end supply pressure but increases front-end rollover risk, which stablecoins help absorb. However, compressing long-term yields requires foreign institutional buyers to return, as stablecoins alone cannot address the long-end demand.

Germany's private sector activity contracted for the second consecutive month in May, impacted by the Iranian war, which has hindered economic recovery, suppressed demand, and driven up prices. According to Jin10, the preliminary composite Purchasing Managers' Index (PMI) for Germany, compiled by S&P Global, slightly increased from 48.4 to 48.6, surpassing market expectations of 48.4. However, the index remains below the 50 threshold, indicating a contraction in economic activity. The preliminary PMI for the services sector rose from 46.9 to 47.8, yet it also stayed below the 50 mark. Meanwhile, the manufacturing sector stagnated, with its index falling from 51.4 to 49.9. Phil Smith, the Associate Director of Economics at S&P Global Market Intelligence, stated, "With the preliminary PMI for May showing a decline in business activity for the second month in a row, the German economy is set to contract in the second quarter of this year." The decline was primarily led by the services sector, where business activity decreased for the second consecutive month, although at a slower pace than in April. "In manufacturing, the boost from efforts to build inventories in response to rising prices and supply shortages appears to be fading," Smith added.

Ripple Prime has announced a partnership with EDX Markets to broaden its trading services for institutional clients, focusing on spot and perpetual futures markets. According to NS3.AI, EDX Markets operates as a U.S.-based institutional crypto platform, aiming to provide advanced trading solutions for its clientele.

Community user CaramelCoffee has connected Loracle to a HYPE staking wallet containing 1.598 million HYPE, valued at nearly $100 million. According to NS3.AI, this connection is based on community analysis rather than direct fund transfers. CaramelCoffee noted that Loracle's short position on HYPE is experiencing an approximate $24 million floating loss.

Walmart Inc. (WMT.N) reported a 4.1% increase in U.S. same-store sales for the first quarter, exceeding the anticipated growth of 3.82%. According to Jin10, this performance highlights the company's strong retail presence and effective sales strategies in the U.S. market. The results reflect Walmart's ability to attract consumers and maintain its competitive edge in the retail sector.